AD #4170 - Ram to Get 1st SUV in 2028; Kia Delays EV4 Launch in U.S.; VW Group Posts €1.3 Billion Net Loss in Q3
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AD #4170 - Ram to Get 1st SUV in 2028; Kia Delays EV4 Launch in U.S.; VW Group Posts €1.3 Billion Net Loss in Q3
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Speaker 1: This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.
Speaker 2: Happy Halloween everyone.
Speaker 1: RAM is expanding beyond trucks and commercial vans Stillanta CEO Antonio Felosa told Wall Street analysts that RAM will get its first suv in twenty twenty eight, although if you want to get technical, Dodge did start offering the RAM charger in nineteen seventy four, well before RAM ever became its own brand. The new model will be built at
the automaker's Warren Truck plant in Michigan, and it will be offered with a gas engine and with a range extended hybrid. That's all the details the company provided, but
that plant currently only makes the Jeep Grand Wagoneer, so this new RAM model will also likely be a full size suv. Since he took over as CEO in June,
Fullosa has quickly expanded the RAM lineup. In addition to
the new SUV, the HEMIV eight for the fifteen hundred pickup was revived. Two new SRT models will debut in
the next three months, and RAM will get a new mid size pickup truck in twenty twenty eight. It looks
like some of the shine might be coming off of BYD.
The automaker sold one point one five million vehicles in the third quarter, down nearly two percent compared to last year.
Its revenue of twenty seven billion dollars was a slight drop of three percent, and BYD's net profit tumbled by a third, dropping to one point one billion dollars. Tough
competition and the price war in China are putting a dent in the automaker's earnings, and its market share in China dropped the fourteen percent in September, down from eighteen.
Speaker 2: Percent a year earlier.
Speaker 1: But while BYD is struggling in China, it expects to double its exports this year compared to last year. But
BYD wasn't alone in its struggles. Volkswagen also had a
tough third quarter. While its sales were up four and
a half percent to two point two million vehicles and that brought in eighty billion euros in revenue, which was up two percent from a year ago, VW took a big hit to its operating and net results. The automaker
posted an operating loss of one point three billion euros and a net loss of one point one billion VW says the main culprits for the drop are US tariffs, which VW estimates have cost it five billion euros this year, and from backing off of Porsche's plans to go all electric.
While VW had a rough quarter, the company is still sticking to its outlook for the full year, but says that could change if the next period chip shortage is it resolved soon, and one way it's looking at turning those results around is with even more platform sharing. That's
according to the company CFO, who says VW wants to be able to make more cars from different brands on the same production lines. This was a little surprising to
me because it already does a lot of platform sharing.
Speaker 2: VW'SMQB and MEB.
Speaker 1: Architectures are used by most of the group brands, including Audi.
While Audi and Porsche have a couple of platforms that they share. One of those is PPE, which underpins vehicles
like the new AUDIQ six and the new Porsche mccon electric.
But now that could spread to more of those brands.
I think it would make sense for higher end models from Volkswagen or even Cooper to use PPE, and the more scale it can get with its hardware and software.
Speaker 2: The more VW can drive down costs.
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Speaker 1: It was only several months ago that a senior product planner at Kia told us that the company expected the all electric EV for SADAN to hit the US market in early twenty twenty six, But that won't happen and it may never now. Kia says that due to market
conditions for EV's in the US, the EV four is being delayed until further notice. We believe market conditions means tariffs.
President Trump's One Big Beautiful Bill, which set the expiration date for the federal EV tax credit had already come out by the time we met with that Kiya product planner in July, so Kia should have already known buyers.
We're going to lose access to that seventy five hundred dollars credit before the EV four was going to hit the market, But now with tarras adding costs to vehicle imports, it could be that the model was just going to be too expensive, impacting both sales and profits. Speaking of
prices going up, Cadillacs already expensive, Celestic is getting even more expensive for the twenty twenty six model year. Instead
of eight years of connected services and a premium pattern in the smart glass roof being offered as options, they'll come is standard, and that pushed the starting price from around three hundred and forty thousand dollars to the low four hundred thousands. I wouldn't be surprised if market conditions
also played a role in this price increase, but so far it hasn't seemed to turn off Celestic buyers. Cadillac
says all twenty twenty five output has been reserved and the brand is taking orders for these new models. Here's
another sign of how much the auto industry has changed in just the last few years. Ford is spending about
three hundred and seventy million dollars to fire its old engine plant in India back up. The automaker pulled the
plug on the plant about four years ago, but it's pivoting away from some of its EV plans and focusing more on ices. So the plant in India will be
retooled to make up to two hundred thousand high end engines a year for export. No word on what those
high end engines will be, but the plant used to make gas and diesel four cylinits. While we don't know
exactly where the engines will end up, they're not being exported to the US. Sales of new energy vehicles or
any VS in China are expected to be very strong this month. The China Passenger Car Association is forecasting one
point three two million sales of fully electric, plug in hybrid and extended range electric vehicles, accounting for nearly sixty percent of the market. Overall sales are expected to total
two point two million units, which is a two point six percent drop compared to last year. A holiday period
during the first week of the month led to the slowdown in sales.
Speaker 2: That holiday, known as the Golden Week.
Speaker 1: Usually results in a surge in gasoline use because people are going on vacation and taking road trips, but according to Chinese Consultancy SCI, gasoline demand in October is expected to fall nine percent to twelve point five million tons, about the same as September. Consumption in China actually peaked
in twenty twenty three, and demand is expected to fall another four percent this year compared to twenty twenty four.
And it's all got to do with more and more Chinese consumers ditching their gas powered vehicles for nyvs to drive the point home. During the Golden Week, daily use
of electricity at charging stations increase forty five percent compared to last year. But that brings us to the end
of today's show. Thanks for tuning in and I hope
that you have a great weekend.
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About this episode
Ram is set to launch its first full-size SUV in 2028, expanding beyond trucks with gas and hybrid options. Kia delays its EV4 launch in the U.S. due to challenging market conditions, likely tariffs. Volkswagen posted a €1.3 billion net loss in Q3, impacted by U.S. tariffs and strategic shifts, yet plans more platform sharing to cut costs. BYD faces declining profits amid fierce competition but aims to double exports. Cadillac's Celestiq sees a significant price hike with added standard features. Ford is reviving an Indian engine plant to produce high-end engines, signaling a pivot back to internal combustion engines. China's EV sales remain strong despite a slight overall market dip.
Original notes
- Ram to Get 1st SUV in 2028 - BYD’s Q3 Net Profit Plunges 33% - VW Group Posts €1.3 Billion Net Loss in Q3 - VW Wants to Share More Platforms - Kia Delays EV4 Launch in U.S. - Cadillac Boosts Celestiq Starting Price By $60,000 - Ford Revives Engine Plant in India - NEVs Account For 60% Of China Sales in October - Gasoline Use in China Drops Because Of EVs
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