Author: Central Desk

The U.S. car market is downshifting. The resilience that began with the collapse of the banking sector persisted for several months, but now its momentum is diminishing. Last summer, average car prices hit a record high. There was also oversupply. A combination of these factors is the reason why prices are currently falling. A study released by UBS suggests that car production worldwide will outstrip sales by a margin of 6% this year. This could result in a surplus of roughly 5 million vehicles, necessitating major price reductions to encourage sales, as Yahoo Finance reports. UBS shares insights in a note…

The escalating costs, declining demand, and intense competition that Germany’s vehicle export industry, particularly in the EV Market, is grappling with, have allowed China to surge ahead. The new information suggests that other countries will also sweat to defend against China, which sells EVs on the world market at low profit margins, confirming earlier assessments by experts. Pressures from soaring inflation, shrinking international orders and a worldwide decline in consumer purchasing power are thought to be starting a wave of crisis in the German economy. Sales for battery-powered vehicles in Germany have notably declined, with demand dropping to roughly 60%…

Toyota Kirloskar Motor (TKM), a pillar of the automotive industry within the Indian market, recently implemented a significant price rise for its prevalent multi-purpose vehicle (MPV), the Innova Crysta. Observing a hike of up to Rs 37,000, the cost adjustment varies depending on the variant chosen. The Innova Crysta’s reputation for dependability and resilience continues to endear it to a substantial customer base of families and commercial taxi services. The base GX model retains its price point at Rs 19.99 lakh, remaining unaffected by the change. With a Rs 35,000 surge, the mid-tier VX models now cost Rs 24.44 lakh.…

The revolution of electric vehicles, autonomous driving, and the sharing economy has caused significant changes in the automotive industry recently. The most notable of these transformations is the adoption of blockchain in the automotive industry, the decentralized ledger technology known for powering cryptocurrencies like Bitcoin. The use of blockchain can greatly improve various aspects of the automotive industry, from manufacturing to ownership and maintenance. Revamping Supply Chains with Blockchain Blockchain brings significant changes in the field of supply chain management for improvements. Manufacturing of vehicles involves a complex network of suppliers, manufacturers and distributors. Blockchain can revolutionize the effective tracking…

Vietnam’s burgeoning auto industry is facing the challenge of stepping up its participation in the global supply chain. Despite the country’s impressive growth, Vietnamese auto enterprises still grapple with integration into the global ecosystem, experts warn. Phan Dang Tuat, Chairman of the Vietnam Association of Supporting Industries (VASI), observes that the automobile sector encapsulates the quintessence of contemporary technologies, production methodologies, and managerial practices. He affirms that the wisdom gleaned from production and corporate governance within developed nations constitutes a vital element for Vietnam’s alignment with the global automotive sphere. A Journey Without Shortcuts The path towards such integration is…

As the automobile industry pivots towards sustainability, car manufacturers are exploring inventive ways to repurpose waste along with plastic recycling. Ford, Audi, and Volkswagen are now embracing the circular economy, driven by two significant needs: reducing new resource consumption for plastic production, and mitigating plastic waste accumulation from used products. A wealth of plastic within modern vehicles presents substantial opportunities for recycling. For example, the Ford Bronco Sport integrates wiring harness clips crafted from recycled plastic sourced from recovered fishing nets. Alper Kiziltas, Ford’s technical expert, suggests that as much as 700 lbs. of plastic per vehicle might be generated…

Embarking on a daring and ambitious transformation, Lancia, the illustrious Italian auto brand, presents its reinvented corporate identity to the world. This revival, fueled by the dedication of forty Italian dealerships adopting the company’s new image, heralds a vibrant era for the car manufacturer. Lancia’s CEO, Luca Napolitano, expressed enthusiasm for the swift progress, encompassing 13 Italian regions and poised for further expansion. He projected a future teeming with promise, with an estimated 50 revitalized showrooms by September, a robust 100 by the close of the year, and full network coverage by April 2024. Beyond mere aesthetic overhaul, Lancia’s renaissance…

Embracing the future of sustainable transportation, Ballard Power Systems, a preeminent force within the realm of clean energy solutions, confirmed the signing of a letter of intent (LOI) with Ford Trucks, the international brand of Ford Otosan, in an unprecedented move towards developing hydrogen fuel cell powered vehicle prototypes. This ambitious partnership assigns Ballard to supply its high-performance FCmove-XD 120 kW fuel cell engines to Ford Trucks, with the initial purchase order consisting of two units. These are projected to be delivered to Ford Trucks in 2023, marking a pivotal step in the evolution of heavy-duty transport. Operational under Ford…

Redefining global freight management standards, Continental Tires unveiled its cutting-edge tire monitoring tool for both standalone and coupled truck trailers. Dubbed ContiConnect Live, this transformative technology facilitates instantaneous remote tire monitoring, bolstering tire security, vehicle productivity, and overall fleet effectiveness worldwide. ContiConnect Live operates through a telematics unit that gathers crucial data from tire sensors, transmitting it to the ContiConnect portal. This powerful platform provides a steady stream of information about tire temperature and pressure when linked to a power source. Impressively, the unit’s rechargeable battery continues to provide daily data readings for a month, even when not connected to…

Korean auto parts and electronics firms are increasingly shifting their focus to the United States, following the trend set by global automakers such as Hyundai, Volkswagen, and Ford. These major auto brands are setting up new electric vehicle (EV) production bases primarily in North America, driving the corresponding suppliers, including secondary providers, to follow suit with increased investments and employment in the region. This trend has sparked concerns around the Korean auto industry ecosystem and deepening polarization in the parts industry. Tennessee, a U.S. state, publicized on August 1st (local time) the commitment from Hanon Systems, a global leader in…