- Electric Vehicle Market Adjustments: Despite a continual growth trajectory for electric vehicles (EVs), there has been a slight downward revision in sales projections for 2024. Originally expected to hit 17.5 million units, analysts at BloombergNEF have now adjusted this figure to 16.7 million, reflecting a more cautious outlook following a year of subdued demand.
- Used Vehicle Market Trends: The used vehicle segment is experiencing lower sales volumes and prices, indicating a shift in market dynamics. In November, dealers sold approximately 1.4 million used vehicles, marking a significant 12.8% decrease from October.
- Resignation at NHTSA: Ann Carlson, the acting administrator of the National Highway Traffic Safety Administration (NHTSA), announced her resignation effective December 26. Carlson played a pivotal role in overseeing investigations into Tesla’s Autopilot system and initiatives for enhancing fuel economy standards.
- Honda’s Innovative Lease Program: Addressing affordability concerns, American Honda has launched a program offering lease terms on used vehicles. This program, available for both Honda and Acura vehicles, is positioned as a cost-effective option for purchasing newer models.
- Tesla’s Operations in Mexico and the UAW’s Involvement at VW: Elon Musk’s hesitation regarding a massive Tesla plant in Mexico is causing uncertainty, while the United Auto Workers (UAW) delivered a letter to Volkswagen’s Tennessee plant as part of their organizing efforts.
- Automotive Innovations and Reveals: The industry continues to see exciting developments, such as the debut of McLaren’s GTS with a potent twin-turbo V8 and the opening of reservations for the electric Acura ZDX and ZDX Type S.
EV Market Shifts, Used Vehicle Trends, and Key Auto Industry Movements: Honda’s New Lease Program, Tesla’s Mexico Plant Uncertainty, and McLaren’s Latest Reveal
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