Nationwide Vehicle Contracts’ Post

General Motors says 20,000 Chevrolet Blazer EV and Cadillac Lyriqs are not eligible for the full $7,500 federal tax credit because they were produced before supply revisions that meet government requirements. In light of this, we analyzed our days supply and turn rate data for these EV SUVs to assess current demand. #dealertrades

If you're wondering why some automakers are putting off plans for electric vehicle factories, think about the US election. - If Trump wins, they'll put progress on pause... just like they did during his first term.  - If Biden wins, they'll have to keep working on electric vehicles. Despite the spin by some of them, their slowdown in the transition to less polluting vehicles has less to do with the market or technology than with American politics.

Interesting interview with Shawn Fain about the organizing campaign at Volkswagen. Based on Volkswagen’s neutral perspective I was sure the union would have won the last two attempts. This one is going to be interesting to watch. It’s in the hands of the team members. Be careful what you wish for because you just might get it. https:// https://lnkd.in/eimDttW4

The dramatic nature of the developments at #Volkswagen cannot be categorised drastically enough...🧙♂️ 'Head of the Works Council Daniela Cavallo explained: "Of course, we on the Works Council are also aware of the current situation. It is serious in the entire industry. We have serious problems." There is no difference when it comes to analysing the problems. "But miles apart when it comes to responding to the problems." Specifically, Cavallo criticises the fact that the Group does not have an affordable electric car in its range. The ID.2 and ID.1 entry-level models planned from 2026 would come too late. In addition, there is still too much duplication of work between the Group brands. Major savings are possible here' The fact that the Works Council & Mrs Cavallo were also on the Supervisory Board when the vehicle range was decided ... no problem. And the reference to 'duplication of work' means having to go to resources/locations & personnel in order to reduce them ... or is there a state subsidy for VW-cars in the room, which would not become cheaper cars but would merely support the existence of the VW Group with taxpayers' money? https://lnkd.in/dPAr5PMj 🔥

Ford Motor Company's Bob Holycross on incentives of the IRA, “The whole intention and what those policies are driving in terms of investment here in the U.S. is the right thing to do. It's going to take not just the current incentives in the IRA … But a broader, holistic set of policies." Watch more: https://ow.ly/LgAJ50RHr0p

Interesting: Jim Farley, CEO of Ford, views China's electric vehicle (EV) makers as an "existential threat" after witnessing their rapid advancements during a recent trip. Chinese automakers are leveraging technology and low-cost supplies to dominate the EV market, significantly impacting foreign competitors. Despite the Federal Reserve's potential interest rate cuts, Farley is altering Ford's strategy to focus on commercial vehicles in China and adapting their EV offerings to remain competitive. With over $2.5 trillion in corporate loans due for refinancing, rising costs loom for many companies. Farley aims to improve Ford's EV technology while reducing production costs to counter the competitive edge of Chinese brands.

Automotive News chimes in on our latest Market Outlook Report (MOR), a midyear update produced in collaboration with Kaiser Associates. From the article: 💡EVs are holding strong, but U.S. elections may rock the boat. Rivian shines as one of the emerging winners in the EV sector, in part due to its deal with Volkswagen to enhance software development. 💡EVs and hybrids are expected to increase vehicle share by roughly two percentage points in 2024 vs. 2023, driven mainly by hybrids. Ultimately, as our CEO, Dave Cantin, shared, "The industry is still doing well, but the easy money is long gone. Dealers must adapt to selling battery-electric and hybrid-electric vehicles, rising inventories, persistently high interest rates, and new challenges like cybersecurity." Thank you, Katie Merx and Georgia Hall, for helping us share the stories that matter to the industry. #davecantingroup #automotive #electricvehicles

Read more: https://lnkd.in/gnEkBtrM Donald Trump, preparing to take office in January 2025, has declared his intent to repeal the U.S. federal tax credit for electric vehicles (EVs), a program offering buyers up to $7,500 per vehicle. Introduced during Joe Biden’s presidency, the subsidy is available for EVs made in North America and priced below $55,000 for passenger cars or $80,000 for pickups and SUVs. Currently, just 16 EV models meet the criteria for the full credit.

Adjusting to a new market of Electric Vehicles

With respect, I’d like to ask my conservative leaning colleagues to push your political leadership in the correct direction here. Clearly Trump is not on board with electrification of transportation yet. There are fundamental business issues here that really do not need to be political. Our elected officials should reflect “the will of the people,” and if our “well seasoned” representatives don’t understand where business and technology are heading, they need to listen to experts. China is not slowing down on electric vehicles and neither should we. #electricvehicles