Cox Automotive Mobility Buys EV Battery Management Service Provider
Cox Automotive Mobility said Wednesday it has purchased Spiers New Technologies, a service provider for electric vehicle battery lifecycle management with operations in the U.S. and Europe, reports Auto Remarketing. The pairing of the companies is part of Cox Automotive Mobility’s new end-to-end global EV battery service network, where the company offers high-voltage battery solutions to dealers, automakers and fleet providers. Spiers provides repair, remanufacturing, refurbishing, and repurposing of advanced battery packs in hybrids and EVs, and gives Cox Automotive muscle in terms of diagnosing EV battery health and managing the lifecycle of those EV batteries. Or as one executive put it, the partnership brings “a closed-loop servicing ecosystem for EV batteries.” Read more here (Source: Auto Remarketing).
Toyota, Honda, Hyundai, Kia Sales Slip as Chip Woes Spread
The severe microchip shortage and other supply-chain constraints that have plagued automakers for months have now ensnarled Toyota, Honda, Hyundai, and Kia, reports Automotive News. August U.S. light-vehicle deliveries dropped 2 percent at Toyota Motor Corp., with volume down 2.4 percent at the Toyota division but edging up 0.5 percent at Lexus. Some of the Toyota brand's biggest sellers posted notable declines, with Highlander volume off 11 percent and RAV4 deliveries down 24 percent. Volume was off 16 percent at Honda Motor Co., with sales down 18 percent at the Honda division but up 4.7 percent at Acura. After a stretch of monthly record sales, August deliveries fell 3.7 percent at Hyundai and 5.3 percent at Kia, the companies said Wednesday. Read more here (Source: Automotive News).
VW Reaches $42M Settlement with U.S. Owners Over Takata Airbags
Volkswagen's U.S. unit has agreed to a $42 million settlement covering 1.35 million vehicles that were equipped with potentially dangerous Takata air bag inflators, according to documents filed in U.S. District Court in Miami. Reuters reports that the settlement is the latest by major automakers and much of the funding goes to boosting recall completion rates. To date, seven other major automakers have agreed to settlements worth about $1.5 billion covering tens of millions of vehicles. To date, at least 19 U.S. deaths have been attributed to faulty Takata air bag inflators. Honda Motor Co. said in April it had confirmed the 19th U.S. death tied to a ruptured Takata air bag inflator since 2009 - and the 16th in one of its vehicles. Honda reached an earlier $605 million civil settlement with owners similar to the Volkswagen settlement. Read more here (Source: Reuters).
Genesis to Go All-Electric from 2025, Triple Global Volume
South Korean premium player Genesis says it will go electric-only from 2025 as it phases out internal combustion and shifts exclusively to battery electrics and fuel cells on its way to tripling worldwide sales volume to 400,000 vehicles a year, reports Automotive News. The new product strategy, announced Thursday in a statement and YouTube video tease, accelerates Genesis’ fledgling drive into electrified powertrains. Hyundai Motor Group’s top-shelf brand said that all new vehicles will be electric from 2025 under a dual-pronged approach focusing on pure EVs and hydrogen fuel cells. The company will drop internal combustion technology from new models beginning that year, meaning Genesis will also bypass hybrids and plug-in hybrids, spokesman Jee Hyun Kim said. By 2030, the global lineup will consist of eight EV and fuel cell models, he said. Around that time, Genesis plans to achieve worldwide sales of 400,000 vehicles a year. Read more here (Source: Automotive News).
Ford Cuts F-150 Pickup Production Again Due to Chip Shortage
Ford Motor is once again cutting production of its F-150 pickup truck and other highly profitable vehicles due to the ongoing global shortage of semiconductor chips, reports CNBC. The automaker informed employees Wednesday of the cuts, which also impact production of its larger Super Duty pickups and Expedition SUV. “Our teams are making the most of our available semiconductor allocation, finding unique solutions to provide as many high-quality vehicles as possible to our dealers and customers,” Ford vice president of manufacturing and labor affairs John Savona said in an internal memo to employees obtained by CNBC. Most notably, the new production cuts include extending downtime at Ford’s Kansas City Assembly plant for the F-150 through the week of Sept. 6. Pickup truck production there has been down since last week due to the parts shortage. Read more here (Source: CNBC).
The State of the Auto Retail Industry: A Conversation with Steve Shannon
Steve Shannon, former vice president of marketing at Hyundai Motor America and current advisor for Podium, joins Beltway Talk to discuss the trends and factors he sees in the auto retail space in 2021 and beyond. Listen in to hear his take on digital retailing, communicating with customers, EVs, and more. Listen here, and make sure to subscribe to hear future episodes.
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