Category Archives: economy

What Does American Made Mean?

The website Cars.com released its 2023 American-Made Index® today at a time of intense discussion about whether the term means anything. The standards for the American-Made Index include location of final assembly; percentage of US. and Canadian parts; country of origin for available engines; country of origin for available transmissions; US manufacturing employees relative to the automaker’s footprint. Continue reading

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Diesels Still Selling in the EU New Car Market

Preliminary May diesel market share figures for the European Union show that ~16.8% of new car sales were with a diesel engine, including diesel hybrids, according to data just publicly released by the respected LMC Automotive consultancy, part of the GlobalData. *

LMC also confirmed that the April diesel share was 17.1%. The latest share figure is a 2.7 percentage-point drop from the year-ago sales, while volume, conversely, rose by ~5000 units to just under 170000 sales,” LMC said. Continue reading

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FedEx Canada Receives first BrightDrop Zevo’s

FedEx Express Canada in Toronto today received  its first 50 BrightDrop Zevo 600 electric delivery The introduction of BrightDrop’s electric vans into the FedEx fleet in Canada is part of the company’s goal to transform its entire parcel pickup and delivery (aka PUD – we didn’t make this acronym up they did – AutoCrat) fleet to all-electric, zero-tailpipe emission vehicles by 2040. Continue reading

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US Auto Sales Soar in May

“After a particularly robust result in April, it would not have been surprising if May sales were a little disappointing, but instead, we interpret May’s outcome as another encouraging one for the industry,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading

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Chinese April Sales Soft – EV Exports Threaten Global Trade

AutoInformed notes here that the Biden Administration’s Inflation Reduction Act is actual a climate change and industrial policy bill that has global trade implications among US allies, trading partners and hostile states – say Russia and China. This is leading to the creation of a new term that will replace “offshoring” in trading and policy jargon.  How about “friend shoring,” which is starting to emerge in automotive circles. Continue reading

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May US Light Vehicles Sales Forecast Up 20%

“The industry is positioned for another strong month in May as retail sales are estimated to surge 9.6% from a year ago. This positive performance is complemented by a projected 0.7% increase in average transaction prices. As a result, it is anticipated that consumers will spend nearly $47 billion on the purchase of new vehicles in May, showcasing a significant 13% growth from a year ago,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading

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Global Light Vehicle Sales Soar in April 2023

Numerous national or regional markets have advanced from an easing of supply constraints, with overall YoY growth of 25%. China, the world’s largest auto market remains problematic. Continue reading

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Toyota Motor FY 2023 Finishes with a Strong Q4

However, the strong performance coming from the easing of Covid-induced supply shortages wasn’t enough to overcome relatively disappointing Q1, Q2 and Q3 results, as well as rising material costs. Continue reading

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April US Transportation Sector Unemployment Up Slightly

The April 2023 rate was above the April 2022 rate of 3.6%. This was just above the pre-pandemic April level of 3.7% in 2019. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May 2020 and July 2020 during the Trump administration. Continue reading

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NADA – 2023 US Sales Forecast at 14.6 Million

Forecasting is a risky business in these times. Multiple factors are in play. The increasing number of new-vehicle incentives also contributed to the April sales gains. According to J.D. Power, average incentive spending per unit in April is expected to total $1599, an increase of, gulp,  58.9% compared with April 2022. While average incentive spending has risen from extreme lows, it has not increased at the same rate at all automakers. Some brands have been able to finally increase new-vehicle supply, but others are still struggling. To state the obvious, brands with more to sell are positioned to offer  incentives. Key here might be the return of Memorial Day sales later at the end of May. Continue reading

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Ford Motor Q1 Sales, Profits, Cash Flow Up. But…

Late yesterday Ford Motor posted Q1 2023 revenue of $41.5 billion, up 20% from the same period a year ago on shipments ~1.1 million vehicles, a 9% increase with $1.5B in net income. A year ago Ford posted a net … Continue reading

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April US Light Vehicle Sales up 10%

Average transaction prices are high by historical standards and continued to be up (by 3.6%) YoY in March. However, prices have declined month-on-month (MoM) in each month of 2023, and this trend is expected to have continued in April, with incentives also beginning to creep up. In March, incentives were up by 56.2% YoY, from an extremely low base. Continue reading

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PACCAR, Toyota to Sell Fuel Cell Trucks in 2024

The expanded agreement supports ongoing development and sale of zero-emission versions of the Kenworth T680 and Peterbilt 579 models with  Toyota’s hydrogen fuel cell powertrain kit. Initial North American customer deliveries are planned for 2024. Continue reading

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US New Vehicle Sales Soar in April 2023 at 1.3 Million

“The industry is poised for another favorable month in April, with projected retail sales expected to increase 5.9%, accompanied by a 2% increase in average transaction prices. Consequently, it’s expected that consumers will spend ~$47.5 billion on new vehicles this month, reflecting 2.9% growth compared with the same month a year ago,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading

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GM Posts 2023 Q1 Revenues of $40B, Earnings of $2.4B

General Motors (NYSE: GM) today reported first-quarter 2023 revenue of $40.0 billion, net income attributable to stockholders of $2.4 billion – EBIT-adjusted $3.8 billion. Earnings per share of $2.21 increased from $2.09 (diluted and adjusted) year-over-year. GM delivered 1.38 million … Continue reading

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