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Category Archives: economy
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
Mazda Posts Net Income of $7.2 Billion for First Half of Japanese Fiscal Year
“Through the introduction of our Large product CX-90, following the introduction of the CX-60, and ongoing strong performance of mainstay products such as the CX-5, global sales volume increased 20% from the prior year. Other contributing factors were an improvement in market mix with a 40% year-on-year increase in sales in North America, mainly in the high-profit US market,” said Masahiro Moro, President and CEO Mazda Motor Corporation. Continue reading
Posted in auto news, economy, financial results, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, Masahiro Moro, Mazda Motor Corporation, Mazda results first half of the Japanese fiscal year April – September 2023
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Voters Blame Oil and Gas Companies for High Energy Prices
New polling from Data for Progress, Climate Power, and Fossil Free Media finds that voters strongly blame high energy prices on large oil companies and their CEOs.* They think, and believe these companies have too much power in government. Yet, voters remain optimistic about a transition away from fossil fuels and toward clean energy. This shall we say “awakened attitude” should be a warning to the fossil fuel dependent Republican party since it is bipartisan. Continue reading
Mixed Signals in October US Transportation Employment
The unemployment rate* in the U.S. transportation sector was 4.8% (not seasonally adjusted) in October 2023 according to Bureau of Labor Statistics (BLS). In October 2023, the transportation sector unemployment rate rose 1.1 percentage points from 3.7% in October 2022 and was above the pre-pandemic October 2019 level of 2.7% but still below the October 2020 and October 2021 rates. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May 2020 and July 2020. Continue reading
Stellantis Posts Q3 Sales Up 37%. Pre-Tax Profit €3B
Stellantis* today posted a pre-tax operating profit of €3 billion. The company that is partly comprised of Jeep, Dodge Jeep and Ram said the strikes cost it around €750 million. However the strikes – characterized as “work stoppages”- resulted in … Continue reading
Posted in economy, financial results, manufacturing, marketing, news analysis, results
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, carlos tavares, chrysler, Controlled Thermal Resources, Dodge Fiat, fca, Jeep and Ram, Ken Zino, Natalie Knight, Stellantis Q3 2023 results, STLA
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Unifor Stellantis Agreement Good for All Workers in Transition
“After a short strike throughout the night Unifor has reached now a tentative agreement with Stellantis. The deal came about around 7:00 AM this morning, after bargaining throughout the night. And yes, as you can tell all of those here are tired, but also very, very proud of the work that we’ve done for Canadian auto workers. ” said Unifor National President Lana Payne said late this afternoon at a hotel in Toronto. Continue reading
Posted in auto news, AutoInformed Editorial, customer satisfaction, economy, environment, labor issues, manufacturing, milestones, mobility company, news analysis, people, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, economy, James Stewart, Ken Zino, labor issues, Lana Payne, manufacturing, milestones, Mobility Company, news analysis, Unifor Stellantis 2023 contract agreement.
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Unifor and Stellantis Have Tentative Contract in Canada
“I am proud of our members at every Stellantis facility for their quick and decisive action during this brief and effective strike action,” said Unifor National President Lana Payne. “This agreement will considerably improve the living standards of every Unifor member at Stellantis.” Continue reading
Ford Motor 2023 Q3 Net income $1.2 Billion
“I’m very optimistic about the reality we’re creating with Ford+,” said President and CEO Jim Farley. “We’re building a more dynamic, highly talented and customer-focused company at the intersection of great vehicles, iconic brands, innovative software and high-value services.
“We’re also radically changing how we work with a series of actions that put the right people with the right capabilities in the right places across the organization, so that our promise isn’t masked by cost and quality issues,” Farley claimed. Continue reading
Consumer Spending Spree – October US Auto Sales
Total US new-vehicle sales during October 2023 are forecast to reach 1,201,800, a 6.6% increase from October 2022, according to numbers just released by J.D. Power and GlobalData.* The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.5 million units, up 0.9 million units from October 2022. Retail buyers are on pace to spend $43.7 billion on new vehicles, up $0.3 billion from October 2022. 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 →