In a move to redefine its future, used car digital marketplace Vroom on Tuesday (Sept. 23) said it completed the wind-down of its eCommerce and used vehicle dealership operations and released a long-term strategic plan leveraging its assets like United Auto Credit Corporation (UACC), a leading automotive finance company; and CarStory, a leader in AI-powered analytics and digital services for automotive retail.
\nIn January, Vroom officials announced a Value Maximization Plan, which discontinued the company\u2019s eCommerce operations and wound down its used vehicle dealership. As part of the Value Maximization Plan approved by Vroom\u2019s board of directors, the company will suspend transactions on vroom.com, sell its existing used vehicle inventory through wholesale channels, stop acquiring additional vehicles and implement a workforce reduction in line with its scaled-back operations.
\nIncluded among Vroom\u2019s long-term strategic initiatives are building a world-class lending program, along with a sales and marketing program, create operational excellence in originations, build operational excellence in servicing to achieve pre-COVID cumulative net losses and lower operating costs.
\nUACC and CarStory, both leaders in their respective spaces, will continue to serve their third-party customers and focus on growing those businesses, according to the strategic plan.
\n\u201cWe believe our Vroom IP and Tech Stack have the potential to create value for our business and continue to explore opportunities to monetize these assets through asset sales, licensing and a SaaS model,\u201d according to the plan.
\nVroom\u2019s long-term strategy is designed to transform the automotive retail landscape, the plan said, with a keen focus on technology and customer experience. The company aims to streamline its operations by divesting non-core segments and focus on what it does best: facilitating seamless vehicle transactions.
\nAt the heart of Vroom\u2019s strategy is the integration of advanced technology, according to its plan. By harnessing data analytics, the company seeks to better understand customer preferences and optimize its inventory management. This technological infusion extends to artificial intelligence and machine learning, which promise to simplify the vehicle purchasing process and improve customer satisfaction.
\nA cornerstone of Vroom\u2019s approach is its commitment to customer experience, according to the strategic plan. The company strives to make buying and selling vehicles as transparent and hassle-free as possible. Key features, such as home delivery, a seven-day return policy, and thorough vehicle inspections, are designed to build trust with consumers and encourage repeat business.
\nTo sharpen its focus, the plan calls for Vroom to make strategic divestitures. This decision allows the company to channel resources more effectively into enhancing its online platform and improving customer service. Company officials aim to diversify their revenue streams beyond just vehicle sales. The company is expanding its financing options and exploring partnerships that enrich the customer experience, offering services such as warranties and vehicle accessories to create loyalty.
\nAnother part of the plan is geographic expansion. The company is strategically investing in logistics and distribution networks to strengthen its presence in key markets, driving sales and increasing brand recognition.
\nVroom\u2019s long-term plan focuses on enhancing its operations and customer experience by emphasizing the benefits of online vehicle purchasing through strategic marketing. The company\u2019s strategy centers on innovation and customer satisfaction, with a goal of growing its revenue streams and forming partnerships within the automotive ecosystem.
\nThe post Vroom Completes Business Wind-Down; Shifts Focus to Core Assets appeared first on PYMNTS.com.
\n", "content_text": "In a move to redefine its future, used car digital marketplace Vroom on Tuesday (Sept. 23) said it completed the wind-down of its eCommerce and used vehicle dealership operations and released a long-term strategic plan leveraging its assets like United Auto Credit Corporation (UACC), a leading automotive finance company; and CarStory, a leader in AI-powered analytics and digital services for automotive retail.\nIn January, Vroom officials announced a Value Maximization Plan, which discontinued the company\u2019s eCommerce operations and wound down its used vehicle dealership. As part of the Value Maximization Plan approved by Vroom\u2019s board of directors, the company will suspend transactions on vroom.com, sell its existing used vehicle inventory through wholesale channels, stop acquiring additional vehicles and implement a workforce reduction in line with its scaled-back operations.\nIncluded among Vroom\u2019s long-term strategic initiatives are building a world-class lending program, along with a sales and marketing program, create operational excellence in originations, build operational excellence in servicing to achieve pre-COVID cumulative net losses and lower operating costs.\nUACC and CarStory, both leaders in their respective spaces, will continue to serve their third-party customers and focus on growing those businesses, according to the strategic plan.\n\u201cWe believe our Vroom IP and Tech Stack have the potential to create value for our business and continue to explore opportunities to monetize these assets through asset sales, licensing and a SaaS model,\u201d according to the plan.\nVroom\u2019s long-term strategy is designed to transform the automotive retail landscape, the plan said, with a keen focus on technology and customer experience. The company aims to streamline its operations by divesting non-core segments and focus on what it does best: facilitating seamless vehicle transactions.\nAt the heart of Vroom\u2019s strategy is the integration of advanced technology, according to its plan. By harnessing data analytics, the company seeks to better understand customer preferences and optimize its inventory management. This technological infusion extends to artificial intelligence and machine learning, which promise to simplify the vehicle purchasing process and improve customer satisfaction.\nA cornerstone of Vroom\u2019s approach is its commitment to customer experience, according to the strategic plan. The company strives to make buying and selling vehicles as transparent and hassle-free as possible. Key features, such as home delivery, a seven-day return policy, and thorough vehicle inspections, are designed to build trust with consumers and encourage repeat business.\nTo sharpen its focus, the plan calls for Vroom to make strategic divestitures. This decision allows the company to channel resources more effectively into enhancing its online platform and improving customer service. Company officials aim to diversify their revenue streams beyond just vehicle sales. The company is expanding its financing options and exploring partnerships that enrich the customer experience, offering services such as warranties and vehicle accessories to create loyalty.\nAnother part of the plan is geographic expansion. The company is strategically investing in logistics and distribution networks to strengthen its presence in key markets, driving sales and increasing brand recognition.\nVroom\u2019s long-term plan focuses on enhancing its operations and customer experience by emphasizing the benefits of online vehicle purchasing through strategic marketing. The company\u2019s strategy centers on innovation and customer satisfaction, with a goal of growing its revenue streams and forming partnerships within the automotive ecosystem.\nThe post Vroom Completes Business Wind-Down; Shifts Focus to Core Assets appeared first on PYMNTS.com.", "date_published": "2024-09-23T18:59:53-04:00", "date_modified": "2024-09-23T22:44:02-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/new-Vroom.jpg", "tags": [ "AI", "artificial intelligence", "automotive", "car dealerships", "car sales", "cars", "CarStory", "customer service", "ecommerce", "Featured News", "machine learning", "marketing", "News", "PYMNTS News", "Retail", "UACC", "United Auto Credit Corporation", "Vroom", "Transportation" ] }, { "id": "https://www.pymnts.com/?p=2081401", "url": "https://www.pymnts.com/transportation/2024/federal-funds-boost-ev-charging-infrastructure-but-scaling-production-faces-hurdles/", "title": "Federal Funds Boost EV Charging Infrastructure, but Scaling Production Faces Hurdles", "content_html": "While the federal government last month allocated an additional $521 million for electric vehicle (EV) charging infrastructure, challenges persist in scaling EV production to meet market expectations.
\nIn July Ford shifted its strategy for the Oakville Assembly plant in Canada, pivoting from its original plan to produce EVs to instead manufacture larger gasoline-powered versions of its popular F-Series pickup trucks. This delay is due to slower-than-expected EV demand. Despite the adjustment, Ford remains committed to EVs but has not announced alternative sites for future EV production.
\nFord led traditional automakers with a 61% increase in EV sales year over year, reaching 23,957 units. This surge contributed to the company\u2019s overall sales growth and cemented its position as the second-largest EV seller in the U.S., surpassing General Motors.
\nThis latest federal funding is part of the $7.5 billion program created as part of the 2022 Inflation Reduction Act, which aims to build out\u00a0fast chargers along interstate highways as well as bringing charging infrastructure to\u00a0underserved communities.
\nIn June 2023 Tesla secured a $3 billion boost following agreements with General Motors and Ford to adopt Tesla\u2019s North American Charging Standard (NACS) for their EVs. This deal highlights Tesla\u2019s edge, given that its network is more extensive and considered more reliable compared to the competing combined charging system (CCS).
\nTesla\u2019s network serves as the primary EV network in North America, covering about 70% of the EV market. Meanwhile,, CCS,\u00a0 American companies are also ramping up their EV charging capabilities. Walmart revealed in April plans to expand its fast-charging network across thousands of Walmart and Sam\u2019s Club locations, increasing the total to nearly 1,300 stations. Similarly, 7-Eleven announced in March its intention to build one of the largest retail EV fast-charging networks, adding stations across its 7-Eleven, Speedway, and Stripes locations.
\nDespite some reports of a slow rollout of EV chargers nationally, in an interview with PYMNTS a spokesman for the U.S. Department of Energy said \u201cWe are on track to achieve the president\u2019s goals years early. President Biden set a goal to build a network of 500,000 publicly available EV chargers to support the adoption of EVs and the development of a U.S. supply chain, creating good-paying jobs in manufacturing, installation, operations and maintenance in all pockets of the country.\u201d
\nAs of Aug. 27, according to the spokesperson, the U.S. had more than 192,500 EV chargers and 71,937 stations publicly available.\u00a0
\n\u201cNearly 1,000 new public chargers are turned on every week, thanks to a combination of direct federal funding, federal tax incentives, state and local funding, and private investment,\u201d the spokesperson said. \u201cWe expect to see hundreds of federally funded chargers operational this year, thousands next year, and hundreds of thousands of chargers by the end of the decade.\u201d\u00a0
\nFor new high-power stations benefiting from federal funding from the National Electric Vehicle Infrastructure Formula Program (NEVI), \u201cwe are right where we expected to be.\u201d\u202f
\nThe Bipartisan Infrastructure Law passed in late 2021, and states began planning their EV charging infrastructure deployment in mid-2022, the spokesperson noted.
\n\u201cWe released minimum standards for federally funded chargers in early 2023,\u201d the spokesperson explained. \u201cAfter laying the groundwork to set up the NEVI and Charging and Fueling Infrastructure (CFI) programs, states and localities are now in the driver\u2019s seat and all states are moving forward on implementing their federal EV charging funding. We are seeing a ramp up of infrastructure from federal dollars as the federal government passes money to state governments and state governments pass money to local governments and the private sector.\u201d\u00a0
\nFor high-speed chargers along highway corridors, it takes 12 to 18 months, on average, to build, commission and energize a station, the spokesperson noted. Federal funding will help speed up the process.
\n\u201cThe growing number of chargers shows progress, but the true measure of success is the convenience and reliability of the network, along with the coverage and capacity of stations to ensure every EV driver gets the charge they need when they need it,\u201d the spokesperson said. \u201cThe NEVI and CFI programs are designed to fill in gaps unmet by private investment and ensure reliable coverage along travel corridors and within communities so that rural and urban residents alike can have the choice to drive electric.\u00a0We are closing gaps fast.\u201d
\nWhen Biden took office, only 38% of the most heavily trafficked corridors had fast chargers at least every 50 miles, the spokesperson explained. Now, families can travel 57% of the most heavily trafficked corridors and expect a fast charger at least every 50 miles. By the end of next year, the spokesperson expects 70% of those corridors to be covered.\u00a0\u00a0
\nCurrently, 80% of charging happens at home. For the other 20%, according to the spokesperson, \u201cWe are building a robust network of Level 2 charging close to home and at key destinations. For longer trips, this means making sure a network of fast charging is available along highway corridors.\u201d
\nIn the past year EV sales have slowed amid concerns among consumers about recharging as investors wait patiently to see profits.
\nThe Federal Highway Administration released final standards for EV charging infrastructure funded by the NEVI program. These standards aim to create a nationwide, reliable network, support U.S. leadership in EV adoption, and generate skilled jobs by ensuring transparency and equity in the charging infrastructure.
\n\n
The post Federal Funds Boost EV Charging Infrastructure, but Scaling Production Faces Hurdles appeared first on PYMNTS.com.
\n", "content_text": "While the federal government last month allocated an additional $521 million for electric vehicle (EV) charging infrastructure, challenges persist in scaling EV production to meet market expectations.\nIn July Ford shifted its strategy for the Oakville Assembly plant in Canada, pivoting from its original plan to produce EVs to instead manufacture larger gasoline-powered versions of its popular F-Series pickup trucks. This delay is due to slower-than-expected EV demand. Despite the adjustment, Ford remains committed to EVs but has not announced alternative sites for future EV production.\nFord led traditional automakers with a 61% increase in EV sales year over year, reaching 23,957 units. This surge contributed to the company\u2019s overall sales growth and cemented its position as the second-largest EV seller in the U.S., surpassing General Motors.\nThis latest federal funding is part of the $7.5 billion program created as part of the 2022 Inflation Reduction Act, which aims to build out\u00a0fast chargers along interstate highways as well as bringing charging infrastructure to\u00a0underserved communities.\nIn June 2023 Tesla secured a $3 billion boost following agreements with General Motors and Ford to adopt Tesla\u2019s North American Charging Standard (NACS) for their EVs. This deal highlights Tesla\u2019s edge, given that its network is more extensive and considered more reliable compared to the competing combined charging system (CCS).\nTesla\u2019s network serves as the primary EV network in North America, covering about 70% of the EV market. Meanwhile,, CCS,\u00a0 American companies are also ramping up their EV charging capabilities. Walmart revealed in April plans to expand its fast-charging network across thousands of Walmart and Sam\u2019s Club locations, increasing the total to nearly 1,300 stations. Similarly, 7-Eleven announced in March its intention to build one of the largest retail EV fast-charging networks, adding stations across its 7-Eleven, Speedway, and Stripes locations.\nDespite some reports of a slow rollout of EV chargers nationally, in an interview with PYMNTS a spokesman for the U.S. Department of Energy said \u201cWe are on track to achieve the president\u2019s goals years early. President Biden set a goal to build a network of 500,000 publicly available EV chargers to support the adoption of EVs and the development of a U.S. supply chain, creating good-paying jobs in manufacturing, installation, operations and maintenance in all pockets of the country.\u201d\nAs of Aug. 27, according to the spokesperson, the U.S. had more than 192,500 EV chargers and 71,937 stations publicly available.\u00a0\n\u201cNearly 1,000 new public chargers are turned on every week, thanks to a combination of direct federal funding, federal tax incentives, state and local funding, and private investment,\u201d the spokesperson said. \u201cWe expect to see hundreds of federally funded chargers operational this year, thousands next year, and hundreds of thousands of chargers by the end of the decade.\u201d\u00a0\nFor new high-power stations benefiting from federal funding from the National Electric Vehicle Infrastructure Formula Program (NEVI), \u201cwe are right where we expected to be.\u201d\u202f\nThe Bipartisan Infrastructure Law passed in late 2021, and states began planning their EV charging infrastructure deployment in mid-2022, the spokesperson noted. \n\u201cWe released minimum standards for federally funded chargers in early 2023,\u201d the spokesperson explained. \u201cAfter laying the groundwork to set up the NEVI and Charging and Fueling Infrastructure (CFI) programs, states and localities are now in the driver\u2019s seat and all states are moving forward on implementing their federal EV charging funding. We are seeing a ramp up of infrastructure from federal dollars as the federal government passes money to state governments and state governments pass money to local governments and the private sector.\u201d\u00a0\nFor high-speed chargers along highway corridors, it takes 12 to 18 months, on average, to build, commission and energize a station, the spokesperson noted. Federal funding will help speed up the process.\n\u201cThe growing number of chargers shows progress, but the true measure of success is the convenience and reliability of the network, along with the coverage and capacity of stations to ensure every EV driver gets the charge they need when they need it,\u201d the spokesperson said. \u201cThe NEVI and CFI programs are designed to fill in gaps unmet by private investment and ensure reliable coverage along travel corridors and within communities so that rural and urban residents alike can have the choice to drive electric.\u00a0We are closing gaps fast.\u201d\nWhen Biden took office, only 38% of the most heavily trafficked corridors had fast chargers at least every 50 miles, the spokesperson explained. Now, families can travel 57% of the most heavily trafficked corridors and expect a fast charger at least every 50 miles. By the end of next year, the spokesperson expects 70% of those corridors to be covered.\u00a0\u00a0\nCurrently, 80% of charging happens at home. For the other 20%, according to the spokesperson, \u201cWe are building a robust network of Level 2 charging close to home and at key destinations. For longer trips, this means making sure a network of fast charging is available along highway corridors.\u201d\nIn the past year EV sales have slowed amid concerns among consumers about recharging as investors wait patiently to see profits.\nThe Federal Highway Administration released final standards for EV charging infrastructure funded by the NEVI program. These standards aim to create a nationwide, reliable network, support U.S. leadership in EV adoption, and generate skilled jobs by ensuring transparency and equity in the charging infrastructure.\n \nThe post Federal Funds Boost EV Charging Infrastructure, but Scaling Production Faces Hurdles appeared first on PYMNTS.com.", "date_published": "2024-09-04T16:22:41-04:00", "date_modified": "2024-09-04T16:22:41-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/EV-charging-station.jpg", "tags": [ "7-Eleven", "Bipartisan Infrastructure Law", "CCS", "CFI", "Charging and Fueling Infrastructure", "combined charging system", "department of energy", "electric vehicles", "EV charging stations", "EV infrastructure", "EVs", "fast chargers", "Inflation Reduction Act", "NACS", "National Electric Vehicle Infrastructure Formula Program", "NEVI", "News", "North American Charging Standard", "PYMNTS News", "Tesla", "Transportation", "walmart" ] }, { "id": "https://www.pymnts.com/?p=2078608", "url": "https://www.pymnts.com/transportation/2024/can-robotaxis-accelerate-the-future-of-automated-driving/", "title": "Can Robotaxis Accelerate the Future of Automated Driving?", "content_html": "Fifteen years ago, Uber disrupted and transformed ride hailing.
\nUber, one of the platform economy\u2019s original giants, announced\u00a0Thursday (Aug. 29) that is making a strategic investment in autonomous driving software provider Wayve, agreeing to put self-driving vehicles powered by Wayve\u2019s software on the Uber platform in multiple markets around the world \u2014 at a date to be determined. Observers are wondering whether robotaxis represent the tip of autonomous and self-driving innovation.
\n\u201cWayve\u2019s advanced embodied AI [artificial intelligence] approach holds a ton of promise as we work towards a world where modern vehicles are shared, electric and autonomous,\u201d Uber CEO Dara Khosrowshahi said.
\nStill, Uber and Wayve are far from the only companies pushing ahead with robotaxi initiatives. As recently as Tuesday (Aug. 27), Google-owned Waymo began offering 24/7 robotaxi service at the Phoenix Sky Harbor International Airport.
\nAnd it\u2019s all happening as Tesla is planning, at least according to the firm\u2019s latest timeline, to launch its own robotaxi in just a few weeks, this October. Of course, Tesla CEO Elon Musk had earlier predicted in 2019 that Tesla would\u00a0launch a robotaxi by 2020.
\nThese companies have poured billions into developing self-driving vehicle technologies, each vying for a piece of what they believe will be a lucrative market. But a critical question arises: Are robotaxis truly the future of self-driving cars, or is the promise of fully autonomous transportation still more hype than reality?
\nRead more: Google\u2019s $5 Billion Bet on the Bumpy Road to Self-Driving Cars
\nAutonomous vehicles (AVs) have been heralded as a transformation for the transportation industry, promising safer roads, reduced congestion, and enhanced mobility for all. Central to this vision is robotaxis \u2014 self-driving vehicles that operate as ride-hailing services.
\nThe robotaxi embodies the ideal of fully autonomous vehicles operating in a shared, on-demand economy. Theoretically, these vehicles could revolutionize urban transportation by offering a convenient, cost-effective alternative to car ownership.
\nRobotaxis are also commonly seen as a solution to the \u201cfirst-mile/last-mile\u201d problem in public transportation, providing a link between mass transit hubs and final destinations. This could lead to increased public transit use, reduced dependence on personal vehicles, and a more sustainable urban environment.
\nDespite the optimism surrounding robotaxis, the road to full autonomy has been anything but smooth. The development of self-driving technology is a complex and costly endeavor, requiring advancements in artificial intelligence, sensor technology, and vehicle-to-everything (V2X) communication. While companies like Waymo have achieved milestones \u2014 such as launching a fully autonomous ride-hailing service in select areas \u2014 these services are still limited in scope and geography.
\nUnderscoring the challenges,\u00a0Hyundai-backed self-driving car startup\u00a0Motional announced in May that it was delaying its\u00a0driverless taxi fleet, explaining that \u201clarge-scale deployment of AVs remains a goal for the future, not the present.\u201d
\nRead also:\u00a0From Factories to the Fast Lane, Unpacking Autonomy\u2019s Potential
\nFor robotaxis to be widely adopted, the payment process must be integrated into the ride-hailing experience. Users expect a frictionless, cashless payment system, similar to the embedded experience they enjoy across with current ride-hailing platforms.
\nWith the absence of a human driver, robotaxis might need to incorporate autonomous transaction systems for additional services, such as in-ride purchases (e.g., snacks, entertainment, Wi-Fi). The vehicle itself could act as a point-of-sale terminal, processing transactions automatically.
\n\u201cIt\u2019s a new market. We do not have transactions right now inside cars. None of us are familiar with what it would even mean. Therefore, when we talk about launching a new category like in-vehicle payments, we have to make it as convenient as our existing payment methods,\u201d Evgeny Klochikhin, founder and CEO at\u00a0Sheeva.AI, for the \u201cAI Effect\u201d series.
\nAnd payments could play a vital role in the business-to-business (B2B) aspect of robotaxis, particularly in managing fleet operations. This includes payments for maintenance services, fuel or energy (in the case of electric vehicles), and other logistical expenses. Automated payment systems that handle these transactions efficiently are critical to keeping the fleet operational and cost-effective.
\nUltimately, payments in robotaxis aren\u2019t just about the ride itself. The data generated by these vehicles \u2014 such as user preferences, travel patterns, and in-vehicle purchases \u2014 can be monetized. Companies might develop new revenue streams by selling anonymized data to third parties or using it to offer targeted services and advertising, all of which require a robust payment infrastructure.
\nThe post Can Robotaxis Accelerate the Future of Automated Driving? appeared first on PYMNTS.com.
\n", "content_text": "Fifteen years ago, Uber disrupted and transformed ride hailing.\nUber, one of the platform economy\u2019s original giants, announced\u00a0Thursday (Aug. 29) that is making a strategic investment in autonomous driving software provider Wayve, agreeing to put self-driving vehicles powered by Wayve\u2019s software on the Uber platform in multiple markets around the world \u2014 at a date to be determined. Observers are wondering whether robotaxis represent the tip of autonomous and self-driving innovation.\n\u201cWayve\u2019s advanced embodied AI [artificial intelligence] approach holds a ton of promise as we work towards a world where modern vehicles are shared, electric and autonomous,\u201d Uber CEO Dara Khosrowshahi said.\nStill, Uber and Wayve are far from the only companies pushing ahead with robotaxi initiatives. As recently as Tuesday (Aug. 27), Google-owned Waymo began offering 24/7 robotaxi service at the Phoenix Sky Harbor International Airport.\nAnd it\u2019s all happening as Tesla is planning, at least according to the firm\u2019s latest timeline, to launch its own robotaxi in just a few weeks, this October. Of course, Tesla CEO Elon Musk had earlier predicted in 2019 that Tesla would\u00a0launch a robotaxi by 2020.\nThese companies have poured billions into developing self-driving vehicle technologies, each vying for a piece of what they believe will be a lucrative market. But a critical question arises: Are robotaxis truly the future of self-driving cars, or is the promise of fully autonomous transportation still more hype than reality?\nRead more: Google\u2019s $5 Billion Bet on the Bumpy Road to Self-Driving Cars\nRobotaxis and the Future of Autonomy\nAutonomous vehicles (AVs) have been heralded as a transformation for the transportation industry, promising safer roads, reduced congestion, and enhanced mobility for all. Central to this vision is robotaxis \u2014 self-driving vehicles that operate as ride-hailing services.\nThe robotaxi embodies the ideal of fully autonomous vehicles operating in a shared, on-demand economy. Theoretically, these vehicles could revolutionize urban transportation by offering a convenient, cost-effective alternative to car ownership.\nRobotaxis are also commonly seen as a solution to the \u201cfirst-mile/last-mile\u201d problem in public transportation, providing a link between mass transit hubs and final destinations. This could lead to increased public transit use, reduced dependence on personal vehicles, and a more sustainable urban environment.\nDespite the optimism surrounding robotaxis, the road to full autonomy has been anything but smooth. The development of self-driving technology is a complex and costly endeavor, requiring advancements in artificial intelligence, sensor technology, and vehicle-to-everything (V2X) communication. While companies like Waymo have achieved milestones \u2014 such as launching a fully autonomous ride-hailing service in select areas \u2014 these services are still limited in scope and geography.\nUnderscoring the challenges,\u00a0Hyundai-backed self-driving car startup\u00a0Motional announced in May that it was delaying its\u00a0driverless taxi fleet, explaining that \u201clarge-scale deployment of AVs remains a goal for the future, not the present.\u201d\nRead also:\u00a0From Factories to the Fast Lane, Unpacking Autonomy\u2019s Potential\nWhere Payments Play in Robotaxis\nFor robotaxis to be widely adopted, the payment process must be integrated into the ride-hailing experience. Users expect a frictionless, cashless payment system, similar to the embedded experience they enjoy across with current ride-hailing platforms.\nWith the absence of a human driver, robotaxis might need to incorporate autonomous transaction systems for additional services, such as in-ride purchases (e.g., snacks, entertainment, Wi-Fi). The vehicle itself could act as a point-of-sale terminal, processing transactions automatically.\n\u201cIt\u2019s a new market. We do not have transactions right now inside cars. None of us are familiar with what it would even mean. Therefore, when we talk about launching a new category like in-vehicle payments, we have to make it as convenient as our existing payment methods,\u201d Evgeny Klochikhin, founder and CEO at\u00a0Sheeva.AI, for the \u201cAI Effect\u201d series.\nAnd payments could play a vital role in the business-to-business (B2B) aspect of robotaxis, particularly in managing fleet operations. This includes payments for maintenance services, fuel or energy (in the case of electric vehicles), and other logistical expenses. Automated payment systems that handle these transactions efficiently are critical to keeping the fleet operational and cost-effective.\nUltimately, payments in robotaxis aren\u2019t just about the ride itself. The data generated by these vehicles \u2014 such as user preferences, travel patterns, and in-vehicle purchases \u2014 can be monetized. Companies might develop new revenue streams by selling anonymized data to third parties or using it to offer targeted services and advertising, all of which require a robust payment infrastructure.\nThe post Can Robotaxis Accelerate the Future of Automated Driving? appeared first on PYMNTS.com.", "date_published": "2024-09-01T20:57:31-04:00", "date_modified": "2024-09-01T20:57:31-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/robotaxi.jpg", "tags": [ "Autonomous vehicles", "first-mile last mile problem", "Hyundai", "Motional", "News", "PYMNTS News", "Robotaxis", "Self-Driving Cars", "Transportation", "Uber", "Waymo", "Wayve" ] }, { "id": "https://www.pymnts.com/?p=2017931", "url": "https://www.pymnts.com/transportation/2024/automakers-face-roadblocks-in-switching-to-electric-vehicles/", "title": "Automakers Face Roadblocks in Switching to Electric Vehicles", "content_html": "The automotive industry is facing an obstacle in switching to electric vehicles: traditional cars.
\nAs The Wall Street Journal (WSJ) reported Sunday (July 28), pressures on car company profits only add to the challenge of embracing electric vehicles (EVs), with several major automakers recently releasing earnings that missed market expectations.
\nAmong the issues: warranty expenses, overstocked vehicle inventory, and problems with overseas operations. On top of that, the report said, investors are worried that the robust pricing power car companies had during the pandemic is waning.\u00a0
\n\u201cThe results of our competitors are not demonstrating that price pressure is going to vanish,\u201d said Carlos Tavares, chief executive of Stellantis.
\nThe report also noted that Wall Street\u2019s enthusiasm for car companies\u2019 connected car/EV ambitions have faded as well, as demand for electric cars hasn\u2019t taken off as much as expected.
\n\u201cThe overarching feeling for the auto industry is that the good times can\u2019t last,\u201d said Martin French, managing director at auto consulting firm Berylls Strategy Advisors.
\nIn one example of the way carmakers are putting their EV ambitions on hold, Ford announced last week a revised strategy for its Oakville Assembly plant in Canada. That facility was initially designed for EV production, and will now focus on manufacturing larger gasoline-powered versions of Ford\u2019s popular F-Series pickup trucks.
\nAs PYMNTS noted, this marks a shift from Ford\u2019s original intention to launch three-row electric SUVs at Oakville in 2027, a delay attributed to slower-than-expected growth in EV demand.
\nAnd as that report asked, where do developments like these leave the future of EV sales? Jennifer Weiss, co-director, NC Clean Energy Fund, said that educating the public about the benefits of EVs is critical to making them a serious consideration for consumers.
\n\u201cWe have a huge hurdle right now getting people to test drive and trying things out and realizing they can do what they do on a daily basis with an electric vehicle,\u201d she said.
\n\u201cDealerships right now don\u2019t have a lot of electric vehicles on the lots. It\u2019s the chicken and the egg. Until we see a lot more of the electric vehicles actually on the lots so people can test drive them and compare them to a traditional fuel vehicle, I think we have a little bit more of an uphill climb.\u201d
\nThe post Automakers Face Roadblocks in Switching to Electric Vehicles appeared first on PYMNTS.com.
\n", "content_text": "The automotive industry is facing an obstacle in switching to electric vehicles: traditional cars.\nAs The Wall Street Journal (WSJ) reported Sunday (July 28), pressures on car company profits only add to the challenge of embracing electric vehicles (EVs), with several major automakers recently releasing earnings that missed market expectations.\nAmong the issues: warranty expenses, overstocked vehicle inventory, and problems with overseas operations. On top of that, the report said, investors are worried that the robust pricing power car companies had during the pandemic is waning.\u00a0\n\u201cThe results of our competitors are not demonstrating that price pressure is going to vanish,\u201d said Carlos Tavares, chief executive of Stellantis.\nThe report also noted that Wall Street\u2019s enthusiasm for car companies\u2019 connected car/EV ambitions have faded as well, as demand for electric cars hasn\u2019t taken off as much as expected.\n\u201cThe overarching feeling for the auto industry is that the good times can\u2019t last,\u201d said Martin French, managing director at auto consulting firm Berylls Strategy Advisors.\nIn one example of the way carmakers are putting their EV ambitions on hold, Ford announced last week a revised strategy for its Oakville Assembly plant in Canada. That facility was initially designed for EV production, and will now focus on manufacturing larger gasoline-powered versions of Ford\u2019s popular F-Series pickup trucks.\nAs PYMNTS noted, this marks a shift from Ford\u2019s original intention to launch three-row electric SUVs at Oakville in 2027, a delay attributed to slower-than-expected growth in EV demand.\nAnd as that report asked, where do developments like these leave the future of EV sales? Jennifer Weiss, co-director, NC Clean Energy Fund, said that educating the public about the benefits of EVs is critical to making them a serious consideration for consumers.\n\u201cWe have a huge hurdle right now getting people to test drive and trying things out and realizing they can do what they do on a daily basis with an electric vehicle,\u201d she said.\n\u201cDealerships right now don\u2019t have a lot of electric vehicles on the lots. It\u2019s the chicken and the egg. Until we see a lot more of the electric vehicles actually on the lots so people can test drive them and compare them to a traditional fuel vehicle, I think we have a little bit more of an uphill climb.\u201d\nThe post Automakers Face Roadblocks in Switching to Electric Vehicles appeared first on PYMNTS.com.", "date_published": "2024-07-28T20:01:47-04:00", "date_modified": "2024-07-28T20:03:59-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/electric-vehicles-ford-lightning.jpg", "tags": [ "automotive", "Berylls Strategy Advisors", "car sales", "Carlos Tavares", "electric cars", "electric vehicle sales", "electric vehicles", "EV Sales", "EVs", "Martin French", "News", "PYMNTS News", "Stellantis", "Transportation", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2017651", "url": "https://www.pymnts.com/transportation/2024/curbee-launches-platform-to-help-car-dealerships-add-mobile-service/", "title": "Curbee Launches Platform to Help Car Dealerships Add Mobile Service", "content_html": "Curbee has launched its software-as-a-service (SaaS) mobile service technology platform for car dealers nationwide.
\nThis move follows a successful limited launch of the platform in January, the company said in a Friday\u00a0(July 26)\u00a0press release.
\nThe company also said Friday that it has closed on additional funding, bringing its total amount of funding raised externally to $12 million.
\n\u201cOur vision at Curbee is to change car care for good,\u201d\u00a0Denise Leleux, CEO\u00a0of Curbee, said in the release. \u201cThe dealers who have been with us since the beginning of the year are reporting immediate success, to the extent that our investors have injected more funds, allowing us to scale to serve any dealer nationwide.\u201d
\nThe Curbee platform enables established dealerships to add a mobile service business to their existing operation, according to the release. It offers auto dealers an end-to-end mobile service solution that can integrate into existing dealer management software.
\nThe white-labeled mobile service experience offered by Curbee is designed to facilitate easy access for both dealership employees and customers, the release said. It features artificial intelligence (AI)-powered scheduling, predictive maintenance analytics, personalized customer communication tools and direct access to technician training and education programs.
\nCurbee built the platform based on its own experience running a mobile service operation, per the release. The company did so for three years, completing 20,000 visits across 9,000 consumer vehicles and 1,100 fleet and partner vehicles.
\n\u201cAt Curbee, our goals are aligned with those of our customer dealers: empowering them to offer excellent customer satisfaction, maximize revenue and sustain profitability by offering a service today\u2019s vehicle owners demand,\u201d Leleux said in the release. \u201cCurbee is focused on empowering dealerships to succeed in today\u2019s rapidly evolving automotive landscape.\u201d
\nConsumers and fleets alike are increasingly calling on\u00a0mobile service providers that enable them to have work done on their vehicles at their location, at the time that works best for them,\u00a0Wrench CEO\u00a0Ed Petersen told PYMNTS in an interview posted in June 2022.
\n\u201cWe talk to a lot of people, and whether it\u2019s the OEMs, the big independent repair shops or what have you, they know this is where the world is heading,\u201d Petersen said.
\nThe post Curbee Launches Platform to Help Car Dealerships Add Mobile Service appeared first on PYMNTS.com.
\n", "content_text": "Curbee has launched its software-as-a-service (SaaS) mobile service technology platform for car dealers nationwide.\nThis move follows a successful limited launch of the platform in January, the company said in a Friday\u00a0(July 26)\u00a0press release.\nThe company also said Friday that it has closed on additional funding, bringing its total amount of funding raised externally to $12 million.\n\u201cOur vision at Curbee is to change car care for good,\u201d\u00a0Denise Leleux, CEO\u00a0of Curbee, said in the release. \u201cThe dealers who have been with us since the beginning of the year are reporting immediate success, to the extent that our investors have injected more funds, allowing us to scale to serve any dealer nationwide.\u201d\nThe Curbee platform enables established dealerships to add a mobile service business to their existing operation, according to the release. It offers auto dealers an end-to-end mobile service solution that can integrate into existing dealer management software.\nThe white-labeled mobile service experience offered by Curbee is designed to facilitate easy access for both dealership employees and customers, the release said. It features artificial intelligence (AI)-powered scheduling, predictive maintenance analytics, personalized customer communication tools and direct access to technician training and education programs.\nCurbee built the platform based on its own experience running a mobile service operation, per the release. The company did so for three years, completing 20,000 visits across 9,000 consumer vehicles and 1,100 fleet and partner vehicles.\n\u201cAt Curbee, our goals are aligned with those of our customer dealers: empowering them to offer excellent customer satisfaction, maximize revenue and sustain profitability by offering a service today\u2019s vehicle owners demand,\u201d Leleux said in the release. \u201cCurbee is focused on empowering dealerships to succeed in today\u2019s rapidly evolving automotive landscape.\u201d\nConsumers and fleets alike are increasingly calling on\u00a0mobile service providers that enable them to have work done on their vehicles at their location, at the time that works best for them,\u00a0Wrench CEO\u00a0Ed Petersen told PYMNTS in an interview posted in June 2022.\n\u201cWe talk to a lot of people, and whether it\u2019s the OEMs, the big independent repair shops or what have you, they know this is where the world is heading,\u201d Petersen said.\nThe post Curbee Launches Platform to Help Car Dealerships Add Mobile Service appeared first on PYMNTS.com.", "date_published": "2024-07-26T18:11:15-04:00", "date_modified": "2024-07-28T22:04:45-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Curbee.jpg", "tags": [ "automotive", "B2B", "B2B Payments", "car dealerships", "car services", "commercial payments", "Curbee", "digital transformation", "News", "PYMNTS News", "Transportation", "What's Hot", "What's Hot In B2B" ] }, { "id": "https://www.pymnts.com/?p=2016991", "url": "https://www.pymnts.com/transportation/2024/gm-eyes-winning-new-customers-as-ev-sales-soar/", "title": "GM Eyes \u2018Winning New Customers\u2019 as EV Sales Soar", "content_html": "General Motors Chairman and CEO Mary Barra is focused on \u201cwinning new customers\u201d as electric vehicle (EV) sales soared during the second quarter.
\nIn the second quarter GM reported a 40% year-over-year growth in U.S. EV deliveries, outpacing the industry\u2019s 11% increase. The Cadillac Lyriq\u00a0emerged as the top luxury EV in 22 states. GM is scaling production of models like the Chevrolet Equinox EV and preparing for upcoming launches such as the GMC Sierra EV and Cadillac Optiq\u00a0to drive future growth. Despite market adjustments, GM remains focused on sustainable growth and profitability in the EV sector, supported by strategic partnerships and advancements in battery technology.
\nNext year, Barra noted, GM will follow with the Cadillac Celestiq, adding the company would then have a \u201cbeautifully designed EV\u201d in every global luxury SUV segment.
\n\u201cWe\u2019re going to focus on winning new customers with these nameplates, as well as with the next generation Chevrolet Bolt EV because they represent the largest growth opportunities for us,\u201d Barra said during the company\u2019s Q2 earnings call on July 23.
\n\u201cBut we\u2019ve also made adjustments to ensure we have a balanced approach as the market develops. This includes deferring Buick\u2019s first EV which had been planned for 2024. As we\u2019re expanding choice, other barriers to EV adoption like public charging access are also improving.\u201d
\nGM\u2019s EV portfolio is expanding successfully and capturing greater market share, Barra noted, adding, \u201cthese initial outcomes are promising, as disciplined volume expansion is crucial for achieving positive variable profits from our EV portfolio by the fourth quarter, while also bolstering our strong ICE (internal combustion engine) margins.\u201d
\nEarly EV sales are \u201cmostly incremental,\u201d Barra added, as 54% of customers are new to GM. \u201cWe\u2019re working to increase our conquest rate by raising awareness and launching new models. Our best-selling EV so far this year is the Cadillac Lyriq and it is now the market-leading luxury EV in 22 states including Florida, Texas and Michigan.\u201d
\nThe GMC Hummer EV and the Chevrolet Blazer EV are also building momentum, she said. To unleash the next cycle of EV growth, \u201cwe\u2019re scaling production of the Chevrolet Equinox EV with its unique combination of performance, technology, range and affordability. We delivered our first 1,000 units late in the second quarter and the reaction from customers, dealers and the media is very strong.\u201d
\nIn fact, according to Barra, one product reviewer said, \u201cChevy seems positioned to grab a piece of the pie that no one else has quite grabbed onto yet, and we think that is spot on.\u201d
\nGM is working to finalize commercial agreements with Tesla to give its customers access to their charging network. \u201cThe Ionna fast charging venture we joined is expected to bring its first chargers online before the end of the year, and customers are telling us the drive-thru plazas we\u2019re rolling out with Pilot company are the best public charging experience out there.\u201d
\nGiven GM\u2019s promising EV sales growth and trajectory, Barra said GM is \u201ccommitted to growing responsibly and profitably in any demand environment. Over the next few years, third-party forecasters now see the EV market growing steadily, but more slowly than it did over the last few years.\u201d
\nAs a result, she said GM is adjusting its spending plans to make sure \u201cwe\u2019re capital efficient and moving in lockstep with customers. For example, our Altium cells joint venture continues to ramp up domestic battery cell supply this year, which is helping drive profit improvement in our EV portfolio.\u201d
\nMoving forward, Barra said, \u201cWe\u2019re going to bring additional capacity online in a measured cadence. This will enable us to better optimize our battery chemistry and form factors to meet our customers\u2019 needs on cost and range.\u201d
\nGM also plans to reopen the Orion assembly as a battery electric truck plant in mid-2026, Barra noted, adding, \u201cWe\u2019re confident that we can meet customer demand for standout EV trucks in the interim by leveraging the production capability and flexibility we have in factory zero. We will also continue to take advantage of the flexibility we have to mix production between ICE and EV at key plants.\u201d
\nThe post GM Eyes ‘Winning New Customers’ as EV Sales Soar appeared first on PYMNTS.com.
\n", "content_text": "General Motors Chairman and CEO Mary Barra is focused on \u201cwinning new customers\u201d as electric vehicle (EV) sales soared during the second quarter.\nIn the second quarter GM reported a 40% year-over-year growth in U.S. EV deliveries, outpacing the industry\u2019s 11% increase. The Cadillac Lyriq\u00a0emerged as the top luxury EV in 22 states. GM is scaling production of models like the Chevrolet Equinox EV and preparing for upcoming launches such as the GMC Sierra EV and Cadillac Optiq\u00a0to drive future growth. Despite market adjustments, GM remains focused on sustainable growth and profitability in the EV sector, supported by strategic partnerships and advancements in battery technology.\nNext year, Barra noted, GM will follow with the Cadillac Celestiq, adding the company would then have a \u201cbeautifully designed EV\u201d in every global luxury SUV segment.\n\u201cWe\u2019re going to focus on winning new customers with these nameplates, as well as with the next generation Chevrolet Bolt EV because they represent the largest growth opportunities for us,\u201d Barra said during the company\u2019s Q2 earnings call on July 23. \n\u201cBut we\u2019ve also made adjustments to ensure we have a balanced approach as the market develops. This includes deferring Buick\u2019s first EV which had been planned for 2024. As we\u2019re expanding choice, other barriers to EV adoption like public charging access are also improving.\u201d\nGM\u2019s EV portfolio is expanding successfully and capturing greater market share, Barra noted, adding, \u201cthese initial outcomes are promising, as disciplined volume expansion is crucial for achieving positive variable profits from our EV portfolio by the fourth quarter, while also bolstering our strong ICE (internal combustion engine) margins.\u201d\nEarly EV sales are \u201cmostly incremental,\u201d Barra added, as 54% of customers are new to GM. \u201cWe\u2019re working to increase our conquest rate by raising awareness and launching new models. Our best-selling EV so far this year is the Cadillac Lyriq and it is now the market-leading luxury EV in 22 states including Florida, Texas and Michigan.\u201d\nThe GMC Hummer EV and the Chevrolet Blazer EV are also building momentum, she said. To unleash the next cycle of EV growth, \u201cwe\u2019re scaling production of the Chevrolet Equinox EV with its unique combination of performance, technology, range and affordability. We delivered our first 1,000 units late in the second quarter and the reaction from customers, dealers and the media is very strong.\u201d\nIn fact, according to Barra, one product reviewer said, \u201cChevy seems positioned to grab a piece of the pie that no one else has quite grabbed onto yet, and we think that is spot on.\u201d\nGM is working to finalize commercial agreements with Tesla to give its customers access to their charging network. \u201cThe Ionna fast charging venture we joined is expected to bring its first chargers online before the end of the year, and customers are telling us the drive-thru plazas we\u2019re rolling out with Pilot company are the best public charging experience out there.\u201d\nGiven GM\u2019s promising EV sales growth and trajectory, Barra said GM is \u201ccommitted to growing responsibly and profitably in any demand environment. Over the next few years, third-party forecasters now see the EV market growing steadily, but more slowly than it did over the last few years.\u201d\nAs a result, she said GM is adjusting its spending plans to make sure \u201cwe\u2019re capital efficient and moving in lockstep with customers. For example, our Altium cells joint venture continues to ramp up domestic battery cell supply this year, which is helping drive profit improvement in our EV portfolio.\u201d\nMoving forward, Barra said, \u201cWe\u2019re going to bring additional capacity online in a measured cadence. This will enable us to better optimize our battery chemistry and form factors to meet our customers\u2019 needs on cost and range.\u201d\nGM also plans to reopen the Orion assembly as a battery electric truck plant in mid-2026, Barra noted, adding, \u201cWe\u2019re confident that we can meet customer demand for standout EV trucks in the interim by leveraging the production capability and flexibility we have in factory zero. We will also continue to take advantage of the flexibility we have to mix production between ICE and EV at key plants.\u201d\nThe post GM Eyes ‘Winning New Customers’ as EV Sales Soar appeared first on PYMNTS.com.", "date_published": "2024-07-25T16:37:31-04:00", "date_modified": "2024-07-25T16:37:31-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/GM-EV.jpg", "tags": [ "Cadillac Lyriq", "Earnings", "electric vehicles", "EV", "general motors", "GM", "Mary Barra", "News", "PYMNTS News", "Transportation" ] }, { "id": "https://www.pymnts.com/?p=2015265", "url": "https://www.pymnts.com/transportation/2024/dot-probes-deltas-handling-of-crowdstrike-outage/", "title": "DOT Probes Delta\u2019s Handling of CrowdStrike Outage", "content_html": "Delta Air Lines\u2019 handling of a recent mass IT outage is the target of a federal investigation.
\nThe investigation is to \u201censure the airline is following the law and taking care of its passengers during continued widespread disruptions,\u201d Department of Transportation (DOT) Secretary Pete Buttigieg wrote on X (formerly Twitter) Tuesday (July 23) morning.
\n\u201cAll airline passengers have the right to be treated fairly, and I will make sure that right is upheld,\u201d he continued.
\n\n\n\n.@USDOT has opened an investigation into Delta Air Lines to ensure the airline is following the law and taking care of its passengers during continued widespread disruptions.
\nAll airline passengers have the right to be treated fairly, and I will make sure that right is upheld.
\n\u2014 Secretary Pete Buttigieg (@SecretaryPete) July 23, 2024
The announcement comes as Delta continues to deal with the fallout of what has been called \u201cthe worst IT outage in history,\u201d triggered when a software update by security company CrowdStrike took down Microsoft\u2019s systems.
\n\u201cBanks, airlines, hospitals, fast food chains, retailers, even the Paris Olympics, and nearly any and every business relying on a Microsoft Windows computer system found themselves grappling with a massive disruption that brought critical services to a standstill,\u201d PYMNTS wrote last week.
\nAccording to a report by Bloomberg News, Delta said it is \u201cfully cooperating\u201d with the DOT investigation and remains \u201centirely focused\u201d on restoring operations. More than half of its systems rely on Windows, the report said.
\nBloomberg also cited data from tracking service FlightAware showing that Delta had canceled 440 daily flights as of mid-morning Tuesday, or 12% of its normal schedule, bringing its total number of canceled flights to around 5,400. Other major airlines \u2014 American, United, and Southwest \u2014 had under 100 canceled flights the same day.
\nDelta CEO Ed Bastian had told several news media outlets on Monday (July 22) that it would take \u201canother couple of days\u201d to get all the airline\u2019s operations running smoothly.
\nAs PYMNTS wrote last week, the CrowdStrike incident shines a spotlight on the pervasive reliance on access to IT infrastructure in today\u2019s digital economy and highlights fact that \u2014 as within the digital payments and commerce landscape \u2014 when systems go down, organizations need to make sure they have an analog backup in place.
\n\u201cIt\u2019s really a core lesson in the ability to not have a single point of failure,\u201d said CompoSecure/Arculus Chief Product and Innovation Officer Adam Lowe. \u201cIf you look at the systems and look at the way the tool affected the problem, it did not affect Linux servers. It did not affect Mac systems. It only affected Windows. That\u2019s a challenge and it\u2019s a lesson in picking alternatives to critical systems.\u201d
\nThe post DOT Probes Delta’s Handling of CrowdStrike Outage appeared first on PYMNTS.com.
\n", "content_text": "Delta Air Lines\u2019 handling of a recent mass IT outage is the target of a federal investigation.\nThe investigation is to \u201censure the airline is following the law and taking care of its passengers during continued widespread disruptions,\u201d Department of Transportation (DOT) Secretary Pete Buttigieg wrote on X (formerly Twitter) Tuesday (July 23) morning.\n\u201cAll airline passengers have the right to be treated fairly, and I will make sure that right is upheld,\u201d he continued.\n\n.@USDOT has opened an investigation into Delta Air Lines to ensure the airline is following the law and taking care of its passengers during continued widespread disruptions.\nAll airline passengers have the right to be treated fairly, and I will make sure that right is upheld.\n\u2014 Secretary Pete Buttigieg (@SecretaryPete) July 23, 2024\n\nThe announcement comes as Delta continues to deal with the fallout of what has been called \u201cthe worst IT outage in history,\u201d triggered when a software update by security company CrowdStrike took down Microsoft\u2019s systems.\n\u201cBanks, airlines, hospitals, fast food chains, retailers, even the Paris Olympics, and nearly any and every business relying on a Microsoft Windows computer system found themselves grappling with a massive disruption that brought critical services to a standstill,\u201d PYMNTS wrote last week.\nAccording to a report by Bloomberg News, Delta said it is \u201cfully cooperating\u201d with the DOT investigation and remains \u201centirely focused\u201d on restoring operations. More than half of its systems rely on Windows, the report said.\nBloomberg also cited data from tracking service FlightAware showing that Delta had canceled 440 daily flights as of mid-morning Tuesday, or 12% of its normal schedule, bringing its total number of canceled flights to around 5,400. Other major airlines \u2014 American, United, and Southwest \u2014 had under 100 canceled flights the same day.\nDelta CEO Ed Bastian had told several news media outlets on Monday (July 22) that it would take \u201canother couple of days\u201d to get all the airline\u2019s operations running smoothly.\nAs PYMNTS wrote last week, the CrowdStrike incident shines a spotlight on the pervasive reliance on access to IT infrastructure in today\u2019s digital economy and highlights fact that \u2014 as within the digital payments and commerce landscape \u2014 when systems go down, organizations need to make sure they have an analog backup in place.\n\u201cIt\u2019s really a core lesson in the ability to not have a single point of failure,\u201d said CompoSecure/Arculus Chief Product and Innovation Officer Adam Lowe. \u201cIf you look at the systems and look at the way the tool affected the problem, it did not affect Linux servers. It did not affect Mac systems. It only affected Windows. That\u2019s a challenge and it\u2019s a lesson in picking alternatives to critical systems.\u201d\nThe post DOT Probes Delta’s Handling of CrowdStrike Outage appeared first on PYMNTS.com.", "date_published": "2024-07-23T13:19:14-04:00", "date_modified": "2024-07-23T13:19:14-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Delta-Air-Lines.jpg", "tags": [ "airlines", "Connected Economy", "CrowdStrike", "Crowdstrike outage", "Delta", "Delta Air Lines", "Department of Transportation", "IT", "News", "PYMNTS News", "Technology", "travel", "What's Hot", "Transportation" ] }, { "id": "https://www.pymnts.com/?p=2014692", "url": "https://www.pymnts.com/transportation/2024/ev-ambitions-on-hold-ford-delays-canadian-electric-suv-production/", "title": "EV Ambitions on Hold: Ford Delays Canadian Electric SUV Production", "content_html": "Ford has announced its revised strategy for its Oakville Assembly plant in Canada, originally slated for electric vehicle (EV) production. Instead, the facility will focus on manufacturing larger gasoline-powered versions of its popular F-Series pickup trucks.
\nFord\u2019s decision follows second-quarter EV sales in the U.S. Ford led the pack among traditional automakers, with EV sales soaring 61% year over year to 23,957 units. This helped propel the company\u2019s overall sales growth for the quarter and solidified its position as the second-largest EV seller in the U.S., ahead of General Motors.
\nThe decision to focus on larger, gasoline-powered versions of its F-Series pickups in Canada marks a shift from Ford\u2019s initial plan to launch three-row electric SUVs at Oakville in 2027, a delay attributed to slower-than-expected growth in electric vehicle demand, as stated in April. Despite this adjustment, Ford reiterated its commitment to the electric vehicle segment without specifying the new production location.
\nThe global slowdown in electric vehicle demand has prompted industry leaders like Tesla and BYD to slash prices to stimulate sales, while traditional automakers such as Ford and GM recalibrate their electric vehicle ambitions. Ford reported substantial losses in its EV business in recent years, projecting further financial challenges in 2024, reinforcing its commitment to launching profitable next-generation EVs.
\nFord has increasingly focused on hybrid vehicle production to appeal to consumers not yet ready to fully embrace electric vehicles. The company aims to quadruple hybrid production in the near term, buoyed by robust demand for its profitable F-150 trucks, produced across assembly plants in Kentucky, Ohio, and now Oakville.
\nAmid financial pressures in its EV sector, Ford\u2019s commercial business has emerged as a profit center, with the company banking on software-related services to drive future profitability. The division achieved operating profit margins nearing 17% in the last quarter, underscoring its strategic importance within Ford\u2019s broader portfolio.
\nSome key EV developments this month include:
\nSo, where does that leave the trajectory of EV sales?
\nAccording to Jennifer Weiss, co-director, NC Clean Energy Fund, educating the public about the benefits of EVs is crucial to making them a serious consideration for consumers.
\n\u201cWe have a huge hurdle right now getting people to test drive and trying things out and realizing they can do what they do on a daily basis with an electric vehicle,\u201d she noted.
\n\u201cDealerships right now don\u2019t have a lot of electric vehicles on the lots. It\u2019s the chicken and the egg. Until we see a lot more of the electric vehicles actually on the lots so people can test drive them and compare them to a traditional fuel vehicle, I think we have a little bit more of an uphill climb.\u201d
\nThe post EV Ambitions on Hold: Ford Delays Canadian Electric SUV Production appeared first on PYMNTS.com.
\n", "content_text": "Ford has announced its revised strategy for its Oakville Assembly plant in Canada, originally slated for electric vehicle (EV) production. Instead, the facility will focus on manufacturing larger gasoline-powered versions of its popular F-Series pickup trucks.\nFord\u2019s decision follows second-quarter EV sales in the U.S. Ford led the pack among traditional automakers, with EV sales soaring 61% year over year to 23,957 units. This helped propel the company\u2019s overall sales growth for the quarter and solidified its position as the second-largest EV seller in the U.S., ahead of General Motors. \nThe decision to focus on larger, gasoline-powered versions of its F-Series pickups in Canada marks a shift from Ford\u2019s initial plan to launch three-row electric SUVs at Oakville in 2027, a delay attributed to slower-than-expected growth in electric vehicle demand, as stated in April. Despite this adjustment, Ford reiterated its commitment to the electric vehicle segment without specifying the new production location.\nThe global slowdown in electric vehicle demand has prompted industry leaders like Tesla and BYD to slash prices to stimulate sales, while traditional automakers such as Ford and GM recalibrate their electric vehicle ambitions. Ford reported substantial losses in its EV business in recent years, projecting further financial challenges in 2024, reinforcing its commitment to launching profitable next-generation EVs.\nFord has increasingly focused on hybrid vehicle production to appeal to consumers not yet ready to fully embrace electric vehicles. The company aims to quadruple hybrid production in the near term, buoyed by robust demand for its profitable F-150 trucks, produced across assembly plants in Kentucky, Ohio, and now Oakville.\nAmid financial pressures in its EV sector, Ford\u2019s commercial business has emerged as a profit center, with the company banking on software-related services to drive future profitability. The division achieved operating profit margins nearing 17% in the last quarter, underscoring its strategic importance within Ford\u2019s broader portfolio.\nSome key EV developments this month include:\n\nOnline car marketplace\u00a0Carvana unveiled new tools for a smoother electric vehicle buying and selling experience.\nStarbucks announced plans to partner with Mercedes-Benz High-Power Charging to install EV chargers at more than 100 of its stores across the U.S. This initiative kicks off along Interstate 5, a key travel route on the West Coast.\nIn a bid to attract high-income EV owners, shopping centers worldwide are embracing EV charging stations. The trend gained momentum earlier this month when BP Pulse, BP\u2019s EV charging unit, announced a partnership with Simon Property Group, the U.S.\u2019s largest mall developer. \nThe federal government will grant car and auto parts factories in eight states $1.7 billion to begin producing electric vehicles and other clean energy technology, the Biden administration announced July 11.\n\nSo, where does that leave the trajectory of EV sales?\nAccording to Jennifer Weiss, co-director, NC Clean Energy Fund, educating the public about the benefits of EVs is crucial to making them a serious consideration for consumers.\n\u201cWe have a huge hurdle right now getting people to test drive and trying things out and realizing they can do what they do on a daily basis with an electric vehicle,\u201d she noted. \n\u201cDealerships right now don\u2019t have a lot of electric vehicles on the lots. It\u2019s the chicken and the egg. Until we see a lot more of the electric vehicles actually on the lots so people can test drive them and compare them to a traditional fuel vehicle, I think we have a little bit more of an uphill climb.\u201d\nThe post EV Ambitions on Hold: Ford Delays Canadian Electric SUV Production appeared first on PYMNTS.com.", "date_published": "2024-07-22T16:26:26-04:00", "date_modified": "2024-07-22T16:26:26-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Ford-F-150-Lightning.jpg", "tags": [ "BP Pulse", "Carvana", "electric vehicles", "EV", "F-Series Trucks", "Ford", "general motors", "GM", "Jennifer Weiss", "Mercedes Benz", "NC Clean Energy Fund", "News", "Oakville Assembly plant", "PYMNTS News", "simon property group", "starbucks", "Transportation" ] }, { "id": "https://www.pymnts.com/?p=2011968", "url": "https://www.pymnts.com/transportation/2024/fleetio-adds-on-site-fuel-management-to-fleet-maintenance-software/", "title": "Fleetio Adds On-Site Fuel Management to Fleet Maintenance Software", "content_html": "Fleetio has added two new integrations to its fleet maintenance management software.
\nThese integrations with FuelCloud and Fill-Rite will help businesses with on-site bulk tank fueling streamline fuel management, gain insights and optimize fleet fueling operations, the company said in a Tuesday (July 16) press release.
\n\u201cAdding these capabilities to our growing suite of solutions helps fleets control costs and minimize exposure to market fluctuations,\u201d Jake Martino, vice president, partnerships at Fleetio, said in the release.
\nFuelCloud provides on-site fuel management solutions, while Fill-Rite offers on-site fuel dispensing systems, according to the release. The integrations come at no additional charge to the companies\u2019 mutual customers.
\nWith these integrations, transactions automatically flow into Fleetio, ensuring fuel data stays up to date and eliminating the process of managing import templates and spreadsheets, the release said.
\nIn addition, the integrations provide a comprehensive view of fuel expenses by automatically capturing site and tank information for each transaction, per the release.
\nThe integrations also provide insights into fuel consumption, clarify how fuel contributes to overall operating costs and prevent fuel theft by sending alerts when discrepancies are detected \u2014 such as when the report fuel volume exceeds an asset\u2019s tank capacity, the release said.
\n\u201cFleetio is committed to equipping fleet operators with the tools and insights they need to succeed,\u201d the company said in the release. \u201cThis addition marks a significant step for streamlined on-site fuel management.\u201d
\nFleet management is inching toward becoming a beacon of connectivity, PYMNTS reported in February.
\nOn July 2, FleetUp and RoadFlex said they have integrated their solutions to automate fleet expense management and fuel management, from data collection to reporting.
\nBy combining FleetUp\u2019s fleet and asset management solution and RoadFlex\u2019s fleet expense management and fuel card solutions, the companies aim to ensure fleet cards are used only by the appropriate employees and vehicles, block and flag suspicious transactions, and alert managers if the wrong fuel type is purchased for a vehicle.
\nIn June, Motive began offering its card customers its Missed Savings solution that uses shared fleet and spend management data to automatically determine where fuel spending is being wasted.
\nThe post Fleetio Adds On-Site Fuel Management to Fleet Maintenance Software appeared first on PYMNTS.com.
\n", "content_text": "Fleetio has added two new integrations to its fleet maintenance management software.\nThese integrations with FuelCloud and Fill-Rite will help businesses with on-site bulk tank fueling streamline fuel management, gain insights and optimize fleet fueling operations, the company said in a Tuesday (July 16) press release.\n\u201cAdding these capabilities to our growing suite of solutions helps fleets control costs and minimize exposure to market fluctuations,\u201d Jake Martino, vice president, partnerships at Fleetio, said in the release.\nFuelCloud provides on-site fuel management solutions, while Fill-Rite offers on-site fuel dispensing systems, according to the release. The integrations come at no additional charge to the companies\u2019 mutual customers.\nWith these integrations, transactions automatically flow into Fleetio, ensuring fuel data stays up to date and eliminating the process of managing import templates and spreadsheets, the release said.\nIn addition, the integrations provide a comprehensive view of fuel expenses by automatically capturing site and tank information for each transaction, per the release.\nThe integrations also provide insights into fuel consumption, clarify how fuel contributes to overall operating costs and prevent fuel theft by sending alerts when discrepancies are detected \u2014 such as when the report fuel volume exceeds an asset\u2019s tank capacity, the release said.\n\u201cFleetio is committed to equipping fleet operators with the tools and insights they need to succeed,\u201d the company said in the release. \u201cThis addition marks a significant step for streamlined on-site fuel management.\u201d\nFleet management is inching toward becoming a beacon of connectivity, PYMNTS reported in February.\nOn July 2, FleetUp and RoadFlex said they have integrated their solutions to automate fleet expense management and fuel management, from data collection to reporting.\nBy combining FleetUp\u2019s fleet and asset management solution and RoadFlex\u2019s fleet expense management and fuel card solutions, the companies aim to ensure fleet cards are used only by the appropriate employees and vehicles, block and flag suspicious transactions, and alert managers if the wrong fuel type is purchased for a vehicle.\nIn June, Motive began offering its card customers its Missed Savings solution that uses shared fleet and spend management data to automatically determine where fuel spending is being wasted.\n\nThe post Fleetio Adds On-Site Fuel Management to Fleet Maintenance Software appeared first on PYMNTS.com.", "date_published": "2024-07-16T19:48:51-04:00", "date_modified": "2024-07-16T22:45:14-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Fleetio-fuel-management-fleets.jpg", "tags": [ "B2B", "B2B Payments", "commercial payments", "Fill-Rite", "Fleet Management", "Fleetio", "Fleets", "freight", "fuel management", "FuelCloud", "News", "PYMNTS News", "What's Hot In B2B", "Transportation" ] }, { "id": "https://www.pymnts.com/?p=1971429", "url": "https://www.pymnts.com/transportation/2024/ev-sales-tick-up-as-payment-challenges-define-the-road-ahead/", "title": "EV Sales Tick Up as Payment Challenges Define the Road Ahead", "content_html": "As U.S. consumers take to the road this summer, the state of electric vehicles hangs in the balance and the payments industry grapples with the issues that will provide the right platform for its growth.
\nFirst, the sales update. As the major car companies report their second-quarter 2024 sales, the results for overall electric vehicle (EV) sales are mixed with some very bright spots to report. Ford\u2019s EV sales surged 61% year over year in Q2, with 23,957 units sold, leading to the automaker\u2019s overall growth for the quarter. This performance allowed Ford to maintain its position as the second-largest EV seller in the U.S., ahead of GM but still trailing Tesla. The F-150 Lightning saw a 77% sales increase, remaining the top-selling electric truck. The Mustang Mach-E and E-Transit also experienced significant growth, up 46% and 96% respectively. In the first half of 2024, Ford sold 44,180 EVs, a 72% increase from last year. In a recent interview, Ford Motor Company CEO Jim Farley emphasized the company\u2019s strategy to introduce smaller, more affordable EVs to compete globally while still expanding the overall audience.
\n\u201cYou have to make a radical change as an [automaker] to get to a profitable EV. The first thing we have to do is really put all of our capital toward smaller, more affordable EVs,\u201d Farley told CNBC recently. \u201cThat\u2019s the duty cycle that we\u2019ve now found that really matches. These big, huge, enormous EVs, they\u2019re never going to make money. The battery is $50,000. \u2026 The batteries will never be affordable.\u201d
\nTesla delivered 443,956 electric vehicles globally in Q2, exceeding Wall Street\u2019s estimate of 439,302. Despite this, deliveries fell 4.8% year-over-year, following an 8.5% decline in Q1. This marks the longest streak of quarterly delivery declines since 2012. Tesla\u2019s production also decreased by 14% to 410,831 units, influenced by a factory shutdown in Germany and shipment disruptions. However, Tesla\u2019s expected focus on affordable cars and its energy storage segment could drive future growth.
\nGM reported selling 21,930 electric vehicles in the second quarter of 2024, a 40% increase from the same period in 2023, driven by the Cadillac Lyriq and Chevrolet Blazer EVs. This total includes 490 electric delivery trucks from its BrightDrop subsidiary. In the first half of 2024, GM\u2019s EV sales reached 38,355, up 6% from 36,322 units in the first half of 2023, with 746 units sold at BrightDrop. All EVs sold this year utilize GM\u2019s new Ultium propulsion system, replacing the previous Bolt and Bolt EUV models. GM plans to reintroduce the Bolt with Ultium technology in 2025.
\nPart of the consumer apprehension about buying more EVs lands in the lap of the ability to access EV charging stations and then the ability to pay for that service. JD Power released a report in May that reinforce those concerns. \u201cAs the industry inches toward mass consumer adoption, the main roadblocks to getting consumers behind the wheel of an EV are the continued shortage of affordable vehicles, charging concerns and a lack of knowledge regarding the EV ownership proposition, including incentives,\u201d said\u00a0Stewart Stropp, executive director of EV intelligence at J.D. Power.
\nThe ability to pay at the EV charging station has been addressed by several payment companies. For example, Visa advises its merchants that the success of a charging station often hinges on the ease of payment for customers. It recommends installing Visa-accepting terminals and offering contactless payment options can enhance the experience, while digital payment solutions, such as mobile app payments, should be complemented with tap-to-pay options for accessibility. Using the correct merchant code (MCC 5552) is crucial for bank rewards and reducing service issues. Clear checkout processes, whether estimating charges or using set amounts, Visa suggests, should be communicated to customers, with additional compliance for European merchants regarding customer authentication.
\nThe payment issue has also been addressed in a recent U.S. Department of Energy report. \u201cBest Practices for Payment Systems at Public Electric Vehicle Charging Stations,\u201d authored by Kristi Moriarty and John Smart, addresses significant challenges in the payment processes at public EV charging stations. Key issues include the reliability of network connections, the robustness of hardware, and the integration of payment systems. The report emphasizes the necessity of strong network connections, suggesting the use of external antennas and redundant SIM cards to enhance connectivity. It also highlights the importance of durable, weather-resistant card readers and recommends regular maintenance to ensure functionality.
\nA crucial point from the report states, \u201cFailure to accept and process payment is a cause of public electric vehicle (EV) charging session failures,\u201d underscoring the need for reliable payment solutions to avoid service disruptions. The report also recommends standardized procedures for user interfaces to reduce customer confusion and improve overall user experience.
\nThe post EV Sales Tick Up as Payment Challenges Define the Road Ahead appeared first on PYMNTS.com.
\n", "content_text": "As U.S. consumers take to the road this summer, the state of electric vehicles hangs in the balance and the payments industry grapples with the issues that will provide the right platform for its growth.\nFirst, the sales update. As the major car companies report their second-quarter 2024 sales, the results for overall electric vehicle (EV) sales are mixed with some very bright spots to report. Ford\u2019s EV sales surged 61% year over year in Q2, with 23,957 units sold, leading to the automaker\u2019s overall growth for the quarter. This performance allowed Ford to maintain its position as the second-largest EV seller in the U.S., ahead of GM but still trailing Tesla. The F-150 Lightning saw a 77% sales increase, remaining the top-selling electric truck. The Mustang Mach-E and E-Transit also experienced significant growth, up 46% and 96% respectively. In the first half of 2024, Ford sold 44,180 EVs, a 72% increase from last year. In a recent interview, Ford Motor Company CEO Jim Farley emphasized the company\u2019s strategy to introduce smaller, more affordable EVs to compete globally while still expanding the overall audience.\n\u201cYou have to make a radical change as an [automaker] to get to a profitable EV. The first thing we have to do is really put all of our capital toward smaller, more affordable EVs,\u201d Farley told CNBC recently. \u201cThat\u2019s the duty cycle that we\u2019ve now found that really matches. These big, huge, enormous EVs, they\u2019re never going to make money. The battery is $50,000. \u2026 The batteries will never be affordable.\u201d\nTesla delivered 443,956 electric vehicles globally in Q2, exceeding Wall Street\u2019s estimate of 439,302. Despite this, deliveries fell 4.8% year-over-year, following an 8.5% decline in Q1. This marks the longest streak of quarterly delivery declines since 2012. Tesla\u2019s production also decreased by 14% to 410,831 units, influenced by a factory shutdown in Germany and shipment disruptions. However, Tesla\u2019s expected focus on affordable cars and its energy storage segment could drive future growth.\nGM reported selling 21,930 electric vehicles in the second quarter of 2024, a 40% increase from the same period in 2023, driven by the Cadillac Lyriq and Chevrolet Blazer EVs. This total includes 490 electric delivery trucks from its BrightDrop subsidiary. In the first half of 2024, GM\u2019s EV sales reached 38,355, up 6% from 36,322 units in the first half of 2023, with 746 units sold at BrightDrop. All EVs sold this year utilize GM\u2019s new Ultium propulsion system, replacing the previous Bolt and Bolt EUV models. GM plans to reintroduce the Bolt with Ultium technology in 2025.\nPayment Issues\nPart of the consumer apprehension about buying more EVs lands in the lap of the ability to access EV charging stations and then the ability to pay for that service. JD Power released a report in May that reinforce those concerns. \u201cAs the industry inches toward mass consumer adoption, the main roadblocks to getting consumers behind the wheel of an EV are the continued shortage of affordable vehicles, charging concerns and a lack of knowledge regarding the EV ownership proposition, including incentives,\u201d said\u00a0Stewart Stropp, executive director of EV intelligence at J.D. Power.\nThe ability to pay at the EV charging station has been addressed by several payment companies. For example, Visa advises its merchants that the success of a charging station often hinges on the ease of payment for customers. It recommends installing Visa-accepting terminals and offering contactless payment options can enhance the experience, while digital payment solutions, such as mobile app payments, should be complemented with tap-to-pay options for accessibility. Using the correct merchant code (MCC 5552) is crucial for bank rewards and reducing service issues. Clear checkout processes, whether estimating charges or using set amounts, Visa suggests, should be communicated to customers, with additional compliance for European merchants regarding customer authentication.\nThe payment issue has also been addressed in a recent U.S. Department of Energy report. \u201cBest Practices for Payment Systems at Public Electric Vehicle Charging Stations,\u201d authored by Kristi Moriarty and John Smart, addresses significant challenges in the payment processes at public EV charging stations. Key issues include the reliability of network connections, the robustness of hardware, and the integration of payment systems. The report emphasizes the necessity of strong network connections, suggesting the use of external antennas and redundant SIM cards to enhance connectivity. It also highlights the importance of durable, weather-resistant card readers and recommends regular maintenance to ensure functionality.\nA crucial point from the report states, \u201cFailure to accept and process payment is a cause of public electric vehicle (EV) charging session failures,\u201d underscoring the need for reliable payment solutions to avoid service disruptions. The report also recommends standardized procedures for user interfaces to reduce customer confusion and improve overall user experience.\nThe post EV Sales Tick Up as Payment Challenges Define the Road Ahead appeared first on PYMNTS.com.", "date_published": "2024-07-05T04:00:57-04:00", "date_modified": "2024-07-04T15:04:34-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/EV-sales-payment.png", "tags": [ "automakers", "automotive", "connected cars", "electric cars", "electric vehicles", "EV Sales", "EVs", "Featured News", "Ford", "Ford Motor Company", "general motors", "GM", "News", "payments", "PYMNTS News", "Retail", "Technology", "Tesla", "U.S. Department of Energy", "Transportation" ] } ] }