DAILY DRIVE PODCAST: June 15, 2022

A look at the first U.S. report on crashes involving driver assist and automated driving systems. Toyota pushes back against criticism that it’s going too slow on EVs. The latest Ford recall involves almost three million vehicles. And Automotive News used car reporter C.J. Moore talks about the forces shaping the present and future of the wholesale used car market.

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NAF Association elects new board members

TALLAHASSEE, FLORIDA, JUNE 6, 2023 - The National Automotive Finance (NAF) Association, which exclusively serves the non-prime auto financing industry, held its 26th Annual Non-Prime Auto Financing Conference in Plano, TX, last week. “We are pleased with the strong attendee turnout and appreciate the support of our business partners, sponsors, and vendors. Over 300 industry professionals attended this premier annual event. We couldn’t be happier with the thoughtfully curated agenda and strong speaker lineup”, said Jennifer Martin, Executive Director of the NAF Association. The NAF Association Board of Directors met in conjunction with the conference and announced that Paul Gillespie with GM Financial will serve another one-year term as President. Jim Bass of Agora Data will assume the role of Chairman. Two new board members were voted in during the annual membership meeting held on June 3rd. David Elmore, Experian, and Suzi Straffon, Allied Solutions, will joi…

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NHTSA releases first report on crashes involving driver-assist, automated-driving systems

WASHINGTON — For the first time, the nation's top highway safety agency released data on crashes involving vehicles with advanced driver-assist systems or automated-driving systems activated.

NHTSA, cautioning that the data is preliminary and lacks proper context, said the vast majority of crashes of vehicles equipped with Level 2 ADAS were reported by Tesla Inc. and Honda Motor Co.

As automakers add more ADAS features to vehicles, NHTSA wants to better understand their role in crashes, whether they are caused by flaws in the technology or misuse by drivers. The report is an early step in that process.

"This is an unprecedented effort to gather nearly real-time safety data involving these advanced technologies," Steven Cliff, NHTSA's administrator, told reporters during a press call Tuesday. "Understanding the story that the data tell will take time, as most of NHTSA's work does, but it's a story we need to hear."

The report comes after NHTSA in …

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Ford recalls 2.9M vehicles over gear-shifting defect linked to 4 alleged injuries

WASHINGTON — Ford Motor Co. is recalling more than 2.9 million U.S. vehicles for a gear-shifting defect that has been linked to four reports alleging an injury.

The recall covers certain 2013-19 Escape, 2013-18 C-Max, 2013-16 Fusion, 2013-21 Transit Connect and 2015-18 Edge vehicles.

Those vehicles could have a damaged or missing bushing that prevents them from shifting into the intended gear and might cause the vehicle to move in an unexpected direction, according to a recall report submitted to NHTSA last week.

The affected vehicles could roll away even after the driver puts the vehicle in "park," increasing the risk of a crash or injury, the report states.

"Additionally, if a vehicle is turned off in a transmission gear state other than 'park,' regardless of the gear shift lever position, the engine will not restart," Ford said in the report.

Ford told NHTSA that it is also aware of six reports alleging property damage and 1,630 wa…

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Ally All Ears Podcast 1 | used car bubble

Today, we catch up with Todd Sanders, Executive Director of Remarketing Services, at Ally Financial, to discuss how dealers can successfully navigate the used-car bubble amid ongoing pandemic conditions and continued supply chain and microchip shortages.

Though the inventory crunch seems to be lessening, dealerships are still working to cope with lower-than-typical sales figures and scarce inventory.

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Transcript:

Advertisement: It is time to take your dealership from 0 to 100 from dedicated underwriter and account executive teams to comprehensive training courses, Ally has the resources needed to help take your business to the next level. Contact your local account executive today.

Jackie Charniga, Automotive News: Hi, everyone. This is Jackie Charniga with Automotive News and welcome to the All Ears podcast. This podcast is sponsored by Ally Financi…

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Polestar envisions producing 160,000 units a year for Polestar 3, Polestar 4

Swedish electric vehicle maker Polestar is betting boldly on its first pair of crossovers.

The Volvo affiliate said Tuesday that it expects to receive enough production capacity to produce more than 160,000 of its upcoming Polestar 3 and Polestar 4 vehicles by 2025.

Much of that output will go to the U.S. market, where crossovers and SUVs accounted for more than half of new-vehicle sales last year.

The Polestar 3, a Porsche Cayenne-sized crossover, will go on sale in the U.S. in the first quarter of 2023.

Polestar expects to sell 24,000 of the midsize crossover globally next year, increasing that to 67,000 in 2024 and 77,000 in 2025, according to company figures.

The midsize vehicle features design elements that include a sloping silhouette and headlight and rear light styling that are distinct from other Polestar models.

"With this car, we bring the 'sport' back to the SUV, staying true to our performance roots," Polestar CEO Thoma…

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Mercedes to replace C-Class, E-Class coupes with new 2-door CLE nameplate

Mercedes-Benz is taking a scalpel to its U.S. car lineup as more Americans embrace SUVs and crossovers over sedans and coupes.

The luxury brand this year confirmed it will stop selling the entry-level A-Class sedan in the U.S after 2022. It is also dropping the S-Class coupe.

At its national dealer meeting late last month, Mercedes said it will replace the C-Class and E-Class coupes with a new two-door CLE nameplate.

"There's just not enough demand for three coupe models," said a dealer at the meeting. "So, it didn't make sense to reinvest the billions of dollars it would take to do a refreshed version of any of those."

A Mercedes spokesman declined to comment on future product.

Cars represented 26 percent of Mercedes-Benz's total U.S. light-vehicle sales (329,574) in 2021, down from 29 percent in 2020. In the first quarter, Mercedes-Benz's U.S. car sales skidded 37 percent to 15,267, or just 20 percent of the brand's light-vehicle volume…

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EV pickup visionary Tesla now trails the pack

Tesla Cybertruck reservation holders are watching from the sidelines as shiny new Rivian R1T, Ford F-150 Lightning and GMC Hummer pickups are delivered to early adopters in the new and potentially lucrative EV truck segment.

Social media is full of early Lightning buyers towing boats, testing the charging rate and cautiously setting out on longer journeys during summer driving season. Rivian has been ramping pickup output since last year, and GMC is trickling out six-figure versions of the Hummer pickup.

Meanwhile, a new forecast suggests that the wildly styled Cybertruck may not make it into the hands of reservation holders until late 2023 at the earliest, behind the Chevrolet Silverado EV.

AutoForecast Solutions puts the start of Cybertruck production in the fourth quarter of next year — after the Silverado in spring 2023 and the GMC Sierra EV in the fall. Tesla's full-size, stainless-steel-body pickup is, however, still expected to beat Stellantis in…

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Toyoda says his successor must have ‘unshakable conviction’

Toyota Motor Corp. is working to foster candidates capable of eventually taking the top job, President Akio Toyoda told shareholders at an annual meeting.

The world’s No. 1 automaker is taking steps to find and develop potential successors, Toyoda, 66, said in response to a shareholder’s question at corporate headquarters Wednesday.

Anyone following in his footsteps must have “unshakable conviction on why Toyota exists” and a firm understanding of the company’s philosophy, Toyoda said, adding that his goal will be to “rejuvenate” management with the move.

Toyoda has sought to reform Toyota's corporate culture, spending more time with younger executives, and cutting back some senior positions.

The brief question-and-answer moment shines light on a topic that’s been top of mind for some Toyota investors and analysts over the past few years: Who is in line to replace the automaker’s current president who, over the past 13 years, has captained its ri…

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Toyota pushes back against criticism about pace of electric vehicle transition

TOYOTA, Japan -- Toyota Motor Corp. pushed back against critics who say it has been slow to embrace electric vehicles, arguing it needed to offer a variety of powertrains to suit different markets and customers.

At its annual general meeting on Wednesday, the world's largest automaker by sales doubled down on its position that it would stick with technologies including fuel cells and full-hybrid vehicles that have for the past two decades made it a leader in cleaner cars.

Once a favorite with environmentalists for the Prius full-hybrid it popularized more than two decades ago, Toyota has come under fire from some investors for not phasing out gasoline-powered cars and its lobbying on climate policy.

"The goal is carbon neutrality," Toyota Chief Technology Officer Masahiko Maeda told the meeting, responding to questions submitted by Danish pension fund AkademikerPension, which also asked Toyota to refrain from lobbying to undermine the transition to fu…

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Musk warns of ‘very tough quarter’ for Tesla

Tesla Inc. has had a “very tough quarter” as it struggles with supply-chain snags, CEO Elon Musk warned in an internal memo, imploring workers to help get the EV maker back on track.

“This has been a very tough quarter, primarily due to supply chain and production challenges in China,” Musk said in an email to employees over the weekend that was seen by Bloomberg. “So we need to rally hard to recover!”

The company’s Shanghai plant, which had slowed production in recent weeks amid severe Covid-19 restrictions, is returning to full strength and its Austin, Texas, facility is ramping up production as well, Musk said. Last week, he noted, Tesla’s Berlin factory built almost 1,000 cars, while its Fremont, Calif., plant notched a record day of production.

Musk often sends companywide emails near a quarter’s end to push staff to sprint to the finish, and Tesla is known to deliver many units in the the final weeks. In a subsequent memo, he told workers to be pr…

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