Honda wants to sell more cars, automakers are down with tougher fuel economy standards and Faraday Future. All this and more in The morning shift for March 31, 2022.
1st gear: CPO
Honda announced on Thursday that it will sell 10-year-old certified used cars with no mileage limitations, which you’d be right to think. looks like a marketing gimmick. The problem is that “certified pre-owned” in the minds of most buyers usually indicates some basis of quality/warranty/mileage, regardless of manufacturer. That’s not what Honda does, however, to be fair, they don’t claim it’s a Certified Pre-Owned vehicle, in fact, they call the cars straight “Pre-Owned” instead.
Via Automotive News:
The expanded programs, called HondaTrue Used and Acura Precision Used, are designed to attract younger, budget-conscious buyers to dealer lots.
“We wanted to make our brand experience easier for new buyers,” Dan Rodriguez, head of automotive remarketing at American Honda, told Automotive News. “We really see this expansion as a key way to attract new customers to our brand – sort of a gateway product,”
Older Honda vehicles, which have no mileage limit, only carry a 100-day or 5,000-mile manufacturer’s warranty. This is significantly less than the seven-year/100,000-mile powertrain coverage provided on HondaTrue Certified+ and Certified vehicles, which together cover lightly used current model year vehicles, as well as Hondas 2-5 years.
On the Acura side, Precision Used vehicles come with a six-month/7,500-mile warranty.
Certified Acura Precision vehicles up to six years or 80,000 miles in age receive the same 7-year/100,000-mile powertrain coverage.
A 100 day warranty is more or less useless unless you have a real lemon so I don’t think it’s much different from the status quo which is just going to a dealership and buying an old car , although Honda PR has my email and is free to correct me if I’m wrong. Now here are Honda’s CPO programs, elucidated by Honda:
Note: HondaTrue Certified also includes the 3 day/300 mile redemption, but my screen couldn’t fit it into the screenshot.
In any case, it’s apparently an effort to better compete with the Carvanas and CarMaxes of the world, or at least put new polish on old inventory in what is a very tight auto market in the United States
There’s nothing wrong with buying an old Honda with a shitty dealership warranty, of course. JGet a pre-purchase inspection from an independent mechanic first, whether or not they have Honda’s stupid new designation.
2nd gear: automakers back tougher fuel efficiency standards
A trade group representing most major automakers said in court papers it agreed to tougher fuel efficiency standards, according to the Wall Street Journal, because automakers fight these things tooth and nail until they don’t and surrender. The court filing came as part of a lawsuit brought by Texas and a dozen other states, which are crazy about the stricter rules.
The Automotive Innovation Alliance, the leading lobby group for automakers and suppliers, has petitioned the United States Court of Appeals in Washington, DC, to join the United States Privacy Agency the environment to defend the stricter standards against a legal challenge.
Those rules, finalized by the agency in December, set tougher exhaust emissions and fuel efficiency standards for automakers from the 2023 model year.
Lawyers from the Alliance for Automotive Innovation will advocate for the standards.
“The rule is tough and aggressive,” group chairman John Bozzella said in a statement. “The country needs a range of supportive policies and other tools in place to accelerate the shift to electric vehicles and improve American competitiveness.”
Group members include General Motors Co., Ford Motor Co. and Stellantis NV.
An easy win here would be for automakers to say they’re trying to save the world, but instead say it’s about American competitiveness. Sad.
3rd gear: the Insurance Institute for Highway Safety says seat belt reminders in cars are bad
The IIHS says only some Subarus have “good” seat belt reminders, as part of a new test it is doing. The rest is bad. By Automotive News:
The IIHS reviewed the effectiveness of seatbelt alerts and gave ratings of “good,” “acceptable,” “marginal” or “poor,” the organization said Thursday. He assessed the volume, duration and timing of alerts.
To receive a “good” rating, a vehicle must generate a loud signal and visual alert that lasts at least 90 seconds when a front row person is unbuckled and at least 30 seconds when a second row seat belt is unbuckled. previously buckled comes off.
The IIHS said only the Subaru Ascent and Subaru Forester earned a “good” rating.
The report says 12 of 26 vehicles received a “poor” rating: Audi Q3, Buick Encore, Chevrolet Equinox, Chevrolet Traverse, Ford Escape, Ford Explorer, Honda CR-V, Honda HR -V, the Honda Pilot, the Mitsubishi Eclipse Cross. , Volkswagen Atlas and Volvo XC40.
Almost all of these vehicles failed to meet duration or sound level requirements, with alerts lasting less than eight seconds or just 1 decibel above ambient noise in the vehicle, the IIHS said.
Seat belt use is one of the truly profound changes I have witnessed in my 37 years on this planet. When I was a kid, not wearing your seatbelt was a sign that you were kind of a badass. We have all decided since not to do so is the height of stupidity.
4th gear: the Securities and Exchange Commission subpoenas the future leaders of Faraday
Faraday Future is, on paper, a car company, although it never really made a car for production, and for years we don’t know why it still exists, although it is still written by news outlets, as it still exists. Anyway, Reuters said on Thursday that some Faraday executives have been subpoenaed by the SEC, of course.
The U.S. Securities and Exchange Commission has subpoenaed certain members of Faraday Future Intelligent Electric Inc’s (FFIE.O) management team in an investigation into misrepresentations made to its investors, it said. Thursday the startup EV.
An internal review in February identified some inaccurate statements and the company cut the base salaries of its chief executive Carsten Breitfield and founder Jia Yueting, asking them to report to new executive chairman Susan Swenson.
The review by a special committee formed in November, however, rejected claims by a short seller who called the startup “a new electric vehicle scam in town”, saying they were not supported by the evidence reviewed.
The startup said Thursday that it will not meet the deadline for filing its 2021 annual report due to delays caused by the internal investigation. It had previously delayed filing its quarterly report in November.
There was a PR guy I once met at a major manufacturer who won’t be named who told me he was going to quit his nice, easy, stable PR job for a PR job public with Faraday, then he did and that gig lasted less than a year and it was about the least surprising thing in the world.
5th Gear: Joe Biden likely to invoke Korean War-era law for battery production
There is not much to add this Bloomberg report apart from that if you are a shareholder of MP Materials Corp, then you have a good day.
The White House is discussing adding battery materials to the list of items covered by the Defense Production Act of 1950 – the same authority exercised by Harry Truman to make steel for the Korean War and Donald Trump to boost the production of masks to fight the coronavirus pandemic – the people mentioned. They asked not to be identified as details are not yet public.
Shares of MP Materials Corp., the only U.S. company that produces rare-earth metals needed for electric vehicles, and Lithium Americas Corp., which runs a project in Nevada, jumped on news of the administration’s plans. Piedmont Lithium Inc., which operates a project in North Carolina, erased the losses, increasing to 6%.
Adding minerals like lithium, nickel, graphite, cobalt and manganese to the list could help mining companies access $750 million under the Defense Production Act Title III fund , the people said. The move could also make it easier to recycle battery materials, one of the people said.
Instead of loans or direct purchases of minerals, the directive would fund the production of current operations, productivity and safety improvements and feasibility studies, the person said. In addition to EV batteries, the directive would also apply to large capacity batteries.
The decision to invoke the DPA, which could come as early as Thursday, is not final and the timing could change, according to one of the people.
Reverse: USS Missouri decommissioned
Missouri was the site of the Japanese surrender in 1945. It was decommissioned on this day in 1992.
Neutral: How are you?
A friend told me she recently fixed a crack in her windshield and the store also suggested she replace her windshield wipers for $60 to “protect her investment,” and I had a good laugh.