Month: July 2023

Jul 11

2026 Ford Three-Row Electric SUV: Ford’s Vision for a Versatile Family EV

Ford’s Strategic Focus on Three-Row EVs

Ford’s emphasis on developing a three-row electric SUV for the near future reflects a strategic move towards meeting growing family-oriented demands in the EV market. This approach is inspired by the success of similar models like the Kia EV9, which demonstrates how electric vehicle platforms, with their flat batteries and axles-mounted motors, can enhance interior space and design. The innovation allows for a spacious cabin within the same exterior dimensions as traditional SUVs, making it an appealing option for families seeking both functionality and eco-friendliness.

The Advantages of Electric Vehicle Design

The design of electric vehicles, particularly those with a three-row layout, offers significant benefits in terms of interior room and comfort. By utilizing a flat battery design and positioning the motors on the axles, manufacturers can maximize space efficiency, resulting in more versatile and spacious interiors. This trend not only supports the growing preference for electric family vehicles but also positions Ford to offer competitive and practical solutions in the evolving EV market.

Jul 11

Chinese EV Startup Byton Files For Bankruptcy

Byton, the Chinese EV startup that revealed its first production-ready vehicle in 2019, has filed for bankruptcy in its home country, according to Pandaily.

Two companies, Nanjing Zhixing New Energy Vehicle Technology Development Co., Ltd., and Nanjing Zhixing Electric Vehicle Co., Ltd., both of which are related to Byton, had their bankruptcy cases filed last month, crushing hopes for the company’s sole vehicle – the M-Byte SUV – of ever reaching series production status.

The firm’s troubles began in 2019, the same year when the all-electric SUV was revealed as a finished product at the Frankfurt Motor Show in Germany.

Back then, a round of funding led by the Chinese auto group FAW failed, followed by a change in management, and a few months later Foxconn stopped its investment. Another backer, the investment arm of the Nanjing government, also pulled its funding soon after.

Furthermore, in 2021, its main business unit, Nanjing Zhixing New Energy Vehicle Technology Development, was forced in court by a creditor to begin the bankruptcy procedure.

Pre-production of the M-Byte started in October 2019 at the company’s new manufacturing facility in Nanjing, China, with the firm reportedly receiving more than 50,000 reservations for the zero-emissions vehicle. However, financial troubles and pandemic-induced shortages prompted the company to pause manufacturing shortly after, and then to restart it in April 2021.

Byton planned on becoming a global brand, with first deliveries scheduled to begin in China in the middle of 2020, followed by Europe and North America. It even received dealer and distributor licenses in California, but customer cars were never shipped.

The Byton M-Byte featured an immense, 48-inch display bolted on top of the dashboard, plus an additional screen mounted on the steering wheel base.

Rear-wheel drive and all-wheel drive options were advertised, as well as two battery variants. The standard battery was 72 kilowatt-hours (usable), which Byton claimed would offer a driving range of 250 miles, while the optional 95 kWh pack (also usable capacity) was capable of offering a 323-mile driving range.

As always, we’d like to know what you think about this, so head over to the comments section below to give us your thoughts.

Jul 11

Toyota and Stellantis Challenge White House’s Ambitious EV Sales Targets

Automakers Criticize White House’s EV Sales Strategy

Toyota and Stellantis are raising concerns over the Biden administration’s ambitious plan to boost battery-electric vehicle (BEV) sales, arguing that it imposes unrealistic expectations and places undue strain on essential mineral resources. According to their statements submitted to the federal government, the proposed emissions standards for cars and light trucks are excessively optimistic and could marginalize plug-in hybrid vehicles (PHEVs). Both automakers highlight that the plan underestimates the challenges of sourcing rare minerals for batteries, building necessary infrastructure, and managing the high costs associated with BEVs.

Industry Response and Future Outlook

The proposed regulations are set to introduce the most stringent tailpipe emission limits ever, starting with the 2027 model year, aiming for a significant increase in BEV adoption. The Environmental Protection Agency (EPA) anticipates that by 2032, BEVs will account for 67% of new light-duty vehicle sales and 46% of medium-duty vehicle sales, surpassing previous goals set by President Biden. However, critics argue that these targets are overly ambitious, suggesting that the industry may face substantial hurdles in ramping up production and meeting consumer demand for electric vehicles. Despite the controversy, some like Tesla support more stringent regulations, while others, such as Ford, advocate for a gradual transition to avoid abrupt industry shifts.

Jul 11

Toyota and Stellantis Challenge Biden’s Ambitious Electric Vehicle Sales Plan

Automakers Raise Concerns Over New EV Sales Targets

The Biden administration’s push to reduce auto emissions through increased battery-electric vehicle (BEV) sales is facing criticism from Stellantis and Toyota. Both automakers argue that the proposed targets are overly aggressive and may strain the supply of essential minerals needed for EV batteries. They also express concerns that the plan fails to account for significant obstacles such as the lack of domestic mineral resources, insufficient infrastructure, and the high cost of electric vehicles.

Industry Reaction and Future Implications

The Environmental Protection Agency (EPA) has proposed the strictest tailpipe emission limits to date, aiming for BEVs to comprise 67% of new light-duty vehicle sales and 46% of new medium-duty vehicle sales by 2032. This ambitious goal surpasses earlier targets set by President Biden, who aimed for 50% zero-emission vehicles by 2030. While Tesla supports even stricter requirements to accelerate EV adoption, Stellantis and Toyota caution that the rapid transition could pose risks to manufacturing capacity and consumer acceptance, urging for a more gradual approach.

Jul 11

First Drive: The 2023 Toyota Crown Redefines Luxury with a Bold New Look

A Fresh Take on Toyota’s Flagship

The 2023 Toyota Crown marks a significant shift for Toyota, replacing the full-size Avalon sedan with this bold new flagship model. While the Crown has been a fixture in Japan since the 1970s, its arrival in the U.S. only now reflects changing consumer preferences for larger, more fuel-efficient vehicles. After experiencing its performance firsthand, it’s clear that Toyota’s delay in introducing the Crown here aligns with the evolving tastes of American drivers who favor spacious and efficient cars.

Distinctive Design and Enhanced Comfort

At first glance, the 2023 Toyota Crown might resemble a crossover due to its elevated stance, but it maintains traditional sedan dimensions with a regular trunk. This height advantage provides drivers with a superior view of the road, enhancing the driving experience compared to the previous Avalon. Despite its higher profile, the Crown manages corners with agility and offers a comfortable ride, thanks to its adaptive suspension system with multiple driving modes including Normal, Comfort, Sport, and Sport +, which fine-tune the vehicle’s responsiveness.

Powerful Performance Options

The Toyota Crown offers two engine choices to cater to different driving needs. The base model features a 2.5-liter four-cylinder engine combined with a 40-kW electric motor, delivering a respectable 236 horsepower. However, for those seeking a more dynamic experience, the Platinum trim’s turbocharged 2.4-liter Hybrid MAX engine, paired with a 58.6-kW motor, produces an impressive 340 horsepower, making it the ideal choice for a powerful, engaging drive. Both powertrains come with all-wheel drive and utilize different transmissions, with the base model equipped with a CVT and the Hybrid MAX featuring a six-speed dual-clutch system.

Conclusion

While comparing the 2023 Toyota Crown to the Avalon reveals similarities in configuration, the Crown distinguishes itself with a more striking design, enhanced powertrain options, and a higher ride height. This new model represents Toyota’s commitment to innovation in the luxury sedan market, offering a fresh alternative to its predecessor. Stay tuned for an in-depth review as we continue to explore all the features of the 2023 Toyota Crown.

Jul 11

Is Now the Time to Buy? Midsize Pickup Truck Sales Slump in 2023

Declining Demand for Midsize Trucks

Midsize pickup trucks, offering a blend of utility and maneuverability, are experiencing a surprising dip in sales this year. The Chevrolet Colorado, Nissan Frontier, Jeep Gladiator, and Ford Ranger—four prominent models in this segment—are all seeing diminished demand. This decline is unexpected, especially given the new Frontier’s debut, which might be suffering from supply chain issues or new model teething problems.

Factors Affecting Sales

The Jeep Gladiator, once a strong contender with rising sales figures, has seen a significant drop of 30% year-over-year in 2023. Despite its earlier successes, it is projected to sell under 55,000 units this year, a stark contrast to its peak performance. Similarly, Ford and Chevrolet are hoping that their new 2024 Ranger and Colorado models will reinvigorate interest, though buyers may be waiting to test these latest offerings.

Exceptions to the Trend

Not all midsize pickups are struggling; the Toyota Tacoma and Honda Ridgeline are bucking the trend with sales increases. The Ridgeline, despite skepticism about its unibody design, has seen nearly a 40% increase in sales this year. The Tacoma remains a strong performer with a 7.5% sales boost, although the Frontier’s sales have decreased by over 20%.

Insights and Predictions

Interestingly, the Ford Ranger has faced a notable decline, falling almost 30% from the previous year’s figures. This drop contrasts with the increasing sales of the Ford F-150, which has risen by 10%. Meanwhile, smaller models like the Hyundai Santa Cruz and Ford Maverick continue to gain traction, with both showing sales growth compared to last year.

As we approach the end of the year, it will be crucial to watch how these trends develop and whether upcoming model updates or market shifts will alter the sales landscape.

Jul 11

The Rising Cost of Car Ownership: Why $1,000 Monthly Payments Are Becoming the Norm

Soaring Costs of Car Financing

As summer temperatures rise, so do the costs associated with buying and financing a new vehicle. Just five years ago, the typical monthly payment for a new car was around $525, but today, many drivers find themselves shelling out over $1,000 each month. This dramatic increase reflects the broader trend of escalating car ownership costs, making it harder for consumers to find a reliable vehicle that fits their budget.

The Factors Driving Up Payments

Recent data from Edmunds reveals that in 2019, only 4.3% of drivers were paying $1,000 or more per month for their car, but this figure has surged to 17.1% by 2023. This increase is driven by a combination of record-high average payments, which now stand at $733, and a sharp rise in financing rates, averaging 7.1%. For used cars, the average interest rate has climbed to 11.1%, resulting in average monthly payments of about $542.

Challenges in the Auto Market

The rising costs aren’t solely due to high interest rates. Dealers are adding significant mark-ups to recover losses from pandemic-related disruptions and supply chain issues. Additionally, negative equity—where trade-ins are worth less than the remaining loan balance—is exacerbating the problem, leading many buyers to roll over old loans into new ones, further inflating monthly payments.

Tips for Managing Car Payments

Before committing to a new car purchase, it’s crucial to assess your financial situation thoroughly. Ensure that you can comfortably handle a $1,000 monthly payment by reviewing your budget, checking your credit score, and exploring various financing options. If the high costs are overwhelming, consider keeping your current vehicle a bit longer or opting for a lower-priced model to keep payments manageable.

With average down payments reaching nearly $7,000 and car prices climbing, staying informed and making a prudent financial decision is more important than ever. If you’re prepared and financially ready, enjoy the car shopping experience and choose wisely to avoid financial strain.

Jul 11

Massive Drop in Used Electric Car Prices: Exceptional Deals to Consider

Recent Trends in Used Electric Car Pricing

Earlier this year, drivers enjoyed high trade-in values through platforms like Carvana and Vroom. However, the landscape has shifted dramatically, with used electric car prices and trade-in values now significantly dropping. Factors contributing to this decline include Tesla’s substantial price reductions, increased vehicle production, and rising interest rates.

Why Used Electric Car Prices Are Falling

The recent drop in used car prices marks the end of the previously inflated market. Buyers now have the opportunity to purchase electric vehicles at more attractive prices. Notable examples of this trend include the Volkswagen ID.4, Polestar 2, Audi e-tron, Tesla Model Y, and Mercedes EQS.

For instance, the 2021 Volkswagen ID.4, a practical family crossover, now starts at around $29,000, offering up to 260 miles of range. The 2021 Polestar 2, priced in the low $30,000s, features a range of 233 miles and impressive performance capabilities. Meanwhile, the 2019 Audi e-tron, starting at about $35,000, presents a luxury experience with features like massaging seats and air suspension at a significantly lower cost compared to new models.

Additionally, the Tesla Model Y Performance remains a top choice for electric enthusiasts, boasting a 0-60 mph time of around 3.5 seconds and an EPA-rated range of 303 miles. The Mercedes EQS, once a six-figure vehicle, now offers substantial savings with used models priced in the mid-$60,000 range, while still providing a long range of 350 miles.

Finding the Best Deals

With the significant drop in prices, this is an ideal time for buyers to explore the electric car market. Whether you’re seeking luxury or performance, the current market offers exceptional value on used electric vehicles. Conduct thorough research to find the best deals and make an informed decision to maximize your investment in a reliable and eco-friendly car.

Jul 11

Paris to Implement Higher Parking Fees for SUVs to Combat Urban Pollution

New Parking Fee Structure to Address Vehicle Size and Weight

In a bid to curb pollution, Paris is set to increase parking fees for SUV owners starting January 1, 2024. Although specific fee details have yet to be disclosed, the charges will be based on vehicle size, weight, and engine type. This measure aims to address the rising number of SUVs, which have grown by 60% in the past four years and now represent 15% of all parked vehicles in the city.

Intent and Reactions to the Fee Increases

The Paris city council, having unanimously approved this initiative, seeks to address what is being termed “auto-besity” — the growing trend of larger, heavier vehicles dominating urban streets. Frédéric Badina-Serpette of the EELV ecology party emphasizes that this progressive pricing model will help reduce the prevalence of oversized vehicles. Electric cars and those used by large families are expected to be exempt from these increased fees.

David Belliard, a deputy mayor focused on public space and mobility, criticizes SUVs as ill-suited for city environments due to their size and resource consumption. Conversely, Pierre Chasseray from the driver defense group 40 millions d’Automobilistes argues that larger vehicles are often necessary for families and that this policy unfairly targets a small portion of the population. Similar initiatives are emerging in other French cities, such as Lyon and Grenoble, indicating a broader trend towards regulating vehicle sizes in urban areas.

Jul 11

Mazda MX-5 Miata Sales Surge in 2023: Here’s Why

The Miata’s Unstoppable Sales Momentum

The Mazda MX-5 Miata, a sports car with a devoted following, is experiencing an extraordinary boost in sales this year. Despite economic challenges that typically dampen sports car sales, the Miata’s popularity has soared in 2023, with sales nearly doubling compared to 2022. Mazda reports 5,513 units sold this year, a striking increase from last year’s 2,800 units, showcasing the MX-5’s remarkable resurgence.

Impressive Sales Growth and Market Appeal

The sales surge is even more pronounced when considering recent monthly data. In June alone, Mazda dealers sold 866 MX-5s, a dramatic 556% increase from May’s 132 units. This spike far outpaces competitors like the Subaru BRZ, which saw a 97% rise but only sold 382 units, highlighting the Miata’s exceptional appeal in the sports car market.

What’s Driving the Miata’s Popularity?

The 2023 Mazda Miata continues to captivate enthusiasts with its timeless formula, refined over years of production. Its 2.0-liter engine delivers 181 horsepower, coupled with a six-speed manual transmission, ensuring a dynamic driving experience. Although modern competitors like the Nissan Z and BMW 2 Series offer more luxury, the Miata’s combination of simplicity and performance, along with its value retention—showing just a 10% depreciation in the first three years—makes it a standout choice.

The Miata’s appeal may also be tied to a growing desire among drivers for more analog, engaging driving experiences, which are rare in today’s market. For under $30,000, the Miata provides an unmatched blend of driving joy and affordability, contributing to its impressive sales figures.