Nutson's Weekly Automotive News Wrap-up September 1-7, 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 Wrap-up Week Of September 1-7,
- At last! The infrastructure decade is finally here, so said US DoT Secretary Pete Buttigieg. Public money is flowing for the installation of federally funded EV chargers through programs like the Charging and Fueling Infrastructure (CFI) Discretionary Grant Program and the National Electric Vehicle Infrastructure (NEVI) Formula Program. A gradual ramp up is planned with these programs with first chargers having opened earlier in 2024. The installation rate is planned to peak in 2027/28 for NEVI and CFI, on the way to 500k public chargers by 2030. Clean vehicle program data says half of EV charging occurs at home with workplace charging currently just 10%.
- Stick with what you know. Auto industry brand loyalty rates trended upward in the first half of 2024 following several years of flat or declining values, according to a new S&P Global Mobility analysis of new vehicle registration data through the first half of the year. The increase in loyalty is a positive sign for the industry after several years of lower loyalty levels due to inventory shortages and post-pandemic recovery. Among individual brands, Tesla continues its run as the leader in brand loyalty with a rate of 67.8% for the first half of 2024. General Motors leads all multi-brand manufacturers in manufacturer loyalty for the first half of 2024, at 67.7%. See more details HERE
- US DoE factoid of the week. The Average Commuter Experienced 54 hours of delay due to traffic congestion in 2022. Following a temporary drop in congestion due to the COVID-19 pandemic in 2020, the amount of travel delay commuters experienced in 2022 tied with the previous peak years of 2018 and 2019, with 54 hours of delay per year. Delay due to congestion not only wastes time and fuel, but it also leads to increased engine wear, maintenance costs, and emissions, especially for conventional gasoline vehicles without electrification or stop/start technologies that can help mitigate fuel losses in congested areas.
- Scout's honor.After two years of dreaming big and pushing boundaries, Scout has announced they are ready to show the world the next generation of Scout vehicles. On October 24, 2024 – 44 years after the last Scout II rolled off the line – they’ll officially reveal their new Scout SUV and truck concepts. HERE
- August auto sales. In spite of the holiday weekend August sales results indicate consumers are waiting to make big purchases. August's seasonally adjusted, annualized rate of sales was just 15.1 million vehicles, the lowest pace since January. Hybrids and crossovers drove August U.S. sales, projected to rise 7 to 8 percent last month, with average transaction prices falling as inventory rises and incentives increase. EV sales volume continues to increase but at a slower rate.
- Ford recall. Ford Motor Co. will recall 90,736 vehicles because engine intake valves in the vehicles may break while driving, the National Highway Traffic Safety Administration said. The recall is of certain 2021-2022 Bronco, F-150, Edge, Explorer, Lincoln Nautilus, and Lincoln Aviator vehicles equipped with either a 2.7L or 3.0L Nano EcoBoost engine, the NHTSA said. As part of the remedy, dealers will perform an engine cycle test and replace the engine as necessary, free of charge, the regulator said.
- Toyota recall. Toyota is recalling 43,395 of its 2023-2024 Sequoia Hybrid large SUVs in North America because of a tow hitch cover that could come loose from the rear bumper, posing a potential road hazard and increasing the risk of a crash.
- Not for sale. Frank Rhodes Jr., a great-grandson of Walter P. Chrysler, sent a 17-page letter to Stellantis CEO Carlos Tavares in which Rhodes said he would like to buy Chrysler and Dodge to improve them. The letter, expressing a number of grievances to Stellantis CEO Carlos Tavares, was dated Aug. 26 Stellantis, the company that makes Chrysler, Dodge, Jeep, Ram and Fiat vehicles, said that none of those brands is for sale. Read more HERE
- GM class action law suit. Reuters reports General Motors was ordered by a federal appeals court to face a class action claiming it violated laws of 26 U.S. states by knowingly selling several hundred thousand cars, trucks and SUVs with faulty transmissions. The 6th U.S. Circuit Court of Appeals said a lower court judge had discretion to let drivers sue in groups over Cadillac, Chevrolet and GMC vehicles equipped with 8L45 or 8L90 eight-speed automatic transmissions, and sold in the 2015 through 2019 model years. Drivers said the vehicles shudder and shake in higher gears, and hesitate and lurch in lower gears, even after repair attempts. They also accused GM of telling dealers to provide assurance that harsh shifts were "normal." The GM litigation covers about 800,000 vehicles, including 514,000 in the certified classes. Vehicles include the Cadillac CTS, CT6 and Escalade; Chevrolet Camaro, Colorado, Corvette and Silverado; and GMC Canyon, Sierra and Yukon, among others.
- UK Concours. In the UK, the Concours of Elegance 2024 welcomed thousands to Hampton Court Palace for Europe's leading concours d'elegance event. The 13th edition assembled the rarest and most significant cars, drawn from leading private collections all over the world. Best in Show for 2024 was awarded to 1937 Rolls-Royce Phantom III Convertible by Inskip. Other winners included 1937 Talbot-Lago T150-C SS New York Teardrop, 1960 Aston Martin DB4 GT Zagato and 2023 Aston Martin DBR-22.60 of the world's rarest cars joined main concours, with over 500 cars in total on display over the weekend. MORE HERE
Stay safe. Be Well.
Kind regards, Larry Nutson, the Chicago Car Guy