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- Large European Job Cuts Coming at Ford, Again
- Lexus, Honda Top 2025 U.S. ALG Residual Values
- Pablo Di Si Out at VW Group of America
- DOJ – Cruise Deferred Prosecution for Pedestrian Crash
- Toyota Huntsville Finishes 168-acre Solar Array
- October Global Light Vehicle Sales Rate at 93 Million
- On Sale? New Vehicle Incentives Rise in October
- Vast Executive Reorganization at Hyundai Group
- National Recycling Plan Advancing Circular Economy
- First Look New 2025 Acura ADX Compact SUV
- Chinese EV Trade Wars Hits Volvo Cars
- NHTSA Fines Ford $165M for Flouting Recall Law
- NLRB Rules Against Anti-Union Captive-Audience Meetings
- GM Recall for Wheel Lockup on Diesel Pickups and SUVs
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- NHTSA Fines Ford $165M for Flouting Recall Law | AutoInformed on Ford Recalls Defective Rear-view Cameras on 620,246 Vehicles
- Alfa Romeo Returns to Formula 1 in 2018 via Sauber on Alfa Romeo Returns to Formula 1 in 2018 via Sauber
- American Airlines and JetBlue Alliance Blocked | AutoInformed on Justice Sues to Block JetBlue’s Purchase of Spirit Airlines
- UAW President Shawn Fain on 2024 Presidential Election on Donald Trump is a Scab – UAW Endorses President Biden
- Toyota Motor FY2025 Q2 Earnings Down Significantly | AutoInformed on More Toyota Certification Problems Emerge from MLIT Probe
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Category Archives: economy
National Recycling Plan Advancing Circular Economy
The U.S. Environmental Protection Agency today said its “National Recycling Strategy” is advancing through implementation of the Bipartisan Infrastructure Law.* EPA is central to the Biden-Harris administration’s efforts to build a circular economy thereby creating jobs and helping the environment. Since 1997, EPA has celebrated the nation’s progress on recycling. This year, EPA is encouraging organizations and individuals to continue expanding the ways they reduce, reuse and recycle. Together with investments from the Bipartisan Infrastructure Law, EPA’s work has helped to transform recycling and solid waste management across the nation. It was not immediately clear if the incoming Administration is the result of recycled garbage. Continue reading
Posted in economy, environment, news, news analysis, public health, shows and events
Tagged America Recycles Day, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris National Recycling Strategy, Bipartisan Infrastructure Law, Ken Zino, Michael S. Regan, U.S. Environmental Protection Agency, X @KenAutoinformed
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McKinsey and Hire Heroes USA – Bridging Veteran Career Gaps
McKinsey& Company said today that it is working with Hire Heroes USA to bridge the career gap for veterans. About 60% of the estimated 150,000 U.S. active-duty service members who transition from the military each year earn less during their first year after being discharged versus what they earned during active duty, according to a recent McKinsey article.
“Hire Heroes USA gave me the confidence and tools to return to the workforce. After six years out of the workforce, three years battling cancer, I didn’t know how to navigate job searches and resume writing,” said Samantha Bell, a U.S. Navy veteran who works as a clinical instructor in ABA therapy. “The coaching, friendship, and resources were invaluable as someone who felt lost and alone.” Continue reading
Posted in economy, milestones, news, news analysis, people, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Charlie Lewis, Hire Heroes USA, James O. McKinsey, Ken Zino, McKinsey & Company, Samantha Bell, veterans and employment, X @KenAutoinformed
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BMW Q3 2024 Profits Drop 61%
BMW AG posted results yesterday for Q3 of 2024 that saw earnings at €1696 million compared to 2023 at €4352M for a plunge of -61.0%. It was the worst quarterly performance in ~four years. Consequently, its stock took a beating.
“Group revenues remained significantly down on the previous year in the third quarter of 2024 at 32,406 million (2023: € 38,458 million; -15.7%; adjusted for currency effects -15.3%). The primary reasons for this decline were negative volume effects and product mix effects in the Automotive segment resulting from delivery stops related to the supplied ABS [There were ~1.5 million vehicles recalled for a bad braking system- Autocrat], among other factors,” BMW said in an earnings release. Continue reading
Trump Presidency Effects on Auto Industry – All Bad?
After the election of Donald Trump, Jeff Schuster, Vice President Research Automotive at the GlobalData* consultancy, offered thoughts some of the changes expected in the US automotive industry from Trump 2.0. Fasten your safety belts! AutoInformed thinks it’s going to be a bumpy job, climate and economy threatening ride.
“Automotive is one of the sectors that could see a significant mid-term impact from the new Trump presidency in the areas of Trade, Electric Vehicle Transition and Regulations, “said Schuster this morning. Continue reading
Posted in auto news, economy, environment, fools 'n frauds, labor issues, manufacturing, news analysis, people, results, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GlobalData consultancy, Jeff Schuster, Ken Zino, second Trump Presidency, X @KenAutoinformed
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October 2024 US Light Vehicle Sales Up at 1.34 Million
Light Vehicle (LV) sales grew by 11.5% year-on-year (YoY) in October 2024, to 1.34 million units. Although the month had two additional selling days than it did in 2023, sales still exceeded expectations and provided a more cheerful perspective on the industry than has generally been the case in recent months, according to preliminary estimates released today by the respected GlobalData consultancy.
“Sales have generally disappointed for much of 2024, but October provided a pleasant change of pace. While the fundamentals of the market have probably not shifted to a great extent, some consumers appear to have been enticed by the gradual uptick in incentives, allied with greater vehicle availability and an easing in interest rates. A number of brands highlighted how Electric and Hybrid Vehicles performed better,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Posted in auto news, economy, manufacturing, marketing, news analysis, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration economic recovery, David Oakley, GlobalData, Jeff Schuster, Ken Zino, X @KenAutoinformed
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U.S. International Trade Deficit Up in September
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $84.4 billion in September, up $13.6 billion from $70.8 billion in August, revised. As the economy continues to expand, consumers are buying more raising the deficit. The news comes on Election Day where under new Trump Administration – if it returns – proposed tariffs by Trump will cost consumers billions upon billions of dollars, send the cost of living soaring and hurt the economy overall. Trumpa-nomics 2 the sequel: Tanking the Economy Again. Continue reading
Posted in customer satisfaction, economy, financial results, fools 'n frauds, labor issues, manufacturing, news, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, balance of trade, Chinese trade war, Ken Zino, Trump economics nonsense, Trump taxes on the working class, US Trade deficit, X @KenAutoinformed
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Toyota Motor, Joby Aviation Meet at Toyota’s Technical Center
Toyota Motor Corporation and Joby Aviation executives came together at Toyota’s Higashi-Fuji Technical Center in Shizuoka, Japan on Saturday 2 November. Present were Akio Toyoda, chairman Toyota Group, and Joby CEO and founder, JoeBen Bevirt, along with Joby’s air taxi, an electric vertical takeoff and landing aircraft (eVTOL*). After its first flights in Japan on previous day, the plan was to get senior executives on board, so to speak.
However, the weather kept them on the ground. Nonetheless, their aspirations still soared upward. “Since its founding, Toyota has been working to realize a society in which everyone can move freely. About 100 years ago, in 1925, Sakichi Toyoda, founder of the Toyota Group, offered a prize to encourage the development of a storage battery that could provide enough performance ‘to fly an airplane across the Pacific Ocean.’ Since then, Toyota has continued to focus on the challenge of air mobility through the generations,” Toyota said in a release likely prepared when the Sun was shining. Continue reading
Posted in aviation, economy, environment, milestones, mobility company, news, news analysis, shows and events, transportation
Tagged akio toyoda, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, electric vertical takeoff and landing aircraft, eVTOL, FADEC, Higashi-Fuji Technical Center, JoeBen Bevirt, Ken Zino, Sakichi Toyoda, Shigeki Tomoyama, X @KenAutoinformed
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Volvo Cars Posts Q3 Profit of SEK 5.7 Billion off from 6.1B
“However, achieving these ambitions will not be straightforward since the weakness in the market has recently accelerated – a fact also echoed in revised industry forecasts for 2024 and 2025 by third-party analysts. Overall industry demand continues to soften and is now affecting the premium segment. Our journey towards 2026 will not be linear, as our industry is facing an increasingly volatile environment,” said Jim Rowan, chief executive for Volvo Cars. “Macroeconomic headwinds are intensifying, as is geopolitical complexity. Despite these challenges we demonstrated resilience during the third quarter of 2024, which is reflected in our overall financial performance.”
“Given this accelerating weakness in the market and Volvo Cars’ focus on safeguarding value over volume, the company expects minimal volume growth during the fourth quarter. As a result, it now anticipates full-year sales growth of 7-8%, instead of its earlier forecast of 12-15%,” Volvo said. Today Volvo Car AB closed at SEK 22.49, only 0.47% above its 52-week low of 22.38 set on 16 October 2024.
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Posted in auto news, economy, financial results, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Chinese EV trade war, Jim Rowan, Ken Zino, VOLCAR B:STO, Volvo Cars, Volvo Cars Q3 2024 earnings, X @KenAutoinformed
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Hemlock Semiconductor to Open New Plant in Michigan
Governor Gretchen Whitmer of Michigan today confirmed that the Biden-Harris administration provided the proposed direct funding of $325 million to Michigan-based manufacturer Hemlock Semiconductor (HSC)*
“HSC is one of many Michigan-based companies that is helping us lead the future of advanced manufacturing. Thanks to the Biden-Harris administration’s bipartisan CHIPS and Science Act and the U.S. Department of Commerce, we are ensuring HSC’s global leadership in the powerful domestic supply chain to manufacture semiconductor chips needed for everything from computers and phones to AI applications. Together, we are strengthening national and economic security by ensuring supply chains, good-paying jobs, and cutting-edge investments are where they belong—here at home. Let’s build the future we all want—one where America leads,” said Whitmer. Continue reading
Posted in auto news, economy, electric vehicles, electronics, environment, manufacturing, milestones, news, news analysis, shows and events
Tagged AB Ghosh, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, CHIPS and Science Act, Gina Raimondo, Hemlock Semiconductor, Ken Zino, Michigan Governor Gretchen Whitmer, Michigan Infrastructure Office, semiconductor chips, X @KenAutoinformed, Zachary Kolodin
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September 2024 Global Light Vehicle Sales Down Slightly
The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales volumes were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.
“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading
DOE Backs Utility-Scale Power Storage In Puerto Rico
The U.S. Department of Energy (DOE) through its Loan Programs Office (LPO) today announced the closing of a $861.3 million loan guarantee to finance the construction of two solar photovoltaic (PV) farms equipped with battery storage and two standalone battery energy storage systems (BESS) in Puerto Rico.
“The project is financed under Title 17 Clean Energy Financing Section 1706. Created by President Biden’s Inflation Reduction Act (IRA), EIR can finance projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations or enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or greenhouse gas emissions,” LPO said. Continue reading
Posted in alternative fuels, economy, energy, environment, global warming, milestones, news analysis, public health
Tagged AES Corporation, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Adminstration’s Inflation Reduction Act, Clean Flexible Energy, DOE Loan Programs Office, Ken Zino, Project Marahu, solar photovoltaic power, TotalEnergies Holdings USA, U.S. Department of Energy, X @KenAutoinformed
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Large European Job Cuts Coming at Ford, Again
Ford Motor Company (NYSE: F) announced today its restructuring plans to create a badly needed more “cost-competitive structure.” The main focus is the health of Ford’s passenger vehicle business in Europe, where it incurred significant losses for years. Ford is also lagging in the European shift to electrified vehicles, and new competition – especially Chinese – has been disruptive. Through Q3 of 2024, Ford sales are down ~18% in Europe. Continue reading →