Category Archives: news analysis

Ford Motor Posts Good Earnings But Weak Net Income

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

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

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

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

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

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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IMSA LMDh: Cadillac and Porsche Testing Together

This is where Porsche comes in. The sessions at Sebring International Raceway were the first collaborative LMDh test as Cadillac was joined by Porsche on the track. The cooperation between the OEs during the development of the spec hybrid system will contribute to the success of the broader program, according to GM sports car program manager Laura Wontrop Klauser. Continue reading

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Tilt! Stellantis and GAC to Stop Jeep China JV

Stellantis and GAC will proceed to an “orderly termination of local Jeep production, while Stellantis will recognize a non-cash impairment charge of approximately €297 million in first half 2022 results.” Continue reading

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Stellantis Startup Awards Honor Technology, Innovations

Since the creation of Stellantis in January 2021, the Company has engaged with hundreds of startups and signed more than 40 contracts. Stellantis’ top executives, including Chief Technology Officer Ned Curic, presented each of the finalists with a customized non-fungible token (NFT) trophy. Created by the Stellantis Design Studio, the NFT is an artistic interpretation of intertwined hands expressing the concept that in turbulent times, ideas prevail. Continue reading

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Demand Greater than Supply during June in US

“The shortage of microchips continues to limit vehicle production, but it’s not the only hurdle. Numerous other supply chain disruptions have limited OEM production, and many OEMs continue to nearly complete their vehicles and park them while they await chips. Unfortunately, these supply chain issues will continue to limit new-vehicle production, inventory and sales levels for the rest of the year,” said Patrick Manzi, chief economist of the National Automobile Dealers Association.   Continue reading

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More Stellantis Startup Ventures Coming

Stellantis, the mega-merger of  FCA and PSA,  claims it will be “the industry champion in the fight against climate change, reaching carbon net zero emissions by 2038.” The revised and sweeping and difficult plan as presented is aspirational and similar to other global automaker’s plans as the deadly effects of climate change continue to worsen. Carlos Tavares, Chief Executive Officer, will share the Company’s latest strategic moves.  Continue reading

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Mercedes-Benz and Unions Agree on EV Production Plans

This means that the Works Council and the powerful IG Metall union, which represents the industrial sector in Europe’s largest economy, supports how the factories are being allocated. The production portfolio already includes six all-electric Mercedes-EQ models. These are being bult at six locations on three continents. Continue reading

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Automaker Profits Post-Covid Hiding Supplier Weakness

The continued trend delivers a “complex backdrop for an industry committing $526 billion through 2026,” AlixPartners’ analysis finds, to fund the shift to battery-electric vehicles (BEVs). The transition, now taking place amid a weakening economic outlook, could cost automakers and suppliers $70 billion if not effectively managed, the analysis finds. There are several implications for consumers here – not all of them benign. Continue reading

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Ford Europe Says Valencia Will Make Next Gen EVs

In the problematic world of labor relations, Ford is also moving ahead on the $2 billion conversion of its Cologne, Germany, operations to begin producing electric passenger vehicles starting in 2023. Continue reading

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EV Consideration is Up but Skepticism is a Challenge

AutoInformed notes once again that Republican Party opposition to the Build Back Better Bill, which has substantial funding for charging stations needed to help automakers sell EVs, is yet another puzzling position reversal for a party that is now against supporting business? Continue reading

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