AUTO CENTRAL CHICAGO – Aug 22, 2021: Every Sunday, Larry Nutson, The Chicago Car Guy and Executive Producer, with the expert assistance of Senior Editor Thom Cannell of The Auto Channel Michigan Bureau, add The Auto Channel’s “recording” to automotive news last week, condensed into easily digestible news nuggets.
LEARN MORE: Links to full versions of today’s news nuggets, plus a million pages of automotive news, articles, reviews, and archived stories from the past 25 years held in the Auto Channel Automotive News Library, can be found by simply copying and pasting the main heading are in the search box of the news library.
Nutson’s Automotive News Wrap-up – Week Ending August 21, 2021; Below are the all-important, relevant, semi-secret, or snappy automotive news, opinions, and insider backstories from the past week, presented as expertly crafted, easily digestible news nuggets.
* Under the currently negotiated budget of $ 3.5 trillion, the Senate has decided to set price and household income caps on federal electric vehicle tax credits. The non-binding change proposed by Senator Deb Fischer (R-Neb.) Does not provide tax credits for vehicles priced above $ 40,000 or households with declared incomes above $ 100,000. These and other budgetary measures have yet to be agreed with the House of Representatives. But if this is a serious cap for many lawmakers, a price cap of $ 40,000 could severely limit the number of households that can draw on the loan. However, a price cap also addresses one of the main complaints about the electric vehicle tax credit – that it is a credit mainly claimed by the wealthy due to the lack of affordable options outside of one or two vehicle types. The current federal electric vehicle tax credit is a maximum of $ 7,500.
Editor’s Note: We believe that without misdirected EV tax subsidies, the affluent suburbs will quickly stop making noise about EV buying in the rigged sales that politicians have been led to believe. The Auto Channel guarantees boutique EV sales will plummet like a blown fuse … It happened in China and it will happen everywhere … You can wave the US government the VOTE for the mobility of your future. See also The injustice of electric vehicles and electric vehicles solution or diversion?
* The scandal, in which millions of dollars in banned payments and lavish goodies flowed from former Fiat Chrysler Automobiles executives to UAW officials, had a $ 30 million fine and an obligation to stand up for its role for three years Subject to compliance observer ended – a long scandal that prosecutors said was an attempt to distort the relationship between workers and executives.
* The average transaction price (ATP) for a new car hit a new record high of $ 42,736 in the US in July 2021, according to analysts at Kelley Blue Book. Transaction prices were up $ 3,223 (8.2%) from July 2020 and $ 402 (0.9%) from June 2021. The transaction prices for new vehicles have risen for four months in a row – and are setting new records. A shortage of new vehicles and a market shift towards more expensive SUVs and pickups are among the main drivers for higher ATPs. However, increased prices can dampen consumer demand; after robust sales in March, April and May, new vehicle sales began to slow in June and July. The seasonally adjusted sales rate for new vehicles was the slowest in a year in July.
* In October 1969, the first Nissan (then Datsun) Z was presented in New York City. And this week, Nissan returned to the city that never sleeps and unveiled the long-awaited all-new 2023 Z. It’s very similar to the Z Proto we saw. The power comes from a 3.0-liter twin-turbo V-6 with 400 hp in conjunction with a standard 6-speed manual transmission or an available 9-speed automatic with shift paddles. So yes, no electrification. Nissan says prices will start around $ 40,000.
* Lincoln showed us the 2022 Navigator with a new grille and front-end styling, adaptive pixel projector headlights as standard, new 3D taillights and the new Lincoln ActiveGlide, the new hands-free driver assistance technology.
* Hyundai has virtually unveiled its brand new 2022 Elantra N for the North American market. With the introduction of the Elantra N, Hyundai has rounded off its N-brand range of “sports cars for everyday use”. The Elantra N is available with an eight-speed dual clutch transmission that delivers a maximum output of 276 horsepower from 5,500 to 6,000 rpm and torque of 289 lb.-ft. from 2,100 to 4,700 rpm. It is also available with a standard, close-ratio six-speed manual transmission.
* The all-new 2023 Chevrolet Corvette Z06 will be unveiled on October 26th. The Corvette Z06 was developed to increase the thrill of driving and is a super sports car that delivers – whether on back roads, the autobahn or the most famous tracks in the world like the Circuit de la Sarthe.
* General Motors is recalling all of its current electric vehicles worldwide because of a potential battery fire risk. GM expanded a previously announced recall of Chevrolet Bolt EVs and Bolt EUVs, adding 73,018 newer vehicles from the 2019-2022 model years because of “rarer” battery defects that could cause the fires. The recall now includes 141,685 vehicles and is expected to cost $ 1.8 billion. The automaker has confirmed a total of 10 fires. No deaths have been reported, but there have been some smoke inhalation injuries. Certainly not a good image to convince people to buy BEVs.
* The NHTSA has initiated a formal investigation into Tesla’s automated driving system following a series of collisions with parked ambulances. The research covers 765,000 vehicles, almost everything Tesla has sold in the United States since 2014. The investigation is yet another sign that the NHTSA, under President Joe Biden, is taking a tougher stance on automated vehicle safety. The study covers the entire Tesla model range, the Model S, 3, X and Y from 2014 to 2021.
* The CES Tech and Cars Conference requires anyone attending the Las Vegas show to provide proof of a COVID-19 vaccine. CES aims to come back to life in January with a mix of in-person and virtual events.
* As reported by Autoweek, after an unprecedented hiatus in 2020, the Pebble Beach Concours d’Elegance was back in full swing this year, with heavy attendance and an impressive show field full of worthy competitors. When the jury’s votes were counted, the award for Best in Show went to the 1938 Mercedes-Benz 540K Autobahn courier from the Keller Collection in Petaluma, California.
* The first Woodward Dream Show is scheduled for this weekend at the M1 Concourse in Pontiac, Michigan in conjunction with the Woodward Dream Cruise, which takes place on Saturday, August 21st. The Dream Show begins on August 20th with more than 200 hot rods and muscle cars to be seen as well as movie cars and award-winning show cars.
* Subaru Motorsports USA driver Travis Pastrana set a new record of 5 minutes and 28.67 last Sunday at the Mt.Washington Hillclimb 2021 on his way to overall victory at the wheel of the Airslayer STI, his 862-hp gymkhana 2020 Subaru WRX STI Seconds on. The new marque cut back more than sixteen seconds from its 2017 race winning time on the narrow, steep, and treacherous 7.6-mile Mt.Washington Auto Road. Pastrana flashed the mountain to set a time that was over 45 seconds ahead of the closest competitor.
* Mercedes will leave the Formula E electric racing series and, together with German rivals Audi and BMW, will decide not to develop a new generation car for the series. The automakers said they are diverting money and talent into Formula 1 and commercial EV efforts – which are expensive enough.
* The 89th edition of the famous Le Mans 24-hour long-distance race will take place this weekend. The Automobile Club de l’Ouest has been running this race since 1923, apart from the years of World War II. Closed public roads encompass much of the 8.46-mile stretch known as the Circuit de la Sarthe.
* Four-time Indy 500 winner Hello Castroneves has been announced as the 2022 Motorsports Hall of Fame of America headliner in the 2022 nine-person class. The remainder of this year’s class includes sports car racer Pete Brock, drag racer Dick LaHaie, NASCAR builder Banjo Matthews, auto journalist Denise McCluggage, NASCAR co-founder Raymond Parks, NASCAR owner Jack Roush, and motorcycle innovators Terry Vance and Byron Hines.
Stay safe. Be good.