February 1st thru February 7th 2024 – Automotive News Roundup
At 2 AM EST on the morning of February 7th, Nissan announced their new full-size van offering. For those who recall, the manufacturer had the NV line of small and large vans in the USA up until a few years ago. Now, through a partnership with Renault, Nissan has revamped its van offerings in Europe, where the the company has continued to have vans available. The new Interstar and Interstar-e, may not be just for Europe though. Nissan is allegedly studying the response on how the new ICE (Internal Combustion Engine) and the full electric vans will do to determine if a USA entry will be next. But, the speculation is just that, speculation.
A Newsweek article posted February 7th, put forth an idea that has become very apparent to most every automotive consumer – pricing of vehicles is becoming increasingly unattainable for larger and larger segments of the population.
The article states that since the 2020 pandemic, pricing of new vehicles in the USA escalated 30 percent, while used vehicles values have also risen 38 percent. The average new car sale in 2023 was $50,364, and used sales chimed in at $31,030.
Many things can be extrapolated by these figures. But, these hits to the pocketbook have made purchases more difficult for everybody, especially for seniors who live on fixed incomes, and the often young first-time purchasers that are already struggling with educational expenses. Only so much financial stretching can happen before the idea of alternatives to a purchase are seriously looked at. Although, indicators do show a slow market correction is happening for both new and used vehicle prices.
Compounding the price hikes, consumer tastes have increasingly shifted. More SUV and truck purchases are the norm. These are historically higher priced vehicles. But, finding smaller vehicles has also become more difficult as manufacturers are currently offering fewer.
Have the higher vehicle prices recently affected your purchasing decisions? Sound off on our Facebook page.
On February 6th, hot on the heels of the 2024 Macan reveal the prior week, Porsche had news about another of its models. The order book is officially open for the 2025 Taycan. The refreshed electric vehicle boasts updated chassis, suspension, and performance. Available in rear or all-wheel drive, the vehicle can be configured all the way up to a 700 kilowatt, 938-horsepower vehicle that can charge faster than than the outgoing model. Times for 0-60 mph sprints are listed in just 2.3 seconds. Pricing starts at $99,400 for the base model and continue over $200,000 for the Taycon Turbo S Cross Tourismo.
Is the new Taycan tantalizing to you? Sound off on our Facebook page.
Also on February 6th, Ford CEO, Jim Farley let it be known that Ford has been pursuing a lower cost electric vehicle to add to its portfolio of products with a group within the company he called a “Skunkworks” type of operation. In an earnings call, he indicated that the team has been working for two years already. Their aim is to provide alternatives to coming USA competition from China and also Tesla’s yet-to-be introduced small platform EV. Further details on the new Ford, however, are not available.
Are lower cost EV offerings what you need to switch to an electric vehicle? Sound off on our Facebook page.
The National Football League will be having its big game this weekend. Traditionally some automakers will pay for new and/or innovative ads during the broadcast. It’s an opportune time, though expensive, to launch new product, or deliver a message. Keep your eyes on next weeks news round up for a link to the notable car commercials that aired.
Other news this week,…
Australia may be finally adopting automotive cleaner air standards. Increased pricing is expected to be absorbed by the consumer. See story here.
The Mini Cooper S gets some updates. See here.
Safety – Check for active automotive recalls here.
The views and opinions expressed by HJ Pizarro are the author’s alone and do not reflect the opinions or beliefs of this website and/or its affiliates.