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0:08 Tesla Sets Sales Record, Stock Falls
0:42 Tesla Surpasses Subaru, Mazda
1:12 Optimus No Match for Boston Dynamics
1:40 New Car Sales in China Up Strong
3:07 Maserati’s First EV Gets 1,200 HP
4:56 Genesis GV70 EV Pricing
5:47 Mercedes Bullish on India As Export Hub
7:15 Hyundai Wants AR In Factories
7:56 Danger Signs Flashing in U.S. Car Market
This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.
TESLA SETS SALES RECORD, STOCK FALLS
Tesla delivered a record 343,830 vehicles last quarter, an all-time record for the company. But it built 22,000 more EVs than that, which had analysts wondering why those vehicles weren’t delivered to customers. Tesla blamed the shortfall on a lack of transportation trucks and high transportation prices. It says those vehicles will get delivered this quarter. But investors didn’t take the news well and Tesla’s stock dropped 5%.
TESLA SURPASSES SUBARU, MAZDA
Even so, those 3rd quarter sales put Tesla at an annual run rate of over 1.3 million cars. That means Tesla already surpassed Subaru and Mazda in global sales. And next quarter it will likely see sales grow about another 50% or another half a million vehicles, which would put it at a run rate of over 2 million vehicles a year, which is almost as much as BMW.
OPTIMUS NO MATCH FOR BOSTON DYNAMICS
Last Friday night Elon Musk unveiled the long-promised Optimus robot, but it was kind of a shaky debut. The robot walked very slowly, and seemed to freeze up as it walked off stage. It later took three people to pick it up and move it to another part of the stage. No doubt Tesla will make a lot of progress with this robot, but it sure is far behind Boston Dynamics and what it’s been able to achieve with its robots.
NEW CAR SALES IN CHINA UP STRONG
Sales of new energy passenger vehicles soared in August in China. Sales reached nearly 480,000 units, up 9% from July and up a whopping 109% compared to a year ago. BEVs accounted for three-quarters of NEV sales and plug-in hybrids accounted for nearly 20%. BYD is by far and away number one in NEV sales with more than 156,000 sold in August. That’s more than number 2 through 7 on the list combined. The Wuling Hongguang Mini EV has dominated BEV sales in China for months now and while it remained number 1 in August, the Tesla Model Y is catching up to it and was less than 3,000 units behind.
MASERATI’S FIRST EV GETS 1,200 HP
Maserati fully revealed the newest version of its two-door sports car, the GranTurismo. This is the one that includes its first electric powertrain, a car that it calls the Folgore, which is Italian for lightning. It features three 300 kW electric motors, which is the equivalent of over 1,200 horsepower, but because the motors don’t hit peak power at the same time, the system puts out over 750 horsepower to the wheels. That’s enough for the Folgore to go from 0-100 km/h in 2.7 seconds. The EV’s electrical system is built around an 800-volt architecture and it comes with a 92.5 kWh battery pack, which is quite big and should provide decent range, but Maserati didn’t release any figures. That battery is not under the seats, rather it’s mounted in the transmission tunnel and rear of the vehicle. The space it takes up is where the components of the ICE versions go. Those piston powered cars, the Modena and Trofeo, are powered by the company’s Nettuno engine, which is a 3.0L twin-turbo V6, but with different power outputs. The Modena features 490 horsepower, while the Trofeo gets 550. With 0-100 km/h performance ranging from 3.5 to almost 4 seconds, which is quite slower than the EV, it’s going to be interesting to see which version is most popular with customers. We’ll learn that when deliveries kick off in the second quarter of next year. Pricing for the new GranTurismo is expected to be around $200,000.
GENESIS GV70 EV PRICING
Speaking of EVs, Genesis announced pricing for the electric version of the GV70 for Europe. It starts at nearly 64,500 pounds, which is a little more than $72,000 today. It gets the same electrical system as the more powerful version of the GV60, which includes a dual motor AWD setup that combines for 360 kW or over 480 horsepower and a 77.4 kWh battery that provides over 280 miles of range on the WLTP cycle. Despite being larger than the GV60, the electrified GV70 only gets a few less miles of range. The vehicle is officially on sale now in the UK and deliveries will take place this month.
MERCEDES BULLISH ON INDIA AS EXPORT HUB
Earlier this year, both the EU and India relaunched efforts to set up a new free trade agreement and that has Mercedes eyeing India as a possible export hub. Last week the luxury brand launched its first India-made EV, a version of the EQS sedan, and says it could make more. That would get greater consideration if a trade deal makes India more competitive or gives it an advantage over other markets. And if it did build in India, the plant would need an annual capacity of around 150,000 to 200,000 vehicles. With a population that’s on par with China, India has huge potential for automakers, but it’s still mostly a small and low-cost car market and last year Mercedes only sold about 11,200 vehicles in the country.
HYUNDAI WANTS AR IN FACTORIES
Hyundai is partnering with a company called TeamViewer to bring augmented to the factory floor. They’ll use TeamViewer’s augmented reality platform at Hyundai’s Innovation Center in Singapore. The technology will be used to support assembly, maintenance, quality management, logistics and workforce training. The two companies are also researching AR-powered smart factories, digital experiences for frontline workers and Artificial Intelligence support for future car plants. Hyundai says augmented reality will increase productivity, accuracy, speed and worker safety.
DANGER SIGNS FLASHING IN U.S. CAR MARKET
New car sales in the US have been red hot despite higher prices and tight inventory. But now some analysts are worried that soaring interest rates and talk of a recession will hurt sales in the coming months. CarMax, the giant retailer of used cars, warned that consumers were holding back on big ticket purchases because of high inflation. If sales of used cars are slowing down, that’s going to bring down sales of new cars, since consumers rely on selling their old cars to help pay for their new ones.
BONIFACE ON AUTOLINE AFTER HOURS
Buick plans to go all electric by the end of the decade, and we’re hoping that gorgeous Wildcat concept car is an indication of what’s in store for us. But is it? We’ll find out this Thursday on Autoline After Hours when Bob Boniface will join us. He’s the director of global design for Buick and we invite you to tune in to discover how Buick plans to go electric.
And that brings us to the end of today’s show. Thanks for joining us.
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Seamus and Sean McElroy cover the latest news in the automotive industry for Autoline Daily.