Cruise Driverless Vehicles in San Francisco Suspended by California DMV “Effective Immediately.” Waymo Can Continue to Operate Robotaxis by Wolf Richter • Oct 24, 2023 • 120 Comments “Not safe for the public’s operation.”
Subprime Auto-Loan Delinquencies Hit Record, Prime Loans Are Pristine, after Easy Money Ends: The High-Risk High-Profit Business of Subprime Auto Lending by Wolf Richter • Oct 22, 2023 • 110 Comments What makes it work: Securitizing subprime auto loans and selling the Asset-Backed Securities to yield-hungry investors.
Our Experience with the Collapse of the Dollar’s Purchasing Power for Used Cars, Auto Insurance, Repair Costs, Rental Cars by Wolf Richter • Oct 9, 2023 • 260 Comments Or why auto insurance has gotten so ridiculously expensive — after used vehicles have gotten so ridiculously expensive.
New Vehicle Sales +20% in Q3 YoY. Pent-Up Demand Comes Home to Roost. Our Drunken Sailors in No Mood for a Recession by Wolf Richter • Oct 4, 2023 • 143 Comments Average listing price rose 2.2% to $47,417. The strikes, if they drag on, could squeeze inventories, which would pressure prices again.
EV Demand Not Sagging or Whatever: Rivian Deliveries +136% YoY, Tesla +27% YoY despite Factory Downtime for Upgrades by Wolf Richter • Oct 2, 2023 • 152 Comments And the “103 days’ supply of EVs” is BS because it doesn’t include Tesla, Rivian, and Polestar, with 65% of US EV sales.
Tesla Price Cuts, Followed by other Automakers, Plus Surging Incentives, Hit Average Transaction Prices, after Toxic Spike by Wolf Richter • Sep 12, 2023 • 145 Comments Detroit automakers hugely overstocked, ready for a strike.
EV Maker VinFast’s Market Cap Spikes to $159 Billion on 9th Day of Trading. This Stuff Would Be Hilarious if it Weren’t so Serious by Wolf Richter • Aug 25, 2023 • 121 Comments As an extra special for VinFast, I’m keeping a beautiful slot open in my increasingly packed pantheon of Imploded Stocks.
Full Commercialization of Robotaxis Arrives in San Francisco by Wolf Richter • Aug 11, 2023 • 278 Comments Not everyone is happy.
The Collapse of the EV SPACs: Another One Goes Bankrupt, Others on the Verge by Wolf Richter • Aug 9, 2023 • 146 Comments The SPAC boom will surely go down in history as one of the biggest stock-market heists ever, made possible by Consensual Hallucination.
Used-Vehicle Wholesale Prices Sagged to Where They’d Been 2 Years Ago, But Are Still High. Where Will They Go? Automakers’ Finance Companies Placed their Bets by Wolf Richter • Aug 8, 2023 • 90 Comments They have to set residual values for three-year leases. And it’s risk off.
