Latest news with #ZeroEmissionVehicle
Yahoo
28-05-2025
- Automotive
- Yahoo
Declining EV interest, pricing concerns may limit near-term growth for Rivian: UBS
-- UBS analysts cautioned that Rivian Automotive (NASDAQ:RIVN) may face headwinds in the near term, citing findings from their 2025 UBS Evidence Lab Global EV survey. According to UBS, 'declining EV interest and affordability concerns may limit near-term growth' for the electric vehicle maker. While Rivian's brand awareness in the U.S. has improved slightly, from 10% in 2024 to 13% this year, consumer consideration is said to remain low. 'Only ~5% of BEV owners/buyers indicated they would consider purchasing a RIVN (up from 4.5% last year),' UBS said. For comparison, UBS estimates Rivian's estimated 2024 U.S. BEV market share, excluding vans, was around 3%. The survey also found that while many consumers still seek more EV alternatives, interest in EVs overall has declined. 'Given potential pushout of EPA requirements and repeal of the California waiver, the EV inflection may be further out than expected,' UBS warned, noting that removing the California waiver could also impact Rivian's ability to generate and sell Zero Emission Vehicle (ZEV) credits. Affordability also remains a key barrier, according to the bank. 'Only ~35% of respondents believed EVs are affordable vs. ICE vehicles,' UBS noted. Rivian's current models—the R1S SUV and R1T pickup—start at $75,900 and $69,900, respectively, well above the $47,900 average price for a U.S. vehicle. UBS also flagged risk around the possible elimination of consumer clean vehicle tax credits, which they estimate supported around 59% of Rivian's 2024 vehicle leases. 'Near-term, especially if U.S. policies move away from an EV world, continued cost out of the R1 and increased manufacturing efficiencies are key,' UBS said. UBS maintains a Neutral rating on Rivian, seeing longer-term potential but a tougher near-term landscape. Related articles Declining EV interest, pricing concerns may limit near-term growth for Rivian: UBS Southwest Airlines raised at Jefferies after management meetings Qualcomm-backed study finds Apple's in-house modem falls short in 5G tests Sign in to access your portfolio
Yahoo
21-05-2025
- Automotive
- Yahoo
Used car retail values resilient despite minor dip, says PVI
Retail values for 3–4-year-old cars have seen only a modest decline despite increasing supply, as the UK's used car market remains resilient, according to the latest data from Percayso Vehicle Intelligence (PVI). The analysis shows that retail values for popular 3–4-year-old models with fewer than 75,000 miles dropped by just 1.5% year to date, which PVI attributes to sustained supply constraints stemming from the COVID-19 pandemic. Stock levels in this age bracket have been rising since March, but values remain underpinned by limited availability. 'There are approximately three million fewer used cars in circulation than we would typically expect,' said Derren Martin, senior market analyst at PVI. 'This fundamental supply constraint continues to support values.' Retail valuations rose in January and February, with February recording the strongest gains. Values dipped slightly in March and fell by a further 1.6% in April, contributing to the overall YTD decline. Martin described this as a 'minor adjustment' that reflects a 'very robust market'. Late-plate vehicles (2024–2025 registrations) have also shown firm performance, with values up 2% YTD. Martin said this segment has faced less downward pressure from pre-registered stock and benefited from the easing of Zero Emission Vehicle (ZEV) mandate targets. 'Values are holding up well, with only a negligible softening observed in April,' he noted. Hybrid vehicles continue to outperform the broader market. Retail and trade values for hybrids – including plug-in models – have increased by nearly 4% YTD, supported by steady volumes and strong consumer interest early in the year. 'Hybrids are proving to be the sweet spot for many consumers,' Martin said, noting that they appeal to drivers not yet ready to switch fully to battery electric vehicles (BEVs). Electric vehicles remain the most volatile segment. While advertised volumes are rising, values have fluctuated. Martin said valuation trends in the EV sector are difficult to summarise, with some models offering value compared to internal combustion engine counterparts, while others still appear overpriced. 'Consumer demand for used EVs is not yet keeping pace with the growing supply,' he said. PVI's analysis concludes that while overall values have softened slightly, the used car market continues to be shaped by post-pandemic supply issues and divergent trends across powertrains. 'The differing fortunes of EVs and hybrids, set against a backdrop of constrained supply for younger used cars, will continue to shape the market in the coming months,' Martin said. "Used car retail values resilient despite minor dip, says PVI" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Automotive
- Yahoo
Honda slashes £15bn from electric car budget to focus on hybrids
Honda is scaling back investment in electric vehicles (EVs) by a third as a consequence of lacklustre demand. The Japanese car giant said on Tuesday it would cut investment in EVs from a planned 10 trillion yen (£51.7bn) by 2030 to 7 trillion yen (£36.2bn). The company is to focus on hybrids instead. It now expects electric cars to represent 20pc of sales by the end of the decade, compared to a previous forecast of 30pc. Bosses blamed disappointing demand and moves by foreign governments to roll back green regulations designed to encourage EV purchases, such as those recently announced by the US and UK. Toshihiro Mibe, Honda's chief executive, said: 'Based on the current market slowdown, we expect EV sales in 2030 to fall below the 30pc that we previously targeted. 'EV investment hasn't been abandoned, just pushed back.' Honda said it will pivot towards boosting sales of hybrid vehicles – as it reduces focus on electric cars. Only in China, where EVs now dominate new car sales, will it focus on purely electric models. Sir Keir Starmer's Government amended green rules, known as the Zero Emission Vehicle (ZEV) mandate, earlier this year to provide greater flexibility for car manufacturers on targets for electric vehicle sales. Meanwhile, US president Donald Trump's 'big, beautiful bill' passing through Congress aims to remove tax credits for EV buyers over the next few years. Honda now expects to sell 2.2m to 2.3m hybrids by 2030, out of a total of 3.6m cars. By comparison, Honda's forecasts suggest it expects electric sales to total just 700,000 to 750,000 cars. Honda said it will launch 13 new hybrid models in the four years from 2027. Despite the changes, Honda has insisted that it continues to work towards the goal of all cars it sells being either electric or fuel-cell powered by 2040. The company last week warned it faced a huge hit to profits from President Trump's trade tariffs on cars imported to the US. Some 60pc of Honda's US-sold cars are made in the country, but the president's tariffs have made it much more expensive for Japanese manufacturers to import cars or parts from Canada and Mexico. Amid the trade chaos, Honda has paused plans for a C$15bn (£8bn) EV production hub in Ontario, Canada. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scottish Sun
23-04-2025
- Automotive
- Scottish Sun
Iconic car brand's boss sparks fears over future of huge UK factory as he slams huge ‘costs of everything'
It comes after the car giant faced slumping sales and fears surrounding its future in the UK HIT THE BRAKES Iconic car brand's boss sparks fears over future of huge UK factory as he slams huge 'costs of everything' Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A TOP boss of an iconic car brand has slammed Britain as "not a competitive place" to build motors. Alan Johnson blasted soaring costs and highlighted that his firm's Sunderland plant forks out more for electricity than any of their other ones. 7 A top boss has slammed Britain as 'not a competitive place' to build motors Credit: Supplied 7 The Sunderland plant faces high electricity costs Credit: Getty 7 Soaring prices have led caused the top boss to slam UK car production Credit: Getty The Nissan official told MPs that the car giant's high UK costs trump those in factories as far as India, the Middle East and Africa. Speaking to the Business and Trade Committee, the senior vice president for manufacturing at Nissan warned that the UK car industry was on the back foot. He said: "It is energy costs, it is the cost of everything involved in the cost of labour, training. "It is the supplier base or lack of. All sorts of different issues." The top boss added: "Ultimately, the UK is not a competitive place to be building cars today." It comes after an ex-boss of the iconic car brand said it would be "mad" to close down its huge UK factory. The Sunderland site - one of Britain's biggest car factories - employs around 6,000 workers. But back in February, the plant scrapped a late shift on one of its production lines. Around 400 staff were affected, but no jobs were axed — with workers shifted to other lines in a bid to "maximise efficiency". Nissan's gloomy future The Japanese manufacturer revealed last year it would cut 9,000 jobs globally, after profits plummeted by a whopping £1.59billion in just six months. Despite the grim outlook, Johnson praised moves to boost electric vehicle sales in the UK. He also welcomed Labour's move to ease up on strict Zero Emission Vehicle targets, which carmakers had warned could throttle production. The Nissan boss also reassured MPs that Donald Trump's tariffs only had a "small" impact on the plant. He did however say that the company as a whole had been "impacted significantly" due to The Don's new rules. Exports from the UK to the US now face a 10% tariff, with a hefty special rate of 25% slapped on cars, steel and aluminium. 7 Nissan's Sunderland plant faces higher costs and soaring prices Credit: Reuters 7 The Sunderland plant is one of the UK's biggest car manufacturers Credit: Alamy However, England's North East could avoid the worst consequences of the tariffs. A North East Combined Authority meeting last week heard that just 6 per cent of the region's car exports go to the States. This compares to a third of them going worldwide - meaning the Sunderland plant is "less exposed" than other regions in the UK. It comes after brewing fears over the future of the Sunderland plant after discussions over a merger with Honda collapsed. Plans were in the works for the two car giants to use each other's plants to build vehicles and create manufacturing capabilities that would rival Tesla. 7 It comes after recent fears for the car giant's future in the UK Credit: Getty
The Irish Sun
23-04-2025
- Automotive
- The Irish Sun
Iconic car brand's boss sparks fears over future of huge UK factory as he slams huge ‘costs of everything'
A TOP boss of an iconic car brand has slammed Britain as "not a competitive place" to build motors. Alan Johnson blasted soaring costs and highlighted that his firm's Sunderland plant forks out more for electricity than any of their other ones. Advertisement 7 A top boss has slammed Britain as 'not a competitive place' to build motors Credit: Supplied 7 The Sunderland plant faces high electricity costs Credit: Getty 7 Soaring prices have led caused the top boss to slam UK car production Credit: Getty The Speaking to the Business and Trade Committee, the senior vice president for manufacturing at Nissan warned that the UK car industry was on the back foot. He said: "It is energy costs, it is the cost of everything involved in the cost of labour, training. "It is the supplier base or lack of. All sorts of different issues." Advertisement READ MORE MOTOR NEWS The top boss added: "Ultimately, the UK is not a competitive place to be building cars today." It comes after an ex-boss of the iconic car brand said it would be " The Sunderland But back in February, the plant scrapped a late shift on one of its production lines. Advertisement Most read in Motors Around 400 staff were affected, but no jobs were axed — with workers shifted to other lines in a bid to "maximise efficiency". Nissan's gloomy future The Japanese manufacturer revealed last year it would cut 9,000 jobs globally, after profits plummeted by a whopping £1.59billion in just six months. Despite the grim outlook, Johnson praised moves to boost He also welcomed Labour's move to ease up on strict Zero Emission Vehicle targets, which carmakers had warned could throttle production. Advertisement The Nissan boss also reassured MPs that Donald Trump's tariffs only had a "small" impact on the plant. He did however say that the company as a whole had been "impacted significantly" due to The Don's new rules. Exports from the UK to the US now face a 10% tariff, with a hefty special rate of 25% slapped on cars, steel and aluminium. 7 Nissan's Sunderland plant faces higher costs and soaring prices Credit: Reuters Advertisement 7 The Sunderland plant is one of the UK's biggest car manufacturers Credit: Alamy However, England's North East could avoid the worst consequences of the tariffs. A North East Combined Authority meeting last week heard that just 6 per cent of the region's car exports go to the States. This compares to a third of them going worldwide - meaning the Sunderland plant is "less exposed" than other regions in the UK. Advertisement It comes after brewing fears over the future of the Sunderland plant after discussions over a Plans were in the works for the two car giants to use each other's plants to build vehicles and create manufacturing capabilities that would rival Tesla. 7 It comes after recent fears for the car giant's future in the UK Credit: Getty 7 The brand as a whole has taken a hit since Donald Trump's imposed tariffs Credit: Getty Advertisement
