automotive industry news – Charm

12,000 orders in 3 months? The Rs. 1.23 crore Chinese EV that might be the biggest threat to Western luxury cars yet

Cs news3 weeks ago06 mins

Huawei is entering the luxury EV market with the Maextro S800, challenging established brands with its advanced technology and competitive pricing. The car boasts features like a triple-screen dashboard and ultra-fast charging. With significant pre-orders and declining sales for European luxury automakers in China, Huawei’s entry signals a shift in the luxury automotive landscape. The…

Kerri Wise unpacks key market trends from Lotlinx’s Q2 report

Cs news2 months ago06 mins

Lotlinx recently released its 2025 Q2 Vincensus Report, a quarterly analysis detailing the state of the automotive industry across major OEMs. In today’s episode of CBT Now, Kerri Wise, chief marketing officer at Lotlinx, unpacks the report’s key findings and how dealers can better manage their inventories. The second quarter was heavily shaped by the…

San Tan Ford’s Tim Hovik on tackling EV sales as tax credits expire

Cs news2 months ago06 mins

As federal tax credits for electric vehicles begin to phase out, dealers across the country are bracing for a shift in consumer behavior and sales performance. In this episode of Inside Automotive, Jim Fitzpatrick checks in with Tim Hovik, dealer principal of San Tan Ford, to discuss how these changes are already affecting his operations…

April Ancira breaks down Texas market trends and EV challenges — Ancira Auto Group

Cs news2 months ago05 mins

Texas auto sales surged this spring, but that momentum is already fading—and EVs are still gathering dust. In today’s episode of Inside Automotive, April Ancira, VP at Ancira Auto Group, discusses sales trends, EV resistance in South Texas, and her concerns over OEMs shifting to direct-to-consumer models. Ancira Auto Group experienced a 30% increase in…

MP Materials strikes rare earths deal with US to cut China dependence

Cs news3 months ago03 mins

MP Materials has signed a landmark deal with the U.S. Department of Defense to expand rare earth magnet production and reduce reliance on Chinese supply. The agreement includes a government-backed floor price nearly twice the current Chinese rate, a $400 million equity investment, and long-term offtake guarantees for defense and commercial use. MP will invest…

Alliance for Automotive Innovation Shares EV Stats

Cs news3 months ago06 mins

149 electric models now available for sale in U.S. EVs: 9.6 percent of new U.S. light-duty vehicle sales in Q1 2025, down 1.3 percentage points from Q4 2024 EVs: 2.1 percent of vehicles in operation Gas-powered vehicle market share down 4.6 points in Q1 from prior year; down 23 points since 2016 Charging infrastructure lags:…

Tesla signs first grid-scale battery deal in China

Cs news4 months ago04 mins

Tesla has signed an agreement to build a grid-scale battery energy storage facility in China, marking the company’s first such project in the country. According to reports from Chinese media outlet Yicai, the 4 billion yuan ($556 million) deal involves Tesla, the Shanghai municipal government, and China Kangfu International Leasing. Tesla confirmed the project via…

BYD eyes EV dominance, sees cooperation with Tesla as key

Cs news7 months ago03 mins

BYD, the Chinese electric vehicle giant, has rapidly grown into a dominant force in the automotive industry, challenging legacy automakers and rivaling Tesla in global EV sales. While Tesla is often viewed as its biggest competitor, BYD’s executive vice president, Stella Li, believes there is room for cooperation—at least in their shared mission to eliminate…

Trump confirms 25% tariffs on Canada and Mexico, 20% on China starting March 4

Cs news7 months ago04 mins

On Thursday, President Donald Trump confirmed that his proposed tariffs on Mexico and Canada would go into effect on March 4, following a one-month delay that began on February 3. The tariffs, which include 25% duties on imports from the neighboring countries, have faced ongoing uncertainty regarding their reinstatement. In addition, Trump announced that China,…

China imposes 10% additional tariff on U.S. as trade tensions persist

Cs news8 months ago03 mins

During the latest round of tariffs on U.S. imports, China’s took effect on Monday, imposing an additional 10% duty on vehicles with engines larger than 2.5 liters. This brings the total tariff on these vehicles to 25% as trade negotiations between the two nations stall over the Trump administration’s broader tariffs on Chinese goods. While…