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VW ID.4, the new Buick Envision and crossing Hyundai's N Line | Autoblog Podcast #668

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. It's a review-packed episode this week, but it kicks off with a discussion of Volvo's plans to electrify by 2030 and move their EV sales online. From there, they get into Greg's time with VW's game-changing new ID.4 electric crossover. Byron then talks about his time with two very different new vehicles: the 2021 Buick Envision luxury crossover and the 2021 Hyundai Sonata N Line, which may or may not be a sport sedan. Finally, they tackle a fascinatingly complex twitter question: What is the best 'economy' muscle car? Autoblog Podcast #668 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Volvo introduces 2022 C40 Recharge crossover, announces all EV sales will be online-only What we're driving 2021 Volkswagen ID.4 2021 Buick Envision  2021 Hyundai Sonata N Line Reader question What is the best 'economy' muscle car?  Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Auto News Green Podcasts Buick Hyundai Volkswagen Volvo Green Automakers Electric Future Vehicles Sedan

Nearly half of Buick dealers choose buyout over investing to sell EVs

In 2022, General Motors gave Buick dealers across the nation a simple choice: invest a significant amount of money to prepare for EVs or opt for a buyout. Over a year later, the brand has reportedly lost nearly half of its dealerships as it prepares to roll out its first electric cars. Trade journal Automotive News reported that the number of Buick dealers in the United States dropped by about 47% during 2023. At the beginning of the year, the network included 1,958 stores; fast-forward to December and that figure stands at approximately 1,000. More dealers could throw in the towel in the coming weeks, as the publication adds that the buyout program remains open and will continue. Dollar figures haven't been released, so we don't know precisely how much money a dealer who opts out can claim from General Motors or how much money a dealer needs to spend to stick with the brand. However, the latter figure falls somewhere between $300,000 and $400,000, Automotive News learned. Dealers notably need to invest in equipment (such as charging stations) and training. Buick doesn't seem fazed by the exodus. "I'm really pleased with where we are. The network, where we are now, is a good size. It's with dealers who are focused on the business, who've shown that they can recover the volume that the dealers who transitioned away were doing," company boss Duncan Aldred said. According to Automotive News, the dealers who chose to stop selling Buick models accounted for about 20% of the brand's sales in the United States. Buick told the publication that around 89% of the American population still lives within 25 miles of one of its dealerships. General Motors extended the same offer to Cadillac dealerships in 2020, and about 150 stores allegedly chose to leave. For context, the dealer network consisted of 880 locations in the United States before executives floated the buyout offer. The dealers who left received between $300,000 to $500,000, the report adds, while preparing to sell electric cars would have set them back by around $200,000. Related video:

GM raises 2023 guidance on strong sales, higher profits

General Motors beat first-quarter profit estimates and raised its full-year earnings and cash-flow guidance after vehicle demand at the start of the year surpassed expectations. Its shares rose in premarket trading. GM made $2.21 a share in adjusted profit in the first quarter, compared to a consensus forecast of $1.72 a share. Revenue rose 11% to $39.99 billion, it said Tuesday, which was more than the $39.24 billion analysts expected. The stronger results stem from rising sales in the US, even in the face of higher interest rates and inflation. GM executives said demand was strong enough to revise 2023 guidance upward, boosting profit estimates for the year by $500 million to between $11 billion and $13 billion. “We did it with strong production and inventory discipline and consistent pricing,” GM Chief Financial Officer Paul Jacobson said on a call with journalists. “All in all, weÂ’re feeling confident about 2023.” The Detroit automaker raised per-share full-year guidance to between $6.35 and $7.35, up from $6 to $7 a share, and said free cash flow would also increase by $500 million to a range of $5.5 billion to $7.5 billion.  GMÂ’s shares pared a gain of as much as 4.4% before the start of regular trading Tuesday, rising 3.5% to $35.50 as of 6:55 a.m. in New York. The stock was up 1.9% for the year as of the close on Monday.  North American Strength The automakerÂ’s sales were particularly strong in North America, where first-quarter earnings rose before interest and taxes rose to $3.6 billion. Vehicle sales rose 18% to 707,000 in the region. Jacobson said the company originally expected to sell 15 million vehicles in the US this year, slightly less than the 15.5 million annualized rate automakers foresaw in the first quarter. North American demand was enough to offset a weak performance in China, GMÂ’s second-largest market. The automaker continues to struggle in the country, where its vehicle sales fell 25% to 462,000 vehicles in the quarter. Profits from its joint ventures in the market slumped 65% to $83 million.  The market has struggled overall in the wake of Covid-19 restrictions and foreign automakers have had to overcome a growing preference for Chinese brands by competing on price, squeezing profit margins. The situation in China probably wonÂ’t significantly improve until the second half of the year, according to Jacobson. GM remains on target to sell 150,000 electric vehicles this year, the CFO said.