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It’s a power slide into Thursday as we’re celebrating the highest inventory levels in 3 years. Plus we talk about VinFast’s new pickup and how NASA is going back to the moon with private companies.
Show Notes with links:
- The U.S. new-vehicle inventory witnessed a significant surge in December, hitting a three-year high, while EVs are seeing the long-predicted slowdown, as reported by Cox Automotive.
- New-vehicle inventory in the U.S. rose by over 200,000 in December, reaching more than 2.7 million units, a substantial increase from the previous year and the highest levels in 3 years.
- The recovery in inventory levels represents a 71-day supply, a marked improvement from 2021's component shortages.
- EV inventories increased more rapidly than internal combustion vehicles, ending the year at a 113 days' supply compared to 69 days for combustion models.
- A total of 317K EVs were sold in Q4, compared with 313K in Q3, only a 1.3% increase.
- EVs constituted 7.6% of the U.S. market in 2023, up from 5.9% in 2022, with price remaining a significant hurdle; the average new EV cost is approximately $50,789.
- Cox Automotive predicts that EV growth may continue to slow, with a potential for the first quarter-over-quarter sales decline in over three years.
- EV manufacturer VinFast revealed a pickup concept at CES slated for a potential 2026 U.S. launch, alongside the VF 3 microcar, reinforcing its commitment to expanding its EV lineup in the American market.
- The VF Wild concept is a midsize pickup with a flexible bed that can be extended into the rear of the cab through a power-folding midgate and may be produced at VinFast's upcoming plant in North Carolina, highlighting the company's growing focus on the U.S. market.
- VinFast Chairwoman Le Thi Thu Thuy said the Wild is still only a concept and the design may change based on input from US dealers and others.
- VinFast also confirmed that the VF 3 microcar, a sub-$20,000 mini eSUV, will enter the market. Production of the VF 3 is expected to begin later this year.
- "We are providing a new companion for a generation of young drivers who value practicality alongside personality," said said Tran Mai Hoa, deputy CEO of sales and marketing for VinFast Global
- NASA is setting its sights on the moon with a series of Commercial Lunar Payload Services missions designed to build moon infrastructure through private companies.
- The first lander launched aboard a brand new rocket from United Launch Alliance, which is owned by Lockeed Martin and Boeing. The Vulcan rocket was successfully powered to orbit with engines built by Jeff Bezos’s space company, Blue Origin.
- Unfortunately, the Peregrine lander from Pittsburgh company Astrobotic, suffer
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