AD #3376 – Lamborghini In No Rush to Introduce EVs; U.S. Car Sales Still Weak; GM Expands Super Cruise in North America

This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.

U.S. CAR SALES STILL WEAK BUT SHOW SIGNS OF IMPROVEMENT
Car sales in the U.S. remain fairly weak but the industry is making incremental progress. Wards Intelligence reports that automakers sold 1.13 million vehicles in July, which is down nearly 12% compared to a year ago but is flat compared to last month. The seasonally adjusted annual rate or SAAR was a pretty dismal 13.4 million units, that’s more than a million units less than last July, but a slight improvement from June, which had a 13.0 million SAAR. Car sales remain weak because of low inventory but Wards says there’s enough pent-up demand to hit a 16 to 17 million-unit SAAR. And here’s a bright spot for consumers. According to TrueCar, incentive spending increased slightly in July to $1,162. That’s the first time since December 2020 there was a month-to-month boost in incentives.

BMW BLAMES SUPPLY ISSUES ON FIRST HALF SALES DROP
BMW reported its first half earnings and the results are pretty solid. The automaker sold 1.16 million vehicles in the first half of the year, including MINI and Rolls-Royce, which is down 13.4% compared to last year. BMW blames the chip shortage and supply chain disruptions caused by COVID lockdowns in China for the sales drop. But there was one bright spot for BMW, electric vehicles. It sold nearly 76,000 BEVs, which is more than double compared to last year. And despite posting overall weaker sales, its revenue hit nearly 66 billion euros, a gain of nearly 20% over last year and its net profit of 13.2 billion euros is up a whopping 73%. But BMW expects the second half of the year to remain volatile and says supply chain issues will continue and as a result sales will likely be lower than last year.

FERRARI POSTS STRONG FIRST HALF RESULTS
Ferrari also had a great first half to the year, thanks to a strong second quarter. It sold 6,706 vehicles in the first six months of the year, a gain of 23% compared to a year ago. That brought in 2.5 billion euros in revenue, which is up 21%. And its net profit increased 19% to 490 million euros. Ferrari expects to have a good second half of the year as well and its raising all of its full-year targets because of the strong first half results.

LAMBORGHINI IN NO RUSH TO INTRODUCE EVs
While most automakers are rushing to come out with electric vehicles and have pledged to switch to an EV only lineup, Lamborghini isn’t in any hurry and is taking a more relaxed approach. During a recent reporter roundtable, the CEO of Lamborghini Stephen Winkelmann said “we don’t need to decide now” when asked when the company will transition to an electric only lineup. He said they have at least a few years to decide because EV legislation could still change in the coming years. Its first EV isn’t scheduled to come out until 2030 and in the meantime, it will launch its first hybrids in 2024. But customers don’t seem to mind its lack of electrics, last year Lamborghini set a sales record of 8,405 vehicles globally.

MAZDA CX-50 GETS MORE RUGGED LOOK
Mazda says the new CX-50 is the first vehicle it’s ever designed exclusively for the North American market. In a recent test of the vehicle we felt like that was reflected in the look and driving style of the CX-50. Now that American-ness is being applied to its trim packages. The CX-50 Meridian comes standard with a 2.5L turbocharged 4-cylinder engine paired with AWD as well as unique 18-inch wheels and Falken all-season tires. Options for a roof rack, rocker and headlight garnish, front and rear splash guards and a black hood graphic also add to its off-road look. The CX-50 Meridian goes on sale this fall with a price of a little more than $41,000, including destination charges.

F-150 LIGHTNING NOW IN ALL 50 STATES
Ford is making it look like it’s on the right track with the F-150 Lightning. The automaker started delivering the electric truck to customers in the U.S. two months ago and says there’s now a Lightning in all 50 states. This is good news for the company, but we’ll be waiting to see if it can hit both quantity and quality targets with the Lightning.

GMC TEASES NEW CANYON
Speaking of trucks, first Chevy revealed its new all-new mid-size pickup, the Colorado, soon it will be GMC’s turn. The brand teased the new Canyon, which will debut on August 11th. This is the AT4X trim package, which includes a factory suspension lift, and shows off the new face of the truck. No word yet when the new Canyon will be available.

CHEVY BOLT OWNERS MUST PROMISE NOT TO SUE TO RECEIVE REBATE
Here’s a follow up to a story we ran on the 1st of last month. That’s when news dropped that GM would offer a reimbursement to customers who bought a new Bolt or Bolt EUV this year before a $6,000 price cut was announced. Most of them will get about $5,000 and it applies to all new models, even if it’s a 2020, 2021 or 2022 model year. But there’s a caveat. Owners that agree to the refund must promise never to sue the company over the Bolt’s battery problems or the subsequent recall. So, what would you do? Take the money and run or tell ‘em to shove it. 

GM EXPANDS SUPER CRUISE IN NORTH AMERICA
In other GM news, it’s once again doubling the number of roads that its hands-free Super Cruise system will operate on. It currently sits at 200,000 miles, but later this year that will jump to 400,000 miles of roads in the U.S. and Canada. It also expands to non-divided highways, which wasn’t available before. The update will be available on all newly built vehicles with Super Cruise capability and will then roll out as an OTA update to existing customers. However, the full update is only compatible with vehicles that operate on GM’s new electrical architecture, which excludes vehicles like the Cadillac CT6 and XT6 and the Chevy Bolt EUV. But by the end of next year GM will have 22 models that offer Super Cruise.

But that’s the end of today’s show. Thanks for joining us.