🦇 October Data, Un-banned in Michigan, and Batman's Car

The Gist

October’s sales numbers are up, but don’t break out the champagne yet—inventory’s still uneven, and used Tesla prices are falling like leaves in autumn. Chevy’s Silverado EV got a boost in range and a trim in price, while Kia’s funky Tasman work truck leaves folks divided. Over in Michigan, Kei cars are back on the road after a legal brawl, and Xiaomi’s quietly taking over the Chinese EV market. Meanwhile, Polestar might need a Plan B in the U.S. Thanks, Biden. Oh, and there’s a $3M Batmobile you can’t even drive.

The Digest

• 📈 October Sales Surge, But Is It Enough?

• 😏 Why Are Tesla Prices Dropping So Fast?

  • Wait, are used Teslas really that cheap now?

  • Is this just a Tesla problem?

  • Will prices keep falling?

• 🏎️ $3 Million Batmobile: Pure Fantasy

  • What’s the catch?

  • Does it come with a jet engine?

  • Who’s buying this?

• 🚙 Chevy Silverado EV Lands with Longer Range

• 🛠️ Kia Tasman: Strange Design, Serious Utility

  • What’s with the design?

  • Is it just a design gamble, or does it perform?

  • Why should dealers care?

• ⚡ Suzuki Samurai Goes Electric: Old Meets New

• 🇨🇳 Xiaomi’s EV Ambitions Shift into High Gear

  • How is Xiaomi doing it?

  • What’s next for Xiaomi?

• 🇲🇮 Michigan Backs Down: Kei Cars Are Back

• 🇸🇪 Polestar Faces U.S. Ban: What’s Next?

BUSINESS

📈 October Sales Surge, But Is It Enough?

October 2024 saw a notable rise in new vehicle sales, showing some recovery, but underlying challenges persist for retail auto dealers.

• Sales Rise: Total sales are projected to hit 1.33 million, a 2.1% year-over-year increase (adjusted for selling days).

• SAAR Expectations: The seasonally adjusted annualized rate is up, reaching 16.1 million units—a 0.6 million unit bump.

• Inventory Growth: Retail inventory rose 25.1% year-over-year, now sitting at 1.9 million units, but shortages remain for certain high-demand models.

😏 Why Are Tesla Prices Dropping So Fast?

Tesla's used-car prices are dropping fast, and the reasons are complex—thank Elon Musk’s pricing rollercoaster, rising interest rates, and a changing EV market.

Wait, are used Teslas really that cheap now?

Yup! Tesla's used models have dropped by 25% over the past year. In contrast, gas-powered cars saw a 4.5% price drop. That’s a huge gap!

Is this just a Tesla problem?

Mostly, yes. Elon’s price cuts to move inventory made brand-new Teslas cheaper, crushing the value of used ones. It’s like buying new sneakers, only to find the price slashed a week later.

Will prices keep falling?

They might. A flood of off-lease EVs will hit the market in 2026, possibly driving prices down even further. For bargain hunters, the future looks bright.

🏎️ $3 Million Batmobile: Pure Fantasy

Diehard Batman fans, rejoice! A $3 million replica of the iconic Tumbler is up for grabs—fully functional, but sadly, not street legal.

What’s the catch?

Well, aside from the hefty price tag, this Tumbler isn’t street legal. You’ll need a museum-sized garage to showcase this beast.

Does it come with a jet engine?

Kinda. It simulates a jet engine, but without the flames. So, you’ll have to make your own sound effects and fire visuals.

Who’s buying this?

Only 10 will be made, and Warner Bros. wants buyers to apply for the privilege of owning one. It’s like being a billionaire superhero—minus the crime-fighting.

🚙 Chevy Silverado EV Lands with Longer Range

The 2025 Chevy Silverado EV has arrived, offering more range, better pricing, and an expanded lineup of trims, giving dealers a solid talking point for EV buyers.

• Extended Range: The 2025 Silverado EV gets a range boost of 42 miles, bringing its total to 492 miles for the Max Range version.

• Lower Price: Chevy shaved $7,000 off the RST trim’s price, now starting at $89,395.

• More Options: The new LT trim offers a more affordable EV package, with a range of 408 miles, targeting buyers looking for utility without breaking the bank.

🛠️ Kia Tasman: Strange Design, Serious Utility

Kia’s new Tasman work truck has a polarizing design (I think it’s dope! -chris), but its no-frills base model might win over some retail fleet buyers looking for a durable and quirky workhorse.

What’s with the design?

It’s, uh, “bold,” as Kia’s head of design puts it. The fenders are wide, and the headlights are oddly far apart—let’s just say it’s an acquired taste.

Is it just a design gamble, or does it perform?

Thankfully, the base work truck tones down the weirdness. With steel wheels, a flatbed, and a solid set of powertrain options, it’s built to handle real work without the distractions.

Why should dealers care?

It’s a conversation starter, that’s for sure. While it may not be a top seller in the U.S., the work truck version could grab attention in global markets, especially where durability trumps aesthetics.

⚡ Suzuki Samurai Goes Electric: Old Meets New

Lauryn Morris's all-electric 1987 Suzuki Samurai turned heads at Electrify Showoff Denver, blending vintage style with sustainable power, and highlighting the growing interest in electric conversions.

• Award-Winning Conversion: Lauryn’s electric Samurai won “Best SUV” at the event for its unique combination of classic design and modern technology.

• Specs Under the Hood: With 120 horsepower from a Netgain Hyper9 motor and five Tesla battery modules, this Samurai gets around 90 miles per charge—ideal for urban adventurers.

• Affordable Conversions on the Horizon: NICE (No Internal Combustion Engine) aims to make EV conversions affordable, focusing on scaling up projects like the Samurai to meet growing demand for retro-fitted EVs.

🇨🇳 Xiaomi’s EV Ambitions Shift into High Gear

Xiaomi is making serious moves in the EV market, delivering 20,000 vehicles in October and shaking up the competition in China.

How is Xiaomi doing it?

By sticking to what they know—affordability. Xiaomi’s EVs are priced to undercut Tesla, with the SU7 selling at a lower price point, yet still packed with tech.

What’s next for Xiaomi?

They’re taking preorders for the SU7 Ultra, a premium sports EV priced at over $110,000. The company plans to deliver 100,000 vehicles by year’s end, showing that they’re not messing around.

🇲🇮 Michigan Backs Down: Kei Cars Are Back

After a legal battle, Michigan reversed its ban on Kei vehicles, allowing these quirky, fuel-efficient cars to hit the streets once again.

• Legal Victory: Enthusiasts and an attorney banded together to sue the state, resulting in a full policy reversal allowing Kei trucks and cars to regain road-legal status.

• Back in Action: Michigan plans to reinstate titles for affected vehicles, making it the third state to overturn the AAMVA’s ban on Kei imports since 2021.

• A Win for Grassroots Organizing: This is a testament to what enthusiasts can achieve when they rally for change—expect more states to follow suit.

🇸🇪 Polestar Faces U.S. Ban: What’s Next?

Polestar’s U.S. operations are under threat from a proposed rule that would block Chinese tech, casting uncertainty on the Swedish automaker’s future in the market.

Polestar, majority-owned by China’s Geely, says the Biden administration’s proposed ban on Chinese vehicle hardware would "effectively prohibit" them from selling cars in the U.S. This rule could impact even their American-made models, like those produced in South Carolina. For Polestar, the fight to stay on American roads has just begun.Sign up for more news, data, and context from your friends at ASOTU.

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