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Category Archives: economy
US November Light Vehicle Sales Forecast Down Again
“Retail inventory on dealer lots is expected to end below one million vehicles for a fourth consecutive month, with sales in each month being dictated by the number of vehicles delivered to dealerships rather than reflecting actual demand,” said Thomas King, president of the data and analytics division at J.D. Power Continue reading
Posted in economy, news analysis, prices, sales
Tagged auto industry commentary, autoinformed.com, J.D. Power and LMC Automotive, Ken Zino
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CARB OK’s Record $1.5B for Clean Vehicles, Mobility Options
The CARB approval came the same week as the Biden Administration passed its forward looking, far reaching enlightened infrastructure bill will also move the U.S. toward a cleaner*, job creating society for all that not only builds back better, but posies the U.S. for successful leadership in dealing with extreme climate and life-killing global warming. Continue reading
2020 Vehicles Post Fuel Economy, Low Emissions Records
In August, President Biden signed an Executive Order that sets good policy for US citizens with an ambitious new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery electric, plug-in hybrid electric, or fuel cell electric vehicles. EPA also proposed a new rulemaking under the Clean Air Act that by 2026 would establish the strongest greenhouse gas emission standards for cars and light duty trucks in history. Continue reading
Biden’s Build Back Better Act Decreases Budget Deficit!
Some of those budgetary effects are associated with programs that are classified as off-budget. The decrease in the on-budget deficit over that period would be $783.3 billion. To do the math for insurrectionist Republicans, this means ~$14 Billion dollars in the black, which probably because of the color means that most Republicans will no doubt oppose it. The failed former president, currently the insurrectionist in chief residing in Flori-duh, not only didn’t actually do anything to repair the infrastructure despite voluminous weekly (weakly?) announcements that it was infrastructure week, his tax cuts for the rich ran up record deficits. Continue reading
President Biden to Attend GM Factory ZERO Grand Opening
The so-called “Internet of Things” is changing manufacturing plants, enabling connected devices to deliver benefits to quality and safety. Countless systems and equipment rely on connectivity, such as robotics, sensors and the Automated Guided Vehicles that deliver materials across the factory floor. Continue reading
COP26 – CARB’s Liane Randolph New Chair of Transportation Decarbonisation Alliance
Under Governor Newsom, California has made the rapid shift to zero-emission transportation a top priority. The recent $3.9 billion Zero Emission Vehicle package advanced by the Governor in partnership with the Legislature will support the Governor’s Executive Order to ensure 100% ZEV sales for cars and medium trucks by 2035, and a 100% zero emission fleet of heavy-duty trucks and related equipment everywhere feasible by 2045. Virtually all Republicans in California and Nationally led by Senator majority leader Mitch McConnell oppose infrastructure improvements or actions on Global Warming. See Mark Ruffalo and Jonathan Scott on Electile Dysfunction the cure for Limp Democracy. Continue reading
Ford to Take $1B Charge to Buy Back Expensive Debt
Last April, Ford sold $8 billion of bonds as the coronavirus pandemic closed Ford’s factories with a corresponding drop in sales. Actions such as the debt tender offer and the issuance of 0% convertible notes earlier this year, together with a “bet on the come line” of awaited broader access to capital from the new sustainable financing framework, combine with Ford’s objectives to further strengthen its balance sheet and financial flexibility and return its credit ratings to investment grade. Continue reading
Stellantis Posts Q3 Net Revenues of €32.6 Billion -14%
Stellantis late yesterday reported Q3 net revenues of €32.6 billion, a decrease of -14% year-over-year. Even with improved vehicle mix and positive net pricing helping revenues, this was more than offset by lower volumes. Results were based on shipments of … Continue reading
Three Military Airports Eligible for Funds for Civilian Operations
The Military Airport Program (MAP) provides funding as a set aside of the Airport Improvement Program (AIP) to help increase civilian aviation capacity at current or former military airports by funding projects such as surface parking lots, fuel farms, hangars, utility systems, access roads, cargo buildings, and other airfield-related infrastructure. Continue reading
Ford Motor Earns $3.0 Billion in Q3
Third-quarter revenue of $35.7 billion was down from the same quarter a year ago. Semiconductor availability remains a challenge, but “markedly improved from the second quarter, propelling sequential increases in wholesale shipments and revenue of 32% and 33%, respectively.” Continue reading
General Motors Q3 Earnings – $2.9 Billion
General Motors Co. (NYSE: GM) today reported third-quarter earnings of $2.922 Billion. GM said it is on track to deliver full-year 2021 EBIT-adjusted earnings approaching the high end of its guidance range of $11.5B to $13 Billion. EBIT-adjusted was $2.9 … Continue reading
Posted in economy, financial results, manufacturing
Tagged auto industry commentary, autoinformed.com, gm financial, gm q3, Ken Zino, LG Electronics
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September West EU Car Sales in Severe Supply Slump
“The latest monthly results are clear evidence of the major sourcing issues that are haunting global vehicle production currently, with dealerships unable to meet consumer demand. Adding to market headwinds, those vehicles that are available are generally higher priced, as OEMs look to target the production of higher margin products,” said LMC. Continue reading
Immunomedics CFO Charged with Insider Trading
Herewith the, err, lowlights from the SEC legal action: while serving as CFO of Immunomedics, Usama Malik learned that the FDA had permitted the company to halt a clinical trial for a breast cancer drug because the existing trial data provided compelling evidence that the drug was effective. Malik – who was subject to a trading “black-out” that prohibited him and anyone living in his household from purchasing Immunomedics stock – immediately told Lauren S. Wood, with whom he lived at the time, as well as three family members. Wood and two of the family members then bought Immunomedics stock, as did an account in the name of the third family member’s spouse. Continue reading →