Inside the Industry

Tesla raises Model Y prices $1,000, but prices still down from January

(February 7, 2023) Tesla has raised prices in the United States of its best-selling vehicle, the Model Y, by $1,000 after the government raised the ceiling on the price of crossover electric vehicles eligible for tax credits. Tesla increased the price of the Model Y Long Range to $54,990, and the Model Y Performance to $57,990, a $1,000 increase each, according to current and previous prices posted on its website, according to Automotive News.

Mecum Las Vegas motorcycle auction hits $24 million

(February 6, 2023) Mecum Auctions added to the momentum from the record-setting $234 million in sales at the recent Mecum Kissimmee 2023 auction with an additional $24 million in sales and a 90% sell-through rate achieved at the Mecum Las Vegas Motorcycles 2023 auction, held Jan. 24-28. Together, the two events culminated in a grand total of $258 million in overall sales for the month of January, making it Mecum Auctions’ highest-grossing month in its 35-year history.

Pre-war dream cars offered at final RM Sotheby's Amelia Island auction

(February 4, 2023) AMELIA ISLAND, Fla. — RM Sotheby’s final Amelia Island sale adds a pre-war collectors dream garage with stunning offerings from A Private Collection, a group of cars consisting of 10 pre- and post-war examples from American Classics to European Sports Cars. The Private Collection will cross the block on March 4 alongside other specially curated automobiles.

VW’s ID.4 will be featured in Marvel Studios’ new movie

(February 3, 2023)  Marking the release of Marvel Studios’ “Ant-Man and The Wasp: Quantumania,” in U.S. theaters starting Feb. 17, Volkswagen is launching a global 360-degree campaign that puts the ID.4 in the limelight with custom content. The cooperation is based on the product placement of the all-electric vehicle as the Super Hero’s family car in the upcoming film.

Honda East Liberty auto plant begins mass production of 2023 CR-V hybrid

(February 3, 2023) EAST LIBERTY, Ohio — Associates at Honda's East Liberty Auto Plant (ELP) on Thursday celebrated the beginning of mass production of the all-new 2023 Honda CR-V hybrid, following up on its launch of the gasoline-powered CR-V Oct. 26. The CR-V hybrid, which was launched in North America at Honda of Canada Mfg. (HCM) in October, features a new two-motor hybrid system produced at Honda's Ohio Transmission Plant (TMP-OH), and a newly refined Atkinson-cycle engine unique to hybrid models that is made at the Anna Engine Plant (AEP) in Ohio.

Bugatti Chiron Profilée most valuable new car ever auctioned — $10,673,825

(February 3, 2023) PARIS — The Bugatti Chiron Profilée, a one-of-a-kind piece of Bugatti history and the last W16-powered car available from the Atelier, has sold for an incredible price of 9,792,500 Euros net ($10,673,825). The sale at the RM Sotheby’s auction which took place in Paris on Feb. 1 makes the Chiron Profilée the most valuable new car ever sold at auction.

Mattel marks Matchbox 70th Anniversary with Limited Edition toy vehicles

(February 2, 2023) LONDON — Mattel is commemorating the 70th Anniversary of the Matchbox brand and seven decades of die-cast adventures by reflecting on its legacy and looking to the future. To celebrate, the brand is introducing a line of special limited-edition vehicles, paying tribute to Matchbox’s heritage of inventing highly detailed and realistic vehicles that have inspired generations of kids while remaining a trusted brand for collectors. Matchbox unleashes kids' innate desire for freedom to explore the world so that they can discover their independence.

Range Rover Velar refreshed for 2023 starting at $61,450

(February 2, 2023) MAHWAH, N.J. — The New Range Rover Velar is a pure expression of modern luxury, featuring the latest technology, hallmark Range Rover refinement and a dramatic, clean and reductive new design. A new grille combines with the characteristic floating roof, unbroken waistline and flush deployable door handles that define the world’s most desirable luxury SUV family. New headlights provide a technical, jewel-like appearance and optimized visibility while the exterior is enhanced by a new lower rear bumper and dark accents.

Added equipment and fresh design for Mercedes-AMG GLE SUV, GLE Coupe

(February 1, 2023) Mercedes‑AMG is upgrading its successful GLE SUV and GLE Coupe model range for 2024, arriving at U.S. dealerships in 2023. From the front, the AMG vehicles can be recognized by the newly designed LED daytime running lights. The GLE 53 models also receive a revised front fascia with expressively shaped side air intakes in an inspired jet‑wing design. Thanks to this powerful appearance, they move visually closer to the range-topping GLE 63 S models.

MotorTrend celebrates 75 years of Hot Rod with five-city tour

(February 1, 2023) LOS ANGELES — MotorTrend Group has announced the 2023 HOT ROD Power Tour in celebration of HOT ROD’s 75th anniversary. The HOT ROD Power Tour Driven By Continental Tire will be heading south to Georgia, the Carolinas and Tennessee visiting five cities over five days in June.