Auto loan access tightens, used EVs are selling fast, Honda plans first all-electric Acura

Hey everyone. Stellantis is making headlines for topping the list of slowest-selling vehicles in the U.S.

According to CarEdge.com, several models are experiencing a major inventory surplus.

1. The Dodge Hornet leads the pack with a days’ supply of 428 days.
2. The Jeep Grand Wagoneer: 428 days too.
3. The Jeep Grand Wagoneer L rounds out the list with 354 days.

…Not good at all.

And get this — Stellantis incentives inched lower across all brands in August… Make it make sense.

— CDG

1. Auto financing gets tougher as incentives ramp up

Auto loan approvals are getting more difficult, with credit access shrinking for the fifth straight month and delinquency rates climbing, particularly among subprime borrowers.

What’s happening: The market is jittery, and many auto finance companies are tightening their lending criteria to avoid defaults—just as incentive packages reach their highest level in years.

But with credit criteria getting stricter and financing more limited, the window for taking advantage of incentive-heavy deals (and clearing out 2024 inventory) is shrinking … Read more

2. EVs are the hottest deals in the used market

Used EVs are flying off dealership lots faster than gas-powered cars, driven by a 25% year-over-year drop in prices and enticing federal incentives.

While used EV prices have dipped to an average of $26,839, prices for hybrids and gas-powered cars have remained stable at around $30,000.

What’s more? With many EVs now nearing the $25,000 tax credit threshold, buyers potentially stand to score even better offers … Read more

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3. Honda to build first Acura EV at retooled Ohio hub

Honda has unveiled plans to produce its first all-electric Acura at its newly established EV Hub in Marysville, Ohio, with production beginning in late 2025.

Driving the news: This new model, based on the Acura Performance EV Concept, will be built on Honda’s next-generation EV platform.

Backed by a $700 million investment in its Ohio facilities and a $3.5 billion joint battery venture with LG Energy Solution, Honda still has its eyes set on an all-EV future.

But it’s not saying goodbye to gas-powered vehicles just yet … Read more

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• E.U.'s gas car ban: Italy warns of industry 'collapse.'

• NHTSA investigates Jeep Wrangler and Gladiator for engine fire risk.

Thanks for reading everyone.

— CDG