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Auto execs are coming clean: EVs aren't working

k1976

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HERTZ Global is replacing its chief executive officer in the wake of a disastrous bet on electric vehicles (EVs) that the company began unwinding in recent months.

Stephen Scherr, who ran Hertz for just over two years after three decades at Goldman Sachs Group, has decided to step down, the rental-car company said on Friday.

It is replacing him with Gil West, the former chief operating officer of General Motors’ Cruise robotaxi unit. West also will join the board of directors on Apr 1, according to Hertz’s statement, which confirmed an earlier Bloomberg report.

Scherr, 59, joined Hertz several months after it emerged from bankruptcy and started making splashy wagers on EVs.

Under new owners Knighthead Capital Management and Certares Management, the rental company announced plans to order 100,000 vehicles from Tesla, sending the automaker’s market capitalisation soaring past the US$1 trillion mark at the time.
 

k1976

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cheekahboom becum Cheekahpoo


Hertz doubled down on EVs in the months after Scherr took over, placing big orders with Polestar, the electric-car maker owned by China’s Geely and Sweden’s Volvo Car, and GM. The company ended up buying a small number of cars from the two companies, a spokesperson said.

Those bets went awry last year, when Tesla slashed prices across its lineup to keep growing vehicle sales. This hammered the resale value of used Model 3 sedans and Model Y crossovers just after Hertz had added tens of thousands of those vehicles to its fleet.

By December, Hertz started selling off 20,000 EVs, or about a third of its EV fleet. Germany’s Sixt – a leading car-renter in Europe – is taking even more drastic measures, phasing Teslas out of its fleet entirely.
 

Hypocrite-The

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Hybrid sales charge ahead as electric cars slow down
Jennifer Dudley-Nicholson
May 03, 2024, updated May 03, 2024
Hybrid vehicle ales are soaring and represented 18.3 per cent of all new vehicles sold in April.
Hybrid vehicle ales are soaring and represented 18.3 per cent of all new vehicles sold in April. Photo: AAP

Hybrid vehicle sales are taking off in Australia, with figures revealing their popularity has more than doubled in a year and the low-emission cars represent almost one in every five new models.

But SUVs continue to dominate Australia’s automotive market, followed by light commercial vehicles, such as utes.

The findings were revealed by the Federal Chamber of Automotive Industries on Friday, in data that also showed consumers purchased a record number of new vehicles during April but the popularity of electric cars had stalled.

The insights come as the federal government prepares to debate its new vehicle efficiency standard in parliament that is designed to encourage automakers to bring more low-emission cars to the country from next year and cut vehicle pollution.

FCAI chief executive Tony Weber said vehicle sales during the month of April were surprisingly strong in a challenging economy, with more than 97,000 new models sold – 15,000 more than in April last year.

The figures also showed Australians bought more than 401,000 new cars in the first four months of 2024, setting a new record.

“April’s result highlights strong consumer confidence in purchasing new vehicles, surpassing our expectations, and is a testament to consumer choice and the industry’s resilience in a challenging economic landscape,” Mr Weber said.

SUVs represented the most popular style of vehicle in Australia, making up 55 per cent of all new cars sold, followed by light commercial vehicles, such as utes and vans, with 22 per cent of sales.

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An SUV also stole the title of best-selling vehicle during the month, with Toyota’s RAV4 displacing the Ford Ranger ute for top spot.

Only two passenger vehicles, the Toyota Corolla and Toyota Camry, made the top 10 list in April, with all other places were filled by SUVs and utes.

But the figures revealed hybrid vehicles were also soaring and represented 18.3 per cent of all new vehicles sold compared to 7.5 per cent last year.

Australian motorists bought more than 16,000 hybrid vehicles and 1300 plug-in hybrid cars last month, according to the FCAI, which represented an increase of more than 130 per cent compared to 2023.

Weber said the trend showed drivers were increasingly considering the fuel efficiency and environmental impact of the cars they bought.

“We are witnessing a shift in consumer preferences towards more sustainable and efficient vehicles,” he said.

Electric vehicles did not enjoy similar growth during April, with sales falling from 9.5 per cent of the market in March to 6.4 per cent during April.

EV sales were also down compared to last year, with consumers buying 336 fewer models than the same time in 2023.

Electric car brand Tesla still scored a spot among the top 10 automakers after making more than 2000 sales during the month, but Toyota again claimed top spot with more than 77,000 sales.

– AAP
 

Eisenhut

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ENV%20CARS640%20(5).jpg


Did you notice all metal, minerals and caterpillar machine are not used and mined in Consumer country? But in 3rd world countries. So according to AMDK thinking, as long as my air is clean, its OK
 

Byebye Penis

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Did you notice all metal, minerals and caterpillar machine are not used and mined in Consumer country? But in 3rd world countries. So according to AMDK thinking, as long as my air is clean, its OK
Singapore too. We are exporting our pollution by buying electricity from Indochina, Australia, Indonesia, etc
 

congo9

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driving habits is being championed by the government. Not by people who thinks that sustainability is important.

We just stay in this earth for 43,200 days if you leave to a ripe 120 years old. What is there to be sustainable about, so that you have enough for your next generation so that you have enough land to give to your next generation?

Get a grip and be thankful for what you have now. Get a great and enjoy your life. F*** everyday love everyday, give everyday. Life on this shitty place is great.
 

syed putra

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We need to wait for the optimal battery to be manufactured. Current EV's will lose their value as battery tech is not at it's best yet.
 

Byebye Penis

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Cars are piling up at European ports at an alarming rate​

https://qz.com/cars-european-ports-slow-sales-bottlenecks-1851397116

Imported vehicles are seriously piling up at European ports, turning them into “car parks.” Automakers are distributors are struggling with a slowdown in car sales as well as logistical bottlenecks that make it hard to alleviate the buildup of new, unsold vehicles.

Some Chinese brand EVs had been sitting in European ports for up to 18 months, while some ports had asked importers to provide proof of onward transport, according to industry executives. One car logistics expert said many of the unloaded vehicles were simply staying in the ports until they were sold to distributors or end users.

“It’s chaos,” said another person who had been briefed on the situation.
 

Byebye Penis

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Mercedes-Benz Group AG is scaling back its electric vehicle ambitions due to weakening sales, opting for combustion engines instead.

 

syed putra

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Electric Car Shuts Down, Traps the Driver Inside, then Catches Fire.​


The battery pack lies on the floorboard so if the low EV car hits a rock and fracture the battery unit, a short circuit may occur causing these fires.
I do not feel safe in a EV. The charging rocket is not even standard. Various manufacturers have their own plug and socket system.
Toyota hybrid does not use charges if I am not mistaken. The battery charges itself when braking or going downhill. And power the car when accelerating saving on fuel.
 

Hypocrite-The

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Carmakers bet on hybrids as shift to EVs slows​

Nissan, Hyundai and Ford focus on tapping resurgent demand for so-called stop-gap vehicles
Person charging hybrid car
High interest rates and concern over EV charging points has prompted a rebound in sales of hybrid vehicles © Getty Images
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Global carmakers are stepping up their investment in hybrid technologies as consumers’ growing wariness over fully electric vehicles forces the industry to rapidly shift gear, according to top executives.
A combination of still high interest rates and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that most of the industry had long regarded as nothing more than a stop-gap.
Tapping the resurgent demand for hybrids was a priority, executives from General Motors, Nissan, Hyundai, Volkswagen and Ford told the Financial Times’ Future of the Car Summit this week.
“We have to invest heavily in the future of plug-in hybrids,” said Mark Reuss, the president of General Motors. “We have to be agile. We have a global tool chest of technical things that we can deploy fairly rapidly.”
The view was echoed by José Muñoz, global president of Hyundai, which is now considering manufacturing hybrids at its new $7.6bn plant in Georgia given more drivers are baulking over buying fully electric vehicles.
“If you asked me six months ago, definitely a year ago, I would have told you . . . fully electric,” said Muñoz. “A lot of things have happened between then and now. Electric is still the future. But now we are seeing a longer transition.”
Electric car sales growth slowed in the US and Europe last year, prompting carmakers to offer discounts. Industry executives have already acknowledged that the market has lost some momentum as future sales growth increasingly depends on demand from mainstream buyers rather than early adopters.
At the same time, there are concerns over whether governments might backtrack on previous plans to force a rapid transition away from petrol-based cars.
Ford’s European boss Martin Sander said that the pace of the transition in Europe was “down to the consumer”, and that US group was prepared to continue selling hybrid models into the next decade.
“We want to make sure that we are setting up our business model so that we are flexible enough” to address shifts in demand, Sander told the summit. “Our whole business and life cycle planning is much more dynamic now.”
US rival General Motors, which had largely eliminated plug-in hybrids from its range, said in January that it would reintroduce the technology.
Consumers’ increasing hesitation comes just as carmakers face a growing threat from Chinese manufacturers rolling out cheaper electric vehicles both in their domestic market and, increasingly, in Europe.
To remain competitive in China, Peugeot needs to stay “agile” to avoid getting sucked into the country’s price war, said its chief executive Linda Jackson. “We’re holding on but the Chinese market is the biggest automotive market in the world so it’s very difficult for a global manufacturer not to be present,” Jackson said.
According to Schmidt Automotive Research, Chinese brands like BYD as well as brands such as Polestar that manufacture in China accounted for almost 10 per cent of the fully electric cars registered in western Europe in March. That is up from just over 4 per cent two years ago.
“We see an increase of competition coming from China brands and other technology worlds,” Nissan’s chief executive Makoto Uchida told the summit.
The threat from Chinese companies has only heightened carmakers’ focus on hybrids, which typically have double-digit margins compared with often lossmaking fully electric vehicles.
For many carmakers, the slower switch is allowing them to continue to squeeze profits from traditional engines while also providing more financial firepower to develop electric vehicle technology.
The majority of the industry still believes that developing profitable fully electric cars is the most important long-term goal.
Earlier this week, Toyota, the biggest champion of hybrids in recent years, said that it planned to lift spending on new technologies by more than 40 per cent after hybrid sales drove the group’s profits to a record last year.
 

syed putra

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The battery technology is not at its prime yet for EV's. Slow charging, charging standards have not been resolved. Some DC charging ststions are too slow for newer cars or charge too fast for older cars resulting in damages in certain cases.
New batteries may use sodium insteaD of lithium as its cheaper so EV cost for new cars may drop causing older cars to have no value. Plus batteries degrade over time or usage. And replacing it is very expensive.

So far, only NIO have come up with a solution by replacing batteries everytime you need to recharge. Thus negating all the problems above.
 
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