Internal combustion engine (ICE) vehicles are experiencing a surprising global resurgence as interest in electric vehicles (EVs) and hybrids declines due to concerns over cost, infrastructure, and government policies. Industry leaders like Lucid Motors acknowledge slowing EV demand, with Morgan Stanley predicting an 'EV winter.' Meanwhile, companies like Redwood Materials pivot towards energy storage amid shifting market needs. The episode also highlights new vehicle launches, including Kia's updated Seltos and Subaru's competitively priced Uncharted EV. Notably, luxury vehicles priced above $75,000 outsold more affordable models, reflecting changing consumer preferences and affordability challenges.
Topics:internal combustion engine comebackelectric vehicle demand declinehybrid vehicle interest dropEV market challengesLucid Motors outlookbattery recycling and energy storagenew vehicle launchesluxury car sales trendsaffordability in auto marketinnovative vehicle concepts
- ICE Is Making A Global Comeback - Lucid Sees EV Demand Drop in U.S. And EU - VinFast Losing U.S. Dealerships - Redwood Pivots from EV To Energy Storage - Why EVs Will Make A Comeback - Kia Introduces All-New Seltos - Citroen’s ELO Concept Sort of Like Canoo - Subaru Prices EV To Sell - Expensive Cars Outsell Cheap Ones - Riding Mowers Look Like 1950’s Classic American Cars
"Learn more at VCSP dot com. Speaker 1: Keia took the wraps off the all new Selto's Compact SEV and it gets a fresh look inside and out. It comes with three powertrain setups at launch, a one point six liter turbocharged gasoline engine that can be mated with a seven speed dual clutch transmission or a six speed manual. A higher output version of that engine is"
"...y minutes. The uncharted is based on the electric Toyota CHR and it's built in Japan. Here's a fascinating fac..."
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Speaker 1: This is outline daily to show dedicated to enthusiasts of the global automode of industry. In a completely unexpected move
compared to what most industry experts were thinking last year, internal combustion power trains are making a comeback, and it's happening globally. According to a report from EY, the consulting firm,
half of all the car buyers in the world planned to buy a new or used ice vehicle. Interest in
buying evs has dropped by ten percentage points. Perhaps even
more surprising is that interest in hybrids dropped by five percentage points. Ey blames government policies, trade wars, worries about
EV charging, infrastructure and cost for causing consumers to rethink what their next car should be, and Mark Winterhoff, the CEO of Lucid Motors, seconds that opinion. He says demand
for EV's is clearly decelerating in the US and Europe.
Lucid only expects to make eighteen thousand cars this year.
As we reported yesterday, Morgan Stanley downgraded Tesla stock this week, and it did the same for Lucid and Rivian. Morgan
Stanley says the industry is entering an EV winter that will last all of next year. Meanwhile, vin Fast is
losing dealerships in the US. Two of them have closed
and another will be out of business by the end of the year. Automotive News reports that other dealerships appear
to have stopped selling cars. One vin Fast dealership in
Kentucky just shows an air message when you search for its website. Vin Fast was building an assembly plant in
North Carolina to make electric cars, but that's on hold, and we suspect it's not going to be revived. As
the EV segment cools. Redwood Materials, the battery recycling company
founded by JB. Strabel, who came from Tesla, is rolling
with the punches. It's changing to become a battery materials company,
and it's pivoting from evs to energy storage systems. Demand
for electricity and backup systems is soaring in the US as tech companies are in a mad rush to build data centers that will feed artificial intelligence models. Redwood will
still recycle EV batteries, but it's pulling back on other projects like making cathodes for batteries. Here's our autoline insight.
The EV segment may be wounded, but it will recover, though it's going to take several years. As automakers come
out with more affordable electric cars, and as the charging infrastructure continues to grow, more car buyers will become interested in electrics. I keep hearing the critics say that no
one wants evs. When I ask them how many evs
have been sold in the US this year, they either don't know or have wildly loged. Well, here's the answer.
One point three million. One point three million car buyers
have bought the cars that supposedly nobody wants.
Speaker 2: At CSP, we work with OEM engineers across the country on their journeys to lighter, safer, and more eco friendly vehicles.
Learn more at VCSP dot com.
Speaker 1: Keia took the wraps off the all new Selto's Compact SEV and it gets a fresh look inside and out.
It comes with three powertrain setups at launch, a one point six liter turbocharged gasoline engine that can be mated with a seven speed dual clutch transmission or a six speed manual. A higher output version of that engine is
also available, but it's paired with an eight speed automatic.
And lastly, a two liter gas engine is also available.
A hybrid will be added as a later date. The
new Celtos is also available with a number of new safety and convenience features. Global production of the Celtos begins
this month in India, followed by South Korea, North America, Europe, and China. Throughout twenty twenty six, Satroan revealed a new
concept called the Elo. It's a compact minivan that kind
of reminds us of the Canoe EV. The Elo is
one hundred percent electric, but Stroan didn't share any of its specs. The model is meant to showcase its spacious
and modular interior that can accommodate up to six people.
The driver's seat can be turned around for conversations and can also be transformed into a sleeping space for two people.
You can also have a home cinema room, a power supply, and there's several other uses as well. Goodyear developed the
Smart tires for the model, which can measure pressure and wear in real time that you monitor with an app.
The Elo will make its official debut at the Brussels Auto Show in January. Subaru announced pricing for its new
Uncharted EV, which goes on sale early next year in the US. It starts just under thirty six thousand, five
hundred dollars including destination charges, which is a pretty aggressive price.
It features a seventy four point seven kilowa hour lithium ion battery. The all oyel drive versions of this vehicle
have an estimated two hundred and eighty five miles of range and three hundred and thirty eight horse power. Front
drive models are expected to have more than three hundred miles of range. They get two hundred and twenty one
horse power. It comes standard with a NAX charging port
and can charge its battery from ten to eighty percent and thirty minutes. The uncharted is based on the electric
Toyota CHR and it's built in Japan. Here's a fascinating
factoid from Cox Automotive. Everyone's talking about affordability and how
expensive cars are. We'll get this. Last month, cars and
trucks that cost seventy five thousand dollars or more outsold the ones that cost less than thirty thousand dollars. Vehicles
priced over seventy five thousand dollars captured almost eleven percent market share, those under thirty thousand dollars had seven and a half percent market share. As Cox Automotive points out
that's what people chose to buy, not what's available. Even so,
we'd argue this proves the auto industry has priced the average household out of the American market. And we just
had to close with this item that popped up on our Facebook feed. Check out these writing lawnmowers that looked
like classic Chevrolets from the nineteen fifties. It looked pretty cool.
But here's the thing. Well, you can find pictures and
videos of these things all over the Internet and social media.
We could not find any info about companies that make them or even sell parts to make them. Is this
just an AI scam? Well, we figured there's no better
source to turn to than the Auto Line audience. Anyone
out there got more info let us know now. With that,
we wrap up today's report. Thank you for watching Autoline Daily.
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