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  • 10/11/23 - New BMW X2 and iX2, Is This Single-Seater the Future of Affordable Commercial EVs?, The Discontinued Cars Of 2024

10/11/23 - New BMW X2 and iX2, Is This Single-Seater the Future of Affordable Commercial EVs?, The Discontinued Cars Of 2024

10-11-2023

GM. Rev up your day with the latest automotive news and insights delivered to your inbox in our exclusive newsletter! In today’s email:

  • 🚗 Car reveal/review: 2024 BMW X2 and iX2 revealed new look, Kia EV9, Chevy Corvette ZR1 Spotted At The Nürburgring

  • 🏭 Industry trend: What drove online used car marketplace Shift to file for bankruptcy, Used Cars Are Getting Cheaper, Except Pickup

  • 🤖 Auto Tech: Is This Single-Seater the Future of Affordable Commercial EVs?

  • 😄 Fun read: The Discontinued Cars Of 2024

BMW iX2 | Car Expert

BMW has revealed the X2 and iX2 compact SUV coupes, set to launch globally from March 2024. The X2 range includes an electric iX2 xDrive30, the performance-oriented X2 M35i xDrive, and base petrol and diesel models. All will be produced at BMW Group Plant Regensburg. The X2 features a distinctive design, LED headlights, and various optional features. An all-electric iX2 model boasts impressive range and charging capabilities. A petrol M Performance variant is also available. Standard and optional features include safety tech, infotainment, and over-the-air software updates. Australian-market details are forthcoming.

Kia EV9 | The Truth About Cars

Kia has announced pricing and configurations for the upcoming EV9 electric family hauler. The range starts at $54,900 for the Light RWD trim and goes up to $73,900 for the GT-Line e-AWD. Reservations, with a refundable $750 deposit, open on October 16. The EV9 offers an 800-volt electrical architecture, up to 300 miles of range in the Light Long Range RWD model, and production in Georgia starting in 2024. This move to the U.S. could make the EV9 eligible for federal EV tax credits.

Chevy Corvette ZR1 | Top Speed

Chevrolet is preparing to launch the C8 Corvette ZR1, a track-focused variation of the sports car. Spy shots reveal enhanced design features, including an aggressive and aerodynamic body. The ZR1 is expected to feature an upgraded 5.5-liter LT7 V-8 engine with up to 850 horsepower and 850 pound-feet of torque. The release date is uncertain, but Chevy is testing the new C8 Corvette, possibly a ZR1, for a launch between 2024 and 2026.

to a deteriorating cash position and inability to secure further financing. Approximately 80% of employees were terminated. Shift estimated the liquidation process would cost between $4.1 million and $5 million. Factors contributing to its demise include economic uncertainty, inflation, and investments in mergers and technology despite a cooling used car market. Despite a pivot to a dealership model, the company was unable to restructure debt and secure additional financing.

Used vehicle prices in several segments have declined year-over-year, but trucks have seen pricing increase by almost 1%, largely due to their use for work. Supply remains tight for used cars, and they were still listed for an average of $26,717 at the start of October. Used inventory has decreased from 54 days' supply to 47 days' supply year-over-year. A continued UAW strike could potentially impact the used-vehicle market.

This article highlights Helixx, a UK startup addressing the need for affordable small commercial electric vehicles. They've unveiled a live prototype of a compact van set for production in 2024. Using 3D printing and recyclable materials, the design focuses on simplicity and environmental impact. These EVs, intended for developing countries, feature swappable lithium-iron phosphate batteries with a 124-mile range. The article discusses the demand for such compact EVs in these regions and their relevance to evolving business requirements.

This article delves into the transformations happening within the automotive industry in 2024, shedding light on the discontinuation of ten distinctive car models. These range from high-performance supercars like the McLaren 720S to budget-friendly compact cars like the Kia Rio. With the advent of electric and hybrid vehicles, manufacturers are reevaluating their lineups, making this a pivotal time for both car aficionados and the industry as a whole. The article explores the reasons behind these discontinuations and hints at what might replace these iconic vehicles.

And.. that’s a wrap