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Growth of global EV sales slows to 15 percent

Global sales of fully electric and plug-in hybrid vehicles grew 15 percent in August from a year ago, marking the slowest rate since January and reflecting tougher comparatives, market research firm Rho Motion said on Friday. China's EV sales growth, which averaged 36 percent a month in the first half, cooled to 6 percent in August. However, China's sales are still expected to be strong in the fourth quarter as new funds become available for its subsidy schemes and the usual seasonal rebound, said Rho Motion data manager Charles Lester. Global sales of battery electric vehicles and plug-in hybrids rose to 1.7 million units in August, Rho Motion data showed. The same month last year plug-in hybrids had benefited from subsidy-boosted demand in China. The rate of growth was down from 21 percent in July. Chinese sales reached 1.1 million vehicles. European sales rose 48 percent to about 283,453 units, while North American sales climbed 13 percent to 201,255. Sales in the rest of the world jumped 56 percent to more than 144,280 vehicles.

South Africa vies to attract investment

South Africa is in talks with Chinese automakers to encourage them to invest in local production, with one manufacturer showing strong interest in building cars locally, a senior government official said on Wednesday. Africa's most developed automaking hub is at an inflection point, with a drop in domestic output and a surge in imported vehicles, mostly from China. Competition is intensifying, meanwhile, with the likes of Toyota and Volkswagen vying for market share against electric vehicle producer BYD as well as Chery, Great Wall Motor and BAIC. Trade, Industry and Competition Deputy Minister Zuko Godlimpi told lawmakers in parliament that discussions are underway with several Chinese automakers to manufacture their cars in South Africa instead of importing them. "One area of their interest is to invest in hybrid vehicles and electric vehicles because that is the market that they are servicing globally," Godlimpi said.

Volkswagen commits billions to AI integration

Volkswagen will invest up to 1 billion euros ($1.2 billion) in artificial intelligence by 2030, integrating the technology into every area of its business in a bid to unlock billions in savings, the German automaker said on Tuesday. The announcement was made on the first day of the IAA Mobility in Munich. Volkswagen's investment will go toward AI-supported vehicle development, industrial applications and the expansion of high-performance IT infrastructure, the company said in a statement, adding that the expected savings could amount to up to 4 billion euros by 2035. The German group is in the midst of deep changes in its two main markets of China and Germany as it steps back to work on new models, and major cost cuts are underway in Germany. Volkswagen said AI would significantly accelerate the development process for new vehicle models and technologies.

Nissan bets on fresh models for revival

Nissan Motor's aging lineup is next on the fix-it schedule as the Japanese automaker attempts a makeover designed to save it from its worst financial crisis in a quarter-century. "We are now entering the phase in which we start rolling out a lot of new cars," Chief Executive Officer Ivan Espinosa said in an interview on Wednesday at Nissan's headquarters in Yokohama. That includes reducing the bureaucratic burden of bringing fresh models to market, "shortening the development process significantly," he said. "This is going to help us have the right cadence of product and react a bit quicker to allow us to cope with all the shifting trends in the market," Espinosa said. Pressure is mounting on Espinosa, 46, to overhaul Nissan amid its financial struggles. The collapse of talks to combine with Japanese peer Honda Motor and a complicated relationship with key shareholder Renault has meant Nissan is going it alone. In May, the carmaker said it will downsize by cutting 20,000 jobs and shutting seven factories.

Mexico to raise tariffs on vehicles made in China

Mexico will raise its tariffs on automobiles from China and other Asian countries to 50 percent, from a prior level of 20 percent, Economy Minister Marcelo Ebrard said on Wednesday. "They already have tariffs," Ebrard said when asked about the import levies on China. "What we will do is raise them to the maximum level allowed." "Without a certain level of protection, you almost can't compete," he added. Ebrard said the measure, which comes just within limits imposed by the World Trade Organization, was intended to protect jobs in Mexico as Chinese cars were entering the local market "below what we call reference prices". The light vehicles and auto parts sectors were particularly affected by lower Chinese prices, he said. The move comes as the United States pushes countries in Latin America to limit their economic ties with China, with which it competes for influence in the region. Ironically, earlier this year, Ebrard had spoken against tariff measures, saying they were at odds with economic growth and keeping inflation down.

Motoring - Agencies