Author: Central Desk

Germany experienced a sharp 23% decrease in new car registrations this past December, with only 241,883 vehicles hitting the roads, following the cut in EV incentives. Industry experts link this downturn directly to the government’s premature halt of the environmental bonus for electric vehicle (EV) purchases. This decline marks the steepest drop in 2023, overshadowing an otherwise positive year for the German automotive industry. Despite this setback, data from the Kraftfahrt-Bundesamt (KBA) shows an overall annual increase of 7.3% in car registrations compared to 2022, totaling 2.84 million vehicles. Impact of Incentive Cessation The German government’s decision on December 17…

The United Kingdom’s aspiration to secure a substantial portion of India’s burgeoning auto sector surfaces as a key objective in the Free Trade Agreement (FTA) discussions, Commerce Secretary Sunil Barthwal disclosed on Friday. This ambition mirrors a broader trend among nations negotiating FTAs with India, all aiming to tap into the prosperous market of India’s auto industry Barthwal notes India’s rise as a pivotal force in the entire automotive value chain, extending beyond vehicle assembly. The nation’s auto industry has witnessed comprehensive development, spanning auto-grade steel production, component manufacturing, tyre creation, and exports. Transitioning from traditional internal combustion engines (ICE)…

Tesla, the American electric vehicle powerhouse, faces a significant hurdle with the recall of over 1.6 million cars across China. This Tesla recall, as per China’s market regulator, marks a pivotal moment for the firm, coinciding with its slip from the top spot in EV sales, now claimed by China’s BYD. The Core Issue: Software Malfunctions Prompting this massive recall are defects discovered in assisted driving functions and door-locking systems. Tesla’s strategy to rectify these glitches involves remote over-the-air (OTA) updates. The State Administration for Market Regulation (SAMR) declared, “Starting from now, a total of 1,610,105 imported Model S, Model…

Bumper, a trailblazer in FinTech for auto payments, recently sealed a monumental $48 million Series B funding round. This surge in funding propels Bumper’s total investment to a striking $64 million, signifying a major leap in its expansion journey. Transforming Auto Repair Payments Central to Bumper’s vision is a groundbreaking approach to handling car repair payments. The company’s innovative solution lets car owners split repair bills into interest-free installments. This not only eases the financial load for car owners but also arms dealerships and garages with cutting-edge digital payment options, boosting their business growth and profitability. Strategic Growth and Tech…

The Israeli EV market in 2023 witnessed a remarkable expansion. Data from the Israel Automobile Importers Association disclosed a sale of 4,738 new cars in December 2023, contributing to a yearly figure of 270,023 units – a slight 0.7% uptick from the previous year. This period, characterized by a military conflict, undoubtedly influenced car sales. Electric vehicles (EVs) emerged as a dominant force, comprising 17.9% of all new car sales in Israel. A total of 48,219 EVs were sold in 2023, a significant leap of 75% compared to 27,671 units in 2022. Chinese automakers BYD and Geely outshone competitors, securing…

The automotive landscape faces a looming upheaval with former President Donald Trump’s advisers unveiling plans to significantly modify the United States’ pivotal green legislation, the Inflation Reduction Act (IRA). This development has prompted leading car manufacturers like Nissan and General Motors (GM) to voice apprehensions regarding the prospective growth trajectory of electric vehicle (EV) sales in the US. Background on the IRA: Designed to bolster EV manufacturing domestically, the IRA extends consumer incentives for purchasing battery vehicles featuring parts sourced from the US or its trade allies. This legislation, aimed partly at reducing dependence on Chinese technology, has already catalyzed…

Hyundai Motor Company and Kia Corporation are commencing a remarkable revamp of their research and development (R&D) operations. This deliberate move responds to the dynamic shifts within the global vehicle market, particularly the surge in smart electric vehicles (EVs). The restructuring reflects a departure from traditional R&D practices, pivoting towards the demands of the evolving ‘mobility’ market. Hyundai and Kia plan to merge their electronics and software R&D departments. This merger is aimed at sharpening their focus on the intersection of software and hardware in modern vehicles. Hyundai Motor Group (HMG) intends to launch a new R&D unit dedicated to…

A seismic shift occurs in the electric vehicle (EV) domain as China’s BYD eclipses Elon Musk’s Tesla, seizing the crown as the premier electric car seller globally. This development marks a pivotal chapter in the EV narrative. BYD, an acronym for Build Your Dreams, backed by US investment titan Warren Buffett since 2008, disclosed production figures of 3.02 million new energy vehicles for 2023, outperforming Tesla’s 1.84 million. This tally includes 1.6 million solely battery-powered cars and 1.4 million hybrids, positioning Tesla as the frontrunner in the pure electric battery-only segment despite BYD’s aggregate lead. The closing quarter of 2023…

At CES 2024, LG, the Korean electronics powerhouse, revealed an innovative in-cabin display tailored for the burgeoning software-defined vehicle (SDV) sector. This pivotal announcement signals LG’s foray into a new realm of vehicle technology, merging automotive engineering with sophisticated digital interfaces. LG’s concept transforms vehicles into ‘smartphones-on-wheels,’ led by the rapid ‘screenification’ of onboard user experiences. A spectrum of display screens addresses the individual needs of occupants, enhancing the drive with diverse functionalities. These screens are pivotal for both information and entertainment during transit and provide a comprehensive range of infotainment services when stationary. Designed to integrate with future autonomous…

The famed German auto sector, a powerhouse in global car manufacturing, confronts a critical period in 2024. With the gradual shift from fossil fuels, German car makers grapple with the challenge of adapting to the burgeoning e-mobility sector. Contrasting Visions Marketing narratives often depict an idyllic future of transportation: silent, clean electric vehicles navigating through pristine environments and serene cities. Contrarily, the reality in Germany starkly differs, characterized by persistent traffic congestion, noise, and exhaust fumes. Progress and Hesitation The German Federal Motor Transport Authority’s data reveals a modest rise in electric vehicle (EV) adoption. A decade ago, EVs represented…