AD #3143 – Cost of Ownership Going Up; Genesis Reveals Its First EV; BYD Now Worth More Than Daimler & GM

August 19th, 2021 at 11:48am

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Listen to “AD #3143 – Cost of Ownership Going Up; Genesis Reveals Its First EV; BYD Now Worth More Than Daimler and GM” on Spreaker.

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Runtime: 10:19

0:07 Automakers Continue to Deal with Chip Shortage
0:42 NHTSA Considers Raising Fuel Economy Fines
1:37 Cost of Ownership Going Up
3:18 Kia Bringing Sorento PHEV to the U.S.
4:13 Mercedes All-Terrain Adds Height to C-Class Wagon
4:57 GV60 is Genesis’ First EV
6:49 Magna Develops Illuminated Grille for EVs
7:35 BYD Now Worth More Than Daimler & GM
9:01 Another Mystery Car Challenge

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42 Comments to “AD #3143 – Cost of Ownership Going Up; Genesis Reveals Its First EV; BYD Now Worth More Than Daimler & GM”

  1. Rey Says:

    BYD is worth more than GM and Daimler ,because it is all about batteries and the future of BEVs and stationary storage, Tesla / TSLA investors could have told the commenters here, but their ears and eyes are close
    The company who develops and mass produces the cheapest batteries will rule the Energy and Transportation world.

  2. Lex Says:

    I predict within ten years Magna will become it’s own Automaker. Ford will become a part of the VW Group and GM will be taken over by a Chinese automaker.

  3. Lambo2015 Says:

    1 As a frequent commenter here I find it a bit offensive to assume our eyes and ears are closed to the very obvious fact that a “better battery” is going to be worth its weight in gold. Many posters here have said many times that whoever develops a better battery is going to be a very rich person or company.
    But thanks for stating the obvious in a backhanded manner.

  4. Rey Says:

    # 2 let, dont say that! You’ll have the Detroit fans here in AD come at you with pitchforks !

  5. Lambo2015 Says:

    Sean; GM just announced today that its Lansing Delta plant will also be down for a few more weeks. Projected start-up date 9/7.

  6. Rey Says:

    #3 , must kind of hurt when a .Chinese Auto maker we hardly knew about 10 short years ago is worth more than Daimler,a European giant and a Detroit giant.Dont worry Detroit will recover eventually, maybe with the help of the Chinese.

  7. MrN Says:

    Ginnettas!

  8. Kit Gerhart Says:

    Apparently bastardized wagons are becomming “a thing” in Europe too, with M-B doing an Outback treatment on the C-Class wagon.

  9. GM Veteran Says:

    6 Why would that hurt? BYD is bigger than Tesla in sales and profits, but not stock price. Confusing a high stock price with the success of a company is a fools errand. Look no further than AMC Theatres and GameStop.

  10. Rey Says:

    #9 last time i looked there hasn’t been a successful Auto company started in the USA,in the last 70 years, and Tesla was started a scant 15 years ago and IPOed ten years ago and is now the most valued company making autos on the planet, it also IPOed during the great reccession, when giants like Chryco and GM and Ford came begging the US govt for a handout,quite a success might I say.

  11. George Camp Says:

    Mystery car is an Australian 1962 JWF GT Mk I.

  12. George Camp Says:

    In my rush to submit, I left out that it’s a Milano GT! Sorry!

  13. cwolf Says:

    7) don’t think its an Ginnetta. Windows too rounded and other things. Not a Griffith either for same reasons, but close.

  14. Albemarle Says:

    8. Didn’t VW, Audi and Volvo also make an Outback-style lifted station wagon?

  15. cwolf Says:

    The car logo is one I haven’t seen before. It has a cross on the one side, like fiat, but the is shaped like a shield?

  16. XA351GT Says:

    Depreciation only matters if you constantly turn over a vehicle. For someone like me ,who basically buys a vehicle for it’s full life span my depreciation very very small. Most vehicles that I own have lasted 20 years and had very little in major repair costs because I do all the routine maintenance myself. So for the price of parts I get away fairly cheap. Example my current car a 2010 Fusion Sport , I’ve owned for 4 years . I bought it with 77K and have added 50K since then . The only non-routine maintenance item I’ve had to do was a coil pack.Did the work myself and saved a ton on the labor. If all you do is buy a car add gas and drive the hell out of it then yes the maintenance costs my get bad.

  17. XA351GT Says:

    New vehicle or not you will still have to pay for gas, tires etc.

  18. Lambo2015 Says:

    10 Does being an antagonist come naturally for you or did you have to work at it? No one here really wants to argue with you dude. There are plenty of sites you can join where you can sing the praises of Tesla and bash the other US manufacturers. People here generally bring respectful helpful informative comments. Just saying.

  19. Kit Gerhart Says:

    14 VW, Audi and Volvo have and/or currently make such things, but mainly, or only for the U.S. market. The lifted C wagon is apparently for the European market. I haven’t heard of any plans to sell in in North America.

  20. Kit Gerhart Says:

    14,19 M-B also made the E-Class wagon into a very expensive Outback, for the U.S. market.

  21. TS Piluso Says:

    Aston Martin DB4 GT Zagato

  22. Drew Says:

    @10 – Where do I start. Ford did not take the government bail-out. It fulfilled its financial obligations during the Great Recession by mortgaging the Ford logo and name. It then paid back that loan. It did not rinse away salaried retirement benefits.

    Wise investors do NOT equate market cap with company performance. Market cap is composed of several factors that are external to actual corporate performance.

    Finally and if I can speak for the many respectful and intelligent commentators here, the only anti BEV comments I’ve read relate to the need for faster charging times, more convenient access to such quick chargers, and concerns about our fragile energy grid/capacity. Most people here agree BEVs are now viable daily drivers for those households capable of overnight charging. But my 1400 mile (one way) winter migration and 180 mile (one way) visit to the grandkids are much better accomplished with an ICE or HEV.

  23. Rey Says:

    # 18 legacy auto and by extension their dealers cohorts are some of the most dishonest & despised entities I have come across with, it is about time they reformed , but I don’t think they ever will,the day dealers go out of BZNZ can’t come soon enough.

  24. Rey Says:

    #22 Ford didn’t take a bailout, I know that,but they still have to fully pay back that AVTM loan, as of last year.
    It is only recently , like in the past two or three years that AD and many of its guests that are linked or are OEM suppliers that are now coming around to BEVs, i have watched AD for years maybe going back to 2015 or earlier.

  25. Drew Says:

    24 – A well-run company pays higher rate loans before lower rate loans. And several other OEMs secured the same loan (e.g., Nissan). Low rate financing is a better government incentive program than hand-outs like tax credits (or the CO2 scheme that Elon exploits). With tax credits, the tax payer isn’t subsidizing other people’s behavior.

  26. Lambo2015 Says:

    18 I fully expect Dealers to become service centers where you can have warranty work conducted and pick up your vehicle. Shopping on-line is the future and the Dealers association can put up a good fight for a while but in-person sales is a dying facet of many sales. The cars come to the dealership ready to roll and dealer prep is now a car wash, protective plastic removal and if your lucky a full tank of gas. Oh they may have to put the floor mats in from the trunk area. So I would expect it to stick around for the higher end vehicles like Cadillac, Lincoln on up. So consumers still feel like they are getting something more for their money even if the actual sale is still conducted on-line. Sales people will be replaced with vehicle concierges.

    As for them being dishonest yea for sure in days gone by, but I think more recently at least new car sales are honest and have tried to improve their image. However anytime a product has a floating price tag that is dependant on incentives, rebates, dealerships desire to move product as well as overhead. The buyers ability/willingness to negotiate and other factors it can leave people with a bad taste when they find out someone else bought the same vehicle for thousands less. Also some people are clueless and don’t realize when they roll in negative equity from a trade in what they are actually doing. So not all the bad feelings are the sales guys fault.

  27. Lambo2015 Says:

    26 that was a response to 23 not 18

  28. Alex Borenstein Says:

    @2, you fervently wishing it will happen will not necessarily make it so.

  29. Rey Says:

    #25 drew, there is a long article in the Detroit Free press, , I think it says something like Fords was due to repay $600 million in 2020 or 2021 and final installment is $289 millions in year 2022.

  30. Albemarle Says:

    19. The VW Alltrack is still sold in Europe. They stopped selling in the U.S. as wagons are just not popular. Wouldn’t be surprised if the others are still being sold there.

  31. Sean Wagner Says:

    These cryptic car conundrums are great fun. There used to be so many boutique manufacturers – my hope is that we’ll see something of an E-naissance (harrumph).

  32. Kit Gerhart Says:

    30 The companies are turning off the few people who like wagons, such as myself, but turning their wagons into lifted plastic clad things for the U.S. market. The Audi and Volvo are still sold in the U.S., at least for 2021 model years, as is the E-Class Outback. Only Volvo is selling a regular version of their wagons in the U.S.

  33. Bobby T Says:

    #22: One slight correction. Ford did take away salaried medical benefits, and replaced it with a yearly stipend which covers some but not all costs.

  34. Drew Says:

    33 – Ford did not take away active salary benefits. They did reduce choices and capped the company contribution. Retiree medical benefits continue until the retiree reaches age 65, when they become eligible for Medicare, after which Ford provides a stipend that the retiree can use to purchase a Medicare gap or supplement plan. Overall, nothing Draconian.

  35. Kit Gerhart Says:

    33 What, if anything happened with Ford salary retiree benefits?

  36. Kit Gerhart Says:

    33,34,35 It looks like you were answering my question while I was asking it.

  37. Bobby T Says:

    35,Kit, no change to pensions. We were offered the opportunity to buy out our pension. Not sure how many did. Drew’s comments (#34) are correct. I retired in 2007 and was addressing only the retiree health benefits.

  38. Kit Gerhart Says:

    I retired from Delphi in 2001, and got the pension I expected, but lost my medical benefits, and lost the medigap I was promised. I came out better than younger people who retired a few years later.

  39. Carl Says:

    Saw a Kia TV ad last night. The new logo is awful. I’d be willing to bet that 9 out of 10 people could not decipher what the letter are or guess who the logo represents.

  40. Bobby T Says:

    39, I agree. Easy enough to see “Kia” if you see a car, but alone it’s hard to make out what it says.

  41. Kit Gerhart Says:

    39,40 Brands like Chevy and Mercedes-Benz have changed the geometry of their logos over the years, but they remain immediately recognizable. Cadillac made bigger changes, and while the logo is still recognizable as Cadillac, what’s the point? I like the ones with the ducks. With Kia, why, WHY would they do what they did? Maybe John can get someone for AAH who would have some insight.

  42. ChuckGrenci Says:

    39, I kind of agree; the new KIA, looks to me, to be KN. With time the change will be associated with KIA (proper), but who knows, it might change again.