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Category Archives: economy
Record Number Join Rolls-Royce Apprenticeship Program
The new recruits will train with the company for between two and four years, working alongside experienced craftspeople in Assembly, Woodshop, Surface Finish, Leathershop, Parts Quality and Total Vehicle Quality Management to learn the skills and techniques employed by the luxury manufacturer. They will also study for nationally-recognized vocational qualifications at Chichester College and other local further education establishments. Continue reading
July Global Vehicles Sales Drop More Than 3M
Consumers appear to be choosing to save instead of spending amid global uncertainty. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, July Global Vehicles Sales, Ken Zino, LMC group
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FCA Q2 Earnings – Net profit at €0.8B. Trouble Ahead?
With the first financial results since an attempt to merge with France’s Renault, FCA said its adjusted earnings before interest and tax (EBIT) would top last year’s 6.7 billion euros ($7.5 billion). It also said it continues the quest for partners. Previously it promised to deliver 2020 adjusted earnings before interest and tax (EBIT), excluding the Magneti Marelli unit it sold, of €9.2-10.4 billion. Continue reading
Posted in economy, financial results
Tagged auto industry commentary, autoinformed.com, automotive blog, earnings, FCA Q2, Ken Zino
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Ten-Month US Budget Deficit Now at $867 billion. $Trillion Deficits Now Certain Under Current Economic Policies
This, gulp,is $184 billion more than the deficit recorded during the same period last year. Revenues were $92 billion higher, and outlays were $276 billion higher than in the same period in fiscal year 2018. So much for Republican lip service that claimed deficits were bad. Continue reading
Death of the Diesel: CARB Incentives for Clean Off-Road Freight and Cargo Handling Funded by Cap and Trade
The result is equipment that saves businesses on fuel costs and has zero tailpipe emissions—a winner for the pocketbook and the community. Continue reading
GM Q2 Confirms US Economic Slowdown
Trump’s escalation of the trade wars will likely make things worse not only for GM, but Ford Motor and Fiat Chrysler as well. After GM released earnings, Trump said he would dictate a 10% tariff (aka tax on U.S. consumers on consumer goods and manufacturers on intermediate goods) on $300 billion worth of Chinese imports not already covered with penalties. Continue reading
Attack of the High-Voltage Zombies – Electrify America and Stable Announce Robotic Fast-Charging for Autonomous EVs
Electrify America has provided two 150kW DC fast chargers to Stable’s charging facility for initial development work behind demonstrating the commercial viability of autonomous charging services for self-driving EVs. Thereby begins another job-destroying Green Economy effort. Continue reading
Penske Automotive Group Q2 Sales Down as Economy Slows
Penske – in AutoInformed’s view – is a leading indicator of where the auto market is going in the US and UK. The decline in new auto sales with an increase in used auto sales could indicate that the economy – here and globally – is on the verge of a recession. Continue reading
Posted in economy, financial results, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Ken Zino, Penske Automotive, q2
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US Deficit and Government Spending Grow in Q2
Fasten your seat belt it’s going to wild ride. Is that a tropical storm building in the straits of Hormuz? Continue reading
Posted in economy, labor issues, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Deficits, Ken Zino, Trump economy, US GDP
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Ford and Austin Launch Mobility Challenge Program
The goal is to help improve the quality of life for Austin residents and visitors through dynamic mobility options that complement the existing transportation system. Continue reading
Trade Wars: Commerce Finds Dumping, Countervailable Subsidies of Chinese and Thailand Propane Cylinders
During 2017, imports of steel propane cylinders from China and Thailand were valued at an estimated $89.8 million and $14.1 million, respectively. In addition, Commerce found that exporters from China received countervailable subsidies at rates from 37.91 to 142.37%. Continue reading
Trump Mexican Tariffs – Negative on Prices, Economy and Jobs
The Center for Automotive Research, where I am a vice president, estimates that a 5% tariff rate would increase the price of an average new vehicle built in the United States by at least $250. At a 25% tariff rate, U.S.-built vehicle prices would rise at least $1,100. Vehicles imported from Mexico would see sharper price increases — at least $1,100 at 5% tariff rate and at least $5,400 if the tariffs were ratcheted up to 25% by this fall. Overall, the tariffs would reduce U.S. gross domestic product by at least $7 billion to $34 billion annually and cause the loss of 82,000 to 390,000 U.S. jobs. Continue reading
BMW Group Opens Plant in San Luis Potosi, Mexico
Well starting four days from now prices will likely include a 5% tariff decreed by President Trump that increases by 5% each month until it stops – so far – at 25%. Every BMW Group vehicle today already contains at least one part from one of our 220 Mexican suppliers. Continue reading
Posted in economy, manufacturing, people
Tagged auto industry commentary, autoinformed.com, automotive blog, bmw group, Ken Zino, mexico, nafta, Trump tariffs and taxes
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Trump Tariffs on Mexico – Job Destroying Taxes on Workers
Ultimately, prices on models imported from Mexico could increase by $8500. Factoring in parts for assembly in the US, the average price of all vehicles sold in the US could rise by as much as $2,500-3,000. the substantial increase could lower sales by 500,000-1.5 million units annually. Continue reading
Brexit – UK Car Production Declines -10.6%. Exports Hit
British car manufacturing output declined -10.6% in July, with 108,239 units produced, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). This was the 14th successive month of decline as ongoing weakness in major EU and … Continue reading →