Demand was unusually low in the fourth quarter of 2022, normally the peak shopping period just before Tet, the Lunar New Year, which falls in January-February.
Light-vehicle sales in Russia in 2022 totaled 687,370, down 58.8% from a year earlier, according to Wards Intelligence data. But the Association of European Businesses projects new-vehicle sales in 2023 will rise 12% as the market offers more Chinese brands.
The pre-sale plan of imported cars started with many uncertainties and it is considered as an irrational deal as the government seeks to compensate for the lack of liquidity in the last days of the year by relying on this income and the applicants also seek to maintain the value of the currency in the current situation.
The integrated car allocation system was activated yesterday afternoon for imported cars, and the financial prerequisite for registration in it is the deposit of 500 million tomans (as a deposit) and why this amount is taken and the fate of the huge liquidity resulting from it, is a big question mark for the public.
In January 2023, the European Union passenger car market grew by 11.3% to 760,041 units, starting the new year on a positive note. However, this was largely due to an unusually modest base of comparison in 2022, when the lowest January volume on record was reached.
The Inflation Reduction Act (IRA) in the U.S. is a law that also provides high tax incentives for electric cars and renewable energies. The ten-year U.S. subsidy package is worth $370 billion (currently 346 billion euros).
The Audi e-tron quattro and e-tron Sportback quattro were the two first all-electric Audi models on the market in the United State. Let's take a look at the latest 2023 model year edition.
After facing a 40 per cent drop in sales of cars, SUVs, pickups and jeeps in 7MFY23 to 94,296 units, auto sector stakeholders believe that the next five to six months appear more challenging than the previous seven months.
Overall spending on new and used passenger cars dropped over 15% in 2022, as inflation pushed up prices and drove living standards down, data from analytical agency Autostat shows, despite a 14% rise in spending on used cars.
The resolution of the Council of Ministers regarding the national number plate of vehicles allowed to travel in free zones was announced by the first vice president yesterday, and import activists believe that this resolution will not only have positive effects on the market, but also inflation of car prices in free zones.
Today (Monday, 24th of February), the First Vice President announced the resolution of the Council of Ministers regarding the method of national license plates and traffic in the mainland of vehicles allowed to drive in commercial-industrial free zones.
The regulation could increase production costs by up to 1,000 euros per vehicle and would occupy precious engineering capacity to improve combustion engines instead of electric vehicles, according to the representatives.
The automotive industry is likely to miss climate goals by 75%, according to a study backed by electric vehicle makers Polestar and Rivian (RIVN.O) that was released on Wednesday.
The manner of supply and pricing of cars has caused tension between the competition council and car manufacturers for a few days, which seems that with yesterday's decision of the Consolidation Commission to sell cars on the stock market in 1402, the transparent supply of cars will finally continue.