The average cost of buying an electric car is now $10,000 more than buying a gas-powered one, and Japanese lawmakers want to lower zero-emission vehicle targets, Hyundai Ioniq 5. All that and more in morning shift On June 27, 2022.
1st gear: Average cost of electric vehicles 1s on the rise
Everyone knows that electric cars are more expensive than their gas-powered counterparts. TThere is an increasing demand for battery-powered cars and the rising costs of the components needed to manufacture them Their cars are more expensive.
The Wall Street Journal Reports Price hikes from the likes of General Motors, Tesla and Ford now mean the average price for a new electric vehicle is $54,000 – make it Around $10,000 more than the average cost of a new gas-powered car.
according to The Wall Street JournalSentencesManufacturers have been raising the prices of their electric cars “in part to offset the high cost of materials used in their large batteries”. This has included Rise in the cost of the Hummer EV More than $6000 and a warning from Ford is no longer making a profit On sales of the Mach-E Mustang. The The Wall Street Journal Reports:
The companies say they are trying to offset the recent rise in prices for the raw materials that go into batteries to power electric cars, by far the most expensive component of an electric vehicle. Prices for lithium, nickel and cobalt have nearly doubled since before the Covid-19 pandemic, according to consulting firm AlixPartners LLP.
In recent months, Tesla and Rivian raised prices too of their electric vehicle fleet. This, besides, in some cases, phase out Electric vehicle tax credits mean that one of the biggest barriers to electric vehicle adoption appears to be getting bigger..
However, with more marquis launching their battery-powered models on the scene, competition could force prices to trend in the opposite direction. Here hopes to release New models like VolkswagenVinFast and Hyundai can help do this.
second gear: Japan wants to lower its zero-emission vehicle targets
WAs countries around the world aim to switch to zero-emissions vehicles such as electric vehicles, hydrogen-powered trucks or other clean energy means, Japan appears to be slowing.
The country, which is home to auto manufacturers such as Toyota, Subaru, Honda has reportedly lobbied fellow G7 nations to remove zero-emissions vehicle targets from its car Objectives to tackle climate change. As reported by Reuters:
Japan has proposed removing reference to a “collective target of at least 50% zero-emission vehicles by 2030,” according to a draft statement reviewed by Reuters.
In its place, it proposed a less realistic goal of “substantially increasing the sale, sharing and uptake of light zero-emission vehicles while recognizing the range of pathways members adopt to achieve these goals,” according to the draft.
This all sounds pretty lousy to me, as there’s no such thing as replacing a hard digital target with something vague like ‘significantly’. Increasing ‘zero-emission vehicle sales. Who decides what’s important Increase look?
Here in the United States, pBiden, a city resident, said he wants 50% of all new cars sold to be zero-emissions by 2030. This will drive sales of these vehicles from 340,000 in 2020 to nearly 9 million annually by 2030.
third gearGas price hikes don’t mean changing small cars
And it’s not just global targets for electric vehicle adoption that may struggle to encourage people to buy battery-powered cars, Gas price hike It doesn’t do much to help the switch either.
Where you might expect the current $5 a gallon average we’re having in the US might force people to reconsider their daily drivers, New report from Auto News He says this hasn’t happened yet.
The report found that although The higher cost of refilling the tank in your F-150 or Suburban, drivers across the country remain attached to their larger vehicles. This, she says, contrasts with what happened in 2008, when fuel prices also saw a sharp rise of $4 per gallon. At that time, automakers rushed to push of cars more economical because consumer demand. (See also: EV project doomed for Chrysler from that time.)
But now, automakers don’t see anything similar the demand. This is according to the report as a result of the increased efficiency of these larger cars in 2022 compared to 2008. According to Automotive News:
“Aside from the proliferation of electric options, experts report a significant improvement in fuel economy for most internal combustion vehicles, including large trucks and utility vehicles. For example, the 2022 Ford F-150 all-wheel drive is rated at 21 MPH. gallons combined, which is 50 percent better than the 2008 model year.”
As such, Auto News reports that demand for new gas-powered cars and trucks remains high. So much so that pent-up stocks as a result of production issues are still unable to keep up with consumer interest.
4 gear: Infinity Banking on a brand update
Although it may seem that Infiniti has been a bit forgotten in recent years, everything is about to change for Nissan’s premium offerings. According to the brand, its casing has been updated which will include the all-new QX80 that will form the hub A bit of a brand makeover.
Auto News Reports Infiniti is preparing to relaunch in the coming months. According to the site:
Infiniti Chairman Peyman Kargar told Automotive News that the campaign will take off this fiscal year and develop a more consistent and evolving brand image, after the plan was publicly outlined for the first time.
“The plans include a new look for Infiniti dealerships, a new design language for its vehicles and a host of touches to impress customers, such as the unique Infiniti scent and distinctive sound.”
The relaunch will center around the next-generation QX80, which the group hopes will be able to assert its position as a true luxury SUV. If this works out, Infiniti will hope to turn its fortunes around in recent years, which has seen sales fall 55% globally in 2021 and nearly half here in the US.
5 gearHyundai and Kia sweep the electric car floor
Infiniti Perhaps you should take a leaf out of Hyundai and Kia’s playbook. That’s because the two automakers have been sweeping since the launch of their latest electric cars here in the US
In fact, Bloomberg reported that the Ioniq 5 from Hyundai and EV6 from Kia They were the best-selling electric cars in the US for the first five months of 2022. The two new cars outperformed everything from the Ford Mustang Mach E to the Chevrolet Bolt and Nissan Leaf. According to Bloomberg:
Earlier this year, South Korean automakers introduced two new battery-powered vehicles — the Hyundai Ioniq 5 and its brother, the Kia EV6 — that instantly tore up sales charts, outpacing the Nissan Leaf, Chevrolet Bolt and all other electric vehicles. In the market it was not made by Tesla. In the US from this year through May, Hyundai and Kia sold 21,467 of these machines, outperforming even the Ford Mustang Mach E, bought by 15,718 drivers.”
he is The real key to unlock EV volume A pair of cool battery-powered SUVs disguised as a hot hatchback? Who knows.
Back: Route 66 enters the history books
Neutral: How are you?
It’s a new week, how was the weekend? Do you have anything exciting planning for the next week? I have a friend from my country visiting me this week, so I’m making a list of super American things to do while in New York. Any suggestions are always welcome!