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New Car Sales Down But Prices, Profits Up in December

December sales are expected to be lower according to forecasts.

Depressed December new-vehicle sales may have automakers facing a blue Christmas, but retailers are seeing record high transaction prices.

That’s the takeaway from two new reports from J.D. Power and TrueCar. And unlike previous years, don’t expect a big sales blowout to clear the lots.

“Historically, December is a big month for the industry as OEMs and dealerships work to close out the calendar year with strong sales. The last week of the month is also typically the biggest week of the year in terms of sales volumes but it’s unlikely to happen this year due to continued inventory shortages and declining incentives,” said Nick Woolard, lead industry analyst at TrueCar.

December retail sales decline from 2020

A joint forecast from J.D. Power and LMC Automotive forecasts new vehicle retail sales this of 1,105,800 units this month. That’s a 17.4% decrease compared with December 2020, when adjusted for selling days. (This year has one fewer sales day than last year.) Without the adjustment, year-over-year sales dropped 20.4% in 2020.

Similarly, TrueCar predicts U.S. retail deliveries of new cars and light trucks to be 1,024,263 units, down 27% from a year ago and on par with November 2021.

That number excludes fleet sales. Fleet sales are even more depressed, according to TrueCar. The expectation for December 2021 is a 29% decrease in sales from a year ago and decline of 3% from November 2021 when adjusted for the same number of selling days.

Vehicles continue to be in short supply, with nearly 57% of vehicles selling within 10 days of arriving at a dealership. That’s a record, according to J.D. Power, which notes that vehicles remain on dealer lots for a mere 17 days, a record low, and down from 49 days a year ago. TrueCar pegs that number at 18 days, up from previous months, but still near historic lows.

The average new vehicle transaction price is expected to reach $45,743 this month.

Short supply fueling higher prices

The short supply of new vehicles is leading to higher average transaction prices.

“While the inventory situation has improved modestly since November, supply remains well below the level at which consumer demand for new vehicles can be met. Intense demand with this limited supply is resulting in prices continuing to increase,” said Thomas King, president of the data and analytics at J.D. Power.

King notes average transaction prices are expected to reach a record $45,743 this month, 20% higher than December 2020 and the first time that number has passed $45,000.

The higher prices are the result of reduced incentive spending by OEMs, with the average manufacturer incentive per vehicle totaling $1,598, a decrease of $2,291 from a year ago. That’s 3.5% of the average vehicle MSRP, down from almost 5.5% a year ago, according to King.

Automakers have drastically cut incentive spending, leading to higher prices.

TrueCar’s forecast a similar story, with automaker incentive spending down 55%. This is leading to an average transaction price projected to increase 7.5% from December 2020 and rise 2.5% from November 2021.

Incentive spending is tumbling, according to TrueCar. Year over year, General Motors cut its incentive spending 64.7%, the most of any automaker. Nissan cut its spending 57%, Hyundai 54%, Toyota 53.5%, Volkswagen Group 51.35%, BMW 47.3%, Stellantis 46.5%, Ford 41.8%, Kia 41.6%, Honda 40.9%, Daimler 37% and Subaru 31.9 percent. Subaru was lowest by dollar amount of the OEMs examined at $1,006. Daimler was the highest at $2,738.

Who’s benefitting most? Retailers

But retailers are benefitting from current market conditions. Although volume is lower, Dealers’ profit per unit — inclusive of grosses and finance & insurance income — is forecast to hit a record $5,258, up from $3,277 from a year ago. This has led to record dealer profits, which are projected to be up 254% from December 2019, reaching an industry aggregate revenue of $5.8 billion — an industry record.

The higher prices are leading to record retailer profits.

And the strong vehicle demand for new vehicles is fueling record used vehicle prices, which is giving buyers more equity on their trade-ins, with the average trade-in equity for December expected to reach $10,199, up from $4,623 from a year ago, and an 83% increase. That increased equity helps make pricier vehicles more affordable, as has a decrease in the average interest rate in December. It’s expected to decline nine basis points to 4.05 percent.

But increased equity and lower interest rates hasn’t helped fitting a car payment into the family budget. The average new vehicle payment is expected to reach $680, up $78 from December 2020, and a record high, according to Power. TrueCar paints a similar picture, with the average interest rate on new vehicles is 4.3% and the average interest rate on used vehicles is 7.5%. The average loan term for both new and used vehicles is 70 months.

2022 should be better than 2021

When it comes time total calendar year sales, expectations are for an improvement from 2020.

Supply should improve next year, but will remain near record lows.

“Full year 2021 will still show a solid sales increase from 2020. The year-over-year sales declines experienced every month in the second half of 2021 were not enough to wash the record sales pace in the first half of the year,” King said.

But it should improve during the next 12 months.

“Indications are that shipments will rise incrementally as the year goes on, allowing sales to rise from 2021 levels. However, pent-up consumer demand will keep inventory levels near historical lows,” King said.

TrueCar also sees inventories improving, but incrementally.

“We continue to see signals of stability and in some cases, slight improvement. One such indicator, our scarcity measure, shows improvement in recent months for both new and used vehicles,” said Valeri Tompkins, senior vice president of OEM Solutions at TrueCar. “However, questions still remain as to the trajectory of improvement we can expect to see in 2022.”

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First Look: 2022 Rolls Royce Ghost Black Badge

Who would have thought you could make the Rolls-Royce Ghost look so sinister?

Rolls-Royce revealed a new addition to the Rolls-Royce Ghost line-up in Miami Thursday — the Black Badge — during a North America dealer meeting that saw about 100 retailers meet with the automaker’s top executives.

The automaker revealed the new model to dealers at the Mad nightclub in the hip and trendy Wynnewood section of Miami, and will do the same for customers later this week.

“We just felt this was very Black Badge,” said Richard Carter, director of communications for Rolls-Royce Motor Cars. “It’s very, noir; It’s very alternative; and that’s the essence of Black Badge.”

The Rolls-Royce Ghost Black Badge expands a line-up that began with the Wraith coupe, followed by the Phantom sedan in 2016, the Dawn cabriolet in 2017 and the Cullinan SUV in 2019. The murdered-out Black Badge models now account for more than 27% of Rolls-Royce sales worldwide, including 40% of Cullinan sales.

The darker side of opulence

To realize the Ghost Black Badge’s menacing demeanor, the company uses 100 pounds of the industry’s darkest black paint. The Spirit of Ecstasy and Pantheon Grille are darkened using a chrome electrolyte applied during chrome plating. The new model wears exclusive 21-inch wheels with as many as 44 layers of carbon fiber.

The 2022 Rolls-Royce Ghost Black Badge can be had in more that 44,000 different hues, although most Black Badge customers choose black.

As you’d expect, interior components are darkened including air vents and the wood veneer, along with Black Badge badging and other unique interior touches, although clients are free to specify any number of colors and trim to be used on the car’s interior.

Engineers also contributed, fitting larger air springs to alleviate body roll during assertive cornering. There’s also roughly 29 additional horsepower and a revised transmission to make the Black Badge a bit more athletic. They also reduced brake pedal travel.

A quick turn behind the wheel of pre-production prototypes revealed a car that can be driven more aggressively than your average Ghost. Grip is impressive while cornering, staying firmly planted despite some noticeable body roll. Body motions never become excessive, and rebound over bumps is very well controlled. Yet its agility doesn’t come at the expense of the brand’s legendary comfort.

An idea born in Beverly Hills

The idea of Black Badge occurred in 2014 in Beverly Hills.

“This whole notion of the alter ego of Rolls Royce, the slightly noir, naughty, edgy side of Rolls Royce is something that we were thinking about. We were looking at ways and means of lowering the age profile of our brand,” Carter said.

The Pantheon Grille and Spirit of Ecstasy also receive the Black Badge treatment.

At the time, the brand had one model, the Phantom, and an average buyer’s age of 57. “We were selling one model to a dying set of customers, and there was no future in that,” he said.

At the time, the company was about to release the first-generation Ghost, followed by its two-door spinoff, the Wraith, both of which would attract younger buyers. But the company needed more. They were searching for an idea, but hadn’t settled on anything yet.

Torsten Müller-Ötvös, chief executive officer, Rolls-Royce Motor Cars, was waiting for a car to pick him up at the SLS Hotel in Beverly Hills when a murdered-out Phantom Coupe pulled up. Ötvös was stunned, and asked the owner why he modified his Phantom.

“He told me over the weekend, that he wants to be a different kind of character,” Ötvös said. “For some of the week, he is friendly and nice. But over the weekend, he wants to be something different. He enjoyed playing a different role; how he was dressed, looked and talked.”

A couple weeks later, Ötvös had similar experiences particularly in the United States, particularly in California. This led to the creation of Black Badge at a time where murdered-out cars weren’t mainstream.

A surprising success

The Ghost Black Badge is revealed for the first time at the Mad nightclub in Miami.

Initially, executives expected Black Badge models to have a 10%-15% take rate. But they were mistaken. It turned out to be a stunning success, with a far higher take rate. Currently, Black Badge represents 40% of Cullinan sales. Black Badge, along with new models like Ghost, Wraith and Cullinan, have brought the average Rolls-Royce buyer’s age down to 43, quite a large drop in a little less than a decade.

“We are even younger than Mini as a brand in the BMW Group,” Ötvös said, who then explained that the type of wealthy car buyer has changed.

“When you look into ultra-high net worth individuals, those people who are our target group worldwide, they became younger and younger over time because the way to generate wealth is very, very different from what it used to be 15-to-20 years ago.”

Rolls-Royce sees its Black Badge line as one that appeals to iconoclasts, a type of buyer that the brand has always attracted, particularly during the pre-World War II years, when all coachwork was custom built.

“Black Badge was the most instrumental piece we had in an all-new brand strategy to massively decrease the average age and illuminate the brand in a significant way,” Ötvös said.

Mission accomplished.

First Look: Mitsubishi Outlander PHEV

The new Mitsubishi Outlander already has proven to be one of the most important products the long-struggling automaker has launched in its bid to become relevant to U.S. motorists again. Now, Mitsubishi is hoping to gain even more traction with the upcoming launch of a plug-in hybrid version.

2022 Mitsubishi Outlander Hero Image — The gas-powered 2022 Mitsubishi Outlander made its debut in February.

The Japanese automaker claims it will yield more range than the old Outlander PHEV, at an estimated 87 km, or nearly 55 miles, per charge — though that’s using the global WLTP test cycle and will likely come down once the American version is tested by the EPA.

“With low (carbon dioxide) emissions and environmental impact from manufacturing and use,” said Takao Kato, MMC’s president and CEO, “the all-new Outlander PHEV model can be considered the best solution for carbon neutrality today.”

Updated, upgraded drivetrain

The Outlander was first introduced in 2001 and, with the fourth generation, it has become a core part of the brand, accounting for about 20% of its global volume. The first plug-in hybrid version was unveiled at the 2012 Paris Motor Show. It produced a combined 197 horsepower by pairing a 2.0-liter inline-4 gas engine with twin 60-kilowatt electric motors drawing power from a 12 kilowatt-hour lithium-ion battery pack.

The new Outlander PHEV gets numerous powertrain upgrades, though the automaker isn’t releasing hard specs yet. In a statement announcing the new vehicle it said the plug-in gets “an increase of around 40% in the output of the front and rear motors and drive battery.” The lithium-ion pack, it did note, jumps to 20 kWh. The gas engine, added a spokesman, is a “slightly updated” version of the old PHEV’s 2.4-liter package.

Mitsubishi Outlander PHEV charging port 2022 — The new Outlander plug-in hybrid will arrive in the U.S. in the second half of 2022.

Mitsubishi also revealed, “The power drive unit for the front motor is newly equipped with a booster function which bolsters driving force by raising the supply of voltage to the front motor while simultaneously improving electricity consumption by raising the efficiency of the generator.”

Third row added

The automaker also took steps to downsize some of the hardware, notably the rear motor and control unit. As a result, the new plug-in will gain room for a third row yielding space for seven occupants.

The drive system now will allow One-Pedal Driving, as well, a feature that effectively allows motorists to minimize the need to jump from throttle to brake when driving in light to moderate traffic. That feature was found to be extremely popular with EV owners, according to the recent J.D. Power Technology Experience Index.

With only modest tweaks, the plug-in adopts the same exterior and interior design as the gas-powered Outlander. The overall strategy is based on a concept dubbed “I-Fu-Do-Do,” which means “authentic” and “majestic” in Japanese.

New design

Mitsubishi Outlander PHEV badge 2022 — The new Outlander PHEV is expected to travel more than 55 miles in electric-only mode.

The fourth-generation Mitsubishi Outlander adopted a new styling language called “Dynamic Shield.” Up front, it features a more upright nose with a pinched, dual-level grille and stacked headlamps. From the side, the SUV features a more deeply sculpted silhouette with a bit of a floating roof element.

The automaker clearly wanted to give the new Outlander a more solid and robust look, with such touches as 20-inch wheels and tires and what it calls the Hexagon Guard rear end.

The new SUV grew larger in virtually all dimensions, the width expanding by 2 inches. That means the cabin of the new Outlander is both wider and more spacious than the outgoing model, Mitsubishi adopting more upscale materials and features like tri-zone climate controls, real aluminum panels and a 12.3-inch touchscreen infotainment display.

The gas-powered Outlander is powered by a 2.5-liter inline-4 that bumped up power by 8.9 percent. At the same time, it reduced fuel consumption by 2.6 percent.

Pricing TBD

Many of the features from the current model are expected to carry over into the PHEV, though Mitsubishi hasn’t provided specific details. The gas model offers Hill Descent Control and Trailer Stability Assist. A Multiview camera system helps drivers see what’s around the vehicle, whether on-road or off. Other features for the new Mitsubishi Outlander include a power-operated panoramic roof and an electrically operated tailgate that can be opened with a kick of the foot under the rear bumper.

Pricing for the gas model starts at $25,795 — plus $1,195 in delivery fees. Pricing for the PHEV is expected to run higher, though the numbers won’t be released until closer to sales launch. That holds for a variety of other specs, including U.S. range, power and performance.

“Sales will commence in Japan on Dec. 16, followed by Australia and New Zealand in the first half of 2022 and North America in the second half of 2022,” Mitsubishi said in a statement. While it did not offer specifics, that would suggest that the Outlander PHEV will be marketed as a 2023 model in the U.S.

UK Fuel Shortage Sent Buyers Scurrying for EVs, Tesla Topping British Sales Charts

While most British service stations now have all the petrol — gasoline — they need again, the country’s fuel crisis could have long-term impacts, the scare convincing many UK motorists it is time to switch to battery-electric vehicles.

UK-fuel-pump-out-of-use — The petrol shortage in the UK last month drove the Tesla Model 3 to the top sales spot overall in the UK for September.

For the first time ever, a BEV was the best-selling vehicle in Britain last month, and motorists registered nearly as many all-electric vehicles in September as they did in all of 2019, according to industry data. The Tesla Model 3 was the big winner, but other BEVs also gained momentum.

“The petrol crisis was temporary but the impact on consumer attitudes is not,” said Ian Plummer, commercial director for the British arm of Auto Trader. “The idea that you’ll always be able to fill your tank has gone out the window.”

Pumps run dry

At one point, as many as 90% of the pumps serving petrol ran dry last month. Long lines of motorists waiting at stations across the country proved reminiscent of the twin oil shocks that struck the U.S. back in the 1970s.

But this crisis wasn’t due to shortages of petroleum, but rather the inability to get refined fuel to service stations, experts noted. That was due to an ongoing lack of carrier truck drivers that has grown worse since Britain exited the European Union and enacted new restrictions on workers from the continent. (The U.S. currently faces a similar shortage of drivers resulting in spot shortage of fuel this year.)

As pumps — and fuel tanks — ran dry, British motorists began looking for alternatives. At one point, Google recorded a 1,600% increase in online searches related to electric vehicles, and automotive shopping website Carwow saw its own traffic nearly double.

UK fuel shortage line — The inability to just run out and get petrol/gas anytime Britons desired impacted their buying habits.

Now, British auto industry data indicate this translated into actual sales.

UK’s EV sales explode

Demand for electrified vehicles was already rising before the fuel crisis. But sales of all plug-based models surged at a record pace in September. Pure battery-electric vehicles recorded the biggest gain, automakers reporting a 49.4% increase in BEV registrations for the month. That jump came despite the fact that overall passenger car sales in the UK actually dipped by 34.4% in September.

Of the 215,312 vehicles registered in Britain, BEVs totaled 32,721, or 15.2 percent. That was 5,000 short of the number of all-electric models sold in the UK during all of 2019.

Plug-in hybrids generated 13,884 sales, or 11.5%, and conventional hybrids accounted for 12% of September registrations, or 24,961. In other words, vehicles using some form of electric propulsion made up nearly four in 10 of the vehicles British drivers registered.

The Tesla Model 3 was the big winner, becoming the best-selling new vehicle in the country, British motorists purchasing 6,879.

Nissan Leaf in London — Electric vehicle sales are expected to continue to rise in the UK in the wake of the current shortage.

The all-electric sedan was the only exclusive BEV model among Britain’s top 10 in September, but five others on that list are available with various battery-based propulsion systems. The Vauxhall Corsa was second on the September list, the BMW 3 Series the third, Toyota Yaris came in fourth, while the Kia Niro was ninth. Rounding out the top 10 was the Volkswagen Golf.

Not an anomaly

While sales of electrified vehicles have surged, demand for diesels has plummeted in the UK, registrations falling 55% last year and continuing to spiral downward in 2021.

While some analysts have questioned whether last month’s sales numbers were an anomaly, Brent Gruber, senior director of Global Automotive at J.D. Power, told TheDetroitBureau.com the shift is only likely to continue, if not accelerate.

The fuel shortages proved part of a “microcosm of all the different factors that are aligning to help drive EV adoption,” according to Gruber.

British consumers, like those in the U.S. and other markets, Gruber added, are getting a steadily widening range of BEVs to choose from, vehicles targeting a broader array of price and product segments, while offering improved range and more appealing features.

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2022 Subaru WRX Gets New Look, More Power and Other Improvements

Even in today’s SUV-centric market, the Subaru WRX maintains a loyal following, and its about to get rewarded with an update offering upgrades virtually everywhere that matters.

2022 Subaru WRX side — The 2022 Subaru WRX gets a slew of updates designed to up the performance of the new model.

The fifth-generation rally car starts out with an entirely new design borrowing heavily from the Viziv Performance Concept first seen at the 2017 Tokyo Motor Show. It also gets a new and more powerful engine, along with suspension updates and lots more technology. Add a new trim package, the WRX GT, which gives the car adaptive damping for the first time, and fans should be pleased.

Set to land in U.S. showrooms during the first quarter of 2022, Subaru is betting the upgrades will excited the group of devoted fans for the coupe-like sedan.

Subaru is billing the 2022 WRX as a “ground-up” makeover. At first blush, however, it might seem more evolutionary than revolutionary. The new design is based off the Viziv concept but doesn’t stray far from fourth-generation car.

2022 Subaru WRX rear orange — The first-ever WRX GT sees engine, suspension and tech updates that make it handle better than its predecessor.

More aggressive and planted

The design does deliver more aggressive fenders and a wider, more planted appearance. The projector headlamps now have a more squint-eyed appearance and there are new — and functional vents — that help reduce air turbulence around the front wheel. Other changes — like the integrated rear spoiler — also appear aimed at improving the WRX’s overall aerodynamics, a double plus for fuel economy and performance.

Meanwhile, Subaru has expanded the use of lightweight materials. The switch to aluminum front fenders alone helped shave overall vehicle weight by 5 pounds.

It’s when you look below the skin that you discover the other significant changes, starting with the shift to the new Subaru Global Platform shared with everything from the little Impreza to the big Ascent SUV. It translates into a 28% increase in overall stiffness, among other things, while also helping lower the center of gravity, and improving noise, vibration and harshness, or NVH.

A declining market

2022 Subaru WRX engine orange — The 2022 WRX which now gets a new 2.4-liter turbocharged Boxer-4 pumping out 271 horsepower and 258 pound-feet of torque.

This sporty segment has been struggling through hard times, and both the Mitsubishi Evo and Ford Focus RS have gone away. There are still some key competitors, including the Honda Civic Si — which gets its own major update this coming year. Subaru wants to stay on top and performance will be critical.

So, look for a new engine from the 2022 WRX which now gets a new 2.4-liter turbocharged Boxer-4 pumping out 271 horsepower and 258 pound-feet of torque. The pony count is up three while torque remains flat, but Subaru claims it will come on quicker thanks to the added displacement and changes to the turbo.

Serious performance fans are likely going to continue steering towards the 6-speed manual Subaru continues to offer. But the alternative is the Subaru Performance Transmission, a fancy way of saying a sport-tuned CVT. The automaker claims it has made major changes for 2022 that eliminate some of the annoying behaviors normally associated with continuously variable transmissions. It is quicker to shift and, using the paddle shifters and manual mode, can emulate an 8-speed gearbox.

New GT trim

2022 Subaru WRX manual shifter — Subaru says the new CVT emulates an 8-speed gearbox and is a strong performer, but a 6-speed manual is still available for diehards.

The sedan also gets an upgrade to its suspension that helps minimize body roll. For those who want to take things a step further, there’s the new WRX GT. It adds adaptive damping and the ability to switch between Comfort, Normal and Sport settings. The Driver Mode Select also adjusts steering, and offer vehicle functions — a total of “430 different customization options,” the automaker claims.

Add to the GT package new Recaro sport seats, 18-inch aluminum alloy wheels shod in summer tires, and a more expanded line-up of advanced safety technologies, such as active cruise control and automatic emergency steering.

Upgraded technology

A basic version of Subaru’s EyeSight Driver Assist system is standard across the WRX line, featuring functions like forward collision warning and automatic emergency braking, as well as lane departure prevention.

The infotainment system has likewise been upgraded and adds, among other things, a split-screen mode. There’s also a new Harman Kardon audio option with 11 speaker delivering 576 watts of sound.

No pricing has yet been released for the 2022 model, but the current Subaru WRX starts at $28,420, including in delivery fees.

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Chip Shortage Issues May Roll into 2023 for Carmakers

The shortage of semiconductors is now expected to foil the auto industry’s efforts to rebuild inventories through 2022, according to reports from analysts and carmakers.

Volkswagen CEO Herbert Diess said the industry could be dealing with the chip shortage into 2023.

“Several chip suppliers have been referring to structural problems with demand,” Ola Källenius told reporters during a roundtable event for IAA 2021 auto show in Munich.

“This could influence 2022 and (the situation) may be more relaxed in 2023,” added Källenius, who said the shortages will be reflected in the reduced sales when it reports financial numbers for the third quarter next month.

The point was echoed by Volkswagen CEO Herbert Diess, who told Bloomberg TV, the shortages could persist for months or “even years.”

Suppliers struggling with order backlogs

Meanwhile, Rohm Co., one of the world’s largest suppliers of microchips to the automotive with clients such as Toyota, Ford and Honda, says it will take months to clear its backlog of orders, according to Kelley Blue Book.

“All of our production facilities have been running at their full capacity since September last year, but orders from customers are overwhelming,” Rohm CEO Isao Matsumoto told reporters in a recent interview. “I don’t think we can fulfill all the backlog of orders next year.”

Automakers forced to adjust

Ford dealer — This picture is becoming increasingly rare as dealer inventories continue to thin out.

Top executives from companies such as General Motors and Ford have said their companies and their dealers are learning to live with inventories well below the 70-day level, prevailing before the COVID-19 pandemic slashed production and by extension the industry’s supply of micro-chips.

GM CEO Mary Barra told analysts last month the company would welcome the opportunity to rebuild inventories.

A new report from the University of Michigan Research Seminar on Quantitative Economics noted, “The global silicon chip shortage continues to squeeze vehicle manufacturers. In February-July, the pace of domestic light vehicle assemblies averaged 8.9 million units, far below the 2020 (fourth quarter average) of 10.5 million.”

The U-M economists noted vehicle demand remained strong, as evidenced by a massive inventory drain and sharp price increases. By July, the days’ worth of dealer supply of new vehicles dipped to the low 20s both for cars as well as trucks versus a pre-pandemic normal in the 60- to 80-day range, they added.

“In the broader economy, many raw materials remain challenging to procure on time, partly because of transportation bottlenecks, exacerbated by a truck driver shortage,” the economists said, adding many manufacturing and service industries report labor shortages, rising wages, and rising prices.

Car shoppers on lot — A new survey shows nearly half of car shoppers are changing their timeframe for the purchase.

“Until supply chains stabilize, the pressure on producer and consumer prices is likely to continue,” they noted.

Consumers frustrated

Meanwhile, carmakers are continuing to curb production even as they announce the introduction of new models. Nissan, Toyota, General Motors, Stellantis and Ford have indicated they will continue to cut production well into September.

Consumers also are beginning to feel the pressure. The website Autolist.com notes its surveys indicate 73% of respondents who were shopping for a used vehicle were looking to spend less than $20,000; yet this is the price range that has been hit the hardest by inventory shortages across the used car market.

In addition, 44% of shoppers are changing the timing of their next vehicle purchase due to inventory issues and 40% of respondents said inventory woes are making this car-shopping experience more frustrating than it has been in the past.

Noted Stephanie Brinley, principal analysts with IHS Markit, noted, “The scenario today of low inventory and high demand sees consumers facing higher prices and reduced choice, while automakers see volume decline. There is some automaker benefit in the higher pricing, but as the situation drags on, this may not be enough to truly offset the opportunity lost from reduced inventory. In short, the current situation benefits no one.”

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Mercedes Pushes the All-Electric Performance Envelope with AMG EQS

Even as the first new Mercedes EQS begins rolling into showrooms, the German automaker is rolling out two more variants of the flagship sedan at the first-ever Munich Motor Show. And the new AMG EQS highlights the sort of performance Mercedes’ muscle car brand plans to deliver as it shifts to all-electric propulsion.

2023 Mercedes-AMG EQS — The new EQS is, like so many other Mercedes models, getting the AMG treatment.

The initial version of the EQS certainly isn’t a slouch, delivering anywhere from 329 to 526 horsepower. But the AMG edition takes that to a new level, the big sedan punching out as much as 751 hp when its boost function is triggered. That’s nearly 25% more than the gas-powered AMG S 63.

“The AMG EQS is the first all-electric ambassador in the performance segment (and) will undoubtedly appeal to and win over a new clientele for Mercedes-AMG,” Philipp Schiemer, chairman of the performance brand’s board. “It is tailor-made for car enthusiasts who are looking for a combination of innovative electric mobility in a luxurious ambience, coupled with sportiness and agile driving dynamics.”

Taking on Tesla

The decision to deliver an electrified version of the EQS should come as no surprise. The rival Tesla Model S has been stealing buyers from not only the mainstream Mercedes S-Class, but also AMG models like the S 63 with the addition of its Model S Performance and Plaid editions.

2023 Mercedes-AMG EQS - rear 3-4 — The Mercedes-AMG EQS is expected to race from 0-62 mph in 3.4 seconds.

AMG aims to tap into the performance benefits offered by electric motors — which deliver maximum, off-the-line torque the moment they start spinning. That will permit the AMG EQS to launch from 0 to 100 kmh, or 0 to 62 mph, in an estimated 3.4 seconds on models equipped with the optional AMG Dynamic Plus package. Top speed is electronically limited to 155 mph.

Like the initial version of the EQS, the AMG edition will be powered by a 107.8 kilowatt-hour lithium-ion battery pack, though it will use modified wiring to increase the amount of power that can be sent to the big sedan’s wheels. That will allow a normal output of up to 649 hp, briefly jumping to 751 hp when in boost mode. That also will bump up torque from 700 to 752 pound-feet.

The system uses twin motors, with the primary one mounted on the rear axle. Along with the increase in wiring capacity, the AMG EQS takes several steps to keep the motors cool under aggressive driving. That includes a “water lance” in the rotor shafts, as well as a transmission oil cooler.

2023 Mercedes-AMG EQS - interior — The new AMG EQS features Mercedes’ new Hyperscreen technology.

Range and charging

The automaker isn’t yet quoting range but the AMG model is expected to deliver less than the more mainstream EQS which is rated at 770 kilometers, or nearly 480 miles, per charge using the European WLTP test cycle.

The 400-volt drive system can be charged at up to 200 kW at quick-charging stations, yielding an additional 300 km, or 186 miles, in just 19 minutes.

The AMG EQS rides on a modified version of Mercedes’ new EVA2 architecture, a skateboard-like platform that mounts most of its powertrain components below the load floor. That eliminates the driveshaft tunnel normally required on vehicles with AMG 4Matic all-wheel drive, and allows for more interior space than the conventional S-Class.

The new EQS adopts what might be thought of as a “one-box” or, as Gorden Wagener, Mercedes’ global design director prefers, a “one-bow” design. With only subtle deviation, a single, curved line flows over the top of the vehicle from bumper to bumper.

2023 Mercedes-AMG EQS - front 3-4 turning — The AMG EQS rides on a modified version of Mercedes’ new EVA2 architecture, a skateboard-like platform that mounts most of its powertrain components below the load floor.

“It’s all about proportion,” said Wagener, during the launch of the initial EQS last April. “We managed to keep the balance, go to the edge in design and tech, but … not leave anyone behind.”

Unique features

As with other AMG models, the performance version of the EQS features a number of design tweaks. These include:

Front splitter in high-gloss black with chrome trim and also flics and fins on the air intakes, with air curtains on the left and right in high-gloss black with chrome trim
AMG side sill panels in high-gloss black
Rear bumper in the color of the car with aerodynamically optimized diffuser with six longitudinal fins
Larger rear spoiler (compared to AMG Line), to improve driving dynamics: rear lift is reduced without increasing drag
21- or 22-inch AMG aerodynamically optimized alloy wheels

Inside, the EQS gets a modified version of the new Mercedes Hyperscreen which stretches virtually pillar to pillar across the instrument panel. The Hyperscreen is optional on the standard EQS but standard here.

2023 Mercedes-AMG EQS - rear — The AMG model is expected to deliver less than the more mainstream EQS which is rated at 770 kilometers, or nearly 480 miles, per charge using the European WLTP test cycle.

Enhancing performance and handling

Other standard features include the AMG Dynamic Plus system which not only improves performance and handling but also adds unique “Soundscapes.” These are, essentially, sound tracks specifically designed to enhance the perception of performance driving, replacing the traditional sound of a gasoline engine.

AMG’s Ride Control+ suspension with adjustable damping also comes standard. So does rear-wheel steering which is optional on the “base” EQS.

At speeds below 37 mph, the rear wheels steer in the opposite direction to the front wheels. This makes the AMG EQS highly maneuverable, light-footed and nimble” in urban driving, Mercedes explains. While at speeds above 37 mph, “the rear wheels steer in the same direction as the front wheels. As a result, the virtually extended wheelbase offers increased handling stability and driving safety at high speeds, and during fast lane changes or sudden evasive maneuvers.”

High-performance compound brakes capable of regenerating energy while slowing or coasting come standard. Among the options offered on the AMG model, buyers can opt for carbon-ceramic compound brakes.

Pricing will be revealed closer to launch. The base Mercedes EQS will reach U.S. showrooms later this year, the EQS AMG set to follow in early 2022.

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GM Mexico’s Chevrolet Tornado Van Means Business: Could it Work in U.S.?

General Motors Mexico just launched the Chevrolet Tornado Van, an affordable delivery vehicle that might prove really enticing to the businesses of the PYMES category.

Chevrolet Tornado van in warehouse — For sale in Mexico, the Chevrolet Tornado van offers small business an inexpensive option for a delivery vehicle.

The acronym stands for “Pequeñas y Medianas Empresas,” which translates to Small and Midsize Enterprises, or in the U.S.: small businesses, for which affordability is key when it comes to their fleet vehicles.

GM’s been focused — as many automakers have — on producing electric vehicles, specifically delivery vans, that could help them meet the needs of freight and delivery services, especially in urban areas.

For now, the Detroit-based auto company’s big investment is in its BrightDrop subsidiary. It already has some deals signed, including one with FedEx. However, with the company’s self-imposed goal of being completely emissions free in a little more than a decade, an inexpensive, reliable extremely fuel-efficient model could be helpful in the transition.

Checking the boxes

The new Chevrolet Tornado Van fits the bill when it comes to price, coming in at 276,900 pesos, which taking in consideration an exchange rate of 19.88 pesos per U.S. dollar, equates to about $13,928 dollars — very affordable by U.S. standards.

This small delivery van is product of the SGMW joint venture between SAIC and GM in China. It is a Wuling Hongguang V van that has been rebadged as a Chevrolet for sale in Mexico.

Chevrolet Tornado van cargo area — The Tornado offers plenty of cargo room behind the driver. It also features doors on both side.

It is a small van: 174.2 inches long, 65.7 inches wide and 73.2 inches high, making it shorter than a Buick Envision, which is 182.5 inches long.

The Tornado is powered by a 1.5-liter 4-cylinder engine putting out 103 horsepower and 108 pound-feet of torque. It really shines when it comes to fuel economy getting 33.8 mpg in the city, and 45.1 mpg highway, according to GM Mexico.

The engine is mated to a manual 5-speed transmission and is rear-wheel drive. Its rear suspension uses leaf springs while brakes are discs up front and drums in the back.

Good for business

The mighty mite boasts a cargo payload rating of 1,431 pounds, while cargo space is 116 cubic feet. It is worth mentioning that it has a sliding door on each side, making for easy access no matter where it’s parked, a bonus for curbside deliveries.

The sides are windowless which is good for business owners who put their logo on their fleet vehicles for free advertising. The rear hatch does have a glass window and the divider between the cabin and the cargo area is tubular, so the inside rearview mirror is actually usable.

The Chevrolet Tornado Van is clearly a no-frills vehicle for work — just look at the manual front windows and sideview mirrors.

Chevrolet Tornado van interior — The Tornado interior is a nice place to be for the driver without being over done.

But for a work vehicle it is surprisingly well-equipped, coming with an AM/FM radio and air conditioning, which means that its driver will not have to sweat in silence while working. It has cloth upholstery, two cupholders, a USB charge port and its analog gauges include a tachometer.

What’s old is new again

The exterior design is somewhat reminiscent of the Chevrolet Uplander minivan, sold in the U.S. during the 2005-2008 model years, due to the elongated front end.

And even though the Chevrolet Tornado sells at a rock bottom price, it has niceties such as color-keyed bumpers and 14-inch aluminum wheels.

Safety equipment on the subcompact minivan is basic and complies with Mexican laws with two front airbags and ABS brakes.

The Chevrolet line-up in Mexico is very interesting, because besides vehicles manufactured in the U.S., Mexico and Canada, it also includes models made in India and China.

And it looks like the Chinese manufacturers eventually intend to use Mexico as a launching pad to start manufacturing and selling cars and trucks in the U.S. in the future. Could the Tornado be the next offering, after the aforementioned Buick Envision? Possibly.

Honda Makes it Official, Lifts Cover on the 11th-Generation Civic Sedan

The 2022 Honda Civic sedan is the 11th generation of the company’s compact sedan in the U.S.

In typical fashion, Honda spent the past several months teasing the arrival of an all-new Civic sedan. Now, we’re getting the first close-up look at the 11th-generation model, albeit virtually, thanks to the COVID pandemic.

The 2022 Honda Civic adopts a new design that the automaker describes as more “simple,” “clean” and “modern.” It also adopts plenty of new technologies, both for infotainment and safety. Traditionally, this would have been the sort of formula that kept Civic high up on the sales charts. The question is whether the 2022 model can maintain momentum in a market where SUVs and CUVs, such as the Honda CR-V, have largely displaced conventional sedans and coupes.

“Civic has been the go-to choice for compact car buyers for almost 50 years and the all-new 11th-generation Honda Civic builds on that leadership with simple and sporty styling inside and out, best-in-class features and class-leading performance,” said Dave Gardner, executive vice president of National Operations for American Honda Motor Co.

Jumping in the wayback machine

Designers adhered to the mandate to pick up on the brand’s original “Man-Maximum, Machine-Minimum” design philosophy with the 2022 sedan.

The goal for designers was to reach back into the history of the Civic, which made its American debut in 1973. They were given a mandate to pick up on the brand’s original “Man-Maximum, Machine-Minimum” design philosophy. That said, no one will call this a retro-mobile.

A “thin and light” body design adopts a low hood and front fenders, with a small grille above the front bumper, a larger one below giving the new Civic a more planted feel. The new Civic migrates to LED lighting, both front and back.

Subtle flaring around the wheels yield a more aggressive and premium feel, or so Honda designers contend. The windshield pillars, meanwhile, have been moved rearward two inches, the glass flowing into a coupe-like roofline that tapers into a short rear deck.

Even with the windshield pushed back, the new cabin offers reasonable space for both front and back passengers, especially considering competitors in the compact segment. The sedan’s low beltline and ample glass provide for good visibility and enhance the sense of spaciousness.

Changes to the interior

The low instrument panel is accented by a honeycomb mesh, Honda claims, “serves both form and function, creating a dramatic visual dividing line between the audio, information displays and the climate controls.” The approach also helps keep things feeling less cluttered by largely concealing the sedan’s air vents.

The Civic’s interior features new premium materials for the next-generation sedan.

Honda says it adopted more premium materials for the 2022 model’s cabin. And it also upgraded the front seats on all trims, using a “body stabilizing” design that keeps driver and passengers firmly in place, whether on long trips or during aggressive maneuvering.

From a technology standpoint, base trims now get a 7-inch color touchscreen for an infotainment system that comes with both Apple CarPlay and Android Auto. There’s an upgrade to a high-definition, 9-inch touchscreen that is paired with wireless versions of Apple CarPlay and Android Auto.

The 2022 Civic becomes the first to offer a 12-speaker Bose premium sound system, and Touring models come with Qi wireless smartphone charging.

The push for more technology can be seen with the latest version of the Honda Sensing suite of advanced driver assistance systems. Along with existing features, such as forward collision warning with automatic emergency braking, the 2022 Civic adds a new front wide-view camera, new Traffic Jam Assist and, on the Civic Touring, Low-Speed Braking Control.

The new model also adds what Honda describes as “groundbreaking” new front airbags designed to reduce traumatic brain and neck injuries. The 2022 model also becomes the first Civic equipped with side airbags for rear seat passengers.

The 2022 Civic becomes the first to offer a 12-speaker Bose premium sound system, and Touring models come with Qi wireless smartphone charging.

Options under the hood

The 2022 Civic will offer two 4-cylinder options, like the outgoing sedan. That includes a naturally aspirated 2.0-liter package making 158 horsepower and 138 pound-feet of torque.

The powertrain now comes standard with stop/start capability, as well as a new catalytic converter. Paired with an updated CVT, it gets a bump up in fuel economy, according to the EPA. The LX trim is rated at 31 mpg city, 40 highway and 35 combined, as much as 2 mpg better the outgoing 2021 model.

The Civic EX and Touring get an updated 1.5-liter turbo-4 now making 180 hp and 177 lb-ft, up 6 and 15, respectively. The package is paired with a CVT offering Step-Shift programming. The Touring package yields 31 mpg city, 38 highway and 34 combined.

As is the norm for Honda, we can expect to see more Civic variants roll out in the next year or two, including the sportier Si and Type-R models. Whether the automaker will offer all the packages of the past, considering the decline of the passenger car market, does remain to be seen.

Look for the 2022 Honda Civic sedan to roll into U.S. showrooms later this spring.

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Tesla Sets New Records with Q1 Results

Tesla set another quarterly record for deliveries during the first quarter of 2021.

As predicted by many, Tesla Inc. set another quarterly record for production and deliveries during the first quarter of 2021 while rolling out another profitable quarter.

The delivery numbers eclipsed the previous record by more than 4,000 units, coming in at 184,877 vehicles during the quarter. The overwhelming majority of the deliveries were Model 3 and Model Y at 182,847 vehicles – at 140% increase compared to the year-ago number. It’s also a 21,000-plus unit jump compared with the previous quarter.

The company’s automotive revenue came in at $9 billion, an increase of 75% compared with Q1 2020. Overall, the company’s total revenue came in at $10.4 billion with a net income of $438 million or 39 cents per share. It also reported an adjusted EBITDA of $1.8 billion for the quarter with operating income reported at $594 million with a 5.7% operating margin.

Big results — again

Tesla’s Elon Musk is taking on a new role: host of Saturday Night Live.

Quarter-end and cash equivalents to $17.1 billion in Q1, driven mainly by a net cash outflow of $1.2 billion in cryptocurrency (Bitcoin) purchases, net debt and finance lease repaymenbts of $1.2 billion, partially offset by free cash flow of $293 million.

“There’s no guarantee that Elon Musk’s appearance on SNL will garner big laughs, but it’s certain that he’s laughing all the way to the bank,” said Jessic Caldwell, Edmunds’ executive director of insights.

“Tesla had a record-breaking first quarter, and seems to be doing particularly well compared to its more traditional OEM competitors who are starting to flounder in light of the unique market conditions squeezing the industry right now. It’s pretty ironic that as an automaker known for producing computers on wheels, Tesla’s deliveries in a quarter marred by a global chip shortage have proven to be so strong.

The big numbers came despite the fact the average selling price for one of its vehicles fell during the quarter. However, officials seem almost pleased by that, noting that lowering “the average cost of the vehicles we produce is essential to our mission.”

The exterior of the new Model S is a little more angular than its predecessor.

Big sales — again

The company was quick to note that with production of its Model 3 basically coming from one plant (Shanghai), it is the best-selling premium sedan “in the world.” It outsold its top competitors, the BMW 3 Series and Mercedes E-Class.

“This demonstrates that an electric vehicle can be a category leader and outsell its gas-powered counterparts. We believe Model Y can become not just a category leader, but also the best-selling vehicle of any kind globally,” the company told investors.

With the strong performance of those two, production of the 2021 Model S — the vehicle that really started it all — “should start very shortly.” Officials noted that production of the Model Y production rate in Shanghai continues to improve and “two new factories — Berlin and Texas — are making progress. There is a lot to be excited about in 2021.”

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