AUTO CENTRAL CHICAGO June 13, 2021 Every Sunday Larry Nutson, The Chicago Car Guy and Executive Producer, with able assistance from senior editor Thom Cannell from The Auto Channel Michigan Bureau, compile The Auto Channel’s
“take” on this past week’s automotive news, condensed into easy to digest news Nuggets.
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Nutson’s Automotive News Wrap-up – Week Ending June 12, 2021; Below are the past week’s important, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as expertly crafted easy to digest news nuggets.
* The auto industry entered June with historically low inventories of unsold new vehicles due to continued strong sales and further production disruptions caused mostly by the global computer chip shortage, according to a Cox Automotive analysis. The total U.S. supply of available unsold new vehicles stood at 1.78 million units–about 35 day supply– as the end of May approached, down from 2.24 million at the same time in April. Supply has been trending lower since mid-December. Interestingly, cars of all size and prices had higher than average inventories and are becoming the choice of some utility vehicle shoppers.
* According to recent research from leading digital automotive marketplace Cars.com, nearly 10% of recent car buyers drove out of state to purchase their desired vehicle, with more than half (52%) of those traveling 25 miles, nearly 20% traveling 50 miles and 13% of buyers traveling more than 250 miles to a dealership due to ongoing new- and used-car inventory shortages. Shoppers are traveling the farthest distance for Chevrolet, Ford and Toyota car brands. Shoppers expanding their search radius should include larger cities because they have more inventory than their rural counterparts.
* Ford took the wraps off the all-new Maverick compact pickup with a starting price of $19,995 MSRP. The all-new Ford Maverick is the first standard full-hybrid pickup in America and the most fuel-efficient truck on the market with a targeted EPA-estimated rating of 40 mpg in the city. It’ll be popular in cities and will be coming soon to your high school student parking lot. It’s also Ford’s lowest price vehicle.
* Startup commercial electric vehicle maker Lordstown Motors says it may not be in business a year from now as it tries to secure funding to start full production of an electric pickup truck. In a quarterly regulatory filing, Lordstown said the $587 million it had on hand as of March 31 isn’t enough to start commercial production and begin selling the full-size pickup, called the Endurance.
* The AP reported that if the auto industry is to succeed in its bet that electric vehicles will soon dominate the roads, it will need to overcome a big reason why many people are still avoiding them: fear of running out of juice between Point A and Point B. Automakers have sought to quell those concerns by developing EVs that go farther per charge and fill up faster. Problem is, most public charging stations now fill cars much too slowly, requiring hours — not minutes — to provide enough electricity for an extended trip. Concerned that such prolonged waits could turn away potential EV buyers and keep them stuck on gas-burning vehicles, automakers are trying to cut charging times to something close to the five or 10 minutes of a…