Latest news with #cars
WIRED
12 hours ago
- Automotive
- WIRED
Everything You Wanted to Know About China's Auto Industry Takeover
What is the future of cars? For one thing, after substantial government support and poaching of top Western talent, China's car industry is about to dominate globally with charging rates, ranges, luxury design, technology, and sheer volumes. Moreover, it's no longer content with serving its own enormous market as Chinese brands make serious inroads across Australia and Europe. In May, it was reported that, for the first time, Chinese automaker BYD sold more cars in Europe than Tesla in the previous month. Meanwhile in the US, the affordable car is about to go extinct. With President Donald Trump's back-and-forth tariffs, it may well be time to say goodbye to the sub-$30,000 car. WIRED senior editor and auto obsessive Jeremy White hosted a Reddit AMA earlier this month to directly answer your questions about the future of cars and EVs as the global market dramatically shifts. Here's what you need to know. Questions and responses have been edited for clarity. Musk's horrific journey into politics aside, do you think Tesla has a future, with pressure from BYD and its failure to develop a cheaper model, among other challenges? Yes, I do think Tesla has a future—it was only last year that they lost the top slot of the biggest-selling car in the world (to Toyota). So let's keep in mind that Tesla still sells a lot of cars. That said, Tesla has an aging fleet, it has a CEO with his attention diverted very much elsewhere, and, most of all, right now it has a brand and reputation problem. Musk's DOGE antics have directly hit the company—even their finance chief Vaibhav Taneja was forced to admit so on its April earnings call, saying 'unwarranted hostility towards our brand and our people had an impact in certain markets.' And the Cybertruck has been an unmitigated disaster. Tesla desperately needs a win. It needs a new cheap electric car, and no amount of dressing up the Model Y in new clothes is going to cut it. It also needs to look at its autonomous tech, because Chinese brands all favoring Lidar are beating it there too. Let's face it, the Chinese brands have learned a great deal from Tesla and are now coming for Elon's lunch—and, right now, Tesla is not really in a position to compete. How long can this go on? How long can the board put up with these dismal sales figures? We shall see. But one thing is for sure: it cannot carry on like this. Will China really be able to make inroads into the European market given the combination of tariffs and European consumer preference for their own homegrown brands? Yes, and they already are. Chinese automaker BYD now outsells Tesla in Europe, and it is now launching its premium brand, Denza, there too—think Audi or BMW level. Xpeng is there, too, as is Nio.
The Sun
14 hours ago
- Automotive
- The Sun
I'm a motors expert – here are the best used cars for under £2,000 which WON'T guzzle your fuel
A MOTORS expert has revealed a list of the best cars you can buy for under £2,000 that won't guzzle all your fuel. JB, from CarswithJB on YouTube, posted a video running down a range of cheap and cheerful rides that you can enjoy on a budget. 11 As the cost of living crisis bites and petrol prices soar with inflation, JB's advice couldn't come at a better time. Renault Clio First up, he recommended the much-loved family classic Renault Clio. The 1.2-litre inline-four is not as thirsty as many other hatchbacks, while it can still get you where you need to go with a 0-60 time of 10.6 seconds. JB said: "It's the joint-quickest car on the list but, despite that, it will still manage 51 miles per gallon (mpg) and costs £135 per year in road tax. "This is the perfect first car, but it can substitute as a family hatch instead, given it's not too small in size." Within the budget, drivers should target the third-generation models, starting at around £1,800 online. Skoda Citigo A slightly smaller engine powers the Citigo, with a titchy 1-litre inline-three putting out a 0-60 time of 13.9 seconds. It's more expensive on the tax side, too, with an annual bill of £165, but is more economical than the previous options, at 55mpg. JB said: "It's not my cup of tea due to how small it is, and I'd maybe only recommend it as a city car that's focussed on short journeys. "But I do like how basic it is, with all the amenities you need as a driver, nothing more, nothing less." It is also more expensive at purchase, with basic models sneaking in just under the £2,000 cap online. Ford KA 11 Back to the inline-fours, the Ford is still a touch sluggish, reaching 60mph in 13 seconds. However, in terms of running costs, it's a steal, with a tax bill of just £30 and a 57 mpg economy rate. JB said that the model's shared development with the Fiat 500 led to common issues, including engine problems and corrosion. Meanwhile, initial purchase costs are high, with a starting price right on the £2,000 line. Kia Picanto 11 FIND HERE The slowest car on the list, with a 0-60 of just 14.6 seconds. However, again it is just £30 for the tax and its economy is a generous 58mpg. It was initially marketed by rallying legend Marcus Granholm but JB said it drives more like a city car. Basic models are available for around £1,000, with plenty of options under £2,000. Suzuki Alto FIND HERE A sister car of the Pixo, sharing the same frame and drivetrain, the Suzuki just edges it out as it's 0.5 of a second quicker, with the same excellent economy. JB revealed that it was originally designed for the Indian market but came over to Europe shortly after. It was even built in response to rising prices after the 2008 financial crisis, making it ideal for today's tough times. The Alto is available online for around £1,900 but is a bargain considering its affordability in terms of running costs. Fiat Grande Punto 11 With a similar engine to the Renault, the Fiat is a few seconds off the pace, but slightly more economical at 52 mpg. It is also identical in its road tax expense so is still good value all round. JB added: "One strange fact about these is that, on release, they had the highest level of safety when they were retested in 2012, they go zero stars." He suggested this was likely due to a lack of updates on the safety features between the car's 2005 debut and its retest seven years on. The Grande Punto is available for around £1,500, while high-mileage but more recent examples clock in at £2,000. However, JB warned that issues with "build quality" could lead to some dangerous flaws, including steering failure. Mini Hatch 11 The Mini Hatch ties the Clio for pace and comes with its unique British heritage. Earlier models can be found online for as little as £1,000, though these are likely to be high-mileage. JB explained: "It's quoted as doing 53 mpg...I can attest to them being very solid little cars. "The only negative is them being four-seaters, rather than five, so slightly less practical. "But, I would consider it to be amongst the nicest of the cars on the list and if you find a first example it's even more economical." Peugeot 107 11 JB perhaps summed this model up best when he said: "I had to bring back the Peugeot 107 into this vide, given how incredible the running costs really are." And incredible they are, costing only £20 in tax and doing a whopping 61mpg. He added that the Toyota engine under the Peugeot shell is "renowned for its reliability", but did cite issues around boot space and water leakage. Still for just £1,000 at the bottom end, many will consider this a great deal. Hyundai I10 Back on the quicker side, with a 0-60 of 11.8 seconds, the Hyundai, like the Peugeot, is £20 for the year's worth of tax and manages 61 mpg. JB said: "This is the sister car to the Kia Picanto we mentioned before. "Though they are very cheap feeling, they are the definition of cheap and cheerful." Although, they do start at the limit of £2,000 so are on the more expensive end of the list. Nissan Pixo 11 The Pixo is another slower option, but manages a list-topping 65mpg and still only costs £20 in road tax. JB said: "What made the Pixo famous for me was its appearance on Top Gear." They clock in at a minimum of £1,500, with 2010 models at £2,000.
Yahoo
2 days ago
- Automotive
- Yahoo
Trump's trade deals could push the average new car price well above $50,000
Markets have cheered President Trump's trade deals with Japan and the European Union. New 15% tariffs on most imported products from those countries are lower than many analysts expected, and they finally bring some predictability to Trump's chaotic on-and-off-and-on-again tariff policy. But import taxes are still going up, and past experience tells us that American consumers will ultimately bear most of the cost. Some of the most important imports from Europe and Japan are cars and car parts, and the higher taxes are sure to make all facets of owning a car costlier, just as drivers were hoping for a break from soaring prices. Trump is still working on trade deals with Canada, Mexico, and South Korea, other major sources of auto imports, and those outcomes will likely hike prices further. The average new car costs nearly $49,000, according to Kelley Blue Book. Trump's tariffs could raise costs by $3,000 or more once fully priced in, with costs rising less for cheaper models and more for luxury makes. It could take several months for those import taxes to work through supply chains, but unless there's a recession that ravages demand, car prices seem certain to hit new record highs during Trump's second presidential term. Read more: The latest news and updates on Trump's tariffs Ten years ago, the average car price was just $30,000. Several factors have pushed prices higher. Americans increasingly buy big pickups and SUVs, which cost more. Manufacturers struggle to make money on small economy cars and have been pulling them from their lineups. An explosion of digital gizmos adds to the cost, as does new automaker investments in electrification, which still isn't profitable industrywide. The COVID pandemic turbocharged auto inflation due to supply chain disruptions, parts shortages, stronger demand for non-urban transportation, and other factors. Costlier new cars increased demand for used cars, fueling inflation there, as well. More expensive parts and higher repair costs caused a surge in insurance premiums, which have doubled during the last 10 years. The charts below show the trends. Auto inflation has stabilized — but prices aren't coming down. They're basically stuck at new, higher levels. The only real break for drivers has been gasoline prices, down about 10% during the last year, to a national average of about $3.15 per have been first-line victims of Trump's tariffs. That means their customers will feel the pain too. General Motors (GM) and Jeep-parent Stellantis (STLA) both said tariffs harmed profitability in the second quarter. Ford (F) will probably echo that theme when it reports earnings on July 30. Automakers aren't just suffering from tariffs on imported parts, but also from Trump's new 50% tariff on most imported steel and aluminum, which are major components in cars. Most car prices haven't risen yet. The all-in cost of buying a car has actually dropped from peak levels of 2022, when the average cost of a new car equated to 42 weeks of work for the typical buyer, according to the Cox Automotive/Moody's Analytics affordability index, which accounts for prices, incomes, and interest rates. That's now down to about 37 weeks of work. But overall costs are still about 10% higher in real terms than they were from 2012 through 2021. And it's only a matter of time before automakers start passing higher tariff costs onto buyers. Some of the most popular cars in the US market are imports. The Subaru Impreza, Toyota (TM) Prius, and Mazda (7261.T) Miata come from Japan, as a few examples. Many Audis, BMWs ( and Mercedes ( come from Europe, along with the Volkswagen (VWAGY) Golf. Those imports will all come with the new 15% tax. Korean imports include the Hyundai ( Elantra, Kia Soul, and many other models from the two Korean manufacturers. They seem likely to face the same 15% import tax, since that is becoming the standard for Trump's trade deals. Read more: What Trump's tariffs mean for the economy and your wallet Mexico is the biggest source of automotive imports, supplying about 40% of all imported components, plus finished vehicles such as the Ford Maverick, Chevy Blazer, Mazda 3, and Nissan (NSANY) Sentra. Canada is another major source of vehicles such as the Chrysler Pacifica, Lexus RX 350, and many Honda (HMC) Civics. New Trump trade deals with Mexico and Canada seem further off, but in the meantime, he imposed a 25% tax on imported products from those countries that don't satisfy complex domestic-content requirements. All told, about 46% of the 16 million cars sold in the United States each year are imports, and almost all of the cheapest economy cars on the market are imports because carmakers generally can't afford to make them in America. Virtually all of those products will cost more because of the Trump tariffs. Earlier this year, when Trump was threatening 25% taxes on all imported cars, the Yale Budget Lab estimated such an across-the-board tariff would raise the cost of an average car by $6,400. That applied to all cars, whether imported or domestic, because price hikes in one major sector allow competitors to raise their prices too. If the across-the-board tariff is 15% instead of 25%, price hikes would obviously be less. Manufacturers might make adjustments and 'eat' some of the cost by accepting lower profits. But they can't eat all of the additional cost. Shareholders won't accept it, and with costs rising throughout the industry, all automakers will have pricing power, allowing them to charge more. Even if prices rise by less than under some other scenario, car buyers still have reason to expect lower prices from Trump, not higher ones. Trump ran for president last year, vowing to 'bring prices way down,' after three years of excessive inflation. Voters who went for Trump in 2024 said that was one of the main reasons they picked him. Yet earlier this year, Trump said he 'couldn't care less' if automakers raised prices to offset the cost of his tariffs. They're going to. Maybe it won't be by as much as analysts thought before, but that won't comfort buyers facing sticker shock anew at the dealership, service center, auto parts store, and insurance agency. Those Trump trade deals won't look so rosy once people start to pay for them. Rick Newman is a senior columnist for Yahoo Finance. Follow him on Bluesky and X: @rickjnewman. Click here for political news related to business and money policies that will shape tomorrow's stock prices.
Daily Mail
2 days ago
- Automotive
- Daily Mail
Secrets of Michael Jordan's $9.5M mansion... revealed for first time by man who bought it and couldn't believe what he discovered
Every day, dozens of cars pull up to a pair of dark gates around 30 miles north of Chicago. They come to take a peek and even photos – at all hours of the day. 'Even at night,' John Cooper tells the Daily Mail.
Auto Car
3 days ago
- Automotive
- Auto Car
The story behind the UK's newest and most inclusive car show
Bentley also brought along an extravagantly decorated Flying Spur to mark the inauguration of this new event, while Lister boss Lawrence Whittaker (who also runs Warrantywise) arrived in a magnificently wrapped Jaguar LFT-666 coupé for the occasion. Colourful decor and bold signwriting was everywhere, matching the cars and the apparel of attendees, and the warmth of the sun matched that of the happy crowd – who were all invited to visit the museum's 400-car collection as part of their attendance. A count-up of attending car-company models showed that the event had won support from Alpine, Aston Martin, Bentley, Dacia, Genesis, Jaguar, Land Rover, McLaren, Peugeot, Renault, Rolls-Royce, Volkswagen and more – all of them keen to stress the importance of diversity and inclusiveness both to the success of their businesses and the satisfaction of their employees and customers. There were several prize winners: the butchest car was a 991 Porsche 911 GT3 (with a satanic-looking matt-grey Pontiac Catalina as runner-up) and the gayest car was a Mk3.5 Volkswagen Golf Cabrio in an almost overwhelmingly bright shade of Futura Yellow (with a tiny Lotus Europa as runner up). But the programme-ending best story award was grabbed by a pair of blokes who had just finished rescuing and reviving an old Vauxhall Frontera from a local garden – on grounds that it didn't deserve to die – and had given it a vivid set of orange wheels to celebrate its new lease on life. They had only just managed to squeeze it through the MOT test in time for the event and took the big prize to warm applause. Like so many tales on that sunny afternoon, it was an inspiring story of car love and optimism.
