Used Tesla prices are dropping due to increased inventory, while Xiaomi struggles with production delays for its YU7 SUV despite strong demand. Volvo faces delivery challenges with its EX30 EV but aims to improve with European production. Dodge is shifting the Durango lineup to V8 engines only, contrasting with Lexus dropping V8s. Mercedes-Benz CEO criticizes the EU's 2035 combustion engine ban, urging incentives for EV adoption. Italy launches substantial EV purchase incentives, and lithium prices may rise after a major Chinese mine shutdown. Acura teases an all-electric RSX crossover debuting next year.
Topics:used tesla pricesxiaomi production issuesvolvo ex30 evdodge durango v8eu combustion engine banitaly ev incentiveslithium supplyacura rsx ev
- Used Tesla Prices Tumble - Xiaomi Struggling to Deliver YU7 SUV - Volvo Shortens EX30 Delivery Time - Durango Going V8 Only - Mercedes’ CEO Slams EU ICE Ban - Italy Approves $700M In EV Incentives - CATL Shuts Down Its Largest Lithium Mine - Acura Teases New Electric RSX
"...ing the RSX in It's debuting the prototype at the Monterey Car Show in California, which is going on right n..."
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Speaker 1: This is Autoline Daily.
Speaker 2: The show is dedicated to enthusiasts of the global automotive industry.
The prices of used Tesla's are falling fast. About a
year ago, a used Tesla was worth about five thousand dollars more than the average use vehicle, but.
Speaker 1: Now it's about two hundred dollars less.
Speaker 2: According to data from car Gurus, the average used car costs just over twenty eight thousand dollars at the start of August, an increase of about one point two percent compared to last year, while the average used Tesla sold for a little over twenty seven eight hundred dollars, a drop of nearly five percent. One of the key factors
is a growing amount of used Tesla's hitting the market.
Speaker 1: According to Cox, automotive.
Speaker 2: Inventory increased thirty three percent in the first quarter. So
with more models to choose from, there's more pressure to lower prices. And Shaumia is running into teslaug problems, but
more like problems that it faced in twenty eighteen and twenty twelve. Shaomi seems to be in its own version
of production hell, trying to ramp up two models that are hot sellars at the same time. It has well
over three hundred thousand orders for its new U seven suv, but only delivered a little more than six thousand units in July. By contrast, it delivered twenty four four hundred
units of its SUS seven sedan. However, there's also a
significant backlog of orders for the SU seven, so the wait time for some customers is over a year. One
bright spot for Shaomi is that it recently completed an expansion of its factory in the middle of June, which will eventually double its production capacity. Even so, it's still
going to be a struggle to hit its full year goal of selling three hundred and fifty thousand vehicles. And
you may remember that Elon Muss said that Tesla's production hell.
Speaker 1: Transition into delivery logistics.
Speaker 2: Hell, and we bet Shaomi is going to go through the same thing if it isn't already. Volvo is also
struggling to ramp up production of one of its evs.
In twenty twenty four, the Ex thirty ranked thirty in EV sales in Europe, but because the model was only made in China at the time, delivery times increased to eight months for some customers, and that probably played a role in the model dropping out of the top ten in.
Speaker 1: The first half of this year.
Speaker 2: In Europe, however, production of the EX thirty at Volvo's plant in Belgium kicked off in April. So far those
models have gone to the European market, which should bring delivery times closer to three months. The move also allows
the EX thirty to avoid terriffs that the EU put on Chinese made evs, and Company CEO Hakan Samuelson says he expects the model sales and market share to return where they were before the tariffs, and now with the tariff situation in the US, Valvo will start bringing Belgium made Ex thirties to the market because they face significantly lower import fees. While Lexus is dropping V eight's, the
Dodge Durango is going V eight only.
Speaker 1: All versions from.
Speaker 2: The base GT all the way up to the SRT Hellcat will come standard with some form of the HEMIV eight engine.
Speaker 1: Starting on Wednesday.
Speaker 2: A V eight GT can be ordered for about forty four five hundred dollars including destination charges, which is four thousand dollars more than the outgoing base V six model.
Speaker 3: Performance that shines even in the rain, that's what really matters, rich don't pretends to tires, improved grip and wet conditions.
Speaker 2: Mercedes Benz CEO Olicellenius is criticizing the European Union's plan to ban the sale of new gas and diesel powered vehicles in twenty thirty five. Carmakers in Europe are struggling
with weak demand, Chinese competition, and lower than expected EV sales.
Speaker 1: That's why Collenius, who.
Speaker 2: Is also the head of the ACEA, which represents automakers in Europe, says the EU needs a quote reality check and that Europe's car market could collapse if the ban goes into effect. The combustion engine sales ban is up
for review later this year, and Collenius is calling for tax incentives and cheaper charging prices as ways to encourage consumers to switch to eves.
Speaker 1: And Italy just.
Speaker 2: Approved incentives to help boost EV sales. The country announced
that it will provide six hundred million euros or nearly seven hundred million dollars for purchasing a fully electric vehicle.
Individual car buyers will receive up to ten thousand euros for buying a new EV, while companies can receive up to twenty thousand euros for buying an electric commercial vehicle, but there are some limitations. Buyers must scrap an ice
vehicle from twenty fifteen or earlier, and the funds will be limited to individuals or companies in large urban areas.
EV's only accounted for six percent of total sales in Italy in June, compared to fifteen percent across the rest of the European Union, the cost of lithium EV batteries could be going up. Prices in stocks of lithium surged
earlier today after Chinese EV battery makers COTL confirmed that it halted operations at one of its mines in China.
That mine accounts for six percent of global lithium production and it will be shut down for at least three months.
CTL is seeking to renew its permit to operate the mine, but China didn't approve the license because the global supply of lithium is higher than demand. That oversupply has caused
lithium prices to tumble, but now with the COTL mind being shut down, prices are expected to remain higher in the near term. Acura is reviving the RSX in It's
debuting the prototype at the Monterey Car Show in California, which is going on right now. But so far all
we have is this teaser image that shows the front of the car. The RSX was originally a two door
coup that first went on sale in the early two thousands, but the new model will be a sporty all electric crossover.
It's the first vehicle to use Honda's in house developed EV platform, and it will be the first EV built at Honda's EV hub in Ohio. The new RSX goes
on sale in the second half of next year in the US, and we're.
Speaker 1: Looking for some of your help.
Speaker 2: We've got a survey we'd like you to fill out to help us do a bit of market research with a new sponsor we've got coming on board, Alex Partners.
You can find it on the post tab on our YouTube channel, or we've got a link in today's transcript.
There's only five questions and we just want your answers right off the top of your head. No need to
research anything. But that's a wrap for today's show. Thanks
for watching.
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