Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
Sales of battery-based vehicles have lagged well behind industry expectations, but there's a silver lining for manufacturers: Buyers of these vehicles are younger and more affluent than drivers who purchase comparable gas-powered models.
But for many drivers, going green wasn't the only reason to choose electric. According to research by auto data firm TrueCar.com, many electric vehicle buyers were attracted by the deals being offered by such manufacturers as Ford, General Motors, Toyota and Honda as they try to build momentum in the category.
Federal and state subsidies, which can amount to as much as $10,000, also play a role.
"EV buyers are affluent deal-seekers," said John Krafcik, president of TrueCar.
The Ford Focus offers a bit of insight into the divide between traditional and electric car owners. A typical buyer of the model's conventional, gasoline-powered vehicle is 46 years old and has a household income of $77,000. The Focus Electric, however, is typically purchased by a 43-year-old with a household income of $199,000.
That pattern repeats itself across the industry, according to TrueCar. Buyers of the electric Fiat 500e average 45 years of age and have a household income of $145,000. That's twice the money of a conventional Fiat 500 buyers—and two years younger, on average.
For the U.S. auto industry on the whole, the typical buyer is 52 years old with an $86,000 household income, Krafcik said.
Based on the manufacturer suggested retail price, battery-based vehicles typically cost more than comparable gas models. But that gap is closing as manufacturers drive down the cost of the green technology—and often swallow much of the premium in order to boost demand.
Not all battery-car buyers are looking for a bargain, however. Tesla has never run incentives on its Model S sedan, which can cost upwards of $100,000.