Author: Central Desk

A new study from Aston University sheds light on the precarious position of the UK auto industry amidst the electric vehicle (EV) revolution. Professors Jun Du and Oleksandr Shepotylo articulate that the UK lags in seizing EV market opportunities. This situation, as their research suggests, is exacerbated by the country’s heavy reliance on imported batteries, now outnumbering exports by a factor of 10.5. The UK’s situation contrasts starkly with Germany’s prowess in EV export value and China’s dominance in export volume. Brexit compounds these challenges, especially in negotiating non-tariff measures and rules of origin impacting EV exports. The study pinpoints…

German auto sector, long celebrated for its engineering excellence, confronts a transformative era. The swift move toward electric vehicles (EVs) necessitates profound changes, primarily manifesting in extensive job cuts. This development signals a significant shift, stirring both economic concerns and political dialogue. ZF Friedrichshafen, a pivotal player in Germany’s automotive industry and the nation’s second-largest auto supplier, faces a challenging scenario. The Financial Times reported the company’s potential job reduction plan, which could see as many as 12,000 employees laid off by 2030. Currently employing a global workforce of 165,000, this news has already led to visible unrest, with about…

Hyundai Motor Company and Kia Corporation break new ground with their latest innovation, the ‘Active Air Skirt’ (AAS) technology. This state-of-the-art system revolutionizes electric vehicle (EV) dynamics by significantly reducing aerodynamic resistance at high speeds, thereby boosting range and enhancing stability. At the core of AAS technology is a sophisticated airflow control mechanism situated at the vehicle’s lower bumper area. This design is pivotal in diminishing turbulence around the wheels, becoming increasingly effective as the vehicle accelerates. Such innovation is crucial in the EV sector, where achieving optimal range from a single charge is a paramount challenge. Strategically positioned between…

Responding to an alarming escalation in vehicular thefts, Public Safety Minister Dominic LeBlanc announces a trailblazing national summit. Set for February 8th, this pivotal conference in Ottawa unites a spectrum of key players – from political figures to law enforcement, border security, and automotive executives. The major goal is to craft a cohesive strategy to address the surge in auto theft plaguing Canada’s major cities. This gathering is set against a backdrop of disturbing statistics. 2022 witnessed a 50% jump in vehicle thefts in Quebec, with similar trends in Ontario and Atlantic Canada. Toronto alone reported an unprecedented 9,600 stolen…

A seismic shift characterizes the automotive sector with a downturn in used car prices, a stark contrast to the 2021 escalation. Delving into a comprehensive study by CoPilot, this article scrutinizes dealership data across the United States, spotlighting 15 car manufacturers facing substantial depreciation in used car values post the early 2022 zenith. 2021 witnessed an extraordinary escalation in used car prices, attributable significantly to the global chip shortage that disrupted new car production. Consequently, demand for used vehicles surged, leading to inflated prices. Yet, as market dynamics dictate, this inflationary trend reversed. UBS projections suggest 2023 will see global…

China’s BYD, the reigning global electric vehicle (EV) champion, has strategically unveiled a trio of innovative battery electric vehicles (BEVs) in Indonesia. This bold venture, marking BYD’s commitment to dominate Southeast Asia’s EV market, aligns with its recent ascension as the foremost EV producer, surpassing Tesla in the fourth quarter. Dominating sales with 526,000 units, predominantly in the Chinese market, BYD’s 2023 sales soared to an impressive 3.02 million electric vehicles, encompassing battery EVs and plug-in hybrids. Eagle Zhao, BYD’s Indonesian president, articulated the corporation’s ambition to mirror its global supremacy within Indonesia’s burgeoning EV sector. Zhao’s statement at a…

Escalating tensions within the Red Sea realm have catalyzed a substantial supply hurdle, rivaling the challenges spawned by the pandemic. Yemen’s Houthi militia’s aggressive stance on maritime commerce during this Red Sea Crisis has compelled key shipping entities to bypass the Suez Canal, a critical conduit for approximately 12% of global trade. This rerouting towards Africa’s southern extremity has elongated transit durations by around 10 days, instigating delays in goods delivery alongside a surge in container costs, attributed to heightened fuel consumption. The automotive sector, already grappling with pandemic-induced strains, confronts fresh tribulations. Spanish enterprises such as Michelin confront production…

Ford Motor Company releases a strategic shift in its manufacturing agenda, reducing the output of the electric F-150 Lightning while expanding production of the Bronco SUV and Ranger pickup. Announced last Friday, this move reflects Ford’s nimble adaptation to changing consumer preferences and the evolving electric vehicle (EV) market. This adjustment in production signifies a pivotal change for Ford, scaling back on the previously expanded manufacturing capacity of the F-150 Lightning in 2023. Starting April 1, the Rouge Electric Vehicle Center in Michigan will downsize to a single production shift for the Lightning, affecting about 1,400 employees. Despite this scaling…

Daimler Truck Financial Services has joined forces with Raiffeisen Leasing in Romania, signaling a new era in European financial service offerings. This collaboration stands as a testament to the company’s vision for the European heavy truck sector, showcasing Romania as a burgeoning hub in this industry. Bernd Barth, leader of Daimler Truck Financial Services in Europe and South America, articulated the significance of this venture: “With Romania, we are now active in nine major European countries offering our truck and bus customers integrated financial services.” This partnership debuts with a novel, all-encompassing four-year financing package for the Mercedes-Benz Actros L,…

Hyundai Motor India has completed the acquisition of General Motors’ Talegaon plant in Maharashtra. This acquisition represents a strategic step by the South Korean auto giant to bolster its production capacity and reinforce its position in the competitive global automotive industry. The Talegaon plant, which has an annual production capacity of 130,000 units and can produce 160,000 engines each year, is set to become a pivotal part of Hyundai’s ambitious goal to reach a 1,000,000 units annual production milestone by 2025. This move complements Hyundai’s existing Chennai plant, which currently has an annual production capacity of 820,000 units. This acquisition,…