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. However, BYD’s delivery estimates for 2024 are a third of 2023’s sales growth, which was 62.3%. In February, it slashed the prices of all its vehicles between 5% to 20%.

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CN EV Post

MARCH 16, 2023

A Volkswagen joint venture in China has started offering official discounts as the price war in the Chinese auto industry continues. The Volkswagen Phideon, with an official guide price of RMB 343,000 to RMB 449,000, received an RMB 50,000 discount, while most other models received discounts of RMB 25,000 to RMB 30,000.

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Teslarati

JULY 14, 2024

New data from Q2 suggests that used electric vehicle (EV) prices are stabilizing in the U.S., According to the Q3 2024 Used EV Market Report shared by Recurrent Auto last Wednesday, used EV prices appear to be stabilizing—particularly in the $20,000 to $25,000 price range.

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Baua Electric

MAY 3, 2024

Albemarle pointed to higher EV sales in China in April, including at major automaker BYD, as a positive sign for lithium prices, but cautioned that current pricing would limit new projects from getting off the ground. “If prices stayed where they were today, you’d see us ramping capex down. .

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Baua Electric

JULY 7, 2024

LG Energy Solution Ltd (LGES), South Korea’s leading battery maker , said on Monday its second-quarter operating profit plunged 58% from a year earlier due to slowing sales of electric vehicles. Sales are projected to fall 30% to 6.16 Operating profit for the three months ended in June is estimated to have plummeted to 195.3

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Baua Electric

JULY 30, 2024

Toyota’s global sales fell over 5% last month, partly driven by the impact of BYD’s price cuts in key markets like China, Southeast Asia, and even Japan. Although demand remained strong in North America and Europe, pressure in Japan and China led to fewer sales. The Japanese automaker’s global sales are down 0.9%

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Push EVs

APRIL 8, 2023

share of the auto market in March, down from 91.9% Overall auto volume was 19,366 units, up some 19% YoY, and the highest March sales since at least 2016 (though compensating from a hangover earlier in Q1). The Model Y alone took over 38% of Norway’s new passenger auto registrations in March. year on year.

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Baua Electric

AUGUST 22, 2024

An old gas station converted into Tesla Supercharger The main lobby group of the German automobile industry has recommended that all fossil fuel sales should be ended in Germany by 2045, but it’s still advocating for less-efficient e-fuels over rapid electrification.

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Baua Electric

AUGUST 28, 2024

BYD credited the Q2 profit surge to rebounding vehicle sales, which reached a new record. BYD record vehicle sales lead to higher Q2 profits BYD announced net income reached RMB 9.06 Despite slashing prices and launching more affordable EVs, BYD’s bottom line nearly doubled from the first three months of 2023 (+98%).

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The Truth About Cars

JUNE 16, 2023

Florida governor and GOP presidential candidate Ron DeSantis recently joined the fray when he signed House Bill 637, legislation that blocks direct auto sales for most brands but not all.& & As Inside EVs pointed out, the bill’s language prohibits direct-to-consumer sales by automakers.

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Teslarati

SEPTEMBER 10, 2024

Tesla ( NASDAQ:TSLA ) has received an optimistic “Buy” rating and $295 price target from Deutsche Bank analyst Edison Yu. With his $295 per share price target for TSLA shares, Yu’s estimate for the electric vehicle maker is among the highest on Wall Street. Don’t hesitate to contact us with news tips.

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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%

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Baua Electric

MAY 23, 2024

While SQM’s quarterly lithium revenues fell 67% from a year earlier, its lithium sales volumes grew 34%. million for the first three months of the year, as oversupply of the metal needed for EV batteries drags on prices. SQM’s sales distribution follows the same pattern. This brought a loss of USD 3.04

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CN EV Post

MARCH 9, 2023

A rare price stampede is taking place in the Chinese auto market. Image from BMW China Weibo) As a large number of car companies in China are offering huge subsidies or price cuts, BMW is offering more than 100,000 yuan ($14,360) off its all-electric model, the i3, according to local media.

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Baua Electric

MARCH 8, 2024

The Chevy Blazer EV stop-sale finally ended Friday after almost three months. With drastically lower starting prices, the Blazer EV now starts at just over $50,000 and qualifies for the full $7,500 federal tax credit. The company confirmed it was temporarily pausing sales to fix a software quality issue.

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CN EV Post

APRIL 3, 2023

Price wars have now become the consensus among investors, setting a relatively low bar for EV makers to beat. The underlying cause of sluggish auto sales in China can be mostly attributed to consumer sentiment. In addition, as automakers cut prices, consumers felt more compelled to wait for better deals, the team said.

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CN EV Post

MARCH 22, 2023

Reducing prices to deal with inventory and properly recover costs are normal business practices, but these tactics should not turn into price wars, the CAAM said. Image credit: CnEVPost) The price war is one of the most talked-about topics in China's auto industry this month, creating operational challenges for many car companies.

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Teslarati

NOVEMBER 29, 2023

Automotive sales in European Union (EU) countries are expected to slow next year, though some are reporting that the slowdown will cause a sharp increase in electric vehicle (EV) market share. In January, the ACEA forecasted a 5-percent increase in 2023, showing the overall auto market slowing throughout this year. percent this year.

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Teslarati

JULY 10, 2024

The numbers Tesla reported for its energy storage deployments for Q2 have Morgan Stanley and its analyst Adam Jonas considering the division as more of a factor in its breakdown of the $310 price target it has put on shares. In fact, his $310 price target has been broken down in a way that reflects auto making up $284 of it, Reuters said.

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Baua Electric

JULY 1, 2024

China’s leading EV maker, BYD , set a new monthly NEV sales record as it battles for market share in an increasingly competitive market. The growth after BYD slashed prices on some of its top-selling electric vehicles. BYD sold 341,658 new energy vehicles (NEVs) last month, its highest monthly total ever.

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Electrek

JULY 7, 2023

Once considered the leader in China’s auto industry, Volkswagen has watched its share of the pie shrink over the past year or so as EV makers like BYD, NIO, and Tesla steal the show. In an attempt to draw in buyers, VW is slashing the price of its small ID.3 3 electric car. For a limited time, VW will offer the ID.3

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Baua Electric

JUNE 3, 2024

China’s leading EV maker, BYD , nearly reached a new sales record in May after aggressive price cuts took effect. BYD posted its second-highest sales last month as new energy vehicle (NEV) sales continued picking up. BYD’s NEV sales were up 38% year-over-year (YOY) and 5% from the 313,245 sold in April.

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Baua Electric

SEPTEMBER 25, 2024

By: HT Auto Desk | Updated on: 25 Sep 2024, 14:40 PM JSW MG Motor has introduced the new special editions of the Hector and Astor SUVs ahead of the festive season to boost sales. The price of the Hector Snowstorm starts from ₹ 21.53 lakh (ex-showroom) while the starting price of the Astor Blackstorm edition is ₹ 13.45

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Teslarati

JULY 18, 2024

Tesla ( NASDAQ: TSLA ) has gotten several updates to its price target from various analysts and firms as the Q2 Earnings Call next week takes focus. What caused Tesla price target increases? Wedbush Wedbush raised its price target by $25 to $300 from $275, citing a “major turning point” in the bull case.

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Baua Electric

SEPTEMBER 26, 2024

In a new forecast, J.D. Including retail and non-retail transactions, total US new-vehicle sales for September 2024 are projected to reach 1,164,900 units. Comparing the same sales volume without adjusting for the number of selling days translates to a drop of 13.2% billion on new vehicles this month.

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Baua Electric

JANUARY 17, 2024

Minda Corp sold 1,91,22,458 shares of Pricol at an average price of INR 345 apiece for approximately INR 660 crore, according to bulk deals data on the exchanges. After almost a year of investing in Pricol Ltd, Minda Corporation exited the automotive component maker by selling its entire 15.7% stake through the open market on Wednesday.

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Baua Electric

MAY 8, 2024

According to the data gathered, Carvana saw that its used EV sales mix achieved new highs while the price margin compared to traditional combustion vehicles narrowed. The EV trends report combines Carvana’s EV sales data by state plus other metrics from Kelly Blue Book and MarketCheck. of its total.

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The Truth About Cars

APRIL 12, 2024

New car prices are slowly returning to reality, but the universe isn’t done torturing buyers. A new report from Reuters found that insurance rates are climbing just as the financial pain of buying a new car is easing. Image: Photo Spirit via Shutterstock] Become a& TTAC& insider.

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Teslarati

MARCH 28, 2023

1 & 2 – updated to reflect mathematical accuracy BYD has apparently been unfazed by Tesla’s dramatic price cut at the beginning of the year, as it has reported an 11-fold profit increase in Q4 year over year. BYD auto sales were the most significant success of the Chinese conglomerate. Update: 11:48 AM ET: para.

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Baua Electric

SEPTEMBER 26, 2024

South Korea’s leading automakers are doubling down on their efforts to cut EV costs with new battery tech. Hyundai and Kia are teaming up to develop LFP battery materials to power up lower-priced EVs. of global EV battery sales in the second quarter. Electrek’s Take Hyundai and Kia are already climbing the global EV sales ranks.

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Baua Electric

MAY 20, 2024

The world’s lithium miners — facing an unprecedented demand surge and wild price swings — are shaking up the way the commodity is bought and sold. These sales are a significant step for lithium, which until relatively recently was largely sold at prices fixed in long-term contracts. Albemarle Corp. , Albemarle Corp. ,

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Baua Electric

JULY 19, 2024

Tesla has increased Model S and Model X prices by $2,000 across the board. Interesting move has sales are collapsing. As we recently reported, Tesla Model S/X sales are crashing and Tesla is hiding it. Tesla is the only major automaker that doesn’t break down its sales by model. All prices went up by $2,000.

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Baua Electric

SEPTEMBER 25, 2024

Volvo has no plans to challenge low-cost EVs in China as the ongoing price war intensifies. Volvo adjusted its 100% EV sales goal and now expects 90% to 100% of global sales to be electrified by 2030. By the end of next year, Volvo sees 50% to 60% of global sales being electrified.

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Baua Electric

JANUARY 17, 2024

The 2024 Model Y (Source: Tesla) Tesla has slashed the prices of its Model Y across Europe this morning, after it reduced prices of its Model 3 and Model Y prices in China to undercut BYD, according to CNBC. In Germany, Tesla reduced the price of its Model Y Long Range by €5,000 to €49,990 ($54,340), a discount of 9%.

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The Truth About Cars

JANUARY 31, 2024

EV sales fell for two consecutive quarters last year, down ten percent between Q3 and Q4, to 89,993 registrations. As Automotive News pointed out, the state still registers a substantial number of EVs, and they accounted for 21.4 percent of auto sales last year.

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CN EV Post

MARCH 12, 2023

FAW-Volkswagen's retail sales of NEVs in January-February were 9,572 units, down 8.3 The price war in China's auto industry continues, with Volkswagen becoming the latest to join in. 6 Crozz, two SUVs with suggested retail prices starting at RMB 217,900 and RMB 258,900 respectively. series of ID.4 4 Crozz and ID.6

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Baua Electric

FEBRUARY 29, 2024

Chile’s SQM , the world’s second-largest lithium producer, on Wednesday posted an 82% fall in its fourth-quarter net profit from a year earlier, below forecasts as prices for the key battery metal continued to slide from earlier peaks. The group’s share price has slid around 30% in the last 12 months.

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