Electrek
NOVEMBER 1, 2023
Although Toyota expects record growth this fiscal year, it’s cutting its EV sales forecast by nearly 40%. In Toyota’s latest questionable strategy shift, the company will lean into hybrids to “avoid the price competition” in the EV market.
Teslarati
MARCH 29, 2024
BYD set lower sales growth goals for 2024, warning of a looming price war and overcapacity in Mainland China’s electric vehicle (EV) sector. The BYD Chairman also forecasted that exports would more than double to 500,000 units this year. In February, it slashed the prices of all its vehicles between 5% to 20%.
Green Car Congress
MAY 11, 2022
The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day this year and 12.8
Baua Electric
APRIL 24, 2024
Auto parts distributor LKQ cut its full-year sales forecast on Tuesday and missed estimates for first-quarter profit amid falling metal prices and softening demand for spares in North America. It also posted sales of USD3.70 It now expects to report organic revenue growth for parts and services between 2.5%
Green Car Congress
JANUARY 12, 2020
In August 2019, CRU reported on the steady slide in prices that has occurred in the lithium market since the beginning of the year. Since then, prices have continued to fall, CRU notes. Lithium hydroxide has fallen by 30% to RMB 74,500/t, according to CRU’s price assessments. Although this marks an impressive 41.5%
Teslarati
APRIL 10, 2024
BYD Chairman Wang Chuanfu forecasts falling profit margins in 2024 but remains confident that the company will maintain stable profitability. Wang predicted that the intensifying price war in China would result in falling profit margins for BYD. BYD hopes to ensure stable profitability by improving sales.
Green Car Congress
APRIL 30, 2022
Chinese lithium and cobalt sulfate prices fell this month as strict COVID-19 lockdowns in Shanghai and elsewhere limit demand in the world’s largest electric vehicle market. Prices for cobalt sulfate fell by 6%, according to Benchmark’s Cobalt Price Assessment. Consultancy Rho Motion now forecasts Chinese EV sales of 5.6
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