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Rebates, employee pricing, and 0% financing boosted sales but drained the automaker's cash reserves. The subprime mortgage crisis and high oil prices of 2008 caused the popularity of once best-selling trucks and SUVs to plummet. Automakers were forced to continue offering heavy incentives to help clear excess inventory. [90]
The financial mathematics behind the 0% finance scheme is somewhat complex, as the calculation differs with respect to the type of product and the country. [1] These deals are offered by finance companies or banks in conjunction with a manufacturer or dealer network. The schemes offer "zero percent" finance, where a customer pays for the ...
On June 1, 2010, the Chinese government announced a trial program to provide incentives up to CN¥ 60,000 (~ US$9,281 in June 2011) for private purchase of new battery electric vehicles and CN¥ 50,000 (~ US$7,634 in June 2011) for plug-in hybrids in five cities.
In December 2010, Mitsubishi and Nissan agreed to form a joint venture (later named "NMKV Co., Ltd.") to develop kei cars for the Japanese market. [58] In 2016, Nissan uncovered evidence that Mitsubishi's fuel-economy testing numbers were erroneous and had been erroneous since the start of the venture, affecting 625,000 cars produced by NMKV. [32]
According to a 2010 study by the National Research Council, the cost of a lithium-ion battery pack is about US$1,700 /kW·h of usable energy, and considering that a PHEV with 10 km (6.2 mi) of electric range requires about 2.0 kW·h and a PHEV with 40 km (25 mi) of electric range about 8 kW·h, the estimated manufacturer cost of the battery ...
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A 2010 Hyundai Tucson used for a crash test by the National Highway Traffic Safety Administration Safety is a state that implies being protected from any risk, danger, damage, or cause of injury. In the automotive industry, safety means that users, operators, or manufacturers do not face any risk or danger coming from the motor vehicle or its ...
In 2009, India (0.23m) surpassed China (0.16m) as Asia's fourth largest exporter of cars after Japan (1.77m), Korea (1.12m) and Thailand (0.26m). [111] In July 2010, The Economic Times reported that PSA Peugeot Citroën was planning to re-enter the Indian market and open a production plant in Andhra Pradesh that would have an annual capacity of ...