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Category Archives: news analysis
China Light Vehicle Sales Highest Ever in August
“PV wholesales and production numbers for August were in line with our expectation for the month. After the reopening of Shanghai, sales rebounded strongly for the second consecutive month in July, continuing to be boosted by pent-up demand and the temporary purchase tax cut on PVs (from 1 June to 31 December 2022). The local governments’ and automakers’ sales promotions also played a role in the brisk demand. In the recently three months, some of the premium brands have been promoted by the purchase tax preferential policy, and the recovery of the market is obvious,” said LMC. Continue reading
Expanding EV Choices Increase Buying Consideration
“Although these shoppers are easing off the pedal a bit, the percentage of shoppers who are “somewhat likely” to purchase an EV in the next 12 months increased 2.5 percentage points in August,” Krear notes. Continue reading
Toyota Ending Production at Saint Petersburg Plant
“We must now act in a way that allows us to protect the values and principles that our predecessors built up and be confident that we can pass them on to the next generation,” TMC said in a statement. It’s the latest example of global automakers realizing how perilous it is to do business with a mercurial, tyrannical regime. Is China next? Continue reading
IMSA Motul Petit Le Mans – Five Classes Up For Grabs
Right now a total of 48 cars are on the pre-event entry list, the most for the 10-hour race in eight years.** Live coverage will be available through a combination of NBC network, USA Network and Peacock, as well as IMSA Radio. Continue reading
Dealers Think Online Sales to Expand Markedly by 2030
Now wonder then that Jim Farley, CEO of Ford, has been telling dealers they need to trim $2000 from their cost of selling a vehicle to remain competitive in the marketplace. This of course apples to Ford Motor Company as well. Ford is working on an e-commerce program for purchasing EVs at non-negotiable prices. Continue reading
Nissan Develops Breakthrough Technology to Disarm Viruses
This appears to be a medical science breakthrough since the technology has potential applications for inactivating viruses by oxidizing, denaturing and degrading proteins and other substances on the virus surface. With oxygen in the air acting as an oxidant, the catalyst species produces this effect even under dark conditions at room temperature without requiring light irradiation, as is usually the case with oxidation. Continue reading
Ford Motor Q3 Earnings to Take $1B Cost Hit
While some of the problems are of Ford’s own creation, completing affected vehicles will shift some revenue and earnings to Q4. Now Ford says that 40,000 to 45,000 vehicles – comprised largely of high-margin trucks and SUVs – will be completed and sold to dealers during Q4. In the slight of hand of automaker accounting practices, revenue is booked when a vehicle is shipped to the dealer, not sold to the end user. Continue reading
BrightDrop eCart – GM Suddenly Joins Grocery Industry
Kroger, a large grocery chain, is scheduled to be the first customer to introduce the so-called BrightDrop Trace Grocery into its e-commerce operations beginning this year. Trace Grocery is available to order in limited quantities today, with full availability expected in 2024. BrightDrop and Kroger completed an initial pilot program in Lexington and Versailles, Kentucky. During this pilot, it’s claimed “Kroger experienced a noticeable improvement in the customer and associate experience.” Continue reading
EPA Releases Final Smog Air Quality Standards. More Inspection Programs and Reformulated Fuel Areas Coming?
These final rules establish new time periods and next steps states must take to improve ozone air quality in remaining non-attainment areas. EPA said its final decisions are based on a scientific evaluation of certified, publicly-available air quality monitoring data for the years 2018-2020. From a vehicle owner’s viewpoint this means certain areas will have to implement inspection and maintenance programs and/or use reformulated fuels. Continue reading
Detroit Auto Show on the Path of Dinosaurs?
Instead this year as the show moved to warmer times there was a pervading atmosphere of what could be the demise of the show at Cobo Hall – now Huntington Place, which was refurbished at great taxpayer expense to ensure the future of the show. We shall see. Continue reading
Parked: August US Light Vehicle Sales Still at 1.1M
Thanks to an accounting quirk, US Light Vehicle sales were up by 4% YoY compared to August 2021. This positive number comes from a weak 2021 base and an extra selling day, instead of a real recovery of the market, according to an analysis by LMC Automotive* just released. However, actual volumes in the last three months have been flat at ~1.13 million units. Continue reading
DOJ Thwarts Chinese Takeover of Shipping Containers
It’s the latest example of the effective use of Industrial Policy for widespread and long-term consumer and business benefits that virtually all Republicans renounce in favor of policies that only benefit the wealthy, with accompanying tax-payer financed handouts, checks, tax policy and other aspects of a Republican welfare state run solely for the rich. Continue reading
US Retail New Vehicle Sales to Decline in July. Prices Up
Higher prices along with a rising interest rates are leading to monthly loan payments reaching new all-time highs. After breaking $700 for the first time ever in July, the average monthly finance payment in August is forecast to hit a record $716, up $78 from August 2021. That translates to a 12.2% increase in monthly payments from a year ago, which is above the 11.5% increase in transaction prices. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, lmc automotive, Thomas King
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GM Q3 US Sales Up 24%
Three of GM’s vehicle brands posted double-digit total sales gains, with Chevrolet up 30%, GMC up 24% and Cadillac up 50%. GM also claimed ~3-point improvement in retail market share year over year (J.D. Power PIN data), as well as “significant sales gains” in the commercial fleet segment. Continue reading →