Category Archives: manufacturing

Posted on 20 November 2024 by Ken Zino

Stellantis (NYSE: STLA) has debuted a new multi-energy Platform: dubbed STLA Frame. Purposely designed for full-size, body-on-frame trucks and SUVs, STLA Frame can use internal combustion, hybrid, hydrogen, battery electric (BEV) and range-extender electric vehicle (REEV) technologies. In short, struggling Stellantis’ future is dependent on this new architecture. (read AutoInformed.com on: Beleaguered Stellantis Cuts 2024 Financial Guidance, and Stellantis Q3 2024 – Shipments and Revenues Plunge)*

“Like STLA Medium and STLA Large, STLA Frame combines an unprecedented range with new levels of capability and performance to offer best-in-class range, payload and towing for our customers who need reliable and powerful trucks and SUVs, to haul their families or power their businesses,” said Stellantis CEO Carlos Tavares. “With full EV and extended-range EV tech coming soon, we’re bringing ‘no compromise’ solutions to buyers who may be hesitant on trying their first electric vehicle. We’re proud of this engineering marvel and look forward to seeing it come to life in our upcoming product blitz on Jeep and Ram.” Continue reading →

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Large European Job Cuts Coming at Ford, Again

Posted on 20 November 2024 by Ken Zino

Ford Motor Company (NYSE: F) announced today its restructuring plans to create a badly needed more “cost-competitive structure.” The main focus is the health of Ford’s passenger vehicle business in Europe, where it incurred significant losses for years. Ford is also lagging in the European shift to electrified vehicles, and new competition – especially Chinese – has been disruptive. Through Q3 of 2024, Ford sales are down ~18% in Europe. Continue reading →

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Toyota Huntsville Finishes 168-acre Solar Array

Posted on 19 November 2024 by Ken Zino

Toyota (NYSE: TM) and Toyota Tsusho America (TAI) and Huntsville Utilities have completed 168-acre solar project. The renewable energy produced will generate ~70 % of Toyota Alabama’s total energy. It is in keeping with the automaker’s goal of achieving carbon neutrality at all of its North American facilities by 2035. In total, the array will generate approximately 62,000 megawatt hours of energy annually, reducing an estimated 22,000 metric tons of CO2 emissions per year.

“Toyota is committed to clean and sustainable power. We know that the collective future for our community and our team members depends on clean mobility, clean air, clean water, and biodiversity,” said Jason Puckett, president of Toyota Motor Manufacturing, Alabama. “We are thankful for our partners on this project who have created a model of environmental stewardship in North Alabama.” Continue reading →

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October Global Light Vehicle Sales Rate at 93 Million

Posted on 18 November 2024 by Ken Zino

The Global Light Vehicle (LV) selling rate for October stood at 93 million units/year, according to an analysis released today by the respected GlobalData consultancy.* Year-over-Year, market volumes rebounded from the previous months’ downward trend. YoY sales were up 6% versus October 2023. However, Year-to-Date sales have a modest increase of 1% compared to the same period last year.

“In October, sales experienced a resurgence across most regions. Sales in China grew 5% YoY, as the domestic market saw a modest recovery driven by subsidies and the ongoing price war. In the US, sales grew nearly 12% for the month, driven by additional selling days and new model releases. Finally, sales in Western Europe remained broadly flat, as the region continues to experience significant political and economic headwinds,” the GlobalData forecast team said. Continue reading →

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Nissan Motor Posts Disastrous First Half Results

Posted on 7 November 2024 by Ken Zino

Nissan Motor Company today in Japan announced weak financial results for the six-months ended 30 September 2024. Net revenue decreased by ¥79.1 billion year-over-year (YOY) to ¥5.98 trillion yen, with consolidated operating profit decreasing ¥303.8 billion to ¥32.9B. This was a paltry operating profit margin of 0.5%. Net income was ¥19.2 billion. Global sales volumes decreased year-on-year to 1.6 million units.*

“Profitability was affected by higher selling expenses and inventory optimization efforts, particularly in the US, along with rising manufacturing or monozukuri costs,” Nissan said in its earnings release. It’s also selling 149,028,300 shares of Mitsubishi, which will reduce Nissan’s stake in Mitsubishi from 34.07%. It could be the beginning of the end of alliances within the Renault-Nissan-Mitsubishi Alliance or the complete demise of the Alliance. Continue reading →

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BMW Q3 2024 Profits Drop 61%

Posted on 7 November 2024 by Ken Zino

BMW AG posted results yesterday for Q3 of 2024 that saw earnings at €1696 million compared to 2023 at €4352M for a plunge of -61.0%. It was the worst quarterly performance in ~four years. Consequently, its stock took a beating.

“Group revenues remained significantly down on the previous year in the third quarter of 2024 at 32,406 million (2023: € 38,458 million; -15.7%; adjusted for currency effects -15.3%). The primary reasons for this decline were negative volume effects and product mix effects in the Automotive segment resulting from delivery stops related to the supplied ABS [There were ~1.5 million vehicles recalled for a bad braking system- Autocrat], among other factors,” BMW said in an earnings release. Continue reading →

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Trump Presidency Effects on Auto Industry – All Bad?

Posted on 6 November 2024 by Ken Zino

After the election of Donald Trump, Jeff Schuster, Vice President Research Automotive at the GlobalData* consultancy, offered thoughts some of the changes expected in the US automotive industry from Trump 2.0. Fasten your safety belts! AutoInformed thinks it’s going to be a bumpy job, climate and economy threatening ride.

“Automotive is one of the sectors that could see a significant mid-term impact from the new Trump presidency in the areas of Trade, Electric Vehicle Transition and Regulations, “said Schuster this morning. Continue reading →

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October 2024 US Light Vehicle Sales Up at 1.34 Million

Posted on 5 November 2024 by Ken Zino

Light Vehicle (LV) sales grew by 11.5% year-on-year (YoY) in October 2024, to 1.34 million units. Although the month had two additional selling days than it did in 2023, sales still exceeded expectations and provided a more cheerful perspective on the industry than has generally been the case in recent months, according to preliminary estimates released today by the respected GlobalData consultancy.

“Sales have generally disappointed for much of 2024, but October provided a pleasant change of pace. While the fundamentals of the market have probably not shifted to a great extent, some consumers appear to have been enticed by the gradual uptick in incentives, allied with greater vehicle availability and an easing in interest rates. A number of brands highlighted how Electric and Hybrid Vehicles performed better,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading →

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U.S. International Trade Deficit Up in September

Posted on 5 November 2024 by Ken Zino

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $84.4 billion in September, up $13.6 billion from $70.8 billion in August, revised. As the economy continues to expand, consumers are buying more raising the deficit. The news comes on Election Day where under new Trump Administration – if it returns – proposed tariffs by Trump will cost consumers billions upon billions of dollars, send the cost of living soaring and hurt the economy overall. Trumpa-nomics 2 the sequel: Tanking the Economy Again. Continue reading →

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Oh Canada – Magna Q3 Sales Off but Net Earnings Up

Posted on 1 November 2024 by Ken Zino

“We continue to mitigate industry headwinds including lower production volumes in each of our core regions. Our ongoing initiatives and results to date reinforce our conviction in our free cash flow outlook this year and beyond. As we continuously seek to optimize value creation, we are resuming share repurchases in the fourth quarter –ahead of our prior plan,” said Swamy Kotagiri, Magna’s Chief Executive Officer. Continue reading →

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Stellantis Q3 2024 – Shipments and Revenues Plunge

Posted on 31 October 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA) said today that during Q3 2024 net revenues of €33.0 billion were down -27% compared to Q3 2023 as consolidated shipments of 1,148,000 were down 279,000 or -20% year-over-year. Stellantis also confirmed its diminished 2024 financial guidance, which was updated on September 30, 2024.*

“While Q3 2024 performance is below our potential, I’m pleased with our progress addressing operational issues, in particular U.S. inventories, which have been reduced meaningfully and are on track for year-end targets, as well as stabilization of U.S. market share. In Europe, stringent quality requirements delayed the start of certain high-volume products, but with progress resolving challenges we will soon benefit from the significantly expanded reach our generational new product wave brings to 2025 and beyond,” claimed Doug Ostermann, CFO, who replaced Natalie Knight earlier this month. Stellantis is also looking to find a successor for CEO Carlos Tavares, who will retire from his seat in 2026.

In what seems to be a “whistling past the graveyard” release appropriate for Halloween, Stellantis put forth yet again its transition plan. Stellantis’ 14 brands are to some degree or other at the heart of the Company’s planned revival/survival with ~20 new products expected this year. Continue reading →

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Ford Posts Weak Q3 Results. Stock Dropping on Cut Outlook

Posted on 29 October 2024 by Ken Zino

Ford Motor Company (NYSE: F) posted Q3 2024 of $46 billion; net income of $0.9 billion, including a previously announced $1 billion electric vehicle-related charge, as well as an adjusted EBIT of $2.6 billion. Cash flow from operations in Q3 was $5.5 billion, and adjusted free cash flow was $3.2 billion. At quarter-end, Ford had nearly $28 billion in cash and $46 billion in liquidity. It’s going to need it: Ford’s profit margin was razor-blade thin at 1.9%. Perhaps worse, full-year 2024 adjusted EBIT is  now forecast at ~$10 billion. Nonetheless, Ford declared fourth-quarter regular dividend of 15 cents per share. Head hunters are also on the street looking for a new chief of staff. Continue reading →

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Honda Recalls Accords, Civics, CR-V Hybrids for Fuel Leaks

Posted on 28 October 2024 by Ken Zino

American Honda Motor is recalling ~721,000 vehicles because the high-pressure fuel pump may crack and leak fuel creating a fire hazard. Affect are 2023-2024 Honda Accord, Accord Hybrid, 2023-2025 Honda CR-V Hybrid, and 2025 Honda Civic and Civic Hybrid vehicles. Warnings may include a fuel odor while the vehicle is driven or idling.

“Due to improper production of the high-pressure fuel pump, cracks can form at the solenoid core component of the fuel pump. As a result, a fuel leak can occur in lower mileage vehicles when the high-pressure fuel pump is in operation,” Honda said in the required NHTSA filing. As of 7 October 2024, Honda has had 145 warranty claims, and no reports of injuries or deaths related to this safety defect from February 2023 through September 2024. Continue reading →

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More Ford Recalls – 2024 Rangers and 2024-2025 Broncos

Posted on 28 October 2024 by Ken Zino

Ford Motor Company (NYSE: F) ) is recalling 2024 Ranger, and 2024-2025 Bronco vehicles. The front upper-control-arm ball joint nut may not have been installed or tightened properly, allowing the front upper control arm to detach from the knuckle assembly, … Continue reading →

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Ford Recalls Mach-E Models for Power Brake and other Failures

Posted on 28 October 2024 by Ken Zino

Ford Motor Company (NYSE: F) is recalling 2021 Mach-E vehicles because An Over-The-Air (OTA) update to the Anti-lock Braking System (ABS) may result in a loss of power brake assist, ABS, Electronic Stability Control, Traction Control, and driver assistance features. The instrument cluster will display several ABS-related warning lamps and text messages at vehicle startup, according to the required filing made public by the National Highway Traffic Safety Administration today. Continue reading →

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