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Japanese automakers kick in $800k for new charging-station company

Cynics may say that gathering $800,000 (total) from four of Japan's largest automakers is merely a rounding error. Still, Toyota, Nissan, Honda and Mitsubishi, along with the Development Bank of Japan, are putting those funds to good use. So, that's something. Last week, those five entities officially founded Nippon Charge Service LLC. The company was established to promote plug-in vehicle charging installations across Japan and the automakers seeded it with 80 million yen, or about $786,000 US. Those funds will be used to help business owners deploy charging stations at convenience stores, highway-side locales and other locations that will make it easier for plug-in vehicle drivers (of Toyotas, Hondas, Mitsubishis and Nissans, obviously) to get their juice. The automakers first announced they'd collaborate last year, when they said they'd work with the Japanese government to more than triple the country's publicly accessible chargers to about 17,000 units. No targets were disclosed as far as how many charging stations would be deployed this time out, but, in a move similar to the EZ Charge system in the US, Nippon Charge Service will also have universally-accepted charging cards available by the end of the year to drivers all of those brands' plug-in vehicles to make the charging process a little more seamless. Check out Honda's press release below. Japan Automakers Advance Electric Charging Infrastructure with New Company, Nippon Charge Service -Established to help build charging infrastructure for electric-powered vehicles (PHVs, PHEVs and EVs)- Toyota Motor Corporation Nissan Motor Co., Ltd. Honda Motor Co., Ltd. Mitsubishi Motors Corporation Development Bank of Japan Inc. TOKYO, Japan, May 30, 2014 - Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly established a new company, Nippon Charge Service, LLC, on May 26 to promote the installation of chargers for electric-powered vehicles (PHVs, PHEVs, EVs). The goal is to help build a charging network that offers more convenience to drivers in Japan. The new company will promote the installation of chargers, for the good of society and to expand the use of electric-powered vehicles. Related industries are also expected to benefit. Development Bank of Japan Inc.

McLaren MP4-X concept shows innovation won't die in F1's future [w/video]

Despite things like turbocharging and kinetic-energy recovery, today's Formula One cars look more or less like the ones that lapped the world's race tracks 20 years ago. Sure, they're much more aero intensive, but the basic look is the same. McLaren, which probably had some serious free time this season considering its misfortunes, has imagined a futuristic F1 car that adopts many innovative and somewhat controversial additions. It's called the McLaren MP4-X, and the most obvious change is the closed cockpit. The death of Jules Bianchi, the accidents involving Maria De Villota and Felipe Massa, and even the death of Ayrton Senna could have all potentially been avoided by adopting a strong closed-cockpit design, like the one advocated here by McLaren. It's also worth pointing out that this design is a boon for aerodynamics. Inside that cockpit, drivers would enjoy an augmented reality display system, sort of like that used by F-35 Lightning II fighter pilots. There'd also be an independent head-up display that McLaren claims could be used to transmit info about race position and flag status. So basically, the kind of data you'd get playing Forza Motorsport or Gran Turismo. Speaking of safety, the MP4-X's entire chassis, beyond the closed roof, would be far safer thanks to the use of "negative-stiffness material structures." Essentially, these materials can soak up the force of an impact and then bounce, for lack of a better term, back into shape. And if you're thinking like we are, this sounds like McLaren wants 900-horsepower bumper cars. Of course, 900 hp is speculation on our end. McLaren is deliberately vague on the powertrain of this concept. Advanced hybrid powertrains aren't surprising, although the team's mention of inductive, wireless charging on tracks sounds like the stuff of Formula E's dreams. In a move that McLaren says "tears up the rulebook," the MP4-X would see a return of ground effects. The underbody would feature enormous venturi tunnels to suck the car to the track. Alongside active aerodynamics that tweak the its shape for turns and straights, this concept McLaren would be both more slippery and offer more downforce than today's cars. There's a lot more on the MP4-X concept than we can talk about here, so head over to McLaren Honda's official website for all the nitty gritty details on this car's advanced systems, including solar cells, advanced tire sensors, and even virtual logos. It all sounds very, very cool.

Average new-vehicle transaction price hits a whopping new peak in December

Elevated prices for products and higher borrowing rates led to record high transaction prices for new vehicles in December, with the average cost in the U.S. rising to a record $49,507, according to data from Kelley Blue Book released today. The report notes that ATPs — average transaction prices — have climbed above suggested retail prices — MSRPs — for more than a year. Sales volumes were up in December on a year-over-year basis by more than 5%, a situation Kelley attributed to improved supply. Overall sales for 2022, however, were off 8% year over year. “The transaction data from December clearly indicates overall prices showed no signs of coming down as we headed into year-end,” said Rebecca Rydzewski, research manager of economic and industry insights for Cox Automotive. “Luxury prices fell slightly in December, but non-luxury transaction prices were up. Truck sales were particularly strong last month, and with many trucks selling for more than $60,000, a new record was all but inevitable.” Industry analysts claim the most obvious headwinds in the new car market are generated by higher interest rates, forced by the Federal Reserve's rate hikes intended to tame inflation, and by generally limited inventory. A recent report from J.D. Power showed that the average monthly payment for a new vehicle loan in December was $718, up $47 from a year ago. But 16% of consumers in December took out loans with monthly payments of over $1,000. Consumers think vehicles, and electric vehicles especially, are way too expensive. Fortunately, manufacturersÂ’ incentives, all but extinct in the past two years, are returning, especially in the electric-vehicle and luxury market, the Kelley data suggest. Plus, "With the new tax credits on the way, electric vehicle ATPs will drop lower for qualifying vehicles,” Rydzewski said. Non-luxury brands, such as Honda and Kia, showed particularly strong performance in December, with the average price paid at $45,578 — a record high and an increase of $994 month over month. Meanwhile, the average luxury buyer paid $66,660 for a new vehicle last month. Mercedes-Benz and Land Rover showed the most price strength in the luxury market, transacting between 2.6% to 6.5% over sticker price. But luxury brands Audi, BMW, Infiniti, Lexus, Lincoln, and Volvo showed the least price strength with some discounting in effect, selling 1% or more below MSRP in December, according to the survey.