According to the latest research from J.D. Power, while more consumers are considering an electric vehicle (EV) for their next new vehicle, a growing number of consumers say they are very unlikely to consider an EV purchase for their next vehicle purchase. Key Findings of the study include: EV Holdouts Become More Resolute: Despite recent […]
International Energy Agency Projects Global EV Sales to Jump 35% in 2023
Global sales of electric cars are set to surge to yet another record this year, expanding their share of the overall car market to close to one-fifth and leading a major transformation of the auto industry that has implications for the energy sector, especially oil. The new edition of the International Energy Agency (IEA) annual […]
GM and Samsung SDI to Invest Over $3 Billion to Expand U.S. Battery Cell Manufacturing
General Motors Co. (NYSE:GM) and Samsung SDI announced today they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States that is targeted to begin operations in 2026. “GM’s supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness. Our new relationship with […]
Aluminum Use Expected to Grow in New Electric Vehicles
A new survey of automakers and Tier 1 suppliers conducted by Ducker Carlisle concludes that as battery electric vehicles (BEVs) continue to enter the mass market, aluminum demand will grow through the end of the decade. The report, 2023 North American Light Vehicle Aluminum Content and Outlook, released by the Aluminum Association indicates that demand […]
Reuters Reports on Concerns that Scratched EV Batteries Lead to Total Losses
A report by Reuters yesterday raised concerns that even slightly damaged electric vehicle (EV) batteries are causing auto insurers to total loss more vehicles. The article says that since there is no way to assess damage to the batteries or repair them, insurers are forced to write off the vehicles, causing higher insurance premiums and […]
February Total New-Vehicle Sales Projected to Increase as Availability Improves
Consumer spending on new vehicles will set a February record. Total new-vehicle sales for February 2023, including retail and non-retail transactions, are projected to reach 1,117,100 units, a 7.2% increase from February 2022 according to a joint forecast from J.D. Power and LMC Automotive. February 2023 has the same number of selling days as February […]
CIECA Forms Electric Vehicle and Battery Committee
The Collision Industry Electronic Commerce Association (CIECA) announced the formation of a new Standards Development Committee focused on Electric Vehicles (EVs) and electric batteries. The committee will be chaired by Frank Phillips, senior manager-Certified Collision North America for Rivian, Jake Rodenroth, North American Body Repair Program operations manager for Lucid Motors, and Ginny Whelan, senior […]
Gas-Powered Cars Cheaper to Fuel than Electric in Late 2022
According to a report by the Anderson Economic Group, the drop in gas prices gave the cost advantage back to ICE-powered vehicles for the first time since the second quarter of 2021. The fourth quarter brought relief at the pump for drivers of traditional Internal Combustion Engine (ICE) vehicles as the cost to drive 100 […]
Mitchell Publishes EV Collision Repair Insights Report
Mitchell, an Enlyte company, today announced the availability of its latest trends publication: Plugged-In: EV Collision Insights. The new quarterly report provides auto insurance and collision repair executives with up-to-date information on electric vehicle claims and market data. In 2022, EV sales hit a tipping point, representing 5.6% of all new vehicles sold according to […]
Hyundai Announces EV Subscription Program that Includes Insurance
Hyundai Motor America in partnership with Hyundai Capital America announced its new Evolve+ electric vehicle subscription service at the 2023 Chicago Auto Show. This new service provides flexibility and affordability to the consumer who wants to drive Hyundai’s newest electric vehicles without committing to a purchase or longer-term lease. Evolve+ is a month-to-month subscription service […]
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