Why China hopes to dominate Europe’s electric vehicle market

European consumers use Chinese products every day. Will they also embrace cars by companies such as BYD that have their sights set on the European market?

Andreas Wiborg, a product specialist, at the BYD showroom in Copenhagen. (Charlotte de la Fuente for The Washington Post)

COPENHAGEN — Some of the newest, lowest-cost electric vehicles for sale in Europe are showcased on the second floor of a shopping mall here, steps away from H&M, a fitting place for an upstart to go mainstream. The cars’ exteriors had been dusted and buffed. The logo on their grills had three letters, BYD.

“These are Chinese cars?” one mall shopper asked, stopping at the showroom entrance.

“Yes, that’s right,” said Charlotte Ejlertsen, the sales manager.

The shopper, Michael Christiansen, pursed his lips.

Ejlertsen said China already made so many of the products central to his life, including, most likely, the phone chips in his pocket. So what’s one more?

After gaining a dominant hold on the raw materials and batteries necessary for electric vehicles, China is now making a play for the one thing it doesn’t have: cars on roads in the West. Chinese automakers have been pushing into new markets, particularly in Europe, building showrooms and inking deals with existing dealers everywhere from Paris to the northern reaches of Scandinavia. The implicit sales pitch is that those vehicles are an essential part of the world’s clean energy goals.

But in Europe, which aims to ban the sale of traditional petrol cars by 2035, the Chinese EVs are a solution and problem all at once.

The Chinese brands are poised to offer something that Europe’s famed automakers can’t yet match — low-cost EVs for the masses. As in the United States, many climate-attuned European consumers are hungry for a vehicle that helps them cut their dependence on fossil fuels without a premium price tag.

While that makes the Chinese imports attractive, they also pose a clear threat to one of Europe’s biggest industries, which underestimated the speed of the electric revolution. Brussels, amid an investigation into potential subsidies, is weighing whether to raise tariffs on Chinese vehicles. European Commission President Ursula von der Leyen said the global market is now flooded with “cheaper Chinese electric cars.” Auto executives have talked about a period of unprecedented upheaval, influenced in part by one question: How many people are willing to buy a Chinese car?

The underbelly of electric vehicles

That answer is emerging day after day in places such as the Copenhagen showroom of BYD, where three models sit under rectangular lights, with the cheapest — named the Dolphin (starting at $33,000 in Denmark) — closest to the entrance. A sign on the wall says the company’s EVs “are among the best in the world.” The showroom is staffed solely by Danes, including the manager, Ejlertsen, whose parents ran a Peugeot dealership. She said she has “petrol”

Read More... Read More

Vehicle foyer group warns gas-efficiency requirements would increase car price ranges

The Alliance for Automotive Innovation, a lobby group symbolizing big U.S. automakers, like the Detroit-A few, has submitted a new problem to the National Highway Targeted traffic Security Administration’s advised fuel-effectiveness standards.

If handed, the new coverage, titled the Company Regular Gasoline Economic system (CAFE) proposal, would tighten emissions standards on a yearly basis: 2% for passenger motor vehicles and 4% for SUVs and pickups. Last thirty day period, the alliance argued that the automotive sector would undergo heavy fiscal losses under these principles, estimating that the fines by itself would expense far more than $14 billion by 2032. Now, the group is warning that the NHTSA’s fuel-performance prosal would elevate auto selling prices as a lot as $3,000 in considerably less than a ten years “with unquestionably no environmental or gas personal savings gains.”

Whilst the agency has but to publicly reply, in preceding statements, it has famous that automakers could stay clear of fines by offering extra electric motor vehicles, offsetting emissions from revenue of fuel-powered designs. The goal of the CAFE invoice is related to that of the California Air Assets Board (CARB), which seeks to finish income of inner combustion motor vehicles by 2035 (excluding hybrids). By tightening fuel-effectiveness requirements and fining companies for non-compliance, condition and federal governments can area further tension on the automotive field to speed up the EV changeover.

The Biden Administration is also incentivizing electrification in the kind of tax credits, which are only obtainable to brands that make their motor vehicles on U.S. soil with products sourced from American suppliers and select trade partners. As this sort of, there is minimal purpose for the NHTSA to consider serious take note of the alliance’s new arguments.

Despite the fact that the automotive sector has broadly lent its aid to a zero-emission potential, the pace of this transformation proceeds to be a sticking issue for business insiders, including workers, dealers, brands, suppliers and executives. Yet, it looks unlikely that the field can resist bigger fuel-effectiveness specifications in perpetuity. The dilemma of climate alter is not a small business difficulty but alternatively a social situation, 1 which a growing greater part of Us residents consider critically. Given that automakers have had significant time to address vehicle emissions but have failed to do so, it is hardly shocking for lawmakers and regulators to power their hand.

Read More... Read More

GM keeps lead about Ford, Honda accelerates motor vehicle product sales, Toyota scores EV acquire

Motor vehicle profits held continuous in September, boosting 3rd-quarter volumes at important domestic and import automakers in the U.S.

Japanese automakers observed reliable yr-over-calendar year advancements in the U.S., specially at Honda. The manufacturer sold 115,00 motor vehicles in September, driving a overall Q3 quantity of 339,143. These signify increases of 45.5% and 52.7% from the preceding year’s numbers, though car or truck revenue declined by 7,882 units from the 2nd quarter. Honda’s spectacular development implies it has last but not least triumph over its supply issues, which heavily hampered the company’s output output in 2022. Honda’s main competitor, Toyota, also documented solid quantities for the period but with fewer notable boosts many thanks to a more robust supply chain in the prior calendar year. The model sold 203,904 units in September, ending the quarter with 590,296 motor vehicle profits. The two totals characterize calendar year-in excess of-calendar year improves of 13.9% and 12.9%, respectively, reduced than Honda’s gains above the period of time but reflective of an bettering market. In its report, Toyota emphasised the achievement of its electric, hybrid and gas cell lineup, which occupied far more than just one-fourth of the brand’s complete product sales volume.


CBT News 40 Under 40

American automakers observed related enhancements. General Motors noted 3rd-quarter motor vehicle product sales of 674,336 models, an improve of 21% year-about-year. To day, the organization has sold 1,969,522 autos in 2023 and is at present 19.3% forward as opposed to the exact position in 2022. Ford also realized achievements in Q3 but arrived slightly behind its competitor in conditions of quantity. The Blue Oval brand name offered 500,504 units from July as a result of September, a beneficial change of 7.7%. As of reporting, the company’s income stand at a calendar year-to-date overall of 1,508,072, 9.2% bigger than in Oct of 2022. Although it fell behind GM in overall volume, Ford noted in its push release that it defeat its rival in the pickups and vans segment by about 64,000 units, retaining its situation as America’s No. 1 maker of vans.

Over-all, auto companies continued to report sturdy income in the U.S. above September and the 3rd quarter, heralding the return of demand from customers to the American automotive industry. Having said that, as every single model contended with source chain disruptions in 2022, the large calendar year-above-calendar year proportion advancements may well mislead some into pondering that the car or truck organization is back to its entire energy. Vehicle sales are still perfectly guiding their pre-pandemic totals, which signifies that a considerable part of the automotive industry’s purchaser base has nevertheless to re-enter the industry. In addition, manufacturers with domestic producing functions, exclusively Basic Motors, Ford and Stellantis, are experiencing an ongoing strike from the United Vehicle Workers union, which could stop them from retaining their recent growth into the fourth quarter. On the other hand, this could get the job done to the gain of import makes in the coming months, offered they can supply more than

Read More... Read More

Why are some vehicle sections however tough to come across?

We termed up automobile dealerships on Friday to see how they were being emotion about the United Auto Workers strike against Typical Motors, Ford and Stellantis. Base line: They’ve obtained adequate stock to temperature a disruption for now, but that could adjust if the strike drags on.

But these dealers introduced up a independent problem that is influencing their firms: prolonged wait around situations for some car or truck parts, which can imply extensive waits for drivers to get their cars and trucks fixed.

These backlogs are persistent even just after some of the supply chain snags and microchip shortages of the final number of several years have improved. 

Most sections are really easy to find these times for Brian Moegelin, owner of Brian’s North Stop Automotive, an unbiased maintenance shop in Burlington, Vermont. That incorporates tires, brakes and exhaust and engine sections.

But there’s a 2015 Chevy Volt he normally takes treatment of that demands a rear spring. And he reported the only put he can get it is from a dealership.

“I purchased that spring, I want to say back again in May possibly,” Moegelin mentioned. “And there is continue to no day as to regardless of whether, you know, when I’m likely to see this spring.

Moegelin is jogging into the very same issue a ton of dealerships are facing right now, explained Todd Campau with S&P World-wide Mobility. 

“Typically, dealerships want certainly to use the authentic branded section for no matter what brand they are servicing,” he claimed.

And these models, including Ford and GM, are still participating in catch-up right after that chip lack, claimed Patrick Olsen, editor-in-main at Carfax.

“Now, even though demand from customers for new cars is quite significant, they genuinely want to prioritize putting areas into these new cars vs . into repair service areas,” he mentioned.

And that is a difficulty, Olsen explained, mainly because our aged cars are receiving older. 

“People are holding on to their cars and trucks and maintaining them,” he reported. “And that’s fantastic. But it also signifies that pieces fail and people today wind up in mishaps. And so that total age means that there’s just much more operate that desires to be done.”

There is one variable that could raise the supply of car pieces, mentioned Campau at S&P World-wide: the UAW strike. If influenced automakers slash their output, suppliers could flip their awareness absent from components for new vehicles. 

“If this strike elongates, you could probably see Tier 1 suppliers established up tooling to create again their mend stock,” Campau reported.

So it’s possible that Chevy Volt in Vermont will finally get that spring it desires.

There is a whole lot taking place in the world.  By means of it all, Market is below for you. 

You count on Market to split down the world’s occasions and convey to you how it affects you in a actuality-centered, approachable way. We rely on your fiscal support to keep building that probable. 

Your donation now

Read More... Read More

United Vehicle Personnel strike could generate up new and applied automobile price ranges, lead to components scarcity

If the car staff strike continues for a pair months, it could pressure the provide of well-known cars and rapidly travel up vehicle and truck costs.

Whilst it really is nonetheless too early to inform how very long the strike will very last and how several car vegetation will be influenced, shoppers are previously involved about how the get the job done stoppages will have an affect on their capability to buy a new or used motor vehicle, or mend one particular they previously individual. 

“Customers are unquestionably having jittery questioning what to do. It’s a anxious time for them, and I do not know if they comprehend that the major issue will be parts,” Tom Maoli, a Ford dealership proprietor in New Jersey, explained to CBS MoneyWatch. “That usually means tires, breaks, something you need to have to modify and hold your auto jogging.” 

If the strike resolves around the study course of the future few times, the effects on sellers and individuals will be nominal, according to industry experts. 


Biden preserving shut look at on UAW strike

01:59

60 days of stock

The Huge Three automakers — Ford, GM, Ford and Stellantis — whose workers are on strike, grew their inventories in August in anticipation of a prospective employee strike. They have about 50 to 60 days’ really worth of stock on hand, according to Cox Automotive, a resource of vehicle industry facts. 

Sellers are also at ease with the volume of autos on their lots, a modern survey measuring vendor sentiment from Cox Automotive found.

This time a calendar year in the past, dealerships claimed stock concerns ended up the top aspect keeping again their firms. This calendar year it ranks significantly lower. “Currently, they are significantly much more worried about curiosity prices, the financial state all round and automobile affordability,” Cox Automotive spokesperson Mark Schirmer told CBS MoneyWatch. 

“Dealerships have adequate stock to satisfy consumer demand, for the time staying,” he included. 


UAW probable to see more calls for achieved amid strike, previous spokesperson states

03:46

Price hikes

Maoli, the Ford dealership proprietor, stated if the strike carries on for two weeks, he’ll begin to sense the pinch, and would expect to hike costs by up to 20%. 

“Inventories on tons of dealerships will start drying up as they get bought and there will not likely be ample cars to go all around,” he stated. 

Jessica Caldwell, executive director of insights at Edmunds, a supply of automotive details, agrees the critical to analyzing the strike’s consequences on automobile costs will be its length. If it endures, cars and trucks will begin selling at or over their listing selling prices, or manufacturer’s suggested retail selling prices (MSRPs).

“Proper now it’s pretty constrained, but it his hitting people at a time when it can be been tough for a lengthy period of time of time,” she stated. Interest fees are significant and prices on utilized motor vehicles are up, “so there are not a ton of

Read More... Read More

Rising Vehicle Lifespan and Sustainability Drive Growth in the Global Automotive Coolant Industry to 2028

Company Logo

Company Logo

Global Automotive Coolant Market

Global Automotive Coolant Market

Global Automotive Coolant Market

Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) — The “Automotive Coolant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.

The global automotive coolant market, valued at US$ 4.8 billion in 2022, is poised for significant growth in the coming years, with projections indicating a rise to US$ 6.6 billion by 2028.

This impressive growth is expected to be driven by several key factors and trends in the automotive industry.

Automotive coolant, commonly known as antifreeze, is a crucial component used to regulate a vehicle’s temperature within a specific range.

It is primarily composed of ethylene glycol or propylene glycol mixed with water and contains additives such as corrosion inhibitors and antifoam agents, enhancing engine performance. The primary function of coolants is to prevent automobile radiators from overheating during summer and freezing in winter, thus averting potential breakdowns.

Key Growth Drivers:

  1. Thriving Automotive Industry: The global automotive industry’s robust performance is a primary catalyst behind the market’s growth. There has been a notable increase in the demand for passenger vehicles in recent years, significantly contributing to the market’s expansion.

  2. Stringent Regulatory Policies: Regulatory policies governing the safe disposal and recycling of antifreeze materials have driven the adoption of reusable coolant variants. Awareness among consumers about proper disposal practices has also increased, as used coolants can contain toxic heavy metals harmful to the environment and soil.

  3. Technological Advancements: Manufacturers are formulating advanced coolants using technologies such as Inorganic Acid Technology (IAT), Hybrid Organic Acid Technology (HOAT), and Organic Acid Technology (OAT). These innovations result in the creation of silica- and phosphate-free products, further boosting market growth.

  4. Increased Vehicle Lifespan: Improvements in the average lifespan of vehicles have led to a higher demand for quality automotive coolants. Longer vehicle lifespans necessitate effective coolant solutions for prolonged performance.

  5. Environment-Friendly Coolants: The introduction of environment-friendly coolant options aligns with growing sustainability efforts and environmental awareness.

  6. Rising Disposable Incomes: The disposable incomes of consumers have been on the rise, contributing to increased spending on automotive maintenance and coolant products.

Market Segmentation:

The report offers a detailed analysis of key trends within various segments of the global automotive coolant market. The market is segmented based on product, type, application, and end-user.

Product Types:

  • Ethylene Glycol

  • Propylene Glycol

  • Glycerin

Coolant Types:

  • Inorganic Acid

  • Organic Acid

  • Hybrid Organic Acid

  • Others

Applications:

  • Passenger Cars

  • Commercial Vehicles

  • Two Wheelers

  • Others

End-User Segments:

Regional Insights:

  • North America

  • Asia Pacific

  • Europe

  • Middle East and Africa

  • Latin America

Competitive Landscape:

The report provides an in-depth analysis of the competitive landscape within the global automotive coolant market. Key players in the industry include Total S.A. (Total), ExxonMobil, Castrol Limited, The British Petroleum Plc, Cummins Inc., Royal Dutch Shell Plc, BASF SE, Chevron Corporation, The PJSC LUKOIL, Motul S.A., and China Petrochemical Corporation (Sinopec Group), among others.

Key Questions Addressed:

  1. How has the global automotive coolant market performed, and what is its growth outlook?

  2. What

Read More... Read More