EV Maker VinFast Sets Battery-Lease Pricing in U.S.
Vietnamese electric automaker VinFast set pricing for a battery-lease program and introduced a partnership with Electrify America for fast-charging on its national network. VinFast, which started making gasoline cars in 2019 and delivered its first EV last year, is showing three electric crossovers at the New York auto show. Automotive News reports the automaker is targeting initial sales of the midsize VF 8 two-row crossover and the larger VF 9 three-row crossover in the U.S. by the end of the year. The young automaker is introducing a battery-lease model in the U.S. to make its vehicles more accessible. VinFast will sell vehicles without the battery pack included in the price, and then lease the battery for a monthly fee based on miles traveled. For drivers who don't rack up a lot of miles, VinFast is offering a flexible plan with a monthly subscription of $35 for the VF 8 and $44 for the VF 9. The price includes 310 miles of use each month. After that limit is reached, VinFast will charge 11 cents per extra mile for the VF 8 and 15 cents for the VF 9. Click here to learn more about VinFast’s plan.
Toyota Aims to Rev Up 67-year-old Crown with SUV Model
Toyota Motor Corp plans to launch a sport utility vehicle version of its Crown sedan for Japan, China, and North America, three people said, revamping a car that has been a showpiece of Japan's market for nearly seven decades. The SUV — which will come in hybrid, plug-in hybrid, and full-electric models — marks an attempt to bring the 67-year-old Crown more in line with market trends as consumers shy away from sedans. Reuters reports sales of the hybrid are expected from the summer of 2023 and will include exports to China and North America, while the plug-in hybrid is intended for the domestic market. The electric model is due to launch in early 2024 and the automaker has yet to finalize export plans. As part of the overhaul, Toyota will also roll out a fully remodeled sedan version of the Crown from this summer. Both the SUV and the sedan will be manufactured at factories in Toyota City, Japan. Click here to learn more.
Russia Looks to Shore Up Automotive Market Amid Sanctions
Amid the ongoing military conflict in Ukraine and severe sanctions, Russia’s automotive market is changing as the presence of Asian automakers grows — along with their interest in filling production gaps that could be created after the possible departure of Western producers. Wards reports most global automakers have suspended operations at their Russian production facilities as they continue talks with the government. “We have a clear understanding that some foreign producers plan to retain both their production capacities and the supply of components to Russia,” says Minister of Industry and Trade Denis Manturov, the government’s chief negotiator. “However, the same cannot be said of other companies,” he says. “Non-working enterprises mean non-payment of taxes and degradation of production itself.”Talks with foreign automakers likely will last several more weeks, Manturov says. In the worst scenario, the negotiations would fail and the companies’ Russian assets would be nationalized. Light-vehicle production capacity in Russia is running 50 percent below year-ago levels. Companies continuing to operate include PSMA Kaliningrad Avtotor (which produces Kia and Hyundai models), Haval, GAZ Group, AvtoVAZ, UAZ, Mazda Sollers and Isuzu. Click here to learn more.
Electric Vehicles, Not Luxury Cars, Dominate the New York Auto Show
The auto show, expected after two years of lockdowns to drive off into an irrelevant sunset, isn’t dead yet. Following the vibrant Munich auto show in the fall, the New York International Auto Show will open to the public on Friday, April 15, at Manhattan’s Javits Center and will run through April 24. The format is more compelling than in years past, given the supply chain crisis that has severely delayed deliveries to dealerships, not to mention markups as high as $100,000 over manufacturer's suggested retail price for luxury cars and SUVs. In New York, automakers will showcase new vehicles that even the most neurotic car-spotters have read about only in glossy magazines or seen on YouTube. Bloomberg reports thousands have placed orders for such new cars, sight unseen, and resigned themselves, for years long waits. This week, they’ll at least be able to kick the tires. “Auto shows are still highly relevant in the same way that dealerships are still highly relevant,” says Erin Kerrigan, founder and managing director of Kerrigan Advisors, a consulting firm. “Consumers still like to touch and feel a new car before they purchase it.” Click here for the full story.
Biden Turns to Ethanol to Fight Jump in Gas Prices
In a bid to ease the pressure on gas prices, the Biden administration is easing rules on the use ethanol during the summer driving season. The Biden administration is ready to allow for expanded use of ethanol. The Detroit Bureau reports the White House said President Biden “is committed to doing everything he can to address the pain Americans are feeling at the pump as a result of Putin’s Price Hike. The administration’s strategy to spur the development of homegrown biofuels is critical to expanding Americans’ options for affordable fuel in the short-term and to building real energy independence in the long-term by reducing our reliance on fossil fuels. “Today, the President is announcing new steps to achieve that goal by increasing fuel supplies, offering more consumer choices, and reducing gasoline prices for Americans,” the White House added. The announcement comes on the heels of the White House’s order to release of 1 million barrels of petroleum per day from the national Strategic Petroleum Reserve. That move also aimed blunt increases in the price of gasoline, which has contributed to a surge in inflation across the economy. Click here for the full story.
Dealer Teamwork Has Been Named a 2022 Google Premier Partner
Dealer Teamwork, a leading provider of digital marketing SaaS technology and services for the automotive industry, has achieved 2022 Premier Partner status in the Google Partners program. This month, Google recognized the achievements of top-performing digital marketing partners across the globe by awarding Premier Partner status as part of the new Google Partners program. As the program underwent significant changes for 2022, including redefining what it means to be a Premier Partner through new, advanced requirements, Dealer Teamwork stands among the top 3% of hand-selected agencies from around the United States to receive this recognition. “Congratulations to our Premier Partners for being among the top 3% of Google Partners in the United States. These companies stand out based on their commitment to developing product expertise, building new client relationships, and helping their current clients grow.”— Davang Shah, Senior Director, Google Ads Marketing Holding status within the highest tier of the Google Partners program is a significant testament to Dealer Teamwork’s strive for excellence across the board. Read the full press release on Dealer Teamwork’s Google Partnership here.
Around the Web
Teases What Looks Like a Roofless 296 Spider Model [CNET]
Hyundai Ioniq 5 Pulls Off 2022 World Car of the Year Hat Trick [Autoblog]
Mercedes-Benz's Vision EQXX EV Does Over 600 Miles On a Charge [Motortrend]
Subaru Shows the 2023 Outback's Updates at the New York Auto Show [Autoweek]
