Category Archives: manufacturing

General Motors Q3 2024 Earnings Up. Guidance Raised Again

Posted on 22 October 2024 by Ken Zino

General Motors (NYSE: GM) today posted flat Q3 net earnings ($3.1 billion), but with pretax earnings up ~16%. GM’s adjusted earnings before interest and taxes were $4.1 billion in the quarter. Global revenue ~11% to $48.8 billion. North American pretax earnings rose 13% to ~$4 billion. Moreover, GM raised its earnings guidance for the third straight time this year. GM’s 2024 financial guidance includes anticipated capital spending of $10.5 billion – $11.5 billion, inclusive of investments in the company’s battery cell manufacturing joint ventures.

“In the third quarter, we grew U.S. retail market share with above-average pricing, well-managed inventories and below-average incentives. In China, sales improved from the second quarter, and dealer inventory fell sharply. In addition, we remain on track to reach our 2024 EV production and profitability targets,” said Mary Barra, GM Chair and CEO. Continue reading →

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BMW Group Plants Dingolfing, Regensburg Going Photovoltaic

Posted on 21 October 2024 by Ken Zino

BMW said today that Group Plants Dingolfing and Regensburg will obtain electricity generated from renewable energy directly from their own roofs. Dingolfing’s rooftop PV system, with a capacity of 11.1 MWp, will be one of the most powerful in Germany. To achieve this objective, the premium automotive manufacturer is renting roof space at its two plant sites in Eastern Bavaria to Sunrock Holding Deutschland GmbH, which will generate electricity using photovoltaics and make it available to the plants under direct supply contracts from 2025 onward.

“With this project, we are not only creating one of Germany’s biggest rooftop photovoltaic systems – we are also promoting the generation of renewable energy directly on site at BMW Group plant locations,” said Nicole Haft-Zboril, head of BMW Group Real Estate Management. Continue reading →

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Hemlock Semiconductor to Open New Plant in Michigan

Posted on 21 October 2024 by Ken Zino

Governor Gretchen Whitmer of Michigan today confirmed that the Biden-Harris administration provided the proposed direct funding of $325 million to Michigan-based manufacturer Hemlock Semiconductor (HSC)*

“HSC is one of many Michigan-based companies that is helping us lead the future of advanced manufacturing. Thanks to the Biden-Harris administration’s bipartisan CHIPS and Science Act and the U.S. Department of Commerce, we are ensuring HSC’s global leadership in the powerful domestic supply chain to manufacture semiconductor chips needed for everything from computers and phones to AI applications. Together, we are strengthening national and economic security by ensuring supply chains, good-paying jobs, and cutting-edge investments are where they belong—here at home. Let’s build the future we all want—one where America leads,” said Whitmer. Continue reading →

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Mercedes-Benz Opens Battery Recycling Plant in Kuppenheim

Posted on 21 October 2024 by Ken Zino

“Mercedes-Benz has set itself the goal of building the most desirable cars in a sustainable way. As a pioneer in automotive engineering, Europe’s first integrated mechanical-hydrometallurgical battery recycling factory marks a key milestone towards enhancing raw-materials sustainability. Together with our partners from industry and science, we are sending a strong signal of innovative strength for sustainable electric mobility and value creation in Germany and Europe,” said Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG. Continue reading →

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Pirelli Recalls Triumph Motorcycle Tires for Tread Separation

Posted on 18 October 2024 by Ken Zino

Pirelli Tire  is recalling Scorpion Trail II, Metzeler Tourance Next, and Next II tires sold as replacements and for the Metzeler Tourance Next 150/70R18 M/C 70V tire, also installed as original equipment on certain Triumph motorcycles., according to a safety defect filing made public today by the National Highway Traffic Safety Administration.

“Partial detachment of the tread layer and/or a sudden loss of air pressure may cause loss of control, increasing the risk of a crash,” Pirelli said in the required recall filing. Pirelli also said is not aware of any accidents or injuries related to this safety defect in the U.S. Continue reading →

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September 2024 Global Light Vehicle Sales Down Slightly

Posted on 16 October 2024 by Ken Zino

The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales volumes were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.

“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading →

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GM Recalls Blazer, Equinox Models for Sudden Door Openings

Posted on 14 October 2024 by Ken Zino

General Motors is recalling Mexican-built 2025 Chevrolet Blazer, Blazer EV, and Equinox vehicles because the door strikers were not properly heat-treated, which can cause them to break, according to the required filing made public by the National Highway Traffic Safety Administration this morning. This is an extension of a previous recall. Continue reading →

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First Glance – Volkswagen Tiguan Update via Tayron

Posted on 9 October 2024 by Ken Zino

“The new Tayron is a bonafide Volkswagen: its quality is reflected in every detail; it is comfortable and practical for everyday life, and it is available with a wide range of drive systems. With this new Volkswagen SUV, we are further expanding our range in a growing segment and closing the gap between our best-seller, the Tiguan, and our luxury SUV, the Touareg. I am convinced that the Tayron will make its mark and be well received by our customers,”said Thomas Schäfer, CEO of Volkswagen Passenger Cars. Continue reading →

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Sticky Steering Recall for 1.7 Million Honda and Acuras

Posted on 9 October 2024 by Ken Zino

American Honda Motor Co is recalling ~1.7 million 2023-2025 Acura Integra, Civic Type R, CR-V Hybrid, CR-V, HR-V, 2022-2025 Civic, Civic Hatchback, 2024-2025 Acura Integra Type S, 2025 CR-V Fuel Cell EV, Civic Hybrid, and Civic Hatchback Hybrid vehicles, the National Highway Traffic Safety Administration revealed today.

“Due to an improperly produced steering gearbox worm wheel, the wheel can swell during use, reducing the grease film thickness between the worm wheel and worm gear. In addition, the worm gear spring preload was set improperly high, increasing the sliding force between the components. As a result of the reduced grease film thickness and increased sliding force, friction between the worm wheel and worm gear increases,” Honda said in the required NHTSA filing. Continue reading →

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NHTSA Issues Park Outside Consumer Alert for Jeep Fires

Posted on 2 October 2024 by Ken Zino

Owners should park their vehicles outside and away from structures and other vehicles until their vehicle has been remedied. In addition, owners should not charge unrepaired vehicles, because the risk of fire is higher in a charged battery and the risk of fire is reduced when the battery is depleted. Continue reading →

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Mazda Recalls 2016 – 2023 Miata Sports Cars for Bad Airbags

Posted on 30 September 2024 by Ken Zino

Mazda North American Operations is recalling 2016-2023 MX-5 Miata sports cars built in Japan. A software error in the Robert Bosch  supplied air bag control module may cause the front air bags to deploy with excessive force during a crash. Mazda has been aware of the problem for more than a year.

In the required safety defect filing made public by the National Highway Traffic Safety Administration today, Mazda said as of 11 September 2024, it is not aware of any reports of accidents or injuries related to this safety defect. Also, as of this date, no field reports have been received by the United States or Territory markets. Continue reading →

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Beleaguered Stellantis Cuts 2024 Financial Guidance

Posted on 30 September 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA) today revised its 2024 financial guidance, “reflecting decisions to significantly enlarge remediation actions on North American performance issues, as well as deterioration in global industry dynamics.” Actions include North American shipment declines of more than 200,000 vehicles in the second half of 2024 (up from 100,000 prior guidance), compared to the prior year period, increased incentives on 2024 and older model year vehicles. (Read AutoInformed.com on: Stellantis Tanks in First Half of 2024 – Net Profit -48%)*

“The Company will continue to leverage and expand its competitive differentiators and believes that the recovery actions being put in place will ensure stronger operational and financial performance in 2025 and beyond,” Stellantis said in a terse release. “Deterioration in the global industry backdrop reflects a lower 2024 market forecast than at the beginning of the period, while competitive dynamics have intensified due to both rising industry supply, as well as increased Chinese competition,” Stellantis said. Continue reading →

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IPR Center Warns Consumers of Chinese Counterfeit Airbags

Posted on 27 September 2024 by Ken Zino

CBP officers at U.S. ports of entry are looking at imports – particularly those from China – for shipments suspected of containing counterfeit automotive parts. During fiscal year 2023, CBP and HSI seized ~20,000 shipments containing goods that violated Intellectual Property Rights, equating to nearly 23 million counterfeit items. The total estimated manufacturer’s suggested retail price of the seized goods would have amounted to over $2.75 billion had they been genuine parts. Out of those shipments, ~100,000 items were counterfeit automotive goods, with a MSRP of over $10 million. Continue reading →

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Stellantis Holds Media Drive for Chinese Leapmotor EVs

Posted on 24 September 2024 by Ken Zino

The first European Media Drive is now taking place in Milan for the C10 and T03 models of the Leapmotor brand, a Chinese company in the technology field which has the highest growth in the New Energy Vehicle (NEV) sector.* The event, held in Milan and Lake Maggiore, marks the official debut of Leapmotor International in Europe. In a controversial move in October of 2023 Stellantis took 51% of a joint venture with Leapmotor that gives it exclusive rights to build, export and sell Leapmotor EVs outside China.**

“Stellantis will invest more than €50 billion during the next 10 years in the field of electrification and will do everything it can to reach the targets set out in its Dare Forward 2030 strategic plan, including the achievement of a 100% sales mix of BEV vehicles in Europe by 2030 and 50% of BEV passenger cars and light commercial vehicles in the United States. To reach these sales goals, the company is ensuring around 400 GWh of battery capacity with the support of six battery factories in North America and Europe. Stellantis aims to become a zero carbon-emissions company across all sectors by 2038, with a percentage offsetting for an amount of the remaining emissions,” the company formed by the merger of FCA and PSA said today. Continue reading →

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Solid-State Cell Technology – All Hype No Production Way?

Posted on 23 September 2024 by Ken Zino

“With a stream of major cell suppliers regularly announcing ‘major’ breakthroughs in solid-state cell technology, it is proving difficult to discern the reality of the state of play at present.” This from GlobalData’s dedicated research platform, the Automotive Intelligence Center, which was released today as an analyst’s comment.*

“The harsh reality is that 90% of news, plans and solid-state plant activity appears to be bogus, as start of production (SOP) dates slip or vanish, with this being particularly true of information coming from China,” said Oliver Petschenyk Powertrain Analyst at GlobalData. Continue reading →

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