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Category Archives: economy
Stellantis Shareholders Approve €4.2 Billion Dividend
The proposed distribution means a payment to the holders of common shares of €1.34 per outstanding common share. Shareholders holding common shares traded on the NYSE will receive $1.463548 per common share based on the official USD/EUR exchange rate reported by the European Central Bank on 12 April 2023. Continue reading
EPA Wants Toughest Federal Emission Standards Ever
Thus far automakers are not commenting in public with details. AutoInformed suggests that this is likely due to the complexity of the problem and backroom lobbying by special interests groups and affected companies or international automotive groups with complex regulatory environments, so to speak, in various areas.
However, the European Union, Britain and Canada have at present enacted similar vehicle emissions standards designed to phase out the sale of new gasoline-powered vehicles by ~2035 while transitioning to electric vehicles. Continue reading
Posted in economy, electric vehicles, environment, fuel economy or emissions, global warming, milestones, news analysis, transportation
Tagged auto industry commentary, autoinformed.com, Biden-Harris Administration, carb, carbon footprint, climate change, co2, Death of the diesel, global warming, greenhouse gases, Ken Zino, Michael S. Regan, The American Council for an Energy-Efficient Economy
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FAA Grants $19M for University Research on Noise Reduction
“Research is the gateway to breakthroughs. With the best minds, we can reduce noise and fly with net-zero emissions by 2050,” said Acting FAA Administrator Billy Nolen. Continue reading
March 2023 Western EU Passenger Vehicle Sales at 10.9M
All of the five largest Western European countries posted strong YoY growth in registrations. However, this was largely because 2022 provides a weak base of comparison, along with some easing of supply side challenges, aiding the pace of vehicle registrations LMC noted. Continue reading
Toyota Motor North American Sales in March and Q1 Drop 9%
“With 22 electrified vehicle options between both the Toyota and Lexus brands, the most among any automaker, we’re giving customers a choice that fits their lifestyle, pocketbook and needs,” said Jack Hollis, executive vice president, sales, TMNA. “We continue to make improvements to our vehicle inventory to satisfy customer demand, while doing all we can to exceed expectations as we introduce more electrified vehicles throughout the balance of 2023,” Hollis said. He did not address the disconnect between a growing overall market and TMNA’s decline. Continue reading
Posted in economy, marketing, sales
Tagged auto industry commentary, autoinformed.com, Jack Hollis, Ken Zino, TMNA
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GM Q1 2023 US Sales Increase 18% as Trucks and SUVs Lead
General Motors Co. (NYSE: GM) and its dealers delivered 603,208 vehicles during Q1 in the US. This is an 18% increase during the first quarter of 2023 compared year-over-year. GM also estimated that its market share increased by 1.5 percentage points, which would be the largest increase of any automaker. Complete competitive data won’t be available until later this week. GM sold 270,376 full-size and mid-size pickup trucks and full-size SUVs during Q1. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, GM US sales q1 2023, Ken Zino, Steve Carlisle
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Fuji Motorsports Forest to Be a New Corporation, Destination
Arranged around the Fuji International Speedway circuit, Forest will consist of various facilities where motorsports culture can be enjoyed such as the Fuji Speedway Hotel, which offers a luxury experience, the Fuji Motorsports Museum which exhibits historic racing cars symbolizing each era, and garages of Japan’s leading racing teams. There are also spas and restaurants for the enjoyment of all visitors. Continue reading
CARB Environmental Justice Advisory Committee Renewed
“These appointments demonstrate the Board’s commitment to integrating environmental justice and equity as a cornerstone of CARB’s climate programs,” said CARB Chair Liane Randolph. “We know climate change impacts vulnerable communities the most. Each of these members brings a unique perspective from their communities. By partnering together, we can reduce greenhouse gas emissions and address historic inequities by advancing environmental justice and equity in our implementation of the Scoping Plan.” Continue reading
March US Auto Sales Forecast Up. Q1 to Set Spending Record
“March is shaping up to be yet another positive month for the industry. With retail sales forecasted to be up nearly 2%, along with average transaction prices tracking up 3.5%, consumers are on pace to spend nearly $50 billion this month, an increase of 5.5% from what they spent on new vehicles a year ago,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading
BMW Manufacturing Spartanburg Supports 43,000 SC Jobs
The plant’s direct employment base also accounts for 4.8% of all manufacturing jobs across South Carolina. The former Confederate state of South Carolina is currently enmeshed in battle over whether or not to impose the death penalty for abortions. BMW Manufacturing has a Family Health Center at its South Carolina plant for all BMW workers, retirees and their dependents with occupational, primary care services, as well as vision, dental and physical therapy. The combination of cost savings and the benefits of having medical services all in one location offer the company’s non-unionized workforce a progressive option in their healthcare management. The center is a $5 million investment in a 25,000 square foot facility. To say that this would be a politically sensitive at a woke German automaker is an understatement. Continue reading
Stellantis €1.5B Share Buyback Program Starts Tomorrow
The buyback is under the authority granted by the general meeting of shareholders held on 13 April 2022, up to a maximum of 10% of the Company’s capital, or any renewed or extended authorization to be granted at a future general meeting of the Company. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris. Continue reading
Mazda Exporting US-made CX-50 to Mexico from Toyota JV
Mazda North American Operations (MNAO) today announced it has begun to export its US-assembled CX-50 crossover to Mexico, where it only has 18 years of operation. The CX-50 is assembled at Mazda Toyota Manufacturing (MTM), a joint venture in Huntsville, … Continue reading
February 2023 Western EU Passenger Vehicle Sales Up 11%
However, LMC hedged by saying that 2022 is a weak base for comparison. “In YoY terms, the market was up 2.8%, though the same period last year was particularly weak” Continue reading
NADA Economist Predicts 14.6 Million Light Vehicle Sales
“Looking ahead, we believe that vehicle production will show continued improvement in March. Wards Intelligence expects that 2023 Q1 North American light-vehicle production will grow by 7.3% compared with the first quarter of 2022. This should be good news for continued inventory growth throughout the year. We believe that with more inventory available, new light-vehicle sales will increase in 2023. Our full-year forecast is 14.6 million units,” said Manzi. Continue reading
US EPA – 2021 Greenhouse Gas Emissions Up
“For 30 years EPA has worked with researchers, federal partners, and stakeholders to produce a detailed and complete inventory of U.S. greenhouse gas emissions and sinks,” said Joseph Goffman, Principal Deputy Assistant Administrator for the Office of Air and Radiation. Well, yes, but it begs the question what is US regulatory policy doing about reducing the CO2 created by burning fossil fuels that is at the core of US economic activity? Continue reading →