Nutson's Weekly Auto News Wrap-up November 28 - December 4, 2021;
AUTO CENTRAL CHICAGO - December 5, 2021; Every Sunday Larry Nutson, The Chicago Car Guy and Executive Producer, with able assistance from senior 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.
LEARN MORE: Full versions of today's news nuggets along with thousands of pages of relevant news and opinions, information stored in a million page library published and indexed on The Auto Channel during the past 25 years. Complete information can be found by copying a bold headline and then inserting into any Site Search Box.
Nutson's Automotive News Wrap-up - Week Ending December 4, 2021; Below are the past week's important, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as expertly crafted easy-to-digest news nuggets.
* Honda, Hyundai, Kia, Mazda, Subaru and Toyota all reported sales declines for November compared last year. On the other hand Ford sales are up 5.9%. Ford claimed it was the best-selling automaker in the U.S. for the third consecutive month. The annual sales rate (SAAR) dropped to 13.8 million vehicles.
* Nissan Ambition 2030 Japan's Nissan Motor Co., Ltd. unveiled Nissan Ambition 2030, the company’s new long-term vision for empowering mobility and beyond. Over the next ten years, Nissan will deliver electrified vehicles and technological innovations while expanding its operations globally. The vision supports Nissan’s goal to be carbon neutral across the life cycle of its products by fiscal year 2050. With the introduction of 20 new EV and e-POWER equipped models in the next five years, Nissan intends to increase its electrification sales mix across major markets by fiscal year 2026, including: Europe by more than 75% of sales; Japan by more than 55% of sales; China by more than 40% of sales; and, the United States by 40% of EV sales in fiscal year 2030.
* Art Basel Miami The Artist Hubert Phipps and the supercar designer ARES Modena are collaborating during Art Basel Miami to launch a new exhibition, and to debut the first ARES Modena Showroom in North America in the Miami Design District. The new ARES S1 supercar model was flown from Italy to Miami, and has never been shown in North America. Only 24 versions of the ARES S1 supercar will be created in the entire world, each tailor-made to the client’s desires and taste, making each design unique.
* Biden Union Tax Support: Reuters reports a Mexican official threatened to hit the United States where it hurts if the Biden administration and Congress go through with a proposal to give up to $4,500 in additional tax subsidies to EVs made by United Auto Workers labor in U.S. factories. The UAW Super Subsidy is in trouble enough with members of Congress whose states have non-union auto plants.
* Biden Subsidizing E Bikes NowWithin the more than 2,000 pages of the Build Back Better spending bill is a tax credit of up to $900 for e-bikes. E-bikes could, for the first time, get a push from the federal government. The bill provides a credit of 30% for up to $3,000 spent on a new e-bike, excluding bikes that cost more than $4,000. The credits also phase out according to household income beginning at $75,000 for a single taxpayer.
*Bronco Sport Recall: Ford is recalling about 125,000 Bronco Sport and Escape vehicles over rear brake defect. The recall covers vehicles from the 2021-22 model years.
* Honda Hood Recall: Honda is recalling nearly 789,000 U.S. vehicles for hoods that may open while driving. The recall covers certain 2019 Passport utility vehicles, 2016-19 Pilot utility vehicles and 2017-20 Ridgeline pickups.
* Hagerty, Inc. the automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, announced that shares of its common stock and warrants will begin trading on the New York Stock Exchange under the ticker symbols HGTY and HGTY.WS, respectively. This follows the completion of the Company's previously announced business combination with Aldel Financial Inc. ("Aldel"), a publicly traded special purpose acquisition company. Aldel shareholders approved the business combination at a special meeting held on December 1.
* NASCAR News:It was announced that long-time NASCAR team owner Maury Gallagher has purchased the majority interest in Richard Petty Motorsports for a reported $19.1 million from Richard Petty, 84, effective immediately. For the first time in NASCAR’s 72-year history there won’t be a Petty as an active participant or majority team owner in the sport next year. The sale from Petty to Gallagher includes the two RPM charters for use in 2022.
* RIP Formula 1 Frank Williams Sir Frank Williams, the founder of one of Formula 1’s most successful teams that carries his name, has died at the age of 79. Williams first entered a car in F1 in 1969 under Frank Williams Racing Cars but it was the creation of Williams Grand Prix Engineering in 1977 that would lead to numerous victories and championships. The first of those came in 1980 with Alan Jones, and to date Williams has won seven drivers’ championships and nine constructors’ titles, with the latest coming in 1997. In 1986, Sir Frank was involved in a serious car accident that rendered him a tetraplegic and left him in a wheelchair, but he continued to run the Formula 1 operation.
Stay safe. Be Well.