U.S. light vehicle sales totaled 1.42 million in August, the GlobalData* consultancy said today. The annualized selling rate for the month was 15.1 million a year, down from 16.0 million a year in July. The daily selling rate was estimated at 50,600 units per day in August, down from 51,400 in July. Expectations were high coming into the month, given the inclusion of Labor Day in August for the first time since 2019.**
“August had long been earmarked as a potential bumper month for the auto industry, given a calendar that had not been seen since 2019. However, comparing August 2024 with the same month five years ago demonstrates that the market is still far from fully recovered, as sales were 222,000 lower than in August 2019. Although the industry as a whole is seeing higher incentives than has typically been the case in recent years, there appeared to be relatively few additional deals available for the Labor Day weekend, which may have held back August sales to some extent,”said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Mazda and Panasonic Link on Cylindrical Lithium-Ion Batteries
Panasonic Energy Company and Mazda Motor Corporation today announced that they will prepare for the supply of next-generation cylindrical automotive lithium-ion batteries, in anticipation of their installation in Mazda’s battery electric vehicles with scheduled production from 2027 onward. In a release they said this follows their formerly concluded agreement and reflects their aim of establishing a medium- to long-term partnership.
Japan’s Ministry of Economy, Trade and Industry also approved today their joint project for the expansion of battery production and technology development as part of its plan for establishing a stable supply of batteries. The Japanese government has positioned storage batteries as a strategic asset for achieving carbon neutrality by 2050, and is working to expand the domestic battery supply chains and improve industrial competitiveness. It added a subsidy of ~28.3 billion Yen ($199 million).* Continue reading →