Wholesale used car prices hold stable, EPA approves Calif. gas car sales ban, Stellantis delays 1500 REV again

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Auto credit access has reached a 13-month high:

Last month — several factors moved in favor of consumers…

Approval rates were up, term lengths shortened, negative equity eased, and down payments increased.

The result: All lender types (banks, captives, traditional, etc.) are loosening up and expanding approvals.

Onward and upward, folks.

(Data source: Cox Auto)

1. Wholesale used car prices hold steady so far this month

Wholesale used vehicle prices held steady in early December, but tighter inventory is starting to shake things up.

• The Manheim Used Vehicle Index rose 0.7% year-over-year, marking the second straight month of growth and hinting that prices may have bottomed out.

• Dealer demand remains high, with compact cars and pickups seeing modest gains, while EVs surged 3.5%.

With wholesale supply shrinking, all eyes are on how this trend will impact the market heading into 2025. … (Go deeper: 3 min. read)

2. EPA approves California waiver to ban gas-powered car sales

California just secured two key EPA waivers to ban gas-powered cars by 2035, marking a major milestone in its fight against vehicle emissions.

• The waivers also include stricter standards for heavy-duty trucks and off-road vehicles.

• But legal battles loom as fuel companies and opposing states push back.

With California setting the pace for a dozen other states, the stakes in this emissions showdown are higher than ever. … (Go deeper: 5 min. read)

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3. Stellantis delays 1st all-electric model to focus on Ramcharger EREV

Stellantis is pushing the launch of its all-electric Ram 1500 REV truck to 2026, shifting its focus to the extended-range Ramcharger.

Zooming in: The move reflects slowing EV demand and fierce competition in key markets like China. With up to 690 miles of range, the Ramcharger aims to strike the perfect balance between sustainability and practicality.

Meanwhile, Stellantis grapples with leadership shakeups and slipping sales, making this pivot critical to its recovery strategy. … (Go deeper: 3 min. read)

• U.S. backs off effort to recall about 50 million airbag parts.

• Union signals progress in marathon Volkswagen talks, but collapse still possible.

• Toyota lands $4.5M to boost EV battery sustainability.

• European EV sales were a mixed bag In November.

• China's CATL is planning a major expansion of battery swapping for electric vehicles.

Thanks for reading everyone.

— CDG