Toyota’s global sales numbers fell over nine per cent during May, as production setbacks and supply chain constraints brought on by semiconductor shortages and COVID continue to impact the industry. Toyota says that both sales and production numbers have fallen below last year’s levels due to the shortages, logistical nightmares […]
Industry
Polestar commences trading on Nasdaq
Polestar has taken another key step in its aspirations of dominating the electric vehicle market with its successful launch onto the tech-heavy Nasdaq stock exchange. Polestar has hit the trading floor under the ticker PSNY, marking a hit milestone in an extremely aggressive expansion plan after launching in 2017 and […]
Elon Musk expects 10% staff cut at Tesla in anticipation of recession
Tesla’s CEO, Elon Musk, has said that he expects the world’s largest electric vehicle manufacturer to cut around 10 per cent of its staff in the coming three months in anticipation of a recession. The news comes after Musk took to the stage of the Qatar Economic Forum, stating that […]
FCAI supports NSW investment in electric vehicle infrastructure
Australia’s automotive representative body has welcomed investment news from the New South Wales government that $38 million will be invested into upgrading the state’s electric vehicle charging network. While the $38 million investment into EV infrastructure falls far short of what experts are calling for, the recent addition to the […]
Rivian records $1.6 billion loss in Q1 alongside $95m in revenue
Californian EV manufacturer, Rivian, has posted a net loss totalling US$1.6 billion for the first quarter of this year, while reporting revenue figures of $95 million. In spite of the less than desirable figures, Rivian says that it is on track to meet its annual production estimates of 25,000 deliveries […]
Toyota posts record profits for 2022 fiscal year, despite challenges
Toyota has made it clear it won’t let nightmarish supply chain constraints or production halts get in the way of its profits, after the company posted record-setting revenue, net income and operating profit figures for the 2021-2022 fiscal year. In its latest earnings call, Toyota reported an operating profit jump […]
Explained: ATO Luxury Car Tax changes for 2022-2023 in Australia
The Australian Taxation Office (ATO) has revealed a number of significant changes to the Luxury Car Tax, increasing the threshold by the largest margin so far, with fuel-efficient vehicles receiving the biggest benefit. The ATO has revised the Luxury Car Tax (LCT) threshold to its highest-point ever in the wake […]
Australian vehicle sales for May 2022: VFACTS
It’s that time of the month again. Australian new vehicle registration figures in the form of VFACTS compiled by the FCAI have been released, covering May 2022 consumer stats for the new car market. According to the Federal Chamber of Automotive Industries (FCAI), there were 94,383 new vehicles registered in […]