Data and News

Prices Up, Incentives Down?

After three months of declines, new-vehicle prices increased in April, according to Kelley Blue Book estimates.

• April Increase: New-vehicle average transaction prices (ATP) rose by 2.2% to $48,510, the highest since December 2023.
• Incentives: Fell to 6.3% of ATP, down from 6.6% in March, but 80% higher year over year.
• Tesla Prices: Stabilized and rose by 5.7% month over month, but remained over 3% lower year over year.
• Inventory Levels: Increased by 46% year over year, maintaining downward pressure on prices.
• Luxury Vehicles: Accounted for 18.4% of new-vehicle sales, with prices up 2.4% month over month but down 2.1% year over year.
• Non-Luxury Vehicles: Prices increased to $44,989, up 2.1% from March but nearly flat year over year.
• Pickup Trucks: Notably higher prices, with full-size pickups averaging $66,631, up 2.8% year over year.
• Electric Vehicles: Prices were flat at $55,252, down 8.5% year over year. High-profile EVs like the Ford Lightning and Tesla Model Y saw significant price reductions.
• Expert Insight: Erin Keating of Cox Automotive noted the price increase is likely due to reduced incentives post-Q1, but affordability challenges persist.

Waymo has 17 Wrecks

U.S. auto safety regulators have launched an investigation into Alphabet's Waymo self-driving vehicles due to reports of "unexpected behavior" and traffic safety violations.

The probe follows 22 incidents, including 17 collisions, involving Waymo's estimated 444 autonomous vehicles. NHTSA aims to assess the performance of Waymo's 5th Generation automated driving system, focusing on its response to traffic control devices and avoidance of collisions.

Hey, after 17 wrecks, we took Grandpa’s keys away.

Waymo maintains its commitment to safety, noting its extensive record of autonomous miles driven. This investigation follows similar probes into GM’s Cruise and Amazon's Zoox.

Tesla Goes Back To Court

Yeah like Jordan in his prime, Tesla is going back to court. 🏀

Tesla is being sued over air pollution at its Fremont, California, factory, and it is alleged that it violated the Clean Air Act.

• Plaintiff: Environmental Democracy Project
• Accusations: Ongoing failure to comply with the Clean Air Act; violations since January 2021.
• Pollutants: Emissions include nitrogen oxides, arsenic, and cadmium.
• Bay Area Air Quality Management District: 112 violation notices since 2019.
• EPA Fine: $275,000 in 2022 for emission tracking failures.
• Other Lawsuits: 25 California counties on hazardous waste; settled earlier this year.
• CEO Elon Musk: Focus on autonomy and AI over environmental issues.

Not to heap on the rough news, but... Data show Tesla's Full Self-Driving trial saw only 2% of users purchasing it despite a price cut from $12,000 to $8,000 or $99/month.

--

That's the Biz for today, friend. With day one of ASOTU CON content ahead of us, we will drop you some front-row content in tomorrow's email, along with the usual market digest we always gather.