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Category Archives: economy
Chinese EV Trade War Commences
The Biden Administration has announced today that it will increase tariffs under Section 301 of the Trade Act of 1974 passed overwhelmingly under the Republican President Gerald Ford administration on $18 billion of imports from China to protect American workers and businesses.
“The President’s actions reflect the conclusions of U.S. Trade Representative Katherine Tai’s mandatory four-year review that China continues to engage in unfair practices, such as forced technology transfer and restrictions and intellectual property theft from U.S. companies,” media were told on a background briefing by National Economic Advisor Lael Brainard and Senior Administration Officials. Continue reading
Posted in auto news, AutoInformed Editorial, blog, economy, electric vehicles, fuel economy or emissions, manufacturing, milestones, news analysis, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, department of energy, Ken Zino, Section 301 of the Trade Act of 1974, Section 301 tariffs, solar cell imports from China, steel and aluminum imports from China, U.S. Secretary of Commerce Gina Raimondo, U.S. Trade Representative Katherine Tai
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Toyota Motor Posts Record FY24 Net Income of $39.1B
“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading
Greenhouse Gases – EPA Final Rule for Oil and Gas Sector
“As we implement the historic climate programs under President Biden’s Inflation Reduction Act, EPA is applying the latest tools, cutting edge technology, and expertise to track and measure methane emissions from the oil and gas industry,” said EPA Administrator Michael S. Regan. “Together, a combination of strong standards, good monitoring and reporting, and historic investments to cut methane pollution will ensure the U.S. leads in the global transition to a clean energy economy,” Regan said. Continue reading
Posted in economy, environment, fuel economy or emissions, global warming, milestones, news, news analysis, public health
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GHGRP, Greenhouse Gas Reporting Program, Inflation Reduction Act, Ken Zino, Michael S. Regan, President Biden
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The April 2024 U.S. Jobs Report – is Stable Good?
The U.S. labor market added 175,000 jobs in April, the White House said today via its Council of Economic Advisors. More than 60% of private-sector industries added jobs. The unemployment rate ticked up slightly to 3.9% – it went from 3.83% to 3.86% – and the labor force participation rate held steady at 62.7%. AutoInformed sees nothing in the report that is practically worrisome to the auto industry. What will be telling is if the companies can adjust supply to demand without incurring losses. Continue reading
April 2024 US Vehicle Sales Drop Slightly
“Calendar effects meant that it was always going to be challenging to match last year’s sales in April. However, with replenished inventory levels helping the market to recover a year ago, the industry is now facing a higher bar in order to keep growing,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump
Mercedes-Benz Group AG (MBG.DE) has reported Group Earnings Before Interest and Taxes (EBIT) of €3.9 billion (Q1 2023: €5.5 billion) a surprising drop of -25% but in line with struggles at European-based Volkswagen Group and Stellantis. Continue reading
Posted in auto news, economy, electric vehicles, financial results, marketing, news analysis, results, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Daimler Truck, EV transition issues, G-Class, Ken Zino, Mercedes-Benz Cars, Mercedes-Benz Q1 2024 financial results
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UAW Live – Hours Before Daimler Truck Contract Expires
UAW President Shawn Fain, alongside the UAW Daimler Truck North America Bargaining Committee, will address Daimler workers and allies on Facebook Live just hours before the contract for more than 7000 UAW workers expires at midnight. Continue reading
Posted in auto news, economy, labor issues, manufacturing, news analysis, transportation
Tagged auto industry commentary, auto news, autoinformed.com, automotive blog, customer satisfaction, Daimler Truck North America, economy, Freightliner trucks, Ken Zino, Kenny Dellinger, labor issues, manufacturing, milestones, people, Shawn fain, Thomas Built Buses, uaw, Western Star trucks
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April US New Vehicle Sales Flat as Trade-in Values Drop
Total new-vehicle sales for April 2024, including both retail and non-retail transactions, are estimated to reach 1,304,600 units, a 0.9% decrease from April 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData.* … Continue reading
Posted in auto news, economy, manufacturing, marketing, news analysis, sales
Tagged April 2024 vehicle sales forecasts, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Elizabeth Krear, GlobalData, j.d power, Jeff Schuster, Ken Zino, Thomas King
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Southern Labor Rights Boosted at VW. Daimler Next
The battle with VW management – a later day version of the Ford Rouge battle of the bridge, included outrageous interference by VW management instead of the neutrality stipulated under US labor laws. The Chattanooga plant has now become the symbol and rallying point of the tough fight for workers’ rights, bringing national or global attention* to the struggles and potential of unionizing in the South. Daimler Truck is next. Continue reading
Posted in auto news, customer satisfaction, economy, labor issues, manufacturing, milestones, people
Tagged Atle Høie IndustriALL, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Daimler Truck North America, Freightliner trucks, Ken Zino, Kenny Dellinger, Martin Daum, Shawn fain, Thomas Built Buses, uaw, Western Star trucks
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EPA Finalizes Pollution Reduction Standards for Power Plants
The U.S. Environmental Protection Agency today announced a series of final rules to reduce pollution from fossil-fuel-fired power plants, which have been and likely will continue to be the subject of litigation paid for by special interest money. The rules under separate authorities including the Clean Air Act, Clean Water Act, and Resource Conservation and Recovery Act, will significantly reduce climate, air, water, and land pollution from the power sector as they go forward. During 2024 the United States is forecast to build more new electric generation capacity than it has for two decades. About 96% of that will be clean, according to the current Administration. Continue reading
Posted in economy, electric vehicles, energy, environment, fuel economy or emissions, global warming, news analysis, public health, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris Administration, clean air act, clean water act, Ken Zino, resource conservation and recovery act, U.S. Environmental Protection Agency
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Death of the Diesel – EPA Clean Heavy-Duty Vehicles Grants
In the United States, the transportation sector is the largest source of greenhouse gas emissions. It is also a prominent source of health-harming pollution. Most of the vehicles eligible for replacement are powered by internal combustion engines that pre-date recent EPA emission standards. These vehicles emit harmful pollutants such as nitrogen oxide, fine particulate matter, and greenhouse gases. Continue reading
Posted in alternative fuels, auto news, economy, electric vehicles, environment, global warming, news analysis, public health
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris Administration, Clean Heavy-Duty Vehicles Grant Program, Inflation Reduction Act, Ken Zino, Michael S. Regan, U.S. Environmental Protection Agency
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EPA Grants Emergency Fuel Waiver for Ethanol
The U.S. Environmental Protection Agency today issued an emergency fuel waiver to allow E15 gasoline – gasoline blended with 15% ethanol – to be sold during the summer driving season. This allows Iowa, Kansas, Missouri, Nebraska, and Nine Tribal Nations to sell the fuel that otherwise would be banned for the summer. Estimates show that on average, E15 is about $0.25 a gallon cheaper than E10. Continue reading
Posted in alternative fuels, economy, energy, environment, fools 'n frauds, news analysis, people
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, clean air act, department of energy, epa, Fuel Waiver for E-15 Sales, Ken Zino, Michael S. Regan, President George H. W. Bush, reid vapor pressure
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March 2024 Global Light Vehicle Sales Effectively Flat
The Global Light Vehicle (LV) selling rate stood at 85 million units/year in March, roughly the same with February 2024, according to numbers and analysis released by the GlobalData* consultancy. Worldwide, 8.0 million vehicles were sold last month, a 2% … Continue reading
Chinese Trade Wars – Leapmotor International Established
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM) and Leapmotor (Zhejiang Leapmotor Technologies Ltd 9863.HK) yesterday announced that the two companies have received all required authorizations. The formation of Leapmotor International B.V., a 51%/49% Stellantis-led joint venture, is now complete. The notice was made as the US escalated its tariffs and sanctions against Chinese made EVs, batteries and other industrial products. Continue reading →