In business as in life, things often get uglier before they get better. A cut will scab before it heals, minor catastrophes seem to pour before calm washes over — those sorts of things. In this case, getting worse means Nissan just announced its first quarterly operating loss in years, and the automaker is forecasting more trouble on the way during its current turnaround phase.
At the same time, Porsche is reportedly in an actual restructuring phase, GM dropped the first teasers of the next-generation Chevrolet Bolt last night, and one understandably dissatisfied customer of a Kia dealership in Ohio has found a smart and legal way to get one over on the business.
Welcome back to The Morning Dump, our daily round-up of bite-sized tidbits of car news that you oughta know about. Matt’s out this week on vacation, so I’ve been given the reins. Grab yourself a coffee, let’s get into it.
Nissan Takes An L
It’s been a rough few years for Nissan, and things are going to get worse before they get better. The company’s financial results for the first quarter of its current fiscal year are now out, and Nissan just posted its first quarterly operating loss in more than four years. It’s a notable change from last quarter, on which the company wrote “In the fourth quarter of fiscal year 2024, consolidated net revenue was 3.490 trillion yen, consolidated operating profit was 5.8 billion yen, and operating profit margin was 0.2%.” So how bad is this financial downturn? As the automaker wrote in a statement:
In the first quarter, Nissan recorded global sales of 707,000 units and consolidated net revenue of 2.7 trillion yen. While improvements in product mix and reductions in fixed costs helped mitigate losses—resulting in a smaller-than-expected operating loss of 79.1 billion yen compared to the earlier forecast of 200 billion yen—the company continued to face headwinds. These included lower sales volumes, adverse exchange rate movements, and the impact of U.S. tariffs. Consequently, the net loss for the period amounted to 115.8 billion yen.
At current exchange rates, that works out to an operating loss of $530.9 million and a net loss of $777.9 million. It’s a smaller loss than expected, but it’s a big contrast to the first quarter of the previous fiscal year, in which Nissan actually turned a profit. It’s also likely not a one-off bad quarter, as the company released guidance that details a predicted second-quarter operating loss of 100 billion yen or $671.1 million at current exchange rates. It really is a make-or-break moment for Nissan, as CEO Anthony Espinosa hinted at in a statement:
These results serve as a reminder of the urgency behind our Re:Nissan recovery plan. Over the past quarter, we’ve taken decisive first steps—cutting costs, redefining our product and market strategy, and strengthening key partnerships. We must now go further and faster to achieve profitability. Everyone at Nissan is united in delivering a recovery that will ensure a sustainable and profitable future.
When was the last time Nissan posted a quarterly operating loss? Well, it was the fourth quarter of fiscal year 2020. By the time the first quarter of fiscal year 2021 came to a close, things had turned back to profit, as a media release on that latter period states:
Supported by favorable market conditions, profitability improved as Nissan continued to improve the performance in the U.S. market and quality of sales in each market, through the solid implementation of Nissan NEXT transformation plan. Nissan also made effective use of its inventory and conducted strategic production during the first quarter, which minimized the impact of the semiconductor shortage and contributed to operating profit.
So what comes next? Well, in addition to reducing headcount and closing factories, Nissan has stated it’s working on thousands of cost-cutting ideas. Four thousand of them, in fact, with 1,600 ready to go. A honing of the product portfolio is also in the works, all in the aim of restoring profitability by the end of this fiscal year. Will Nissan meet this target? Well, it kind of has to, doesn’t it? Red ink can’t go on forever, because if you lose enough money, there’s this thing called bankruptcy protection. Nobody wants to end up there, just ask Chrysler.
It’s Make-Or-Break Time For Porsche
Speaking of tight financial situations, Porsche just slashed its annual forecast for the second time in the past few months. The 15 percent tariff rate on vehicles imported to America from Europe definitely plays a role, but it’s not the only reason why year-over-year operating profit fell from €3.061 million to €1.07 million. Headwinds including an 11.1 percent drop in unit sales and a reduction in sales margin from 15.7 percent to 5.5 percent also played a role, and the result is a company that’s reportedly taking big measures. As Manager Magazine reports, at least if Google Translate is accurate:
Porsche CEO Oliver Blume (57) said his company continues to face significant challenges worldwide. “This is not a storm that will pass. The world is changing massively – and, above all, differently than expected just a few years ago.” Therefore, the company is being restructured. Porsche estimated the cost of this for the full year at 1.3 billion euros.
Whoa, restructuring? Yeah, this isn’t just a case of taking a bad quarter or two on the chin, Porsche is reportedly in the midst of making what seem like survival measures. As it turns out, going all-in on electric cars probably wasn’t the right call, at least in the luxury performance segment, and it sure seems like it’ll be the workers who’ll suffer. As Manager continues:
Because demand for electric cars is growing more slowly than initially expected, Porsche is investing in, among other things, the development of new combustion engine models and restructuring its battery activities. This is also leading to job cuts. Negotiations on a second austerity package will begin in the second half of the year. Blume prepared the workforce for further cuts in a letter last week.
Here’s my take: Not re-engineering the 718 Cayman and Boxster to comply with European GSR2 seems like a lapse in judgement as not only does the combustion-powered mid-engined sports car satisfy a base of purists who think the 911’s grown too big, it also keeps the door open on a more affordable Porsche sports car, the sort of package that can’t be 100 percent emotionally replaced with a now-delayed electric model like Porsche plans. Plus, 23,670 global sales last year is nothing to sneeze at when you consider that the vast majority of 718 models went off-sale in Europe. Speaking of entry level models, while momentum is slowly building on the electric Macan, a new, likely electrified combustion Macan suitable for global markets would fill a significant hole in the lineup, what with the current gasoline-powered Macan having gone off sale in Europe. A strong electric lineup is important, but putting all those eggs in one basket seemed foolish, especially considering the headwinds building in China for years that saw America reclaim its place as Porsche’s largest market in 2024.
However, it’s not like Porsche hasn’t been in a tight spot before. From the mid 1980s to the early 1990s, a strong Deutsche Mark and an economic bubble popping in America led to mounting losses, with Porsche posting a loss of 240 million Deutsche Marks at the end of 1992. Thanks to an aggressive strategy of cost-cutting, product streamlining, and hopping on the SUV trend at just the right time, the fortunes of the firm rebounded hard enough that by the late 2000s, it was in a position to attempt a hostile takeover of Volkswagen.
Oh Hi, Bolt
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Put your hands up if you’ve been waiting for the second-generation Chevrolet Bolt. Late in its production run, the first-generation model was a bonafide bargain, and judging by the old Bolt’s success, there are definitely people out there who’ve been waiting for another affordable EV for North America. Well, Chevrolet just teased the new Bolt on Instagram, and while it’s carrying some nice upgrades, it also looks almost suspiciously familiar.
For one, behind the charging flap in the left front fender sits a NACS port, which shouldn’t be surprising considering the industry-wide shift to a Tesla-style connector in North America but is nice to see in an entry level EV. However, taking a closer look at the handful of styling cues revealed, it’s possible the new Bolt shares more with the old Bolt EUV than expected. For one, the cut line for the daytime running lights and the trim insert between the fender and the hood look awfully familiar, as does the shape of the greenhouse, and the rear door handles. It’s possible GM’s using bits of the old body, but if that keeps things cheap, I’m sure not complaining.
Regardless, expect to learn a whole lot more relatively soon. Chevrolet stated in the Instagram post “More this fall,” meaning we’ll be keeping our eyeballs out for America’s latest affordable EV during pumpkin spice season. Pricing isn’t expected to move the needle much on the old Bolt EUV’s $28,795 starting price, so if GM could keep it under $30,000, that would be grand.
It Hurts When IP
A Kia dealership in Ohio has reportedly learned a hard lesson about intellectual property rights and why it’s important to not upset anyone with an upper hand in that department. As Automotive News reports in their story titled “A dealership took her car; she responded by taking their name,” a deal-gone-wrong on a K5 sedan has resulted in a former customer snapping up the dealership’s branding. From the news site:
In February 2024, [this person[ went to [the Kia dealership] to purchase a vehicle, deciding on a 2022 Kia K5, according to court records. Before leaving the dealership, [they] signed several documents, including a retail buyers order. The dealership’s finance and insurance manager put her electronic signature on an arbitration agreement.
Although Global Lending Services initially provided preliminary approval to [them], a few weeks later they concluded the “available information regarding [their] income was not sufficient to substantiate a loan in the requested amount,” according to court records. [Their] car was repossessed by the dealership March 29, 2024, while [this person] was at work.
Well, this, if true, seems unethical. Why did the finance company offer preliminary approval before deciding it couldn’t offer the person a loan? Why did the dealership let them drive the car off the lot? Well, it’s a practice called spot delivery, and for shoppers right on the line of potential approval, it sucks. However, instead of chalking it up as a loss, the person reportedly found a clever legal option to sort-of get even. From Automotive News:
While evaluating her legal options, [the person] discovered the Ohio Secretary of State canceled the registration for the name [of the dealership] after [the dealership group] failed to submit a renewal application. The group operates seven dealerships in northeast Ohio, including three Kia dealerships, three Hyundai dealerships and a Cadillac dealership.
[The person] registered [the dealership name] in her own name and sent a cease and desist letter to the group because the dealership name was now registered to her.
Lol, lmao even. Is this the funniest possible outcome? Possibly, but sometimes you just can’t wait for karma to come around and have to create it yourself.
What I’m Listening To While Writing TMD
Another frantic morning, another pump-up song. It’s “sweet.” by Static Dress.
The Big Question:
With the EV tax credit as good as dead in America, how are we feeling about the new Chevrolet Bolt?
Top graphic image: Nissan
I truly admire the person who snatched the dealer’s name.
Regarding Porsche, I mean, they could always solve some of this problem by increasing production on the high margin vehicles with multi-year waiting lists. But that would mean ending the artificial scarcity that their marketing teams are convinced create prestige for the brand.
Instead, they decided the solution to better profitability can be found by further squeezing their employees, suppliers, and customers.
Looks like this happened in Lima, northwest Ohio.
https://www.courtnewsohio.gov/cases/2025/COA/0728/2025-OH-2563.asp
I spent a week in Lima for work about 15ish years ago. I had never been anywhere that had so many cars running around on giant bling-bling wheels. Just super obviously a thing there. Then I happened to go to the local mall in search of something or other, and there was a store in the mall that *rented them*. Rented giant-ass chrome wheels to put on hoopties! The mind boggles.
Kind of a special place, Lima. They used to build some mighty fine steam locomotives there though.
There is a tire/wheel store called R&R in my small town South Carolina that advertises all kinds of bling. I stopped by one day to inquire about purchasing a set of rims for my C10. They were surprised that i wanted to buy them outright which i thought was odd. I then noticed all the sets of used wheel/tire combos for sale in the corners of the showroom and a banner with the name spelled out: Rent & Ride…….
It just boggles my mind. What do they do if you don’t pay? Repossess them and leave your vehicle on blocks?
But I can’t imagine spending money on these goofy-looking bling-bling wheels to start with. I’m in North Carolina this week and there are countless old hoopties running around on 20IN+ wheels with rubber bands that have to be worth as much as the hoopties. I don’t get it.
At one time Porsche was the atainable exotic. Doctors, lawyers, engineers….
Still is. The Macan starts and $65k and the 718 at $75K
Except those models are dead, which put’s their least expensive options the $88K Cayenne or $103K Taycan. Neither of which are a two-seater sports car.
Wait reading comprehension fail, the Macan is not dead, too many model names ending in an for my brain to parse…..
It’s not dead but it’s still a gussied up 4 cylinder Q5 for $70,000
You can still buy a new 718 today but I see it will end production in October.
Cleveland gonna Cleveland…
Just waiting for Nissan to announce the hiring of Carlos Tavares for $50 billion dollars in total compensation to help with their turnaround.
And I’d be interested in an inexpensive EV, assuming it remains inexpensive. Even better if they slip SuperCruise into that inexpensive vehicle like I think the last Bolt had available.
Second gen bolt? Haven’t we already had two generations and this is the third? Or was what I’m considering the second gen just one of the biggest mid cycle refreshes I’ve ever seen?
The 2022-2023 could be considered a big mid cycle refresh, it kept the same powertrain, battery, anything underneath that you dont see, but also they added the EUV with an extended wheelbase and panels made out of steel instead of aluminum.
Since this one is changing the image a little bit but also the powertrain, charging speed, charging port, battery chemistry, interior, it could be considered second gen.
I think this and the Leaf are the ones with two or more generations of EVs. Not even Tesla that started first has second generations.
That makes sense, but it’s not uncommon for powertrains to carry over. The 2022+ Bolt shares no body panels, and the interior is completely different too. I have always thought of it as a first and second gen, but clearly I am in the minority with that with this article, and wiki, and even GM referring to the new one as a second gen car. Interesting. That’s a huge refresh!
I hope the Bolt makes people realize thats all you need from a car, its the equivalent of the Trax but electric. I saw a picture of someone with a Bolt with +500K miles, these cars are one of the best things GM ever released in recent times. When GM announced that they were canceling the project back in 2023, I went ahead and got one.
The interior probably will look like a smaller Equinox EV, same shifter, wiper stalk with turn signals, screen layout, HVAC controls, etc.
“I hope the Bolt makes people realize thats all you need from a car,”
It won’t.
All I need from a car is a very, very well-used small hatchback for couch cushion money. However, that is not at all what I *want* from a car. And my wants well override my needs, as I can afford to allow them to do so.
And my want for a Chevy EV of any kind is right up there with my want for syphilis.
Sounds like the Kia Dealer needs a new name for their franchise there. Funnily enough, my father-in-law bought a new Rio from Taylor Kia in Lima a few years back. They didn’t screw him over like the lady from the article.
People really need to learn to get financing FIRST, before setting foot in a dealership. And if you CAN’T do that, well, maybe rethink your life choices.
not everyone is as lucky as you and your high score. sometimes people have to take what they can get.
It’s really not luck. You literally create your own credit score by the actions you take. And while occasionally bad things happen to good people, the majority of the time bad credit is the direct result of bad decisions with money. I can give endless examples from my own family, and even myself in my younger years.
Hell hath no fury like a Kia owner scorned.
The Nut screwed the Bolt.
I want to know if the new Bolt still stupidly has its brake lights down in the bumper.
I hope not! That’s so annoying
Based on spy shots, it looks like they put them back in the normal spot.
Looks like they heard that too, also to match existing design language the tail/brake should be real, hopefully.
I was behind one at a light the other day and had the exact same thought.
For the Bolt they’re using LFP so hopefully that helps keep it under 30k, left front flap with NACS is a miss, should’ve been on passenger side for easier supercharger use, at least the tail lights are real.
I am pretty shocked that this was Nissan’s first loss in years. They have been losers for at least a dozen years.
Nissan’s name is tainted. They should revert back to Datsun.
losing a number “777” is even more pathetic
I never qualified for the used credit, and I don’t buy new cars. Bolts are decent but electric cars still have catastrophic depreciation.
I’m currently trying to decide if I am ever going to be OK enough with Elon to get a used Tesla. Our solar panels are producing more than we are using and I can get into a decent 2022 (first year of the comfort suspension) Model Y for around $25k.
I get it, maybe wait for a used new bolt.
My solar panels are also producing excess power. I’m thinking of changing my hot water needs from gas to electric. This would eliminate a $1000-$1200 annual gas bill. Just saying….
Damn! How much hot water do you use? That portion of my gas bill is about $5/month.
I live in New England and heat my home with hot water. So free heat!
$200/ month in winter= $600
$50/ month non-winter=$450
Going from gas fired furnace to electric water heating would incur the equipment cost and installation.
Cost savings would pay for it in 5-7 years. Thanks for asking.
Oh, I see. I guess I didn’t realize steam boilers were still a thing. I have a forced air furnace that works great but it does jack the gas bill up about $200/month during the winter. During the hot months our bill will be $28 and only $4 is actual gas usage. The rest is customer charge, deliver fee, taxes, etc.
Steam IS kinda still a thing, but much more common is forced hot water baseboard heat in New England, whether heated by oil or gas. In which case the hotness (pardon the pun) is using the boiler to heat your domestic hot water as well, and keep it in a big-azz thermos bottle so the burner doesn’t have to run continuously while you are using hot water. I have had such a system in Maine for ~20 years, very efficient. Hot water for free all winter, very little oil used to heat it in the summer as in my case the boiler can heat 40gals of water from cold to temp in ~45 seconds.
Of course today I would have put in low temp heat pumps for about the same cost, even more efficient, and central A/C as a bonus. But going from the ancient heating system I had before to this one, along with new windows and some insulation, cut annual heating oil use from 1500 gallons a year to 450 or so. And I happened to do it right before the cost of oil tripled. Get lucky once in a while. Did not take long to pay it back.
True. It’s a baseboard heating system (not steam). Something moving from Texas I was unaware of. Thanks , again.
You probably already know all of this, but there are still federal tax credits for heat pump water heaters through the end of the year (I think; the heat pump credits don’t end at the same time as the EV credits), and there are models that run at 120 volts, so while they wouldn’t recover quickly, they wouldn’t require electrical work, either.
Why just the 2 options? Kia/Hyundai have a few options (Niro, Ioniqs, EV6). The Mach-e is a decent car if you can get past the giant touchscreen (which if you’re willing to buy a Tesla, I assume so).
I’m watching used Mach E prices myself for a future commuter. I can’t remember the details, but Hyundai/Kia have had some expensive part failing on the Ioniq and EV6s. Although maybe the internet has distilled it into a bigger issue than it really is though.
ICCU, and the 12v battery doesn’t do well unless it’s ugpraded to an AGM-composition. I estimate ~5% of the cars have the ICCU issue which can you leave you on limp mode with a short leash to being stranded. The 12v is an easy, if not dumb, fix.
Thanks! So I am clear (I have EV research fatigue or I would look it up), if the 12V battery is upgraded the ICCU will be OK?
Unfortunately no. The 12V issues are (generally) independent of the ICCU. Car can no longer be charged by AC and a limp mode is induced in the car.
I believe the component is covered by the 8yr/100k federal warranty, but either way Hyundai has issued an extended warranty. The issue had become the backlog to get a replacement one. Some people wait a couple weeks. Others wait months.
Yeah, this is a hesitation for me. Nearest Hyundai dealer is an hour away.
I thought the same, but pulled the trigger on an off-lease 2022 SEL anyhow because it qualified for the $4k used EV tax credit. Haven’t had an issue over 12 months (original 12v battery too!) so far so good.
If I had to do it again, I would go with a 2025+ models or the Ioniq 6 since they reduced number of coolant loops for dealer-only maintenance and added a needed rear wiper. Genesis and Kia platform mates are also consideration.
2025 puts me in a new one, meaning I would face both Korean and EV depreciation. No dice.
For now I think I am going to just drive the truck when not riding some place with my wife. Wait it out, then maybe I can get a heat pumped equipped model S for $25k and start this whole terrible research cycle again.
Most Mach-Es get around 235ish miles of range. That’s not enough. And only the brand new ones have heat pumps, so winter range is far worse.
I thought about the Ioniq 5 very seriously…but again I am shopping 2-3 years old and those can be a little problematic.
Yeah that’s fair. 235 would not be enough for me either. Maybe you’ll get a massive raise and you can get a Lucid. 🙂
Edit: realized I’m replying to you above already lol
I thought the same, but pulled the trigger on an off-lease 2022 SEL last year because it qualified for the $4k used EV tax credit. Haven’t had an issue over 12 months (original 12v battery too!) so far so good.
If I had to do it again, I would go with a 2025+ models or RWD since they reduced number of coolant loops for the 40k dealer-only maintenance item and added a needed rear wiper. Genesis and Kia platform mates are also consideration.
The tax credits didn’t help any in the depreciation. On top of the immediate depreciation driving off the lot, then add another $7500, then if buying used the last few years another $4000 off so just tanked the market.
Great for buyers, not so much for owners, may be one of the few good things to come from getting rid of the credit is people don’t get underwater on them so fast.
Correct. The real price for a new base Bolt was about $18K in 2020. Some utility credits could take it even lower.
At least if you’re buying a used Tesla, you’re not directly pumping cash to Elon. But as you note, depreciation is real and you can choose from a number of other pretty nice EV options, should you go that route on the used market.
Well when it comes to Nissan that’s nothing that $12,000 off a few Muranos can’t fix, right?
Re: Porsche no fucking shit they’re having a hard time. They’re charging absolutely ludicrous sums of money for their cars and options. They’ll always sell every single special sports car they can make before it hits a lot at over MSRP, but that’s not enough to carry the company.
A Macan, Panamera, or Cayenne are basically 20% more expensive than their competitors off the bat, and that’s before options. By the time the average base Cayenne hits a lot it’s $115,000, and a base Macan with a Volkswagen 4 cylinder is like $80,000. The type of people who can afford to spend that much money on a car don’t wind up in the financial positions they’re in by setting money on fire.
A badge can only get you so far and Porsche has stretched their badge prestige to the end of the universe. I personally love Porsches, but do I think a Cayenne is $25,000+ better than an X5? Of course not. Do I think a Panamera is worth $25,000+ more than an A7? No. Would you rather have a base 4 cylinder Macan or a well equipped SQ5/X3 M50i for $70,000?
Oh but wait, that Macan has Porsche embossed in blue on the headrests, a mediocre Bose audio system, a stopwatch on the dashboard, and limited edition Exquisite Glacier Gray Pearl paint that’s totally not just primer gray. All of that will cost you $30,000. Out the door on your Macan will be 100.
It’s not sustainable. None of the “charge more and more forever and ever” post covid corporate hysteria is. Everyone knew that. I’d say I have no idea how the manufacturers didn’t know this but they can’t think further ahead than their next earnings call and that CEO’s $30,000,000 bonus isn’t going to pay for itself with incentives now, is it?
I agree wrt Porsche. I used to love dreaming and building Porsches online, but it’s not even fun anymore. That stopwatch on the dashboard is over $1000.
A couple of years ago when I got the raise that pushed me into six figures for the first time I was like “hey, maybe this Porsche dream could come true” and spent some time on the Macan configurator.
…and realized that if you wanted literally anything other than white over black you’d be spending an extra 5 figures. When I spec’d out a Macan T with like 3 things (cool paint, an interior that was a color that wasn’t black, the sports exhaust, and the upgraded audio) it was $80,000+.
…for a CUV with the same engine, roughly the same amount of interior space, and essentially the same transmission as a GTI. Like….what? Who is paying that much?
Perhaps I’m in a minority, but I prefer the X5 to the Cayenne at any price. The Cayenne has better high speed stability, but that is a tiny bit of my SUV driving time. And in every other way I prefer the X5.
The X5 is a great car. My dad has a 50e. It’s attractive, smooth, spacious, built like Fort Knox, and it feels like driving around in your living room on the highway. You also don’t even have to upgrade the engine. If you want an N63 and all the trouble that comes with it for V8 noises and mind bending acceleration you can have it…but the B58 is god’s own engine.
It sounds amazing, it’s incredibly powerful, incredibly tunable if that’s your thing, and it delivers 4 cylinder fuel economy. I love V8s and am a bit of a BMW fanboy (even in these trying times) but I don’t see any reason to choose something else if a B58 is on the menu.
You’re thinking about this all backwards.
Certainly the manufacturers (the CEO and other executives) knew all of that. And thinking about the next few quarters and their annual bonus is exactly why they said the things they said. It’s not that they didn’t know better. Having investors buy your stock and run up the price based on things the CEO and CFO say is exactly how that bonus gets to where it gets. Sure, profits and revenue factor in but it is very largely tied to the stock price as well.
If they tell you they are making moves to keep prices and profits high you know it is BS. That specifically is affected by forces out of their control and they know. They also know people are dumb and won’t figure it out before it’s too late.
I could not agree more. I nearly ordered a VERY lightly optioned Cayman back in 2019 as a 50th birthday present to myself. It was nearly $80K by the time the taxman was paid back then. My inner Yankee Cheapskate ultimate said “are you out of your G-D mind”? European Delivery sure would have been epic in that though. Sigh.
At least the Cayman, Boxster, and sundry 911s ARE special and bespoke cars that share nothing with nobody. The rest of their crap is just Audis with delusions of grandeur, which are largely just Volkswagens with delusions of grandeur. Nooooope.
That indirect auto deal is fishy AF. The dealer has a requirement to do their due diligence as much as they can, but since everyone wants to get the deal done (customer and dealer), they can always add “Subject to XYZ” if all the documentation isn’t finished.
So while it’s comical that she took their name, I also think she played a pretty large part in the rejection, too. The worst call I ever had to make while selling cars was the day after a guy left, I told him he needed to bring the car back to us (or we’d have to call repo). He had lied about his income and couldn’t provide documentation within 24 hours. That’s fair…if the guy had never been allowed to drive away — like the woman in this story — we’d never be reading about it. It would just be another up-front rejection.
When my wife bought her car she brought her own bank financing for the deal and it was closing time so the salesman asked her to drive the car around the block real quick before coming back the next day with the bank check.
Felt like a scam to me. What was that about?
That’s certainly weird, but it could also be something as simple as a dealer procedure for making sure the customer has test driven that exact car prior to sale for some weird liability or internal policy reason. I certainly don’t trust a lot of dealers, but I know that some sales people have really arbitrary/bizarre things they have to abide by.
And this was after they came out of the back room with a higher price than was listed on their website. Salesman made me pull up their website in front of him to show him the internet price was a couple k lower than the “deal” he brought out. Worked out in the end. Despite living a hard 40k in Ketchikan, AK it has been an insanely reliable vehicle.
Sounds like a wink/nod like “You can have the car, just bring the check tomorrow.” That’s a nice level of trust…
The last time I bought a car, I brought my own financing and everything took 10x longer because the dealer was so accustomed to people using their in-house options. And they still tried to undercut my own financing (with a local credit union) by showing me some mega-bank options. After all the work I’d put in, and wanting to keep my bank business local, I had to turn them down almost a dozen times.
My credit union has a car buying service that I highly recommend – last time I paid a small broker’s fee but saved so much time and frustration as well as avoiding thousands of dollars in “mandatory dealer installed options”.
“See, they install that TruCoat at the factory. There’s nothing we can do about that.”
Ah but there is sure something *I* can do about the factory TruCoat – I can buy the car somewhere else. That’s the nice thing about new cars, you can buy the same one all over the place. My local KIA dealer plays the TruCoat game, so while we test drove cars there, we bought from the one 45 minutes down the road who didn’t play games.
As a current Bolt owner, I’d happily replace it with another when the time comes. Except, since I don’t expect CarPlay / Android Auto to make it to the new version, unless they reverse course, I’ll be looking elsewhere.
How do I feel about the Chevy Bolt?
Same as before. Meh. Hopefully those that like it, still but it.
I have to say, Nissan should just change the name to Assan Motors, and make perfectly good Fiats in Hadleyville Pennsylvania.
Or Pisson
I don’t know if they’d be all gung ho about that idea.
Assan is also the name of Hyundai’s joint venture operation in Turkiye (Hyundai Assan Automotive)
With the EV credit dead I will probably just ride my Fiesta ST into the ground. Just bought a Sync 2 to Sync 3 upgrade kit for $350 on eBay so I can “modernize” it by getting some wireless CarPlay going.
QotD: Very good, actually. The tax credit was always a crutch for automakers, there is no engineering reason why an EV should not be cheaper than it’s ICE counterpart if it’s properly designed. If the loss of a subsidy forces automakers to actually start building cheap cars people can buy rather than endless trimflation and “Dude-bro Editions” of giant pickups, then that is a net win.
If the Bolt can manage >250 miles range and cost under 30k in base trim, then I think they are going to sell a lot of them.
I could see the base cost even dropping a bit, going to cheaper LFP batteries and having very limited other changes other than faster charging. It will be interesting to see if it they go that route, and have it hit cost parity with ICE without any tax credits. If it can trend towards cheap and simple unlike most other new cars, 100k sales a year would probably be possible, as it wouldn’t really have any other direct competition.
Bolt 2 Electric Boogaloo
I approve.
Username checks out.
The battery is still a hugely expensive item. But in a sense you are right, the real reason EVs are expensive is political – the US government has banned affordable EVs from the country that produces most of them.
It’s the most expensive item, and compared to an ICE vehicle takes up a disproportionate amount of the overall cost, but are not actually that expensive in real terms.
They are affordable because they are massively, massively subsidized, usually for internal PRC political reasons (hence the zero-mile used car weirdness that other articles on this site have covered). Labor in China is not actually that cheap any more (Mexico and Vietnam have been cheaper for a while), and while there is a certain expertise advantage there, the math for something like a BEV doesn’t actually pencil out to that much better than just making it in North America.
They are not any more subsidized than EVs are in the US and EU. Don’t fall for the excuses. And China can build EVs cheaply for the same reason why they can build everything cheaper than the US. Its’ not just labor rate. It’s manufacturing infrastructure. If you need specialized screws the screw maker is just down the street. If you need an injection molded plastic piece there are probably six contractors within a 5 mile radius. Electricity is much cheaper. Shipping is fast and cheap. They also have all manners of manufacturing robots to automate the production line. It’s crazy to think we can out-China China, when we should just be focusing on our strength, which is innovation and consumer designs.
Er, yes, yes they are. China’s own government will admit to $20 million USD worth of subsides to BYD for just 4,900 units worth of sales, which pencils out to just over 50% of the final sales price of the car (averaging around $7700) consisting of subsidizes.
Automotive manufacturing is the largest manufacturing sector in the US, responsible for around 5% of private sector jobs. China might have a massive lead in consumer goods manufacturing, but in the automotive sector the US has the edge.
My screw maker is just down the street as well, as is our injection molding contractor. China might be cheaper electricity prices on average, but thank god I’m not in California and my hydropower is even cheaper than the cheapest in China.
The ivory tower class seems to think the US can no longer manufacture goods, and we shouldn’t even try, but nothing can be further from the truth. The US still has vast manufacturing capability, it’s just that it’s shifted away from low-margin consumer goods into higher margin industrials and durables. Consequently, I agree we shouldn’t try to out-China China- because there is no magic sauce in China, it’s just massive state subsidies combined with lax labor and environmental regulations. That “advantage” is not one the US should seek to have, but happily it doesn’t have to.
If EVs were made at the same annual volume as their ICE equivalent, the costs could be similar. I could see a 70kwh LFP battery pack coming in under $8k if the volume was there. That’s based on $70/kwh cell prices and a fudge factor for the extruded aluminum enclosure, cooling plates, BMS and internal bus bars. The rest of the EV components, especially for single motor vehicles, will be cheap by comparison.
I hope the Bolt, and the future low cost Ford EV, will be built at a high enough volumes to sell at prices comparable to ICE without selling at a loss.
Exactly. Plus GM and Ford have a massive, massive advantage: government fleet sales. Like, the Bolt is just begging for a matte white paint job and an “official use only” sticker, sold by the 100k lot.
I really hope that the woman that took over the copyright to the dealership name offered to lease them the rights in exchange for a new K5, nothing like a good lesson in FAFO to a stealership.
I’m still trying to reconcile the “doesn’t qualify for the financing” and the “has resources to file for the trademark and hire a lawyer” bits.
There’s a lot to that story that doesn’t really add up.
Having been screwed over by a Kia dealership, I really wouldn’t put anything past them at this point, though. I’ll never buy another.
Google tells me a copyright registration $45-125 to file, and a trademark is up to $400, so not massively expensive if you’re hellbent on revenge, and I believe you can get generic Cease and Desist letters online for nearly nothing, so this would have been a fairly cheap plot to execute.
If I were in a similar position and found the opportunity to take over the naming rights, I wager it would be a really good gamble to take, given the potential for a payout by leasing the rights for your ownership period.
That is a bit cheaper than I’d have guessed.
And for the stealership, probably cheaper to pay the FAFO “tax” they brought upon themselves than it would be to rebrand or be fined for violating the IP rights.
Its entirely possible she is self employed, or has some gig job arrangement, where she has money coming in but can’t prove its stability to the fiance company. There could also be some black mark on her credit record, perhaps tied to a divorce or some other event that makes it hard to get it removed, but has little effect on her day to day financial life.
Yeah, let’s not forget that the whole “credit score” industry is b.s. meant to screw over people, not help them.
Credit scores are designed to tell lenders how likely you are to pay back a loan on time. The biggest factory by far is history of on time payments.
Funny, life is pretty damned great when you have a top-notch credit score. And it’s not at all hard to have one – pay your bills on-time. The overwhelming majority of people have at least “good” credit scores.
Obviously, credit scores exist to help *lenders* know who is and is not a good bet.
I do wonder if she can hold the rights against an appeal, since she cant show actual use in commerce or intent to use (eg, she filed for automotive retail and related services, but doesn’t have a dealer license or a pending application for one)
It doesn’t sound like she took the copyright or trademark. She took the registered corporate name because it wasn’t renewed at the Secretary of State (or other division of corporate registrations, depending on the state). My guess is that the SOS will throw out her registration when the facts come to light.
I’m not defending the dealership or the practice of letting people take the car before hard credit approval, but I don’t respect her actions either.