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Category Archives: economy
December US Sales Up. Transaction Prices at Record Highs
Total new-vehicle sales for December 2022, including retail and non-retail transactions, are forecast to reach 1,254,700 units, a 5.3% increase from December 2021, according to a joint forecast from J.D. Power and LMC Automotive.* December 2022 has the same number of selling days as December 2021. The record transaction prices means that buyers are on track to spend nearly $48.2 billion on new vehicles this month, a slight -0.3% decrease from December 2021. Continue reading
EPA Final Heavy-Duty Truck Standards Released, Well, Finally
The new standards are long overdue. They are the first update to clean air standards for heavy duty trucks in more than 20 years. EPA says they are more than 80% stronger than current standards. Continue reading
US Wholesalers at $9671 Billion Post 20% Increase in 2021
The latest data along with plummeting fuel prices and decreasing inflation are evidence that the Biden Administration economic program is producing promised results in spite of ongoing Republican opposition. In fact, some maintain that the Democrats are now the party of business after the disastrous Trump years. Continue reading
EPA Automotive Trends – 2021 Fuel Economy at Record High. Emissions at Record Low.
Without question advancements in technology and government regulations are prodding industry to reach these carbon reduction achievements. In model year 2021, hybrid vehicles reached a new high of 9% of all production. These vehicles can use a larger battery to recapture braking energy and provide power when necessary, allowing for a smaller, more efficiently operated engine. Continue reading
November Global Light Vehicle Selling Rate Lessens
In crude registration terms, November rose 3.2% YoY (year-on-year) to 7 million units. The year-to-date (YTD) figure now stands at under 1% below the corresponding period in 2021, though this is a weak base for comparison., LMC noted. China’s market decelerated sharply in November. In YoY terms, sales fell by 7% in November, ending five straight months of strong rebound. North America and Europe are still struggling YTD as supply-side factors continue to hamper sales. Continue reading
US Airlines Add Jobs for 18th Consecutive Month of Growth
Scheduled US passenger airlines added 3398 full-time equivalents* in October for 18th consecutive month of job growth, the USDOT Bureau of Transportation Statistics said today as the Biden Administration economic recovery continued. Continue reading
Biden Admin Making American Manufacturing Great Again
It is the latest fulfillment of the Biden Administration’s pledge to protecting American jobs, as well as the Constitution, in stark contrast to the last mis-administration. In Michigan, the Department of Energy also launched next steps in the Battery Workforce Initiative (BWI), a program geared toward supporting workforce training for good clean energy manufacturing jobs and the development of strategies to bring supply chains back home from overseas. Continue reading
Posted in economy, environment, global warming, milestones, news analysis
Tagged Advanced Technology Vehicles Manufacturing, auto industry commentary, autoinformed.com, Battery Workforce Initiative, doe, DOE Loan Programs Office, General Motors’ Ultium Cells, Jennifer Granholm, Julie Su, Ken Zino
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November US Light Vehicle Sales Up. Uncertainty Remains
General Motors led the market, with a 17.6% share, 2.4 pp ahead of Toyota Group. Stellantis saw the largest YoY decline of the major automakers, down by 13.2% YoY. Honda Group continued to struggle with a -6.1% YoY drop. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, Jeff Schuster, Ken Zino, lmc automotive
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Federal Reserve Chair Powell Says Inflation Remains Too High
The remarks today are important to the US auto industry since it is responsible for a total of 10.3 million American jobs, or about 8% of private-sector employment as well as $650 billion in direct, indirect, and induced paychecks, according to the Alliance for Automotive Innovation*. More than $272 billion annually is contributed in the form of federal, state, and local tax revenues. This includes more than $70 billion in income taxes and $10 billion in corporate profit taxes.
Auto companies in our view need to demonstrate a degree of flexibility and speed of analysis and reaction that – much like the Covid Pandemic and Putin’s war against Ukraine – were not part of the usual operating procedures. Continue reading
EU Commercial Vehicle Registrations -8.5% in October
In a demonstration of the murky answer to the question “is the ongoing European-recession glass half-empty or half-full?”, ACEA* said today that the EU market for new commercial vehicles continued to scuffle, declining for the sixteenth month in a row at -8.5% vehicles.
However, year-to-date registrations of new commercial vehicles across the European Union contracted by 16.8% to 1.3 million units. So things are improving somewhat since the rate of decline is decreasing. Moreover, the truck and bus segments performed better than in October 2021. Continue reading
Posted in economy, news analysis, sales
Tagged acea, auto industry commentary, autoinformed.com, eu, Ken Zino
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November US New Vehicle Sales Forecast Record Consumer Spending of $42.8B. Global Sales Good, but Fluid
New-vehicle transaction prices continue to rise, but slower than earlier this year. The average price in November will set a record for the month of $45,872, an increase of 3.1% from a year ago. The record transaction prices mean that buyers are predicted to spend nearly $42.8 billion on new vehicles this month, the highest level ever for the month of November and a 7.0% increase from November 2021 as the Biden Administration recovery continues. Continue reading
GM Raises 2022 Earnings, Offers 2023-25 Performance Goals
General Motors Co. (NYSE: GM) at its annual investors’ meeting in New York City significantly raised its 2022 financial results predictions. GM now projects full-year 2022 adjusted automotive free cash flow will increase to $10-11 billion from its previous guidance of $7-9 billion. GM now projects 2022 EBIT-adjusted for the full year will be in a range of $13.5-14.5 billion, compared to its previous guidance of $13-15 billion. Continue reading
California Leading Transition to Clean Fuels, Technologies
Since California is the fourth largest economy in the world*, it will have a tremendous impact on other US States and international economic blocks as the demand created for cleaner fuels and methods will be a so-called virtuous circle that encourages innovation and then adoption of what emerges for economies of scale. Continue reading
October Global Light Vehicle Sales at 7.1M Units
Year-to-date (YTD) sales are off ~1% compared to the weak covid-afflicted base of the 2021 plague. “Despite China experiencing a third consecutive month of slowing selling rates, YTD sales were up 8%. However, North America and Europe continue to struggle YTD as supply constraints hamper performances ahead of worsening macroeconomic conditions,” LMC observed. Continue reading
Bah Humbug! SEMA on Congressional Inaction on Racing Parts
SEMA was referring to the “Recognizing the Protection of Motorsports Act” (RPM)* that has hobbled around congress for three years staring with the 114th Congress, including the 2021–2022 session of Congress. The Senate Environment & Public Works (EPW) Committee and the House Energy & Commerce Committee were involved in the bill, but members weren’t able to get it out of the House or Senate committees for lack of, well, horsepower. Perhaps the bills sponsors, who were overwhelming Republican (102 Republicans, 30 Democrats), were part of the problem. The Republicans aren’t known for their environmental policies, but rather the opposite as Global Warming repudiators often backed by the fossil fuel industry and perennial opponents to fuel economy or clean air regulations. Continue reading →