Strategy & Innovation Newsletter | Edition 4 | 2024
EV-Maker Polestar Is Making a Smartphone as a Companion to Its Cars
Electric-vehicle maker Polestar has a new product, and it isn't another car. This time, it's a smartphone. The Swedish automaker said Tuesday that it plans to release a phone in China that's designed around the "FlyMe Auto" Android-based software from partner and corporate cousin Xingji Meizu Group, a phone-maker.
Nissan unveils four new electric-car concepts
Nissan has pulled the covers off four new concept vehicles at the 2024 Beijing motor show after ramping up its plans for new electric and hybrid vehicles in China, the largest new-car market in the world.
Nissan presented two electric vehicles and a pair of plug-in hybrids – collectively referred to by the industry in China as ‘New Energy Vehicles’ – and said it will introduce an additional electric car in China, one more than previously announced, by 2026.
Tesla profits slump by more than a half
Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023.
It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced thousands of job cuts.
Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward.
‘Dacia Zen’ seven-year warranty brings added peace of mind
Dacia has launched a new complimentary warranty scheme called ‘Dacia Zen’ – offering up to seven years of comprehensive cover. The warranty is added with every service, and it doesn’t only apply to new Dacia models; owners of cars up to six years old (or 75,000 miles) are also eligible.
Dacia owners that have had their car serviced and maintained outside of the official Dacia network can be included, as long as their car fits the maker’s maintenance recommendations, and all servicing has been documented.
Honda unwraps new Ye series of EVs, including sleek GT
Honda has launched a new series of electric cars developed specifically for China at the Beijing motor show.
Another three EVs will join the new crossovers and sleek saloon later to complete the Ye Series, and all six will enter the Chinese market by 2027.
Ye models will all wear a new flattened version of the traditional Honda 'H' badge, rendered in white, and its operations will be operated by the brand's joint venture partners, Dongfeng Honda and GAC Honda.
Volkswagen cuts price of EV and combustion engine cars to boost deliveries to China
Volkswagen reported unexpectedly strong growth in its deliveries of electric and combustion engine cars in China in the first quarter helped by price cuts, while deliveries of EVs in Europe fell sharply as demand dwindled.
Europe’s largest carmaker said China deliveries increased almost 8 per cent to 694,000 units in the first three months of the year compared with 2023, with battery-run vehicle deliveries increasing year on year by 91 per cent from a low base.
Ford to delay rollout of new electric pickup and SUV as EV sales slow
With US electric vehicle sales starting to slow, Ford Motor Co says it will delay rolling out new electric pickup trucks and a new large electric SUV as it adds gas-electric hybrids to its model lineup.
The Dearborn, Michigan, company said on Thursday that a much ballyhooed new electric pickup to be built at a new factory in Tennessee will be delayed by a year until 2026.
The big electric SUV, with three rows of seats, will be delayed by two years until 2027 at the company’s factory in Oakville, Ontario, near Toronto.
Insurance news
Do Safety Features In Cars Actually Reduce Car Accidents?
Do you need a car with an advanced safety system? I didn’t think I did—until I did.
I was backing up my Volvo XC90 in a grocery store parking lot in Reno, Nevada, last week when I heard a sudden alarm. The car screeched to a halt on its own. Another vehicle raced past me in the rearview camera. It turns out the Volvo has a radar-based rear collision warning system. If there’s a risk of a collision, it warns you and applies the brakes.
Why Car Insurance Keeps Getting More Expensive
The cost of auto insurance in the US rose more than 22% in the 12 months that ended in March, the biggest annual jump since 1976. Rates are up 43.7% since January 2020, making car insurance premiums one of the bigger contributors to high inflation.
Today’s cars are packed with high-tech gadgetry meant to entertain, comfort and protect occupants. The array of safety equipment now common on cars includes automatic emergency braking, blind-spot detection and lane departure warnings.
Digital marketing and retail news
Consumers remain interested in online vehicle shopping, study shows
Consumers interested in buying or selling a vehicle online with some dealership support remained steady in 2023, according to CarGurus' sixth annual U.S. Consumer Insights Report.
What's more, a majority of younger consumers want to fully purchase a vehicle online, the report found.
Car dealers are high-end retailers: time to embrace it
It’s time for automotive dealerships to act like the high-end retailers they are. This was a common thread at NADA 2024, and, coming out of challenging pandemic years, the appetite is strong as businesses look to transition to a new retail normal. According to PWC 91% of dealers believe a strong digital presence is important to sales strategies, more than 80% do not have a dedicated digital strategy built out.