03/11/24 - GM starts selling Chevy Blazer EVs again 🚗, Turo is still ready for an IPO, Should Apple Buy Rivian? 🏭

GM. Rev up your day with the latest automotive news and insights delivered to your inbox in our exclusive newsletter! What we cover in today’s edition:

• 🚗 Car reveal/review: 

  • GM starts selling Chevy Blazer EVs again, cuts prices up to $6,250

  • R2/R3 event impressions – Rivian gets the details right

  • 2024 Audi Q4 e-tron Gets More Power And Range Without A Price Hike

• 🏭 Industry trend: Profitable car rental service Turo is still ready for an IPO, Should Apple Buy Rivian? Why the EV startup is ripe pickings for Tim Cook

• 😄 Fun read: What Is a Mild-Hybrid Vehicle?, CarMax Report Reveals Used Car Loyalties

GM starts selling Chevy Blazer EVs again, cuts prices up to $6,250 (3 mins read)

The Chevrolet Blazer EV relaunches after software issues, now eligible for full $7,500 tax credit. Initial price cuts include the LT at $50,195 and the RS at $56,175. Software updates address charging bugs and UI. Original $44,995 version canceled, leaving the LT at $56,715 and RS at $60,215. Available since CES 2022, deliveries began in August 2023 with 463 units sold. Read more.

R2/R3 event impressions – Rivian gets the details right (11 mins read)

Rivian's recent unveiling in California showcased the R2 and surprise R3 models, earning praise for their innovative features. The R2 impressed with a slide-down rear glass, flip-up table, and slide-out cargo floor, while the R3, inspired by '80s rally cars, intrigued enthusiasts. Though pricing details were scarce, excitement surrounds both models, reflecting Rivian's commitment to practical yet cutting-edge EV design. Following the launch event, Rivian's stock price experienced a positive reaction. Read more.

2024 Audi Q4 e-tron Gets More Power And Range Without A Price Hike (3 mins read)

The 2024 Audi Q4 e-tron debuts in the US with upgraded power, range, and pricing. Priced at $55,200 for the Q4 55 e-tron and $58,200 for the Sportback variant, it retains its previous pricing despite enhancements. With 40 more horsepower, achieving 60 mph in five seconds, and a range of 258 miles, the model offers improved performance. Additional features include enhanced suspension, steering, and an 82 kWh battery with faster charging capabilities. Read more.

Profitable car rental service Turo is still ready for an IPO, but its growth cratered in 2023 (4 mins read)

Turo, a peer-to-peer car rental service, filed updated IPO documents, revealing revenues of $879.8 million in 2023, marking 18% growth but a slowdown from previous years. While profitable, Turo faces investor concerns about declining growth and profitability. Despite profitability and strong revenue, it delays its IPO, possibly awaiting growth rebound or improved market conditions. Read more.

Should Apple Buy Rivian? Why the EV startup is ripe pickings for Tim Cook (6 mins read)

Rivian's R.J. Scaringe unveils the R2 SUV and surprises with the R3 and R3X in Laguna Beach. Rivian stock rose post-launch, prompting speculation. Apple's potential acquisition of Rivian, amid EV market uncertainty, could align with Tim Cook's environmental focus and provide Rivian resources to compete with Tesla. Scaringe's focus on EVs and Apple's tech goals suggest synergy. An acquisition could bolster Rivian's market presence and provide Apple with compatible vehicles. Read more.

What Is a Mild-Hybrid Vehicle? (3 mins read)

This article discusses the evolution and benefits of mild-hybrid vehicles, exploring their operation, cost-effectiveness, and technological advancements. From explaining their differences from traditional hybrids to highlighting specific examples like GM's eAssist, it sheds light on how mild hybrids are reshaping the automotive landscape. Read more.

CarMax Report Reveals Used Car Loyalties (3 mins read)

CarMax, with over 240 US locations, analyzes trends in used car buying from 2023, noting brand loyalty shifts. Toyota tops loyalty (28.5%), led by Prius owners. Mercedes-Benz and Lexus follow. SUV demand remains high, with 71% loyalty, while pickups hold 45.9%. Tesla's entry indicates an electric vehicle trend, affecting brand loyalty. Dodge and Kia show lowest loyalty. Read more.