Ford plans $30K EV, Chinese auto market growth, most reliable 2021 model year cars

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1. Ford CEO Jim Farley: A profitable $30,000 EV is on the horizon

During the Aspen Ideas Festival on Friday, Ford CEO Jim Farley said the automaker aims to launch a $30,000 EV. Ford aims for the EV to be profitable in about two and a half years, CNBC reports.

The big picture: Farley didn’t give many details about the new $30,000 EV, which is being developed by a special team at Ford. He mentioned that its main competitors will likely be Chinese automakers like BYD and possibly an entry-level Tesla … Read more

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2. Chinese automakers to claim 33% of global market share by 2030

A new analysis by AlixPartners expects Chinese car brands to account for around one-third of the world’s auto sales by 2030.

Why this matters: While lawmakers in the U.S. and Europe are hoping to protect their own industries through tariffs, competition with China seems inevitable … Read more

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3. Dealers and car buyers find 'sweet spot' with 3-year-old cars

Models made three years ago are now entering the “sweet spot” when it comes to used vehicle age, according to Consumer Reports, having declined enough in price to attract buyer attention while still sharing most of the safety and entertainment features new car owners enjoy.

Let’s take a look at some key takeaways from this year’s list of reliable models from 2021 ... Read more

• BYD sold a record number of electric and hybrid cars in the second quarter.

• Rivian teases five upcoming mystery vehicles.

• You can now lease a Hyundai IONIQ 5 for less than the cheapest car in the U.S.

• Range Rover launches a collection of 5 celestial-inspired models.

• This EV prototype can charge to 80% in under 5 minutes.

Thanks for reading everyone.

— CDG