Tag Archives: quarter

News

Polestar 3 is first blank-sheet design by Chinese-Swedish firm

The upcoming Polestar 3 is set to debut in the second quarter of next year as the company’s inaugural SUV model, boasting a sleek design, luxurious features, and cutting-edge technology.

With a maximum power output of 510bhp in its twin-motor configuration, the vehicle incorporates advanced safety technologies and utilizes sustainable materials, aligning with the company’s commitment to creating a more relevant and environmentally responsible SUV.

The Polestar 3 made its first appearance in the UK at Salon Privé earlier this year, showcasing the Long Range Dual Motor variant finished in ‘Snow’ white paint and equipped with 22-inch four-spoke forged alloys.

Positioned as a direct competitor to the BMW iX and Jaguar I-Pace, the Polestar 3 follows the Volvo spin-off brand’s Polestar 2 electric saloon as the second model in its series production.

Built on the advanced new SPA2 platform, the Polestar 3 shares many of the same underlying technologies and systems with the upcoming Volvo EX90, effectively creating a close relationship between the two models. Unlike the Polestar 1 and 2, which were based on Volvo concept cars, the Polestar 3 is the first vehicle to be designed from the outset as a Polestar.

Despite being a large SUV, the Polestar 3 emphasizes aerodynamic efficiency with its sleek silhouette and various aero-channeling additions.

Drawing inspiration from the Polestar Precept concept, the vehicle features dual-blade headlights, a rear spoiler with an integrated wing, and a front aero wing, below which is a ‘Smartzone’ panel containing various sensors. Polestar CEO Thomas Ingenlath has highlighted these elements as defining characteristics of the brand.

In line with Polestar’s performance-oriented approach, the Polestar 3 will be launched with a rear-biased dual-motor powertrain, delivering 483bhp and 618lb ft of torque in standard form. This power enables the 2584kg-plus SUV to accelerate from 0-62mph in 5.0 seconds and reach a top speed of 130mph.

An optional Performance Pack offers an additional 27bhp and 51lb ft, reducing the 0-62mph sprint time by 0.3 seconds.

Motorsport

Yet Another Electric Ford Crossover Spied, Looks Ready For Production

Ford’s electric vehicle division faced a $1.3 billion operating loss in the third quarter, translating to a loss of around $36,000 for every electric vehicle sold during that period. A significant portion of this loss is due to ongoing investments in next-generation EVs. Recent evidence confirms that the Blue Oval manufacturer is actively developing new electric products. The gallery below showcases a new electric crossover from Ford, set to debut next year.

A few days ago, our spies provided photos of an upcoming zero-emissions SUV from Ford, based on Volkswagen’s MEB platform. The newly captured prototype hints at a smaller electric crossover, which will join the Puma family. Previously, the Puma served as Ford’s entry-level product in the European market after the discontinuation of the Fiesta hatchback. The new electric crossover is expected to follow suit.


News

Used electric car sales double as supply improves

Second-hand electric car sales doubled in the third quarter of 2023 to give them a record market share, as the overall used market grew for the third quarter in a row.

In the three months from July to September, the share of electric cars on the used market rose from 1.0% to 1.8% year on year, with total volumes increasing by 99.9% to 34,021 units. This record market share, according to the Society of Motor Manufacturers and Traders (SMMT), was a result of an increase in supply, aided by an easing of the semiconductor shortage, which has boosted sales of new cars and, in turn, fed the second-hand market.

The used market as a whole grew by 5.5% during the third quarter, with 51,893 more transactions than in the previous quarter, taking the total to 1,884,160 – the highest figure since the pandemic.

The increase in second-hand electric car sales follows a decrease in prices leading up to August, with values dropping on average by 44%.

In September, however, values for less expensive models, such as the Renault Zoe and BMW i3, seemed to stabilize, with a decrease of only 1%, although prices for more expensive models continued to decline in October. For instance, values for the Mercedes EQC and Kia EV6 dropped by 5.9% and 5.1% respectively.

SMMT CEO Mike Hawes stated: “The used car market continues to grow strongly, with re-energised supply unlocking demand for pre-owned electric vehicles – the result being twice as many motorists switching to zero-emission motoring in the quarter.

“Maintaining this momentum requires growth in the new car market, to boost supply to the used sector and cement this success. Equally important is the urgent need for charging infrastructure roll-out so that all drivers can have confidence in being able to charge whenever and wherever they need.”

Alongside the twofold increase in electric car demand, the sale of used petrol and diesel cars also grew, by 4.0% to 1,065,448 and 2.3% to 704,204 units respectively, while plug-in hybrid used sales increased by 34.6% and hybrids by 46.4%.

This coincides with yet another quarterly uptick in the sale of used superminis, wherein the Ford Fiesta remained as the UK’s best-selling second-hand car during the third quarter, with 79,756 sold. It was followed by the Vauxhall Corsa (61,290 sales) and Volkswagen Golf (58,298).

A total of 607,484 superminis changed hands, a 5.8% rise on the same period last year, with crossovers and ‘dual-purpose’ vans and SUVs becoming the next most popular category, making up 14.9% of the market. Sports and luxury saloons were the only segments to experience declines, falling 1.8% and 2.5% respectively.

Motorsport

Ferrari Sells More Hybrid Cars Than Gasoline Cars in Q3 2023

In the third quarter of 2023, Ferrari achieved a significant milestone by selling more hybrid cars than gasoline cars. This surprising information was revealed in an official document presented to investors, providing an overview of Ferrari’s performance from July to September. During this period, Ferrari delivered a total of 3,188 cars, which is an increase of 271 cars compared to the same period in 2022.

Out of the total volume, 51.3 percent of cars sold were hybrids, while only 48.7 percent were pure gasoline cars. In its product portfolio for Q3 2023, Ferrari offered nine models with internal combustion engines (ICEs) and four hybrid models. It’s worth mentioning that Ferrari’s first all-electric model is expected to be available in 2025. However, in the third quarter, the demand was mainly driven by the 296 and SF90 lineups, which both feature plug-in hybrid powertrains. These are Ferrari’s first plug-in hybrid electric vehicles (PHEVs), unlike the LaFerrari, which did not have a charging port. Nonetheless, the LaFerrari’s main battery could still be charged using a battery tender.


News

10 Reasons Why The Chevy Blazer EV Is Special

Summary

  • By the first quarter of 2024, Chevy will launch all trims of the Blazer EV, offering a spacious interior and highly energy-efficient battery at a competitive price.
  • The top-of-the-line Blazer EV SS boasts 557 horsepower, accelerates from 0 to 60 mph in under four seconds, and has a top speed of 130 mph.
  • The Blazer EV offers impressive range options, up to 320 miles on a single charge, and comes with a spacious cabin, striking sporty design, and advanced infotainment system.

By the first quarter of 2024, Chevy will be launching all the trims of the Blazer EV. There will be four different trims which, listed from the lowest to highest in terms of price and available features, are the 1LT, 2LT, RS, and SS. With this release, Chevrolet isn’t just taking the Blazer moniker to the electric future, but has also crafted the finest Blazer ever made, enhancing both the technology and interior design considerably.

In this way, with these models, Chevrolet aims to directly compete in the world of SUVs because their offerings can truly stand their ground. When you make a purchase, regardless of the trim, you’ll receive an SUV with a spacious interior and a highly energy-efficient battery that, simultaneously, delivers impressive eco-friendly power, and all of this at a competitive price.

Specifications, data, and information related to the cars on this list have been sourced from Chevrolet, fueleconomy.gov, Car and Driver, JD Power, and other well-known resources and publications.

Related: How The Chevy Blazer EV Has Put All Compact Electric SUVs On Notice

1 The Blazer EV Offers Up To 557 Horses

Red 2024 Chevrolet Blazer EV driving
Chevrolet

Complete information about all the trims of the Chevy Blazer EV is not available yet since they are still in the launch phase. According to the official information provided by Chevrolet, the top-of-the-line version, the Chevrolet Blazer EV SS, boasts 557 horsepower and a torque of 648 pound-feet, allowing it to accelerate from 0 to 60 mph in less than four seconds! This impressive performance is achieved thanks to its two electric motors, enabling it to reach a top speed of 130 mph. Unfortunately, there is currently no information available regarding the performance of the rest of the models.

2024 Chevrolet Blazer EV SS Specs

Horsepower

Up to 557 HP

Torque

Up to 648 lb-ft

Drivetrain

RWD and AWD

0-60 mph

3.8 seconds

Top speed

130 mph

Range

Up to 320 miles

(Specs sourced from Chevy)

Regarding the other trims, it is known that the 1LT, 2LT, and RS models come with front-wheel drive as the standard configuration. Additionally, all-wheel drive is available as an option for both the 2LT and RS models, and the RS model will also be offered in a rear-wheel-drive configuration.

2 Offers An Impressive 320-mile Driving Range

Red 2024 Chevrolet Blazer EV
Chevrolet 

The 2024 Chevy Blazer EV is expected to offer two battery packs: an 85 kWh and a 105 kWh option. With the smaller 85 kWh battery, the 1LT model achieves an estimated range of 247 miles on a single charge. The 2LT, also equipped with an 85 kWh battery, depending on the chosen drivetrain (FWD or AWD), can reach a maximum range of 293 miles.

As for the RS model, there is certain flexibility as it is possible to select either the smaller or larger battery, as well as your desired drivetrain. When considering the available options, it’s possible to achieve a maximum range of 279-, 293-, or even reach an impressive range of up to 320 miles on a single charge. Finally, the SS model comes with the larger 105 kWh battery, which provides a respectable range of 290 miles.

Related: 10 Hybrid Alternatives To The Chevy Blazer EV

3 No Dearth Of Creature Comforts Inside The Cabin

2024 Chevrolet Blazer EV Interior featuring dashboard, console, and steering wheel
Chevrolet

The stylish and sporty Chevrolet Blazer EV showcases an appealing design both inside and out. Entering the Blazer EV, the interior offers an inviting panoramic sunroof, premium material choices, and a range of color options, and it instantly envelops you in a spacious interior, which is quite remarkable for a two-row SUV.

Needless to say, the five-seater Blazer EV places a strong emphasis on passenger comfort. In addition to its two spacious rows of seating, it offers heated and ventilated front seats, heated rear seats, and generous interior lighting. As a result, you and your fellow passengers will have plenty of room to relax and enjoy the journey.

4 It Boasts A Striking Sporty Design

2024 Chevrolet Blazer EV in radiant red coat
Chevrolet

This vehicle was designed in a wind tunnel to maximize aerodynamics so as to get the ultimate range from the EV powertrain. It features a beautiful sporty look that commands respect as it passes by; it really looks like you can tear up the track! Notable exterior features include a front grille with sleek LED lighting, an illuminated front light bar, and an animated bowtie. When it cruises down the street, it exudes a strong and broad presence, complemented by a selection of wheel options ranging from 19 to 22 inches. Needless to say, it looks great in any of the available color choices.

Related: 2024 Chevrolet Blazer EV: Everything We Know So Far

5 It Is Equipped With A 17.7-inch Diagonal Display Screen

2024 Chevrolet Blazer EV interior
Chevrolet

The Blazer EV comes with a large 17.7-inch infotainment screen centrally placed on the dash and surrounded by physical controls for the climate system and a volume knob on the left and bottom. This will allow the driver to access Apple CarPlay, Android Auto, and all the necessary vehicle information. Furthermore, there’s a secondary 11.0-inch display for the driver’s gauges and driving information. In order to make the driver’s experience even more convenient, the Chevy Blazer EV also comes with a Hands-Free Smart System and wireless phone charging.

6 The Blazer EV Comes With A Spacious Cabin

Chevrolet Blazer EV Seats
Chevrolet 

When purchasing an SUV, one of the first things to evaluate is the interior space. When it comes to the Blazer EV, it can comfortably seat five people. While the cargo space behind the second-row seats is 30.5 cubic feet, the cargo space behind the front seats is 64.2 cubic feet. This is made possible due to the flat floor, which provides ample legroom for passengers in both the front and rear seats.

As evident from the dimensions, the Chevy Blazer EV provides ample space, ensuring comfortable travel for all passengers and, at the same time, offering the capacity to easily transport gear and groceries.

Related: Comparison: Kia EV6 vs Chevy Blazer EV

7 It Can Add About 78 Miles Of Range In 10 Minutes

Red 2024 Chevrolet Blazer EV charging port
Chevrolet

The Chevrolet Blazer EV offers AC charging, which includes two options: Level 1, 120-volt charger that allows you to conveniently charge the vehicle at home, and Level 2, 240-volt charger that enables charging at public charging stations. Additionally, the myChevrolet app includes a public charging locator feature that helps you find the nearest public charger. Furthermore, this electric SUV supports DC fast charging at 190 kW, which can add 78 miles of range in just 10 minutes. This means you can fully recharge the battery in approximately 40 minutes!

In addition to this, when enabled, the Blazer EV offers features like Regen on Demand and One Pedal Driving, which help convert the vehicle’s kinetic energy into energy stored in the battery for later use, ultimately maximizing the vehicle’s range. A feature to consider in the realm of electric vehicles!

8 The Chevy Blazer EV Starts At $45,000

2024 Chevy Blazer EV exterior
Chevrolet

The entry-level version of the Chevy Blazer EV, which offers a range of 247 miles, won’t be coming anytime soon. For all we know, it might have been discarded from the lineup altogether Moving up to the 2LT, it has a starting price of $56,715 and will serve as the entry-level trim. You get a significant boost in range, now up to 293 miles, and the option to add an all-wheel drive system to the package. The RS trim, available at $60,215, begins to introduce premium features to the Blazer EV’s interior, being the first trim level to offer standard heated and ventilated seats.

Additionally, the range increases to an impressive 320 miles. Finally, the SS, priced at $65,995, comes equipped with a heated steering wheel and seats, and it’s capable of accelerating from 0 to 60 mph in less than 4 seconds.

Related: Comparison: Chevy Blazer EV SS Performance vs Ford Mustang Mach-E GT Performance Edition

9 The Chevrolet Safety And Driving Assist Comes As Standard

Red 2024 Chevrolet Blazer EV
Chevrolet

Here are some of the prominent safety and driving assistance features that all trims of the Chevrolet Blazer EV offer:

  • Forward Collision Alert and Automatic Emergency Braking: This feature can alert you when it detects a potential front-end collision with a vehicle you’re following. It can also issue a tailgating alert if you’re following a detected vehicle too closely.
  • Front Pedestrian Braking: At speeds below 50 mph during the daytime, this system provides pedestrian alerts and can even automatically engage in hard emergency braking or enhance the driver’s hard braking. Note that its performance may be limited at night due to reduced visibility.
  • Lane Keep Assist with Lane Departure Warning: This system gently turns the steering wheel briefly to alert you when it detects that you might be unintentionally drifting out of detected lane lines, helping you stay safely within your lane.
  • Following Distance Indicator: This feature can display the gap time in seconds between your vehicle and a detected vehicle you’re following, helping you determine if you’re following too closely.

In addition to these features, the Blazer EV also includes other safety components such as rear-vision cameras, rear cross-traffic alert, rear park assist, and various types of airbags, including front-impact, side-impact, overhead, and knee airbags.

10 Here’s How The Blazer EV Stacks Up Against The Competition

Chevrolet SS badge
Chevrolet

Here are the primary competitors, both in terms of price and performance, for the Chevy Blazer EV:

Chevy Blazer EV SS vs. Competition

2024 Chevrolet Blazer EV SS

2023 Hyundai Ioniq 5 Limited

2023 Ford Mustang Mach-E GT Performance Edition

Kia EV6 GT AWD

Horsepower

557 HP

320 HP

480 HP

576 HP

Torque

648 lb-ft

446 lb-ft

634 lb-ft

545 lb-ft

Drivetrain

RWD and AWD

RWD and AWD

eAWD

eAWD

0-60 mph

3.8 seconds

4.5 seconds

3.5 seconds

3.2 seconds

Top speed

130 mph

115 mph

124 mph

116 mph

Range

320 miles

303 miles

312 miles

206 miles

(Specs sourced from respective automakers)

It’s evident that the Chevy Blazer EV is the model that offers both the highest range and the highest top speed. On the other hand, the Kia EV6 achieves 0-60 mph in a quicker time and boasts more horsepower. When it comes to purchasing any of these models, excluding the Chevy Blazer, you’ll typically spend between $55,000 and $60,000. The Blazer will actually cost less in most states or in most cases if you’re eligible for the federal tax credits, which means the base model can cost you under $50,000 effectively.

BMW

On observe for stable progress in 2023: Dynamic BEV progress and international gross sales improve Q3

Munich. The BMW Group offered 93,931 fully-electric BMW and MINI automobiles within the third quarter – a rise of +79.6% in comparison with the identical interval of final 12 months. The BMW model as soon as once more doubled its third-quarter deliveries of fully-electric automobiles from the identical interval of final 12 months (+100.3%). The firm was thus in a position to translate buyer curiosity in its fully-electric merchandise into dynamic progress.

 

“The sales success of the third quarter shows that our customers appreciate our wide range of attractive products across all drive technologies. Our fully-electric products, in particular, are benefiting from high demand worldwide – as seen in our BEV sales, which significantly outperformed the total BEV market in the first nine months,” stated Pieter Nota, Member of the Board of Management of BMW AG liable for Customer, Brands, Sales. “Overall, we are on track to meet our growth targets for 2023,” Nota continued.

The BMW Group delivered a complete of 621,699 BMW, MINI and Rolls-Royce automobiles to clients within the third quarter. This represents a year-on-year progress of +5.8%. In the third quarter, the corporate continued to construct on its sturdy aggressive place in key core markets. Between January and September, BMW Group gross sales climbed to 1,836,563 items (+5.1%).

As beforehand introduced in August, the corporate expects to see stable progress in deliveries for the total 12 months 2023 (beforehand, slight progress). Growth drivers embrace fashions from the higher value section, in addition to fully-electric automobiles – with BEVs projected to account for 15% of complete car gross sales in 2023.

 

BMW model stays primary in international premium section

 

In the third quarter, the BMW model delivered 549,941 automobiles to clients worldwide – a rise of +6.2% in comparison with the identical interval of the earlier 12 months. Thanks to its engaging line-up, the model is benefiting from excessive demand and stays primary within the international premium section.

The BMW model is reporting notably sturdy demand for its fully-electric automobiles; within the third quarter, BEV deliveries as soon as once more doubled from the identical interval of final 12 months (+100.3%) to 83,211 items. Between January and September, 217,138 fully-electric BMW automobiles have been delivered to clients.

The BMW 4 Series fashions and, specifically, the fully-electric BMW i4*, are proving particularly common, whereas the BMW iX1* and X1 are additionally extremely sought-after. Models from the higher value section, just like the 7 Series, the up to date BMW X7, and the BMW X5 and BMW X6 fashions, are additionally driving gross sales progress.

In addition, the corporate is receiving very optimistic buyer suggestions on the brand new BMW 5 Series vary and, particularly, the fully-electric BMW i5*. “With the launch of the new BMW i5, we will have another attractive fully-electric vehicle in the market that will further accelerate the ramp-up of electromobility. New orders already reflect our customers’ high level of enthusiasm for this new model,” defined Nota. With the launch of the BMW i5, the BMW Group could have a fully-electric possibility in all its core segments.

BMW M success story continues in third quarter

 

With 48,978 items offered worldwide within the third quarter – a year-on-year improve of +13.2% – BMW M as soon as once more demonstrated its energy within the worthwhile high-performance and efficiency segments. Sales have been additionally boosted by the introduction of the brand new BMW XM*, simply six months in the past. Following the beginning of manufacturing in July, the BMW i7 M70* and i5 M60* fashions are the most recent members of the M household, combining fully-electrified M Power with the best stage of magnificence, luxurious and luxury. M GmbH due to this fact feels assured concerning the last quarter of 2023 and is on observe for an additional file 12 months.

 

MINI releases new fashions on the highway to all-electric mannequin line-up

 

The MINI model delivered 70,384 (+2.6%) automobiles to clients worldwide within the third quarter. The newest MINI restricted editions – the MINI John Cooper Works 1to6 Edition and the MINI Clubman Final Edition – each with unique design and tools options, contribute to the sturdy reputation of MINI model automobiles. Between July and September, MINI offered 10,720 fully-electric MINI Cooper SE* and MINI Cooper SE Convertibles (-0.4%). With the lately launched new electrical MINI Cooper and the upcoming launch of the electrical MINI Countryman in 2024, the MINI model continues to forge forward on its highway to an all-electric mannequin line-up.

Rolls-Royce prepares for preliminary buyer deliveries of Spectre

Rolls-Royce Motor Cars offered 1,374 automobiles within the third quarter (-9,0%). This was according to expectations, on condition that manufacturing of Dawn and Wraith was discontinued within the second quarter and the model’s manufacturing services in Goodwood are gearing up for preliminary buyer deliveries of the Rolls-Royce Spectre within the coming weeks. Interest within the fully-electric tremendous coupé stays exceptionally excessive and order books are already full till 2025. Rolls-Royce continues to ship Coachbuild and Bespoke creations and demand for Phantom, Ghost, Cullinan and Black Badge fashions stays sturdy. With a sturdy order ebook and 4,555 automobiles (-3.1%) offered because the begin of the 12 months, the corporate is approaching the year-end with confidence.

BMW Motorrad: Third-quarter gross sales affirm continued excessive buyer demand

BMW Motorrad delivered a complete of 52,037 (+0.5%) bikes and scooters to clients between July and September of its 2023 centenary 12 months. Building on the earlier all-time gross sales excessive it posted for the primary half-year, sturdy buyer demand for BMW Group bikes and scooters continued within the third quarter. The extremely engaging product vary, with the profitable market launch of revolutionary new fashions, just like the fascinating Power Roadster M 1000 R, lays the muse of BMW Motorrad’s success. With the upcoming market launch of the brand new R 1300 GS, BMW Motorrad could have its most vital product spotlight of the 12 months in showrooms by the tip of the fourth quarter. As the world’s most profitable premium motorbike, the redesigned Boxer GS will give BMW Motorrad gross sales a significant increase.

BMW & MINI gross sales within the areas/markets

 

In China, the BMW Group offered 210,331 BMW and MINI automobiles within the third quarter (-1.8%).

In the US, 91,849 BMW and MINI automobiles have been delivered to clients between July and September of this 12 months. This represents a rise of +7.8%.

In Europe, gross sales of BMW and MINI automobiles totalled 221,496 items for the third quarter (+12.9%).

In Germany, 70,901 BMW and MINI automobiles have been registered throughout this era.

BMW Group gross sales in Q3/YTD September 2023 at a look

 

 

third Quarter 2023

Compared with earlier 12 months %

YTD

September 2023

Compared with earlier 12 months %

BMW Group Automotive

621,699

+5.8%

1,836,563

+5.1%

BMW

549,941

+6.2%

1,621,267

+5.7%

– BMW M GmbH

48,978

+13,2%

143.665

+15.4%

MINI

70,384

+2.6%

210,741

+0.7%

BMW Group electrified1

139,943

+41.6%

385,411

+36.1%

BMW Group BEV

93,931

+79.6%

246,867

+92.6%

Rolls-Royce

1,374

-9.0%

4,555

-3.1%

BMW Motorrad

52,037

+0,5%

164,908

+3,5%

1BEVs and PHEVs

BMW & MINI gross sales within the areas/markets

 

third Quarter 2023

Compared with earlier 12 months %

YTD

September 2023

Compared with earlier 12 months %

Europe

221,496

+12.9%

670,119

+6.4%

Germany2

70,901

+17.9%

205,775 

+11.4%

Asia

271,561

-0.8%

783,189

+2.0%

China

210,331

-1.8%

602,911

+1.7%

Americas

113,407

+8.9%

338,093

+9.8%

USA

91,849

+7.8%

277,132

+10.9%

2Provisional registration figures

The supply figures reported on this press launch are provisional and will change up till the quarterly assertion to 03 November 2023 is printed. Notes on how supply figures are ready might be discovered within the BMW Group Report 2022 on p. 67.

 

If you will have any questions, please contact:

BMW Group Corporate Communications

Carolin Bachmann, Communications Sales

Telephone: +49 89 382-38801

Email: carolin.bachmann@bmwgroup.com  

Dr Sina Unger, Communications Sales

Telephone: +49 89 382-47564

Email: sina.unger@bmwgroup.com

Eckhard Wannieck, head of Communications BMW Group, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media web site: www.press.bmwgroup.com/deutschland

Email: presse@bmwgroup.com

Motorsport

Dodge Challenger is only 35 sales ahead of Ford Mustang in Q3 2023

It’s the final quarter of the final year of the epic sales war between the Dodge Challenger, Chevrolet Camaro, and Ford Mustang. While the Challenger and Camaro will be leaving the scene in 2024, the Mustang is set to emerge as the winner by default. But before that happens, we have a close battle to determine the sales champion of 2023.

And when we say close, we mean it. With the third-quarter 2023 sales figures now available from Ford, Dodge, and Chevrolet, it’s clear that the Mustang and Challenger are neck-and-neck in the competition. Currently, Dodge is in the lead with 35,350 Challenger sales, while the Ford Mustang has sold 35,315 units. The difference between them is a mere 35 cars. It’s so close that by the time this article is published, Ford could have taken the lead.


News

Lawrence Stroll-led Yew Tree raises stake in Aston Martin to 26.23%

Yew Tree has increased its ownership in Aston Martin to over 25%, despite a previous commitment to Geely and sparking rumors of a potential partnership with another car manufacturer.

The group, headed by billionaire chairman Lawrence Stroll, announced last Friday that it acquired an additional 3.27% stake in Aston Martin, bringing its total ownership to 26.23%.

This share purchase contradicts an agreement made with Geely earlier this year when the Chinese company increased its stake to 17% and resolved a conflict with Stroll by purchasing Aston Martin shares at a premium price.

The

Motorsport

More People Than Ever Paying $1K A Month For New Cars In Q3 2023

Last quarter, average monthly payments for both new and used cars remained high. While shoppers paid $30 more per month for new cars, payments for used cars decreased by $2.

New car buyers are spending more each month to finance a smaller amount, as the interest rates have increased and the loan terms have shortened. In Q3 2023, the average financing amount for new cars was $40,149 for 68.4 months, resulting in a monthly payment of $736 with a 7.4 percent APR. In comparison, during the same quarter last year, people were paying $703 per month at 5.7 percent for 70.3 months on $41,347.

  New, Q3 2023 Used, Q3 2023
Term 68.4 70.1
Monthly Payment $736 $567
Amount Financed $40,149 $29,328
APR 7.5% 11.2%
Down Payment $6,907 $4,111

Used car monthly payments slightly decreased last quarter to $567 compared to Q2 2023, but they are still higher than the $565 paid in Q3 2022. The average amount financed for used cars also decreased to $29,328, down from $31,367 in Q3 2022 and $29,665 in Q2 2023.

In July, August, and September, a record number of new car buyers opted to pay $1,000 or more per month for their vehicles. The percentage of these consumers increased from 17.1 percent to 17.5 percent in the last quarter.

The rise in interest rates is a major factor contributing to the high monthly car payments. The APR for used cars averaged 11.2 percent over the last three months, a significant increase from the 9.0 percent seen last year. The average APR for new cars has also risen by nearly two percent.

These interest rates were last seen in 2007, with new cars having an average APR of 7.4 percent and used cars at 11.4 percent. Average down payments for both new and used cars have also increased, with new cars requiring an average down payment of $6,907 and used cars requiring $4,111.

Edmund‘s study predicts that monthly payments will remain high in the near future. There is a possibility that the Federal Reserve might raise interest rates again before the year ends, and the ongoing UAW strike could adversely affect inventory levels for those automakers, resulting in higher prices for new and used vehicles.

A study by iSeeCars from last month revealed that the limited production of new cars during the pandemic has caused used car prices to rise by 33 percent compared to prices in 2019. With fewer new cars available at dealerships, prices are expected to increase for everyone.

VauxhallUk

One-In-Four Electric Vans Sold in the UK So Far This Year is a Vauxhall Vivaro Electric

  • Vauxhall Vivaro Electric accounts for more than 25% of all electric vans sold in the UK this year
  • Vivaro Electric remains the country’s top-selling electric light commercial vehicle (e-LCV), with 575 registered in July and 2,964 year-to-date
  • Vauxhall is the leading e-LCV manufacturer in the UK, representing almost a third of all electric van sales so far in 2023
  • Vauxhall is one of the few manufacturers in the UK offering a fully electric van across its entire lineup

According to the latest new van registration figures from the Society of Motor Manufacturers and Traders (SMMT), over 25% of electric vans sold in the UK this year have been Vauxhall Vivaro Electric.

The registration figures for July show that the Vivaro Electric holds a 26.6% share of electric LCV registrations in 2023, maintaining its position as the best-selling e-LCV in the UK. In July, 575 Vivaro Electric vans were sold, bringing the year-to-date total to 2,964.

Vauxhall continues to be the top-selling e-LCV manufacturer in the UK, accounting for 32.9% of the market so far this year. This means that nearly one in three electric vans sold in 2023 has been a Vauxhall.

Vauxhall stands out as one of the few manufacturers in the UK offering a fully electric van across its range of models. By 2028, Vauxhall aims to become an exclusively electric manufacturer, which is seven years ahead of the UK Government’s deadline.

James Taylor, Managing Director of Vauxhall, commented: “It’s a significant achievement that over a quarter of electric vans sold in the UK this year are Vivaro Electric. This highlights the model’s versatility and ongoing popularity among private buyers and businesses of all sizes looking to transition to electric fleets.”

The Vivaro Electric has been recognized with several awards, including ‘Medium Van of the Year’ at the What Van? Awards 2022 and ‘Best Medium Electric Van’ at the Driving Electric Awards 2022. It was also crowned ‘International Van of the Year 2021’. The van offers great flexibility, with options for a 50kWh or a 75kWh battery and a WLTP range of up to 205 miles on a single charge. It can carry a maximum payload of up to 1,226kg.