Monday: That Time Again

Flying into the Future

No matter how hard we try, we can only live in the present. The future comes as close as a hair's width, but upon contact, it is suddenly and irrevocably converted into the present. Unless you're Xpeng AeroHT, then you are literally living in the future where flying cars are real.

The Chinese EV company says they will begin taking pre-orders for their Land Aircraft Carrier later this year with plans for delivery in 2026.

The Land Aircraft Carrier itself is less of a flying car and more of an almost-cybertruck with an escape hover-craft. The all-electric off-road EV has a built-in two-seat personal drone-type vehicle that can be deployed from the back of the vehicle.

What a time to be alive.

Wholesale May

Cox Automotive data shows wholesale used-vehicle prices increased in the first half of May. What does that mean for the 2nd half? Almost anything. Let's check out the details.

• Wholesale Used-Vehicle Prices: Increased 0.3% from April in the first half of May 2024.
• Manheim Used Vehicle Value Index: Rose to 199.1, down 11.3% from May 2023.
• Price Changes: Unadjusted prices declined 0.3% from April 10.6% year over year.
• Market Trends: MMR prices for three-year-old vehicles decreased 0.9% in early May.
• Conversion Rates: Average daily sales conversion at 59.3%, slightly up from April 2024.
• Segment Performance: Pickup and luxury vehicles outperformed, while SUVs, midsize, and compact cars declined more significantly.
• EV vs Non-EV: EV prices are down 15.2% year over year; non-EVs are down 10.8%.
• Wholesale Supply: Flat at 25 days as of May 15, slightly up year over year.
• Rental Risk Units: Prices declined 13.5% year over year; average mileage down 2%.
• Consumer Sentiment: Dropped 12.7% in May to 67.4; buying conditions for vehicles worsened.

GM and LG Reach EV Settlement

GM and LG will pay out $150M to Chevy Bolt EV owners affected by defective batteries.

The wrong kind of 🔥 Back in 2015, GM released the Bolt as one of the pioneering EVs, but by 2020, fires led to a recall that replaced many batteries and issued a software fix to other vehicles. Owners who used either remedy before Dec 31, 2023, may receive up to $1,400.

Folks who jumped ship early by selling their Bolt or having their lease end will receive a $700 payment.

Honda: 18 Wheels of Love?

Recommended listening: Drive-By Truckers “18 Wheels of Love.” (Swear word warning)

Don't semi trucks seem like the perfect proving ground for alternative power sources? They rack up miles, are forced to park 8ish hours a night, and are driven by people who, like, SERIOUSLY love driving.

Honda has a hydrogen fuel cell Peterbilt concept truck that could reinvent the way we rearrange nouns. (Taking people and things to places.)

We just read last week about Honda's massive $65B by 2030 investment toward electrification, so it seems the Japanese brand is coming out swinging after criticism of dragging its feet.

No specific timeline details are out for releasing the hydrogen semi-tech, but the concept alone is evidence we may get more big announcements from them soon.

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Lithium batteries = occasional dangerous fires.
Gasoline engines = constant controlled explosions (Occasional car-b-ques)
Hydrogen fuel cells = actually powered by an extremely flammable gas.

Seems fires are just part of this whole “going faster than horses can dream” part of human history.