Nutson's Weekly Automotive News Wrap-up October 13-19, 2024
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Auto Central October 20, 2024;Every Sunday Larry Nutson, The Chicago Car Guy and Auto Channel Executive Producer, with able assistance from senior Detroit editor Thom Cannell from The Auto Channel Michigan Bureau, compile The Auto Channel's "take" on this past week's automotive news, condensed into easy to digest news Nuggets.
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Nutson's Auto News Wrap-up Week Of October 13-19, 2024
- EV sales continue to rise. According to new estimates from Kelley Blue Book, electric vehicle (EV) sales in the U.S. grew by 11% year over year in the third quarter and reached record highs for both volume and market share. An estimated 346,309 EVs were sold in Q3 2024, a 5% increase from Q2. The EV share of sales in Q3 hit 8.9%, the highest level recorded and an increase from 7.8% in Q3 2023. “While year-over-year growth has slowed, EV sales in the U.S. continue to march higher,” said Stephanie Valdez Streaty, director of Industry Insights at Cox Automotive. “The growth is being fueled in part by incentives and discounts; but as more affordable EVs enter the market and infrastructure improves, we can expect even greater adoption in the coming years.” More details HERE
- US DoE factoid of the week. In 2023, SUVs made up over half of all battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) sales. Manufacturers now offer EVs in a wide range of vehicle classes. The small SUV category had the highest sales, but combined with the standard SUV category, SUVs overall accounted for 53% of BEV sales and 83% of all PHEV sales. Cars were under 10% of all PHEV sales but accounted for 43.4% of BEV sales.
- Used EV deals. Discounts on new EVs has caused prices for previously owned electric vehicles to plunge. In September, the average selling price of a three-year-old electric vehicle was about $28,400, less than that of a gas-engine vehicle of the same age and a 25% drop from the start of 2023, according to car-shopping website Edmunds. Auto executives admit they misjudged the EV market, and that miscalculation is taking a toll on the used-EV prices. Get the full story HERE
- It's about charging, not range. Although the Biden administration is accelerating the expansion of EV charging infrastructure through tax credits and federal investments, and the number of public charging ports has doubled in four years, that hasn't been able to keep charging from replacing range as a top concern for EV user, writes Alan Jenn, a transportation researcher at the University of California, Davis. Issues such as charger reliability, slow charging speeds and accessibility of stations remain challenges, highlighting the need for improved maintenance, collaboration and user experience to support widespread EV adoption, Jenn writes. Read more HERE
- Good things are worth waiting for. After seven years since its first showing the VW ID. Buzz all-electric minivan is at long last landing on US shores for sale. It is the first all-electric three-row minivan to be sold in the US. Will minivans be cool again? HERE
- Plug-in hybrid paradox. The latest E-Vision Intelligence report from JD Power says despite heavy marketing pushes and high-profile introductions of new models, Plug-in Hybrid (PHEV) sales are not yet making a significant dent in total auto industry market share. Through August, PHEVs represented just 1.9% of total vehicle sales, which is down slightly from July. That compares with 9.4% market share among BEVs and 10.7% among HEVs. In terms of vehicle availability, there are currently 41 different PHEV models available in the U.S. market. By comparison, there are 39 HEV and 60 BEV models currently available. Get the details here: HERE
- More flood damaged cars. Hurricane Helene left as many as 138,000 vehicles flood damaged after it tore through at least six states, CARFAX estimates. Floodwaters swamped communities in Florida, Georgia, North and South Carolina, Virginia and Tennessee. That's on top of the estimated up to 89,000 vehicles already hit with water damage so far this year, according to CARFAX estimates. Thousands of these flood damaged cars will be up for sale within weeks, cleaned up by potential scammers to be sold nearby, or thousands of miles away from the original incident. HERE
- MAMA's Favorites. The Midwest Automotive Media Association (MAMA) hosted its second annual MAMA’s Favorites Fall Fest on Wednesday, Oct. 2, at the scenic Arrowhead Golf Club in Wheaton. Illinois. More than 50 MAMA-member journalists attended what turned out to be a beautifully warm fall day to get behind the wheel of nearly 40 new, refreshed or updated vehicles across all powertrains. The vehicle winners from each category can be found HERE
- Reuss Pilots Made In USA Corvette To Fastest All Time Corvette Speed GM President Mark Reuss drove the 1064-horsepower Corvette ZR1 to a top speed of 233 mph on a test track in Germany. That makes it the fastest production vehicle ever made by the American automaker. Reuss set the record on the straightaways of the High-Speed Oval Track at ATP Automotive Testing Papenburg. More details here: HERE
- Fisker Bankruptcy. Fisker Inc. will wind down operations under a judge-approved bankruptcy plan that should allow car owners to drive their cars for years – while not paying anything to shareholders who were wiped out investing in the defunct Southern California electric-vehicle maker.HERE
- Hey Biker's Wear a helmet. A new study by the Insurance Institute for Highway Safety (IIHS) suggests that stricter motorcycle helmet laws would have prevented deaths. According to the study, 22,058 motorcyclists who died in crashes in the United States between 1976 and 2022 would have survived if every state required all motorcyclists to wear helmets. This number of fatalities represents 11 percent of all motorcyclist fatalities during that time. Currently, only 17 states and the District of Columbia have all-rider helmet laws in place. In mid-1975, 47 states and the District of Columbia had such laws on the books but many have since remived them. Full story HERE
- Hyundai park outside recall. Hyundai is recalling the hydrogen-powered Nexo and telling the owners to park them outdoors and away from structures due to the risk of fuel leaks and possible fires. Nearly 1,600 Nexo hydrogen fuel cell vehicles in the U.S. and Canada from the 2019 through 2024 model years are affected. In documents from Hyundai posted by U.S. safety regulators they say that a pressure relief device can break and cause a hydrogen leak. That could cause a fire even while the SUVs are parked.
- Alfa Romeo and Dodge recall. Stellantis is recalling 44,500 hybrid crossover SUVs in the US, Canada, Mexico and other global locations because the brake pedal in the vehicles could disengage and stop working. The recall includes some 2024 and 2025 model-year Alfa Romeo Tonale plug-in hybrid SUVs and some 2024 model-year Dodge Hornet plug-in SUVs that are based on the same platform. Dealers will reinforce the brake pedal by adding a bolt and nut, Stellantis said.
- Ford EV Adapter Issue. Ford is recommending to its F-150 Lightning and Mach-e EV owners to stop using the Tesla NACS (SAE J3400) adapter that was sent to them. The adapter may have an issue that results in reduced charging speed and possible charge port damage. Ford wil be sending a replacement. Here's the details. HERE
- Motorsports in the US has taken a turn. Michael Andretti was at the Circuit of the Americas this time last year trying to drum up support for a Formula 1 team. F1 returns to Texas this week after Andretti shockingly walked away from racing and the future of the second American F1 team he fought so hard for is unknown. It is a wild time for motorsport in the United States, which hosts F1 for the second of three visits this week. NASCAR opens the third round of the playoffs full of off-track storylines and IndyCar is just looking for a stable offseason in which owner Roger Penske can deliver on his promise of growth. Just to catch up: HERE
- RIP. August "Augie" Pabst Jr., the great-grandson of Milwaukee brewing legends and motorsports icon, has died. He was 90 years old. Pabst's 10-year racing journey included two national championships: the 1959 USAC Road Racing Championship and the 1960 SCCA Championship. More
HERE
Stay safe. Be Well.