• Low Diesel Inventories Trigger Record Prices and Inflationary Pressures

    October 24, 2022

    The 118th State of the Fleet Industry video produced by Automotive Fleet offers insights into the state of the fleet market as presented by AF Editor Mike Antich.

    🎙Today’s topics include:

    • On average, diesel stockpiles today are 30% lower than what they have traditionally been at this time of year. As of Oct. 21, diesel supply in the U.S. is down to 25 days, which means diesel inventories are at their lowest level for this time of year since 2008.
    • There is a direct correlation between the low inventory of diesel and the price at retail pumps. This low supply is exerting upward pressure on the price of diesel, especially since there is an ongoing strong demand for the product.
    • When diesel stockpiles contracted in April and May 2022, it created upward pressure on retail prices. In May 2022, No. 2 diesel hit an all-time record retail price of $5.51 per gallon.
    • The higher cost of diesel creates inflationary pricing pressures. For instance, when the cost to transport goods increases, those increased costs are passed on to end-users.
    • What will ultimately bring down the price of diesel and increase the inventory of diesel fuel will be the recession that everyone is predicting. A recession would slowdown in end-user demand and industrial activity, which, in turn, will put downward pressure on fuel consumption.

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    Timestamps 
    0:00 Intro

    0:45 Diesel stockpiles lower than the past at this time of year

    1:19 The direct correlation between low diesel inventory and retail price

    2:34 Upward pressure on diesel stockpiles and prices in April and May 2022

    5:35 Diesel’s higher cost and inflationary pricing pressures

    8:51 What a recession would bring for diesel prices and inventory

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  • Sainz fastest for Ferrari at first U.S. Grand Prix practice

     Ferrari’s Carlos Sainz lapped fastest in first practice for the U.S. Grand Prix on Friday with Red Bull’s double world champion Max Verstappen close behind and Lewis Hamilton third for Mercedes.

    The Spaniard lapped the Circuit of the Americas with a quickest time of one minute 36.857 seconds and Dutch 25-year-old Verstappen, who won the Formula One world title in Japan this month, 0.224 slower.

    Verstappen won last year in Texas and another victory with fastest lap on Sunday would secure Red Bull’s first constructors’ title since 2013. It would also equal the record for most wins by a driver in a single season, lifting Verstappen alongside Michael Schumacher and Sebastian Vettel on 13.

    The champion was not entirely happy in the session, however, complaining that “there must be something wrong with the car because there is no front end in low speed.”

    Canadian Lance Stroll was fourth fastest for Aston Martin with Red Bull’s Sergio Perez fifth and Fernando Alonso sixth for Renault-owned Alpine.

    Ferrari reserve Antonio Giovinazzi took the place of Kevin Magnussen at Haas, but the Italian lasted barely eight minutes before he crunched into the Tecpro barrier to end his session. Haas said the clutch was burned out and a gearbox change was likely before Magnussen returned for practice two.

    “On your third lap to put it in the wall is not fantastic,” commented team boss Guenther Steiner, who has yet to name Magnussen’s team mate for 2023 with Mick Schumacher’s future uncertain.

    Five drivers replaced race regulars for the session, with four of them making their grand prix weekend debuts.

    They included 2021 IndyCar champion Alex Palou at McLaren in Daniel Ricciardo’s car. Israeli Robert Shwartzman, who previously raced as a Russian in lower categories, was the fastest of the bunch in 16th place as stand-in for Charles Leclerc at Ferrari. French teenager Theo Pourchaire was given track time by Alfa Romeo, ahead of a reserve role next season, while 21-year-old American Logan Sargeant drove for Williams while Canadian Nicholas Latifi sat out the session.

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  • 2024 Jeep Recon All-Electric SUV Coming Next Year

    The all-new 2024 Jeep Recon EV is coming to crawl rocks. Electric cars have made their impact across every market, zapping into classes of vehicles including full-size pickup trucks, station wagons, and luxury SUVs. The Wrangler EV was the inspiration for the Recon EV, which is an all-electric mid-size SUV with four-wheel drive, a power-folding roof, and easy-to-remove doors.


    We have some new renderings that show a very attractive design and a spare tire mounted on the tailgate. Unfortunately, we don’t have exact information on the vehicle’s cost, range, battery capacity, or overall power output yet. The LED seven-slot front grille, the beefy BFGoodrich TA rubber, and the seats for up to five people on top of rubberized flooring can all be seen. We are still waiting for the full reveal of the Recon EV, which should happen sometime in the next few months.

    2024 Jeep Recon side

    2024 Jeep Recon Design

    Jeep says that the 2024 Recon, a mid-size SUV, will take some design ideas from the legendary Wrangler. The company revealed that it has “exceptional” approach, departure, and break-over angles, as well as doors and windows that can be taken off.

    The boxy design and spare tire of the Recon are similar to those we saw on the Wrangler. It also has the same classic fenders and eye-catching headlamps. However, unlike the Wrangler, the Recon will get electronic locking differentials, off-road-rated tires, and underbody protection. We absolutely anticipate that it will also feature all-wheel drive as standard.

    Interior Rumors

    From information that’s available, the 2024 Jeep Recon will be equipped with the most recent Uconnect infotainment system. Knowing the brand, we expect the inside to be of high quality, likely like what we saw in the Jeep 4xe model.

    The trunk of the Jeep Recon is made up of a frunk and the space behind the back seats. When the back seats are up, you can expect to have about 30 cubic feet of space. Even though the exact numbers haven’t been confirmed yet, we can be sure that the EV chassis will be more useful than the Wrangler.

    2024 Jeep Recon Motor Specs

    Although it is too soon to say, but we estimate the Recon to provide a range of 250 miles. As other electric sport utility vehicles (SUVs), Jeep may provide a variety of batteries and motors of different sizes. This, in turn, will have an influence on the overall horsepower and driving range of the vehicle.

    2024 Jeep Recon

    Price and Release Date

    Jeep hasn’t yet disclosed the pricing of the Recon EV. However, we believe it’s safe to expect that it will be more costly than the Wrangler. Several sources say that the upcoming 2024 Jeep Recon will be available in a variety of trim levels.

    The price for the initial model, the Sport, should be close to $60,000. The Willys can be purchased for $63,000, Rubicon for $69,000, Sahara for $74,000, and the Sahara High Altitude is $79,000. All models will be made available for purchase the following year, most likely before the summer.


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  • Electric car investment envy spawns a ‘tax break industrial complex’

    The electric vehicle revolution will be subsidized.

    China has been at it for more than a decade, incentivizing purchases, backing homegrown battery makers and blocking foreign firms from competing. Europe has followed suit with generous aid both for consumers and companies.

    Now that electrification has taken root globally, and there’s a climate change believer in the White House, the U.S. has jumped into the fray in a bigger way than ever before. First, there was the $7 billion tucked into the infrastructure bill last year. Then, hundreds of millions made available by invoking the Defense Production Act. And now, the mother of them all, the Inflation Reduction Act, which extends generous tax credits to buy, build and charge EVs, and localize the battery supply chain to power them.

    All this global competition gets a lot of attention, but there’s another subsidy battle raging within America’s shores: a cutthroat fight among states to land EV and battery investments.

    There were lots of headlines following Ford’s announcement a year ago that it would invest $11.4 billion in Tennessee and Kentucky to build two new EV hubs, the largest outlay in its history. General Motors also set a company record with its $6.5 billion investment in Michigan early this year.

    What often ends up in the finer print of stories about these developments — if it gets mentioned at all — are the tabs that taxpayers pick up. States rarely disclose the amounts in full, instead dribbling them out over months in bits and pieces, or in response to public information requests. Even then, calculating a full package is like putting together a jigsaw puzzle.

    Bloomberg dove into this in depth in this story yesterday, which coincided with a new report from Good Jobs First, a vocal critic of corporate incentives. Among the sweeping policy questions the nonprofit researcher raises: Why should states subsidize EVs when consumer demand is clearly taking off?

    Also complicating matters: the notion that electric vehicles may end up being job killers, more so than job creators, if you net out all the losses linked to internal combustion drivetrain components that no longer will be needed.

    Good Jobs First does a detailed analysis of some of the deals states have cut with car companies and battery manufacturers. Georgia’s $1.5 billion incentive package for Rivian, for example, prominently touts average annual wages of $56,000. One needs to scroll down 130 pages to find that the wage floor is $20 an hour, which works out to about $36,000 a year. The state’s economic development agreement also allows Rivian to use “employee leasing” companies to count toward its job-creation goals.

    In Kansas, the incentive deal for Panasonic that Good Jobs First values at $1.27 billion includes some favorable clauses for the Japanese battery company. According to the report, Panasonic has to invest capital for five years to win income tax credits, but doesn’t have to guarantee certain levels of employment or wages. If the factory is unprofitable and doesn’t owe any tax, the state is still obligated to pay out money each year, as long as the investments are made.

    People on the left and the right of the U.S. political spectrum say corporate incentives can be wasteful and unnecessary. Even state officials who participate in the “tax-break industrial complex,” as the Good Jobs First report calls this phenomenon, acknowledge that it’s an unsavory game. But the feeling is they have little choice if they want to compete for these new jobs.


  • Mercedes recalls 2020-2022 GLS to fix potential rear seat collapse

    Mercedes-Benz is recalling just shy of 60,000 GLS-Class SUVs to address a potential failure of the third-row seatback locking mechanisms in the event of a crash. Units built with improperly assembled components may not properly restrain passengers in the event of a collision, increasing the risk of injuries. 

    “The springs in the locking mechanism of the third row left and right seatback might not have been installed according to current production specifications,” Mercedes-Benz said in its defect report submitted to NHTSA. “In the event of a crash, a failure of the seatback lock cannot be ruled out, which could increase the risk of injury to vehicle occupants. The basic functionality of the rear seatback lock would no longer be working as intended.”

    Since the issue is related specifically to the hardware mechanisms in the seats, there would be no indicator to owners of a potential defect. The recall population includes a total of 59,574 vehicles spread across the GLS 450, 580 and AMG GLS63 variants. Mercedes-Benz says it has not been informed of any incidents or warranty claims related to the issue in any vehicles currently in customer hands. 

    The recall doesn’t cover all models in the specified year/trim range; others were assembled properly. Mercedes has specific part numbers for the correct replacement assemblies. Notices to owners will be distributed before the end of November. 

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  • California makes digital license plates legal for everyone

    California was the first state to begin a pilot program for digital license plates, but now it’s coming out of the pilot program and going statewide for anybody who wants one. Thanks to a recent bill (AB-984) that just passed, it will now be legal for everyone in the state of California to run a digital license plate.

    Your options for purchasing a digital plate are limited to just one company: Reviver. As of today, Reviver says that approximately 10,000 California cars are running around with its plates as part of the pilot program. That number will undoubtedly increase as word gets around about the new law passing that allows anybody to purchase them.

    In case you haven’t seen or heard of digital plates from Reviver before, know that they use a monochromatic HD display that can be swapped between light or dark modes (black or white background). They’re battery-powered — Reviver claims a five-year battery life — but if you’re a commercial customer, Reviver offers a hardwired solution that uses power from the vehicle’s 12-volt battery.

    Why would you want one? The biggest reason is most likely aesthetics. Perhaps you like the monochromatic look for your car more than any of the other available plate options. You’re also able to write a personalized message that shows up on the lower portion of the plate. “Renewal” can be set up to happen automatically, so your digital display represents the year and month that your registration is good for — no sticker necessary. Reviver says its plates will operate in temperatures between minus-40 degrees and 176 degrees Fahrenheit. 

    Features that Reviver says are coming in the future include family services and alerts, stolen car reporting and recovery spot, tolling system integration, vehicle diagnostic and maintenance alerts, additional DMV transactions and parking and other payment services integration.

    How much will all this cost you? You can only subscribe to the plate as of today, and it will cost you $19.95/month for 48 months. If you’d rather do one lump sum, a four-year subscription costs $215.40. The hardwired commercial plate can be had for $24.95/month or $275.40 for four years. Professional installation of said plate is $150.

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  • New EV Product Provides 80% Charge in 12.5 Minutes

    Each one of BTC Power's 180kW AiO unit can charge two electric vehicles at a time continuously. This means the unit can serve more customers in less time. - Photo: BTC Power

    Each one of BTC Power’s 180kW AiO unit can charge two electric vehicles at a time continuously. This means the unit can serve more customers in less time.

    Photo: BTC Power

    BTC Power, a manufacturer of electric vehicle (EV) charging systems, introduced a new charger Oct. 3 that can provide an 80% EV battery charge in as little as 12.5 minutes. 

    The company showcased its 180 kW All-In-One (AiO) DC Fast Charger at the National Association of Convenience Stores convention. This is the latest of BTC’s new Gen4 product family, which comes with two touchscreen options of 15 in. or 32 in., ADA compliant retractable cables, simultaneous charging, and up to 500A.

    “BTC POWER is focused on continuing its legacy of innovation in the electric mobility industry,” said Michael Wagner, chief operating officer at BTC POWER in a news release. We design and construct EV chargers that help meet the increased demand, investment, and desire for electrification infrastructures as an alternative to traditional fueling options.”

    BTC POWER aimed its unit on charging at 150kW (or eight miles per minute) and more, ensuring that customers can charge between 12.5 – 30 minutes to receive 200-250 miles of range. Standard cables for this type of system typically require 35-40 minutes of charge time. This makes the new 180 kW AiO ideal for fleet operators, charge point operators, fueling stations, convenience stores, retail centers, heavy duty transit shuttles, school buses and other specialty vehicles.

    “The 180 kW All-In-One charger addresses the needs across a myriad of verticals,” Wagner added. “Its core platform not only addresses the current demand, but it is built on the foundation that allows it to adapt to the needs of future vehicles and their evolving battery requirements.”

    The 180 kW AiO features a compact design with footprint similar to a standard gas pump. The lightweight, 500A liquid cooled cables make the charger easier for anyone to use. Retractable cables mean longer cables to reach vehicle charge ports, resulting in an improved customer experience. CCS1 And CHAdeMO connector options are available.

    Customizable touchscreens (15-inch or 32-inch) provide ample space to communicate messages to customers, ranging from specials and promotions to corporate communications to streaming television and everything in between. Each 180kW AiO unit can charge two EVs at a time continuously. This means the unit can serve more customers in less time.

    Connectivity and security are critical components. The 180 kW AiO connects through LAN, WiFi or cellular technology. It offers credit card and RFID (near-field) payment options through these systems.

    The design and configuration of the 180 kW AiO allow the unit to be updated to comply with site and regulatory requirements. This means decreased out-of-service time and more time to serve EV charging customers.

    Built to withstand a wide variety of temperatures and conditions, the 180 kW AiO’s design and construction mean a lower cost of ownership. When maintenance and repair are necessary, the side or front doors provide easier access and these services can be performed by one person.

    BTC POWER offers unique and customizable AC and DC charging solutions. The  e-mobility manufacturer offers service plans, maintenance and training on all products.

    Learn more about BTC Power charging  

    Originally posted on Charged Fleet

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  • Editors’ Picks September 2022 | A spunky performance crossover and an electric BMW

    This month sees us award Editors’ Picks status to some intriguing new metal rolling into dealership lots and an old favorite. The Kona is a splendid little crossover on its own, but after trying out the N model, it’s clear that Hyundai’s N division isn’t messing around. And then there’s the new electric 4 Series, otherwise known as the i4. Luxury, electric sedans that are reasonably affordable are shockingly still thin on the ground these days, but BMW’s first entry to this market is a good one. Lastly, there’s the Lexus LC 500, a car that needs no introduction.

    In case you missed our previous Editors’ Picks posts, here’s a quick refresher on what’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get Editors’ Pick status. Those are the ones we’d recommend to our friends, family and anybody who’s curious and asks the question. The list that you’ll find below consists of every car we rated in September that earned an Editors’ Pick.

    2022 BMW i4

    Quick take: The i4 is a lovely luxury electric sportback with great handling, lots of speed, a nice BMW interior and impressive EV tech. We only wish its infotainment system were more user-friendly.

    Score: 8.0

    What it competes with: Polestar 2, Tesla Model 3

    Pros: M50 is wicked-quick, utilitarian with a hatchback, excellent handling, solid EV tech

    Cons: Looks aren’t for everyone, frustrating infotainment system, limited backseat space

    From the editors:

    Road Test Editor Zac Palmer — “I drove the M50 version of the i4, and the performance is shocking. This EV has acceleration to match or better an M4. Meanwhile, its chassis and suspension setup is more compliant and daily driver-friendly like an M440i Gran Coupe. I really came to like the i4 over the course of a weekend with it, as the car seems like an ideal EV for someone who wants performance, luxury that can be enjoyed without any major drawbacks.

    Senior Editor James Riswick — “It’s easy to dismiss the i4 because its just an electric 4 Series Gran Coupe, but look at the numbers. The combination of performance, range and price is hard to beat in a car that’s actually luxurious. It deserves more attention than it gets.

    In-depth analysis: 2022 BMW i4 Review | Pleasingly normal, delightfully fast

     

    2022 Hyundai Kona N

    Quick take: The Kona N is a silly and fun car to drive, and while its interior is subpar, being behind the wheel is going to make any enthusiast smile.

    Score: 7.5

    What it competes with: Mini Countryman JCW, VW GTI, Mazda CX-30 Turbo

    Pros: Hilariously good sounds, capable handler, great performance tech

    Cons: Cheap-feeling interior, small cargo and passenger space

    From the editors:

    Road Test Editor Zac Palmer — “This little crossover is the answer to a question I’ve been wondering about for a long while. Why doesn’t every non-luxury brand make performance SUVs, too? They’re a dime a dozen in luxury brand lineups, but Ford and Dodge are the only ones with toes fully dipped into performance for its big vehicles. The Kona N is proof you can put together a wildly fun package in a popular body shape for an affordable price. And sure, the diehards will still go for something like an Elantra N, but I’m never going to complain about more performance vehicle options.”

    Senior Editor James Riswick — “We should all be prepared for more cars like the 2022 Hyundai Kona N, because if we want the hot hatch to survive, we’re going to have to come to grips with the fact that they won’t actually be cars anymore. They’ll be crossovers. And sure, the Kona N is 6 inches taller and 100 pounds heavier than the Veloster N with which it shares much, but let’s not let the quest for perfection get in the way of appreciating mere greatness. Because, indeed, the Kona N is great.”

    In-depth analysis: 2022 Hyundai Kona N First Drive Review | It has a hatch, and it’s hot

    2022 Lexus LC 500/LC 500 Convertible

    Quick take: The LC is a car that hits every feel-good button for a car enthusiast. It’s unquestionably beautiful, sounds like pure bliss, handles surprisingly well and will eat up the miles as a grand tourer. This car is as close to perfect as they come.

    Score: 8.5

    What it competes with: BMW 8 Series, Porsche 911, Jaguar F-Type

    Pros: Stellar looks, crazy-good sound, beautiful interior

    Cons: Frustrating tech, not for acceleration fiends

    From the editors:

    Road Test Editor Zac Palmer — “If I had to choose just one car to do it all (and didn’t have to contend with snow), a Lexus LC 500 would be parked in my driveway. It excels in every situation, and is an ideal happiness generator. I don’t really care that the trunk is tiny or that the infotainment system is poor. The 5.0-liter V8 engine, snappy gear changes, quick and precise steering and impossibly good looks make up for any and all shortcomings. Either the Coupe or Convertible would do — both are stupendous cars.

    In-depth analysis: 2021 Lexus LC 500 Convertible First Drive | Is less roof better?

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  • Fixing inefficient oil field flaring could drastically reduce methane emissions

    Oil and gas companies regularly use flaring (that is, burning unwanted methane) to limit the amount of natural gas escaping into the atmosphere, but the practice might not be as kind to the planet as previously thought. Scientists at the University of Michigan, Stanford and elsewhere have discovered that flaring is much less effective than the industry assumes, and puts out five times more methane (a strong greenhouse gas) than predicted.

    Companies and governments act on the belief flares are always lit and burn off 98 percent of methane. However, aerial surveys of three US basins (where 80 percent of American flaring takes place) have revealed that the flares aren’t lit up to 5 percent of the time, and operate inefficiently when they’re active. In practice, the flaring efficiency is just 91 percent. That may not sound like a big dip, but it signifies that there’s a large volume of unaccounted-for methane contributing to climate change.

    There is an upside to the findings. Flaring’s problems are “quite addressable” with better management, lead researcher Genevieve Plant said, and a solution would offer an equivalent emissions reduction to removing 3 million cars. To put it another way, this could be one of the easiest ways to keep methane in check and limit global warming. The challenge is to have companies and governments work in harmony — that’s not guaranteed, even if the fix is relatively straightforward.

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  • Cadillac recalls 186 Lyriq EVs over touchscreen shutdown issues

    Cadillac just released its first EV, the Lyriq, and it’s already issued a stop-sale order after an issue with the infotainment touchscreen. People often joke that early tech adopters are just unpaid beta testers for new products, and unfortunately, it seems a few EV buyers are finding that saying sometimes also applies to new vehicles.

    Thankfully for Cadillac and its buyers, the Lyriq really is brand-new, so there aren’t many roaming the streets. The recall includes just 186 units, but we don’t have quarterly sales numbers to compare. Employees noticed a blank touchscreen in a Lyriq sitting at GM’s factory in Spring Hill, Tennessee. The automaker says that the system occasionally initiates software updates while the vehicle is parked, and if someone interrupts the process by opening a door, the screen can shut off.

    General Motors opened an investigation on August 19 and expanded to include field data that found 16 related incidents in the wild. The last incident was reported on September 14, and the automaker made the decision to recall affected Lyriq models a day later. GM set out to identify Lyriqs with the issue and will hold vehicles at the factory until there’s a fix.

    Cadillac’s current fix for the issue? Turn the vehicle off and on again (have you tried rebooting?). Seriously. A more permanent fix will come in the form of an over-the-air software update that will take place after November 7, when the automaker says it will begin notifying customers.

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