📰 Auto Loan Squeeze, EV Safety Wins, and Big Shifts in the Industry: Your Must-Read Automotive News Digest

Auto Credit Tightens: What’s Going on With Your Car Loan?

If you’ve been feeling the squeeze on your auto loan options, you’re not alone. Auto credit availability dipped in August, with the Dealertrack Credit Availability Index falling to 92.5, down 0.5% from July. What’s causing the squeeze? Shortened loan terms, higher yield spreads, and a general tightening across the board—especially for credit unions.

Surprisingly, subprime loan shares rose for the first time since March, while approval rates continued to drop. So, while more subprime loans were available, fewer overall approvals were granted. It’s a mixed bag for consumers trying to finance that new (or used) car.

With consumer confidence on the rise, it’s odd to see credit access shrink. But with rising interest rates and tighter loan terms, the auto market remains a challenging landscape for buyers. For now, patience and good credit might be your best assets if you're hunting for a deal.

Rivian R1T Earns Top Safety Pick+ for 2024

The all-electric Rivian R1T pickup is the only vehicle in its category to earn the prestigious IIHS Top Safety Pick+ award for 2024.

• Award: Third consecutive year winning IIHS Top Safety Pick+

• Safety Ratings: "Good" in all categories except pedestrian crash prevention ("Acceptable")

• Price: 2024-2025 models start around $70,000

• Tech Updates: Over-the-air updates for continuous improvements

• Impact: Highlights the increasing role of EVs in road safety advancements

Cylib’s Battery Recycling Plant: Europe’s Green Revolution

Imagine a world where your car’s old battery is reborn, and the planet gets a little less toxic. That’s Cylib’s vision. Backed by Porsche and Bosch, Cylib is building Europe’s largest battery recycling plant in Dormagen, Germany, set to open in 2026. The goal? Recycle 30,000 metric tons of EV batteries annually, turning waste into something useful.

This €180 million plant will employ water-based lithium and graphite recovery techniques to help Europe meet its sustainability goals. Strategically located in Chempark, the facility is perfectly poised to leverage existing supply chains and lead the charge toward a circular economy for EVs.

Cylib’s ambitious project isn’t just another recycling plant—it’s a game-changer. With Porsche and Bosch backing the venture, this could very well set the standard for how Europe handles the EV boom and the inevitable battery waste that comes with it.

Is Volkswagen really ending job guarantees? What does that mean for the workers?

Yep, Volkswagen is officially pulling the plug on decades-old job guarantees at six German plants. Starting in June 2025, layoffs could be a reality as VW tries to cut costs and keep up with cheaper Asian rivals. Worker unions? They’re already sharpening their pitchforks.

What’s this about old labor agreements coming back?

If no deal is reached by next summer, Volkswagen could revert to pre-1994 labor agreements. Translation: pay raises for workers and the exciting new possibility of layoffs. Because nothing says “job security” like a raise right before you're shown the door.

Are layoffs avoidable?

Unions are proposing a four-day workweek as a magical solution to avoid cuts. But who knows if that’s enough to satisfy VW’s cost-cutting spree. Negotiations could kick off early, but don’t expect any kumbayas just yet.

Chopping Down Tall-Hood Truck?

The days of towering truck hoods might be numbered, thanks to new pedestrian safety proposals from NHTSA. Picture this: trucks and SUVs designed to be safer for pedestrians, using simulations of head-to-hood impacts with dummies ranging from children to adults. The goal is to cut down on the increasing number of pedestrian fatalities.

NHTSA estimates these new rules could save 67 lives annually by requiring trucks and SUVs under 10,000 pounds to lower their hood height and rethink their design. It’s a small change for the vehicle, but a giant leap for pedestrian safety—especially as larger vehicles dominate the roads.

The proposed rules align with global safety standards and are a significant step toward safer streets for both drivers and pedestrians. Who knew the future of truck design could be influenced by something as simple—and as critical—as the height of a hood?

Is Jaguar finally doing something with their EV transition, or is this just another delay?

Jaguar is finally doing something, but at a pace that makes you wonder if they’re building suspense on purpose. The first major step is a sleek four-door electric GT, priced at a humble £100,000. Because obviously, that’s what the world’s been waiting for.

Why is Jaguar dragging their feet?

Turns out, reinventing an entire brand isn’t as easy as it sounds. Jaguar’s "Reimagine" strategy has been in the works for three years, with a goal of competing with Porsche and Bentley. So yeah, fewer cars, more exclusivity, and definitely more stress for everyone waiting.

What’s next for Jaguar?

By 2025, they’re planning to go all-in on electric. The hope is their new ultra-luxury EV lineup will impress buyers who might still be on the fence about going electric. Frustration levels? Still high. But hey, luxury comes with a price—especially when that price is waiting.

Toyota’s Solid-State Battery Production Approved

Toyota’s solid-state battery production plans have been approved by Japan’s government, with mass production targeted for 2030.

• Production Start: 2026, ramping up through 2030

• Key Features: 10-minute full charge, 621-mile range (750-mile future upgrade)

• Investment: Government-supported large-scale facility investments in Japan

• Impact: Toyota’s breakthrough could lead to a new era of electric vehicle performance and efficiency 

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