automobile company

Exponential Exchange closes on $7.4 million funding to develop risk mitigation tools for the automotive ecosystem | Auto Remarketing Auto Remarketing

Financial innovation platform Exponential Exchange has closed an oversubscribed $7.4 million seed funding round led by MaC Venture Capital to continue building a suite of financial instruments designed to bring new risk-management tools into the automotive ecosystem, as well as other industries with underserved asset classes.

Industries such as agriculture, energy and manufacturing have long been able to hedge against price risk by using derivatives, Exponential said. Meanwhile, auto fleet owners and insurance companies have not had that option.

Exponential said its mission is to change that by creating a set of financial instruments that would allow rental car companies,

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Global electric vehicle supply chains struggle to keep up as demand surges

Reaching net zero emissions will require massive amounts of critical raw materials, which are currently used in everything from solar panels to electric vehicles. For EVs, diversifying battery manufacturing and critical raw materials supplies will be key to ensuring secure and sustainable supply chains

Global EV sales are soaring, and the transition has only just begun

Electric vehicle markets are still showing great strength across the board, breaking new records as sales surge. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Global sales

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Consumer growing less satisfied with their auto insurance: J.D. Power

The auto insurance industry increased rates an average of 15.5% in 2022, J.D. Power said.

Auto insurance customer satisfaction decreased year-over-year by 12 points on a 1,000-point scale, according to a study by J.D. Power. That marked the largest decline in 20 years. Customer satisfaction with car insurance providers dropped to 822, down from 834 the year prior. 

J.D. Power ties the decline to the higher costs of auto insurance. Nearly one-third (31%) of auto insurance customers said they saw a rate increase last year. The auto insurance industry raised rates an average of 15.5% in 2022, J.D. Power said.

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NIO: Rising Carmaker Technique Evaluation 2023

Rising carmaker technique analysis: NIO is deploying battery swap and sub-brands for the knockout match in 2023.

In 2022, the gross sales surged by 32.3% 12 months on 12 months, being concentrated in first-tier cities.

In 2022, NIO bought 120,134 automobiles, up by 32.3% on an annual foundation, particularly:

ES6, ET7 and EC6 have been the highest three fashions by gross sales, of which 42,319 ES6 automobiles have been bought, accounting for 35.2% of the full gross sales. As ES7, ET7 and ET5 (“775”) have been delivered, they noticed a rising share of gross sales. Amongst them, the gross sales

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Harbor Freight is recalling its recalled jack stands’ replacements

In Might, Harbor Freight recalled greater than 1.7 million Pittsburgh-branded three- and six-ton jack stands that would collapse on account of a producing flaw. The flaw on these stands got here from worn dies within the manufacturing course of, which stamped out worn ratchet tooth that would not interact sufficiently. Harbor Freight issued reward playing cards to clients, which some consumers used on alternative jack stands. The next month, a buyer put his alternative stand beneath a Volkswagen Golf, and that stand failed on account of what appeared like a welding subject on the legs. Harbor Freight stated it might

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Finest instruments you must shortly consider a used automotive

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It wasn’t way back that the 50,000-mile mark separated a very good used automotive from one which had been excessively chewed on. Now, who must roll again an odometer? Sam Fiorani, VP of world automobile forecasting at Auto Forecast Options, mentioned, “The standard of autos has improved a lot {that a} 150,000-mile Toyota Camry brings severe cash.” His evaluation isn’t any hyperbole, both, as autos with six figures on the odometer bought for file costs in June of 2021,

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