Our Next Energy Develops EV Battery with 608-Mile Range for BMW iX

First Up 11/30/23

Editorial: Car Dealers to Biden: EVs Aren’t Selling

You can subsidize a buyer into the auto showroom, but you can’t make him buy. That’s the word from some 3,900 car dealers across the country who on Tuesday wrote President Biden that electric vehicles are piling up unsold on their lots. They want relief from his onerous and unrealistic EV sales mandate. “There are many excellent battery electric vehicles available for consumers to purchase,” the dealers write in their letter to the President. But they add that “electric vehicle demand today is not keeping up with the large influx of BEVs arriving at our dealerships prompted by the current regulations,” and “BEVs are stacking up on our lots.” Dealers have a 103-day supply of EVs compared to 56 days for all cars, reports The Wall Street Journal. It takes them on average 65 days to sell an EV, about twice as long as for gas-powered cars. EV sales are slowing though manufacturers have slashed prices and increased discounts. Consumers paid on average $50,683 for an EV in September, compared to $65,000 a year ago. Click here for the full story.

Our Next Energy Develops EV Battery with 608-Mile Range for BMW iX

Lithium iron phosphate battery supplier Our Next Energy says its dual-chemistry battery has reached 608 miles of range on a single charge in the electric BMW iX. The battery was assessed through the Worldwide Harmonized Light Vehicles Test Procedure, the European standard for determining EV range. The long-range, dual-chemistry battery pack, called Gemini, gave the iX a significant boost from its EPA-estimated range of about 300 miles. "That's really impressive without increasing the physical size of the battery pack or adding weight to it," Sam Abuelsamid, principal research analyst at Guidehouse Insights, told Automotive News. "It's an important next step in the process of showing the industry what they can do." Concerns about EV range have been a barrier to adoption. Most EVs can drive 200 to 300 miles on a full charge, according to J.D. Power, but a few high-end models exceed 500 miles. Our Next Energy, known as ONE, will refine the battery to prepare for commercialization, which is planned for 2026, it said in a statement Thursday. Click here for the full story.

EVs Are Far Less Reliable Than ICE as Automakers Launch New, High-Tech Models, Consumer Reports Says

Electric vehicles are far less reliable than gasoline-powered vehicles, according to Consumer Reports, but most of their issues represent growing pains as automakers launch models with new powertrains and the latest features that EV buyers expect. EVs had 79 percent more problems than vehicles with internal combustion engines, according to Consumer Reports' 2023 auto reliability survey of 330,000 vehicles. Plug-in hybrids were twice as bad with 146 percent more flaws than gasoline vehicles. But hybrids scored best, with 26 percent fewer problems than gasoline-powered vehicles, Consumer Reports said Wednesday at an event with the Automotive Press Association. New technology is more likely to spur problems, so as EVs enter the market, a low reliability score is unsurprising, Jake Fisher, senior director of auto testing at Consumer Reports, told Automotive News. "The longer a vehicle or a technology is in production, the more the bugs are worked out," he said. "The automakers that have produced EVs earlier, they're improving the reliability." Click here for the full story and to view the rankings.

These Are the Fastest-Selling Used Cars in America

Recently, used cars haven’t been the money-saving alternatives to new models they used to be, as dips in new vehicle inventory and delays have made pre-owned vehicles a hot commodity. Used electric vehicles and hybrids are selling slower than they were a year ago, but some have joined the list of the fastest-selling used vehicles in October, recently released by iSeeCars. According to Autoblog, used vehicles took an average of 49.2 days to sell in October, much faster than the 54.9 days seen in October 2022. Breaking out EVs and hybrids paints a different picture, however, as electrics took 52.4 days and hybrids 46.7 days to sell. Both were significantly worse than the averages in 2022, which were 37.5 and 34.3 days, respectively. Despite that, three hybrids and one EV hit the list of fastest-selling used models. iSeeCars’ executive analyst Karl Brauer said that some buyers are in the sweet spot of avoiding the effects of inflation and higher interest rates and at the same time, many are looking to save money on fuel with more efficient hybrids. Click here to view the list.

Elevating The Service Experience with Proactive Communication and Real-Time Updates

In the world of automotive dealerships, the service experience often represents the most complex and confusing part of the customer journey. From scheduling appointments to understanding the intricacies of vehicle maintenance, customers can easily feel overwhelmed. However, with the implementation of proactive communication and real-time updates, dealerships can transform this experience, enhancing customer satisfaction and fostering long-term relationships, reports CBT News. The power of communication in the dealership experience. Effective customer experience relies heavily on good communication. In a dealership context, it can make all the difference in converting a one-time customer into a re­turning and loyal client for all their automotive needs. Industry buzzwords such as “proactive communication” and “real-time updates” are frequently used, but their actual meaning in relation to customer service may be unclear. This prompts the que­stion: what do they truly mean? The concept of proactive communication involves engaging with customers in advance to avoid problems. This approach entails being attentive to their needs, anticipating issues before they arise, and keeping them updated every step of the way. Click here for the full story.

Carfax Used Car Index: Prices Are Falling!

 

After a month where it looked like used-car prices had bottomed out, they’re now declining further – slowly, to be sure – across the board. When compared to the same time last year, it looks as though they will continue sliding into the spring months. While industry observers had been concerned that the United Auto Workers (UAW) strike against Ford, General Motors, and Stellantis would last a lot longer than it did, the relatively quick end means that inventories were not as drained as dealers had feared. That means consumers have more choices, and that means lower prices.

Prices dropped between $100 and $500 in every category. Changes to average prices in segments:

  • Pickup Trucks continue to see the largest declines month-over-month. Since May, the average price of a used pickup on Carfax has dropped by $2,500. The average pickup truck now sells for more than the average Luxury SUV on Carfax.

  • Speaking of used Luxury SUVs, they dropped by roughly $400 from last month, as did Hybrids & EVs, and Vans.

  • The least-expensive option available, used Cars – including sedans, coupes, and wagons – dropped by $300.

The average price of used SUVs and Luxury Cars dropped by roughly $200 each. Click here to learn more about Carfax.

 

Around the Web

 

Mazda Invests in AI Startup That Promises to Slash EV Design and Development Times [Carscoops]

2024 Rolls-Royce Spectre EV Range Revealed [Car and Driver]

Mini's New Infotainment System Has Video Games, a Digital Assistant Called Spike, and Augmented Reality for Navigation [Carbuzz]

Hyundai, Kia's Uni Wheel Electric Drive System Could Revolutionize EV Design [Autoblog]

Menu
Close