Nutson's Weekly Automotive News Wrap-up June 9-15, 2024
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Here are Larry's top story picks from this past week's important to you, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as expertly crafted easy-to-understand automotive news nuggets.
Nutson's Auto News Weekly Wrap-up June 9-15, 2024.
* Prices down. Availability up. New-vehicle prices continue to trend lower, clocking in at $48,389, and down nearly 1% year over year according to Kelley Blue Book’s new-vehicle average transaction price report for May. On the increase were: incentives—up to an average of 6.7%, helping make vehicles more affordable; new-vehicle inventory numbers—estimated at 2.84M and the highest point since late 2020; overall EV transaction prices—the average price paid for an electric vehicle in May was $56,648, 2.6% higher than in April; the share of vehicles transacting below $40,000 increased compared to May 2023, suggesting a market shifting to more affordable models
* Drivers OK with speed warning. More than 60% of drivers would find it acceptable if their vehicle provided an audible and visual warning when they exceeded the posted speed limit, a new survey from the Insurance Institute for Highway Safety shows. Perhaps more surprisingly, about half of drivers say they wouldn’t mind vehicle technology that makes the accelerator pedal harder to press or automatically restricts speed. “These findings are exciting because they suggest American drivers are willing to change how they drive to make our roads safer,” IIHS President David Harkey said. “The conventional wisdom has always been that speed-restricting technology would never fly in our car-centric culture.” Details HERE
* High insurance cost for EVs. You can still get insurance for any vehicle in any state but, at a time when motorists already are moaning about expensive coverage, EVs could add to the burden. They are often more expensive than gas-powered cars and typically cost more to repair, which leads to larger claims. EVs naturally have more torque, which means that their electric motors can instantly deliver power to the wheels. Some insurers worry that faster acceleration from traffic lights could lead to more accidents. Read the full story HERE
* More EV chargers. IONNA, the charging network founded by a coalition of the world’s top automakers: BMW, General Motors, Honda, Hyundai, Mercedes-Benz, Kia and Stellantis, announced the selection of Durham, North Carolina as its global headquarters. This milestone moment for IONNA comes after receiving regulatory approval, and the commencement of operations in February. IONNA’s new home will enable the company to ramp up operations and begin to reimagine the electric vehicle charging and its commitment to build North America’s leading charging network of 30,000+ ultra-fast charging stations. The joint venture anticipates opening its first charging stations in the United States in 2024.
* Talking about EVs. Yours truly, me, Larry Nutson, was both co-host and guest commentator with Tom Appel and his Consumer Guide Car Stuff Podcast. I spoke about my experiences renting an EV and the progress in the NEVI program that supports EV charging station build-out across the US. Give a listen. HERE
* MAMA's favorites. The Midwest Automotive Media Association (MAMA) hosted its 2024 Rally May 21-23 at Road America. 100 journalists put nearly 80 vehicles through their paces on track, autocross, street drives, and a technical off-road course sponsored by Jeep. MAMA welcomed new brands INEOS and Polaris to the event along with a new track day sponsor, Brembo. Members chose MAMA’s Favorites awards with winners in seven categories. See the winners HERE
* Buy USA. Jeep remains America’s most patriotic brand, according to the annual Brand Keys survey. Jeep has held the top spot for 23 years in a row. Ford, Coca-Cola, Disney, Harley Davidson and Jack Daniels also rank in the top ten of the patriotism parade. HERE
* No car; gas car. A recent McKinsey & Co. study reports that 29% of respondents say they want to replace their private vehicle with other forms of transportation in the next 10 years. And, more than a quarter of EV owners are likely to return to combustion engine vehicles for their next purchase.
* Headlines of note.
- GM CFO Paul Jacobson told investors that GM plans to build fewer EVs because it now expects them to make up a lower percentage of total auto sales than expected this year.
- Ford CFO is quoted as saying rising inventories across the industry 'worries me.' Lawler said the company continues to aim for dealers to carry 50 to 60 days' supply.
* Kia recall---another, park outside. Kia America is recalling nearly 463,000 Telluride SUVs due to a problem with the power seats. Owners are urged to park their vehicle outside in case the seat spontaneously catches fire, federal highway safety regulators warned. The South Korean automaker announced a recall of certain Tellurides from model years 2020-2024 because the motor that controls the power seats on the vehicles can potentially overheat due to a problem with the switch.
* Dodge and Ram recall. Stellantis North America is recalling more than 211,000 SUVs and pickup trucks in the U.S., due to a software malfunction that could disable the cars' electronic stability control systems. The recall covers certain model year 2022 Dodge Durango, Ram 2500 and Ram 3500 vehicles. According to documents published by the National Highway Traffic Safety Administration, these cars may experience a malfunction in their anti-lock braking control module – which could cause stability control, a key safety feature, to fail and increase the risk of crash as a result.
* Volvo recall. Volvo has announced a recall of all EX30 vehicles, nearly 72,000 in all, because of a relatively minor software error. In a statement, the Sweden-based car manufacturer says EX30 vehicles can accidentally throw up a "test screen" on the center monitor, obscuring the normal driving statistics shown there including the speedometer and infotainment features. The exact cause of the bug has yet to be disclosed.
* Fisker recall. Fisker said it was recalling more than 18,000 cars in North America and Europe due to faulty software and non-compliance with safety standards, in the latest setback for the cash-strapped electric-vehicle startup. The Manhattan Beach, California-based company is "voluntarily recalling" 11,201 Fisker Oceans in the U.S., Canada, and Europe to fix software issues that may cause the vehicle to enter a safe state protection mode, potentially leading to a loss of motor power. It is also recalling 6,864 Fisker Oceans in the U.S. as they do not meet Federal Motor Vehicle Safety Standards (FMVSS) for gauges and telltale icons in the cluster display. It is also recalling 281 of the vehicles in Canada.
* Self-driving recall. Alphabet's robotaxi company Waymo has voluntarily recalled all its 672 self-driving vehicles, according to a safety recall report released by the National Highway Traffic Safety Administration. The report said that on May 21, a Waymo vehicle driving in Phoenix hit a utility pole while attempting a low-speed pullover maneuver. There were no passengers in the car or injuries related to the crash, according to the report, only damage to the car. Waymo estimated that 100% of its cars had the defect/design deficiency that caused the crash, according to the NHTSA report, which contributed to the decision to recall the software in all its cars. Waymo controls all its cars and said that it has issued updates to address the issue in its entire fleet, according to the report.
* EV world speed record. From our friends at Headlight.news we read a little-known Japanese hypercar company has set a new world record for fastest EV, its Aspark SP600 topping 270 mph during a run down a special track in Germany. It handily topped the prior record set by the Rimac Nevera. Aspark Co., Ltd. was founded 19 years ago by Japanese businessman Masanori Yoshida and focused on the technical, medical and chemical fields. Barely a decade later, Yoshida decided to add battery-electric vehicles to that list. The SP600 was driven by Marc Basseng, a race driver best known for claiming the 2012 FIA GT1 World Championship, at Automotive Testing Papenburg in Germany. On its final run on June 8, the Aspark hypercar hit 272.59 mph, beating the prior champ by an astounding 14 mph.
* 24 Hours of Le Mans. The stage was set for the epic around-the-clock 24 Heures du Mans, on the 101st anniversary of the first edition of the great race where there have been 143 victorious drivers from 20 individual countries and 25 winning manufacturers representing 7 different nations in the race’s 91 editions. The #6 works Porsche 963 of Porsche Penske Motorsports will start the 92nd 24 Hours of Le Mans in pole position. In total 62 cars will begin the 24-hour endurance race on the Circuit de la Sarthe which is over eight miles long and includes public roads. Eight Hypercars representing five manufacturers, eight Oreca 07-Gibson LMP2s and eight LMGT3s built by a mind-boggling seven different carmakers qualified for the race.
* RIP. Françoise Hardy died this week at the age of 80. Who is this French lady? Mainly known for singing melancholic sentimental ballads, Hardy had an acting role in "Grand Prix" the 1966 American sports drama film directed by John Frankenheimer. She took the role of the girlfriend, Lisa, of Ferrari driver Nino Barlini played by Antonio Sabàto.
Stay safe. Be Well.