Auto Industry News: November Sales, New Vehicles, More Gift-Giving Ideas, & Whispers of a Corvette Sub-Brand

November new vehicle sales indicate some positive news for automakers’ inventory levels, though average transaction prices spell more pain in the wallet for consumers. Buick announces a new ICE model, despite its plans to go all-EV by 2030. Industry insiders suggest it could be the last new gas vehicle for the brand.

Meanwhile, Vietnam’s first major automaker, VinFast, deploys its first major shipment of electric crossovers for the North American market. The Engine Block unpacks the automaker’s big plans for stateside production, which involve a $4B factory-building endeavor in Chatham County, North Carolina that requires bulldozing several homes and businesses with longstanding community ties.

Plus, will GM be using the Corvette name to build an EV sub-brand? All that and more in this week’s Auto Industry News.

But first… check out these great gift recommendations for the off-road enthusiast in your life.

Holiday Gift-Giving: Off-Road Edition

Got some Jeep owners, truck lovers, and general outdoor adventurers on your Christmas list? Try these gifts on for size.

Hi-Lift Jack

It’s a name so ubiquitous, that most people refer to all off-road jacks as Hi-Lift Jacks. Make no mistake, though, there is only one original – and it is a superior piece of equipment that looks mean as hell both in action and attached to a 4×4. Spring for the legendary, all-cast version or save a few dollars (and pounds) with a just-as-tough, cast/steel option. Depending on size, pricing will run $100-$150, making this a really nice gift.

Multi-Purpose Trail Tool

Looking for something a little more budget-friendly? Consider a pocket-sized multi-tool. Compact and convenient, these make great gifts – and can be a godsend in a recovery situation. Leatherman sets the standard here – and you can find some options in their lineup under $50. But if you’re on a stricter budget, or don’t feel like spending that much on Jeff from Accounting in the Secret Santa swap, you can still pick up a really nice example from Smittybilt or Performance Tool for less than twenty bucks.

Traxxas TRX-4M

Got a budding off-roader who can’t quite crawl behind the wheel yet? Check out these new RC cars from Traxxas. Smaller (and more affordable) than the brand’s TRX-4 models, these 4×4 trail trucks pack just as much fun and adventure. Boasting features like oil-filled shocks, steel frame rails and a smooth-running drivetrain, the TRX-4M can blast through tough off-road terrain, while the tight turning radius and precise throttle control give it fantastic indoor maneuverability. Currently two models are available: Land Rover Defender and Ford Bronco. Both run less than $150.

WARN Epic Trail Gear Storage Bags

Wondering what to buy for the off-road enthusiast who already has everything? How about a place to put all that stuff? WARN Industries – whose indomitable winch your beloved off-roader likely already has locked onto the front of their rig – also makes premium storage bags. Crafted from marine-grade vinyl, WARN Epic Trail Gear bags offer sturdy cargo management in a variety of locations, like roll bars, seat backs and grab handles. Prices start at $30.

Floor & Cargo Liners

Rubber mats may seem like a dull gift to unwrap, but they actually make an ideal present. First, they’re the type of accessory that many folks don’t like buying for themselves because they’d rather put those dollars toward something more exciting. Second, they’re unbelievably useful – and help to preserve the integrity of a vehicle’s floor pans. Third? The recipient will think of you every time they step into their rig and catch sight of those quality mats on the floor! There are a lot of great suppliers in this realm, including WeatherTech, Husky Liners, Rugged Ridge and Bestop.

Market Update: November New Vehicle Sales

The ink is dry on November sales data, and the overall assessment seems to be positive(ish).

Total new-vehicle sales are up 5.6% from 2021 – though the bump is largely thanks to commercial and rental fleet customers. According to Thomas King, president of the data and analytics division at J.D. Power, the larger share of manufacturers’ production being allocated to fleet customers is a clear sign that inventories are rebounding.

Regular folks are still buying, too. But with average prices and interest rates at record highs ($45,872 / 6.37%), and incentives dismally low (35% less than last year), consumer optimism is beginning to show some cracks.

“Looking at December and into 2023, the dynamics observed in November are expected to persist,” King says. “Gradual improvements in vehicle availability will lead to improvements in the new-vehicle sales pace, but per-unit prices and profitability will moderate.”

Compounding this “rebalancing of the industry price-volume equation,” King adds, is the fact that rising interest rates keep bumping up monthly car payments while falling used-vehicle values are hurting consumers’ trade-in equity. (It is worth noting, however, that November 2022 trade equity is still more than double the pre-pandemic level.)

Ultimately, King stresses that “the overall health of the new-vehicle industry is exceptionally strong and will remain so in the coming months.”

Buick Envista Coming to America

Speaking of new vehicles… Despite plans to go all-EV by the end of the decade, Buick will bring a new ICE compact crossover to the U.S. market next year. The Envista draws inspiration (loosely) from the Wildcat EV – a sculptural concept that the automaker unveiled back in June.

Intending to represent Buick’s new design language, the Wildcat features a dramatically swept-back body that contrasts a bold, forward-leaning front end. There are hints of this styling in the new Envista – mostly around the sharply-angled headlights – but the flavoring is mild at best.

Since Buick discontinued the Encore model, it’s likely the new Envista will serve as a pseudo-replacement. It could also be the last gas-powered vehicle to join Buick’s lineup before the automaker starts rolling out EVs in 2024.

Did you know?

The only private jet previously owned by Elvis Presley is heading to public auction. Acquired in 1976 for an impressive $840,000 (roughly $4.4M in today’s dollars), the 1962 Lockheed 1329 JetStar features a red exterior with silver accents and custom red velvet interior upholstery with gold-finish hardware worthy of the king of rock ‘n’ roll. Set your calendar – or your DVR. You can find this rare bird at Mecum’s 2023 Kissimmee Auction January 4-15.

Corvette Sub-Brand in the Works

Taking a page from its crosstown rival Ford, it looks like GM will leverage the Corvette name to build some brand cachet on the EV front. According to Car & Driver, an unnamed source says the automaker will introduce two electric vehicles under a Corvette brand in 2025 – “a sleek four-door coupe and a brawny crossover.”

Reportedly, the EV imprints will live up to the badge in design and driving dynamics as they aim to make “the essence of Corvette scalable.”

In the shorter term, Chevy plans to launch a hybrid Corvette next year with an electrified version of the sports car set to follow in 2024 or 2025.

New Kid on the Block

Looking for something new to park in the driveway? Something that’ll really have the neighbors scratching their heads? Well, according to search data, you could just buy a KIA, since no one seems able to suss out those swoopy badges. Or you could put those dollars towards something that’s still making its way to America – literally.

VinFast, Vietnam’s first major automaker, just shipped its first batch of EVs to the United States.

The export includes 999 models of the VF 8, a midsize electric crossover bearing bold Italian Pininfarina exterior design and a standard dual motor all-wheel drive setup capable of making 402 hp and 472 lb-ft of torque. Range should land around 300 miles, and pricing around $42,000 plus a monthly battery subscription.

Roll ‘Em Out

This is a big step for VinFast, as well as the entire Vietnamese automotive industry which is ready to show it can compete in an international market.

VinFast, in particular, has been steadily focused on its North American rollout, which it launched three months ago by opening six stores in California. Earlier this month, the automaker entered “Phase 2” with its first Canadian store inside a Toronto shopping center. It plans to expand soon with locations in Quebec and Vancouver.

Also on the list? Stateside production.

Back in March, VinFast made a deal with the government of North Carolina to build its first U.S. electric vehicle manufacturing plant in Chatham County – a $4B endeavor expected to create 7,500 jobs.

Unfortunately, local residents aren’t too happy with the terms.

NC Locals Say ‘Not So Fast’ to VinFast

Community members are concerned at the state’s willingness to provide an untested start-up with nearly $1.25 billion in state and local taxpayer incentives – over the next three decades, to boot. It marks the largest development deal in North Carolina history.

More upsetting, they say, is the state’s use of eminent domain to uproot 27 homes, five businesses, and one church to make way for VinFast. Eminent domain allows the government to forcefully seize private citizens’ property for public use. In this case, the state is wielding the legal tool to improve road access to the VinFast site, which requires new rights-of-way.

The eyebrow-raising incentive package, along with shocked small-town residents, is reminiscent of Rivian’s similar EV factory-building endeavor in Georgia.

In that case, locals raised enough alarm that a judge tossed out the lucrative property tax break government officials used to lure the upstart automaker. However, since the ruling doesn’t affect development, Rivian is still moving forward with the plant – and an appeal.

It is unlikely North Carolina residents will gain any similar concessions. The VinFast deal calls for production at the plant to start in July 2024, which means the state is moving at an accelerated pace to get the road improvements completed.

In Case You Missed It…

With only a paltry 11% of ballots returned in the UAW’s historic direct election, officials began counting last week. And despite allegations of voter suppression, it appears the winds of change are blowing into the union’s top ranks. Unofficial results confirm a number of positions will head to runoff elections. Overall, though, insurgent candidates on the Members United slate have reason to celebrate as several incumbent leaders are out in favor of reformative agendas.

The Engine Block is your one-stop source for any and all auto industry news. Keep an eye on our weekly round-up of enthusiast coverage, product reviews, vehicle spotlights, auto show/expo features, and more. Be sure to check back Wednesday for a handy rear-bumper guide, and Friday for a list of best used trucks.