September 1, 2015
No S660 Convertible for U.S., But Honda Has Some Sporty Ideas
Bad news for fans of Honda's bite-sized S660 convertible, available in Japan: Don't expect it in the U.S., according to John Mendel, executive vice president of American Honda. "I wouldn't put my chips on that," Mendel told Automotive News, countering speculation that Honda was considering bringing the tidy two-seater – which is nearly 2 feet shorter than the Mazda MX-5 Miata – to the U.S. Click here to see it. "When the practicalities of the market come in, and the car only so big, that might not be the best car for the U.S. market," Mendel said. But that doesn't mean Honda doesn't have some fun up its sleeve. Honda filed patent drawings this year for a midengine model, and a full-scale exterior design study very similar to the drawings was on display at Honda's opening of its Silicon Valley r&d lab in July. So is this a successor to the S2000 roadster or a bigger-budget, slightly detuned NSX? Mendel wouldn't say, but he acknowledged that dealers are asking for both. "They want anything in the sports car world," Mendel said. "They're going, 'Gimme a sports car.' They want a retractable hard top; they want a high-horsepower $20,000 sports car. Because that's the nature of what they do." For more on Honda’s sporty plans, click here.
Study Ranks Best and Worst States for Drivers
The nation's top potato-producing state is also the most preferable place for peeling out. Yes, according to a just-released study by finance rate aggregator Bankrate.com, the Gem State is the crown jewel among the best states for drivers. Researchers ranked all 50 states for their driver friendliness, measured by factors including the number of fatal crashes and car thefts, average commute times, gas prices, repair costs and auto-insurance premiums. Cars.com reports that Idaho rose to the top of the heap thanks to its low gas and insurance costs, below-average theft rates, and brisk commute times. Compared with the national average commute of 24.4 minutes each way, insurance premiums of $910.17 per year, gas spending of $949 per year, repair costs of $390.38 per job, 220.7 car thefts per 100,000 people and 1.1 fatal crashes per 100 million miles driven, Idaho boasted a 19.5-minute commute, $656.08 insurance premium, $733.06 gas expenditure, $378.66 repair bill, 95.3 car thefts and 1.3 fatal crashes. The dubious distinction of least-driver-friendly state goes to Louisiana, which researchers dinged for having the highest car insurance costs in the U.S. as well as above-average crash fatalities. To see where your state ranks, click here.
The 2016 Model A? Automakers Rescuing Retired Brands From Scrap Heap
Coming up with an all-new name has become a major headache for automakers around the world. It can be difficult to find a name that hasn't already been taken, and it then can be extremely costly to build consumer awareness for a new moniker. So a number of carmakers are looking back into their past to see if there are once-popular nameplates that can be revived. And after the successful revival of the Chevrolet Camaro a few years back, it appears even more manufacturers are going to take this route. According to NBC, among the once-popular names we may soon see back in showrooms are the Grand Wagoneer, Barracuda, Ranger, and Bronco. There are several reasons why manufacturers reach into their histories to revive old nameplates. For one thing, it is becoming increasingly difficult to come up with good names that aren't already in use or at least registered by a competitor. In addition, a mainstream model often requires a marketing investment of $100 million or more to establish it. But when it comes to these blasts from the past, some of those old model names still carry a lot of positive heritage that automatically tells a story in the collective public mind. For the full story on name retreads, click here.
25 Cars Worth Waiting For: 2016-2019
Each forthcoming car, truck, and SUV is an as-yet-unrealized promise, but none emerges wholly from the ether. Clean sheets of paper are found at Staples not car companies, whose planners juggle plants, partnerships, powertrains, and platforms to feed global sales channels. This guarantees a high likelihood of product success, but often also a bland if competent uniformity. So, when something reaches off the page and slaps you in the face, when a just-launched online configurator has you rushing to check your bank balance—that’s amazing. Click here for Car and Driver’s slideshow of vehicles that make news each time they shed a bit of camo or whenever a jet-lagged executive reveals a detail about a redesigned wiper stalk. Dealers won’t be surprised that the BMW 5-series, the Honda Civic Type R, and the 2017 Volkswagen Beetle Dune all made the list, as well as some more exotic selections. Mere rumors of their existence accelerate competitors’ product cycles. The wait to drive them—one, two, sometimes even three years—is rewarded with hoped-for revelations in advanced technology, structural integrity, mass reduction, fuel economy, features, and acceleration. Click here for the full story on most anticipated cars, and a slideshow ranking them from one to 25.
U.S. Banks' Loans Paving the Way for Auto Purchases
Auto loan originations hit a 10-year high in the second quarter, which means numerous banks and credit unions have been capturing business in this fast-growing sector. With total auto loans outstanding of nearly $56 billion, Wells Fargo Bank NA led in auto lending among banks with more than $10 billion in total assets for the quarter ended June 30, according to FFIEC Call Report data via Sageworks Bank Information. Click here for the top 5 large banks in auto loans. Forbes reports that among banks with less than $10 billion in total assets, BMW Bank of North America, the lending arm of the popular luxury vehicle brand, took the top spot, with more than $7.1 billion in auto loans on its books as of second quarter. “It’s good for the economy as a whole that auto lending volume is going up, and it looks like banks and credit unions are playing a role in that space,” said Sageworks analyst James Noe. “Lending by banks is only a piece of the auto-financing pie, but it’s good to look at these institutions specifically because we can see what’s going on with the conventional means of getting financing.” For more on auto loans, including delinquencies, click here.
WEBINAR: A Conversation with Jim Press
Plan to join Jim Press, President of RML Automotive, and past President of Toyota Motor Sales U.S.A. Inc., for a conversation featuring his unique perspectives of the retail automotive landscape: Where We Currently Are, and Where We Might be Heading. AIADA is honored to have Jim for both sessions; don’t miss this program. See the following links for this no-cost webinar hosted by AIADA September 15th, 2015. To register for the 10:00 a.m. EST session, click here. To register for the 4:00 p.m. EST session, click here. This webinar is brought to you by CNA National.
Around the Web
Eight Things We Learned Riding in a 2016 Aston Martin Vulcan [Automobile Mag]
Volvo S90 Revealed in Die-Cast Form? [AutoBlog]
Tesla's Model S P85D Gets Consumer Reports' Highest Rating Ever [NBC]
2017 Kia Sportage Gets a Hint of Cayenne [AutoWeek]