Trade News

Pedestrian deaths in the U.S. rose 5 percent in the first half of 2022, averaging 19 fatalities per day, according to an analysis by the Governors Highway Safety Association.

Drivers struck and killed 3,434 people in the first six months of 2022, an increase of 168 deaths from the same period a year earlier, the organization said in a report issued early Tuesday.

2021 already marked a 40-year high in pedestrian deaths.

Pedestrian fatalities have risen 18 percent in the past three years, part of a "heartbreaking" safety crisis, Adam Snider, the association's director of communications, told Automotive News.

"Nineteen people every single day in the first half of 2022 went out for a walk and didn't come home," Snider said.

The report cited an increase in dangerous driving behaviors, such as speeding, and a decrease in traffic enforcement during the pandemic as factors in the recent surge in deaths. Despite a return to traditional travel habits…

Rivian Automotive is looking at rising concerns over its cash burn, executive churn and consumer demand for its pricey adventure vehicles in the run-up to its fourth-quarter earnings report on Tuesday.

The electric vehicle startup is also facing headwinds from a challenging economic climate as the Federal Reserve raises interest rates, increasing the likelihood of a U.S. recession.

The automaker, which was first to launch an EV pickup in late 2021, has fresh competition from the Ford F-150 Lightning and the coming Chevrolet Silverado EV and Tesla Cybertruck.

Its fellow EV startups Tesla Inc. and Lucid Group have resorted to price cuts to incentivize demand, suggesting a more difficult sales climate for luxury EVs.

On the upside, analysts say, Rivian has compelling consumer products with the R1T pickup and R1S crossover. And it has a long-term contract from Amazon to build 100,000 of its electric delivery vans for commercial use.

In announc…

Tesla Inc. has temporarily stopped rolling out its $15,000 driver-assistance system until it addresses issues that led the automaker to recall almost 363,000 vehicles.

The pause affects customers who have opted in for Full Self-Driving Beta — a support feature for drivers who are responsible for operating their car at all times — but have not yet received a software update containing the feature, according to Tesla's website. The support page relates to the recall the company announced earlier this month.

The feature known as FSD Beta may allow Tesla vehicles to exceed speed limits or travel in unlawful or unpredictable ways that increase crash risk, the National Highway Traffic Safety Administration said on Feb. 16. The agency cited examples including traveling straight through an intersection while in a turn-only lane, entering stop sign-controlled intersections without coming to a complete stop, and proceeding into intersections during a steady-yellow traffi…

Chinese electric carmaker Li Auto Inc. expects first-quarter revenue to come in as high as $2.7 billion as a revamped and expanded product lineup helps it win sales from rivals including Tesla Inc.

The Beijing auto manufacturer said revenue for the three months ending March 31 should be between 17.5 billion yuan ($2.5 billion) to 18.5 billion yuan, according to a statement Monday, more than the 16.5 billion yuan compiled by Bloomberg consensus estimates.

Li Auto also reported net income of 265.3 million yuan for the three months ended Dec. 31, falling short of analysts’ estimates of 359 million yuan. Revenue jumped 66 percent to 17.7 billion yuan versus the same period of 2021 as Li Auto’s more expensive L9 crossover pushed up shipments and contributed to higher selling prices. The market was looking for 17.6 billion yuan.

“We successfully executed our growth strategy in 2022, cementing our leadership in the family SUV segment while holistically strength…

SHANGHAI — CATL, the world's largest battery maker, has offered to cut costs for Chinese automakers, a move that demonstrates its market power and could also widen China's cost advantage in electric vehicles.

China's CATL has offered smaller domestic electric-vehicle makers discounted prices on batteries, according to four people with knowledge of the terms.

The discount offers included a clause that shocked the auto industry after a year of rising prices: a built-in assumption that prices of lithium carbonate, a key component in auto batteries, would more than halve, three of the people said.

The move shows CATL's cost advantage from investments in lithium mining and refining, and its determination to knock back the challenge from smaller Chinese rivals such as CALB and EVE Energy which have factories ramping up this year, analysts said.

"It's very much a market share game," said Caspar Rawles, chief data officer at Benchmark Mineral Intell…

Québec-based Uni-Select, Canada’s largest supplier of automotive refinish, industrial paint and more than two million replacement parts in the auto industry, is being purchased by U.S.-based LKQ Corp. for about $2.1 billion (USD) in cash.

Based in Chicago, LKQ supplies aftermarket and recycled parts, focusing mainly on RVs, trucks and off-roading, towing, speed and performance, wheels, tires and performance handling.

Both companies operate in North America and the United Kingdom.

"This acquisition further enhances LKQ's global automotive vehicle parts distribution business," LKQ CEO Dominick Zarcone said in a statement. "Uni-Select's North American automotive refinish paint and mechanical parts distribution operations complement LKQ's existing footprint and will allow us to distribute a broader array of products to our customers.

Uni-Select's FinishMaster division supplies paint and refinishing products to automotive dealership…

The U.S. Department of Energy on Monday said it will lend Li-Cycle Holdings Corp $375 million as it builds a battery recycling facility in New York set to become one of the country's largest sources of lithium by next year.

The loan is the latest move by Washington to spur development of a domestic electric vehicle supply chain, with greater battery recycling capacity seen as crucial to meeting President Joe Biden's goal for half of new U.S. vehicles to be electric by 2030.

"One of the benefits of recycling is it can bring metals to market more confidently than some of the mining companies that take a bit longer to go from the identification of the resource to full production," Jigar Shah, head of the Energy Department's Loan Programs Office, told Reuters.

The loan, which was in review for more than a year, will have a 12-year term and an interest rate matching the 10-year U.S. Treasury rate when funds are issued, expected by July. U.S. Senator Chuck Sch…

General Motors and Tesla are the big winners in the 2022 Automotive Loyalty Awards, with Tesla topping Ford for U.S. brand loyalty for the first time, S&P Global Mobility said Monday.

Despite a three-year industrywide drop in customer loyalty, GM managed to win the "Overall Loyalty to Manufacturer" award for the eighth-straight year. Industrywide shortages have caused customers to shop for other brands, prompting industry average loyalty to drop from 54.6 percent in 2019 to 50.2 percent in 2022.

GM sees a consistent demand for its SUVs and pickups as inventory levels rise, S&P Global Mobility said in a statement.

"The past three years have been a challenge for the automotive industry," Joe LaFeir, S&P Global Mobility president, said in the statement. "As customers are returning back to market post pandemic and inventory levels have slowly improved from last year's lows, retaining loyal customers has been more challenging than ever before." Read more

Valeo forecasts strong sales growth this year, as record 2022 orders helped by demand for car electrification and driving-assistance technology helped it navigate a challenging year for the automotive sector.

The group is targeting sales of between $23 billion and $24 billion this year, against the $21 billion posted for 2022, the company said in a statement.

The 2022 performance was in line with its guidance from October.

Valeo is betting on car electrification and the adoption of advanced driving assistance systems (ADAS), as governments and companies shift towards a low-carbon economy while consumers warm to the idea of automated driving.

The supplier's record business backlog of 32.6 billion euros ($34.4 billion) in 2022 included many orders for EV components and ADAS technology, CEO Christophe Périllat told reporters in a call.

The company's core profit (EBITDA) for 2022 came in at 2.40 billion euros ($2.5 billion), above the 2.34 bill…

TOKYO -- Nissan said it will be able to comply with U.S. local sourcing rules for electric vehicle tax credits starting in 2026 as it consolidates platforms and drivetrains for more competitive EVs.

The automaker will begin offering six EV nameplates in the important U.S. market starting that year.

The lineup will include a next-generation Leaf hatchback and the Ariya crossover, as well as four new models made for the Nissan and Infiniti brands at its Canton, Mississippi, plant.

The latter models, two sedans and two crossovers, will qualify for the full $7,500 EV incentive.

Nissan’s efforts to tap into the tax credits offered under the Inflation Reduction Act will be achieved through compliance with rules on final assembly, content from foreign entities of concern and the localization of battery components and minerals, COO Ashwani Gupta said.

“We as Nissan are confident that we will be complying for IRA with localization starting in CY 20…

The researcher fellow at the Harvard Law School and Breakthrough Institute director examines the effectiveness of the Inflation Reduction Act, urges more focus on electric-vehicle affordability, and foresees a long road ahead for meaningful carbon-reduction efforts.

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