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Tag Archives: Auto industry

What Plunging Global Semiconductor Sales Says About Autos, IT & How the Economy Reacts to Uncertainties

By Wolf Richter, publisher of Wolf Street. Originally published at Wolf Street Global chip sales plunged 16.8% in June from June last year, to $32.7 billion, on a three-month moving average basis, and are down 22% from the peak in October 2018, according to the World Semiconductor Trade Statistics today. As deepest and most relentless plunge in semiconductor sales since the Financial Crisis continues, any hopes for a V-shaped recovery, such as during the Financial Crisis, have been shelved:...

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Why Consumers Aren’t Buying Electric Cars

Yves here. Even though this article didn’t unpack it, the reservations about range and recharging time for electric cars are not trivial. What happens when you run out of juice? You are looking at being towed, as opposed to getting a friendly driver, a cop, or AAA to give you a gallon of gas so you can limp to the nearest gas station. On top of that, in winter, because electric vehicles don’t generate heat (at least the way combustion engines do), running the heater cuts into the range....

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Carmakers and California Agree on Emissions Rules

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Four major carmakers – BMW, Ford, Honda, and Volkswagen – agreed last week to comply “voluntarily” with tougher California state emissions rules. These carmakers account for 30% of the global car market, according to The Verge, Major automakers buck Trump’s emissions rollback by signing deal with California. As I’ve written previously, the Trump...

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Mining and Electric Vehicles: Lithium, Nickel, Cobalt

By Lambert Strether of Corrente. Readers, every so often I mention the famous New Yorker article about a reporter who accompanies a group of locals into a swamp to find a bird, thought to be extinct, but whose song may have been heard. After many many pages, the upshot: They didn’t find the bird. I’m afraid this post is like that. Among the many unanswered questions about electric vehicles (EVs) is whether we have enough of the necessary minerals — lithium, cobalt, nickel — to manufacture...

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Whether It’s the New NAFTA or the Old NAFTA, It Serves the 1 Percent

By Leo W. Gerard, the international president of the United Steelworkers Union (USW). Produced by the Independent Media Institute Mick Mulvaney, a millionaire who is President Trump’s acting chief of staff and director of the Office of Management and Budget, awarded himself another job last week: spokesman for labor. Referring to the proposed new NAFTA, he told the Wall Street Journal, “We know that labor supports it.” That, right there, is the problem with NAFTA, old and new. One percenters...

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The Electric Vehicle Revolution Will Come from China — not the US

By Jack Barkenbus, Visiting Scholar at the Institute for Energy & Environment, Vanderbilt University. Cross-posted from Alternet. The electric vehicle revolution is coming, but it won’t be driven by the U.S. Instead, China will be at the forefront. My research on EVs, dating back a decade, convinces me that this global transformation in mobility, from petroleum-fueled vehicles to electric ones, will come sooner than later. The shift is already happening in China, which is the world’s...

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“Code Red” at Tesla as Carmaggedon Sinks Tesla Bonds, Carmaker May Need Another $1-2 Billion Before Year End

Yves here. Things are looking ugly indeed at Tesla. The once-celebrated carmaker has has a lot of the air removed from its stock price, so that its market cap is finally below that of major auto manufacturers like GM. But the stock has fallen nine of the past ten days, for a cumulative decline of 20%, and the bottom does not seem to be nigh. After drinking enough Tesla Kool-Aid for the electric car maker to float stock and bond market offerings earlier this month, collective sobriety kicked...

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Peak Gasoline Vehicles Is Already Here

By Nick Cunningham, a freelance writer on oil and gas, renewable energy, climate change, energy policy and geopolitics based in Pittsburgh, PA. Originally published at OilPrice The internal combustion engine has already reached a peak in sales. That startling conclusion comes from a new report from Bloomberg New Energy Finance (BNEF). “Sales of internal combustion passenger vehicles have already peaked, and may never recover unless EV growth falters, or major economies such as China invest in...

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Wolf Richter: Subprime Bites – Auto-Loan Delinquencies Spike to Q3 2009 Level, Despite Strongest Labor Market in Years

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street Serious auto-loan delinquencies – 90 days or more past due – jumped to 4.69% of outstanding auto loans and leases in the first quarter of 2019, according to New York Fed data. This put the auto-loan delinquency rate at the highest level since Q4 2010 and merely 58 basis points below the peak during the Great...

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Wolf Richter: Tesla Discloses Record Pollution Credits for Q1: Without Them, it Would Have Lost $918 Million and Bled $1.14 Billion in Cash

Jerri-Lynn here.  Perhaps the penny is about to drop on Tesla? I draw to your attention this post in Dealbreaker – which I was going to use in today’s Links, but works better here,  With His Martyrdom Approaching, Elon Musk Has Found His Saint Peter. Please click on it, for the unforgettable image of Elon Musk reimagined on the ceiling of the Sistine Chapel. From the Dealbreaker  piece: We abhor overly dramatic analogies, but Tesla’s financial picture is starting to look a lot like The Last...

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