BMW Celebrating 50 Years of M
BMW’s M Series, which emerged as a separate brand under the BMW umbrella, is turning 50 this year and celebrating its success with new special anniversary editions. The Detroit Bureau reports the Bavarian automaker created the M Series after AMG became more involved with Mercedes-Benz. AMG turned the motor racing world upside down in 1971, taking a Mercedes-Benz executive sedan and transforming it into the 6.8-liter “Red Pig.” The car made history by finishing second at the 24 Hours of Spa, beating much lighter sports cars from rival manufacturers. During the past five decade, the BMW M has built a community of fans among enthusiasts, who will enjoy the new vehicles from the company now known as BMW M Gmbh, which is presenting a limited-edition model exclusive to North America, the M3 Edition 50 Jahre BMW M. The M3 Edition 50 Jahre BMW M will be available in only one, well-equipped configuration, which includes the Executive and Parking Assistance packages, Icon Adaptive LED headlights with a Laserlight, carbon fiber interior trim, wireless device charging and M Shadowline headlights. Click here for the full story.
Dealers: Some Used Car Prices Going Down
There’s good news for those looking to buy a used truck or SUV. WGEM NBC reports Quincy Shottenkirk Toyota sales manager Aaron Peters said they have been noticing prices for used trucks and SUVs have been dropping over the past two months. He said there’s a surplus of those cars as people have been trading them in for more fuel-efficient vehicles. “You are seeing a lot of people move, at least right now, to vehicles that are getting a little bit better gas mileage,” he said. “You are getting into the summer season so you’re not always needing that four-wheel drive or that all wheel drive.” He said while it can vary from car to car, they are seeing the prices drop anywhere between $2,000 and $4,000. Peters said whether those prices continue to drop depends on the supply of new cars. Peters said due to the uncertainty in the market, it’s hard to predict what will happen to used car prices as we move into the summer months. Click here for the full story.
Hyundai's Jose Muñoz Works Through Supply Challenges for EV Plan
Hyundai Motor North America CEO Jose Muñoz's oversight of product and operations spans multiple continents in his twin role as global COO of Hyundai Motor Co., but his top priority remains a big one: the automaker's performance in North America. Hyundai's sales volume and reputation in the competitive U.S. market have improved under Muñoz's leadership. He says that focusing on tech-oriented, high-margin products is a win-win-win for the manufacturer, dealers and consumers. And Hyundai's blossoming Genesis luxury brand finally has a fistful of unique products and its first standalone stores. With an electric vehicle factory just announced in Georgia that will bring 8,100 jobs to the region and add 300,000 units of annual capacity, the EV future looks bright for the automaker, long overshadowed by early competitors, including General Motors and Nissan Motor Co. Muñoz, 57, talked with Automotive News Staff Reporter Carly Schaffner about why the time is now for EVs, supply chain struggles, and the learnings the company garnered during one of the most transformative times in carmaking in decades. Click here to read the full interview.
EV Advertising Becoming Part of Today's Dealers’ Reality
Electric vehicles have become a polarizing topic over the years. Every day there seem to be dozens, if not hundreds, of articles talking about this segment of the automotive market. Electric vehicles have become a polarizing topic over the years. Every day there seem to be dozens, if not hundreds, of articles talking about this segment of the automotive market. However, EVs still make up less than 5 percent of the total number of cars and trucks sold today reports Wards. That being said, global passenger EV sales rose 94 percent year-over-year in third-quarter 2021, reaching nearly 1.7 million units, which translates to over 1 million EVs being sold for four consecutive quarters. China and Europe are two global markets that have significantly driven up the demand for EVs, as they both see consumer acceptance going far beyond government emissions mandates. Here in the U.S., relaxed fuel-economy targets and weak charging infrastructures have curtailed demand, but it is furiously picking up. New fuel-economy regulations are being passed and the 2021 Infrastructure Investment and Jobs Act shows much promise of a stronger national charging infrastructure. Click here to learn how dealers can advertise EVs.
Mercedes Readies EV-Focused MMA Platform for 'Entry Luxury' Models
Mercedes-Benz's new, more luxury-focused MMA entry-level platform will launch with an all-electric model in 2024. The "electric first" platform, which can also be adapted for internal-combustion engines, will introduce a new generation of technology and set the standard for future Mercedes architectures to come, CEO Ola Kallenius said. Mercedes briefly showed a silhouette of a compact coupe-styled sedan that will be built on the platform at the event. Automotive News reports analysts were also given a preview of a physical car, but no official images were released. "This new MMA architecture ushers in a new generation of technology, both on the drivetrain side in terms of battery chemistry, efficiency. and the drivetrain itself," CEO Ola Kallenius told analysts at the group's capital markets day in Monaco. It will also use the new MBOS infotainment system. Mercedes plans to push its entry-level models much further upmarket, with higher prices and a lower share of the automaker's overall sales. The number of body styles in the segment (mostly compact size) will be cut to four from seven, and the share of Mercedes' sales will be trimmed 25 percent from 2019 levels by 2026. Click here to for the full story.
Carfax Identifies Vehicles Targeted Most Often for Catalytic Converter Theft
Catalytic converter thefts have soared in recent years, thanks in large part to the spiking prices of precious metals. Thieves are removing catalytic converters by cutting them from beneath vehicles, and it can happen to cars sitting on your dealership lot. To help dealerships identify the vehicles most at risk, CARFAX has compiled a nationwide list of the top targets for these precious-metal thieves:
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1985-2021 Ford F-Series pickup trucks (F-150, F-250, etc.)
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1989-2020 Honda Accord
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2007-17 Jeep Patriot
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1990-2022 Ford Econoline vans
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1999-2021 Chevrolet Silverado pickup trucks
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2005-21 Chevrolet Equinox
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1997-2020 Honda CR-V
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1987-2019 Toyota Camry
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2011-17 Chrysler 200
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2001-21 Toyota Prius
Depending on where you’re located in the country, certain vehicles are targeted more heavily. See a break down by region here. So just how prevalent is catalytic converter theft? The National Insurance Crime Bureau, which tracks thefts reported to insurance companies, says the number of those reports increased about 1,215% from 2019 to more than 52,000 in 2021. To learn more about CARFAX call 833-807-8899 or visit the CARFAX for Dealers website.
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