AD #3434 – Corvette EV Coming in 2026; Toyota Reveals New EV; Honda Opens Battery Swapping Station for Motorcycles
October 25th, 2022 at 11:56am
Listen to “AD #3434 – Corvette EV Coming in 2026; Toyota Reveals New EV; Honda Opens Battery Swapping Station for Motorcycles” on Spreaker.
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Runtime: 10:23
0:00 GM Q3 Earnings Better Than Last Year
1:06 Corvette EV Coming in 2026
2:08 Tesla Won’t Get Approval For Unmanned Driving in 2022
3:19 Toyota Reveals New bZ3 for China
4:25 Toyota Crown Starts at $40,000
5:31 Honda Opens Battery Swapping Station for Motorcycles
6:43 Mercedes-AMG Comes Out with One Expensive C-Class
7:55 Ford Refreshed the Escape
9:34 Kia Stinger Production Ending Next Year
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GM Q3 EARNING BETTER THAN LAST YEAR
General Motors reported its third quarter earnings and they were substantially better than a year ago. Revenue came in at nearly $42 billion, which was $15 billion higher than last year. It posted an adjusted EBIT profit of nearly $4.2 billion and a net profit of $3.3 billion which was a 7.9% profit margin. Earlier this year GM had nearly 95,000 vehicles in inventory that it could not sell because they were missing computer chips. Now those vehicles are getting the chips they need which helped the company boost its top line. Also, in a letter to shareholders CEO Mary Barra says they’re going to boost production of the Bolt and Bolt EUV from 44,000 this year to 70,000 next year. She says in the third quarter GM captured over 8% of the U.S. EV segment.
CORVETTE EV COMING IN 2026
Speaking of GM, we all know that an electric Corvette is coming. Even GM’s top execs acknowledge that. But now we may know exactly when it’s coming out. Autoforecast Solutions reports that the Corvette EV will go into production in May of 2026, less than 4 years from now. But here’s the big surprise. It will not be built at the Corvette plant in Bowling Green, Kentucky. Autoforecast says it will be made at GM’s Grand River plant in Lansing, Michigan. Autoforecast says that plant will also make a large electric Buick SUV and a large electric Cadillac sedan. We fully expect the electric ‘Vette to be an SUV in a move to expand the brand. All this also suggests that GM will continue to make piston powered ‘Vettes at the same time it makes electric ones.
TESLA WON’T GET APPROVAL FOR UNMANNED DRIVING THIS YEAR
Tesla’s planned fleet of self-driving vehicles is going to have to wait a little longer. Elon Musk says it will not get the regulatory approval it needs to test vehicles without a driver this year. The automaker’s Full Self Driving or FSD Software is still just a Level 2 system that requires the driver to take over at certain times. Tesla is supposed to come out with an upgrade to FSD by the end of the year that will expand its capabilities. It will still require a human behind the wheel, but the driver won’t have to touch the controls as much.
TOYOTA REVEALS ALL-ELECTRIC bZ3 FOR CHINA
Toyota revealed the second model in its bZ lineup of all-electric vehicles, the bZ3. The sedan was co-developed with BYD and FAW and it will be produced by and sold through the Toyota FAW dealer network in China. The EV is powered by BYD’s Blade lithium-ion LFP batteries but Toyota did not reveal the capacity of the pack. It did say it has an estimated range of 600 kilometers or nearly 373 miles based on the Chinese Light Duty Test cycle. Toyota also claims the battery will retain 90% of its capacity after ten years. The company didn’t reveal too many other details about the bZ3, but it has a coefficient of drag of 0.218, is based on Toyota’s e-TNGA platform and the battery structure, cooling, control and safety monitoring systems were all newly designed for the car.
NEW TOYOTA CROWN STARTS AT $40,000
And Toyota is also revealing more details about the Crown sedan that’s replacing the Avalon in the U.S. It’s available in three trims and it’s offered with two hybrid setups. It comes standard with a 2.5L 4-cylinder that’s paired with two electric motors and an electronically controlled CVT, which gets an EPA-estimated 41 MPG combined. The other hybrid powertrain pairs two motors with a 2.4L turbocharged 4-cylinder that’s mated to a six-speed automatic. It has an EPA-estimated 30 MPG combined. The new model is also getting delayed. When Toyota first revealed it back in July, the company said it would arrive at dealerships by the end of the year. Now Toyota says it’s expected to arrive at dealerships early next year. The Crown starts just below $40,000 and the top Platinum trim starts at just over $52,000.
HONDA OPENS BATTERY SWAPPING STATION FOR MOTORCYCLES
Honda continues to expand its battery swapping business. The company already offers portable swappable batteries for motorcycles and other mobile products. And now it is making swapping stations for those batteries, with the first one beginning operation today in Japan. When a user wants to make a swap, they just have to tap a panel on the station with an authentication card and a LED display will indicate which battery is charged and good to use. Users make payments through the same system which is managed by Honda’s Power Pack Cloud system.
MERCEDES-AMG COMES OUT WITH ONE EXPENSIVE C-CLASS
Mercedes-AMG is adding what is essentially a cosmetic package to the highest performance 80,000 dollars plus version of the C-Class sedan. The F1 Edition of the C 63 S E PERFORMANCE comes with the same AMG-exclusive, in-house developed hybrid powertrain. A 2.0L turbocharged 4-cylinder engine is paired with an electric motor and high-performance battery mounted on the rear axle. Combined the system produces 500 kW or 680 horsepower and launches the car from 0-100 km/h in 3.4 seconds. The F1 Edition, which is available on both the sedan and wagon, features a unique alpine grey paint finish, an aero package that includes a larger front splitter and rear spoiler, 20-inch AMG wheels, black and red accents that are picked up on exterior and interior – even the carbon fiber parts use a red thread. No word on pricing but we bet it creeps up near $100-grand.
FORD UPDATES THE ESCAPE
Ford just updated the Escape. Besides some modest styling changes it now offers an optional 13.2-inch display screen, cloud-connected SYNC4 Technology and a new driver assist system with what Ford calls Intersection Assist, which will warn drivers of a potential collision while turning at an intersection. For the first time the Escape also gets the ST-Line trim. But remember this is not a real ST. It’s meant to give you the look of the ST without all the extra performance. But you’ll be easily able to spot the ST-Line models. They come with a monochromatic paint job and a large rear spoiler. Inside, there’s red stitching, and a flat bottom steering wheel. The ST-Line comes standard with a 180 horsepower 1.5 liter engine and there’s an optional 2-liter with 250 horsepower, and the hybrid powertrain is also offered on the ST line. But there is now a plug-in hybrid available for the non-ST models with a 2.5 liter Atkinson-cycle engine and 210 horsepower and 37 miles of electric range. Interestingly, there’s a Charge Mode where drivers can use the engine to recharge the battery while they drive so they can drive in electric mode later. The updated Escape will go on sale early next year. And remember the Escape is the same as the Kuga in Europe, so we’d expect to see the same changes.
KIA STINGER PRODUCTION ENDING NEXT YEAR
But while new cars are coming out, others are going away. Reports out of South Korea say Kia will stop producing the Stinger in April of next year. Despite a refresh in 2021, it only sold about 13,500 Stingers last year and less than half that so far this year. As of right now there’s no replacement in pipeline.
But that’s it for today, thanks for watching.
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Comments (33)
October 25th, 2022 at 12:11 pm
Forgot to mention the Corvette E-Ray hybrid with two electric motors driving the front wheels in combination with a 490-hp gasoline V-8 powering the rear wheels through today’s 8-speed DCT transaxle. This ‘electric’ Corvette will be a two-seat sports car and is expected well before the end of this decade.
October 25th, 2022 at 12:20 pm
Toyota releases the Crown just when it loses the sakes crown to GM this year!
October 25th, 2022 at 12:32 pm
Lots of bad news today from the “domestic two.” GM is going to call an electric truck a Corvette, and Ford is further downgrading the ST moniker. At least Corvette had a great, 70+ year run. As far as Ford STs, the last real one, at least in the US market, was the Focus, a sporty, yet practical and affordable car.
October 25th, 2022 at 12:32 pm
That refreshed Ford Edge looks very similar to the new Honda CR-V and HR-V.
October 25th, 2022 at 12:33 pm
The chip shortage plus covid has certainly distorted sales over the last few years. It will be interesting to see the sales figures change as the OEMs get their chip supply back on track. We’ll learn what vehicles people want rather than just what they can get.
October 25th, 2022 at 12:38 pm
Test
October 25th, 2022 at 12:42 pm
I’m not sure how I feel about the Corvette name being used to peddle an electric SUV. I guess if GM wants to spin off Corvette as a brand and have a series of vehicles that carry the badge, I would hope they are at least performance based and worthy of wearing the checkered flags.
I dont think the Mach-e has hurt Mustang sales or diluted the Mustang image. Maybe it will be a mute point with Corvette as well.
October 25th, 2022 at 12:48 pm
6 I commented on the Corvette electric truck, but my post didn’t show up.
October 25th, 2022 at 1:36 pm
6 – I was pondering the same thing. I think it would be better for Chevy to launch a high-performance crossover and call it something else. (They do have a cool catalog of names they have used in the past that they could recycle.) Let the vehicle establish its own credibility and then slowly use it to create a Corvette family of vehicles.
People that don’t care about the Corvette name and history will buy it if they like its styling, performance and pricing. The Corvette faithful won’t like it just as the Mustang faithful didn’t. Seems like a good idea to avoid any ill will among one of your most loyal owner groups. After its out for a few years and the concept of electric vehicles isn’t so controversial anymore, they can go ahead with their Corvette franchise idea.
October 25th, 2022 at 1:42 pm
Now that I think about it, no other brand that has launched a high-performance SUV has used an existing model name. Lamborghini, Porsche, Maserati, BMW, M-B, and soon even Ferrari have all decided to give their new performance SUVs their own model name. Just because it worked out OK for Ford with the Mach-E doesn’t mean it will for Chevy, especially four years from now. The Mach-E launched into a market hungry for EVs. That won’t be the same situation in four years.
October 25th, 2022 at 1:43 pm
@Kit – I just posted your comment
October 25th, 2022 at 1:49 pm
@Lex – I think the new Escape shares a family resemblance with the Mondeo and EVOS that are sold in China.
October 25th, 2022 at 1:50 pm
Porsche owners said the same thing when Cayenne was released. Today Porsche SUVs are it’s biggest sellers!
October 25th, 2022 at 1:52 pm
13 – Yes, but they didn’t call it the 911 SUV.
October 25th, 2022 at 1:58 pm
So, is any company going to build an EV withOUT a giant screen precariously attached to the dash? (Other than the Chevy Bolt and EUV)
And, if they are such a great idea, why aren’t they putting them into ICE vehicles? The biggest one I can think of is in the Ram pickup and its nicely integrated into the dash. I know there are some ICE vehicles with screens half buried in the dash and other such nonsense, but I can’t think of one that has a huge Tesla Tablet. I can’t think of a reason why an EV would need to have a bigger screen than an ICE vehicle. By now you can probably surmise that I am not a fan of these stupid giant tablets. Anyone else have an opinion on them, or of why they only seem to be in EVs?
October 25th, 2022 at 2:41 pm
15, I much more prefer an integrated screen (so I’m with you on that). I even think a huge square tablet that is ‘proud’ of the dash that intrudes into the passenger compartment might be marginally more dangerous in a wreck.
October 25th, 2022 at 2:45 pm
11 Thanks, John.
14 Exactly.
Chevy has some good “legacy” names they could use for the electric CUV that would appeal to older Corvette enthusiasts, rather than annoying them. How about Nomad? That is an historic name that would fit, especially if the machine is more wagony, and less trucky, as I’d think it might be.
October 25th, 2022 at 3:00 pm
10 I don’t know if the introduction of the Mach-E is the reason, but sales of real Mustang were down for 2021, while Challenger sales were up. Challenger outsold Mustang in 2021, and is on track to do so by a wider margin for 2022.
https://www.goodcarbadcar.net/ford-mustang-sales-figures/
October 25th, 2022 at 3:06 pm
Other possibilities:
Cheyenne, though this may now be seen as insensitive. Ditto for Apache.
K5, everyone seems enamored of alphanumerics these days, so they could revive this Blazer moniker as a model name
Viking, which was a medium duty name from the 60′s.
Heck, in four more years they could even recycle Avalanche, which does have a high-speed movement connotation.
Or reach into the car names, since its a crossover, and use Laguna, the higher performance level can be the Laguna Type S-3 (one of my favorites)
October 25th, 2022 at 3:07 pm
18 – Its all about the chips. Much bigger profits in F-150s compared to Mustangs
October 25th, 2022 at 3:12 pm
I like the name Nomad too. How about Laguna? The highest performance version could be called the Laguna Type S-3. I had a few others in a post that got lost in the system. Which is fine, since I doubt that Chevy executives are reading our posts for branding inspiration.
October 25th, 2022 at 3:13 pm
@19 Avalanche would be a great name if it is an autonomous vehicle
October 25th, 2022 at 3:17 pm
20 That could be, at least partly, but Dodge makes bigger profits with Ram pickups than with Challengers, except for the low volume “specialty” Challenger variants, but Challenger numbers were up a little in 2021.
https://www.goodcarbadcar.net/dodge-challenger-sales-figures/
We’ll probably never know how Mustang fares compared to the competitors after the chip shortage is over, because by that time, both Challenger and Camaro will be gone.
October 25th, 2022 at 3:22 pm
Bel Air was a good name for Chevy in times past, but would probably be a better fit for a sedan than a crossover.
October 25th, 2022 at 3:38 pm
Great show/great comments
October 25th, 2022 at 3:39 pm
GM must have hundreds of old names available, from Pontiac, Olds and Saturn too. I doubt there’s much residual recognition except amongst car nuts.
October 25th, 2022 at 3:40 pm
26.I would suggest not using Aztek for a century or two…
October 25th, 2022 at 3:52 pm
Maybe GM will stick with the aquatic theme for the Corvette Brand. Leaving Stingray for the 2 door sportscar and Maybe something like Mako, Marlin or swordfish for the others. Those are fast fish. Too bad Barracuda is taken. I’d prefer that over the alphanumeric although probably have to keep the ZO6.
October 25th, 2022 at 3:52 pm
26,27 Agreed, and they need to stay away from Chevette as well. I do like Nomad, and it makes sense for a SUV.
October 25th, 2022 at 3:53 pm
#15.) Current models of the F-150, Edge, Nautilis and the new Explorer and Aviator have big tough infotainment screens. They’re not embedded in the dash like the Ram’s, though. My sister has one in her brand new F150, and it looks like a high definition TV! I like them, but I can appreciate that others don’t. What I think is interesting, though, in the case of the Mercedes hyper screen, I think it’s cool that now the front seat passenger has a screen that they can take it vantage of. Most times when I’m in the car with someone, I’m the driver. But when it comes to changing the radio station or adjusting the HVAC, it’s put on the driver to do most of those things, even though the front seat passenger is sitting right there! Now the passenger has something that they can take vantage of, to occupy them in the car, other than just watching scenery go bye! I think it will still fall to the driver, to adjust the radio dial and keep the vehicle interior comfortable for passengers, though. LOL
Regarding a Corvette BEV, at least Ford gave their EV Mustang the air make of the Mach-E. It was just the Mustang electric SUV! IMHO, like many here, I think they should follow that of other brands and give it Corvette stylings, but a different name if it will be anything then door sports coupe. If it will be a four door coupe, maybe they can call it the Chevy Corvette Beretta or Corsica?
October 25th, 2022 at 4:36 pm
27,29. They should also pass on Vega.
October 25th, 2022 at 6:16 pm
Maybe GM is doing the right thing to call the upcoming lifted electric 5-door hatch a Corvette. Maybe they have checked the demographics of current Corvette owners, and figure that the older Corvette enthusiasts like myself have bought their last Corvette, and they need to move to a different demographic. Sad to some of us, but maybe it will work to sell those lifted electric 5-door hatches. It might seriously hurt sales of real Corvettes, though. I guess time will tell.
October 26th, 2022 at 8:53 am
Chevette would have been a good name if not for the actual Chevette. Maybe they should name the 4WD SUV the Armyvette. Or if it’s made outside the US. they could call it the Notyetvette. The dark black special edition 70′s tribute “Velvet”.
Certainly, something owners can Covet.