Forcing carmakers to sell more EVs leaves ‘no room for profit’, says Stellantis executive Drivers are unlikely to buy electric vehicles (EVs) without hefty discounts, a top executive at Vauxhall owner Stellantis has claimed. Emanuele Cappellano, the company’s European boss, said there was no “natural” demand for EVs and so government regulations forcing their sale risked turning the industry loss-making. Demand only arises when subsidies are offered or when carmakers “burn cash” by slashing their price ...

Economic Outlook - The economy is expected to perform well in the upcoming year due to a combination of factors including lower oil prices, tax cuts, and a new Federal Reserve chairman [5][25][43] - Oil prices have significantly decreased, with Brent crude below $60 per barrel and West Texas around $55, down from $80 at the start of the year, which is anticipated to lower inflation [7][21][23] Job Market - The recent jobs report showed an increase in private sector jobs, averaging 75,000 over the past three months and 88,000 over the last year, despite a decline in federal jobs by nearly 300,000 [6][10][16] - Wage growth for production workers has increased, with average hourly earnings rising at an annual rate of 1.6%, although there are concerns about tapering wage growth [11][12] Consumer Impact - Lower oil prices are viewed as a tax cut for consumers, which is expected to support household spending and overall economic growth [18][20][25] - The reduction in oil prices is seen as beneficial for lower-income individuals, who are typically more affected by price spikes [13][14] Stock Market Performance - The stock market has shown significant gains, with the S&P 500 up approximately 35% since early April, indicating positive investor sentiment about future economic conditions [40][41][42] - The Dow Jones transport index and the small cap Russell 2000 have also seen substantial increases, suggesting a broad-based market recovery [41][42] Future Projections - Anticipation of a strong economic year in 2026 is based on current trends in job openings, productivity, and capital spending [19][32][36] - The upcoming CPI report is expected to provide insights into the impact of lower oil prices on inflation [31]

Core Viewpoint - BYD's third-quarter sales experienced a decline of 2.1% compared to the same period last year, marking the first quarterly drop for the company in the electric vehicle (EV) and hybrid sector [1] Group 1: Sales Performance - The sales figures for BYD in the third quarter indicate a decrease of 2.1% year-over-year [1]

Core Insights - Overall car sales have remained steady this summer, but demand for electric vehicles (EVs) and hybrids has accelerated significantly as consumers rush to purchase before federal tax credits expire [1][2][3] Group 1: Sales Trends - EVs and hybrids are currently selling approximately 30% faster than at the beginning of summer, indicating a notable shift in consumer behavior [2] - Despite the increase in EV and hybrid sales, overall vehicle sales have remained mostly stable, which is a departure from previous trends where these sales typically aligned [2] Group 2: Tax Incentives - The Inflation Reduction Act provided incentives for EVs and some plug-in hybrids, including a $7,500 tax credit for new models and $4,000 for used ones, which are set to expire on September 30 [3] - The urgency created by the impending expiration of these credits has led to a spike in EV and hybrid sales [3] Group 3: Consumer Guidance - CARFAX has provided tips for navigating the used EV and hybrid market, emphasizing the importance of vehicle history reports, budgeting, test drives, and pre-purchase inspections [4][8]