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- 🩹 Industry Shake-Up: GM Takes #2 in EVs, Aston Martin Bleeds Cash, and Silicon Batteries Steal the Spotlight
🩹 Industry Shake-Up: GM Takes #2 in EVs, Aston Martin Bleeds Cash, and Silicon Batteries Steal the Spotlight
The Gist
GM’s now Tesla’s runner-up in EVs, but Ford’s throwing shade. Aston Martin is hemorrhaging cash ($1.8M daily—ouch), and Manheim’s taking on EV storage so dealers don’t have to. Silicon anodes are outpacing solid-state batteries in the EV tech race, while Hyundai’s hybrids are crushing sales records. Over in China, AI-fueled driver-assist startups are nipping at Tesla’s heels, and Europe’s dead-set on a 2035 CO2-free future (good luck, carmakers). Meanwhile, Suzuki’s eVitara is on the way—proving even budget brands want a slice of the EV pie.
The Breakdown
🚗 GM’s New EV Crown? Tesla’s Got Company.
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GM has recently clinched the #2 spot in EV sales across the U.S. for Q3 2024, moving 32,000 units with a lineup that includes Chevy’s Silverado, Blazer, and Equinox EVs, plus the GMC Hummer and Cadillac Lyriq.
Why does GM consider itself #2 while Ford claims that title?
Ford’s got a point: GM’s EV tally includes all its brands, while Ford counts itself as the #2 individual EV brand after Tesla. This sparks some healthy competition, but ultimately, GM’s claim still stands strong on the volume front.
Implications: For dealers, this highlights GM's strategic multi-brand EV push—potentially appealing to varied customer tastes under a familiar GM umbrella. Ford’s laser focus on specific EV models, like the F-150 Lightning, shows that different approaches can still yield fierce competition.
What’s driving GM’s big push?
GM has seen rapid sales growth after creating a dedicated EV platform (Ultium) and ramping up battery production with partners LG and Samsung SDI. This strategic scaling has propelled GM’s lineup past Ford’s, despite Ford’s early lead with popular models like the Mustang Mach-E.
Dealers should watch for more GM EVs arriving with the same Ultium tech, expanding options in both design and range.
💸 Aston Martin’s Cash Burn: $1.8 Million a Day
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Aston Martin is burning through over $1.8 million daily, with year-to-date losses hitting $295 million. Persistent supply disruptions and a dip in demand from China have forced the company to cut production forecasts by 1,000 units.
Are Aston Martin’s SUVs tanking?
Yes, DBX sales are down a staggering 52%, now representing only 30% of the brand's overall sales—a steep decline from over half last year. However, Aston’s exclusive sports models like the Vantage and DB12 are up 16%, showing there’s still appetite for Aston’s high-end offerings.
Takeaway: Dealers could see Aston Martin doubling down on its core sports car identity if the SUV experiment continues to lag. Luxury brands may have to pivot back to basics when innovation becomes too costly.
How’s the luxury car market shifting?
It’s a mixed bag. While demand for some high-end models remains steady, Aston’s balance sheet underscores the challenges luxury brands face in an economy where even affluent buyers are reconsidering their discretionary spending.
With increased competition and debt levels 40% above the company’s total value, Aston Martin will need a significant rebound to regain momentum.
🔋 Manheim Tackles EV Logistics and Storage Hurdles
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With an unmatched network of 6,500 acres across 75 U.S. locations, Manheim is innovating in EV logistics, storage, and distribution, preparing for a market flooded with electric vehicles in need of specialized care.
How is Manheim solving the EV logistics nightmare?
To help dealers, Manheim offers comprehensive EV storage solutions that accommodate safety, maintenance, and extensive charging needs, including 900+ chargers and skilled technicians on-site.
This expansion is a huge plus for dealers cautious about investing in EV infrastructure, making large EV shipments feasible and lowering the risk tied to in-house storage.
What about transporting these heavy batteries?
Manheim has optimized battery transport by aggregating shipments, reducing costs and logistical headaches for dealers facing expensive, specialized EV battery transit.
For dealers, this streamlined battery handling could simplify repair logistics and enhance EV trade-ins.
🏎️ Silicon Anodes vs. Solid-State Batteries: The New Battery Battleground
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Silicon anodes are racing ahead of solid-state batteries in the drive for faster, higher-performance EV cells. Despite years of hype around solid-state tech, silicon seems to have the edge—for now.
Why is silicon winning the battery race?
Silicon anodes deliver faster charging, improved power, and significantly higher energy density than traditional graphite-based anodes. They’re already showing up in some EVs, whereas solid-state batteries are still in development.
OEMs like Mercedes and GM are betting big on silicon, which offers promise but also has challenges—namely, degradation issues that shorten lifespan.
Is solid-state still the “holy grail”?
Not quite. Solid-state’s hype is cooling off due to significant durability and cost hurdles. It’s technically more stable than silicon anodes but isn’t ready for commercial scaling.
For the retail auto market, this means new and better batteries are coming—but solid-state may remain in the distant future. Silicon anodes are more immediate, which could drive near-term improvements in EV performance.
🚀 Hyundai’s October Records: A Win for Hybrids and EVs
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Hyundai set a record with 71,802 sales in October, up 18% from last year, led by models like the IONIQ 5 and Tucson HEV, which saw sales boosts of 51% and 140%, respectively.
Why is Hyundai crushing it in October?
Hyundai’s strategic mix of hybrids and all-electric models is resonating with consumers, especially with models like the Tucson HEV and Santa Fe HEV hitting all-time sales highs.
Implications: This strong hybrid push speaks to consumers’ ongoing demand for eco-friendly options that still offer power and flexibility—a trend likely to continue as fuel prices and sustainability consciousness increase.
What’s next for Hyundai’s EV lineup?
Hyundai plans to debut the IONIQ 9, a family-friendly, three-row electric SUV, this month. The model promises impressive range and a spacious, minimalist interior designed for comfort.
Dealers should anticipate high interest in this SUV, as it combines Hyundai’s strong EV reputation with family utility.
🌐 China’s AI Race: Autonomous Driving Wars
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Deeproute ai, a Chinese startup backed by Nvidia, raised $100 million and is ramping up its driver-assist tech to compete with Tesla in China’s growing autonomous vehicle sector.
Why is this Chinese company getting so much attention?
With Nvidia as a partner and plans to debut new tech next year, Deeproute ai could be a major player, especially as its autonomous systems avoid the costly “HD maps” used by competitors like Waymo.
For the U.S. auto industry, this highlights the intense competition over AI-led driving tech—and raises questions about who will lead in markets where regulation differs widely.
What’s Tesla’s role in China?
Tesla’s “Full Self-Driving” feature is entering China, which could set off a surge in consumer demand for driver-assist capabilities. Deeproute views Tesla’s entry as beneficial, potentially driving more interest in similar technologies.
This trend suggests that U.S. and Chinese companies are watching each other closely, and dealers might see the influence of these tech innovations trickle into other markets.
🇪🇺 EU’s EV Future: No Turning Back on CO2
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Apostolos Tzitzikostas, the new EU transport head, is holding firm on the EU’s 2035 ban on CO2-emitting vehicles, despite industry pushback.
Can European automakers keep up?
It’s a tough call. With a potential $15 billion in fines and factories facing closures, the EU auto industry is under immense pressure to comply with stringent emission targets.
For the global industry, this sets a new regulatory benchmark, challenging other markets to match Europe’s aggressive environmental goals.
What’s Tzitzikostas doing about EV infrastructure?
While he’s been vocal on green goals, the commissioner has been less clear on details—particularly on supporting fleets. However, there’s strong support for electric company fleets, which could spark a significant second-hand EV market within the EU.
Tzitzikostas’ focus on company fleets is notable, as it could generate EV demand at a faster rate, boosting supply for dealerships and easing the transition for everyday consumers.
🚙 Suzuki’s First EV Debuts with Toyota Partner
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Suzuki’s eVitara, built in India, marks the company’s first mass-market EV and will launch across Europe, Japan, and India in 2025.
How does the eVitara stack up in a crowded EV market?
It’s a competitive segment, with rivals like Hyundai and Kia already established. However, Suzuki’s decision to build the eVitara alongside Toyota’s similar bZ model suggests they’re confident in a value-driven, accessible EV.
For the market, the eVitara represents another affordable choice in an expanding segment, especially for consumers interested in mid-range EVs that don’t break the bank.
What’s unique about Suzuki’s approach?
With optional all-wheel drive, rugged design touches, and “Trail” mode, the eVitara offers something different—a small SUV with off-road capabilities.
This model could attract new buyers to Suzuki’s lineup and may be an appealing choice for drivers seeking versatility without the high price tag.
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