Biden Touts Legislative Wins to Boost U.S. Production of Microchips, EVs in State of the Union
President Joe Biden, now halfway through his term, celebrated major legislative wins that are designed to boost U.S. production of semiconductors, electric vehicles, batteries and more during his second State of the Union address. "We're going to make sure the supply chain for America begins in America," Biden said. The State of the Union comes as Biden now faces a divided Congress with a House Republican majority and as the U.S. emerges from the COVID-19 pandemic. The president and Congress also face another pressing challenge of reaching a debt limit deal as well as lingering concerns ranging from Russia's war in Ukraine to ongoing tensions with China. Though Biden said more must be done to support steady U.S. growth and lower costs, he pointed to a resilient economy, with public and private investments in manufacturing and infrastructure continuing across the U.S. and inflation showing signs of improvement, reports Automotive News. "Jobs are coming back. Pride is coming back because of choices we made the last several years," Biden said. "This is, in my view, a blue-collar blueprint to rebuild America." Click here for the full story.
2023 World Car of the Year Finalists Revealed: Meet the Contenders
The contenders for the 2023 World Car Awards are coming into focus as the organization has revealed this year’s finalists. In the title category of 2023 World Car of the Year, there’s a diverse group that includes everything from coupes to crossovers to EVs. Among them are the Alfa Romeo Tonale, BMW 2-Series Coupe, BMW X1 / iX1, and Honda HR-V / ZR-V, reports Carscoops. They’ll have to battle the Hyundai Ioniq 6, Kia Niro, Mazda CX-60, Mercedes C-Class, Nissan Ariya, and Nissan Z. While there are several electric contenders in the main category, there’s also an award for 2023 World Electric Vehicle. Finalists include the BMW i7, Genesis GV60, Hyundai Ioniq 6, Kia Niro EV, and Lucid Air. The BMW 7-Series / i7 is also competing for the title of 2023 World Luxury Car. We fell in love with it recently, but the model will have to battle the Genesis G90, Land Rover Range Rover, Land Rover Range Rover Sport, and Lucid Air. The finalists for 2023 World Performance Car are largely a no-brainer and include the BMW M4 CSL, Kia EV6 GT, Nissan Z, Porsche 911 GT3 RS, and Toyota GR Corolla. Click here for the full story.
Subaru Envisions U.S. Lineup of ‘Several' EVs By 2025; Operating Profits Soar
Subaru said it will ramp up its electrified offerings in the critical U.S. market to include several battery EVs by 2025 as it shifts development focus to the segment. The EV rollout will lean on Subaru Corp.'s partnership with Toyota Motor Corp. and be further amplified by the expansion of the company's hybrid models as well, reports Automotive News. "Our main electrification strategy centers on strong hybrids and electric vehicles and introducing such models in the U.S. by 2025," Tomoaki Emori, senior vice president of the corporate planning division, said at the company's Wednesday quarterly earnings announcement. "When we look at the U.S. market situation, we will need to offer several models in our EV lineup," he said. "We have shifted our weight toward that in our development. Subaru said last May that it wants to derive 40 percent of its global sales from battery electrics and hybrids by 2030 and apply electrification to all models in the early 2030s. "The U.S. accounts for 75 percent of our total sales," Emori said. "Given that, we will move ahead with our electrification strategy by responding to U.S. environmental regulations, legal and market trends." Click here for the full story.
Mobility Study Cites Roadblocks for U.S. Electric Vehicles, Sustainable Aviation
Automakers may not be able to build as many electric vehicles as they would like — and consumer demand for those EVs may not materialize as quickly as anticipated — if government and industry do not address and resolve a convergence of issues, a new study released on Tuesday said. Reuters reports, among those roadblocks, a looming shortage of battery raw materials could put government mandates “in conflict with manufacturing reality” — one of the macro trends charted in the 2023 Moving World Report, published by investment firm UP.Partners. Obstacles to the acceleration of EV production and demand in the United States include ongoing turmoil in global supply chains, insufficient vehicle charging infrastructure and an overloaded electrical grid, the 120-page report said. The report notes that EV battery demand is expected to increase tenfold or more by 2030, but that a “massive dislocation” between demand and supply of key materials such as lithium, cobalt and nickel is likely to increase the cost of EVs to consumers — a stark finding as a global price war, ignited by leader escalates. Click here for the full story.
The Surprising Complaint for Gen Z Car Buyers
The youngest demographic to enter the car buying market is the one that is surprising analysts the most when it comes to what they hate the most about the entire car buying experience. Who is Gen Z? This demographic is widely described as people born between 1997 – 2012. The top end of this group is shopping for a car for the first time and will have their first early experiences with sales and F&I, reports CBT News. A recent study by CDK Global revealed the biggest single issue Gen Z has with the dealership experience that would keep them from recommending a particular dealer. The time it takes to move from the showroom to the F&I office is the biggest problem for Gen Z buyers. They don’t understand why it takes so long to make that transition. It’s not about the F&I experience either as they are open to being educated about the value of products…it’s more about why the process is not more streamlined from the time they come into the showroom to getting the keys to drive off the lot. Click here to learn how to improve the car buying experience for Gen Z car buyers.
Around the Web
Mazda Says Miata 'Will Continue to Exist Forever' [Road & Track]
All The Upcoming Models Renault, Nissan, and Mitsubishi Will Launch Through 2026 [Carscoops]
Mercedes-AMG E 63 S Next Generation to Give Up TTV8 for Inline-6 PHEV [Autoblog]
Electric Vehicles Can Now Power Your Home for Three Days [The Washington Post]
