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Category: Trends (Page 5 of 10)

The average price of a new EV in the US is dropping

EV prices have begun to fall, according to Kelly Blue Book.

While the average price of a new car rose in December, 2022 to US$49,507, the average price of electric vehicles (EV’s) fell 5.5% over the previous month, ending 2022 at US$61,448.

While that remains too high for the average American household, it is now lower than the cost of the average luxury car – which EV’s were commonly compared to – which stood at US$66,660 at the end of 2022.

As long as prices remain high, government incentives will play a large and necessary part of widespread EV adoption.

It’s time to electrify auto marketing

Thomais Zaremba, Managing Director, Automotive, Google »

Flying cars may have been a sign of the times on “The Jetsons,” but in real life, electric vehicles (EVs) are ushering us into the future. Just as gas-powered engines replaced horse-drawn carts a century ago, EVs are disrupting the industry and setting the standard for the next hundred years of auto innovation.

In short, EVs are taking over. EV sales in the U.S. rose 62% in the first half of this year, and now make up 5% of new car sales. While this may sound small, it actually marks a tipping point for EV adoption. The shift to EVs could also accelerate rapidly, as drivers are still feeling squeezed by higher gas prices. In fact, searches for “best gas mileage” are growing globally by 90% year over year. And, according to industry analysts, about 45% of new car sales could be electric by 2035.

These numbers have helped automakers see the EV light. They’re investing over $526 billion in an all-electric future, which includes building new assembly lines and parts, learning to produce and store batteries, and preparing for changing tax implications.

But is their marketing keeping pace too? As brands work to get EVs in the hands of consumers, many auto marketers are still relying on an outdated playbook. Here are three ways they can rethink stale strategies and make their EV marketing as electric as their vehicles.

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China could seize 60% share of global EV sales in 2022

Bloomberg »

Analyzing China’s EV market takes up a growing share of our time at BloombergNEF, mostly because China represents an ever-growing portion of the global EV market. China’s share of global passenger EV sales has gone from 26% in 2015, to 48% in 2021, to 56% in first half of 2022. We’re expecting a big surge in the final months of the year that could push the share north of 60%. In other segments like trucks, buses and two-wheeled vehicles, China is even further ahead.

Canoo shifts EV production from Europe to USA

EV startup Canoo Inc announced it was accelerating its production plans in the US while ending its deal for VDL Nedcar in Netherlands. (Press Release)

Ben Klayman / Reuters »

The Arkansas-based company said the shift from using VDL Nedcar overseas to relying on the plants it is building in northwest Arkansas and Pryor, Oklahoma, was made to reduce supply-chain vulnerabilities and overseas shipping costs, and increase speed to market for its vehicles.

“The initiatives announced today are another step in executing our strategy of reducing risk and increasing certainty,” Chief Executive Tony Aquila said in a statement. “We have concluded that building in America is better aligned with our mission.”

Canoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.

 

Elsewhere » Car and DriverDigiTimes »

 

Goodyear introduces tire designed for EVs

Goodyear ElectricDrive GT

Goodyear introduced the new ElectricDrive GT, the company’s first replacement tire in North America tuned for electric vehicles.

The Goodyear ElectricDrive GT is a high performance, all-season tire designed to deliver long-lasting tread wear and a quiet ride for EV drivers and passengers.

The tire is designed with an asymmetric tread pattern and specialized tread compound that Goodyear claims “provides enhanced all-season traction, giving EV drivers confident handling in both wet and dry road conditions.”

While Goodyear plans to expand the ElectricDrive product line in 2022, the initial release of the Goodyear ElectricDrive GT is available in size 255/45R19 104W XL.

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