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Category Archives: economy
California Greenhouse Gases – Emissions Drop Continues
“This inventory is good news, but much larger reductions are needed to reach the ambitious 2030 target — an additional 40% reduction below the original 2020 limit,” said CARB Chair Liane M. Randolph. “We are now once again witnessing massive wildfires and recurring heat waves while large parts of our state are suffering from extreme drought. This is a clear call to redouble our efforts to protect those communities already hard hit by pollution and climate change, and to move with all possible speed to achieve carbon neutrality by mid-century as quickly as possible.” Continue reading
Daimler Q2 Results – Group Net Profit of €3,704 million
However, Daimler assumes that the current worldwide supply shortage of semiconductor components will affect Mercedes-Benz Cars unit sales also in the third quarter. Mercedes-Benz Cars unit sales “could be in the magnitude of the second quarter or below.” Full year unit sales are expected to be at prior year level (previously: significantly above). Continue reading
EU Gets Tougher on Climate Change – Wants All EVs by 2035
Let the adverse lobbying begin by the plump, wealthy sacred cows of the polluting establishment – including countries such as Germany with a strong carbon-based economy and its global auto industry – who face butchering by increasing market incentives for consumers to force them to speed the move away from fossil fuels as not only the climate clearly heating up and changing – deadly floods in Germany and Belgium, as well as floods and fires in the Americas, scorching temperatures globally – but the political climate is heating up to do more now over what is clearly the growing negative effects of runaway climate change. Continue reading
Covid – Commerce NIST Grant of $153 million to National Institute for Innovation in Manufacturing Biopharmaceuticals
NIIMBL* will work to increase the shelf life and reduce the amount of refrigeration required for messenger RNA vaccines, boost capabilities for rapid production of antigens used in testing and screening for new variants and develop novel technologies for detecting counterfeit vaccines, among other things. Continue reading
June Global Light Vehicle Selling Rate Drops to 82.4 Million
The short-term trend is clear though. The recovery of the global auto industry is by no means assured given the flawed vaccination polices of nations comprising the world’s largest auto markets. Worse, the appearance of the aggressive and deadly Delta variant corona virus variant, as well as the ongoing semi-conductor shortage considerably cloud forecasting for the upcoming months. “The semiconductor shortage is clearly having an impact on selling rates in key markets. With no immediate remedy in sight, there is a risk of the situation worsening in coming months which could further disrupt the post-pandemic recovery in demand,” said LMC. Continue reading
2021 Q2 US Sales – Light-Trucks, Crossovers, SUVs Rule
Real GDP in Q2 of 2021 is expected to grow by 8.6% on an annualized basis. The U.S. economy is predicted to return to its pre-COVID Trump Administration disaster level of ~ $19.2 trillion by the time final data is collected. For all of 2021, real GDP is expected to increase by around 7%. Initial jobless claims continue to fall each week and are headed toward pre-pandemic levels. About 14.7 million Americans continue to receive at least some type of unemployment benefits, down 54% compared to the same period in 2020 when Trump ruled. Continue reading
California – Most Car Washes with $1.6 Billion Total Sales
The mostly small businesses had 163,178 workers – up from 153,970 in 2015 – who earned a meager average annual salary of $21,911 -up from $18,703 in 2015. California, the state with the largest population and a mania around car culture and the automobile ranked first in the number of car washes and car wash employees in 2019 (2,025 and 24,851, respectively). Continue reading
Inventory Deficit Hurts June US Vehicle Sales. Again
With too much demand chasing too little supply, it’s not surprising many vehicles sold at or above MSRP and automakers have slashed incentive spending. According to J.D. Power, in mid-June 75% of vehicles sold for MSRP or above, which is up from 67% in May 2021 and way higher from the pre-COVID average of 36%. AutoInformed thinks that an affordability crisis is starting to emerge, as the Biden Administration economic boom continues. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, June US Vehicle Sales, Ken Zino, nada
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NHTSA Shouldn’t Cut National Autonomous Vehicle Regs!
AutoInformed thinks that more than US auto industry jobs are at stake here. AV technology can reduce congestion, improve safety for passengers and pedestrians, and spur unknown innovations to help the United States lead the global automotive industry. Continue reading
State, Local Governments Increase Green Spending
Some specific preservation programs include protection of soil and water resources, including controlling beach erosion, managing dams to prevent floods, educating the public about conservation and generating hydroelectric energy. While expenditures rose, a five-year comparison (from 2016 to 2020) showed a 5.7% decline in part-time employment and a 0.3% decrease in full-time employment. Continue reading
May US Light Vehicle Sales – Start of an Affordability Slump?
But there is more going on here, AutoInformed opines, given current market conditions. While automakers and the business press have been chasing the semi-conductor shortage, many claim May’s drop in sales are the effects of a supply and demand imbalance. However, the vehicle mix of highly-equipped vehicles, plentiful low-interest-rate money, and the headlong rush into electric vehicles – priced above an average working person’s ability to carry the loan – are starting to make light vehicles unaffordable to the working and middle classes. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed, autoinformed.com, Ken Zino, lmc, nada
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Manufacturing – Not Online Shopping – Leads E-Commerce
Any way you look at it, this is another strong argument for the Biden Administration infrastructure initiative that is opposed by the insurrection party that once upon a time was considered friendly to business. Want to make America great again? Well, invest in people, education and infrastructure. Continue reading
Equivalent Gas Tax or Fee on EVs to Offset Lost Revenue?
CBO said that if Congress were to levy an annual fee on EVs in an amount that is approximately proportionate with the amount paid in gasoline tax? Taking as a starting point an average driver of a light duty passenger vehicle with a gasoline engine, how much revenue could be raised during the next five years? Moreover what percent of the anticipated shortfall in the Highway Trust Fund would that be? Continue reading
April Global Sales – North America Up, Elsewhere Unsettled
Helped by President Biden’s economic stimulus in the face of Republican obstructionism, and states re-opening, the record setting rate of US Light Vehicle sales continued in April. Sales of 1.54 million units were the highest-ever volume for that month. Continue reading
Penske Automotive Posts Record Q2 Results
“Our business produced an all-time record second quarter driven by strength across all areas of our business. Strong volume and vehicle margins, improving service and parts operations, a growing Class 8 commercial truck market, record performance at Penske Transportation Solutions, and continuing cost controls all contributed to the record performance. I am particularly pleased with the continued expense discipline driving an 1,860-basis point improvement in selling, general, and administrative expense as a percent of gross profit,” said Chair and CEO Roger Penske. Continue reading →