To nobody’s surprise, 2020 was a rough year for the auto industry. Sales were noticeably lower than in previous years. However, experts predict that auto sales will be making a comeback this year.
Industry News
Will Longer Battery Life Mean More Older EVs on the Road?
Contemporary Amperex Technology (Catl) in China announced it is looking to roll out a new battery for electric vehicles (EVs) designed to last more than 1 million miles and up to 16 years. The company also stated that it will supply its batteries to Tesla, which helped develop the battery, as well as BMW, Daimler, Honda, Toyota, Volkswagen and Volvo.
Auto Airbag Market to Exceed $71 Billion in 5 Years
A report from ReportLinker showed that the global automotive airbag market is expected to grow to $71.8 billion by the year 2025. The firm said the growing market can be attributed to a number of factors, including technological advances in developing airbags, legislation mandating the installation of airbags in newer vehicles and “smart” airbags that come with sensors.
Missing Bolts Cause GM to Recall Over 217,000 Vehicles
ABC News reported that General Motors (GM) is recalling over 217,000 vehicles after it was found that some of the cars were missing bolts from their start-stop mechanisms. This may result in transmission oil leaking from the mechanism and causing the car to either stop moving or catch on fire.
Ford Returns to Reporting Monthly Auto Sales
After a two-year hiatus, Ford Motor Company has decided to release its U.S. monthly sales reports again. This was reported by Bloomberg and picked up by Automotive News.
Tesla Cuts Back on Warranties for Older Models
Tesla has announced that it is reducing used-vehicle warranty coverage on its older Model S sedans and Model X crossovers after the original warranty expires. This comes a few days after the electric vehicle (EV) maker dropped its seven-day “no questions asked” return policy on its newly purchased cars.
Automakers Admit EVs Outperform Gas-Powered Cars
A recent article from E&E News reported that Volkswagen, GM and Ford can no longer keep a secret: that they believe that vehicles that run on gas are no match for their battery-powered counterparts. Since making that admission, they must now find a way to promote the benefits of electric vehicles without alienating their customer base that still prefers cars with the good, old-fashioned internal combustion engine.
