AD #2695 – Toyota Mirai Gets Sleeker Styling, Dyson Drops Plans to Make EV, Used Car Prices Fall in U.S.

This is Autoline Daily reporting on all aspects of the global automotive industry.

DYSON DROPS PLANS TO MAKE EV
Vacuum maker Dyson found out making cars is not easy. It scrapped plans to make its own electric vehicle. Dyson said it, “simply cannot make it commercially viable” and could not find a buyer for the project. It also mentioned “the enormity and complexity of the project.” But Dyson will continue to concentrate on technologies that will be applicable to the automotive industry. Those include developing solid-state batteries, sensing technologies, vision systems, robotics, machine learning and AI. 

USED CAR PRICES FALL IN U.S.
Prices for used cars are falling in the U.S. and analysts are worried that it could put a dent in new car sales. A Labor Department report released yesterday showed that used car prices dropped 1.6% last month and that trend is expected to continue with a number of vehicles coming off lease in the near future. With all those cars being dumped into the used market, it will drive prices down and make them much more cost competitive for car buyers. That’s great for consumers but it has automakers concerned it will lead to fewer new car sales.

RENAULT FIRES CEO 
Yesterday we reported that Renault wanted to oust its CEO Thierry Bollore and that’s what happened. The French automaker fired Bollore and replaced him with its Chief Financial Officer, Clotilde Delbos, on an interim basis. That makes her one of just a handful of female chief executives in the auto industry.

HYUNDAI & KIA REACH ENGINE SETTLEMENT
Over the last several years, Hyundai and Kia have been dealing with engine issues that can result in possible fires. The defects have led to 1.7 million vehicles being recalled in the U.S. and resulted in investigations by federal authorities. And now the automakers are setting aside nearly $760 million to pay for class action lawsuits and fixes for the engines. They will install software to monitor for engine failures as well as offering other compensation. Nearly 4.2 million Hyundai and Kia vehicles powered by its Theta II direct injection gasoline engines are involved in the settlement.

FORD & HOLORIDE PARTNER ON IN-CAR VR EXPERIENCE 
Holoride announced it teamed up with Ford and Universal Pictures to show off in-vehicle VR and augmented reality tech at the showing of “Bride of Frankenstein.” In-car entertainment hasn’t changed all that much over the years, but the German startup says this is a step towards the future. Audi and holoride debuted this technology at CES in January, and now Ford is supplying a 2020 Explorer for the off-stage event, which will adapt and move to the scenes in the story creating an immersive experience. The event is being held at the Universal CityWalk in Hollywood this month, and goes past Halloween.

PORSCHE & BOEING TO DEVELOP VTOL
Every time we mention urban air mobility solutions, our comments section lights up with people saying this is only going to be affordable to the rich. Since Porsche already caters to that market, it’s teaming up with Boeing to study the market potential for premium urban air travel. The two companies are developing an electric VTOL concept and will test a prototype. Porsche did a study last year that forecasts the urban air mobility market will start to pick up after 2025.

CORVETTE C8.R POWERTRAIN DETAILS
Last week, Chevy revealed the racing version of the new mid-engine Corvette called the C8.R. And now it’s sharing more details. It’s powered by a 5.5L naturally aspirated V8, that cranks out 500 horsepower and 480 lb-ft. of torque. It’s mated to a new Xtrac six-speed sequential transmission. It also features a modified chassis to meet race requirements. The C8.R will make its debut at the 24 Hours of Daytona in January.

TOYOTA’S LQ CONCEPT PERSONALIZES AUTONOMY
Toyota unveiled its LQ autonomous concept car, which is the updated Concept-i from 2017. The LQ uses onboard AI called “Yui” which learns through the driver’s interactions with the system. The Toyota Research Institute partners the LQ and Yui together to strengthen the physical and emotional bond between the car and its driver. The LQ will be on display at the Tokyo auto show near the end of October, and Toyota will be doing specialized test drives from June through September of 2020.

TOYOTA MIRAI GETS SLEEKER STYLING
The first-generation Toyota Mirai certainly has polarizing styling, but the next-generation will be a lot sleeker, judging by this concept that will debut at the Tokyo auto show. The sedan is a final-stage concept model, so it looks pretty production ready and won’t change much. It’s built on Toyota’s rear-drive TNGA platform. Improvements to the fuel cell system and increased hydrogen storage capacity will increase the Mirai’s driving range 30%. Toyota also says the vehicle will have improved acceleration and performance. The interior features swooping accent lines and a 12.3-inch center display screen. The next-gen Mirai is scheduled to launch late next year.

TOYOTA RAV4 PLUG-IN DEBUTING AT LA AUTO SHOW
In other Toyota news, it will debut a plug-in hybrid version of the RAV4 at the LA Auto Show in November. No details were shared other than it will be the most-powerful RAV4 ever and have “surprising performance capabilities.”

And a programming note. The Autoline crew is taking the day off on Monday, so there won’t be a new Autoline Daily. But we’ll be back on Tuesday with the latest news in the global automotive industry. Thanks for watching and have a great weekend.