Used car prices fall, Biden defends EV rules, GM to make hydrogen vehicles

Inside Automotive

Tech YouTuber Faiz Aly shares highlights from Tesla’s Cybertruck occasion
Tesla’s long-awaited Cybertruck is now formally right here, following the electrical automobile model’s latest launch get together. Nevertheless, between the corporate’s rising listing of controversies and the polygonal pickup’s chaotic manufacturing historical past, reactions have been combined. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by tech YouTuber Faiz Aly. Watch full section right here.

Prime Tales

Wholesale used automobile costs declined in November because the auto business entered its seasonal hunch. Based on Cox Automotive’s Manheim Used Car Worth Index, used automobile costs declined 2.1% from October and 5.8% from November 2022. The tempo at which automotive values depreciated diverse between segments. Smaller passenger automobiles noticed probably the most vital drop, falling 11.3% year-over-year. In the meantime, pickups retained their worth probably the most, with wholesale costs declining solely 4.6%. Learn Extra

Home Republicans voted in favor of a invoice that may block among the Biden Administration’s electrical automobile insurance policies, with a number of Democrats becoming a member of to approve the regulation. The invoice in query would stop the White Home from requiring automakers to step by step increase electrical automobile gross sales till they comprise a majority of latest automotive purchases. Whereas the tempo of EV adoption has quickly elevated within the wake of competitors between legacy automakers and Tesla, President Biden’s coverage has been criticized, primarily by producers and Republican lawmakers, for its aggressive timeline. Learn Extra

Common Motors and Autocar Industries have reached a joint growth settlement to supply a line of zero-tailpipe emission business automobiles that run on GM’s Hydrotec energy cubes. By 2026, Autocar’s Birmingham, Alabama, facility will produce the primary zero-emission automobiles. These automobiles, together with terminal tractors, dump vans, street upkeep automobiles, and cement mixers, sometimes depend on diesel engines as their energy supply. Learn Extra

On December 6, Ford introduced that the federal tax credit for its electrical Mustang Mach-E automobiles could not be out there beginning in January 2024. That is because of the U.S. Treasury having outlined new battery tips that may go into impact on January 1. The intention is to step by step transfer the American EV provide chain away from “overseas entity considerations,’ reminiscent of China. Consequently, many producers, together with Ford, anticipate dropping a portion of their electrical automobiles (EVs). Learn Extra

For Sellers

Confirmed methods to spice up your dealership’s web site conversion fee
Most of automotive consumers first study your dealership and automobiles out of your web site. That’s why having a dealership web site that will get clients within the door is so necessary. We’ll focus on just a few basic and particular concepts and ideas that might enhance your web site conversion fee shortly. We intend to say a bit of greater than “Supply chat!” too. Learn Extra

Weekly roundup: Stellantis brings electrical Fiat 500e to U.S., GM opens EV charging stations, Biden tightens EV guidelines
Stellantis launched the Fiat 500e, marking its first EV foray within the U.S. GM’s collaboration with EVgo opened up new EV charging stations at Pilot Journey Facilities. A latest research mentioned the challenges dealing with the used EV market, highlighted by a big gross sales slowdown. Moreover, the Biden Administration adjusted the most recent EV laws aimed toward lowering Chinese language affect within the U.S. EV market. Right here’s a more in-depth take a look at these prime tales and extra headlines to remain on prime of this week in automotive business information. Learn Extra