Tensions rise as China pressures the EU to drop proposed tariffs on Chinese cars, threatening retaliatory tariffs on European goods. Meanwhile, Chinese car exports surge 26% in 2024, dominating markets like Russia despite dealer complaints. A major cyberattack disrupts thousands of US car dealerships, highlighting vulnerabilities in dealer management systems. At Pikes Peak, electric vehicles from Ford, Hyundai, and Rivian set impressive records, showcasing EV performance advancements. Ferrari unveils plans for a new EV production facility powered by renewable energy. The episode also explores AI-driven personalized Formula 1 broadcasts and the growing trend of Chinese automakers using live streaming to engage younger buyers.
Topics:china eu trade tensionschinese car exportsrussian car market issuesus dealer cyberattackpikes peak ev recordsferrari ev productionformula 1 ai broadcastschinese automaker livestreamingautomotive supply chain revenuesvehicle network technology
- China to EU, Drop Tariffs…Or Else - China Car Exports Up 26% In 2024 - Russia Car Dealers Upset at Chinese OEMs - Cyberattack Still Disrupting Car Dealers - Bosch #1 Auto Supplier Last Year - Ford, Rivian and Hyundai EVs Tackle Pikes Peak - Ferrari Launches New Facility to Make EVs - F1 and Amazon Use Generative AI to Enhance Race Broadcasts - China Car Execs Turn to Livestreaming to Lure Customers
"...in Colorado, with Ford sixteen hundred horsepower Lightning super Truck setting the fastest overall time of j..."
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This is Underligning Daily, the show dedicated to enthusiasts of the global automotive industry.
China is tightening the screws on the European Union. It's demanding that the
EU drop all proposed extra tariffs on Chinese made cars by July fourth, or else. That or else includes threats of higher tariffs on European cars sold in
China, as well as higher tariffs on European pork, dairy products, and French cognac. But China is also dangling a carrot for the German automakers.
It says it will cut the fifteen percent tariff on imported cars with gasoline engines two and a half liters are bigger if Germany can get the EU to drop the tariffs. The country already opposes additional tariffs on Chinese goods because it exports
so much to China and does not want to be the victim of any Chinese retaliation. So China is trying to get Germany to do more to stop the
tariffs. One thing's for sure, This trade dispute is going to go on
all year long, and it runs the danger of breaking out into a full blown trade war. And that trade war may not end at the borders of
Europe. That China Passenger Car Association reports that Chinese automakers exported two point four
five million vehicles globally in the first five months of the year, up twenty six percent compared to last year. Most of those cars went to Russia,
more than three hundred and seventy two thousand, five hundred of them. That's
nearly two hundred thousand more than went to Mexico, which was the second largest destination for Chinese exports. And while Russia and China are expressing solidarity on the
geopolitical front, Russian car dealers are fed up with the Chinese car companies.
The six largest Chinese car companies now control forty three percent of the Russian car market, and Russian auto dealers say the Chinese are taking advantage of them.
They've even filed a complaint with Russia's anti monopoly agency. They accuse the automakers
of not providing technical service and support and forcing them to buy more cars than they can sell. The dealers say if they don't meet sales targets, they
lose sales bonuses or even have their franchise contract voided. They also complain they're
not paid enough for warranty claims and that some Chinese automakers force them to sell non automotive products like bicycles. But Russian car dealers aren't the only ones that
have it bad. That cyber attack on CDK, a company that handles car
dealer management systems in the US, is wreaking havoc across the industry. Up
to fifteen thousand dealers have seen their businesses disrupted and have literally resorted to using pen and paper to keep track of sales, pairs and service orders. Bloomberg
reports that CDK is ready to pay millions of dollars to unlocket system to the hacker group that's taking responsibility for the attack. The hackers are reportedly operating out
of Eastern Europe. Dealer Management Systems or dms's generate sales leads handle trade ins,
car loans, and vehicle registration. They order replacement parts and schedule service
appointments, so the impact is enormous. CDK transacts two point six percent of
the US GDP. According to Automotive News, BOSH generated more money from its
global automotive sales than any other supplier last year. It brought in nearly fifty
six billion dollars in twenty twenty three, which was about six billion dollars more than ZF in second place. Magna is in third at nearly forty three billion
dollars, and then comes the biggest prize on the list to me. CATL,
the biggest battery maker in the world, generated over forty one billion dollars in sales last year. Denso Yndai, Mobis, Asin, Continental for Via,
and Lear round out the rest of the top ten. There's nothing wrong
with heavy metal, hey light enough, but with world class composit material taging automotive technologies makes vehicles lighter, safer, and more eco friendly. Eves took
center stage at this weekend's Pike's Peak Hill Climb in Colorado, with Ford sixteen hundred horsepower Lightning super Truck setting the fastest overall time of just over eight minutes and fifty three seconds. In fact, it was the only vehicle to go
sub nine minutes, but it ended up being about six seconds slower than last year's Supervan because of a an unexpected power loss that required it to come to a complete stop and reboot that added about twenty six seconds over the super truck's qualifying time. Even so, it would still be about thirty seconds off the
sub eight minute record time set in twenty eighteen by the VWIDR. Hyundai also
had a good day, running in both the modified and unmodified categories with the Ionic five n It set the electric production vehicle record with the unmodified five n AD just under ten minutes in fifty seconds, which only missed the production SUV record set by the Bentley Benega by less than half a second. However,
it did beat out a quad motor Gen two Rivian R one T which had shortly before claimed the production EV record with a time over ten minutes and fifty three seconds. But that's still half a second faster than last year's truck,
and it gives it the record for fastest production pickup. Hyundai's other five ends
set the record for fastest modified EV up Pike's peak at over nine minutes in thirty seconds. We've got more details on the E building where Ferrari will make
its first EV that launches late next year. Not only will it make that
electric car, which reportedly costs over five hundred thousand euros, but pure cees and hybrids as well. It also dedicated an area to develop and produce powertrains
for all of those models, and it will make high voltage batteries and e axles. Two. Ferrari says the building will be powered entirely by renewable energy,
which will significantly reduce its CO two emissions. Race fans could be treated
to a much better viewing experience as media companies are working on using generative AI to produce personalized broadcasts. Formula one is working with am on web services to
provide television viewers with customized coverage, all with the idea of keeping viewers glued to the race longer. AWS already helps predict when one driver will catch another
based on how the cars are performing and how the tires are degrading, but now fans will be able to choose what kind of data trivia in stories they want to watch. Though the F one series is getting more competitive, some
of the races have been real snoozefests thanks to the domination of Max Verstopen and the Red Bull F one team, So a personalized viewing experience could keep fans more engaged even when a race is being taken over by one driver. The
competition in the Chinese car market is becoming so intense the car executives are turning to live streaming as a way to connect with potential customers. Bloomberg reports that
it's not just execs from EVI startups participation in the live streams. Senior execs
from China's traditional state owned brands are now doing so too. The live streams
attract younger customers and allow companies to interact directly with car buyers and show off of cars technology and performance, and one way execs are doing that is taking their vehicles on road trips. Joe me Ceo, for example, showed off
the company's driver assistance features in a three and a half hour live stream in May that racked up thirty nine million views, and Neo's founder has grown his follower base on Weibo to six hundred thousand people thanks to his live stream road trips that started in March. That brings us to the end of today's show.
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