A few stories from this week that deserve more attention than they got — covering vehicle theft, EV market updates, and the slow normalization of the new car market.
Vehicle theft is trending in a direction that should concern anyone paying attention. A brazen robbery in New York City involving multiple vehicles and occupants made the rounds on social media this week, underlining what law enforcement in major cities has been reporting for the past two years: organized vehicle theft and smash-and-grab crimes involving cars have increased significantly. The shift in prosecution approaches in several cities has reduced the deterrent effect that used to make these crimes higher-risk for perpetrators.
On the EV market front, the gap between announced capacity and actual production continues to be a story. Several manufacturers have had to walk back near-term production estimates, citing supply chain constraints, battery material availability, and the plain difficulty of ramping up complex new manufacturing processes. Investors who bought into aggressive timelines are starting to apply more pressure, which should produce more realistic public communication — though whether it also produces more vehicles remains to be seen.
The new car market is showing the clearest signs yet of returning to something more buyer-friendly. Inventory on dealer lots has increased meaningfully from the historic lows of late 2021 and early 2022. Several previously impossible-to-find models are now available at MSRP without a wait, and the days of routinely paying $10,000 over sticker for a mainstream pickup truck appear to be fading. Buyers who held off during the shortage are finding a more reasonable environment.
One trend worth monitoring: the rapid expansion of automotive subscription and over-the-air feature unlock services. Multiple manufacturers are now charging ongoing fees for features that are physically present in vehicles but software-locked. Heated seats, enhanced navigation, and driver assistance upgrades are all appearing on these menus. How consumers respond to this model — and whether regulators will weigh in on features paid for once versus features requiring ongoing subscription — is a story that’s just getting started.
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