Every week TheDetroitBureau.com reports on top news and events related to new vehicles, mobility, technology and trends as well as providing our years of experience and insights into our car ratings. Then we put it all into our week Lamp News Podcast.
Automakers have struggled to keep production stable due to an ongoing shortage of semiconductors, and now the resurgence of COVID is putting the brakes on more assembly lines, as Toyota begins to struggle with the newest automaker. The Japanese automaker said it’s closing two lines, which could make it more difficult to get hold of new Corollas and RAV4s, editor-in-chief Paul A. Eisenstein reports.
Some other stories you need to know include:
- While automakers and buyers have struggled for the past 18 months or so with lower profits or a disappointed outlook, auto dealers have enjoyed record profits due to higher prices and, in some cases, additional profit margins;
- A new study finds that new electric cars coming to the market should find plenty of willing buyers with 1 in 4 saying they plan to buy an electric car at their next purchase. Yet, despite this, the vast majority of Americans are still shaking their heads no.
- As more and more Americans continue to buy crossovers, SUVs and pickup trucks, many automakers have decided to exit the midsize passenger car segment, and some reports suggest Hyundai and Kia are next, with Hyundai Sonata and Kia K5 allegedly in a cut ; And the,
- Volkswagen is the latest automaker to “feel strong” and is introducing two special versions of its ID. The Buzz Electric Mini Truck is designed to represent the light and dark sides of the Force. The moves come with the advent of the latest Star Wars series, this series focuses on the Jedi Knight Obi-Wan Kenobi.
Automakers have struggled this year, watching sales and profits plummet in the first quarter. Heading into the end of May, auto analysts’ predictions are more than the same, Executive Editor Joseph Chesney notes. Double-digit monthly sales losses are expected in May compared to last year – just like in April and March before that. However, there are signs that some change is coming that will at least stop steady price increases: increased production.
Executive Editor Larry Prentz asks if the party’s over? With fuel prices at all-time highs, is it time to switch to the auto industry’s version of sensible shoes? If so, the 2022 Toyota Corolla hybrid might be the best pair you can find. Perhaps the most overlooked member of the Corolla family is powered by a 1.8-liter four-cylinder engine paired with a 53-kilowatt electric motor that makes 121 horsepower and returns 52 mpg in combined driving — the best of any Corolla and on par with the Toyota Prius. All this in a package unlike any alien lifeform. Find out more about the hybrid at TheDetroitBureau.com.
Looking at this week, managing editor Michael Strong says that while long weekends are usually peak car sales, it’s unlikely that much will change. However, that will become apparent in the middle of the week when automakers report May sales, which are expected to be similar to March and April results.
Ford CEO Jim Farley and his Rivian counterpart, RJ Scaringe will provide insights into their companies and the industry at Alliance Bernstein Conference. Toyota got legions of journalists coming to its North American headquarters this week, so it must be a busy time for TheDetroitBureau.
Printz to lead us through this week in automotive history, beginning in 1903 when Dr. Horatio Nelson Jackson accepted a $50 bet and he and his mechanic, Sewell Crocker, set out to drive across the U.S. With no driving experience, Jackson drafted Crocker to help. Husband made 63 days despite no maps – and in some places, no roads!
Find out more about the history of the industry and more by listening to the latest edition of TheDetroitBureau from Lamp News Podcast by clicking here. And look for a new episode every Monday!
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