VinFast Has Sold Tons of Cars This Year… To Itself?
Despite overwhelmingly negative reviews and significant drops in its stock price, it appears that Vietnamese electric car manufacturer VinFast has not had trouble moving cars so far in the US. That is, until you look beyond the surface a little bit.
According to a new filing with the Securities and Exchange Committee (SEC), VinFast delivered over 11,300 units in the first half of 2023, with 9,535 in the second quarter alone. Normally, that would be amazing news for a new-to-market product; for comparison Tesla only delivered about 20,000 Model S sedans in the first two years of production.
However, the SEC filing along with a report from Barron’s shows that more than 7,000 vehicles were purchased by taxi company Green and Smart Mobility. When you do a little bit of research into Green and Smart Mobility, you’ll find them to be owned by Vingroup, also known as the parent company of VinFast.
All three companies are controlled by Vingroup’s former chairman, Pham Nhat Vuong. Of the 2.3 billion outstanding shares of VinFast, 1.2 billion are currently held by Vingroup. Another 1.1 billion are owned by Vietnam Investment Group and Asian Star, two investment entities owned by Vuong. Essentially, the industrialist owns 99.7 percent of VinFast stock, as well as roughly 51 percent of Vingroup.
In a nutshell, over 60 percent of all vehicles VinFast has delivered so far this year have effectively been sold to themselves. The company recently began taking reservations for its new VF9 SUV, so it remains to be seen whether true consumer success is possible. Either way, VinFast is in a very weird position as an automaker — one that we’ve never really seen before.
UAW Strike Adds Over Three Dozen Parts Distribution Centers
On September 15, the United Auto Workers began a strike against the Big Three, Ford, General Motors, and Stellantis, as employees’ contracts with the automakers expired.
Initially, the strike affected one major production facility from each automaker — Ford’s Michigan Assembly Plant, GM’s Wentzville Assembly Plant, and Stellantis’ Toledo Assembly Complex. In total, around 13,000 UAW members between the three walked out.
At the time, UAW President Shawn Fain said that the strike was of a tactical nature and would likely expand to other plants if agreements were not reached in a timely manner. He calls the accelerating and cherry-picked job actions a “Stand Up” strategy designed to keep the companies off-balance and guessing in the union’s pursuit of a record contract to make up for concessions in the past year.
As of Friday, September 22, Fain directed unionized employees at 38 different GM and Stellantis parts distribution centers to walk off the job at noon EST. The expansion does not hit Ford parts centers because talks with the Blue Oval are reportedly progressing at a faster pace than the others. Ford has also reached a tentative agreement with Unifor, which represents workers in Canada.
In addition to the other affects of the strike discussed last week, this week’s action will directly affect consumers in need of vehicle repairs. As for what’s next, time will tell. Stay tuned for further updates.
New IIHS Tests Produce Shocking Results For Minivan Rear Seat Safety
Currently, there are only four minivans on sale in the United States: the Chrysler Pacifica, Kia Carnival, Honda Odyssey, and Toyota Sienna. And what’s the one thing they all have in common? None have achieved more than a “Marginal” rating for overall vehicle safety after recent testing from the IIHS.
The IIHS, or Insurance Institute for Highway Safety, has released updated crash test results that feature an increased focus on rear-passenger protection. The new test includes an additional dummy seated in the rear seat on the driver’s side. While the driver dummy is the size of an average adult man, the rear dummy is the size of a small woman or 12-year-old child.
Researchers also developed new metrics that focus on the injuries most frequently seen in back-seat passengers. According to the IIHS report, “for a vehicle to earn a good rating, there can’t be an excessive risk of injury to the head, neck, chest or thigh, as recorded by the second-row dummy. The dummy should remain correctly positioned during the crash without ‘submarining,’ or sliding forward beneath the lap belt, which increases the risk of abdominal injuries. The head should also remain a safe distance from the front seatback and the rest of the vehicle interior, and the shoulder belt should remain on the shoulder, where it is most effective. A pressure sensor on the rear dummy’s torso is used to check the shoulder belt position during the crash.”
All four minivans provide good protection for those in the front seats, but each has multiple issues when it comes to the back row. Of the four, the Honda Odyssey received the worst score; the rear dummy experienced significant forces on the head and neck, and the seatbelt allowed far too much forward motion.
These results are particularly embarrassing for a vehicle segment coveted by families across the country. “Back seat safety is important for all vehicles, but it’s especially vital for those, like minivans, that customers are choosing specifically to transport their families,” said IIHS President David Harkey. “It’s disappointing that automakers haven’t acted faster to apply the best available technology to the second row in this vehicle class.”
Latest Android Auto Adds Zoom And Amazon Prime Video In Cars
Automakers spend millions of dollars designing infotainment systems for their vehicles, but consumer preference tends to increasingly lean toward third-party systems such as Apple CarPlay and Android Auto.
Furthering this, Android Auto’s latest updates add several new features that are packaged with the smartphone you already have with you. Users can now improve productivity in the car with Webex and Zoom added to the list of included apps. Of course, virtual meetings from the driver’s seat will be audio-only for safety, but the ability to join conference calls directly from your car will be a huge benefit for many.
Vehicles with built-in Google, such as Volvo and Polestar EVs, also get new entertainment options. Many drivers often find that charging stations aren’t always the most conveniently located, and waiting to charge can be quite boring. Rolling out for Volvo and Polestar vehicles (and Renault, overseas), a new Prime Video app allows streaming while parked, similar to how Tesla includes Netflix capability. There’s also a new Vivaldi internet browser for web surfing.
Lastly, Google is also expanding its availability of digital vehicle keys. For certain Hyundai, Kia, and Genesis vehicles, the use of a Pixel or Samsung phone now allows users to unlock and start their vehicles with just their phone. You can also send the digital key to other phones, if other people frequently drive your car.
While some of these new features are tied to specific vehicle brands, Google says a wider rollout will be coming soon. Still, the industry appears to be continuing to work towards standardized vehicle infotainment, which is a very good thing.
Hyundai Files Trademark Hinting At New Sports Car
Last year, Hyundai wowed the car world with the N Vision 74 Concept, a retro-styled sports coupe with a 670-horsepower hybrid fuel-cell powertrain. It didn’t take long for people to start asking what it would take for Hyundai to build a production version.
Unfortunately, at the time, Hyundai-Kia executive technical advisor Albert Biermann told Car and Driver “It is hard for me to see us doing it; at this moment we don’t need such a car.” On the other hand, though, Till Wartenberg, Hyundai’s vice president of N brand management and motorsport, has other ideas, telling the Autopian that he wants to see the Vision 74 in production. “My personal wish is to produce this vehicle,” Wartenberg said. “It’s at first probably an investment, but if we could see this vehicle really out there and people buying it, I would be very happy.”
While a production car still hasn’t been officially confirmed, on September 20 the automaker filed a trademark request with the European Union Intellectual Property Office for “Hyundai N74.” The application’s classification covers “automobiles, sports cars, vans, motor trucks, motor buses, and electric vehicles,” meaning the filing is for more than just the name itself. According to the EUIPO, the request is still under examination.
Even if not all of the concept car’s racecar styling and futuristic FCEV drivetrain make it to the real world, a retro-inspired, rear-wheel-drive Hyundai sports car would still be an exciting proposition. The other N division products have been incredibly well received, so we can only hope.
Volkswagen ID.4 And Audi Q4 e-tron Get More Power, More Range
For 2024 and 2025, Volkswagen is addressing two big complaints with its entry-level electric SUVs, the ID.4 and its Audi sibling, the Q4 e-tron. Both cars get new electric motors, resulting in increased power output and driving range.
The updates only apply to models equipped with the 77-kWh battery pack, which is optional on the ID.4 and standard on the Q4. Both rear-wheel-drive and all-wheel-drive powertrains get a healthy power bump; the RWD ID.4 and Q4 40 now produce 282 horsepower, up from 201, while the AWD ID.4 and Q4 50 are up to 330 from 295. Both cars were previously criticized for lackluster acceleration compared to rivals, so these increases should help significantly.
Currently, the ID.4’s range varies between 255 and 275 depending on configuration. Revised EPA estimates aren’t available yet, but incremental increases are expected. On the other hand, the Q4 e-tron is rated slightly lower, between 236 and 265, but those numbers should also go up. Audi also says the peak charging rate has been raised from 150 kW to 175 kW across the board.
Additionally, the Audi features a few technology upgrades, while the VW gets minor interior and cosmetic updates. The Q4 e-tron will now be capable of assisted lane changes when using the adaptive cruise control system over 56 mph, similar to Tesla’s Enhanced Autopilot or GM’s Super Cruise. The Q4 will also now have a post-conditioning feature for the battery, cooling the battery if it exceeds a temperature limit after driving or charging. In the Volkswagen camp, 21-inch wheels and a 12.9-inch infotainment screen are now available on top trims, with revised steering wheel and shifter designs on all versions.
In the US, the updated Volkswagen ID.4 will go on sale for the 2024 model year, with deliveries starting in just a few months. European buyers will be able to purchase the revised Audi Q4 e-tron starting next month, but it won’t reach our shores until the 2025 model year. Pricing has not yet been announced. for either one.
Nigel Mansell’s Collection of Random Stuff Up For Auction
For most people, spring cleaning involves tidying up the house or apartment by getting rid of random junk you don’t need or want anymore. On the other hand, if you’re one of England’s most famous mustache-wearing racing drivers, it involves an entire Southeby’s auction of rarities. And for some reason, it takes place at the beginning of autumn.
Following up on last year’s sale of two of his Formula 1 cars, the Nigel Mansell Legacy Collection features 329 lots of delightfully random and weird collectibles and personal belongings.
According to RM Sotheby’s, “the collection includes some of the most important items of his career, including all the significant trophies won during his time spent racing in Formula One and IndyCar, including his 1992 and 1993 championship years in both those series. The collection also includes numerous race-worn helmets, race suits, boots, gloves, paddock and promotional clothing, podium caps, steering wheels, and even motorcycles.”
Of course, there’s lots of Scuderia Ferrari-branded items, and one of our favorites is the pit bike pictured above. It’s a 1988 Honda ST-70, and was genuinely used by Mansell during his time at Ferrari. There are photos out there of him giving fellow world champion Alain Prost a ride around the paddock at the British Grand Prix.
If you prefer Williams memorabilia, there’s no shortage of that either. As previously mentioned, several racing suits are on offer, but the most unique is a set of six wheels and tires from an F1 car, one of which is signed, “Happy birthday Nigel, lollipops for ever.” No further explanation is provided, or frankly needed.
Bidding for the collection opens at 4PM BST on October 4, 2023. Lots 101-279 close at 4PM on October 10, and 301-450 close at the same time on the 11th. All are offered with no reserve price.
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