Hyundai + Kia Aug. sales, car loan delinquencies rise again, BMW recalls electric Mini Coopers

Hey everyone. I want to kick things off today by saying thank you. Without your support, your perspectives on the auto industry, and your willingness to share inside scoops with yours truly…none of this would exist. Thanks for being a part of the CDG journey.

Now, let’s get into today’s news.

— CDG

1. Hyundai, Kia sales jump in U.S. amidst global decline

Driving the news: Hyundai and Kia just posted their best-ever U.S. sales numbers for August, thanks to strong demand for hybrids and Labor Day deals.

But globally, both brands are feeling the pinch, with Hyundai’s worldwide sales down 5.3% and Kia’s down 1.7%.

As U.S. sales soar, global markets struggle, partly due to competition from China’s growing EV sector … Read more

2. Car loan delinquencies rise ahead of possible rate cuts

Car loan delinquencies continue to rise, hitting their highest July level since 2009, driven by inflation, high interest rates, and stubbornly high new car prices.

By the numbers: Loans delinquent by 30 or more days increased 10% year-over-year.

While the rate of growth has slowed from last year, the market's recovery hinges on interest rate cuts and a strong job market.

All eyes are on the Federal Reserve’s upcoming meeting to see what happens next … Read more

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3. BMW recalls electric Mini Coopers for potential fire risks

BMW is recalling more than 140,000 Mini Cooper SE electric models worldwide, due to faulty battery components that could short circuit and pose a fire risk, even when the vehicle is parked.

The recall affects Mini Cooper SE models built between 2020 and 2024, though no accidents or injuries have been reported … Read more

• Hyundai unveils 2025 electric SUVs aiming for broader appeal.

• Nissan boosts its electrification game with new PHEVs and BEVs on the way.

• Volkswagen warns time running out as clashes with workers over cuts

• Tesla launches ‘actually smart summon’ or ‘ass.’

• America’s Group buys Z66 Tulsa Auto Auction.

Thanks for reading everyone.

— CDG