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Category Archives: auto news
Ford to Begin Phased Restart in North America 18 May
Ford initially refused a UAW request to shut down over to weekend of 16 March. Bowing to pressure from the UAW and with a belated portion of common sense and awareness of the COVID-19 pandemic, Ford Motor Company on 18 March said it would stop production at U.S., Canadian and Mexican manufacturing facilities after Thursday evening’s shifts through March 30 to thoroughly clean and sanitize the company’s plants. Continue reading
COVID! GM Q1 Earnings Drop -89% to $0.17 a Share
It’s going to be a long year of going backwards into the Great Depression v2.0 Continue reading
COVID Effects: BMW AG FY Earnings Guidance – Zero
The updated guidance does not, in particular, include, a longer and deeper recession in major markets, a more severe economic slow-down in China as a result of recessions in other parts of the world, significant market distortions due to an even stronger competitive environment and possible implications caused by a second wave of infections and associated containment measures. Continue reading
Multi-Seasonal Self-Driving Data Issued by Ford
Leaving aside for the moment giant unresolved privacy issues and how companies can sell your personal information their benefit not yours, data is needed to help engineers and researchers create software that can teach self-driving vehicles how to analyze their environments. This software used to be called the driver. Continue reading
Alexandra Ford English to Join Rivian’s Board of Directors
The announcement comes at crucial point for Ford Motor as analysts are speculating that future of a challenged Ford – operational competence, liquidity, as well as quality and warranty issues – will require a merger with another global automaker, perhaps Volkswagen. (Bill Ford has been quoted – second hand – by insiders as saying “No.” Then after a pause “Hell No.”) Continue reading
US Q1 GDP Estimates – Negative Growth as Economy Retracts
Given Wilbur Ross’s previous statements the upcoming GDP estimates will be Trump re-election campaign documents, likely as disconnected from economic reality as Trump and his courtiers who stood by and watched the ongoing US COVID-19 disaster happen, claiming it would disappear by the beginning of April. Continue reading
Posted in economy, financial results, news analysis, results
Tagged auto industry commentary, autoinformed.com, Kenneth Zino, US Q1 GDP
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Penske Automotive to Hold Audio Annual Meeting
Stockholders will not be able to attend the Annual Meeting in person; however, stockholders will be afforded the same rights and opportunities to participate as they would at an in-person meeting. Only stockholders of record at the close of business on March 17, 2020 are entitled to vote at, or attend, the Annual Meeting. Penske Automotive did not immediately respond to whether this means no media access. Continue reading
Global Unions Want COVID-19 Dubbed Occupational Disease
The global union movement says workers need official recognition of COVID-19 as an occupational disease. Such recognition would ensure the right to worker representation and occupational safety and health (OSH) rights and the application of agreed measures to reduce risk. These rights include the right to refuse to work under unsafe working conditions. This also ensures employers are responsible and liable and that negligent employers are subject to the application of penalties. Continue reading
BMW Welt in Munich to Reopen on 4 May
Customers can therefore again take delivery of their new BMW in person at BMW Welt. In addition, a limited number of visitors can get personal advice on new vehicles in the BMW Welt showrooms or visit the BMW Welt Lifestyle & Accessory Shop to purchase from a wide range of BMW and MINI branded products. Continue reading
Posted in environment, marketing, milestones
Tagged auto industry commentary, autoinformed.com, BMW Welt Munich, Kenneth Zino
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Porsche Production to restart in Zuffenhausen and Leipzig
However other stricter Porsche measures remain in force until further notice to relieve the burden on the infrastructure at the sites: this means that the greatly increased level of “mobile working” will continue in the indirect areas, and meetings will be held as video or telephone conferences. The ban on business travel also continues to apply. Continue reading
Posted in environment, manufacturing
Tagged auto industry commentary, autoinformed.com, COVID-19, Kenneth Zino, leipzig, Porsche factories, Zuffenhausen
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Daimler Q1 2020 Net Profit Down -92% at €168m from €2149
Daimler says it responded to the “temporary drop in demand” caused by the Covid pandemic by proactively taking production stoppages in March and April. The net liquidity of the industrial business decreased to €9.3 billion at the end of first quarter, compared to €11.0 billion at year-end 2019. The decrease is particularly due to the negative free cash flow of the industrial business. Continue reading
Toyota Group in Full Production of Medical Face Shields
Based on a policy to be “mindful of the feelings of those in the midst of this pandemic, reach conclusions more swiftly, make prompt decisions, and take immediate action faster than ever focusing on safety and security as the highest priorities,” Toyota and Toyota Group companies will do what they can to help efforts on the front-lines of treatment and in limiting the further spread of COVID-19, which has become society’s biggest priority. The Trump Administration in its daily grievance propaganda confrontational sessions expresses no such emotions about the plague victims in the US. Continue reading
Toyota and FAW Restructure Their Joint Company Management
AutoInformed thinks this really is a giant step toward eliminating Germany luxury car makers as the brands of choice in the Chinese market with a Chinese brand with electric, sports and luxury cars. Continue reading
Infiniti: 0% Financing, 90-Day Deferred Payments
Effective immediately, Infiniti Financial Services is offering well-qualified buyers zero percent APR financing for up to 72 months on any 2020 Infiniti model, and will defer payments for 90 days. This offer is available through June 30, 2020. Continue reading
Posted in economy, marketing, prices
Tagged auto industry commentary, autoinformed.com, cdc, infiniti, Kenneth Zino, Trump COVID-19 Denials
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More than 20 Million Jobs Lost in April as ~15% Unemployed
Employment fell sharply in all major industry sectors. There were particularly heavy job losses in leisure and hospitality where the spread was initially ignored as Washington slept – until people, now former customers stopped traveling or died. This was out of self-preservation as the corpses mounted in non-living color on the news and in statistical counts. It was also the result of some Democratically-controlled states where shelter in place was imposed out of concern for the health of residents and not for the health of the increasingly infected Trump reelection campaign. Continue reading →