Category Archives: news analysis

Western European Car Sales Point to a Recession

Posted on 5 August 2022 by Ken Zino

Well partially yes, but AutoInformed’s reading of economic data leads us to believe that Europe is in an ongoing recession as the US economy is growing. LMC’s take is, arguably, more optimistic than ours. Continue reading →

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Police Pickup: 2023 Ford F-150 Lightning Pro SSV

Posted on 28 July 2022 by Ken Zino

Ford, which is badly behind in EV sales and development – it made 14,000 EVs in June – has an opportunity here. Ford has been providing police departments with the than 70 years. Ford Pro customers include more than 12,000 police departments across the country now. Ford said “its police vehicle lineup outsells all other police vehicles combined1. The company attributes this success and customer loyalty to the automaker’s close collaboration with its customers through the Ford Police Advisory Board. Continue reading →

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Ford Motor Posts Good Earnings But Weak Net Income

Posted on 27 July 2022 by Ken Zino

However, Ford’s net income was $667 million, a margin of 1.7%, which included a mark-to-market loss of, gulp, $2.4 billion on Ford’s stake in Rivian. Ford is also in the process of slashing costs under its latest restructuring plan, but refused to comment on pending job cuts, which are being reported as around 8000, only to confirm that there are too many people employed at Ford. Continue reading →

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US July Sales Forecast Down. Prices, Profits Still Records

Posted on 27 July 2022 by Ken Zino

Total new-vehicle sales for July 2022, including retail and non-retail transactions, are projected to reach 1,159,700 units, a 5.7% decrease from July 2021. Comparing the sales volume without adjusting for the number of selling days translates to a decrease of 9.2% from 2021. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.7 million units, down 0.9 million units from 2021. Continue reading →

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Penske Automotive Group: Record Q2 Earnings of $500 Million

Posted on 27 July 2022 by Ken Zino

Penske Automotive Group, Inc. (NYSE: PAG) today said it set all-time record quarterly earnings during Q2 of 2022 as earnings before taxes increased 8% to $500 million. Income From Continuing Operations increased 10% to $374 million. Earnings per share increased … Continue reading →

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GM Q2 Earnings at $2.3B Off -$1.1B YoY

Posted on 26 July 2022 by Ken Zino

This was a significant drop of $1.1 billion in a year-over year comparison as net pricing increases, strong demand and more upscale vehicle sales were more than offset by disrupted production, increased costs and lost sales (90,000 built but not complete?) from lean inventories especially in June. In a word – semiconductors. Continue reading →

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GM: Virtual EV Specialists Available for Free Consult

Posted on 25 July 2022 by Ken Zino

The online program offers a space (screen?) for real conversations about EVs. EV Live will also help prepare GM dealers, employees, fleet and commercial customers, utilities and third-party collaborators for the all-electric future that virtually all automakers and some policy people think is coming. Continue reading →

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EV Battery Gold Rush: Ford Has New Battery Capacity Plan

Posted on 21 July 2022 by Ken Zino

Center for Automotive Research data show that Ford is only one maker in the crowd as automakers invest billions in north American EV and battery manufacturing facilities. For almost two decades, the CAR Automotive Communities Partnership (ACP) has tracked announced automotive manufacturing investments In North America. The ACP Book of Deals investment database shows the sector’s commitment to the transformation. According to data collected for the Book of Deals, in 2021, automakers announced $36 billion of investments to build facilities dedicated to manufacturing EVs and batteries. In the first five months of 2022, automakers announced $24 billion in EV-related investments, almost double the investments announced by the same time last year. Continue reading →

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