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Category Archives: economy
Biden Administration Sets Job Creation Record at 15.7 million
“Too many Americans are still feeling squeezed by the cost of the living. I’m fighting to lower costs by taking on corporate price gouging, capping the cost of insulin and prescription drugs, and calling on Congress to lower rent by building 2 million new homes. Congressional Republicans have a different vision that sides with billionaires and special interests and will supercharge inflation. They’ll impose high consumer tariffs that will cost middle class families thousands of dollars each year, give a giant tax cut to the wealthy, repeal the Affordable Care Act, and allow big corporations to keep ripping off Americans. While they fight for Park Avenue, I’ll keep fighting for working families like the ones I grew up with in Scranton,” said President Biden in a White House statement. Continue reading
Posted in economy, labor issues, news, news analysis, people
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-nomics, Bureau of Labor Statistics, Joseph Biden, Julie Su, June 2024 Unemployment rates, Ken Zino, US June employment report
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CDK Cyberattacks Wound June US Light Vehicle Sales
“Although the industry has become accustomed to dealing with adversity in recent years, the CDK cyberattack was another curve ball that disrupted activity on a number of levels during June. Many dealers that use CDK’s software found it difficult to conduct normal business operations, although reports suggest that workarounds were found in many cases,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Stellantis Adds Another $55 Million to Archer Aviation
“Few things rival the excitement of seeing a dream take flight. I applaud the innovation, expertise and hard work of the engineering and manufacturing teams from Stellantis and Archer,” said Carlos Tavares, Stellantis CEO. “With this additional investment in Archer, we remain on course for a future where freedom of mobility extends beyond today’s roads.” Continue reading
Posted in aviation, economy, electric vehicles, environment, milestones, mobility company, news analysis, transportation
Tagged Adam Goldstein, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, carlos tavares, electric vertical takeoff and landing aircraft, eVTOL aircraft, Ken Zino, NYSE: ACHR, NYSE: STLA
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May 2024 Car Sales Drop 3% in EU
Registrations of battery-electric (BEV) cars declined by 12% to 114,308. The total EV market share dropping to 12.5%. Belgium – now the third-largest market by volume for BEVs – and France were the only key markets to record growth, at 44.8% and 5.4%, respectively. Germany (-30.6%) and the Netherlands (-11.7%) had significant declines. From January to May, a total of 556,276 new battery-electric cars were registered. This is a 2% increase from the same period last, according to the ACEA trade group. Continue reading
Posted in auto news, economy, electric vehicles, marketing, news analysis, results, sales
Tagged acea, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Death of the diesel, EU May 2024 Cars Sales, European Automobile Manufacturers’ Association, Ken Zino
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May 2024 Global Light Vehicle Sales Rate Up Slightly
“Key markets, China and the US, benefited from improved selling rates versus the previous month. In Europe, there was little change for the West of the region in its month-over-month (MoM) selling rate evolution. While Eastern Europe made progress, with the latter once again supported by recovery in Russia. In Japan, the selling rate declined notably as supply issues persist,” the GlobalData light-vehicles sales forecast team said. Continue reading
Stellantis Updates Circular Economy Initiatives at IARC
“Since the introduction of SUSTAINera, in 2022, we achieved very positive results in areas such as parts re-manufacturing, battery recycling and end-of-life vehicles”, said Alison Jones, Senior Vice President of Stellantis’ Global Circular Economy, who delivered a keynote presentation at International Automotive Recycling Congress (IARC), in Antwerp, Belgium. “We remain committed to our target to increase recycling revenues by ten times and achieve more than €2 billion in total circular economy revenues by 2030 – fully in line with Stellantis’ Dare Forward 2030 strategic plan.” Continue reading
Posted in economy, environment, global warming, mobility company, news analysis, public health, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, International Automotive Recycling Congress, Ken Zino, Loi AGEC, SUSTAINera, the Anti-Waste and Circular Economy French law AGEC, VALORAUTO
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Chinese Trade Wars – Exports Growing, Prices Dropping
Two very real problems are increasing for non-Chinese global automakers. First, is the penetration rate. This is the market share of the vehicles that are the future of the companies that will survive what is an historic reshaping of a global industry. Here, so-called New Electric Vehicles – [NEVs – battery electric vehicles, plug-in hybrids and range-extended electric vehicles combined] that have been heavy promoted, subsidized and pushed forward by the Chinese government are now accounting a 43% share in April, an historic high. The economies of scale are enormous and a clear Chinese competitive advantage. Continue reading
Posted in auto news, economy, electric vehicles, electronics, environment, global warming, manufacturing, marketing, mobility company, news analysis, public health, sales, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration, Bidenomics, BYD Qin L, Chinese Trade Wars, consumer electronics, Global Data Analyst comment, GlobalData, internet of things, Ken Zino, Nan Zhang, Xiaomi
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NHTSA Eases CAFE Regs For 2027-2031 Model Years
“Not only will these new standards save Americans money at the pump every time they fill up, they will also decrease harmful pollution and make America less reliant on foreign oil,” U.S. Transportation Secretary Pete Buttigieg said. “These standards will save car owners more than $600 in gasoline costs over the lifetime of their vehicle.” Continue reading
Posted in auto news, economy, energy, environment, fuel economy or emissions, news analysis, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration, corporate aver fuel economy, fuel economy regulations, Ken Zino, Pete Buttigieg, US Department of Transportation
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Toyota to Expand Huntsville Engine Plant
The Huntsville-assembled engines power the Corolla, Corolla Cross, Highlander, RAV4, Sequoia, Sienna, Tacoma and Tundra. Toyota Alabama is the company’s largest engine producer in North America, employing more than 2000 non-union workers who assembled more than 770,000 engines in 2023. Continue reading
Michigan Central Station Reopening June 6th
“Michigan Central means a great deal to us all. In many ways, this building tells the story of our city. This Station was our Ellis Island – a place where dreamers in search of new jobs and new opportunities first set foot in Detroit. But once the last train pulled out, it became a place where hope left. In 2018, I decided it was time to change that by re-imagining this station as a place of possibility again. Over the past six years, Ford Motor Company and teams of forward thinkers, designers, community leaders, and more than 3000 skilled tradespeople have worked to bring this landmark back to life,” said Ford Executive Chair Bill Ford. Continue reading
Posted in auto news, economy, electronics, engineering, environment, milestones, mobility company, shows and events, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Beaux-Arts buildings, Detroit’s Corktown neighborhood, Ford and Michigan Central, Ford Executive Chair Bill Ford, Joshua Sirefman, Ken Zino
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Hydrogen – Plug Power Energy Gets $1.6B Loan Guarantee
“Advancing clean hydrogen is a key component of the Biden-Harris Administration’s whole-of-government approach to building a robust clean energy economy that creates healthier communities, strengthens energy security, and delivers new economic opportunities across the nation. Today’s announcement will help unlock the full potential of this versatile fuel and support the growth of strong, American-led industry that ensures the United States remains at the forefront of the global economy for generations to come,” said Jigar Shah, Director of the Loan Programs Office. Continue reading
Posted in alternative fuels, awards, economy, environment, fuel economy or emissions, global warming, milestones, news analysis, public health, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris Administration, clean energy economy, clean hydrogen, DOE Hydrogen Program, Hydrogen Interagency Task Force, Jigar Shah, Ken Zino
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May 2024 US New Vehicle Sales Forecast Up
US new-vehicle sales for May 2024, including retail and non-retail transactions, are forecast at 1,446,800, a 2.9% increase from May 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData.* May 2024 has … Continue reading
Posted in auto news, economy, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Elizabeth Krear, GlobalData, j.d power, Jeff Schuster, Ken Zino, May 2024 US Sales forecast, May 2024 US Vehicle sales forecast, Thomas King
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Biden Administration Chinese Trade War Tariffs Start August 1
“Today, I am following through on my commitment to stand up to the People’s Republic of China’s unfair trade practices by issuing a formal proposal to modify the tariff actions,” said Ambassador Katherine Tai. “The President has directed me to make substantial tariff increases on targeted, strategic products, and this is an important step to carry out that vision. The President and I will continue to fight for American workers, and for our economic future and national security.” Continue reading
Posted in alternative fuels, auto news, economy, electric vehicles, energy, environment, global warming, labor issues, news analysis, transportation
Tagged Ambassador Tai, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Chinese EV imports to US, Chinese trade war tariffs, forced labor, Ken Zino, People’s Republic of China, United States Trade Representative Katherine Tai
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June 2024 U.S. Transportation Sector Unemployment at 4.8%
Unemployment in the transportation sector was higher than overall unemployment. BLS said that the U.S. unemployment rate, not seasonally adjusted, in June 2024 was 4.3% or 0.5 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in June 2024 was 4.1%. Continue reading →