Automotive industry briefing
The latest news and stories you need to know about
News in numbers
Latest GlobalData forecast for global light vehicle sales in 2022.
Valuation of Tenneco, being acquired in an all-cash transaction by the Apollo investor group.
Ford has reaffirmed its intention to deliver a 6% EBIT margin in Europe by 2023 and a company EBIT margin of 10% by 2026.
BMW Group revenues in 2021 climbed to €111,239 million (prev. yr.: €98,990 million/ +12.4%).
Volvo Cars is expanding its presence in Stockholm by investing in a tech hub creating a workspace for 700 people skilled in software engineering, data science and analytics, product management, online business and user experience.
Hyundai Motor has completed its first manufacturing plant in Indonesia with annual production capacity of up to 250,000 units per year. The plant is the Korean automaker’s first factory to produce battery electric vehicles (BEV) in southeast Asia, beginning with the Ioniq 5.
222,892 Atlas models built and sold by Volkswagen Group of America are being recalled because the door wiring harness electrical contacts may corrode, disrupting the electrical connection and delaying the deployment of the driver or passenger front-side airbag during a side impact crash.
Volkswagen has shown the production model versions of its new all-electric ID. Buzz and ID. Buzz Cargo, which go on sale in the autumn in Europe. The ID. Buzz, which is built by Volkswagen Commercial Vehicles in Hannover, is also based on the VW Group’s Modular Electric Drive Kit platform (MEB).
Genesis G70 Shooting Brake
The Genesis G70 is available in only three countries. But that's about to change with Genesis' only wagon headed to Asia and America. The public premiere happened in July last year at the Goodwood Festival of Speed.
Skoda Enyaq Coupe iV
Skoda has begun production of the MEB-based all-electric Enyaq iV Coupe at Mladá Boleslav. Like the Enyaq iV, it is based on the Volkswagen Group’s Modular Electrification Toolkit (MEB). More than 120 units of the elegant coupé will be produced every day at the main plant alongside the Enyaq iV, Octavia and Octavia iV model series.
Volkswagen has issued sketches of its new Amarok pickup which will be launched on the global market in 2022. VW says it will come with a host of new features including ‘numerous driver assistance systems that are new in this segment and will make daily driving much more comfortable for future Amarok customers’.
Geely Methanol Hybrid Emgrand
Geely has been testing a methanol-powered hybrid car in northern China. Geely’s ‘Methanol Hybrid Emgrand’ is based on Geely Auto’s fourth generation B-Segment Modular Architecture (BMA) Emgrand sedan and can use ‘100% clean methanol’ available in fuelling stations in China. Available soon in China.
General Motors has marked a significant milestone in its electric vehicle future as Cadillac has started production of the 2023 Cadillac LYRIQ at GM’s Spring Hill, Tennessee, assembly plant. The Cadillac LYRIQ, the brand’s first all-electric vehicle, is built on GM’s Ultium Platform, at the heart of the company’s EV strategy. The Ultium Platform encompasses a common electric vehicle architecture and propulsion components like battery cells, modules, packs, Ultium Drive units, EV motors and integrated power electronics.