Electric Vehicles Are Less Reliable Because of Newer Technologies, Consumer Reports Finds

First Up 11/17/22

Electric Vehicles Are Less Reliable Because of Newer Technologies, Consumer Reports Finds

Electric vehicles are among the least reliable cars and trucks in the automotive industry today, according to Consumer Reports rankings released Tuesday. When compared with hybrid and gas-powered cars and trucks, electric vehicles powered entirely by batteries were the worst-performing segment, aside from traditional full-size pickup trucks, according to Consumer Reports. Reliability issues with electric vehicles were expected, since most automakers, with the exception of early EV leader Tesla, launched fully electric models in recent years, said Jake Fisher, senior director of auto testing at Consumer Reports. He said companies have not had time to iron out issues that impact reliability. Since electric car buyers tend to be tech-loving early adopters, automakers also pack the models with a host of other features, which could also lead to problems. “The automakers are using EVs as a technological testbed for whatever new technology they want to try out,” Fisher told CNBC. “By having all this new technology, there’s a lot of potential problems with them.” Click here for the full story.

The New Toyota Prius Has a Huge Power Boost and Even Better Fuel Efficiency

Toyota unveiled an all-new version of its famous Prius hybrid car Wednesday just ahead of the Los Angeles Auto Show. It’s lower, longer and sleeker looking, with just less than a 10 percent improvement in the model’s vaunted fuel efficiency. Bigger gains come in terms of power and performance. CNN reports the hybrid Prius, which produces electricity to recharge its own batteries while it drives, will produce up to 196 horsepower, 62 percent more than the current model’s 121 peak horsepower. It will also manage to get about 57 miles per gallon of gasoline, according to Toyota’s estimates. As with the current Prius, the new version will be available with all-wheel drive with a separate electric motor powering the back wheels. Toyota also revealed a new version of the plug-in hybrid Prius Prime. The Prime uses more powerful batteries that, in addition to being charged by the car itself, can also be charged through a plug. With its batteries fully charged, the new Prius Prime will go at least 50 percent farther without burning any gasoline as today’s Prius Prime does, according to Toyota. Click here to learn about the new Toyota Prius.

Vietnam's Vinfast Says Four EV Models Coming to U.S.

Although Vietnamese automaker VinFast has yet to deliver its first EVs to the U.S. market this year as promised, it's already presenting two future U.S.-bound models at the L.A. auto show beginning Thursday. The company, which is phasing out gas models this year in favor of EVs, is showing the subcompact VF 6 and compact VF 7 to compliment the VF 8 and VF 9 midsize models that are already open for preorder, reports Automotive News. The four crossovers cover the B, C, D and E segments, VinFast said, covering roughly the subcompact to midsize segments in the U.S. The VF 8, which is the first model scheduled to arrive in the U.S., is a two-row crossover while the VF 9 is a three-row model that VinFast describes as full-sized. "VinFast will display four all-electric SUV models — the VF 6, VF 7, VF 8 and VF 9 — which represent the most popular segments," VinFast said in a statement. "For the first time, U.S customers will experience the interior and exterior design details of the VF 6 and VF 7." Click here for the full story.

New G20 Irritant for Biden: Restrictive U.S. Electric Vehicle Tax Subsidies

Electric vehicles shuttled G20 delegations and security forces across the southern tip of Bali this week in a symbolic show of Indonesia's ambitious energy transition plans. But virtually none of the cars on display, led by Hyundai's retro-boxy Ioniq 5, would qualify for a new U.S. $7,500 tax credit for North American-built EVs — a sore spot for some leaders and ministers at the just-concluded G20 leaders’ summit. Reuters reports some U.S. allies, notably from Europe and South Korea, used the gathering to make their displeasure known to President Joe Biden and his Treasury Secretary, Janet Yellen, over the restriction of the tax credit for EV purchases to those assembled in North America only. The move angered foreign governments and foreign-owned carmakers who say the change will disqualify a majority of their EV fleets from North American markets. Previously all electric vehicles were eligible for the credit. Click here for the full story.

Most Popular Brands with New Car Shoppers

More mainstream buyers considered Toyota or BMW vehicles when shopping for a brand than any other in the third quarter of 2022. Toyota not only maintained its lead but widened it over Ford and Chevrolet, reports The Detroit Bureau. In the luxury segment, BMW comfortably maintained its lead as Tesla buyer consideration dwindled, with the Tesla Model Y and Model S dropping from the Top 10 most-shopped list. Those are the latest findings of the Q3 2022 Kelley Blue Book Brand Watch; a consumer perception survey compares a brand or model to its competitors in its market based on a dozen characteristics essential to a consumer’s purchasing decision. “BMW and Toyota continue to stand firm in their positions as the most-shopped luxury and non-luxury brands,” said Vanessa Ton, senior research, and market intelligence manager at Cox Automotive. BMW continues to rank at the top in consideration among luxury buyers at 22 percent.  It was followed by Lexus and Cadillac (17 percent), Audi (15 percent) and Mercedes-Benz (14 percent) rounding out the top five. Click here for the full story.

CARFAX: Alarming Number of Vehicles Overdue for Routine Maintenance

Holiday travel this year is projected to continue climbing back toward pre-pandemic levels, which means more people hitting the road in coming weeks. But concerning new CARFAX data shows nearly half of vehicles on the road are overdue for a tire rotation and about 30 percent of vehicles are overdue for an oil change. In addition, about one in five vehicles on the road has a safety recall that hasn’t been repaired.

CARFAX for Life dealers are able to help customers better track maintenance needs with CARFAX Car Care. Car Care is a free tool that tracks service needs, with timely service reminders and notifications of new recalls. In addition to just running better, also worth noting is CARFAX data shows that a well-maintained car is worth an extra $2,000 on average in resale value over one that hasn’t gotten its TLC.

To learn more about how CARFAX for Life can help you build service loyalty, call 833-807-8899 or visit the CARFAX for Dealers website.

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