Hertz Launches Used Car Sales Online; Tesla Unveils New Model Y Performance; BMW Faces Recall
Hertz has entered the used car market online, while Hyundai and Kia enjoyed increased sales and EV demand in September. Tesla unveiled a new Model Y Performance, and Lucid Motors' Airbnb Sapphire set a record. Meanwhile, BMW faces a significant recall due to fire risk.
Hertz has launched an online platform for selling used cars, marking its entry into the digital market. The company aims to provide a seamless, convenient shopping experience for customers.
Hyundai and Kia reported a boost in sales and EV sales last month, driven by customers rushing to buy electric vehicles before the federal tax credit expired. Ford and GM also stepped in, using their financing arms to secure tax credits for future lessees.
Tesla has introduced a new Model Y Performance variant, boasting improved range and acceleration. The vehicle is set to appeal to performance enthusiasts seeking an electric option.
In contrast, auto supplier ZF has announced job cuts, with 7,600 positions eliminated from its electric drivetrain department. The move reflects lagging demand for electric vehicles in Europe.
The Downshift, a daily newsletter covering auto industry news, faced a delay in its current edition due to a scheduling change.
Lucid Motors' Airbnb Sapphire has made headlines as the fastest car to 60 mph, according to MotorTrend. The high-performance prototype was developed by Lucid Motors and is built in Casa Grande, Arizona. It was first presented as a prototype before the mid-2020s, with the initial mass production model of the Lucid Air series unveiled online on September 9, 2020.
BMW is recalling 145,000 vehicles in the US due to a fire risk. The recall is linked to an overheated starter motor, which poses a potential fire hazard.
The auto industry continues to evolve, with Hertz's online used car sales and Hyundai's EV success stories. Tesla's new Model Y Performance and Lucid Motors' record-breaking Airbnb Sapphire demonstrate the growing demand for high-performance electric vehicles. However, ZF's job cuts and BMW's recall serve as reminders of the challenges and setbacks in the industry.
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