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Jun 2023

Rising Incentives Increase May Sales

A sharp rise in incentives at some brands amid the industry’s ongoing inventory recovery fueled a jump in U.S. light-vehicle sales last month. Deliveries rose 21% to around 720,000 vehicles for the seven automakers that report monthly figures. American Honda was among the big winners, notching a 58% gain, while Subaru of America posted a 28% increase.

May marked the industry’s 10th consecutive monthly sales increase, according to LMC Automotive, as it continues to bounce back from supply chain challenges that dogged automakers last year. The latest results were helped by favorable year-earlier comparisons, when the inventory shortage was at its worst. Retail inventory entered June at around 1.3 million vehicles, up 48% from a year earlier, according to estimates from J.D. Power and LMC Automotive.

TrueCar estimated incentives averaged $1,931 last month, up 13% over April and 64% over May 2022.

May 2023

Toyota Recalls 96K Corolla Cross Crossovers

Toyota Motor North America said it is recalling about 96,000 Corolla Cross crossovers in the U.S. because the front passenger airbag might not deploy, increasing the risk of injury in a crash. The recall covers non-hybrid models from 2022 to 2023.

The automaker recommends no one sit in the front passenger seat until the vehicle is inspected and a repair is completed. The front passenger airbags in the affected vehicles might not deploy as designed because of a manufacturing error in the instrument panel, Toyota said in a statement. As a result, the vehicles might not meet federal safety standards.

Dealers will inspect the vehicles and, if necessary, replace the instrument panel at no cost. Vehicle owners will be notified by late July, Toyota said.

May 2023

Current Used Vehicle Market Conditions

Average wholesale used vehicle prices reached their spring/tax season peaks in April and have plateaued near those levels in May. However, average prices are down by more than $1,000 from last year’s peaks. Other than certified pre-owned (CPO) sales, which have benefitted in part from expansion of those programs to include older units, spring used vehicle retail sales have been underwhelming.

According to ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices by vehicle model class, wholesale prices in April averaged $16,476, up 0.6% compared to March, down 6.3% relative to April 2022, and up 43.2% versus pre-pandemic/April 2019. Car segments showed month-over-month price declines, while truck segments showed modest gains on average.

Retail used vehicle sales overall are down 3.6% year-to-date while CPO sales are up 6.3%, reflecting strong demand for late-model used units. Nevertheless, sales for both groups are down from stronger sales in 2021 and pre-pandemic.

Stellantis Vehicle Updates

Stellantis is currently in the process of finalizing their ordering guides. Once finalized, AutoData will take 7-10 days to update.

May 2023

GM Recalls 668K Chevy/GMC Vehicles

General Motors is recalling more than 668,000 Chevrolet Equinox and GMC Terrain vehicles in the U.S. for child seat anchors that may not function properly. The recall affects Equinox and Terrain compact crossovers from the 2020-23 model years. Those vehicles fail to comply with requirements under a federal safety standard for child restraint anchorage systems, according to NHTSA.

To fix the issue, dealers will inspect the anchorage bars and remove and replace the finish as necessary. GM is advising vehicle owners to install child seats using the rear seat belts until the repair is complete. Owners are expected to be notified starting June 26th.

Ford Recalls 310K Trucks

Ford is recalling more than 310,000 trucks in the U.S. because the driver’s front air bag may not inflate in a crash.

The recall covers certain F-250, F-350, F-450, and F-550 Super Duty trucks from the 2016 model year. Dealers will replace the steering wheel wiring assembly at no cost to owners, who will be notified starting July 5th.

Stellantis Recalls 219K Jeep Cherokees

Stellantis said Tuesday it is recalling just over 219,000 Jeep Cherokee SUVs globally for fire risks and warning owners to park outside until repairs are made. About 132,000 of the vehicles were recalled in the U.S. The recall covers 2014 through 2016 model year Jeep Cherokee vehicles equipped with a power liftgate. An electrical short in the power liftgate module may lead to a vehicle fire with the ignition on or off.

The automaker said “owners are advised to park outside and away from structures until the recall repair is complete.” Stellantis is still working on the recall fix and owner notification letters are expected to be mailed June 30th. In addition to the 132,000 vehicles in the U.S., another 23,000 units are in Canada, 3,000 in Mexico and 60,500 outside North America. NHTSA said owners should follow Stellantis advice and park outside until the recall is developed and owners get repairs.

VW Recalls ID.4s

VW has announced a recall on more than 35,000 ID.4 SUVs, as the doors can open unexpectedly while the vehicle is in motion. The recall was published to the National Highway Traffic Safety Authority (NHTSA) website May 3. The recall applies to 35,325 model year 2021-2022 ID.4 SUVs.

According to the recall, the affected vehicles may have been manufactured with door handles that allow water to enter the circuit board assembly, which can cause the doors to open unexpectedly when the vehicle is subject to high lateral forces at speeds below 9 mph/15 kmh, the company says. Dealers will update the vehicle software and inspect the door handles as necessary, free of charge, the recall states.

Nissan Fleet Ordering Process

Nissan MY24 order banks will open on 5-17-23 for customers who have received a quote and granted permission to order.

MY24 Program overview:

May 2023

NHTSA Demands 67 Million Airbag Inflators to be Recalled

The National Highway Traffic Safety Administration demanded the recall of 67 million airbag inflators because it believes there is a safety defect, but auto supplier ARC Automotive Inc. rejected the U.S. regulator’s request. ARC airbag inflators are in General Motors, Stellantis, BMW, Hyundai Motor, and Kia Motors vehicles.

GM agreed to recall nearly 1 million vehicles with the ARC airbag inflators. The GM recall covers 994,763 Buick Enclave, Chevrolet Traverse, and GMC Acadia vehicles from the 2014 through 2017 model years with modules produced by ARC Automotive Inc. Dealers will replace the driver’s air-bag module.

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