Nissan Aims to Match EV Prices With Gasoline Cars By 2030
Nissan has unveiled a new approach to electrified powertrain development which it says will allow it to achieve price parity between its hybrid vehicles and ICE vehicles by around 2026. Under Nissan’s X-in-1 approach, Nissan will share core powertrain components between its EV and e-Power models and modularize them. This will result in a 30 percent reduction in development and manufacturing costs between 2019 and 2026, reports Carscoops. Not only will it allow hybrids to achieve price parity with ICEs by around 2026 but it will also allow Nissan to achieve price parity between full EVs and ICEs in 2030. Two different powertrains will be developed. The first will be for its EVs that adopt a 3-in-1 module, integrating the motor, inverter, and reducer into a single casing. Meanwhile, the carmaker’s e-Power hybrid models will adopt a 5-in-1 setup that combines the motor, inverter, generator, reducer, and increaser. The reducer used by Nissan slows the revolutions per minute of the electric motor to a speed that will turn the axle and wheels, while the increaser speeds up the revolutions of the e-Power’s combustion engine to spin the generator that recharges the system’s battery. Click here for the full story.
Volkswagen Plans Almost $200 Billion in Investment Focusing on EVs, New Tech
Volkswagen is planning a spending spree of close to $200 billion over the next five years to fix its struggling business in China and try to hoist the German car maker out of its niche as an also-ran in the U.S. The German auto maker said it would target 68 percent of that investment, or about $131 billion, on the development of electric vehicles and new digital technology, with a particular focus on expansion in China and the U.S. That compares with about 56 percent in the previous investment plan, reports The Wall Street Journal. The move is the first major strategy announcement by Chief Executive Oliver Blume since he took the reins at VW in September. With the company’s new five-year investment plan, Blume is now starting a spending war with rival auto makers as he tries to claw back market share in China and make the company’s U.S. business relevant after decades of failed attempts to build significant market share. The big spending by Volkswagen comes as governments around the world shell out subsidies to encourage companies to invest in technologies that speed up the transition away from greenhouse-gas emitting fossil fuels. Click here for the full story.
Kia EV9 Arrives as Groundbreaking Three-Row Electric Crossover
Kia has finally released images of the production EV9, a three-row electric crossover built on the brand's E-GMP flat-floor EV architecture and an electric equivalent to the Telluride in Kia's lineup. According to Kia, the EV9 is a pivotal step forward in its sustainable mobility future. If it sells at the price Carbuzz expects (roughly $50k to $70k), the EV9 will rock the establishment. The design is undoubtedly divisive, but that was the idea. Kia has a new design philosophy called "Opposites United," pushing the artists behind its vehicle to create "unprecedented visual appeal." Kia says the EV9 combines elements from the natural and material worlds. Up front, it has a Digital Tiger Face, which is an evolution of the usual tiger-nose grille. You may have noticed the change, with the 2023 Kia Niro best demonstrating the move from the old to the new. The EV9 takes it a step beyond with its new Star Map LED daytime running lights, which create an animated lighting pattern that debuts the new Digital Tiger Face that will also feature on upcoming EV models. Click here for a video. Click here to learn more about the Kia EV9.
How Dealerships are Dealing with the EV Transition
The shift to electrified vehicles represents the biggest change in the automotive industry since its inception some 120 years ago. One focal point of that change is in the retail automobile sales and leasing experience at franchise dealerships. The Detroit Bureau reports, EVs are sold differently, serviced differently, and traded in differently, and dealerships are being forced to change with the times. Additionally, brands like Tesla have bypassed dealerships entirely while others, such as Volvo, have indicated they will sell EVs directly to consumers, using the dealerships as delivery services. EVs and hybrids are not equally popular in every region and locality. Randy Barone is vice president of business development at ACV Auctions. Working with dealer auctions, Barone has a unique view into the back office of dealerships as they look for stock that will sell in their markets. Barone is tracking how dealership stores are faring in the transition to electrified vehicles. “I’m in and out of stores on a consulting basis, so I can get to see what’s actually happening in the stores from a firsthand perspective,” Barone says. “I would tell you that it’s kind of a mixed bag right now.” Click here for the full story.
CPO Sales Stronger Than Predicted in February — Cox Automotive
According to Cox Automotive, Certified Preowned (CPO) sales are up year-over-year despite expectations of a decline. CPO sales climbed 1.9 percent to 205,946 units from January to February, which constituted a change of 7.3 percent when compared to the same period last year, reports CBT News. To date, sales in this segment are nearly 14 percent higher in 2023 than they were in early 2022. This also coincides with a 3.5 percent increase in total year-over-year used car sales, which arrived at 1.7 million before March, although a minor slowdown was observed in the sales pace last month. This positive change in CPO sales came as a surprise to Charlie Chesbrough, senior director of economic industry insights at Cox Automotive, who comments “…the CPO sales pace so far this year is running hotter than expected.” According to Chesbrough, the “initial forecast was for CPO sales to fall a bit this year,” but as a result of OEM efforts to remedy short supplies of off-lease units, “…automakers are expanding their CPO programs to include older vehicles.” Click here for thet full story.
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