Cox Automotive
| Use attributes for filter ! | |
| Headquarters | Atlanta |
|---|---|
| Georgia | |
| United States | |
| Parent organizations | Cox Enterprises |
| Revenue | 7 billion USD (2017) |
| Number of employees | 34,000 (2020) |
| Presidents | Sanford Schwartz |
| Subsidiaries | Kelley Blue Book |
| Autotrader | |
| Manheim Auctions | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2607508 |
About Cox Automotive
Cox Automotive is an Atlanta-based business unit of Cox Enterprises, formed in 2014 to consolidate all of Cox's global automotive businesses, including Kelley Blue Book, Xtime, Autotrader. com and Manheim.
Electric cars: Firms still forced to sell more despite petrol ban delay
... Motor industry analyst Philip Nothard, insight and strategy director at Cox Automotive, told the BBC the targets for electric car sales was " arguably a greater influence" on the market than delaying the ban on new internal combustion engine vehicles...
The new way to buy a car without ever leaving your sofa
... Philip Nothard, insight and strategy director at Cox Automotive, says there has been disruption on the market " where it s all about online, it s all about efficiency" but believes there is still a need for showrooms and demand from consumers to physically see cars...
Electric cars: Firms still forced to sell more despite petrol ban delay
By Michael Race & Theo LeggettBBC News
Car firms will still be forced to meet strict quotas for selling electric cars despite the ban on sales of new petrol and diesel vehicles being delayed.
From January, just over a fifth of vehicles sold must be electric, with The Target expected to hit 80% by 2030.
If they fail to hit The Target , manufacturers will face heavy fines of up to £15,000 a car.
The rule comes despite the ban on sales of new petrol and diesel cars being pushed back by five years to 2035.
Business secretary Kemi Badenoch confirmed to The Bbc the so-called Zero Emissions Vehicle (ZEV) mandate, requiring car firms to make sure 22% of The Cars sold must be electric next year and increasing each year after that, would remain in place.
Forcing firms to hit The Target on electric vehicle sales, while pushing back the ban on new petrol and diesel car sales is going to make it harder for firms to sell the electric ones, one large manufacturer told The Bbc .
If a car maker fails to hit the targets, it will either face fines of £15,000 per vehicle, or have to buy a surplus credit from a company that has sold lots of electric vehicles. However, a firm could claim back penalties if it surpasses The Quota in future.
Motor industry analyst Philip Nothard, insight and strategy director at Cox Automotive , told The Bbc the targets for Electric Car sales was " arguably a greater influence" on The Market than delaying the ban on new Internal Combustion engine vehicles.
But He Said " at least" Mr Sunak's move to push back the ban by five years meant the UK was aligned with the European Union .
Mr Nothard added that because many carmakers were already committed to hybrid and electric-only ranges based on the government's previous 2030 policy, greener vehicles might be more attractive to buyers in terms of price because consumers would face a " limited choice" of new petrol and diesel cars, causing the prices of those vehicles to rise.
Prime Minister Rishi Sunak insisted to The Bbc on Thursday that the UK would met its net zero targets despite The Change to is green plans.
Car manufacturers were split on the decision. Ford said The Move undermined its Electric Car investment plans, but Toyota welcomed The Announcement , saying The Delay was " pragmatic".
What's the policy now?Prior to Mr Sunak announcing a shift in policy, the government had planned to ban the sale of new, pure petrol and diesel vehicles by 2030. Now, it will begin in 2035.
By phasing out fossil fuel-powered vehicle sales, it aims to accelerate the transition to electric an achieve net zero by 2050. Net zero is when a country's net carbon emissions are cut to zero, and is seen as vital to tackling Climate Change .
Under the ban, from 2035 only electric battery-powered cars and certain hybrids will be able to be bought new. However, Most People will not be affected by the ban immediately, as the majority of drivers buy vehicles Second Hand and only sales of new petrol and diesel models would be affected - not existing ones.
Related TopicsSource of news: bbc.com
