Automotive News Roundup 8/5/2022

Estimated read time 5 min read

Here’s what you need to know about what’s happening in the industry…

Image via Tesla

I haven’t been able to get a post up for a couple of days and have several interesting items I want everyone to be aware of since they could have a huge impact on the automotive industry in the near future. Click on any of the links to get more info from the source for each story and don’t be scared to leave a comment below – I like discussing topics, even if you don’t entirely agree with my take.

1. Tesla Is On A Roll

Last night was the Tesla annual stockholders meeting and it was a pretty wild time. Yet again, many are comparing Musk to Steve Jobs, especially as he came out on stage almost an hour late and wearing black head to toe. Still, he gave quite the presentation, making the automaker’s challenges seem like mere anthills.

One of the more troubling items presented during the meeting, at least for luxury automakers, is Tesla’s forecast that it will build 1.5 million vehicles in 2022. The company also believes at the end of the year it will be building EVs at an annualized rate of 2 million units. To put that into perspective, last year BMW delivered 2,521,179 vehicles to customers. In other words, Tesla is almost on its heels.

2. Bad News For Lucid

While Tesla is surging, Lucid is struggling. The EV startup from California has cut its 2022 production forecast figures in half, blaming supply chain problems. That’s been an issue for even the big brands like Toyota, although they’re not taking a bath like Lucid. Originally, the estimate was 12,000 to 14,000 units built this year, but now it’s looking like 6,000 to 7,000 units. With a claimed 37,000 reservations for the Lucid Air, it’s going to take a while just to get through that list unless something changes.

Read more here.

3. How Deflating

The radical international activist group called the Tyre Extinguishers is at it again. I’ve covered their antics in the past, which involves deflating the tires on SUVs to supposedly fight climate change. They struck again, hitting 34 SUVs in British Columbia, saying “this is just the beginning.”

Read more about it here.

4. The Electricity Is Too Expensive

I wrote before about the rising cost of electricity in Germany and how it could make driving an EV more expensive than internal combustion cars. Even more interesting, a new report from Auto Bild details out how rising gas prices are actually fueling the rise in electricity pricing.

Check out the article here (it’s in German).

5. The Tables Have Turned In The Chip Shortage

Chip makers have turned the tables on automakers, who used to be some of the worst customers, cancelling orders at the last minute, not wanting to be involved in chip development, and in general being difficult. Now automakers are paying for the chips up front, helping with R&D, and paying more for product. How will this developing dynamic affect the auto industry and car prices? That remains to be seen.

Read more here.

6. Brembo Cuts The Brake Lines

Italian automotive brake giant Brembo is incredibly respected in the industry and for good reason. But people are in shock that the company has announced a drive-by-wire system for brakes which promises less complexity in future cars. Not sure how this technology will play out, but it’s an interesting design. Expect to see this hit the market in 2024.

Read more here.

7. The Shocking Truth About EV Tax Credits

The Congressional Budget Office poured some cold water on enthusiasm about electric vehicle sales spurred by the $430 billion climate and energy bill in front of the U.S. Senate. CBO estimates EV tax credits in 2023 will total $85 million or about 11,000 vehicles if all receive the full $7,500 credit. That’s less than what automakers were hoping for, so they’re reportedly not as excited about the bill as before. It’s almost like these omnibus bills are a bad deal for most of the country.

Read more here.

8. Big Brother Is Absolutely Watching You

Real Clear investigations has an eyebrow-raising report about the plan to violate your right to privacy to tax your electric car usage. I’ve warned about this plan repeatedly in the past, so it’s great to see others sounding the alarm. Basically, to track your miles driven, the government just needs to know everywhere you go, so no big deal, right? The argument “if you’re not doing anything wrong, you don’t need to worry” fell apart during the covid lockdowns as arbitrary items were unilaterally declared “illegal” by health officials or executive branch leadership.

Read the Real Clear Investigations report for more details here.

9. So Long, Golf

Multiple media outlets say the Volkswagen Golf isn’t going to see another production generation. The reason? It’s the latest victim of EV development costs, something we’ll be seeing more of as time progresses. Some automakers will try to apply old nameplates to new electric models, but others will decide to bury the past and move on.

10. Swimming With The Dead Fishes

On a lighter note, Tesla has unveiled more amenities at certain Supercharger stations. One of the latest is a pool at a location in Hilden, Germany. You’re supposed to relax and take a dip while waiting for your car’s battery to top off. But, the “pool” looks curiously similar to an industrial dumpster, which is just hilarious.

Check it out for yourself here.

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