Cheers to Industry News

Toyota Takes Charge 🚗💨

Following the whirlwind of a potential 52 million airbag recalls, Toyota is stepping up while others are still twiddling their thumbs, issuing a recall for 1 million vehicles to fix a pesky airbag issue. The company is also offering buyouts to some of its North American employees.

• 🚘 Toyota's Turn: Amidst industry hesitation, Toyota recalls 1 million vehicles for faulty airbag sensors, showing responsibility where others dally.
• 🛠️ Model Mix-Up: The recall spans a variety of 2020 to 2022 Toyota and Lexus models, from the Avalon to the RX350 SUV, addressing potentially hazardous sensor issues.
• 🆓 Free Fix: Dealers are set to inspect and replace the offensive sensors at no cost, with customer notifications planned for mid-February 2024.
• 📉 Shares Shaken: Amidst the recall and a subsidiary scandal, Toyota's shares were hit, showing that even giants aren't immune to the tremors of trust issues.

Rolls-Royce's Ritzy Range 💸🚘

It's time to update our Christmas lists with something a bit heftier and more luxurious! The 2024 Rolls-Royce Spectre is flaunting its electric grandeur and making other EVs look like stocking stuffers.

• 🎄 List Update: Swapping out socks for the 2024 Rolls-Royce Spectre, boasting up to 291 miles of EPA range.
• 🏎️ Speedy Heavyweight: Despite its hefty 6,559 lbs, it sprints from 0 to 60 mph in just 4.4 seconds, blending luxury with lightning speed.
• 🔋 Powerful Battery Sibling: Shares a 102-kWh battery with the BMW i7, hinting at the familial ties beneath that opulent exterior.
• 💸 Pricy Presence: With a base price of $420,000 (plus dreams), it's a lavish leap from your average EV, ensuring your driveway dazzles.

Russia's “Tesla Killer” Electric Eyesore 🤢🚗

Russia's "Amber" EV is giving us a glimpse into a future no one asked for, while Tesla plays a not-so-fun game of blame tag with its customers over defective parts.

• 🐟 Fishy Design: The "Amber" EV, resembling a fish cosplaying as a bread van, is Russia's answer to a "Tesla killer," inciting a meme frenzy.
• 🛠️ Concept Woes: Despite its preliminary status, the Amber's design has been universally panned, suggesting even a Pentium III couldn't save it.
• 🚗 Tesla's Blame Game: Tesla's been systematically pinning part failures on drivers despite knowing the defects internally, according to a Reuters investigation.
• 🔄 Recall Reluctance: While issuing recalls in China, Tesla has avoided doing so in the US and Europe despite sharing the same defects.

US Sales Shift 📈🚘

Buckle up, dealers! The US car market's perking up from the pandemic pit stop with a modest uptick in new vehicle sales expected next year.

• 📈 Slight Sales Surge: Expect a 1% to 4% rise in US new vehicle sales, hitting around 15.6 million to 16.1 million units.
• 🌐 Global Gains: The US uptick is part of a larger trend, with a 2.8% global increase in auto sales forecast.
• 💸 Incentive Comeback: As inventory improves, automakers reintroduce incentives, signaling an end to the era of sky-high pricing.
• 📊 Forecaster's Figures: Forecasts range from 15.6 million (Cox Automotive) to 16.1 million (GlobalData) vehicles, with Edmunds predicting 15.7 million.

Hyundai's High-Voltage Horizon ⚡🏭

Hyundai Motor is getting with the times, ditching its dusty old parts plants for a sleek, electrified future. Here's the lowdown for the auto dealership aficionados:

• 🏭 Plant Closures: Hyundai will shut down two parts forging plants in Ulsan, South Korea, in 2023, waving goodbye to engine part production.
• 🚗 EV Shift: This move is part of Hyundai's aggressive pivot from petrol-powered cars to electric vehicles.
• 🌐 Global Stance: As the world's No.3 automaker, Hyundai's shift significantly impacts its global sales strategy, focusing more on electrification.
• 💰 Investment in EVs: A 2 trillion won investment in a new EV plant in South Korea marks Hyundai's commitment to an electric future.