Carlos Ghosn says German automakers greatest poised to tackle Tesla

International refugee auto manager Carlos Ghosn said he believes German automakers are best positioned to challenge the electric vehicle leader Tesla.

Ghosn, speaking from Lebanon, where the former Nissan Chairman fled to evade the Japanese authorities, mentioned Mercedes-Benz and Volkswagen specifically during a Friday interview with CNBC’s Phil LeBeau during “The exchange.”

“In my opinion it will be a German company,” said Ghosn. “The Germans are the first who, after heavily criticizing and mocking the electric car in 2008, suddenly realized that they have to move and do it quickly.”

Ghosn, who is promoting a new book called “Broken Alliances: Inside the Rise and Fall of a Global Automotive Empire,” said Japanese automakers were slowly switching to electric vehicles and that it was going to hurt them. He didn’t mention it General Motors or Ford enginewho are both investing billions in technology.

Volkswagen has been particularly aggressive in expanding its worldwide sales of electric vehicles. The German automaker expects more than 70% of European sales of its Volkswagen brand Electric cars by 2030. In the US and China, the company expects half of its sales to come from electric vehicles by then.

Carlos Ghosn, former CEO of Nissan Motor Co. and Renault SA, gestures as he speaks to the media at the Lebanese Press Syndicate in Beirut, Lebanon on Wednesday, January 8, 2020.

Hasan Shaaban | Bloomberg | Getty Images

Speaking of the recent surge in electric vehicle startups, Ghosn said he believes that many companies “will prosper as long as they pull together their actions.” He did not name any, but the most famous companies include Rivian, Clear, Fisker and Lordstown Motors.

“I’m very optimistic that some of the startups will turn electric cars and autonomous cars around,” said Ghosn.

Ghosn, who protests his innocence, said he fled Japan because he had “no chance” of a fair trial. On December 29, 2019, he secretly escaped with the help of a former US Army Green Beret and his son who are both Serving prison sentences in Japan. Michael Taylor and his son Peter Taylor were arrested by US authorities in Massachusetts in spring 2020 and extradited to Japan in March.

When asked about the Taylors, Ghosn echoed concerns about the Japanese legal system and its high conviction rates.

“I feel bad for them. I feel bad for all of the people who go through the system, especially if you are a foreigner,” he said.

Ghosn was initially arrested in Japan in November 2018 on charges of financial misconduct and misuse of company resources.

Ghosn reiterated on Friday that he hopes to be able to leave Lebanon one day.

Used automotive costs to remain excessive till automakers repair manufacturing points

If you’re waiting for used car prices to fall, check out the latest advisories on how a sign that prices have already started fallingsays one of the largest used car salesmen in the United States not to be too excited.

The rise in used car prices is unlikely to slow until manufacturers can start producing cars at pre-pandemic prices, according to the CEO of Carvana.

“[Used car sales] The volume is pretty much in line with 2019, it hasn’t changed that much – the main difference is that so much fewer new cars are being made and that is driving prices up. “Ernie Garcia, CEO of Carvana, said on CNBCs”Squawk box“on Friday.” I think up the supply chains on [original equipment manufacturers] Find out that it is likely to have a lasting effect. “

Automakers have struggled to maintain production in the face of the shortage of semiconductor chips.

fordthat had to cut his North American vehicle production in July and August due to shortages, the earnings report for the second quarter said that the supply was improved but that it lost production of about 700,000 vehicles during the quarter.

General Motors said the chip shortage will reduce its revenue by $ 1.5 billion to $ 2 billion and has been idle some of its North American assembly plants due to scarcity.

Nissan said in May it probably half a million fewer vehicles this year while BMW recently warned that the shortage will creep in by 2021.

The chip shortage will cost automakers an estimated $ 110 billion in lost sales this year, according to a May report by consultancy AlixPartners.

Used car companies see sales increase

Customers inspect a Fiat Chrysler Automobiles NC Dodge Grand Caravan minivan at a Carvana Co. location in Westminster, California, United States on Thursday, May 28, 2020.

Patrick T. Fallon | Bloomberg | Getty Images

The drop in production was a boon for used car dealers like Carvana. The company reported its first profitable quarter on Friday, posting net income of 45 million a year ago in the second quarter of 2021, and for the first time in its eight-year history, it sold over 100,000 cars in a quarter. Carvana stock is up 44% this year through Friday.

These gains have been accompanied by a large increase in used car prices. The average transaction price for a used car was $ 25,410 in the second quarter of 2021, down from $ 22,977 in the first quarter and 21% year over year. according to dates from the online automotive resource Edmunds. That number marks the highest average price over a quarter for a used car that Edmunds has ever tracked.

Debate over when used car prices level off

These high prices have helped boost the used car industry.

EchoPark Automotive, a division of Sonic Automotive that sells used vehicles set a record quarterly earnings of $ 595.6 million, up 88.9% year over year. Retail sales grew 68.9% year over year.

CarMax, the largest used car dealer in the U.S., recorded in the first fiscal quarter of 2022, which ended on 31. The company said it sold 452,188 units through its retail and wholesale channels during the quarter, up 128% year over year.

Regarding when prices might level off, Garcia said, “In the next six months, or even 12 months, I think it’s hard to say.”

“What we are finding is that OEMs supply chains are perhaps a little more fragile than we all would like, and that thousands of parts are being made around the world and waves of covid popping up in different parts of the world I think that makes it really difficult predict when that will return to normal, “he said.

By comparison, Jeff Dyke, President of Sonic Automotive, recently said on CNBC’s “Worldwide exchange“that he expects the chip shortage to ease in the coming months, what start lowering the price of used cars.

“The new car stocks will get better and better in the next few months towards the end of the year,” said Dyke. “This will reduce the number of inventory problems on the used side.”

Cerence and SiriusXM Enter Into Settlement to Improve Voice-Powered Leisure Expertise for Automakers and their Drivers

Drivers can use Cerence technology to access SiriusXM programming with simple and intuitive voice commands in vehicles equipped with SiriusXM satellite radios and next-generation SiriusXM with 360L radios

NEW YORK and BURLINGTON, Massachusetts, June 10, 2021 (GLOBE NEWSWIRE) – Cerence Inc. (NASDAQ: CRNC), AI for a world in motion and Sirius XM Holdings Inc. (NASDAQ: SIRI), the leading audio entertainment company in North America, announced today that it is teaming up to bring Cerence’s conversational AI technology together with SiriusXM as part of a bundled offering for automakers.

Together, the two companies will enhance and enrich the driving experience by providing natural, conversational access to SiriusXM, the popular in-car audio entertainment service that features hundreds of channels of curated, ad-free music, sports, news, entertainment, comedy, and more . This collaboration between Cerence and SiriusXM will provide more drivers at more OEMs with better voice technology and a more user-friendly and consistent way for these drivers to adjust to their preferred SiriusXM programming using simple, straightforward commands such as “Play”. 80s to 8. “This functionality will be available on select SiriusXM satellite radios and in the growing number of vehicles equipped with SiriusXM’s next-generation 360L radios and Cerence technology. Drivers using SiriusXM with 360L can use their voice to access all of SiriusXM’s live channels, as well as a library of pre-recorded content, including a wide range of podcasts, exclusive interviews and unique shows.

“We’re constantly looking for ways to make the SiriusXM experience more enjoyable and easier for our coast-to-coast subscribers,” said Sean Gibbons, SVP and GM, Automotive Product and Engineering, SiriusXM. “By working with Cerence, a leading provider of intuitive, natural driving experiences, we’re making it easier than ever for drivers to access and enjoy the best in-car audio entertainment.”

The story goes on

In addition, Cerence-powered vehicle assistants use AI to continuously learn about users, meaning drivers who, for example, are constantly adjusting to the 80s of SiriusXM, can be directed to new content based on their preferences. For drivers using SiriusXM for the first time, Cerence offers a voice-enabled, conversational onboarding experience that informs them of the most important features, functions and information about SiriusXM and their trial version or subscription and promotes their enjoyment, acceptance and future use.

“SiriusXM, as the leading provider of in-car content, has a wide reach and new and exciting programming for its subscribers,” said Sanjay Dhawan, CEO of Cerence. “By expanding the capabilities of the mobility assistant to include optimized access to SiriusXM content, we are giving drivers a comprehensive, dynamic experience that makes their journey safer, more productive and more enjoyable.”

This integrated offering will be available in North America to automakers for models starting production next year, and it will be available to OEMs with existing Cerence-powered vehicle assistants with over-the-air update capabilities. Cerence currently works with the world’s leading automobile manufacturers, with Cerence technology solutions installed in hundreds of millions of cars worldwide.

For more information on SiriusXM, see www.siriusxm.com. To learn more about Cerence, visit www.cerence.com, and follow the company up LinkedIn and Twitter.

About Cerence Inc.
Cerence (NASDAQ: CRNC) is the global industry leader in creating unique, moving experiences for the mobility world. As an innovation partner of the world’s leading automobile manufacturers and mobility OEMs, it helps to drive the future of connected mobility through intuitive, powerful interaction between people and their cars, two-wheelers and even elevators, and to connect the digital life of consumers with their daily travels, no matter where you are. The success story of Cerence is based on more than 20 years of experience and more than 350 million cars delivered with Cerence technology. Whether connected cars, autonomous driving, e-vehicles or buildings – Cerence maps the road in front of you. For more information, visit www.cerence.com.

About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in North America and the leading programmer and platform for subscription and digital ad-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. The SiriusXM properties, which include Pandora and leading podcast company Stitcher, reach more than 150 million listeners across all categories, the largest addressable audience in the US US digital audio – music, sports, talk, and podcasts. SiriusXM’s acquisitions of Stitcher and Simplecast, along with industry-leading advertising technology company AdsWizz, make SiriusXM a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM also provides satellite radio and audio entertainment in Canada through Sirius XM Canada Holdings, Inc. In addition to its audio entertainment business, SiriusXM provides connected vehicle services to automakers. For more information on SiriusXM, visit: www.siriusxm.com.

Contact information
Kate Hickman
Cerence Inc.
Tel: 339-215-4583
E-mail: kate.hickman@cerence.com

Andrew FitzPatrick
SiriusXM
E-mail: Andrew.Fitzpatrick@siriusxm.com

Will Alpha Motors promote the retro-cute EV type different automakers have shunned within the US?

The flood of EV startups enables car designers to do very exciting work. While mainstream automakers produce endless crossovers with the same predictable truck-inspired design, Alpha Motors’ idea for a “crossover” is more like a vintage rally car than a modern electric vehicle.

Launched earlier this month, the Alpha Motors Jax is the latest in a line of tiny, retro-cute electric cars. Most of these cars won’t be available in the US, but Alpha Motors is an American company (based in Irvine, California). Maybe the Jax is a retro EV that we won’t miss. If Alpha Motors can get it into production, then it will.

The Jax, short for “Junior All-Terrain Crossover”, shares a basic platform and design with Alpha Motors’ Ace Coupé. Changes include a sturdy roof rack, front and rear push rods, and chunky tires. While the Ace is a proper two-door coupe, the Jax also appears to have a set of rear half-doors – much like the Mazda RX-8 sports car from the early 2000s.

The Jax is offered with single-engine front-wheel drive or twin-engine all-wheel drive and can go from 0 to 60 mph in 6.5 seconds, according to Alpha Motors. A 75-kilowatt-hour battery offers a range of 250 miles, according to the company. Alpha Motors also offers 62.5 cubic feet of “combined storage” (the car has a frunk) and a towing capacity of 1,850 pounds.

Alpha Motors Jax

In contrast to the retro exterior, the four-seat interior is reminiscent of the minimalist look of the Tesla Model 3 with a large central touchscreen and a digital instrument cluster on an otherwise bare dashboard. However, you won’t see any fabric door handles in a Tesla.

Alpha Motors is hoping the US will finally get a retro electric city car after missing out on that Honda E. and the latest Fiat 500e. The Renault 5 is expected to return as an electric car as well, but it’s a long way for the US

However, Alpha Motors is still a startup that hasn’t built a single car. So the Jax is far from safe.

Alpha Motors is currently taking reservations for the Jax, which will start at around $ 38,000, but has discussed a production schedule. This uncertainty is typical of the many EV startups that want to challenge established automakers.