Best of the Web: New Honda CR-V… hybrid

  • Honda is adding a hybrid version of the CR-V compact crossover for 2020, which promises significantly higher mpg.
  • Other 2020 CR-V models get revised styling and a few new features, while the base 2.4-liter engine is gone, meaning the turbocharged 1.5-liter four-cylinder is now standard.
  • Nonhybrid 2020 CR-V models will go on sale this fall, with hybrid versions arriving at the beginning of next year.

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What’s News: Gen Y & Micromobility

Micromobility

FOR URBAN MILLENNIALS, MICROMOBILITY WILL BE THE KEY TRANSIT CHOICE OF THE FUTURE

Gen Y has been pivotal in the trend of resurgence in America’s urban areas. Not only do they have a significant preference for city living, they are also 21% more likely to buy their homes near city centers than Gen Xers. For the cohorts aged 25-34 and 35-44, the critical factor in that decision is access to transit, according to a Journal of Regional Science study.

Given that millennials make up America’s largest-ever generation, that is positive news for the sector of the transportation industry most primed to capture the future urban market: micromobility.

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Micromobility services — including ride-hailing platforms like Uber and Lyft, bike-share programs like New York City’s Citi Bike, and electric-scooter rental services like Bird and Lime — have grown rapidly in recent years. Today, there are more than 85,000 e-scooters available for rent in 100 cities across the US, with more than 38.5M trips made in 2018 alone. As a whole, the micromobility sector is expected to be worth up to $300B by 2030.

Best of the Web: Gen Y and vehicles

Automotive

MILLENNIALS STILL WANT TO DRIVE — THEY JUST WANT CHEAPER, MORE EFFICIENT VEHICLES

Despite their concern for the environment and reputation as bicycle riders and public transportation commuters, a large portion of Generation Y is just as keen to get behind the wheel as their parents were. In terms of vehicle-miles traveled, millennials actually drive more (controlling for factors like marriage and urban living).

In Q1’18, millennials were responsible for all new-vehicle sales growth in the US — quite an accomplishment for what many in the industry described as the automotive sector’s “lost generation.”

“Millennials had all but been written off as a serious customer group in the auto industry. But data tells a much different story. The demographic is maturing and is now poised to be a driving force in automotive marketing.” — Marty Miller, Experian Automotive

However, millennials do differ in their preferences. While older cohorts may favor luxury vehicles, such as high-end sedans and SUVs, most millennial motorists prefer smaller, more efficient, and more affordable sedans. In a 2019 survey, 86% of younger millennials and Gen Z members said they would consider buying a sedan themselves when they buy a car.

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What’s News: Tesla truck prototype pushed out to Nov.

  • Tesla‘s pickup truck will likely be unveiled in November, CEO Elon Musk said Monday.
  • That’s later than previously expected arrival times for the truck, which Musk has talked about for years.
  • Musk previously said a prototype “might” be here by 2019, but that full production would follow the Model Y, which has yet to be built

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What’s New: Walmart and Tesla tussle over solar panel fires.

  • On Tuesday, Walmart filed suit against Tesla alleging its solar panels had caused fires at seven of its stores.
  • Tesla short David Einhorn tweeted Friday, “A recall should have happened long ago” and that CEO Elon Musk should resign.
  • Walmart and Tesla said in a statement Thursday that they “look forward to addressing all issues and re-energizing Tesla solar installations at Walmart stores, once all parties are certain that all concerns have been addressed.”

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What’s News: Elon Deletes tweet…

  • Tesla CEO Elon Musk had harsh criticism of ousted Tesla co-founder Martin Eberhard over the weekend.
  • In a now-deleted tweet, Musk said “Tesla is alive in spite of Eberhard, but he seeks credit constantly & fools give it him.”
  • The billionaire also tweeted that he had deleted his Twitter account (which was not true as of Monday morning), and received criticism for comments about the necessity of crediting artists for their work.

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