Category Archives: news analysis

For The Record – Corvette ZR1 Hits 233 MPH

Posted on 31 October 2024 by Ken Zino

The 2025 Chevrolet Corvette ZR1* is now the fastest car ever built by an American auto manufacturer. At a test track in Germany earlier this month, General Motors (NYSE: GM) President Mark Reuss drove a 2025 Corvette ZR1 233 mph, setting a top speed record for any current production car priced under $1 million. The Corvette team set this two-way average speed on the northbound and southbound straightaways of the High-Speed Oval Track at ATP Automotive Testing Papenburg.

“Setting the top-speed record in the Corvette ZR1 is a true triumph for Corvette and for Chevrolet, and also an exhilarating, surreal experience for me personally,” said Reuss. “With the current generation’s switch to mid-engine, we knew the outstanding performance and balance made this a real possibility. To go over there and get it done is a testament to the power of ZR1, and to the incredibly talented team that developed and built it.” Continue reading →

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Software Defined Vehicles – NTT, Toyota Motor Link Together

Posted on 31 October 2024 by Ken Zino

NTT and Toyota Motor Corporation said today in Japan that they have agreed toa  joint initiative in the field of mobility and AI/telecommunications with the aim of realizing a society with zero traffic accidents. (read Ken Zino of AutoInformed.com on: Connected Cars – Toyota and NTT Want Standardization)

“Through their previous collaborations, the two companies have confirmed that they share common values, such as contributing to society through technological and industrial development, a people-centered approach, and global contributions that start in Japan. This time, they will further deepen their collaboration with the aim of achieving a ‘society with zero traffic accidents’ as the first step towards realizing a prosperous mobility society where safety and freedom are in harmony,” the release said. Continue reading →

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Valero Refining Company Fined $82 Million in California

Posted on 31 October 2024 by Ken Zino

The penalty arises from a 2019 inspection that found unreported emissions from the facility’s hydrogen system containing harmful organic compounds in violation of Air District regulations. These organic compounds contributed to the Bay Area’s regional smog and particulate pollution problems. They contained benzene, toluene, ethylbenzene and xylene, or BTEX, compounds, which cause cancer, reproductive harm and other toxic health effects. Air District inspectors discovered that refinery management had known since at least 2003 that emissions from the hydrogen system contained these harmful and toxic air contaminants but did not report them or take any steps to prevent them. The refinery emitted an estimated 8400 tons of these organic compounds in total over this period in violation of Air District regulations – an average of more than 2.7 tons for each day on which a violation occurred, more than 360 times the legal limit. 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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One Payment – VW Maintenance, Insurance, Road Calls

Posted on 30 October 2024 by Ken Zino

Volkswagen Group of America said today that with Volkswagen Financial Services (Volkswagen Credit Inc.) it’s starting a vehicle subscription service for Volkswagen vehicles in the Atlanta metro area. This all-new, month-to-month subscription service for some Volkswagen models bundles maintenance, insurance, and 24/7 roadside assistance into a single monthly payment. It’s branded VW Flex. Beginning today 30 October, Atlanta-area consumers will be able to start their vehicle subscription memberships, selecting from Atlas, Atlas Cross Sport, Tiguan, Golf GTI and Jetta models.

“We’re thrilled our customers have a new mobility option through this partnership with Volkswagen Financial Services,” said Andrew Savvas, Chief Sales and Marketing Officer for Volkswagen North American Region. “This subscription service brings our brand to a whole new segment of consumers who are looking for a simple and flexible mobility option, as well as those who want an easy way to experience the Volkswagen brand for themselves.” Continue reading →

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Volvo Cars Joins Tesla Supercharger Network in North America

Posted on 30 October 2024 by Ken Zino

Volvo Cars* (VOLCAR B:STO) said this week that drivers of its fully electric vehicles including the new EX90 flagship SUV will have access to more than 17,800 Tesla Supercharger stations in the U.S. and Canada.**

“As part of our journey to electrification, we want to make life with an electric car, including our new flagship EX90, as seamless as possible,” said Mike Cottone, President, Volvo Car USA and Canada. Continue reading →

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Penske Automotive Group Q3 2024 Net Income Drops

Posted on 30 October 2024 by Ken Zino

“I am pleased with our financial performance during the third quarter, despite the impact from the stop sale of certain vehicles and the residual impact from the CDK Cyber Security incident. New and used retail automotive gross profit per unit remained strong, retail automotive service and parts performed at record levels, the retail commercial truck business performed well, selling, general, and administrative expenses remained well controlled, and the equity income from Penske Transportation Solutions increased 14% sequentially despite continued freight challenges,” said Chair and CEO Roger Penske. 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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Volkswagen Adds New Collision Avoidance Alerts

Posted on 28 October 2024 by Ken Zino

Volkswagen of America today announced new collision avoidance alerts that can provide advance warning to Volkswagen drivers of oncoming roadside hazards and notify some oncoming vehicles that a Volkswagen vehicle is disabled. Starting later this fall, this technology will be included with VW Car-Net Safe & Secure subscriptions* at no additional charge for most MY24 and MY25 Volkswagen vehicles equipped with the proper technology. Volkswagen is the first automaker in the United States to integrate H.E.L.P. ® (Hazard Enhanced Location Protocol) and Road Awareness collision avoidance alerts within its connected vehicle services.

“Putting these collision avoidance alerts into Volkswagen vehicles advances our commitment to the safety of both our drivers and all others who are on the road,” said Rachael Zaluzec, Senior Vice President of Customer Experience and Brand Marketing at Volkswagen of America. “Volkswagen continues to democratize access to features that help both enhance vehicle safety and exceed the expectations of our vehicle owners.” 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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IIHS – Lax Helmet Laws Kill More Than 20,000 Motorcyclists

Posted on 25 October 2024 by Ken Zino

More than 20,000 motorcyclists who died in crashes in the U.S. since the mid-1970s would have survived if stronger helmet laws had been in place, a new study from the Insurance Institute for Highway Safety shows. Briefly, If every state had required all riders to wear helmets from 1976 to 2022, a total of 22,058 motorcyclists’ lives could have been saved. The number represents 11% of all rider fatalities during those years.

“Requiring all riders to wear helmets is a commonsense rule not that different from requiring people in cars to buckle up,” said IIHS President David Harkey. “We have an obligation to protect everyone on our roadways through smart policy.” Continue reading →

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Annals of Marketing Rolls-Royce Phantom Goldfinger

Posted on 25 October 2024 by Ken Zino

Rolls-Royce Motor Cars today showed a one-of-one Phantom Extended that pays homage to the 1964 James Bond film, Goldfinger – one of twelve Rolls-Royce appearances in the 007 film franchise. Revealed in the film’s 60th anniversary year, it is said to be inspired by the 1937 Phantom III Sedanca de Ville owned by the eponymous villain, Auric Goldfinger. The British license plate ‘AU 1’, which graced the Goldfinger Phantom III in the film, has been secured.. This will remain with Phantom Goldfinger, which has now been delivered to” a significant Rolls-Royce client and collector based in England.” It’s a reference to the chemical symbol for gold on the periodic table of elements. Continue reading →

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The Subaru 2025 Impreza Hatchback Starts at $24,700

Posted on 24 October 2024 by Ken Zino

Subaru of America today said the 2025 Subaru Impreza continues to be offered in Base, Sport, and RS trim levels with prices ranging from ~ $25,000 to $30,000, plus options. The sixth-generation compact hatchback has upgraded safety features, and an optional 11.6-inch Subaru Starlink® infotainment system.

Returning for 2025, the Subaru Impreza RS trim level (~$30,000) has a 2.5-liter Subaru Boxer® engine rated at 182 horsepower, 18-inch wheels, and unique interior and exterior accents. The 2025 Subaru Impreza is produced in Gunma, Japan. How long these prices hold up remains to be seen given the chaos in global currency exchange markets and the strengthening US dollar. The 2025 Subaru Impreza will begin arriving at retailers later this year. Continue reading →

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