Archive for the ‘Sales’ Category

VW Subsidiary Buying Tesla Powerpacks for Charging Stations

Purchase comes just after Musk says powerpack biz will be strong.

by on Feb.04, 2019

As Volkswagen brings more EVs to U.S. consumers, they're going to need places to charge.

Tesla CEO Elon Musk said recently that he expected the company’s power storage operations to grow twice as fast as the automotive business for some time going forward … and now Volkswagen’s helping to prove him right.

Volkswagen AG’s subsidiary, Electrify America, plans to install Tesla battery storage, better known as Powerpack systems, at more than 100 charging stations across the United States to help keep costs down for drivers who may have to charge their electric vehicles during peak load times.

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Electricity users can incur high-demand charges from many U.S. utilities when they draw a lot of energy from the grid in a short time, which can happen charging an electric vehicle or a number of them at once at a single station. (more…)

Auto Sales Stabilize in January’s Polar Weather

Cold weather offset by strong incentives.

by on Feb.01, 2019

FCA's Reid Bigland said the automaker had a good "cadence" to sales in January, despite the frigid weather.

This story has been updated with new information.

Despite the government shutdown that neutralized sales in the U.S. Capitol and polar weather in the Midwest, Fiat Chrysler Automobiles N.V. and American Honda reported sales increases for the month of January, while Toyota and Nissan reported that sales dropped.

FCA said its January U.S. sales rose 2% to 136,082 vehicles compared with sales of 132,803 vehicles in January 2018. General Motors and Ford, FCA’s Detroit-based rivals, no longer report monthly sales totals, but on a quarterly basis.

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“In spite of some frigid January weather, we remain bullish on 2019 given the continued underlying strength of the U.S. economy,” said U.S. Head of Sales Reid Bigland. “We expect a good cadence of new product throughout the year led by our Ram heavy-duty pickup trucks and Jeep Gladiator midsize trucks in the first half of this year.” (more…)

BMW Reveals New 7-Series Plug-In Hybrid

Three versions worldwide, including U.S.-bound 745e xDrive.

by on Feb.01, 2019

The second-generation BMW 7-Series plug-in opts for a bigger engine and bigger battery.

BMW continues its push to electrify its line-up with the official launch of the new 745e model. Three different versions of the plug-in hybrid will be offered worldwide, including the 745e, the 745Le and the 745e xDrive, the latter being the only variant planned for the U.S. market.

The new model marks the second-generation 7-Series plug-in but gets a complete makeover under the hood, abandoning the previous model’s 2.0-liter inline-four gas engine in favor of a 3.0-liter inline-six. Paired with a single electric motor, the package is claimed to delivered both improved performance and longer range when operating in EV mode.

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Part of the credit for those improvements comes from the increase in the size of the 745e sedan’s lithium-ion battery pack from 9.2 to 12.0 kilowatt-hours.

(more…)

Tesla Selling Model 3 in China; Changes Names on Model S,X

Chinese buyers can get lower-priced model not available in U.S.

by on Feb.01, 2019

Tesla made a less expensive version of the Model 3 available for sale to the Chinese market.

Just days after reporting a small profit for the fourth quarter of 2018, Tesla opened up sales of a lower-priced Model 3 to buyers in China while changing the variant names for the Model S and Model X.

The EV maker is offering the long range, rear-wheel-drive Model 3 variant starting at 433,000 yuan, or about $64,000, according to Reuters. By comparison, the medium-range RWD Model 3 in the United States starts at $35,950. Tesla doesn’t currently sell the rear-drive, long-range version in the U.S. right now.

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The 433,000 yuan represents a significant price cut from what they were originally selling for in China: 499,000 yuan. It’s not clear where those vehicles will be produced in the Fremont, California plant or in the Shanghai Gigafactory, which is currently under construction but expected to be complete before the end of the year. (more…)

Ford Prepped to Increase Production at Ranger Plant

Galhotra says plant ready for extra overtime shifts.

by on Jan.31, 2019

Kumar Galhotra, president of Ford North America, says Michigan Assembly Plant, where the Ranger is built, will add overtime shifts to keep up with demand if needed.

Ford Motor Co. may have a runaway hit on its hands in the new midsize Ford Ranger pickup truck.

The automaker is already making plans to add overtime shifts at the company’s assembly plant in Wayne, Michigan, where the Ranger is built, to account for the demand.

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Kumar Galhotra, president of Ford’s North American division, said Ford expects January sales of the January to top 1,200 units and has collected 300,000 Ranger “hand raisers,” industry slang for consumers who have expressed an interest in taking a serious look at a vehicle, according to Automotive News.  (more…)

With More Product Coming, Tesla CEO Musk Promises Good Earnings Even In a Global Recession

Musk outlines plans for Tesla Model Y, Semi and Pickup in hour-long earnings call.

by on Jan.31, 2019

Tesla's Elon Musk spent much of his time on a call with analysts and media painting a rosy picture for 2019.

Tesla’s weak fourth-quarter earnings failed to impress industry analysts and investors, despite an optimistic, hour-long presentation by CEO Elon Musk who promised that the battery-electric automaker is ready to deliver solid profits “even if there’s a global recession.”

Speaking to reports and analysts, Musk presented an upbeat vision that anticipates a huge surge in both production and demand for the Model 3 sedan, while noting that two other products, the Model Y SUV and battery-powered Semi will go into production in 2020. The 47-year-old entrepreneur fended off concerns that Tesla won’t be able to cover an upcoming bond payment of more than $900 million without seeking new equity.

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“2019 is going to be an amazing year for Tesla,” Musk said, later adding that he is “optimistic about being profitable in Q1. Not by a lot, but I’m optimistic about being profitable in Q1 and for all quarters going forward.” (more…)

Tesla Misses With Q4 Earnings, Raising New Concerns

Automaker plans to ramp up Model 3 output in bid for bigger earnings.

by on Jan.30, 2019

Tesla's Elon Musk said the company faced significant headwinds in the previous quarter and will continue to do so.

Tesla delivered its second consecutive quarterly profit on Wednesday, but hit by various headwinds, including weak sales in China, the world’s largest battery-car market, the numbers fell well below the Wall Street consensus forecast, triggering a pushback from nervous investors.

The automaker said it would push to boost production of its mainstream Model 3 battery-electric vehicle in the months ahead, but whether that can kick-start momentum remains uncertain, Tesla CEO Elon Musk earlier this week warning that the automaker faces a “very difficult” road ahead, something potentially complicated by a nearly $1 billion bond payment due near the end of the first quarter.

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Referring to 2018 as “the most pivotal year in Tesla’s history,” the automaker tried to put a positive spin on its Q1 results, noting that sales came in stronger than expected with strong revenues. But the initial response was far from upbeat, despite Tesla shares regaining some of the losses of recent weeks during the regular Wednesday trading session. (more…)

Ginetta Prepping New Entry into Supercar Segment

Motorsport leader looks to return to the road.

by on Jan.30, 2019

Ginetta plans to return to the supercar realm with a new 600- horsepower model that will ready for road and track.

There will soon be a new sort of rumbling coming from northern England as race car maker Ginetta announced it plans to produce a street-legal, track-ready supercar, releasing two teaser photos to give some insight into what’s coming.

Laden with carbon fiber, the not-yet-named supercar will feature a racing-inspired naturally aspirated V8 alloy engine putting out more than 600 horsepower, officials claim, adding that it will be manufactured at its 75,000-square-foot facility in Leeds.

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“We’ve come a long way in 60 years but we still believe Ginetta has great untapped potential,” said Chairman Lawrence Tomlinson, a former Le Mans winner, who bought the company in 2005. (more…)

VW Grabs Global Sales Crown – Barely

Renault-Nissan-Mitsubishi Alliance dominates light vehicle segment.

by on Jan.30, 2019

All hail the king! Volkswagen claimed the global sales crown for 2018, but just barely over Renault-Nissan-Mitsubishi.

For the fifth year in a row, Volkswagen Group can again claim king-of-the-hill status as the world’s top-selling automaker.

But there’s an asterisk on the sales charts. For the second year running, the Renault-Nissan-Mitsubishi Alliance narrowly nudged by its German rival to claim leadership in the light-duty vehicle market. Toyota again had to settle into third place, while General Motors slipped into a distant fourth.

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Volkswagen was able to gain the crown by factoring in its strong light truck sales which helped it reach sales of 10.83 million vehicles in 2018, a 0.9% year-over-year jump. Excluding heavy trucks sold by its MAN and Scania subsidiaries, VW sold 10.6 million vehicles. (more…)

Mitsubishi to Debut Engelberg Tourer Concept in Geneva

Automakers says show car hints at “next-generation technology and enhanced EV performance.”

by on Jan.29, 2019

Mitsubishi's awkwardly named plug-in, the Engelberg Tourer Concept debuts in March.

Okay, perhaps the odd name resonates in the cantons of Switzerland but there’s no question, you’re likely to get some strange looks when you tell somebody about the Mitsubishi Engelberg Tourer Concept set to debut at the Geneva Motor Show in a little more than a month.

It’s the latest in a series of show cars rolling out from the long-struggling Japanese automaker, most – if not all – putting the emphasis on plug-based drivetrain technologies. For its part, Mitsubishi seems determined to keep us waiting for most of the details but does offer some hints about the latest prototype which, it turns out, is named after a popular Swiss ski resort that has some links to European motor sports.

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The Engelberg Tourer, the company suggests, will “bring further developments in SUV styling and practicality, along with a focus on next-generation technology and enhanced EV performance.” (more…)