Tag Archives for: Cars

SWAPALEASE.COM IDENTIFIES TREND WHERE DEALERS ARE BUYING OUT MORE EXISTING LEASED VEHICLES TO ALLEVIATE INVENTORY SHORTAGES

October 20, 2021

SWAPALEASE.COM IDENTIFIES TREND WHERE DEALERS ARE BUYING OUT MORE EXISTING LEASED VEHICLES TO ALLEVIATE INVENTORY SHORTAGES

New Trend Helps Brands Like Honda and Nissan See the Value of Modernizing Their Lease Policies

CINCINNATI, OHIO (October 20, 2021) – Swapalease.com, the nation’s largest car lease marketplace, released today new data that uncovers a growing trend in auto leases that is directly tied in with the ongoing microchip shortages and new-vehicle dealership inventory challenges.

Over the past 12 months Swapalease.com is seeing a nearly 500% increase in the number of leases getting bought out in its nationwide online marketplace. These leased vehicles are listed typically between 15 and 20 months old, and in many cases have less than 25,000 miles making them an extremely attractive source of used vehicle options on the dealer lot.

Customers greatly benefit on both end of the spectrum: 1) buyers at dealers have access to more used vehicle inventory and more selection to choose from; and 2) people listing vehicles on the Swapalease.com marketplace from brands with unfavorable and outdated lease policies are having more success escaping their lease contracts.

Brands such as Honda, Nissan, and Kia have traditionally made it extremely difficult for their lease customers to transfer leases for a variety of life reasons that have nothing to do with vehicle or brand preference. In many cases people want to remain with the same brand for their next vehicle, but the frustrations associated with transfer obstacles force people to eventually choose a different brand in their next car or truck. The current dealer lease buyout climate is offering these brands a glimpse at how modifying their policies might benefit them going forward.

“Many people simply want or need to change vehicles because they are having a new baby or are moving to a different part of the country and their existing car or truck no longer works for them,” said Scot Hall, Executive Vice President of Swapalease.com. “They are happy with the brand they are with, but the difficult experience drives them into another brand. Hopefully, the current situation helps these brands see the value in modifying and modernizing their lease policies especially once the market normalizes.”

About Swapalease.com:

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.

 

ElectraMeccanica Announces New Cost-Effective Aluminum Chassis for Flagship, Single-Occupant SOLO EV

April 07, 2020

ElectraMeccanica Announces New Cost-Effective Aluminum Chassis for Flagship, Single-Occupant SOLO EV

 

 

VANCOUVER, British Columbia, April 07, 2020  — ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, has announced the engineering and development of a new, cost-effective aluminum chassis for the Company’s flagship, single-occupant SOLO electric vehicle (EV).

The new, high strength, drop-in aluminum chassis will replace the current composite chassis in the SOLO EV, making it much better suited for mass production by reducing the overall weight and per-unit assembly cost of the vehicle. ElectraMeccanica has engaged a Tier-One engineering partner with a global presence, which will provide on-the-ground support in both Canada and China.

“This project represents our continued focus on evolving the safety, comfort and design of our flagship single-occupant SOLO EV, while incorporating important cost saving advantages to improve margins in mass-production,” said Paul Rivera, Chief Executive Officer of ElectraMeccanica. “The partner we’ve selected for this project brings significant expertise in lightweight, high-strength automotive safety structures that are perfectly suited for the SOLO. We look forward to the impending launch of the revolutionary SOLO EV later this year.”

With an MSRP of $18,500, the SOLO EV is a trend-setting all-electric, single-seat vehicle expected to revolutionize the commuting, delivery and shared mobility experience. To be one of the first to own a SOLO, please reserve yours online by visiting www.electrameccanica.com.

About ElectraMeccanica Vehicles Corp.   
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles. The company’s flagship vehicle is the innovative purpose built; single-seat electric vehicle called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. The SOLO provides a driving experience that is unique, trendy, fun, affordable and environmentally friendly. InterMeccanica, a subsidiary of ElectraMeccanica, has successfully been building high-end specialty cars for 61 years. For more information, please visit www.electrameccanica.com.

Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the automotive industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Company Contact:
Ms. Bal Bhullar, CPA, CGA, CRM
Chief Financial Officer & Director
(604) 428-7656
Bal@electrameccanica.com

Investor Relations:
Greg Falesnik
Managing Director
MZ Group – MZ North America
(949) 385-6449
SOLO@mzgroup.us
www.mzgroup.us

The Biggest Automotive Lightweighting Conference In The World Returns To Detroit At The CObo Center

May 17, 2018

 

 

The Biggest Automotive Lightweighting Conference In The World Returns To Detroit At The CObo Center

 

 

7th Global Automotive Lightweight Materials Detroit Summit
3 Day Summit – 21, 22 & 23 August 2018, COBO Center, Detroit, USA
www.global-automotive-lightweight-materials-detroit.com

 

 

 

The transition to a new generation of EV, autonomous and ICEV platforms, architectures and associated lightweight multi-material structures is gaining pace.  This is giving rise to a wide range of opportunities for new technology adoption and engineering innovation, but also creates potentially disruptive challenges for vehicle designers, engineers and their suppliers.

To address these new directions for the automotive industry, we are delighted to announce the 7th Global Automotive Lightweight Materials Detroit Summit – North America’s flagship OEM driven initiative on automotive materials, structures and manufacturing technologies.  This year’s summit returns to the CObo Center to focus on implementing lightweighting innovations & optimizing multi-material architectures for EV’s, autonomous vehicles & next-gen ICEVs.

With an agenda based on extensive research with more than 40 OEMs, the Summit will provide an unrivalled mix of new in-depth technical sessions, case study-led presentations and panel discussions on the hottest issues, enabling greater interaction between speakers and delegates than ever before.  As in previous years, there will be an adjoining exhibition hall showcasing the latest technologies, advanced materials and manufacturing processes for Body In White.

NEW for 2018 – Key Technical Focus & Innovation Areas include:

In-depth exploration of innovations toward EVs and autonomous vehicles – the automotive industry’s key focus for investment and development:
Explore new architectures, structures – whether predominantly steel, aluminum, or mixed-material – and battery integration strategies that offer best performance and improved crashworthiness that meet stringent safety regulations

Specific coverage of main vehicle segments and different design philosophies in choice of architectures, body structures and advanced materials:
Focus on EVs and next-gen ICEVs in SUVs, crossovers, city cars, sedans, luxury high performance EVs and electric commercial vehicles.

Increased focus on innovation in materials, structures and enhanced manufacturability reflecting the evolution in vehicle platforms and architectures:
Showcase of the most innovative BIWs for engineers evaluating the latest technical advancements in forming, joining, coating and testing processes first hand
How to get the most out of using lightweight materials and combine them effectively.

Greater networking and interactive discussion opportunities with leading OEMs and recent start-ups in EV and autonomous vehicles:
Introducing technical leaders and chief engineers in advanced design, body engineering,  simulation and predictive modeling, lightweight high strength metals and composites, manufacturing processes and automation.

Do not miss this interactive and dynamic industry gathering for automotive engineers and technology innovators in materials and structures. The agenda with speaker line-up will be announced shortly.

For more information, visit http://www.global-automotive-lightweight-materials-detroit.com/