In the competition amongst automobile manufactures to knock autonomous driving out-of-the-park, Cadillac is next up to the plate. Recently – rolling-out its newest autonomous driving technology – General Motors (“GM”) announced, beginning in 2020, “semi-autonomous” driving will be available in all Cadillac models. Dubbed “Super Cruise,” the technology is GM’s latest attempt to capture some of the autonomous driving market share Tesla currently dominates.
Mirroring Kevin Durant joining forces with his direct competition, the Golden State Warriors, Honda and General Motors (“the companies”) have teamed up – working together on next-generation electric vehicle (“EV”) batteries – to take on the ultra-competitive EV market. Specifically, the multiyear partnership consists of Honda buying battery modules based on the next generation GM battery system. In what both companies promise will bring each greater efficiency and technological capability, the companies believe the partnership will establish both atop the EV totem pole.
Automakers reported strong June sales in the United States. Riding a wave of truck sales and new crossovers, GM posted a 4.6% increase for the second quarter and increased its market share to 16.6%. Ford increased total sales in June by 1.2% over June 2017, and increased SUV and truck sales by 8.9% and 3.2%, respectively. FCA reported its best June retail sales in 14 years, with Jeep increasing sales by 19% for its best June sales to date.
Recently, Representative Peter Welch of Vermont introduced legislation restructuring the planned phase out for the current electric vehicle $7500 federal tax credit. As has been discussed in great detail in this blog, the current electric vehicle incentives begin to phase out individually for each manufacturer when that manufacturer delivers its 200,000th electric vehicle. As a policy mechanism, the federal electric vehicle tax incentives positively influence both consumer and automotive manufacturer market behavior. When implemented correctly, consumers will shift toward purchasing eco-friendly electric vehicles and manufacturers will ramp up electric vehicle research and development, ultimately leading to higher production volumes. By combining the benefits to both consumers and manufacturers, these incentives can build a trend toward a growing and ultimately sustainable electric vehicle market devoid of any external incentives.
The Dashboard Insights team hopes you had a safe and happy 4th of July.
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