Auto Industry News: Overland Expo Recap, New Rides Spotted, AM Radio Debate & May Sales

It’s been a busy week in all corners of the auto industry. Overlanders descended on Arizona for the biggest-ever Overland Expo, while a variety of new rides were spotted testing from GM, including a luxury SUV, a rugged truck, and several track-ready sportscars. The Engine Block has details on what’s what in the vehicle pipeline, along with an update on where AM radio stands and what May sales data has to say about the current state of health for the U.S. auto market.

2023 Overland Expo West: Go Big or Go Home

More than 30,000 people descended on Flagstaff, AZ last week for the 2023 Overland Expo West event. Representing 45 U.S. states and 7 countries, they made for the largest Overland Expo on record.

It was a sight to behold – and a useful trend thermometer. Since there’s no real metric for measuring the growth of the overlanding movement, tracking attendance at these events (along with aftermarket sales) is the best way to get a grasp on popularity.

And popular it is. In addition to enthusiasts, over 400 exhibitors showed up, displaying state-of-the-art equipment and exciting new gear. Meanwhile, 136 presenters, trainers, and VIPs hosted a whopping 448+ classes, seminars, demos, activities, slideshows, and films.

Major highlights of the event included the reveal of Ultimate Overland Vehicle 2023, based upon the LX600, and Ultimate Overland Motorcycle 2023 based upon the Triumph Tiger 1200.

The fourth-gen Toyota Tacoma made its global debut as well. Attendees got to check out the new mid-sizer’s Trailhunter trim up close and in person. They also got a closer look at the 2023 Grand Wagoneer Overland Concept, a $110,000 custom glamor wagon that first debuted in Moab at EJS.

Did You Know…?

A recent survey of America’s leisure travelers found that 44 million Americans are planning on going RVing this summer, including 12 million who had plans for this Memorial Day weekend. When asked their reasons for considering RV travel, the respondents cited more flexible work schedules, a desire to travel more with kids and family, wanting to travel in comfort, exploring the great outdoors, and traveling with a large group as their top reasons.

New Rides Spotted

New GM vehicles have been spotted all over the place – testing, teasing and gauging excitement. Below are the three badges that made waves last week.

Announced: Cadillac Escalade IQ EV

Last Monday, Cadillac confirmed its biggest SUV is going electric. The Escalade IQ should arrive later this year, and will join the Celestiq sedan and Lyriq SUV in Cadillac’s “IQ” EV lineup.

Not much is known, since the announcement was merely that – a notice that a new ride is on its way. However, we can safely assume it will ride on GM’s Ultium battery technology and be both unbelievably powerful and incredibly heavy. (There’s no way this baby weighs in at less than four tons.)

There are also rumors floating around that GM may turn the Escalade into a sub-brand, much like it is doing with the Corvette name. This would mean an entire Escalade line is in the works, including a smaller crossover version and even a car-like iteration. It’s a safe bet they will be mostly or all electric.

Spied: Multiple Camouflaged Corvettes

An eagle-eyed photographer in Detroit captured several new Corvettes testing last week. The four vehicles were buried under heavy black cladding, but a few details could still be made out.

Though all four models have the Z06-style center exhaust and Michelin Pilot Sport Cup 2 Rs tires, only two have the big Z07 package wing. Two models also appear to have axle stubs peeking through the hubs in their heavily-covered front wheels, indicating possible AWD. Since that generally means hybrid, there’s speculation this could this be anything from a special E-Ray package to the upcoming Zora.

If the other models are RWD, then it’s possible they are ZR1 prototypes. The 800+ hp rear-driver is set to arrive in 2025 as an all-new model.

Teased: 2024 GMC Canyon AT4X AEV

Also spotted last week was the GMC version of Chevy’s upcoming Colorado ZR2 Bison. The 2024 GMC Canyon AT4X AEV was teased ahead of its July 6 debut, on Wednesday. The image, taken from a dramatic underbody angle, shows 35-inch tires, aggressive skid plating and a high-clearance bumper on a revised front fascia.

While the AT4X off-road trim arrived on the 2023 model, this special version was made in partnership with off-road aftermarket equipment manufacturer American Expedition Vehicles. GM already has a few AEV-badged trims in its lineup, including the 1500 and HD Sierra pickups.

In the Sierra, the AEV treatment increases front approach angle, departure angle and breakover angle, and boosts ground clearance significantly. It also adds some tailored badging to the exterior and interior.

The Canyon should follow a similar formula.

Since the AT4X added three inches over standard Canyons, and the AEV version sits on bigger tires, a total of 11 inches of ground clearance is expected. When the vehicle appeared under covers at a media event for its big-brother Sierra, a sport rack and bed-mounted spare tire carrier were visible through the sheet. So, it’s likely those will be available as add-ons. The engine is expected to remain unchanged at 310 hp and 430 lb.-ft. of torque.

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In Case You Missed It…

The first designer of Hot Wheels for Mattel, Harry Bentley Bradley, passed away earlier this month. He was 83. Responsible for the original “Sweet Sixteen,” Bradley’s passion for design started young. He suffered paralysis from polio at just 14 years old, and spent much of his free time drawing. Honing those skills paid off, as he landed a job with General Motors before eventually winding up at Mattel – an experience which no doubt informed his toy designs. His legacy lives on in legions of little gearheads.

Throwback Tech Stays On Board … For Now

AM radio might be an aging technology struggling to compete in a digital world, but it’s certainly not dead. According to a 2021 Edison Research study, 89% of U.S. car buyers say broadcast radio should be standard equipment in every vehicle.

Ford, at least, seems to agree. CEO Jim Farley said that the automaker will restore AM radio service on all 2024 Ford and Lincoln models, as well as two electric vehicles via an over-the-air software update.

Anti-AM Designs

Recently, automakers started phasing out AM radio, citing electromagnetic interference from electric drivetrains that causes too many audio quality problems to justify the old tech.

But plenty of EVs currently offer AM radio without consumer complaints. See Ford’s own F-150 Lightning and Mustang Mach-E, as well as GM’s Cadillac Lyriq, Chevrolet Bolt and GMC Hummer EV as evidence.

More likely, automakers simply assume folks no longer want AM radio when they have endless streaming options. As the data shows, though, that’s just not the case.

Ol’ Reliable

In fact, in the Edison Research study noted above, respondents stressed the importance of free-to-listen-to radio, and marked growing data charges for streamed content as a major concern. A clear majority (71%) of those who currently listen to audio via their mobile device say they are ‘concerned’ about how much data they are using.

Additionally, and as Farley cited in his announcement, AM broadcast radio plays a critical role in the emergency alert system. Internet radio and WiFi signals are simply not as reliable as old-school radio waves. And in times of disaster, which would you rather have?

Robust, efficient and most importantly, free to everyone, AM radio lives to see another day.

In Case You Missed It…

Hyundai and Kia are looking to settle their class-action lawsuit with a $200 million payout to more than 9 million vehicle owners. The lawsuit stems from the automakers’ failure to install engine immobilizers — essential anti-theft devices famously exploited in a series of TikTok videos. Many owners saw their vehicles stolen or damaged in the crime trend, with countless others losing their insurance coverage due to the high theft rates. The settlement is expected in July.

May New Vehicle Sales Up, Up, Up

Despite high prices, high interest rates and high inflation, consumers keep consuming – cars, at least. May 2023 new-vehicle sales are expected to reach 1,337,700 units, a 15.6% surge over last year, according to a joint forecast from J.D. Power and LMC Automotive.

This increase comes alongside a projected 0.7% increase in average transaction prices, last clocked at $45,838. Taking this new record into consideration, consumers are now on track to spend nearly $46.9 billion on new vehicles this month. That’s the second highest for the month of May and 13% higher than May of last year.

Other numbers you should know:

• Vehicle availability has improved significantly, up 48% compared with May 2022.
• Dealer profits are 25.8% lower than a year ago, but still more than double pre-pandemic levels.
• Manufacturer discounts are still low, but up 88% from last year.
• Monthly payments are as high as ever. Experts predict May’s average to be $736, $48 higher than May 2022.
• Average interest rate for new vehicles will likely hit a bruising 7.0%.
• Your used vehicle is still worth a lot – trade equity this month remains more than double the pre-pandemic level – but it is dropping. J.D. Power and LMC Automotive put it at $9,462 for May, down $247 from a year ago, and down $613 since the peak in June 2022.

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 and learn the impact shocks and struts has on your braking performance. Then, come back around on Friday for some tips on spec’ing that next tow vehicle.