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U.S. new light-vehicle sales were okay in May 2021, but fell from April’s highs. May’s Seasonally Adjusted Annual Rate, aka SAAR, was 17 million units. However, April’s SAAR was revised upward to 18.8 million units. May 2021’s SAAR was up 40.3% from May 2020’s, when light-vehicle sales had just begun to recover from April 2020’s pandemic lows under the previous “drink bleach” administration.
A 17 million-unit SAAR in conventional auto-exec-think would be celebrated as strong: “Even as the historic sales pace slowed slightly, this was the strongest May since 2015, and several brands celebrated their best-ever monthly volume. The annualized rate fell from 18.8 million units in April to 17.2 million units last month, in line with the SAAR registered in both 2018 at17.2 million units and 2019 at 17.4 million units,” said consultancy LMC. (April Sales Shower US Market More than 18 Million Times, US New Vehicle Sales in May Forecast as Record Setting. Global Sales are Another Matter Entirely)
But there is more going on here, AutoInformed opines, given current market conditions. While automakers and the business press have been chasing the semi-conductor shortage, many claim May’s drop in sales are the effects of a supply and demand imbalance. However, the vehicle mix of highly-equipped vehicles, plentiful low-interest-rate money, and the headlong rush into electric vehicles – priced above an average working person’s ability to carry the loan – are starting to make light vehicles un-affordable to the working and middle classes. For example Ford Motor set record electrified vehicle sales – up 184 % on F-150 PowerBoost Hybrid, Mustang Mach-E, Escape and Explorer Hybrid models Continue reading →
Toyota NA Expands Parkopedia Use for Payment Services
An advancement, but only as good as its database, which appears small.
Building on a smaller app announced back in 2017, Toyota said today that the new ‘Park with Parkopedia’ service covers locating, reserving and paying for off-street parking in 2018 model year or newer Toyota and Lexus vehicles. The original service only located parking. The ‘Park with Parkopedia’ service is integrated into the Toyota and Lexus smartphone apps* and vehicle infotainment systems.
The new service covers only 60,000 off-street parking locations with more than 6,000 reservable locations across the USA, using Parkopedia’s payment system to manage transactions. The platform enables drivers to register their payment details using a single secure digital account and then pay for their parking within activated locations. The parking reservation information and navigation can then be accessed via the vehicle head unit. Continue reading →