Latest news with #GoAuto
NZ Autocar
4 days ago
- Automotive
- NZ Autocar
Is America running into trouble over its trade war with China?
China is tightening its export controls over rare-earth materials crucial to car manufacture. This has left component and vehicle makers scrambling. Go Auto reports that the rare-earth elements situation could become more important than the semi-conductor shortage of 2021-2023. US-based Automotive News suggests that the fate of automakers' assembly lines is in the hands of a small team of Chinese bureaucrats. That's because China controls up to 70 per cent of global rare-earth mining and 85 per cent of refining capacity. It is also responsible for producing around 90 per cent of rare-earth metal alloys and magnet production. And it has limited supply amid an ongoing trade war with the United States. An EV uses around half a kilogramme of rare-earth elements and the average ICE vehicle half that. These components are key to electric motors, oil pumps, speakers, and a range of sensors and solenoids. Production of vehicles outside of China may be severely curtailed if the shortage continues. And the shortage will also impact many other sectors of the economy for they are found in a range of consumer products. Already, Ford suggests that rare-earth materials and components are taking longer than usual to pass through China's approval process. The company had to idle its Chicago Assembly plant for a week recently. It couldn't get rare-earth metals used to make brake boosters. At best, it is taking more time for the approvals to go through. And that means car companies are facing increased shipment costs. According to China's Ministry of Commerce, the export permit approval process relies upon three senior officials. A spokesperson from European powerhouse, ZF, said the rare-earths issue could cause new-vehicle production to drop in the second half of this year. As an aside, ZF has developed an electric motor with magnetic components that use no rare earth elements. Brazil, the US and Australia, amongst others, are also involved in mining and processing of rare earth elements. All are working to increase output to cover the shortfall.
NZ Autocar
11-06-2025
- Automotive
- NZ Autocar
EV sales globally are accelerating
Electric vehicles (EVs) are poised to account for over 40 per cent of global new car sales by 2030, according to the International Energy Agency (IEA). This rapid transition will save more than five million barrels of oil being consumed per day by 2030. China alone contributes half of that reduction due to its dominant position in the EV market. In 2024, global EV sales exceeded 17 million units, or 14 per cent of all new car sales. The IEA projects that this momentum will continue into 2025. It expect more than 20 million EVs will be sold, or 25 per cent of all car sales globally. The first quarter of 2025 already showed a 35 per cent year-on-year sales increase. According to the GoAuto article, China remains the global EV leader, with electric vehicles comprising nearly half of all car sales in 2024. Over 11 million EVs were sold in China last year, surpassing total global EV sales from just two years prior. The IEA projects that EVs will constitute about 60 per cent of all new car sales in China by 2025. This growth is driven by aggressive government incentives and falling EV prices. Many electric models in China are already cheaper than conventional vehicles, even without subsidies. In Europe, EV adoption is also strong, bolstered by stringent CO₂ emissions regulations. The IEA expects EVs to reach close to 60 per cent of new car sales in Europe by 2030, with a 25 per cent share anticipated by the end of this year. The United States is experiencing slower EV growth. Electric vehicles accounted for about 10 per cent of total U.S. car sales in 2024. The IEA projects the share could reach 11 per cent in 2025, depending on the continuation of existing tax credits. However, policy uncertainty and infrastructure limitations are seen as barriers to more rapid growth. EV sales are also increasing in Southeast Asia, but EV adoption is slow in African nations. By contrast, it is rapidly rising in Latin America and broader Asia, outside of China, with a 60 per cent sales jump in 2024. Chinese imports played a dominant role, comprising the majority of the market in Brazil and Thailand. Sales in these emerging markets are forecast to reach one million in 2025. The IEA highlights three major obstacles to sustained EV growth: economic uncertainty, high purchase prices relative to ICE power cars, and lagging charging infrastructure. While battery costs are falling, EVs still command a premium in many markets. For example, they cost 20 per cent more in Germany and 30 per cent more in the U.S. However, in countries like China and Thailand, EVs have already achieved or surpassed price parity. Infrastructure is another concern. Public charging availability in the U.S. and UK is not keeping pace with EV deployment, leading to congestion at charging points. Globally, the IEA estimates public charging infrastructure must grow nearly ninefold by 2030 to meet demand. China remains the world's EV production hub, accounting for over 70 per cent of global output and 40 per cent of exports. Chinese EVs are increasingly penetrating new markets like Brazil, Mexico, and Southeast Asia. Meanwhile, global EV trade grew by 20 per cent in 2024. Technological advances, including a 30 per cent drop in battery costs in China and rapid expansion of ultra-fast charging infrastructure, are also fueling the transition. Government initiatives, smart charging, and grid integration are viewed as essential for long-term adoption. Overall, the global EV market is growing strongly, led by China, supported by Europe, and expanding in emerging markets. While policy and infrastructure challenges remain, ongoing technological advancements and falling prices are expected to support continued acceleration towards 2030 targets.
Cision Canada
05-06-2025
- Automotive
- Cision Canada
Go Auto Accelerates Growth with Two New Acquisitions in Richmond: Go Richmond Subaru and Go Richmond Kia
RICHMOND, BC, June 5, 2025 /CNW/ - Go Auto is excited to announce the acquisition of two new dealerships in Richmond: Go Richmond Subaru (formerly Richmond Subaru) and Go Richmond Kia (formerly Kia Richmond). Just two weeks after welcoming Go Downtown Kia to the family in mid-May, these latest additions mark another major milestone in our rapid growth—bringing our total presence in the Greater Vancouver area to 17 locations. The acquisition of Go Richmond Subaru represents Go Auto's second Subaru dealership in Western Canada, while the addition of Go Richmond Kia marks our fourth Kia location, reinforcing our commitment to working with top-tier automotive brands and delivering more choice to our customers. "These acquisitions further solidify our presence in the Greater Vancouver Area and align with our strategic goal of partnering with leading manufacturers to better serve Canadian drivers," said Phil Abram, President of Go Auto. "We're excited to welcome both dealerships into the Go Auto family." We also want to acknowledge and thank Subaru Canada and Kia Canada for their ongoing support and collaboration. These partnerships continue to grow in meaningful ways as we focus on delivering excellence in customer experience and long-term value across our network. "To the teams at Go Richmond Subaru and Go Richmond Kia—welcome to Go Auto," said Abram. "You've created something truly special, and we're proud to support your continued growth. To the amazing customers at both dealerships—with the strength and support of Go Auto, you now have access to more locations, more options, and even more possibilities—from exclusive benefits to a broader vehicle selection and enhanced service experiences." With these acquisitions, Go Auto now proudly operates 70 dealerships across North America, representing 28 new vehicle brands. We remain committed to providing exceptional service, unmatched value, and a best-in-class experience at every touchpoint.
Associated Press
11-05-2025
- Automotive
- Associated Press
Go Auto is a 2025 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for seven consecutive years
EDMONTON, AB, May 11, 2025 /CNW/ - Go Auto is proud to announce that it has been named one of Canada's Best Managed Companies for the seventh consecutive year —earning Platinum Club membership in the process, one of the program's highest distinctions. This milestone reflects Go Auto's enduring commitment to industry excellence, customer-first practices, and a strong corporate culture. The Platinum Club designation is earned by organizations that have maintained Best Managed status for six or more consecutive years, consistently demonstrating exceptional performance and leadership. Celebrating over 30 years, Canada's Best Managed Companies program awards excellence in private Canadian-owned companies with revenues of $50 million or greater. To attain the designation, companies are evaluated on their leadership in the areas of strategy, culture and commitment, capabilities, and innovation, governance and financial performance. Go Auto's sustained success in the program reflects its commitment to operational excellence, customer experience, innovation, and a strong performance-driven culture. With a network of more than 67 locations and a team of over 5,000 employees across Canada and the United States, Go Auto continues to be a leading force in the automotive retail industry. Phil Abram, President of Go Auto, expressed his pride in the milestone: 'Achieving Platinum Club status as part of our seventh consecutive Best Managed designation is an extraordinary accomplishment. It's a reflection of our team's unwavering dedication to excellence, innovation, and a strong organizational culture. This recognition validates our long-term strategy and inspires us to continue raising the bar in the automotive industry.' 'To become a Best Managed Platinum Club winner is nothing short of remarkable. Their continued adaptability in an era of uncertainty sets the standard for how to overcome new barriers and demonstrate resiliency at the highest levels,' said Derrick Dempster, Partner, Deloitte Private and Co-Leader, Canada's Best Managed Companies program. 'These companies truly impact how Canada is viewed on the world stage when it comes to the success of private business.' About Canada's Best Managed Companies Canada's Best Managed Companies program continues to be the mark of excellence for privately-owned Canadian companies. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winners, one of the new winners selected each year; 2) Canada's Best Managed Companies winner, award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review; 3) Gold Standard winner, after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member, winners that have maintained their Best Managed status for seven years or more. Program sponsors are Deloitte Private, CIBC, EDC, The Globe and Mail, and TMX Group. For more information visit About Go Auto Go Auto, a distinguished Platinum Club member of Deloitte's Canada's Best Managed Companies program, is recognized for its exceptional performance, customer-first approach, commitment to innovation, and strong corporate culture. Headquartered in Edmonton, Alberta, Go Auto operates one of the largest dealership networks in Canada, with 67 dealerships representing 28 leading automotive brands across Canada and the United States. With operations spanning Alberta, British Columbia, Saskatchewan, Manitoba, Ontario, the Northwest Territories, and Washington State, Go Auto provides a full suite of automotive services—including vehicle sales, financing, insurance, service, and collision repair—for both automobiles and RVs. Home to a team of over 4,500 employees, Go Auto fosters a dynamic and inclusive workplace and maintains a deep commitment to community engagement through a variety of charitable initiatives and partnerships. For more information on the Go Auto group, visit or follow @GoAuto on LinkedIn. SOURCE Go Auto
Globe and Mail
11-05-2025
- Automotive
- Globe and Mail
Go Auto is a 2025 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for seven consecutive years
EDMONTON, AB , May 11, 2025 /CNW/ - Go Auto is proud to announce that it has been named one of Canada's Best Managed Companies for the seventh consecutive year —earning Platinum Club membership in the process, one of the program's highest distinctions. This milestone reflects Go Auto's enduring commitment to industry excellence, customer-first practices, and a strong corporate culture. The Platinum Club designation is earned by organizations that have maintained Best Managed status for six or more consecutive years, consistently demonstrating exceptional performance and leadership. Celebrating over 30 years, Canada's Best Managed Companies program awards excellence in private Canadian-owned companies with revenues of $50 million or greater. To attain the designation, companies are evaluated on their leadership in the areas of strategy, culture and commitment, capabilities, and innovation, governance and financial performance. Go Auto's sustained success in the program reflects its commitment to operational excellence, customer experience, innovation, and a strong performance-driven culture. With a network of more than 67 locations and a team of over 5,000 employees across Canada and the United States , Go Auto continues to be a leading force in the automotive retail industry. Phil Abram, President of Go Auto, expressed his pride in the milestone: "Achieving Platinum Club status as part of our seventh consecutive Best Managed designation is an extraordinary accomplishment. It's a reflection of our team's unwavering dedication to excellence, innovation, and a strong organizational culture. This recognition validates our long-term strategy and inspires us to continue raising the bar in the automotive industry." "To become a Best Managed Platinum Club winner is nothing short of remarkable. Their continued adaptability in an era of uncertainty sets the standard for how to overcome new barriers and demonstrate resiliency at the highest levels," said Derrick Dempster, Partner, Deloitte Private and Co- Leader, Canada's Best Managed Companies program. "These companies truly impact how Canada is viewed on the world stage when it comes to the success of private business." About Canada's Best Managed Companies Canada's Best Managed Companies program continues to be the mark of excellence for privately-owned Canadian companies. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winners, one of the new winners selected each year; 2) Canada's Best Managed Companies winner, award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review; 3) Gold Standard winner, after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member, winners that have maintained their Best Managed status for seven years or more. Program sponsors are Deloitte Private, CIBC, EDC, The Globe and Mail, and TMX Group. For more information visit . About Go Auto Go Auto, a distinguished Platinum Club member of Deloitte's Canada's Best Managed Companies program, is recognized for its exceptional performance, customer-first approach, commitment to innovation, and strong corporate culture. Headquartered in Edmonton, Alberta , Go Auto operates one of the largest dealership networks in Canada , with 67 dealerships representing 28 leading automotive brands across Canada and the United States . With operations spanning Alberta , British Columbia , Saskatchewan , Manitoba , Ontario , the Northwest Territories , and Washington State , Go Auto provides a full suite of automotive services—including vehicle sales, financing, insurance, service, and collision repair—for both automobiles and RVs. Home to a team of over 4,500 employees, Go Auto fosters a dynamic and inclusive workplace and maintains a deep commitment to community engagement through a variety of charitable initiatives and partnerships. For more information on the Go Auto group, visit or follow @GoAuto on LinkedIn. SOURCE Go Auto
