Hyundai Motor Group Tops IIHS' Toughened Vehicle Safety Awards

First Up 02/27/24

Hyundai Motor Group Tops IIHS' Toughened Vehicle Safety Awards

Hyundai Motor Group, which includes the Genesis, Hyundai, and Kia brands, picked up the most honors in the Insurance Institute for Highway Safety's initial list of 2024 vehicle safety award winners. According to Automotive News, the group earned six of the institute's Top Safety Pick+ awards — its highest safety honor — for models including the Hyundai Ioniq 6, Kia Telluride and Genesis GV60, and 10 Top Safety Pick awards for models including the Hyundai Elantra and Genesis G90. Toyota Motor Corp., which includes Toyota and Lexus brands, had the second-highest total, receiving one Top Safety Pick+ award for the Toyota Prius and 12 Top Safety Pick awards for models including the Toyota Highlander and Lexus NX. Mazda received five Top Safety Pick+ awards — the most of any single brand — and earned one Top Safety Pick award for the CX-90 plug-in hybrid. Of those, 22 earned the Top Safety Pick+ award, compared with 28 models at this point in 2023. Another 49 models have earned the Top Safety Pick designation, compared with 20 in 2023, according to the institute's initial list of 2024 model award winners. Click here for the full story.

New Vehicle Transaction Prices Continue to Fall

Many dealers have fat inventories and steady sales, but incentives have taken a bite out of their profit margins, according to Kelley Blue Book. Year-over-year price declines accelerated in January, primarily because of manufacturers’ incentives designed to keep sales volume brisk, KBB reports. The seasonally adjusted annual rate of sales stood at 15 million in January, a decline from December 2023’s 16.1 million and below the 15.1 million pace seen in January 2023, KBB says. In January, average discounts and incentives stood at 5.7 percent of the Average Transaction Price (ATP), marking an increase from December’s 5.5 percent and a nearly 100 percent rise from the previous year, reports Wards. In January 2023, when there was a significant 750,000-unit drop in new-vehicle inventory, average incentives were just 2.8 percent of ATP, reports KBB. “It is common to see lower transaction prices and sales in January, as December typically is a hot month for luxury vehicle sales,” says Erin Keating, Cox Automotive executive analyst. “However, the year-over-year new-vehicle ATP decline of 3.5 percent is notable. Prices have been trending downward for roughly six months now as automakers are sweetening deals to keep the sales flowing.” Click here for the full story.

Engines That Suck Carbon from the Air Are Toyota’s New EV Alternative

In the age of electric vehicles, Toyota's critics have pulled no punches in calling the Japanese carmaker's tenacious commitment to internal combustion backward, even ecologically unsound. But what if there was a technology that could make tomorrow's engines not only carbon neutral, but even carbon negative? Engines that suck carbon dioxide from the sky as they drive. Now, Toyota Motor Corp. is demonstrating just such a technology — a carbon capture engine, reports Automotive News. The world's biggest automaker began testing the system last year in a GR Corolla race car. The car's hydrogen-burning engine emits only trace amounts of carbon dioxide, making it carbon neutral. And a new filtering device removes the greenhouse gas from the atmosphere with every lap. "This type of technology to capture carbon dioxide in the atmosphere is advancing rapidly in the infrastructure industry," said Naoaki Ito, project general manager of GR vehicle development. "But as far as we know, Toyota is the first company to test this technology in a vehicle." Still, there are many hurdles to commercializing the technology, which in tests removes only small amounts of carbon dioxide from the air. Click here for the full story.

Automotive Market Forecast: Trends, Challenges, and Opportunities in 2024 — Charlie Chesbrough | Cox Automotive

The automotive market performed astonishingly well in 2023, exiting the year mostly unphased by inflation challenges, rising interest rates, labor strikes, and the electric vehicle segment’s disappointing performance. Now that January 2024 is out of the way, where do experts think the market go next, and will it remain as strong as it is now? On this episode of CBT Now, host Shyann Malone is joined by Charlie Chesbrough, senior economist at Cox Automotive. Chesbrough has been a guiding voice for dealers throughout the COVID-19 pandemic, providing crucial insights into the automotive market’s current and future dynamics. Now, he discusses the car industry’s experiences in January and what they suggest about the months ahead. January saw a typical dip in sales volume following December but remained flat from last year when adjusted for an extra sales day. This indicates a milder automotive market than anticipated, suggesting a cautious approach may be necessary for forecasting future market dynamics. Click here for the full story.

2024 BMW i5 Review: 5 Series Goes Electric, Better for it

The 2024 BMW i5 is the all-electric version of the new, next-generation 5 Series. You’ll be hard-pressed to tell them apart visually, which is a stark difference from Mercedes’ approach to electrification where the EQE is quite obviously a completely different car from the E-Class – for better and for worse. There are certainly downsides to this concept as well. Sharing a body structure with an internal combustion vehicle means it doesn’t have as much back seat or cargo space as a dedicated EV like the EQE, reports Autoblog. In general, though, the i5 is a very appealing luxury sedan, arguably moreso than the 5 Series itself. It’s also one of the best electric luxury sedans. For 2024, there are two versions: the eDrive40 that has a single motor, rear-wheel-drive and a maximum range of 296 miles. The M60 has two motors, all-wheel-drive, and considerably less range, but pumps out 258 more horsepower than the eDrive40. That says more about how nutty the M60 is than anything – the eDrive is already impressive, nail-you-to-your-seat quick. Given its range advantage and overkill nature of the M60’s performance, we think the eDrive40 is the i5 to get. Click here for the full review and to view photos.

 

Around the Web

Tested: 2024 Mercedes-AMG C63 Is the Quickest C-Class Ever [Car and Driver]

Nissan's Interactive Puppet Entertains Fussy Babies so Parents Can Drive [Autoblog]

Lamborghini Sees Full Order Books as Super Rich Keep Shopping [Bloomberg]

2025 Honda CR-V e:FCEV Is America's First Plug-In Hydrogen Fuel Cell Vehicle [Jalopnik]

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