AutoTrends Weekly

Preface

Uber and Turo announce partnership to bring Turo vehicles to Uber Rent  

• Uber Technologies and Turo, the world's largest peer-to-peer car-sharing marketplace, announced a multi-year partnership that will enable Uber customers to rent from Turo's wide-ranging selection of vehicles directly from the Uber app across key global markets.

• Uber will bring Turo's extraordinary selection of over 1,600 makes and models to the Uber Rent platform, beginning in early 2025. 

• The partnership aims to unlock more opportunities for Turo hosts to turbocharge entrepreneurship, while enabling millions of Uber customers in the US, UK, Canada, Australia and France to get behind the wheel of some of the newest and buzziest vehicles. (PR Newswire, Sept. 5)

Vehicle-to-everything market demand to hit $80.99 billion by 2033

• The automotive Advanced Driver Assistance System (ADAS) aftermarket market is estimated to grow by $3.18 billion from 2022 to 2027, growing at a CAGR of 10.5%, according to a recent report from Technavio.

• The market's growth is mainly driven by declining sensor prices. Lower sensor costs drive accessibility, enhancing aftermarket integration and affordability of these pivotal safety and assistance features in vehicles worldwide. (Technavio, Jan. 12)

SERES allies with SAE-China for intelligent connected new energy vehicle development

• Seres Group Co., Ltd. (SERES), a Chinese technology manufacturing enterprise, signed a strategic cooperation agreement with the China Society of Automotive Engineers (SAE-China) on Sept. 4.

• Under the agreement, the two parties will collaborate in areas including strategic foresight in smart NEV technology, industry consulting, innovation in technology and product services, and the creation of collaborative innovation platforms.

• By combining their strengths and resources, SERES and SAE-China aim to drive technological innovation and industry upgrades, supporting the high-quality development of China's smart NEV sector. (Gasgoo, Sept. 5)

Tesla plans to launch full self-driving service in China and Europe in early 2025

• Tesla announced plans to launch its driving assistance system, full self-driving (FSD) service in China and Europe in the first quarter of 2025, pending regulatory approval.

• Cui Dongshu, secretary-general of the China Passenger Car Association, said that Tesla's FSD system could bring significant innovation and competition to the Chinese EV market.

• Tesla's FSD employs an end-to-end neural network approach.

• Tesla also revealed upcoming enhancements to its FSD service. This update will introduce new features such as end-to-end network on the highway, smart summon, and auto park and FSD features on the new Cybertruck model.

• Consumer interest in Tesla's FSD and autopilot features is expected to grow, with potential buyers attracted by the futuristic and sci-fi-like demonstration of the technologies. (Global Times, Sept. 5)

Toyota to slow EV output to 30% below previous 2026 sales forecast 

• Toyota plans to significantly slow its production of EVs, cutting its global output forecast for 2026 to 1 million cars, some 30% lower than the previously announced sales forecast for the same year.

• Toyota's decision to cut EV production was prompted by the slowdown in the global EV market. Toyota has notified its parts suppliers of the decision.

• Under the new plan, Toyota aims to produce a little more than 400,000 EVs in 2025 and more than double production the following year. (Nikkei Asia, Sept. 6)