Author: Central Desk

Mercedes-Benz has announced its decision to compete with Tesla by offering its electric vehicles (EVs) at a more affordable price range. This move comes in response to Tesla CEO Elon Musk’s earlier declaration of a price war in the electric vehicle market. Mercedes-Benz is determined to increase its market share in the EV sector by attracting a larger consumer base through competitive pricing. As part of this strategy, the German automaker plans to expand its EV lineup and offer various models to suit the needs of different customer segments. Additionally, the company aims to optimize production costs and achieve economies…

The automotive industry has been a driving force of innovation and economic growth since the late 19th century. With a global reach that includes designing, manufacturing, and selling motor vehicles, the industry continues to evolve in response to consumer demands, technological advancements, and environmental concerns. In this article, we’ll explore the most relevant statistics and trends shaping the automotive industry today. Global Production and Distribution According to the International Organization of Motor Vehicle Manufacturers (OICA), more than 90 million vehicles were produced worldwide in 2020. The industry has traditionally been dominated by the United States, Germany, and Japan, but there…

Toyota Motor Corporation, the world’s largest automaker, is ramping up efforts to meet the expectations of the rapidly growing Chinese automotive market, according to CEO Akio Toyoda. Speaking at a recent event, Toyoda emphasized the need for the company to make faster progress and increase its commitment to the Chinese market, which has become a crucial battleground for global automakers. China is currently the world’s largest automotive market, and industry analysts predict continued growth in the coming years. This growth is driven by increasing demand for electric vehicles (EVs) and the Chinese government’s push for greener transportation solutions. To remain…

The Indian automotive industry is poised for substantial growth in the fiscal year 2024, driven by the increasing adoption of electric vehicles, advancements in autonomous driving technology, and the surge in shared mobility services. This expansion reflects a positive shift in consumer preferences, government policies, and industry innovations. Electric Vehicles Leading the Charge A rapid rise in electric vehicle (EV) adoption is a key factor contributing to the automotive industry’s growth. Increasing awareness about climate change, coupled with government incentives and infrastructure support, has made EVs more attractive to consumers. As battery technology continues to improve and charging infrastructure expands,…

As a global leader in hybrid vehicle technology, Japan has been slow to adopt electric vehicles (EVs). The Japanese automobile market has long been dominated by hybrid cars, with manufacturers like Toyota and Honda leading the way. The increasing popularity of EVs worldwide has prompted Japan to gradually shift its focus towards the development and production of these vehicles. Japan’s lag in EV adoption can be attributed to the strong preference for hybrid cars among its consumers. Hybrids provide the convenience of extended driving range and easy refueling, making them a more practical choice for many. This preference has resulted…

The Indian automotive industry is undergoing significant changes, with several key trends shaping its future, according to a report by evo India. The report highlights five trends as the most significant, including the growing adoption of electric vehicles (EVs), increased technology integration, rising localization, a focus on after-sales services, and growing demand for premium vehicles. The Indian government has set a target of having 30% of all vehicles on the road to be electric by 2030, and has been providing incentives for the adoption of EVs. Automakers are also increasingly integrating new technologies, such as advanced driver assistance systems (ADAS)…

Tesla has announced price cuts for its electric vehicles (EVs) in China, in an effort to boost sales and compete with local brands in the world’s largest EV market. According to the company, the price cuts will apply to all Tesla models currently available in China, including the Model 3 and Model Y. The move comes amid growing competition in the Chinese EV market, as local automakers look to take advantage of the country’s growing demand for sustainable transportation. Tesla has faced increased competition from local brands such as NIO, Xpeng, and Li Auto, which have been offering more affordable…

Peugeot is reportedly set to bring its electric vehicle (EV) production to Spain, with the new Peugeot 208 EV expected to be manufactured in the country. This move is in line with the automaker’s plans to electrify its lineup and reduce its carbon footprint. According to reports, the new Peugeot 208 EV will be built at the company’s factory in Vigo, Spain, and will be sold in both European and international markets. The new model is expected to feature a range of electric powertrain options and advanced technologies, aimed at appealing to environmentally conscious consumers. Peugeot is not alone in…

The car wash industry has been experiencing steady growth in recent years due to a rise in demand for professional car washing services. This growth presents investors in 2023 with two options: building a new car wash or purchasing an existing one. Both choices have their own benefits and risks that investors must weigh before making a decision. Building a new car wash provides the advantage of creating a customized facility that meets specific needs and preferences, including selecting the location, design, and equipment of the car wash. Furthermore, it allows investors to utilize the latest technologies and innovations available…

A new study has found that car dealerships’ markups on auto loans contributed to inflation in the US. The study, conducted by researchers at the Center for Economic and Policy Research, found that car dealerships charged an average markup of 1.8% on auto loans, resulting in an average overcharge of $1,818 per loan. The markups on auto loans have been a long-standing practice in the industry, with dealerships typically receiving a commission from lenders for negotiating the loans. However, the study found that the markups were not always disclosed to customers, leading to an unfair and opaque pricing structure. The…