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Jan 2022

Stellantis Early Order Cut Offs

Due to unprecedented demand, Stellantis Fleet has announced the 22MY Order cut off:

Immediately for:

  • 22MY Jeep Compass Sport FWD and 4×4 (MPTL, MPJL)
  • 22MY Jeep Cherokee Altitude FWD and 4×4 (KLTE, KLJE)
  • 22MY Jeep Renegade Sport 4×2 and 4×4 (BVTL, BVJL)

Effective Friday, January 21st, 2022 for:

  • All other 22MY Jeep Compass (MP) models
  • All other 22MY Jeep Cherokee (KL) models
  • All other 22MY Jeep Renegade (BV) models

Stellantis Fleet will attempt to accommodate all orders submitted on time, defined by time zones order sweep, on Friday, January 21st 2022, however, cannot guarantee production nor offer price protection.

Jan 2022

Used Vehicle Market Conditions

Average wholesale prices softened modestly through year-end after reaching new highs in early November. Prices remained dramatically higher than a year-ago and at pre-pandemic levels, as demand continues to outstrip supply.

According to KAR Global Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale prices in November averaged $16,163, down 0.9% compared to October, up 32.9% relative to November 2020, and up 48.0% versus pre-COVID/November 2019. Wholesale prices in December averaged $16,026, down 0.8% compared to November, up 34.8% relative to December 2020, and up 48.1% versus pre-COVID/December 2019. The year-end price moderation generally affected all model classes equally but left prices for all segments well above year-ago and pre-pandemic levels.

Based on NADA data, retail used vehicle sales by franchised and independent dealers in November (latest available) were down 7.9% month-over-month but up 11.4% year-over-year. Year-to-date through November, sales were up 9.7% versus 2020 and up 1.9% compared to 2019/pre-pandemic levels. CPO sales fell 16.5% month-over-month in November and recovered only modestly (up 2.5% m/m) in December, according to figures from Autodata. CPO sales on a year-to-date basis through December, were up 5.1% compared to 2020 but down 2.5% versus 2019.

Jan 2022

Record Set in 2021 for U.S. Used Vehicles

The number of used vehicles sold in the U.S. in 2021 hit an all-time record, according to Cox Automotive. They estimated that overall used-vehicle sales for 2021 were 40.9 million, an increase of about 10% compared with 2020.

The used-car market will remain strong in spring 2022, but it will “struggle to see any change in volumes” compared with the record amounts last spring, Cox Automotive Chief Economist Jonathan Smoke said. Cox Automotive, in a preliminary forecast, said it is predicting 2022 volume will come in at 39.3 million used-vehicle sales in total.

Cox Automotive analysts said they expected used volume to soften more in subsequent years as reduced new-vehicle production in 2020, 2021 and 2022 cuts down the number of vehicles available for the used market.

Jan 2022

GM to Launch Used-Vehicle Platform

General Motors this spring will launch CarBravo, a shopping platform designed to boost used-vehicle sales through GM dealerships.

“CarBravo will give customers more choice and access to shop significantly expanded inventories of both the dealer and a national central stock of GM used vehicles. Importantly, the program features will also be offered on non-GM used vehicles,” Steve Carlisle, president of GM North America, said in a statement. “CarBravo is designed to provide customers the convenience to shop how they want, where they want — online, at the dealership or both.”

Jan 2022

2021MY EMKAY Orders Due

Ford Ecosport – ASAP
Chevy Colorado – ASAP
GMC Canyon – ASAP
Chevy Silverado HD Reg, HD Dbl, and HD CC – 1/13/22
Chevy Suburban – 1/13/22
Chevy Tahoe – 1/13/22
GMC Sierra HD Reg, HD Dbl, and HD CC – 1/13/22
Cadillac Escalade & ESV models – 1/13/22
GMC Yukon and Yukon XL models – 1/13/22
Chevy Express Van – 1/20/22
GMC Savana – 1/20/22
Chevy Camaro – 2/17/22
Chevy Corvette – 2/17/22

Canada Government Increased Leasing Deduction Limit for First Time in 20 Years

The Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2022.

• The ceiling for capital cost allowances (CCA) for zero-emission passenger vehicles will be increased from $55,000 to $59,000, before tax, in respect of vehicles (new and used) acquired on or after January 1, 2022.
• The ceiling for CCA for passenger vehicles will be increased from $30,000 to $34,000, before tax, in respect of vehicles (new and used) acquired on or after January 1, 2022.
• Deductible leasing costs will be increased from $800 to $900 per month, before tax, for new leases entered into.
• The limit on the deduction of tax-exempt allowances paid by employers to employees who use their personal vehicle for business purposes in the provinces will increase by two cents to 61 cents per kilometre for the first 5,000 kilometres driven, and 55 cents for each additional kilometre. For the territories, the limit will also increase by two cents to 65 cents per kilometre for the first 5,000 kilometres driven, and 59 cents for each additional kilometre.
• The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their employers will be increased by two cents to 29 cents per kilometre. For people who are employed principally in selling or leasing automobiles, the rate used to determine the employee’s taxable benefit will be increased by two cents to 26 cents per kilometre.

These changes reflect recent increases in the Consumer Price Index (CPI). The maximum allowable interest deduction for new automobile loans will remain at $300 per month for 2022 as it continues to be appropriate to prevailing interest rates.

Jan 2022

Tesla Recalls 475k Vehicles

Tesla Inc. is recalling more than 475,000 of its Model 3 and Model S EVs. The EV maker is recalling 356,309 2017-2020 Model 3 vehicles to address rearview camera issues and 119,009 Model S vehicles due to front hood problems, the National Highway Traffic Safety Administration said.

Dec 2021

Ford Recalls 185k F-150s

Ford Motor Co. is recalling 184,698 F-150 vehicles from the 2021 and 2022 model years because the driveshaft, which transfers torque to other parts of the vehicle, may become fractured.

In a safety recall report filed with NHTSA, the automaker said heat and noise insulators on the underbody of the vehicle could loosen and make contact with the aluminum driveshaft, which could damage it.

“A compromised driveshaft could cause a loss of drive power and increase the risk of a crash,” Ford said. A broken driveshaft dragging on the ground may interfere with wheels turning properly, which could lead to a loss of vehicle control. Ford said dealers will inspect and repair the driveshaft if needed and fully attach underbody insulators. The automaker said owner notification letters were expected to be mailed Jan. 31st.

Dec 2021

Chevy Bolt Delayed Through February

General Motors said it is extending a production halt at its Orion Assembly plant in Michigan, which makes the Chevrolet Bolt EV, through the end of February.

The largest U.S. automaker in August widened its recall of the Bolt to more than 140,000 vehicles to replace battery modules after a series of fires. Earlier this month it extended its production shutdown through late January. GM has also indefinitely halted retail sales of new Bolt vehicles. The National Highway Traffic Safety Administration has an ongoing investigation into the battery fires. The agency noted in August that all Chevrolet Bolt EVs had been recalled due to the risk of the high-voltage battery pack catching fire.

Dec 2021

Stellantis Cuts Off 22MY Dodge Durango

Due to unprecedented demand, Stellantis Fleet must announce the early order cut off, effective Wednesday, December 8th, 2021, for the 22MY Dodge Durango.

Stellantis Fleet will attempt to accommodate all orders submitted on time, defined by your time zones order sweep, on Wednesday, December 8th 2021, however, cannot guarantee production nor offer price protection.