Since announcing plans to enter the U.S. market, Vietnamese automaker VinFast has faced a series of problems and responded with a series of management shakeups. The latest sees its CEO “transition” to a new job, while founder Pham Nhat Vuong takes over her post. The automaker also said Saturday that it has replaced its chief financial officer.
After a few hiccups, Vietnamese automaker VinFast is on the move again in the U.S., adding four independent dealers to its network as well as preparing to introduce two concept vehicles at CES that could find their way into those dealerships in the future. Get details at Headlight.News.
Today’s cars already function as computers on wheels, some equipped with over 100 onboard microprocessors. But tomorrow’s vehicles will go significantly further, offering the sort of software-based features and functions found on Apple and Android smartphones and making use of the latest AI technology. Tomorrow’s “software-defined vehicles” will transform what motorists can do while driving – while generating hundreds of billions of dollars in new revenue streams for automakers. We’ll get a look at what this means at the upcoming Consumer Electronics Show in Las Vegas.
While most automakers rejoiced at the release of the December, fourth-quarter and full-year sales results for 2023, Ford and Stellantis didn’t enjoy it quite as much when they revealed their numbers. Get details at Headlight.News.
Revised rules that went into effect on January 1 took away federal tax credits on all but about a dozen EVs. But General Motors will make up for that loss by offering up to $7,500 in discounts on EVs like the Cadillac Lyriq and Chevrolet Blazer EV, the automaker said. Ford, meanwhile, said it is raising the price on some versions of its F-150 Lightning by up to $10,000, while lowering the cost of premium models by as much as $7,000.
GM, Toyota and Honda all enjoyed strong finishes at the end of the year to help them secure improved year-over-year results for the whole of 2023. Get details about the performance of the other companies at Headlight.News.
While many aspects of the industry are returning to normal, automakers and consumers are going to have to deal with some issues that linger like a bad hangover this year. Most of the problems will focus on the price of new vehicles. Find out more at Headlight.News.
After watching prices on new vehicles come down over the course of 2023, several brands rolled out price increases on their 2024 models. Jeep, Dodge, Toyota, Volkswagen and GMC all hiked prices from as little as $150 to more than $4,000 — although GMC did cut the price on one vehicle. Find out more at Headlight.News.
Headlight News for the Week of 1-2-24: 2023 Sales Rebound – EV Tax Credits – a Good Time to Buy an EV – 2024 Subaru Crosstrek. Check it out for these stories and more!
The real news is that pickup truck sales were up dramatically for both Ford and GM. Toyota Tundra and Nissan Titan sales were also up. Only Ram trucks had a down year. Read all about it at Headlight.News.
Tesla delivered 485,000 vehicles during the fourth quarter, bringing total sales for the year to 1.8 million, an all-time record. But the automaker fell short of the 2 million target CEO Elon Musk set early last year. And it has BYD, breathing down its neck, even though that major Chinese competitor has yet to enter the North American market.
The New Year brings bad news for potential EV buyers as only a handful of models now qualify for federal tax credits of up to $7,500. That’s because of new requirements covering the sourcing of batteries and raw materials like lithium and cobalt. Among the brands impacted are Tesla, Nissan, General Motors and Ford. And analysts worry this could further slow growth of EV sales.