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BMW has been showing strong sales numbers over the past year across its range, but electrified vehicles have really taken a jump. According to BMW, compared to the same month last year worldwide electrified vehicle sales have shown an increase of 47.6 percent. This means that 13,806 BMW I, iPerformance and Mini electric vehicles found new homes. It is only a small fraction of the 200,000+ cars BMW sells each month but it is a big improvement, none the less. The situation is changing rapidly though. A member of the board of management at BMW estimated that by 2025 up to 25% of all ca...
The clock is ticking for Tesla buyers in the US to receive the full $7,500 federal tax credit for electric cars. Tesla delivered its 200,000th car this month which means a slow phase-out of the tax credit has begun. Put in place early on in the Obama administration, the tax credit was seen as a tool that could be used to encourage customers to buy plug-in electric or hybrid vehicles. It was meant to offer consumers a bit of a break while the cost of battery technology slowly came down and to encourage manufacturers to push for greater advancements in that technology. Tesl...
Last Friday, the trade war between China and the US kicked off, as US President implemented a 25% tariff on $34 billion worth of Chinese goods. China has already retaliated with an increase in electric car tariffs from 15% to 40%. This means that cars that are imported into China will now be more expensive. According to The Wall Street Journal, Tesla had to raise its prices in China. The Model X now costs $140,000, which is a significant increase over the old $117,100 price. The Model S now costs $128,400, an increase of about $21,000 compared to the old price. Elon Musk, Tesla CEO,...
If you think that electric-vehicle startups like Tesla would push mainstream automakers out of the EV game, think again. In fact, General Motors has had such strong demand for the Chevy Bolt that it had to increase production. In its financial reports for the first half of this year, GM confirmed that it’s ramping up production of the electric hatchback by 20 percent thanks to strong demand in the US, Canada, and South Korea. Global sales of the Bolt have been up more than 40 percent from January through June of this year. Chevy sold 7,858 units of the Bolt just in the US so f...
BMW has warned that it may be forced to reduce investment and slash its workforce at its Spartanburg, South Carolina, production facility if President Trump succeeds in imposing a 20 percent tariff on imported EU-built vehicles. This plant happens to be BMW’s largest in the world and ships more than 70 percent of its annual production output to other countries. But how can US tariffs on imports affect Spartanburg? Because other countries, such as China, have threatened to retaliate against the US imposed tariffs on their goods with tariffs of their own. China being one of Spar...
