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Category Archives: economy
Nissan Motor Posts ¥156.6B Profit
Consistent with what other Japanese companies said during earnings week, increased revenue and operating profit were achieved despite “a severe business environment in the first half of the fiscal year, with raw material prices rising sharply and sales volume falling below the previous year’s level due to semiconductor supply shortages and the impact of COVID-related lockdowns in Shanghai, China,” Nissan said. Continue reading
Posted in economy, financial results
Tagged auto industry commentary, autoinformed.com, Dong Feng, Ken Zino
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Mixed Economic Signals in October US Vehicle Sales
Nonetheless, automaker discounts persist at record lows. Average incentive spending per unit per Power is forecast to total $882, which is down 44.7% from October 2021. This is the sixth straight month below $1000. The question is when do vehicles become un-affordable as the Federal Reserve is deliberately sending the economy into a recession to fight inflation, which the Fed caused by years of of cheap monetary policy that mostly benefited the rich. In a mass market for automobiles, the rich can’t buy all the vehicles as production resumes to pre-pandemic rates that were running at 17 million vehicles annually. Continue reading
Posted in economy, news analysis
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, nada, Patrick Manzi
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US October Light Vehicle Sales Grow 11.4% to 1.2 Million
The market viewed by automaker shows that Mercedes-Benz enjoyed the strongest YoY growth in October, with a 53.0% YoY gain. Among higher-volume manufacturers, General Motors showed the strongest growth, up by 51.2% YoY. GM also led the market, with a 17.2% share, 0.9 percentage points (pp) ahead of Toyota Group. Honda Group’s struggles continue with sales down by 16.0% YoY. Stellantis and Ford Motor also saw YoY declines, of 14.0% and 10.2%, respectively. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc automotive
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Ford Motor US Sales Drop 10% during October 2022
A look at the sales by model reveals that Ford is now essentially a truck and SUV maker with dwindling car sales of ~41,000 year-to-date. Lincoln sold no cars at all ytd. Mercedes Benz posted a huge increase in sales of more than 50%. The difficulty in analyzing what the data mean comes from what sales were from previously placed orders, and when the US will return to a normal sales environment, which might be undefinable at this time. Ford no longer holds sales calls for media and analysts. Continue reading
Posted in economy, news analysis, sales
Tagged Andrew Frick, auto industry commentary, autoinformed.com, Ken Zino, tesla
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GM Earns $4.3 Billion in Q3 2022
“This keeps us on track to deliver our third consecutive year of full-size pickup leadership, and our 22nd year as the full-size SUV leader. To build our truck leadership and help maintain our strong margins, Chevrolet and GMC recently unveiled new mid-size and heavy-duty pickups that will launch next year,” said GM chair and CEO Mary Barra. Continue reading
Posted in economy, electric vehicles, financial results, news analysis
Tagged auto industry commentary, autoinformed.com, bolt, cruise, GM, GM Q3 2022 earnings, Ken Zino
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Renault Group Q3 – 20% Increase in Revenue at €9.8B
The Group’s orders in Europe remains at an historic level – the same in volume compared to the end of June. Renault Group also confirmed its 2022 financial outlook*, which will probably meet with analyst skepticism given the ongoing economic crisis in Europe and the negative global effects of Putin’s war against Ukraine. Balancing this is a renegotiation of the Alliance with Nissan, which could bring Renault ~$3.3 billion if it cuts it stake to 15% from 43%. Continue reading
EPA Hydrofluorocarbon Rule Attacks Global Warming
The proposal follows the Senate’s bipartisan ratification of the Kigali Amendment to the Montreal Protocol, a global agreement to phase down HFCs and avoid up to 0.5-degrees Centigrade of global warming by the end of this century. It’s the latest step in assuring US Global Leadership on fighting Global Warming and Extreme Climate Change, which are people, jobs and planet killing. Continue reading
Statistical Quirks Show September EU Car Sales up 10%
This is really a mathematical quirk since the “increase” came from a low base of comparison from September 2021, when the semiconductor shortage hindered vehicle production. This is an economic calamity because 12.7 million Europeans work in the auto industry, directly or indirectly, comprising 6.6% of all EU jobs. Moreover, 11.5% of EU manufacturing jobs, ~3.5 million, are in the automotive sector. Motor vehicles are responsible for €398.4 billion of tax revenue for governments within key European markets. Continue reading
Posted in economy, sales
Tagged acea, auto industry commentary, autoinformed.com, EU Passenger car sales, Ken Zino
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Global Light Vehicle Sales Fall in September
However, LMC noted that notwithstanding a reduced global selling tempo, China’s market remained “robust with year-to-date growth of 8.0%. North America and Europe, however, both experienced a sharp decline in their selling rates as supply issues continued to affect these markets.” Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, JATO Dynamics, Ken Zino, lmc automotive, oxford economics
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Western Europe Car Sales Plunge in September
Although supply constraints are still dictating the pace of vehicle sales, demand is also being eroded by low consumer confidence, high inflation, rising energy prices and contractionary monetary policy. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, european car sales, Ken Zino, lmc automotive
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NADA Cautious on 2022 US Light Vehicle Sales Outlook
However, September 2021 was the weakest since May 2020, because of pandemic induced supply chain disruptions and parts shortages, which resulted in the lowest saleable inventory for more than three decades. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, lmc automotive, nada, Patrick Manzi
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Ford Motor US September Sales Drop 9%
However, Ford is notching some low-volume victories, which might bode well, if – big if – it can transition from its internal combustion engine legacy vehicles – the heart of Ford Motor – while successfully surviving without missing a beat a transplant to an all-electric future. Continue reading
Posted in economy, news analysis, sales
Tagged Andrew Frick, auto industry commentary, autoinformed.com, ford motor sales, Ken Zino
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Russian Oligarch Oleg Vladimirovich Deripaska Indicted
It’s just another example of how treacherous the waters of global trade are for multinational corporations with implications for automobile businesses that operate under totalitarian governments. Continue reading
Posted in economy, litigation, mobility company, people
Tagged auto industry commentary, autoinformed.com, doj, fbi, Ken Zino, Merrick Garland, Ukraine Russian sanctions
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GM Q3 US Sales Up 24%
Three of GM’s vehicle brands posted double-digit total sales gains, with Chevrolet up 30%, GMC up 24% and Cadillac up 50%. GM also claimed ~3-point improvement in retail market share year over year (J.D. Power PIN data), as well as “significant sales gains” in the commercial fleet segment. Continue reading
Posted in economy, manufacturing, news analysis, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, Steve Carlisle
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President Biden at COP 27 Pledges US Leadership on Solving the Climate Crisis
The bold initiatives ended a week when the Climate Change and Election Denying Republican party , the GOPe-nope-dopes, were thumped in US mid-term elections that they and their propaganda outlets falsely predicted would be a red tsunami. Continue reading →