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| 1 | | The non-adjusted price of used vehicles increased by 0.7% MoM in the first half of September, according to the Manheim Used Vehicle Value Index. The unadjusted price of used vehicles decreased by 4.8% versus the same period in 2022. More: - Compact cars, luxury vehicles, and midsize cars saw price decreases by 9.4%, 6.7%, and 5.1%, respectively, versus the first half of September 2022.
- On the other hand, pickup truck prices increased by 1.4% YoY.
- The retail supply for used cars was at 43 days on Sept. 11, down by two days from the end of August, per vAuto data.
- According to the University of Michigan, consumer sentiment fell by 2.6%, while the Morning Consult daily index reported a sentiment decline of 2.7%, driven by increasing gas prices, falling stock prices, and rising interest rates.
Q: Are you in the market for a used vehicle, or have you recently purchased one? How are current market conditions influencing your decisions? Join the conversation here. |     | |
| 2 | | Sierra Space, a subsidiary of aerospace contractor Sierra Nevada Corporation, announced it raised $290M at a $5.3B valuation. The round was led by Japanese companies MUFG, Kanematsu, and Tokio Marine. More: - Sierra Space is developing the Dream Chaser spaceplane, which is designed to deliver cargo and, eventually, passengers to low Earth orbit.
- The launch of the Dream Chaser was rescheduled from late last year due to delays in the development of United Launch Alliance's Vulcan rocket.
- Sierra plans for the Dream Chaser to launch on Vulcan's second mission. The first launch is scheduled for Q4.
- Sierra Space is working on the Orbital Reef, a joint plan with Blue Origin for a private space station.
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| 3 | | Joby Aviation delivered the first of nine eVTOLs to the U.S. Air Force six months ahead of schedule. The delivery is part of a $131M contract under the Agility Prime program. More: - The Air Force will conduct tests with the eVTOL, including the transportation of personnel and cargo. Joby says data from the service's test will help in obtaining an airworthiness certificate from the FAA.
- The second eVTOL delivery to the Edwards Air Force Base is expected by early 2024.
- Earlier this month, eVTOL company Beta Technologies installed the Air Force's first electric aircraft charging station at Duke Field, Florida.
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| 4 | | On Monday, Nissan CEO Makoto Uchida confirmed the automaker's plan to go fully electric in Europe by 2030 remains in place despite the U.K.'s decision to delay the ban on sales of new fossil-fuel cars. Prime Minister Rishi Sunak is setting a new target for 2035. More: - Nissan plans to launch 27 "electrified" models, of which 19 will be fully electric, by 2030.
- The automaker runs the U.K.'s biggest car factory in Sunderland, where it could expand by more than 2x its production, depending on whether the country is able to sign trade agreements, per Nissan's chair for Africa Guillaume Cartier.
- Nissan produced a total of 238,000 cars at its Sunderland plant in 2022.
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| 5 | | Ford is being criticized by the United Auto Workers union for pausing construction of a $3.5B EV battery plant near Marshall, Michigan. The automaker had projected the plant's production to be up to 400,000 EVs per year while employing 2,500 workers. More: - "Closing 65 plants over the last 20 years wasn't enough for the Big Three. Now they want to threaten us with closing plants that aren't even open yet," posted UAW president Shawn Fain.
- The UAW represents 57,000 hourly workers at Ford in the U.S.
- The criticism comes after the union spared Ford, unlike GM and Stellantis, of protest expansion on Friday due to the automaker reinstating a cost of living allowance that was suspended in 2009.
- Ford stock closed +1.21% for the day and 2.11% WoW on Monday.
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| 6 | | Toyota announced a new goal consisting of producing 500,000 electric vehicles in 2025. The automaker had set an earlier target of 190,000 EVs in 2024. More: - Toyota sold a total of 24,000 EVs globally in 2022 and seeks to 150,000 in 2023.
- The automaker sold 4,776 BEVs in H1 2023, including the bZ4X and the Lexus RZ 450e. Toyota sold 1,722 units of the hydrogen-powered Mirai.
- The company is developing 10 new EV models, including the Lexus brand, which are expected to be ready for sales by 2026.
- Earlier this month, Toyota unveiled upgrades to its factories in Japan, which included giga-casting, a solid-state battery development line, and a three-part modular structure.
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- Mitsui O.S.K. Lines is planning to launch a biodiesel and hydrogen-powered hybrid passenger ship service in Japan in 2024.
- VTOL company EHang announced a strategic investment in Shenzhen Inx Technology Co., a solid-state lithium battery company.
- BYD's president for the Americas, Stella Li, said the United Auto Workers' strike damages the U.S. auto industry.
- Ford CFO John Lawler said the Blue Oval division "continues to face healthy demand for new vehicles."
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Term of the Day Content marketing: Content marketing is a form of marketing that focuses on creating, publishing, and distributing content for a targeted audience online. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
INSIDE TRANSPORTATION LEADERBOARD (7 DAYS) |
 | Sr. Analyst | | Nicolas S. is a Sr. Analyst at Inside, covering transportation and startup trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups. Follow him at @MobilityNerd. | | This newsletter was edited by Aaron Crutchfield | |
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