Hey everyone. In case you missed it — we sent out our weekly email deep-dive this morning — a day earlier than normal on account of the Thanksgiving holiday.
And in this edition — we set our sights on Stellantis…
Read the full breakdown here to find out what the future might hold for this legacy automaker.
— CDG
For the first time in 2 years — used car values are up year-over-year:
By segment:
– Sedans: +1%
– Pickups: -2%
– SUVs: no change
– EVs: -11% (!)
– Overall: +0.5%
For now — tighter supply and a rise in wholesale buyer demand are keeping depreciation in check.
(Data source: Manheim)
1. U.S. new vehicle sales ramp up as year winds down
New car sales are revving up for Nov. fueled by the best deals buyers have seen in years.
By the numbers:
Analysts expect a seasonally adjusted annual rate (SAAR) of 16-16.5 million vehicles, a clear jump from last year’s 15.3-15.5 million.
Additionally, inventory levels are at their highest since the pandemic, pushing incentives to 7.7% of average transaction prices — the most since 2021.
And leasing is also making a comeback, now projected to make up 23% of retail sales.
Add to that a post-election boost in consumer confidence, and auto retailers could be steering toward a strong year-end finish … (Go deeper: 4 min. read)
2. Rivian's Georgia plant wins approval for $6.6B loan
Rivian just secured preliminary approval for a $6.6 billion Department of Energy loan to reignite its plans for a Georgia EV plant.
After putting the project on hold earlier this year to focus on its Illinois factory, the automaker is now eyeing a phased construction approach, with completion expected by 2028.
Once fully operational, the plant aims to produce up to 400,000 EVs annually, starting with the R2 and R3 models.
But the funding isn’t set in stone — Rivian must meet the DOE’s conditions, and a new administration could still threaten the deal … (Go deeper: 3 min. read)
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3. As EV sales slip, Porsche shifts focus to hybrids and ICEs
Porsche is rethinking its electrification strategy, pivoting back to internal combustion engines (ICEs) and hybrids to offset slower-than-expected EV adoption.
Driving the news: Despite aiming for 80% EV sales by 2030, the brand has relied on the Taycan as its sole electric offering — and its deliveries have dropped 50% year-over-year.
Now, Porsche plans to revamp ICE models like the Panamera and Cayenne while rolling out more hybrids alongside in addition to EVs … (Go deeper: 3 min. read)
Have a tip for our editorial team? Send us your scoop at [email protected].
Here are the fastest-charging EVs on fast and Level 2 chargers.
Dodge Charger EV is even cheaper to finance than the gas model with 0% APR.
Nissan exec. warns “We have 12 Or 14 months to survive.”
Auto industry’s shift toward EVs is expected to go on despite Trump threat to kill tax credits.
BYD and rivals in China tell suppliers to cut costs amid price war.
Did you like this edition of the daily roundup?
Thanks for reading everyone.
— CDG
