Tag: automotive news canada

EV makers are dividing into leaders and stragglers in US

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Some of the recent darlings of the EV market, including Kia and Rivian Automotive, are off to a slow start this year due to supply chain issues and the loss of the federal EV tax incentive because of tougher eligibility rules. Overall, new EV registrations grew 72 percent in the January to April period, according to Experian, driven primarily by Tesla, with 52 percent growth and a 60.8 percent share of the electric-car market. Non-Tesla brands split the rest of the EV market among 24 marques. But not all makers are enjoying the EV sales surge evenly. And some promising…
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Nissan Mexico head Jose Roman appointed new global Infiniti chief

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TOKYO – Struggling Infiniti is getting a new global brand chief with the appointment of Jose Roman, Nissan’s most senior executive in Mexico and Latin America. Roman, a native of Ecuador, joined Infiniti parent Nissan Motor Co. in 2012 and has more than 25 years of automotive experience in such markets as Mexico, Colombia, Brazil and Japan, the company said in a June 1 news release announcing his promotion. He is managing director of Nissan Mexico and of the Nissan Importers Business Unit, which oversees 34 markets throughout Latin America. Infiniti’s newest leader starts July 1 and will be based…
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CarGurus COO: CarOffer digital wholesale platform remains solid

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Editor’s note: CarGurus said it has the right to buy the rest of CarOffer but has not made a final decision to do so. An earlier version of this story said the company planned to move ahead with that transaction. CarGurus Inc., which acquired a majority stake in CarOffer in 2021, might proceed with plans to buy the rest of the wholesale digital trading platform, a move that could be a show of confidence for the struggling division. And CarGurus COO Sam Zales said CarOffer is poised to break even or become profitable in the second quarter because of the…
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Braking defect prompts Tesla’s big recall in China

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Tesla Inc. recalled virtually every car it’s sold in China due to a braking and acceleration defect that may increase crashes and safety risks. The automaker will deploy an over-the-air software fix to more than 1.1 million vehicles produced in Shanghai from January 2019 to April this year, plus some models imported into China, the State Administration for Market Regulation said Friday in a statement. The defect relates to Tesla’s regenerative braking system, which makes use of energy created when drivers take their foot off the accelerator by sending power to the car’s battery. The vehicles haven’t allowed drivers to…
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45% of used-vehicle loan terms ‘frighteningly’ long at 84 months, up from 25% in 2021

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With high vehicle values ​​and high interest rates compromising affordability, buyers — particularly entry-level ones — have been forced to extend borrowing time frames, Ross said. “Consumers are looking to stay in a consistent monthly payment range to what they used to previously, so the only thing they have is to elongate that loan term,” he said. Ross, Karwel and Abraham saw little relief in sight for buyers as both new- and used-vehicle inventories remained tight. UPSIDE: MORE F&I SALES For dealers, however, the longer loan timelines are creating opportunities. Finance and insurance products, once pitched when selling new-vehicle sales,…
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