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Pinnacle Auto Appraisers' Blog
Keeping the auto appraising industry up to date with important auto industry and appraiser information.
Florida Diminished Value Law - Tampa, Orlando, Miami, Jacksonville
There are two primary cases that address the notion of damages in the diminished value context. The seminal case is that of Siegle vs. Progressive Consumer’s Insurance Company, 819 So.2d 732 (Florida 2002). The Siegle case, which was heard in fr
Beware Of New Year's Car Theft
Heading out for New Year's Eve? Not only should drivers take care not to drive after too many tipples, they should take extra precautions against thieves. The National Insurance Crime Bureau (NCIB) re...Original link
Total Loss Appraisal/Claims
You do have the right to dispute the insurance company's offer. If you are not satisfied with the settlement amount, please contact us. You are entitled to fair market value of your vehicle. More often than not, the insurance compa
Some firms argue that a law aimed at popularizing electric vehicles risks turning the United States into an assembly shop for Chinese-made technology.
By Ana Swanson and Jack Ewing
Ana Swanson writes about trade and economic ties to China, and Jack Ewing covers the automotive industry.
Nov. 29, 2023, 3:00 a.m. ET
The Biden administration has been trying to jump-start the domestic supply chain for electric vehicles so cleaner cars can be made in the United States. But the experience of one Texas company, whose plans to help make an all-American electric vehicle were upended by China, highlights the stakes involved as the administration finalizes rules governing the industry.
Huntsman Corporation started construction two years ago on a $50 million plant in Texas to make ethylene carbonate, a chemical that is used in electric vehicle batteries. It would have been the only site in North America making the product, with the goal of feeding battery factories that would crop up to serve the electric vehicle market.
But as new facilities in China came online and flooded the market, the price of the chemical plummeted to $700 a ton from $4,000. After pumping $30 million into the project, the company halted work on it this year. “If we were to start the project up today, we would be hemorrhaging cash,” said Peter R. Huntsman, the company’s chief executive. “I’d essentially be paying people to take the product.”
The Biden administration is now finalizing rules that will help determine whether companies like Huntsman will find it profitable enough to participate in America’s electric vehicle industry. The rules, which are expected to be proposed this week, will dictate the extent to which foreign companies, particularly in China, can supply parts and products for American-made vehicles that are set to receive billions of dollars in subsidies.
The administration is offering up to $7,500 in tax credits to Americans who buy electric vehicles, in an effort to supercharge the industry and reduce the country’s carbon emissions. The rules will determine whether electric vehicle makers seeking to benefit from that program will have the flexibility to get cheap components from China, or whether they will be required instead to buy more expensive products from U.S.-based firms like Huntsman.
After pumping $30 million into the project, Huntsman halted work on it. “If we were to start the project up today, we would be hemorrhaging cash,” said Peter R. Huntsman, the company’s chief executive.Credit...Callaghan O'Hare for The New York Times
The lawmakers who wrote the climate bill, including Senator Joe Manchin III, the West Virginia Democrat, included language that bars an electric car from qualifying for the tax breaks if the critical minerals or other components used in its battery were made by “a foreign entity of concern.” Lawmakers defined that as any firm that is owned by, controlled by or subject to the jurisdiction of North Korea, China, Russia or Iran.
But they left it up to the Biden administration to fill in the details, including important questions like what constitutes a Chinese company, and what product qualifies as a “battery component.”
The administration faces a tricky calculation with the new rules. If it allows more companies to qualify for the benefits, Americans will have a wider choice of low-cost electric vehicles to choose from. That would put more clean cars on the road and help to mitigate climate change. It could also help to shore up the finances of U.S. automakers that are losing heavily on electric vehicle production.
But such a path could undercut the administration’s other priority — to build more secure supply chains for electric vehicles. The government has been aiming to use the climate law to boost manufacturing of electric vehicles and their parts in the United States and in allied countries, and reduce dependency on China, which dominates global markets for electric vehicles and their batteries.
The effort to balance these concerns has touched off a fight between automakers and parts manufacturers, U.S. miners and labor unions.
Hyundai is building its first U.S. plant in Georgia to produce electric vehicles.Credit...Russ Bynum/Associated Press
Automakers have been awaiting the guidelines with trepidation.
Carmakers like General Motors and Hyundai, spurred by the new climate law, are racing to build factories in the United States to produce batteries and process materials like lithium. But they are still years away from being able to produce an electric vehicle without materials and components from China, auto industry representatives say.
China dominates production of materials, like graphite and processed lithium, that are essential to the flow of electricity within a battery, and to the cathodes and anodes, the basic building blocks of a battery. Through both formidable government subsidies and enormous economies of scale, Chinese firms now sell some of the world’s most advanced electric vehicles and the components used to make them at much lower prices than competitors in other countries.
Automakers are also under intense pressure to keep costs down by buying from the cheapest suppliers. Ford Motor lost $1.3 billion on electric vehicles in the third quarter, the company said last month, equaling a loss of $36,000 on every vehicle it sold.
In June, Tesla, which sources key parts from China, submitted comments to the government arguing that the coming restrictions on foreign entities should be less restrictive. The limits on foreign purchases should be confined to major battery parts, like the cathode and anode, not the various minerals or other parts used to make them, Tesla proposed.
In the worst case, said Albert Gore III, executive director of the Zero Emission Transportation Association, “you can have vehicles made in the U.S., with the vast majority of parts coming from the U.S., that could be disqualified from the tax credit because a single part comes from China.” Mr. Gore, whose organization counts Tesla as well as battery makers as members, said he expected the administration to strike a balance.
In contrast, miners and other makers of battery materials and components say that allowing China to supply cheap parts could open the United States to a flood of foreign products. That would ensure that the United States was merely an assembly point for Chinese-made technology and products, and leave the U.S. economy highly vulnerable, they say.
Talon Metals, which is seeking approval for a nickel mine in Minnesota, is watching whether a tax credit for companies’ operating costs applies to mines producing much-needed battery minerals.Credit...Tim Gruber for The New York Times
So far, the climate law appears to have done more to stimulate investment in factories to make electric vehicles and their batteries than in the mines and facilities that produce the minerals, chemicals and smaller components that go into the battery itself.
In fact, the only cobalt mine planned in the United States, owned by Jervois in Idaho, temporarily closed this year. The company blamed cratering prices, caused by a new rush of material produced by China. Jervois restarted some exploratory drilling this fall, thanks to new funding from the Defense Department.
Until the final rules are issued, some companies have halted plans for new U.S. investment, conscious that their business calculations could change significantly in the coming months.
“You’re seeing a bit of a holding pattern until the final guidance is released by the administration,” said Abigail Seadler Wulf, the vice president and director of critical minerals strategy at Securing America’s Future Energy, a nonprofit organization.
Mr. Huntsman said that unless the government restricted the use of Chinese materials, there was no point in investing further in the company’s Texas project. He said the Chinese government was heavily subsidizing the production of ethylene carbonate, allowing Chinese firms that account for 90 percent of the global production of the chemical to sell it so cheaply.
“The question, really, is how does the United States want to respond to this?” he asked.
Alan Rappeport contributed reporting.
Ana Swanson is based in the Washington bureau and covers trade and international economics for The Times. She previously worked at The Washington Post, where she wrote about trade, the Federal Reserve and the economy. More about Ana Swanson
A version of this article appears in print on , Section B, Page 1 of the New York edition with the headline: Electric Cars Face Rules On China. Order Reprints | Today’s Paper | Subscribe
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New York, United States , Nov. 29, 2023 (GLOBE NEWSWIRE) -- The Global Automotive Lightweight Materials Market Size is to grow from USD 72.16 Billion in 2022 to USD 137.8 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.7% during the projected period. The rising adoption of lightweight materials in various applications such as body in white, chassis and suspension, powertrains, closures, interiors, and others in vehicle types including passenger vehicles, light commercial vehicles, and heavy commercial vehicles are expected to boost the demand for the automotive lightweight materials market during the forecast period.
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Manufacturers have developed lightweight automobiles in response to the ever-increasing difficulties connected with improving fuel efficiency and lowering greenhouse gas emissions. Furthermore, weight reduction may increase the practicality of recycling as well as the vehicle's performance. Automobile makers are always exploring new materials to improve vehicle safety, vibration and sound insulation, and engine performance, with the majority of these advancements focusing on lightweight. Although steel was once the only material used in automobiles, manufacturers are increasingly transitioning to aluminum, the most rapidly developing lightweight material, as well as magnesium and composite materials that provide greater efficiency. The global automotive lightweight materials market is predicted to grow due to factors such as increased weights due to advancements in comfort, safety, and pollution-control systems in order to fulfill stringent emission, safety, and fuel economy criteria around the world.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Automotive Lightweight Materials Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Metal, Composite, Plastic, Elastomer, Others), By Application (Body in White, Chassis and Suspension, Powertrains, Closures, Interiors, Others), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The metal segment is dominating the market with the largest revenue share over the forecast period.
On the basis of material type, the global automotive lightweight materials market is segmented into the metal, composite, plastic, elastomer, and others. Among these, the metal segment is dominating the market with the largest revenue share of 52% over the forecast period. This is primarily owing to the use of lightweight metals in the overall structures and chassis of electric vehicles. Metallic structures in automobiles give stability and long-term durability and are thus used to improve vehicle integrity.
The passenger vehicles segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of vehicle type, the global automotive lightweight materials market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Among these, the passenger vehicles segment is dominating the market with the largest revenue share of 57.2% over the forecast period. This can be attributed to emerging countries' expanding middle-class populations, high-income levels, and purchasing power, which are expected to support the expansion of the passenger automobile segment, hence driving demand for lightweight vehicles.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This is primarily owing to the high demand for automobiles in countries such as China, India, and others. Another key driving element in this region is the growing demand for fuel-efficient and low-emission vehicles. On the other hand, North America is predicted to expand the fastest during the forecast period. The growth of the passenger car category is likely to benefit the region's automotive lightweight market. The region also houses the majority of the world's top automakers. During the forecast period, the Europe automotive lightweight materials market is expected to develop at a significant CAGR. Stringent pollution rules and a growing desire for environmentally friendly autos drive the demand for lightweight materials in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Automotive Lightweight Materials Market include Thyssenkrupp AG, Novelis, Inc., Alcoa Corporation, Owens Corning, Toray Industries, Inc., ArcelorMittal, BASF SE, Covestro AG, Magna International, 3M Company, Arconic Inc., DuPont de Nemours, Inc., General Motors Company, Nippon Steel Corporation, Sumitomo Chemical Co., Ltd., LyondellBasell Industries Holdings B.V., Stratasys Ltd., Tata Steel, POSCO, Covestro AG, PPG Industries, SABIC, and several others.
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Recent Developments
On March 2023, Solvay has revealed that its Battery Enclosure Materials Automation (BEMA) project, which aims to produce an all-composite solution for energy-efficient battery packs, has received significant funding from Innovate UK as part of UK Research and Innovation. BEMA is now undergoing pre-industrial testing and evaluation. Jaguar Land Rover and Vertical Aerospace have already written letters of support for this partnership with Airborne, a technical leader in advanced composites manufacturing through automation and digitalization.Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Automotive Lightweight Materials Market based on the below-mentioned segments:
Automotive Lightweight Materials Market, Material Type Analysis
Metal Composite Plastic Elastomer OthersAutomotive Lightweight Materials Market, Application Analysis
Body in White Chassis and Suspension Powertrains Closures Interiors OthersAutomotive Lightweight Materials Market, Vehicle Type Analysis
Passenger Vehicles Light Commercial Vehicles Heavy Commercial VehiclesAutomotive Lightweight Materials Market, Regional Analysis
North America US Canada Mexico Europe Germany Uk France Italy Spain Russia Rest of Europe Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific South America Brazil Argentina Rest of South America Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of Middle East & AfricaBrowse Related Reports
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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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University of Arkansas
UAPD holds car checks to increase travel safety for students, faculty and staff.
The U of A Police Department is taking extra steps to help keep students, faculty and staff safe when they travel off campus for the holidays. UAPD officers will conduct a basic check of lighting, fluids, tires, etc. from 8 a.m. to 5 p.m. Friday, Dec. 8, at 155 N. Razorback Rd. (Lot 47S).
All types of vehicles are welcome. UAPD officers are not licensed mechanics and are evaluating the safety of vehicles based on a visual inspection.
This service is offered at no charge; however, UAPD personnel encourage you to bring canned or nonperishable food items to donate to the Jane B. Gearhart Full Circle Food Pantry.
About UAPD: The University of Arkansas Police Department, in partnership with the community we serve, is dedicated to protecting and serving the future of Arkansas and beyond by embracing the philosophy of community policing and promoting a safe and secure environment through excellence, initiative and integrity.
Topics
Headlines
Take a journey through the cosmos in a mobile planetarium with space-related artifacts up close, including meteorites, during Space Night, 2-4:45 p.m. Friday, Dec. 1, at the U of A Museum on Hatch Avenue.
These funds will support the monographs and research production from humanities scholars that contribute to the university's high research productivity standing.
Terrell Jake Dionne, assistant professor of communication, was named the recipient of the 2023 Jennifer Bender Rookie Advisor of the Year Award by the National Communication Association.
The Mid-America Arts Alliance awarded Joaquín Gavilano, a third-year M.F.A. student, with a Student Artist grant and alumna Julia Paginelli-Marin with a Community Activator grant.
A Fellow of the Landscape Institute, Smith sees U of A landscape architecture students outperforming most of their peers in the central states and landing positions across the U.S. and overseas.
News Daily
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NEW YORK, Nov. 29, 2023 /PRNewswire/ -- The automotive window power sunshade market is estimated to grow by USD 1.40 billion from 2022 to 2027, growing at a CAGR of 15.74%. The automotive window power sunshade market is concentrated owing to the presence of many global and regional companies. A few prominent companies that offer automotive window power sunshade market are Ashimori Industry Co. Ltd., BOS GmbH and Co. KG, CIE Automotive SA, Eclipse SunShades, Honda Motor Co. Ltd., Inalfa Roof Systems Group B.V., Inteva Products LLC, KK Motors Inc., MACAUTO INDUSTRIAL Co. Ltd., Vaccess India Pvt. Ltd., and Webasto SE. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
Company Offering:
Ashimori Industry Co. Ltd. - The company offers automotive window power sunshades, including manual and electric sunshades, for passenger cars and commercial vehicles. BOS GmbH and Co. KG - The company offers automotive window power sunshades such as integrated front and rear window sunshades. CIE Automotive SA - The company offers automotive window power sunshades such as lateral and rear panoramic sunshades, under the subsidiary, ACS Shanghai Co. Ltd. For details on companies and their offerings – Buy the report!By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. North America will account for 40% of the growth of the global market during the forecast period. The growing preference for personal transport among the US population results in the increasing adoption of technologies that offer comfort, thereby fuelling the market for automotive window power sunshades. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
Impactful driver- Window power sunshades maximize HVAC efficiency Key Trend - Automatic down retraction of sunshades on reverse gear engagement Major Challenges - Slowdown in automobile sales in developed countriesMarket Segmentation
The luxury passenger vehicle segment will contribute the largest share of the market. Various automotive manufacturers initially launched their advanced innovative features in this segment and then eventually integrated them into the mid-size and entry-level passenger vehicle segments. Such strategies are fuelled by the low price sensitivity of the target customer base, which offers numerous opportunities for OEMs to experiment with new technologies without stressing their commercial viability.Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report
Related Reports:
The automotive power window motor market size is expected to increase to USD 5.06 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.74%.
The automotive active seat belt system market size is estimated to grow at a CAGR of 6.3% between 2022 and 2027. The market size is forecast to increase by USD 1,941.4 million.
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Automotive Window Power Sunshade Market Scope |
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Report Coverage |
Details |
|
Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.74% |
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YoY growth 2022-2023 (%) |
15.36 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key countries |
US, China, Japan, Germany, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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Free Review:
If you are looking to increase your insurance coverage on your vehicle, the insurance company may require you to obtain a certified auto appraisal. If you have a custom car, truck or motorcycle, the insurance company won't pay you more than book value. Get a stated value appraisal to cover money spent customizing your vehicle. Have a collector or exotic vehicle? Book value does not justify the vehicle value In case you are in an accident, have a certified auto appraisal done. Contact us today for a Free Evaluation!
Pinnacle Auto Appraisers Will Professionally Evaluate Your Vehicle!
FLEET VEHICLES:
Pinnacle Auto Appraisers prides itself on quickly handling large amounts of vehicles. We routinely handle fleets for: vans, trucking, limousine, shuttle, buses, SUV, corporate, taxi, dealership, clubs, rental, and delivery companies. We handle large national chains, small family businesses, and car club appraisal(s).
Accident:
If you were involved in an accident and the insurance company deemed your vehicle a total loss, we can help. If you don't agree with the insurance company's offer, you have the right to hire an independent certified appraiser to determine the actual cash value of your vehicle. Our certified appraiser will go to the vehicle location, conduct the inspection and complete a certified total loss appraisal on your vehicle. Total loss claims do require a negotiation phase which we will take care of for you at no additional charge!
CAR CLUBS & REPAIR SHOPS:
Our Appraisers are repair shop and car club fanatics! We enjoy when local and national clubs invite us out to their local gatherings. We offer an appraisal discount that lasted all month. We love everything that has an engine and drives on the road. We do our best to help everyone in need of an appraisal!
Pinnacle Auto Appraisers - We Value Car Clubs and Repair Shops!
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Welcome: Pinnacle Auto Appraisers is a National Auto Appraisal Company. We look forward to helping individuals, small business, investors, and large companies through the "how-to" and "processes" involved with car appraisals.
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