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Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. The company’s shares were down about 4% in early trade.

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2020 Hyundai Sonata Hybrid $249 lease tops June plug-in, hybrid, electric car deals

Green Car Reports

Although the cheap low-interest or no-interest financing deals for new vehicles have mostly gone away, as the auto industry recalibrates supply to a new coronavirus-recovery norm for demand, many of them are still good through June in the green-car sector—leading to some standout deals for electric cars, plug-in hybrids, and hybrid vehicles. (..)

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BorgWarner providing BYD Auto with turbo technology for hybrids

Green Car Congress

BorgWarner is supplying its advanced wastegate turbocharging technology for numerous hybrid electric vehicles (HEVs) from BYD Auto Industry Company Limited. The turbochargers boost BYD Auto’s 1.5-liter The turbochargers boost BYD Auto’s 1.5-liter BorgWarner offers a portfolio of turbocharging technologies.

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GlobalData: Global automakers earmark nearly US$600B for EVs over next decade

Green Car Congress

Broadly, the investments announced focus on the development of production facilities, technology, EV batteries, new product and securing future raw material supply (primarily semiconductors and battery materials). Automakers need to be tech-efficient to combat technology rivals invading the auto industry. Toyota announced US$70.4

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Dealers Finally Have EV Inventory But Now Lack Buyers

The Truth About Cars

We’ve been hearing about the rise of electric vehicles for years, but while they are growing rapidly in number, there’s still a disconnect between an auto industry hell-bent on electrification and the desires of the people they rely on to buy new cars.

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thyssenkrupp Automotive pressing on with transformation of its powertrain business towards e-mobility

Green Car Congress

The unit is currently one of the world’s leading suppliers of components for internal combustion, hybrid and electric powertrains. We will use the profits from this business to finance the development and industrialization of the new products, gradually making ourselves independent of the traditional internal combustion engine.

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Tesla Model Y sales overtakes Toyota RAV4 in its quest to become the best-selling vehicle

Teslarati

In terms of battery electric vehicle (BEV) sales, Australia’s auto industry saw a 7.7% BEV, plug-in hybrid, and hybrid vehicles made up 15.6% of Australia’s auto market in May. The FCAI believes May 2023’s sales result stemmed from improvement in supply and logistics.

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