Tesla missed market estimates for first-quarter total gross margin after cutting prices in the US and globally. The electric vehicle maker reported a total gross margin of 19 percent, compared with an expectation of 22 percent from analysts polled by Refinitiv, Reuters reported. Net income during the most recent period dropped 24 percent to $2.5…
Category: Automotive News
Leasing a Nissan Leaf just got cheaper
Nissan was an early proponent of local sourcing for the Leaf, when it constructed a dedicated battery plant next to its Smyrna vehicle assembly that produced its own battery cells. Japanese supplier Envision AESC now operates that battery production center on the Smyrna site. But now, to qualify for the full $7,500 federal tax credit,…
$200 million GM EV parts plant slated for Auburn Hills, Mich.
GM plans to begin making the Chevy Silverado EV and GMC Sierra EV at its Factory Zero in Detroit this year before adding the Orion plant as a second assembly site in 2024. Together, the two plants will give GM the ability to make 600,000 electric pickups a year. “General Motors has identified the former…
VW battery plant gets up to $13B in federal money
Still, the size of the incentives is striking. The production support alone is expected to range from $8 billion to $13 billion over 10 years, depending on how much the plant produces and what happens with US policy. The contract is written so that Canada’s production subsidies will stay in place only as long as…
JLR’s new identities: Range Rover, Discovery, Defender, Jaguar
JLR announced Wednesday that Jaguar’s first car under its new strategy will be a four-door electric GT priced at more than £100,000 ($124,200) with a range of up to 700 kilometers (435 miles). The absence of the Land Rover name in the rebrand created controversy on social media within the UK, with some commentators assuming…
What Happens if ADAS Calibration Isn’t Done?
Automotive design and technology are constantly evolving; each year, vehicles become increasingly advanced and reliable on electronic and computerized features to deliver better safety, performance, and comfort. Windshields are no exception. Although the windshields of newer vehicles may look like they’re just a piece of glass, most of them contain sensors, cameras, and other advanced…
New Toyota CEO touts a three-step plan to EV profits and productivity
From now on, Toyota enters the second phase, when it will quickly incorporate learnings and improvements from those EVs into forthcoming model introductions. That stage will last until around 2026, when Toyota will have built up enough capacity to sell some 1.5 million EVs globally. The third phase kicks off in 2026, when Toyota introduces…
Maserati updated the lineup with a choice of EVs, hybrids, combustion
Peffer said Maserati’s sales last year and so far in 2023 are primarily utility vehicles. Early data shows that around 80 percent of Grecale sales are conquests. The Grecale starts at $64,995 with shipping, a price point that may surprise some consumers. Houston Maserati dealer Steven Wolf said the brand’s image can make people assume…