Ford Motor Co. will cut Transit van output in Missouri and truck output in Ohio and reduce shifts at a number of other plants due to the ongoing semiconductor shortage. The automaker said production will be halted next week at its Ohio Assembly Plant, where it builds medium trucks, Super Duty chassis cabs, E-Series cutaways, and stripped chassis. The Transit side of the Kansas City Assembly Plant will also be down next week, although the side that builds the F-150 pickup will run.
Additionally, output at Ford’s Kentucky Truck and Chicago Assembly will be reduced to two shifts, while production at Dearborn Truck will be cut to one shift.
“The global semiconductor shortage continues to affect Ford’s North American plants – along with automakers and other industries around the world,” a Ford spokeswoman said. “Right now, it’s clear we’re still in the middle of the chip shortage, and we’re probably going to struggle for the first half of the year with it,” Executive Chairman Bill Ford told CNN last week.
KIA/Hyundai Recall More than 500k Vehicles
Kia America and Hyundai Motor America are recalling more than 500,000 vehicles combined for possible defects that could cause engine compartment fires, according to separate notices filed with NHTSA. The affected Kia vehicles are certain 2016-18 K900 and 2014-16 Sportage models. The recall affects 126,747 Kia vehicles in the U.S. and 13,571 in Canada, the automaker said. The affected Hyundai vehicles are certain 2016-18 Santa Fe, 2017-18 Santa Fe Sport, 2019 Santa Fe XL and 2014-15 Tucson models. About 357,830 vehicles in the U.S. and 67,355 in Canada are affected, Hyundai said in a statement.
Both automakers urged owners of the affected vehicles to park outside and away from other vehicles or structures, even if the vehicle is turned off.
E-Transit Vans Beginning to be Shipped
The automaker began shipping E-Transit electric vans to customers as the vehicle joins the Mustang Mach-E among Ford’s EV offerings. Ford last month said it has already booked 10,000 E-Transit orders from about 300 commercial customers, including Walmart. “E-Transit is a testament to the fact that an electric commercial fleet is no longer a vision of tomorrow, but a productivity-boosting modern reality,” Kumar Galhotra, Ford’s president of the Americas & International Markets Group, said in a statement.
Ford has put commercial buyers at the forefront of its EV strategy, dedicating a separate business unit, Ford Pro, to developing charging solutions, telematics offerings and vehicle financing specifically for fleet owners
Remarketing Update
Cox Automotive said that its Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim’s U.S. auctions, rose just 0.04% in January compared with December. The January number, however, was 45% higher than a year earlier. Those numbers were adjusted for mix, mileage and seasonality. Total used-vehicle sales fell 0.8%in January compared with the year-earlier period, Cox Automotive estimated.
January price patterns varied by vehicle age and segment, with older vehicles likely to see stabilizing prices and younger vehicles likely to see larger declines, according to Manheim. All major market segments saw seasonally adjusted year-over-year price gains in January, according to Manheim. Van prices grew by nearly 60%, the biggest such change, followed by compact car prices, which rose 52% from January 2021. Pickups and luxury cars lagged the overall market. Month to month, it was a different story. Prices for midsize cars, sports cars and SUVs rose in January compared with December, while prices for compact cars, luxury cars and pickups decreased.
Feb 2022
Tesla recalls 54K U.S. Vehicles
Tesla Inc. is expected to recall 53,822 U.S. vehicles with the company’s Full Self-Driving (Beta) software that may allow some models to conduct “rolling stops” and not come to a complete stop at some intersections posing a safety risk.
The National Highway Traffic Safety Administration said the recall covers some 2016-2022 Model S and Model X, 2017-2022 Model 3, and 2020-2022 Model Y vehicles. NHTSA said the feature may allow vehicles to travel through an all-way stop intersection without first coming to a stop. Tesla will perform an over-the-air software update that disables the “rolling stop” functionality, NHTSA said.
Jan 2022
Stellantis Early Order Cut Offs
Due to unprecedented demand, Stellantis Fleet has announced the 22MY Order cut off:
Immediately for:
22MY Jeep Compass Sport FWD and 4×4 (MPTL, MPJL)
22MY Jeep Cherokee Altitude FWD and 4×4 (KLTE, KLJE)
22MY Jeep Renegade Sport 4×2 and 4×4 (BVTL, BVJL)
Effective Friday, January 21st, 2022 for:
All other 22MY Jeep Compass (MP) models
All other 22MY Jeep Cherokee (KL) models
All other 22MY Jeep Renegade (BV) models
Stellantis Fleet will attempt to accommodate all orders submitted on time, defined by time zones order sweep, on Friday, January 21st 2022, however, cannot guarantee production nor offer price protection.
Jan 2022
Used Vehicle Market Conditions
Average wholesale prices softened modestly through year-end after reaching new highs in early November. Prices remained dramatically higher than a year-ago and at pre-pandemic levels, as demand continues to outstrip supply.
According to KAR Global Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale prices in November averaged $16,163, down 0.9% compared to October, up 32.9% relative to November 2020, and up 48.0% versus pre-COVID/November 2019. Wholesale prices in December averaged $16,026, down 0.8% compared to November, up 34.8% relative to December 2020, and up 48.1% versus pre-COVID/December 2019. The year-end price moderation generally affected all model classes equally but left prices for all segments well above year-ago and pre-pandemic levels.
Based on NADA data, retail used vehicle sales by franchised and independent dealers in November (latest available) were down 7.9% month-over-month but up 11.4% year-over-year. Year-to-date through November, sales were up 9.7% versus 2020 and up 1.9% compared to 2019/pre-pandemic levels. CPO sales fell 16.5% month-over-month in November and recovered only modestly (up 2.5% m/m) in December, according to figures from Autodata. CPO sales on a year-to-date basis through December, were up 5.1% compared to 2020 but down 2.5% versus 2019.
Jan 2022
Record Set in 2021 for U.S. Used Vehicles
The number of used vehicles sold in the U.S. in 2021 hit an all-time record, according to Cox Automotive. They estimated that overall used-vehicle sales for 2021 were 40.9 million, an increase of about 10% compared with 2020.
The used-car market will remain strong in spring 2022, but it will “struggle to see any change in volumes” compared with the record amounts last spring, Cox Automotive Chief Economist Jonathan Smoke said. Cox Automotive, in a preliminary forecast, said it is predicting 2022 volume will come in at 39.3 million used-vehicle sales in total.
Cox Automotive analysts said they expected used volume to soften more in subsequent years as reduced new-vehicle production in 2020, 2021 and 2022 cuts down the number of vehicles available for the used market.
Jan 2022
GM to Launch Used-Vehicle Platform
General Motors this spring will launch CarBravo, a shopping platform designed to boost used-vehicle sales through GM dealerships.
“CarBravo will give customers more choice and access to shop significantly expanded inventories of both the dealer and a national central stock of GM used vehicles. Importantly, the program features will also be offered on non-GM used vehicles,” Steve Carlisle, president of GM North America, said in a statement. “CarBravo is designed to provide customers the convenience to shop how they want, where they want — online, at the dealership or both.”
Jan 2022
2021MY EMKAY Orders Due
Ford Ecosport – ASAP
Chevy Colorado – ASAP
GMC Canyon – ASAP
Chevy Silverado HD Reg, HD Dbl, and HD CC – 1/13/22
Chevy Suburban – 1/13/22
Chevy Tahoe – 1/13/22
GMC Sierra HD Reg, HD Dbl, and HD CC – 1/13/22
Cadillac Escalade & ESV models – 1/13/22
GMC Yukon and Yukon XL models – 1/13/22
Chevy Express Van – 1/20/22
GMC Savana – 1/20/22
Chevy Camaro – 2/17/22
Chevy Corvette – 2/17/22
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