🗓️ January Data w/ Cox, GM's Full Year, and Honda's Sub-30K EV

January 28, 2025

The Gist

🏔️ Tracks, But Make It Luxury
Genesis slapped tank treads on the GV60 EV, packing rescue gear and fancy tech. Snowmobile who? This concept screams, “EVs can be ruggedly chic.”

🚀 RAV4? RAV More
Toyota’s 2026 model goes flatter and greener, sticking to the well-loved formula. No radical leaps—just the trusted, tweaked, and thoroughly top-selling RAV4.

🔌 Lucid & Tesla: Supercharging Buddies
Gravity SUVs will guzzle electrons at Tesla stations, possibly hitting 400 kW. Range anxiety? More like range “bye-bye.”

📈 Icy Forecast, Hotter Sales
Cox Automotive expects January new-car sales to rise 5%, even with frosty weather. Don’t break out the confetti—inventory’s still tight, but better than last year.

💰 GM Survives, Equinox EV Shines
Q4 revenue jumps 11%, net income slips from China woes and robotaxi cuts. Equinox EV leads GM’s profitable electric pivot, though tariffs loom.

🌏 VW & China: Europe’s Odd Couple
Volkswagen eyeing joint expansions with Chinese partners—like neighbors sharing sugar. Any U.S. impact? Maybe soon, as competition rarely stays put.

🚗 BMW Feels the Margin Pinch
Inflation and inventory woes drag profits. Luxury or not, BMW’s playing defense until market storm clouds clear.

❄️ Norway: 100% EV—No Biggie
Incentives galore catapulted them from 1% to near-total electrification. U.S. dealerships, take note: policy power can sway entire markets.

⚗️ Oklahoma’s Big Lithium Bet
A $1.2B refinery promises domestic supply, stabilizing EV battery costs. Fewer imports? Bring it on—dealers want those EVs on lots.

🏎️ Honda’s Affordable EV Dream
Under $30k by 2026? Bold. If range and features line up, Honda might just supercharge mainstream EV adoption in America.

Fuel For Thought

🏔️ Genesis Vs Snow: Weird Flex, but Ok...

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Hyundai’s premium brand, Genesis, turned its GV60 EV into a “Mountain Intervention Vehicle” for frosty snowscapes, swapping out wheels for tank-like tracks and adding rescue gear with carbon fiber wheel arch guards. This extreme concept showcases the GV60’s ability to power medical devices and navigate off-grid using a dedicated Garmin GPS.

For U.S. retailers, it’s a flashy demonstration of the brand’s high-end EV engineering. While these tracks won’t appear on your lot anytime soon, Genesis is laying down a message: EVs can be luxury performance machines that venture beyond city streets and highways. Dealers should note how Genesis continues to up its electric game—expanding what customers might expect from a premium EV.

🚀 Toyota Continues Doing What Works - But More So.

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Spy shots of the 2026 Toyota RAV4 hint at a flatter, more symmetrical front fascia and a near-straight beltline, potentially boosting cargo capacity. Hybrid and plug-in hybrid powertrains will likely define its lineup, sticking to Toyota’s bread-and-butter approach.

Don’t look for an upheaval—this SUV is one of North America’s best-selling models, so Toyota will keep the formula intact. The mild design tweaks, combined with eco-friendly powertrains, aim to nudge the RAV4 forward without risking its massive popularity. For dealers, it means a gently modernized design and a straightforward pitch: the dependable RAV4 you know, but a bit sleeker and more electrified.

🔌 Lucid's New Bestie (Tesla's Superchargers)

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Lucid’s Gravity SUV gains Tesla Supercharger access on January 31, boasting up to 400 kW charging. Here’s a quick breakdown:

  • Collaborating on the Chargers
    Tesla’s 20,000-stall Supercharger network welcomes Gravity drivers, boosting road trip feasibility.

  • Top Charging Speeds
    The Gravity targets 400 kW peak but typically hits 225 kW at lower-voltage stations.

  • Time-Saver
    Lucid says 200 miles’ worth of charge could take under 12 minutes in ideal conditions.

  • Industry Impact
    Cross-brand charging cooperation eases range anxiety and might accelerate the EV market’s expansion.

📈 Cox’s January Forecast

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Cox Automotive projects U.S. new-vehicle sales in January to rise 5.2% year over year, despite wintry weather. Key points:

  • SAAR
    Sales pace near 15.8 million, beating last January’s 15.0 million.

  • Seasonal Dip
    January typically slows after December’s strong 16.8 million.

  • Inventory
    Below 3 million units for the first time in months, yet still better than 2024 levels.

2025 Outlook

Cox expects 16.3 million annual sales, assuming no disruptive tariff or credit policy changes.

💰 GM's Year-End Results, Equinox, and EVs Turn a Profit?

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Year-End Results

General Motors closed 2024 on a high note, surpassing Wall Street forecasts with $47.7 billion in Q4 revenue—an 11% jump. Still, net income slipped 40.7% year over year to $6 billion, weighed down by China restructuring costs and the shutdown of Cruise’s robotaxi program. President Trump’s threat of a 25% tariff on goods from Mexico and Canada hangs over GM’s North American supply strategy.

The Chevy Factor

Chevrolet’s lineup remains a linchpin for GM’s success, with the new Equinox EV quickly gaining traction among mainstream consumers. While robust truck and SUV demand helps sustain profits, the Equinox EV signals a broader pivot toward electric models that aim to make GM a formidable competitor to other mass-market EV players.

EVs Turn a Profit

Importantly, GM’s electric division achieved “variable profit positive” status—189,000 EVs were produced, and 114,432 of those sold. That upward momentum positions GM second only to Tesla in U.S. EV share. However, looming tariffs could disrupt pricing and supply. For retailers, GM’s profitability remains encouraging, but trade-policy surprises may require careful inventory planning.

🌏 VW Expands In Europe By Way of China

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Volkswagen is discussing European expansion with its Chinese joint venture partners. Let’s get snarky:

Does VW really want Chinese help on home turf?
They’re basically neighbors trading sugar. Collaboration is handy, but you still keep tabs on who’s rummaging for your best cups.

Could Chinese-built EVs roll out of Wolfsburg?
No firm decisions, says VW. Rumors abound, but so far it’s all “we’ll see.”

Any effect on U.S. dealers?

Not immediately. If Chinese brands take root in Europe, next stop could be the States. Competition typically benefits consumers—and challenges established players.

🚗 BMW's Full Year Expectations

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BMW expects 2024’s profit margin to sit in the lower half of its 6-7% target. Inflation and inventory unwinding hit its bottom line, despite the brand’s premium reputation. Global obstacles—like softening demand in key regions—add further caution.

For dealers, the immediate effect might be minimal, but BMW’s belt-tightening could lead to more conservative spending on marketing, expansions, and perhaps slower introduction of new models. The net takeaway? Even luxury stalwarts aren’t immune to market headwinds, so expect a measured approach until conditions stabilize.

❄️ Norway Goes Electric

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Norway is about to achieve nearly 100% EV sales for new cars—a giant leap from under 1% in 2010. Generous incentives, like VAT exemptions and bus-lane access, helped catapult battery-powered cars into dominance.

This oil-rich nation demonstrates how consistent policies can swiftly reshape consumer behavior. While the U.S. might not replicate Norway’s approach, it’s clear that well-structured financial perks and infrastructure investments can drastically spur EV adoption. Dealers should note that aligning with supportive legislation can turn EVs from novelty to norm in record time.

⚗️ Digging Up Batteries in Oklahoma

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Stardust Power is investing $1.2 billion in a Muskogee-based lithium refinery that could produce 50,000 metric tons of battery-grade lithium per year. By shipping lithium brine via inland waterways, the facility may qualify for hefty incentives.

This development holds promise: more domestic lithium supply can help stabilize EV battery costs and possibly trim customer pricing. As the industry shifts toward electrification, every local resource that reduces reliance on overseas imports strengthens the supply chain—and helps keep vehicles on lots.

🏎️ Honda's Affordable EV Dreams

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Honda hints at a sub-$30,000 electric vehicle for the U.S. around 2026. Let’s see why it matters:

Can it really be that cheap?
The brand’s done “affordable” before (hi, Civic). Battery tech cost reductions are key, though range and features may be modest.

What’s in it for American dealers?

Entry-level EV shoppers get a genuine option, possibly aided by tax credits. That’s a fresh sales pipeline, especially for first-timers who can’t spend $40k+ on an EV.

Is this a done deal?
Honda hasn’t confirmed U.S. launch plans, but the potential is real. If it arrives, it could redefine the budget EV category—and bolster Honda’s electric credentials.

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