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Category Archives: economy
Forecast is Finally Normal for 2024 US Auto Market
“Our research suggests that Americans are putting more emphasis on buying/owning personal transportation, in contrast to 2018 and 2019, when consumers put a higher value on “access to transportation,” said Jonathan Smoke Cox Automotive Chief Economist. “And after tumbling in 2021 and 2022, satisfaction with the car buying process is expected to improve in the year ahead, thanks in part to better inventory and the return of discounting, but also from improved processes at the dealership that save time and make car buying more efficient.” Continue reading
November Global Light Vehicle Sales at 94,000,000 Annually
“US sales were helped by agreements being settled between the Detroit 3 OEMs and the UAW, ending the strikes, along with increased incentives during Thanksgiving and Black Friday. China’s market in November also benefited from heavy incentives and discounts by OEMs and dealerships. Meanwhile, European regions continued their recovery. With supply constraints fading, adverse macroeconomic headwinds are a concern heading into 2024,” according to the GlobalData Light Vehicle Sales Forecasting Team. Continue reading
CHIPS and Science Act Phase 2 – Growth and Defense
The project will replace aging tools and quadruple the production of chips necessary for critical defense programs, including the F-35 fighter jet program. This begins of the next phase of implementation of the CHIPS and Science Act, a critical part of President Biden’s Investing in America agenda that supports a strong national defense and a growing American economy. Continue reading
Posted in aviation, economy, electronics, engineering, manufacturing, news analysis, people
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, BAE Systems, Biden-Harris Administration, CHIPS and Science Act, CHIPS Incentives, Ken Zino, Secretary of Commerce Gina Raimondo, semiconductors
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Michigan State Fleet – All to be Zero-Emission Vehicles
“Michigan automakers are on the cutting-edge of the world’s switch to zero emission vehicles, and with today’s executive directive to transition our state-owned fleet by 2040, the State of Michigan is leading by example,” said Governor Whitmer. “Getting this done will help drive demand of Michigan-made electric vehicles, lower gas and maintenance costs for the state since ZEVs cost far less to fuel and maintain and reduce air and noise pollution in our communities.” Continue reading
Posted in economy, electric vehicles, energy, environment, fuel economy or emissions, global warming, milestones, news analysis, people, public health
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Governor Gretchen Whitmer UAW, Ken Zino, noise and air pollution, Shawn fain, Zero-emission vehicles
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US Light Vehicle Sales up Again in November 2023
US Light Vehicle (LV) sales grew by 8.5% year-on-year (YoY) in November, to 1.22 million units, according to preliminary estimates from the respected consultancy GlobalData.* The daily selling rate was estimated at 48,900 units/day in November, compared to 48,200 units/day … Continue reading
Volkswagen Raises Pay of US Plant Workers to Resist UAW
Volkswagen of America said today it will increase the pay of its non-union Chattanooga assembly plant workers by 11%. In what is clearly a defensive move against the reformed and increasingly successful United Auto Workers union in the US, which … Continue reading
Record Consumer Spending Spurs US November Sales
“November results indicate a robust performance with double-digit year-over-year sales growth and record consumer expenditures for the month. The consumer expenditure record was due to strong sales growth, which outweighed a 1.9% decline in transaction prices,” said Thomas King, president of the data and analytics division at J.D. Power. “Sales growth is being enabled by improving vehicle availability. Despite the nearly six-week UAW work stoppage, retail inventory levels in November are expected to finish around 1.6 million units, a 7.5% increase from last month and 43.7% increase compared with November 2022, but still over 40% below pre-pandemic levels, King said. Continue reading
Global Automotive Capacity Too High for Demand?
“With the current high-price environment as a backdrop, the progression of the Electric Vehicle (EV) transition and the potential for other external shocks, we can’t help but raise the caution flag about the prospects for the medium-term forecast and a recovery in demand to pre-pandemic levels. We had recently already trimmed the global LV forecast by an average of 7.5 million units a year throughout the forecast horizon, citing pricing pressure as the main driver. However, additional cuts to the outlook post-recovery could be on the horizon if pricing isn’t addressed,” Schuster said. Continue reading
UAW Sweep – Stellantis Contract Approved by Members
“The members have spoken. After years of cutbacks, months of our Stand Up campaign, and weeks on the picket line, we have turned the tide for the American autoworker,” said UAW President Shawn Fain. “The Stand Up Strike was just the beginning. The UAW is back to setting the standard. Now, we take our strike muscle and our fighting spirit to the rest of the industries we represent, and to millions of non-union workers ready to Stand Up and fight for a better way of life.” Continue reading
Posted in economy, labor issues, manufacturing, milestones
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, great recession, Ken Zino, Rick Boyer, Shawn fain, Stellantis 2023 UAW Contract, The UAW Stand Up Strike, UAW Detroit Three contract talks
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October Global Light Vehicle Sales at 94 Million Annually
The Global Light Vehicle (LV) selling rate for October was largely in line with an upwardly adjusted September figure, at 94 million units annually. Year-over Year (YoY) the market was up nearly ~11% last month, and up more than 10% YTD, according to data just released by the GlobalData Light Vehicle Sales Forecasting Team. Continue reading
Mercedes-Benz Opens First North American EV Charging Hub
Mercedes-Benz USA said today that its first Charging Hub* opened at its headquarters in Sandy Springs, Georgia. Additional charging hubs will open across Texas and the Southeast by the end of 2023. Continue reading
Posted in connected vehicles, economy, electric vehicles, environment, global warming, marketing, milestones, news analysis, shows and events
Tagged Athlon, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Buc-ee's travel centers, Franz Reiner, Ken Zino, Mercedes-Benz Charging Hub, Mercedes-Benz HPC NA, Mercedes-Benz Mobility AG, MN8 Energy
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US Airline Employment Above Pre-Pandemic Levels
US scheduled-service passenger airlines employed 533,238 workers in September 2023 or 66% of the industry-wide total. Passenger airlines added 2938 employees in September 2023 for a twenty-ninth consecutive month of job growth dating back to May 2021 as the Biden Administration economic recovery continues. Southwest led scheduled passenger carriers, adding 882 employees. United Air Lines added 736, and Delta Airlines added 708. Continue reading
November 2023 EU Car Market Grows on Mixed Results
In November 2023, the EU’ car market grew by 6.7%, according to data just released by ACEA.* This was the sixteenth consecutive month of expansion. There were substantial double-digit gains in some markets, including two of the largest: Italy (+16.2%) and France (+14%).
However, the German car market retracted, recording a -5.7% decline compared to November 2022, which provided a small base line for comparison across the EU. Overall new car registrations were +6.7% in November; with a battery electric market share at 16.3%. Eleven months into 2023, new car registrations increased by 15.7%, reaching nearly ten million units. With the exception of Hungary, all EU markets grew during this eleven-month period. The four largest markets contributed to this trend: Italy (+20%), Spain (+17.3%), France (+16.2%), and Germany (+11.4%). Continue reading →