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Big electric trucks won't save the planet, says the NYT

When The New York Times decides that an issue is an issue, be prepared to read about it at length. Rarely will a week passes these days when the esteemed news organization doesn’t examine the realities, myths and alleged benefits and drawbacks of electric vehicles, and even The Atlantic joins in sometimes. That revolution, marked by changes in manufacturing, consumer habits and social “consciousness,” may in fact be upon us. Or it may not. Nonetheless, the newspaper appears committed to presenting to the public these pros and cons. In this recently published article titled, “Just How Good for the Planet Is That Big Electric Pickup Truck?”—wow, thatÂ’s a mouthful — the Times focuses on the “bigness” of the current and pending crop of EVs, and how that impacts or will impact the environment and road safety. This is not what news organizations these days are fond of calling “breaking news.” In October, we pointed to an essay in The Atlantic that covered pretty much the same ground, and focused on the Hummer as one particular villain, In the paper and online on Feb. 18, the Times' Elana Shao observes how “swapping a gas pickup truck for a similar electric one can produce significant emissions savings.” She goes on: “Take the Ford F-150 pickup truck compared with the electric F-150 Lightning. The electric versions are responsible for up to 50 percent less greenhouse gas emissions per mile.” But she right away flips the argument, noting the heavier electric pickup trucks “often require bigger batteries and more electricity to charge, so they end up being responsible for more emissions than other smaller EVs. Taking into consideration the life cycle emissions per mile, they end up just as polluting as some smaller gas-burning cars.” Certainly, itÂ’s been drummed into our heads that electric cars donÂ’t run on air and water but on electricity that costs money, and that the public will be dealing with “the shift toward electric SUVs, pickup trucks and crossover vehicles, with some analysts estimating that SUVs, pickup trucks and vans could make up 78 percent of vehicle sales by 2025." No-brainer alert: Big vehicles cost more to charge. And then thereÂ’s the safety question, which was cogently addressed in the Atlantic story. Here Shao reiterates data documenting the increased risks of injuries and deaths caused by larger, heavier vehicles.

GM raises 2023 guidance on strong sales, higher profits

General Motors beat first-quarter profit estimates and raised its full-year earnings and cash-flow guidance after vehicle demand at the start of the year surpassed expectations. Its shares rose in premarket trading. GM made $2.21 a share in adjusted profit in the first quarter, compared to a consensus forecast of $1.72 a share. Revenue rose 11% to $39.99 billion, it said Tuesday, which was more than the $39.24 billion analysts expected. The stronger results stem from rising sales in the US, even in the face of higher interest rates and inflation. GM executives said demand was strong enough to revise 2023 guidance upward, boosting profit estimates for the year by $500 million to between $11 billion and $13 billion. “We did it with strong production and inventory discipline and consistent pricing,” GM Chief Financial Officer Paul Jacobson said on a call with journalists. “All in all, weÂ’re feeling confident about 2023.” The Detroit automaker raised per-share full-year guidance to between $6.35 and $7.35, up from $6 to $7 a share, and said free cash flow would also increase by $500 million to a range of $5.5 billion to $7.5 billion.  GMÂ’s shares pared a gain of as much as 4.4% before the start of regular trading Tuesday, rising 3.5% to $35.50 as of 6:55 a.m. in New York. The stock was up 1.9% for the year as of the close on Monday.  North American Strength The automakerÂ’s sales were particularly strong in North America, where first-quarter earnings rose before interest and taxes rose to $3.6 billion. Vehicle sales rose 18% to 707,000 in the region. Jacobson said the company originally expected to sell 15 million vehicles in the US this year, slightly less than the 15.5 million annualized rate automakers foresaw in the first quarter. North American demand was enough to offset a weak performance in China, GMÂ’s second-largest market. The automaker continues to struggle in the country, where its vehicle sales fell 25% to 462,000 vehicles in the quarter. Profits from its joint ventures in the market slumped 65% to $83 million.  The market has struggled overall in the wake of Covid-19 restrictions and foreign automakers have had to overcome a growing preference for Chinese brands by competing on price, squeezing profit margins. The situation in China probably wonÂ’t significantly improve until the second half of the year, according to Jacobson. GM remains on target to sell 150,000 electric vehicles this year, the CFO said.

How a New York cabby can get an MV-1 taxi for just $11k

AM General – the same company that's behind the Hummer – is making it easier for taxi drivers to buy one of its wheelchair accessible cabs in New York. Between the factory's own incentives and those offered by the city, the new MV-1 Empire Taxi can cost as little as $11,200. Unlike other vehicles that can be converted after production for handicapped mobility, the MV-1 is designed by AM General from the get-go as a wheelchair-accessible vehicle. Mobility Ventures LLC – the AM General subsidiary responsible for the MV-1 – displayed a yellow cab version at the New York Auto Show in 2012, and is now bringing it to market as the MV-1 Empire Taxi. Pricing has been announced, and it is rather competitive, to say the least. Mobility Ventures charges $33,000 for one of its wheelchair-accessibly taxis. But the NYC Taxi & Limousine Commission is offering a $14,000 grant toward the purchase of a wheelchair-accessible cab, bringing the purchase price down to $19,000. Of course, the Commission will offer the same incentives towards the purchase of any wheelchair-accessible vehicle, but converting an existing van for the purpose generally costs a good $10-20k. So while a Nissan NV200 Taxi of Tomorrow, for example, might start at under $30k, add in the cost of mobility conversion and you're looking at a lot more – a solid $10k more, according to Mobility Ventures. If the $19k purchase price isn't enough to get New York cabbies on board, the manufacturer and the commission are offering further incentives for some customers. For every wheelchair-bound passenger a driver picks up, the city will pay the cabby 50 cents – that may not sound like a lot, but it adds up over time. What's more, Mobility Ventures will match the incentive for the first 25 customers who buy an MV-1 Empire Taxi, which combined can come to as much as $7,800 in payments over the course of a year. Work that into the equation and the end cost of the new Empire Taxi could come out to just $11,200. Mobility Ventures is working with other cities to offer similar incentives, with negotiations currently under way in Washington with the DC Taxi Commission. Mobility Ventures Unveils New "MV-1 Empire Taxi" for NYC - More Legroom and Luggage Space Than any Other Taxi or Wheelchair Accessible Vehicle - Innovative Program will Match TLC Payments to Drivers for Every Ride in a Wheelchair Accessible Vehicle, Along with Special MV-1 Purchase Discounts NEW YORK, Jan.