This is the new News Round-up where we cover all the things you should know that may or may not deserve a headline on their own (or we may have simply run out of time to cover them). It’s similar to the “While Your Were Sleeping” news coverage, but not the same, hence the name change.
This morning, Jaguar announced they are going racing again, the automaker formerly known as Saab has a business plan and the Tesla Model X has a price spread that would make Porsche blush.
Toyota announced Wednesday it would lower its global sales goal for the 2016 Prius in light of low fuel prices curbing sales of fuel-efficent vehicles.
According to Reuters, Toyota’s new target is to move an annual average of 300,000 to 350,000 Prii out of the lot around the world, compared to the 300,000 to 400,000 annual sales average sought for the outgoing model. A company representative said a decline in global sales of the hybrid since 2013 was one of the reasons behind Toyota’s decision.
Things are looking up for U.S. new-car fuel economy, as the average climbed 0.3 mpg in May to 25.5 mpg.
OPEC is doubling down on shoving shale off a cliff, continuing the trend of low fuel prices through the fall in so doing, Memorial Day Weekend aside.
Those hoping for a return to $100 per barrel of oil are in for a long wait, as OPEC says oil will remain below the price point through the 2020s.
How long will Saudi Arabia allow oil prices to drop as the country’s production remains unchanged? Only Allah knows the answer.
EV and PHEV manufacturers may have fared well in Western Europe last year, but further gains in the market aren’t likely for some time to come.
By the end of Q1 2015, PHEVs are expected to take 1 percent of the overall U.S. domestic market despite fuel prices continuing their downward spiral.
As the price at the pump continues to plummet — diesel not so much — British valuation guide Glass’s predicts big gas guzzlers new and used will return to the motorway.
Passenger car sales in the United States are up just 1% as the overall industry has grown more than 5% through the first eleven months of 2014. America’s two best-selling premium brands, however, are enjoying more encouraging passenger car numbers in 2014. Quickly decreasing fuel prices are not, as of yet, slowing car volume at BMW in the least. (Read More…)
Courtesy of our own Tim Cain. The fain green line represents gas prices, starting from the peak price of crude oil in 2014. Elsewhere, we see market share figures for passenger cars, SUVs/CUVs and pickup trucks. We’ll be keeping an eye on this as the months roll on. Crude oil dipped below $70 a barrel today – truly a black Friday for world oil markets. Let’s see how consumers respond in terms of new vehicle choices.
While some OPEC nations are panicking over oil prices not being above $100/barrel, Saudi Arabia says it wouldn’t mind accepting barrels worth $90 or $80 for the next year or two, so long as it slows down production elsewhere.
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