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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...
Ford is very proud of its smallest engine, the 1.0-liter three-cylinder EcoBoost. And it decided to bring it stateside in the Fiesta while offering it as the base engine in the EcoSport. Despite its size, it makes respectable power: 123 horsepower and 125 lb-ft of torque. Unfortunately, the engineering brilliance of this little mill has been greatly overshadowed by life-threatening issues. In fact, Ford may be facing a class-action lawsuit over this engine. The lawsuit stems from Louise O’Riordan, who purchased a Ford Focus with the 1.0-liter EcoBoost back in 2014. Even ...
Because of low gas prices, people are trading their small cars for large trucks and SUVs. Back in 2013, the US car market was split between cars and trucks, but trucks have seen a massive boom in popularity. Automotive News reports that through May 2018, trucks outsold cars by two-to-one. Automakers like Ford are changing their strategies, killing off small sedans and hatchbacks to focus on SUVs and mid-size trucks. Many experts predict that truck sales will continue to grow well into the next decade. As trucks become more popular, cars are experiencing their worst sales year in dec...
