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Category Archives: auto news
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
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
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, Ken Zino, pag Q2 2022, roger penske
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GM and LG Chem Have Deal on Battery Materials
The supply agreement – the latest in the EV battery ‘gold rush’ – will help GM meet its growing EV production needs. CAM is a key battery material consisting of components such as processed nickel, lithium and other materials representing about 40% of the cost of a battery cell. Continue reading
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
Aston Martin: 100th anniversary of First Grand Prix in France
Ahead of Sunday’s Grand Prix, four-time F1® world champion Sebastian Vettel drove TT1 – warmly nicknamed ‘Green Pea’ – around Circuit Paul Ricard, 100 years after the celebrated car took to the road circuit of Strasbourg for a 60-lap, 800 km race as one of two Aston Martin entries. Continue reading
At Last? Cadillac Reveals CELESTIQ Concept EV
Whether this is electrifying or compelling enough to send customers back to the fallen brand, time will tell. It is being billed as Cadillac’s electric future that is “inspired by the brand’s 120-year heritage. Continue reading
J.D. Power: Gasoline Powered Vehicle Satisfaction Drops
However, high gas prices have led to a noticeable decrease in fuel economy/range satisfaction among owners of gas-powered vehicles, according to the J.D. Power 2022 U.S. Automotive Performance, Execution and Layout (APEAL) Study released today. The gap between economy/range is only 7 points on a 1,000-point scale. Continue reading
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
Hot, Fast Company: Penske Automotive Increases Dividend 6%
Penske Automotive Group, Inc. (NYSE: PAG) – an international transportation services company, a significant force among premier auto and commercial truck retailers, and a successful racing organization – today announced that its Board of Directors has increased the dividend by $0.03 per share. Continue reading
Japan: Research Association of Biomass Innovation for Next Gen Fuels
The goal is for bio-ethanol fuel production to achieve carbon neutral society. ENEOS Corporation, Suzuki Motor Corporation, Subaru Corporation, Daihatsu Motor Co. Ltd, Toyota Motor Corporation and Toyota Tsusho Corporation have established next gen auto fuels group on 1 July 2022 to study ways to optimize the process of producing fuel. Continue reading
Posted in energy, environment, global warming
Tagged auto industry commentary, autoinformed.com, biomass, co2, ethanol, hydrogen, Ken Zino
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All Porsche Taycan EVs Can be Upgraded to 2023 Specs
“This campaign will allow our customers to benefit from the continuous further development of the Taycan. We have extensively optimized the model series in almost every respect since 2019,” said Kevin Giek, Vice President Model Line Taycan. Continue reading
VW Group Changes EV Strategy, Leadership in North America
Scout will launch all-electric pick-up trucks and SUVs in the U.S. market. Volkswagen, of course, has been haunted for years by its deliberate cheating on deadly diesel emissions levels by using defeat software on EPA compliance tests that made the diesels look compliant when they were far from it*. VW did not say anything about the name Scout, of International Harvester fame, the name it acquired as part another business deal back in 2021. Continue reading
Posted in electric vehicles, milestones, people
Tagged auto industry commentary, autoinformed.com, Herbert Diess, Ken Zino, Pablo Di Si, scott Keogh, Scout
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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
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, endurance racing, imsa, Ken Zino, le mans, LMDh, wec
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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 →