Tag: news in the automotive industry

Nissan Is Considering a Small Electric Pickup Truck for the US

By Didi on August 12, 2024

Report: Nissan Considering a Small Electric TruckNissan Nissan currently only sells the mid-size Frontier and the full-size Titan on American shores. With the Titan struggling to sell even half as well as domestic pickup-truck stalwarts such as the Ford F-150 and Chevy Silverado 1500, it’s only a matter of time until Nissan puts its half-ton truck and heavier-duty XD sibling out to pasture. However, a report by Automotive News suggests the Japanese automaker is considering building a small electric pickup for the US that might not only help offset the Titan’s inevitable death but also appeal to new types of…

Car dealerships slowly examine ChatGPT’s potential

By on July 13, 2023

Dealerships may be dabbling in ChatGPT right now, but some of their technology providers believe adoption will happen swiftly. “I think we’re talking a year to a year and a half where [ChatGPT is] doing a huge amount of the car-buying process itself in an automated way,” Horwitz said. IMG05 TruVideo — maker of a messaging, video and AI platform for dealerships — added ChatGPT to its communications software and started a rollout of its updated technology in April, said CEO Joe Shaker. Shaker, who is also owner of Shaker Auto Group in New England, said the technology enables the…

The latest numbers on the automotive microchip shortage

By on July 10, 2023

There are more signs that the microchip shortage is easing, even as automakers cut 82,573 vehicles from production plans worldwide last week, according to the latest estimates from AutoForecast Solutions. North American factories lost 38,677 vehicles because of a lack of semiconductors last week, in addition to 21,700 cut from assembly plants in China and 22,196 removed from production schedules elsewhere in the Asia-Pacific region. For the second consecutive week, AutoForecast Solutions lowered its full-year production-loss estimate for North America. It now expects about 954,206 vehicles to be cut in the region by year’s end, an improvement from the 1.01…

REE Automotive Announces First Quarter 2023 Financial

By on May 31, 2023

TEL AVIV, Israel, May 23, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: REE) (“REE” or the “Company”), an automotive technology leader and provider of electric vehicle (EV) platforms, today announced its financial results for the first quarter ended March 31, 2023, through a shareholder letter posted on the company’s investor relations website at https://investors.ree.auto. The company will also hold a conference call today, May 23 at 8:30 am ET. The live webcast of the conference call can be accessed on the Investors section of the Company’s website. Click here for webcast URL. For the telephone conference online registration, click…

The UK expects a deal on EU ‘rules of origin’ for EVs

By on May 30, 2023

The UK and the European Union will “soon” announce a solution on post-Brexit trading rules that automakers warn could lead to factory closures, Business and Trade Secretary Kemi Badenoch said. “This is not a UK problem, it is an EU-UK problem. It works both ways,” Badenoch told Bloomberg on Tuesday on the sidelines of the Qatar Economic Forum in Doha. “We should see an answer soon.” Stellantis this month warned that British car plants would close with the loss of thousands of jobs if the issue was not addressed. Ford called for post-Brexit EU trade requirements on rules of origin…

Auto industry, partners, researchers join the EV charging consortium

By on May 25, 2023

The National Charging Experience Consortium has more industry involvement than other government-led consortia, Smart said. The industry has struggled with charging consistency and reliability for a number of reasons, including a lack of data sharing as automakers and charging companies are reluctant to share data with competitors. The national labs will keep members’ data confidential and provide an independent review of data from all participants, Smart said. Industry participation is critical to scaling and validating EV charging infrastructure, Smart said. “Our goal is to produce solutions that the industry buys into and can immediately implement to overcome barriers to charge…

April sales up 2.3% but still below pre-pandemic levels

By on May 9, 2023

New light-vehicle sales in April were up 2.3 per cent compared with the same period last year, but still below pre-pandemic levels, at an estimated 144,069 units compared with 180,616 in April 2019, according to DesRosiers Automotive Consultants. Sales in April were also slightly below March. All figures are estimates now that the vast majority of automakers report sales on only a quarterly basis. DesRosiers managing partner Andrew King said in a statement that the seasonally adjusted annual rate of sales for April was 1.48 million units. King says that’s easily the weakest reading so far in 2023, and a…

Ford sales rise 10% in the first quarter as inventory improves

By on April 10, 2023

Ford Motor Co.’s US light-vehicle sales rose 9.9 percent in the first quarter, driven by increasing supplies and strong demand for new products. Sales by the Ford brand jumped 10 percent, making it the bestselling US brand in January through March. Lincoln sales fell 1.1 percent on fewer deliveries of the Corsair compact crossover. In March alone, the company’s sales rose 7.5 percent, with an 8.2 percent gain for the Ford brand and a 6.9 percent decline for Lincoln, according to the Automotive News Research & Data Center. Ford’s electric vehicle sales in the first quarter rose 41 percent from…