TheDetroitBureau.com covers the top stories occurring in the auto industry in the latest edition of the Headlight News podcast. The weekly roundup includes news, features, reviews and more.
Publisher Paul A. Eisenstein reports that while automakers seem to be accounting for the shortage of semiconductors, which is also beginning to ease up a bit, they and consumers are now both being hit by a dearth of certain materials and products — specifically tires. In addition, to that issue,
- Tesla matched its record third quarter production with a new quarterly profit record during Q3 of this year. The company reported net income of $1.6 billion and operating margins of 14.6 percent;
- Toyota announced plans to spend $3.4 billion to build EV batteries in the U.S. while Stellantis revealed deals with two battery makers, LG Energy and Samsung SDI to produce EV batteries for the North American market;
- British luxury sports car maker Aston Martin revealed it expects 40% of its sales to come from BEVs by 2030;
- Ford’s run into snag with its new Maverick hybrid small pickup, delaying its arrival until January; and
- For those not ready to make the jump to battery electric, Chevy’s got just the thing: a new 1,000-horsepower crate motor to add a bit of life to that project vehicle in the do-it-yourselfer’s garage, plus plenty more.
Tesla followed big sales and production numbers for the third quarter with earnings numbers, according to Executive Editor Joe Szczesny. This week’s top story recounts the EV maker’s quarterly profit set a new record at $1.6 billion, which is four times better than the previous year’s results for the period. The new benchmark came despite the average sales price of a Tesla declining 6 percent and he explains why — and more.
Speaking of EVs, Publisher Eisenstein returns to review the Rivian R1T electric pickup truck. He takes note of the fit and finish of the new company’s first product that suggests it’s been around for decades — unlike its competitor, Tesla, which is still dealing with this issue. The new model offers an impressive mix power, style and functionality matched by basically, well, no other EV maker.
Managing Editor Michael Strong reveals this week will focus on Big Three earnings as GM, Ford and Stellantis all reveal what they made, which is expected to be much less than Q3 2020. Additionally, we’ll cover BrightDrop CEO Travis Katz’s appearance at the Automotive Press Association, where he’ll talk about how he ended up there and what’s going on at GM’s new subsidiary. However, there are two new vehicle intros to cover: the Mitsubishi Outlander PHEV and … the 2023 Chevrolet Corvette Z06.
Contributing Editor Larry Printz takes us back in history, noting that in this week in 1965, President Lyndon B. Johnson signed the Highway Beautification Act, limiting the number of billboards, junkyards and other less-than-appealing roadside items. Bullitt comes out just three year’s later in 1968, making its green fastback Mustang a part of pop culture history.
Find out more the industry’s history and more by listening to TheDetroitBureau’s latest edition of the Headlight News podcast by clicking here. And look for a new episode every Monday!