Nissan Motor Plans to Sell More Than a Dozen New EV Models by 2026

First Up 03/25/24

Nissan Motor Plans to Sell More Than a Dozen New EV Models by 2026

Nissan plans to start selling more than a dozen new electric-vehicle models, aiming to boost total car sales by 1 million units within three years. The Japanese automaker said Monday that it intends to start selling 30 new models, including 16 electrified models, and targets an additional 1 million vehicle sales by the year beginning April 2026. Nissan also said it plans to revamp most internal-combustion-engine models by then. In February it cut its global sales forecast to 3.55 million units for the fiscal year ending March, down from its previous projection of 3.70 million units, citing disruption in logistics and intensifying competition, reports The Wall Street Journal. The company said Monday it aims to achieve cost parity with internal-combustion cars by the year starting April 2030. Nissan said it will leverage strategic partnerships to stay competitive and explore new partnerships in Japan and the U.S. Nissan has been reshaping its global strategy following the restructuring of its alliance with Renault and Mitsubishi Motors announced in February last year. Click here for the full story.

Hyundai Product Strategy Includes a Mix of Powertrains

Hyundai is committed to an electric future, but it will not abandon consumers who are slower to adopt the expensive and still-developing electric vehicle technology. Gasoline-powered vehicles are a crucial part of the South Korean automaker's plan to transform into a leading EV maker, said Olabisi Boyle, senior vice president of product planning and mobility strategy for Hyundai Motor North America. "We want to make sure our strategy addresses the near term, and that includes fuel-efficient [internal combustion] engines, plug-in hybrids and gasoline-electric hybrids," she said. The infrastructure for EVs has not yet caught up to current vehicle production and the mass market has not embraced the technology, she added. "We need to have choices for everybody." Hyundai has already launched a significant lineup of EVs, including the Ioniq 5 compact crossover, the Ioniq 6 compact sedan and the Kona Electric subcompact crossover, reports Automotive News. Boyle said the automaker is very confident in its current EV portfolio, and with its strategy going forward. By 2030, Hyundai Motor plans to have 11 global electric models. Click here for the full story.

What You Need to Know About Software-Defined Vehicles

Automakers are set to reap the benefits of software-defined vehicles as they start to gain traction, enabling them to capitalize on recurring revenue streams and other key advantages. 2024 will see software-defined vehicles start to deliver on their potential, experts say. "This year, we are seeing the benefits of [a software-defined vehicle] for the first time," Accenture analyst Christof Horn told Automotive News Europe. "This is proof that going from vertical processes to something that is more open, more flexible, more like a platform is working." The industry will start to see which of the newcomers can truly "deliver," said Horn, who heads the consultancy's Industry X unit that specializes in software-defined products. Consolidation is a focus as automakers demonstrate whether they underestimated the challenges or do in fact have the skills needed to build a product with the capabilities of a smartphone but the robustness and durability of a car. Click here for the full story.

Volkswagen Group Warns of Slowing Sales in 2024

The Volkswagen Group says it anticipates a modest 3 percent increase in global sales in 2024, marking a significant decline from the 12 percent lift in sales recorded in 2023, amid greater competition in the electric-vehicle sector, both in Europe and its largest single market, China. During the German automaker's 2023 annual general meeting, Group CEO Oliver Blume acknowledges the persistent challenging global sales conditions but counters a gloomy economic forecast with the news it is preparing for the launch of up to 30 new models this year. “We are preparing for the largest product offensive in the history of the Volkswagen Group,” Blume says. The CEO’s positivity regarding the number of planned new-model launches is backed up by strengthening financial results, reports Wards. According to the Group’s annual report, the Core brand group, which includes Volkswagen passenger cars, Volkswagen Commercial Vehicle, SEAT, Cupra and Škoda brands, generated $150 billion in revenue in 2023. That is just over 20 percent more than reported for 2022. VW Core’s operating profit margin also improved, increasing to 5.3 percent from 3.6 percent the previous year. Click here for the full story.

Why the Automotive Industry Needs More Women Leaders — Vanessa Delegas | Lovering Auto Group

Welcome to another episode of Women Driving the Industry, a show where leaders from across the automotive landscape discuss their professional experiences and shed light on the challenges women continue to face in their careers. In this edition, CBT News host Shyann Malone is joined by Vanessa Delegas, president and CEO of the Lovering Auto Group in New Hampshire. Learn the building blocks to leadership and networking as Delegas shares her experiences entering into the car business from a non-traditional background and climbing the ladder to success. Delegas’ journey to her current role was non-traditional, involving experiences outside the automotive industry and in various roles at her family’s business. This diverse background contributed to her comprehensive understanding of the car business and leadership development.There are complexities and advantages of working in a family business. Delegas discusses the balance between family relationships and professional responsibilities, emphasizing the importance of aligning individual strengths with organizational roles. Click here for the full interview.

 

 

 

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