🚗 Car buyers in control

Happy Friday morning. This is Car Alerts with this week's latest car news and market happenings.

In today’s edition:

• Car buyers in control

• CES 2024 (Consumer Electronics Show)

• Hertz swapping EVs for ICE

• Latest EV news

• Recent recalls

• and more

MARKETS 📈

HEADLINES 📰

Automotive market shifts to favor buyers as U.S. new-vehicle prices down 2.4%.

1.2 million EVs were sold in the U.S. in 2023, setting a new record.

Consumer Electronics Show (CES) 2024: Transportation news, from Honda’s EVs to Hyundai’s air taxi ambitions.

White House unveils $623MM in funding to boost electric vehicle charging points.

Hertz is selling 20,000 EVs (mostly Teslas) and replacing them with gas cars.

Global EV sales now equal 19% of worldwide auto sales.

China likely dethroned Japan as world's top auto exporter in 2023.

Global EV market growth to slow this year on lower subsidies.

Lucid Motors delivered only 6,001 of the 8,428 cars it built last year.

65% of U.S. drivers don’t understand ‘Connected Cars,’ but many will trade data for personalization.

Polestar CEO promises to keep Apple CarPlay and Android Auto around.

U.S. and California announce Cummins Inc. agrees to pay $1.675 billion civil penalty in settlement.

The SEC wants $45 million from bankrupt Lordstown Motors.

RECALLS

Ram emissions recall includes 630,000 Ram 2500 and Ram 3500 trucks equipped with Cummins engines.

Porsche recalls 47,000 vehicles over a charging cable discrepancy.

Ford recalls 147,000 vehicles over oil pump drive belts and drive belt tensioners that may fail.

Audi recalls 105,000 vehicles because certain charging cables may overheat and melt.

That’s all we have for you this week. We’ll see you next Friday morning with more car content.

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