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Category Archives: economy
J.D. Power to Buy ALG from TrueCar
The acquisition is predicted to augment offerings from the data & analytics division of J.D. Power. It is subject to the necessary regulatory approvals. Upon approval and close, all 40 ALG employees will join J.D. Power. Continue reading
Posted in economy, marketing, news analysis
Tagged alg, auto industry commentary, autoinformed, autoinformed.com, j.d power, Ken Zino, leasing
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Federal Deficit for FY 2020 To Date – $2.8 Trillion or +$1.9 Trillion Year-over-Year
The cumulative federal budget deficit for the first 10 months of fiscal year 2020 reached $2.8 trillion, +$1.9 trillion more than the deficit recorded during the same period last year. Revenues were 1% lower and outlays were 51% higher through July 2020 than during the same 10-month period in fiscal year 2019. Continue reading
Carvana Q2 Results – Sales, Revenue Up by Double Digits
“It is still hard to say exactly how powerful the effects of all of this will be in the long run, but based on the data we see, we believe the long-term opportunity of the business is even larger than we previously thought… Continue reading
Posted in economy, financial results, results
Tagged auto industry commentary, autoinformed, autoinformed.com, Carvana, e-commerce, Ken Zino
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Auto Plant Downtime Looming as COVID-19 Thrives?
LMC notes that projected regional and export demand, along with inventory replenishment, has it forecast that US automakers will produce nearly 40,000 vehicles daily in the second half of 2020. Continue reading
Ford Motor Q2- Sales Drop -53%. Debt Grows $10B
Analysts, a mysterious species to AutoInformed were surprised and delighted. AutoInformed noted an ongoing warranty cost disaster, which is a management failure not a Covid issue. It remains troubling as Ford is introducing increasingly complex vehicles. Continue reading
Posted in economy, financial results, news analysis, results
Tagged Argo AI, auto industry commentary, autoinformed, autoinformed.com, Ford Motor Earnings, Ken Zino
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Snapshot – The Trump Economic Depression
50.1% of American adults live in households which have experienced a loss in employment income. That’s making America gruesome again… Continue reading
Posted in economy, news analysis, people
Tagged auto industry commentary, autoinformed, autoinformed.com, Ken Zino, MAGA
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Daimler Reports Ugly Q2 2020 Results as Sales Drop -34%
The Group’s total sales decreased by -34% to 541,800 passenger cars and commercial vehicles (Q2 2019: 821,700). Revenue slipped significantly by -29% to €30.2 billion (Q2 2019: €42.7 billion). EBIT was minus -€1,682 million (Q2 2019: minus -€1,558 million). Adjusted EBIT, reflecting the underlying business, was minus -€708 million (Q2 2019: plus €2,447 million). Continue reading
Posted in economy, financial results, results
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, Daimler Q2 results, Ken Zino
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Census Bureau: Millions of Americans Who Get Health Coverage from Employers Could Lose It During COVID-19
The occupations among those affected during the pandemic and therefore most at risk of losing health coverage: food preparation and serving; building and grounds cleaning and maintenance; personal care and service; and retail sales. Collectively, 39.6 million people worked in these jobs in 2018, representing 23.6% of all workers. Continue reading
Posted in economy, insurance, people
Tagged affordable care act, auto industry commentary, autoinformed, autoinformed.com, census bureau, COVID-19, Ken Zino
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MIT Research: Widespread Autonomous Driving is at Least One Decade Away. Maybe More.
The longer rollout time for Level 4 autonomy provides time for sustained investments in workforce training that can help drivers and other mobility workers transition into new careers that support mobility systems and technologies. Continue reading
Porsche Global Sales Drop -12% at 116,964 Through June
China remains the sports car manufacturer’s largest single market in terms of volume. In addition, Korea and Japan were strong markets in the region with sales of 4,242 and 3,675 units respectively, each showing double-digit growth rates over the prior year. 32,312 cars were supplied to European customers. In the US, Porsche supplied 24,186 cars between January and June – a -20% drop – under the fumbling Trump administration’s failure to address the COVID crisis. Continue reading
Posted in economy, results, sales
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, Ken Zino, porsche sales
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Census Bureau on Trump Economy
The Census Numbers are grim on the economy and its effects on voters. Continue reading
Q2 US Sales Snippets and Notes
“While the industry experienced significant declines due to the outbreak of COVID-19, full-size pickup truck sales performed exceptionally well, and overall sales showed signs of recovery, especially deliveries to retail customers,” GM claimed. Continue reading
Posted in economy, marketing, results
Tagged auto industry commentary, autoinformed.com, Ken Zino, Q2 US Sales
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GM Reports Q2 US Sales at -34% Year-over-Year
“While the industry experienced significant declines due to the outbreak of COVID-19, full-size pickup truck sales performed exceptionally well, and overall sales showed signs of recovery, especially deliveries to retail customers,” GM claimed. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, GM sales Q2, Ken Zino
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Ford, Wayne State University and ACCESS Coalition Expand Mobile COVID-19 Testing
Since launching in April, the mobile testing operation has added four Ford Transits – each fully equipped for mobile COVID-19 testing – as clinical test vehicles to conduct and support testing for symptomatic and asymptomatic individuals. Continue reading
Michigan and Cavnue to Create Autonomous Vehicle Lanes Linking Ann Arbor and Detroit
The project will draw on an advisory committee of automotive and autonomous mobility companies, including Ford, GM, Argo AI, Arrival, BMW, Honda, Toyota, TuSimple, & Waymo. Notably absent is Fiat Chrysler. (See AutoInformed.com on “Bye Bye FCA and PSA. Hello Stellantis”) Continue reading →