Category Archives: economy

GM to Provide Financial Support to Fired Union Workers

GM’s November announcement impacts 2,600 hourly workers and approximately 340 salaried or contract workers at the Oshawa Assembly Plant once a crown jewel in the GM collection for its productivity, flexibility and quality. GM Canada will continue to discuss its announcements regarding Oshawa Assembly with Unifor, the union it has a no close contract with in force until the end of 2019. Continue reading

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No Deal Brexit to Cost UK Auto Sector £9 Billion Per Year

It’s not only angry Trump voters who are self-destructive, the UK under the Brexit fiasco is about to lose £9 Billion a year due to a conservative Republican-like temper tantrum that will materially hurt middle class workers, as well as society as a whole. Continue reading

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NADA 2019 Light Vehicle Sales Projected at 16.8 Million

Based on a strong November, new-vehicle sales are expected to reach 17 million units in 2018, which would mark the fourth straight year of U.S. auto sales above 17 million units. (see AutoInformed: Auto Loans – Payments Higher, Subprime Lending Lower. The Federal Reserve Board is likely to raise rates in December 2018. More rate increases are likely during the early half of 2019 and then rates are expected to hold.) Continue reading

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Global Light Vehicle Sales Fall Again in November

The Chinese LV market continues to slow down, “a major source of concern given the importance of this market to global sales.” Other regions are also struggling, with YoY losses in Europe and North America, though selling rates remain robust in North America. Continue reading

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Making the Budget Deficit Great Again. November at $203 billion. Interest for Debt up $5 Billion

Not that it matters according to traditional Republican double-speak, such gigantic deficits are only a problem if they occur when the Democrats are in power. When Republicans cut taxes for the wealthiest and run up huge deficits it’s – don’t laugh – good for the economy. Worse, the federal budget deficit was $303 billion for the first two months of fiscal year 2019, says CBO. Continue reading

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Ford First Automaker to Outline UN Human Rights Issues

Ford claims to be the first automaker to complete this assessment, thought to be key in identifying the issues that are at risk of the most severe negative impact through activities or business relationships. Continue reading

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BMW Group Threatens Trump on US Jobs

Buried at the bottom of the release was the following threat clearly aimed in AutoInformed’s view at President “tariff” Trump and his owning trade bluster and politically motivated policies that are threatening US jobs. Continue reading

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FCA and Trade Unions Meet in Turin on Employment

The fate of other FCA plants is murkier given the FCA stated goal of “strong synergies achieved through common application of electrified powertrains and platform sharing” as presented 2018-2022 Business Plan at FCA’s Capital Markets Day last June in Balocco. They are currently operating under capacity without full employment. Continue reading

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GM Canada to Train, Help Find Jobs for Fired Workers

GM Canada will also join with Durham Region educators and governments to train and transition Oshawa Assembly employees to new careers in Durham Region. “These efforts will help address the significant open requirements for talented workers from other regional employers,” GM said. Continue reading

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Unifor Blasts GM Canada Closings

AutoInformed notes that since its announcement this week, GM now says that the “unallocated” plants in the U.S. will not be closed but rather “idled,” subject to negotiations with the UAW next fall. Unifor says that is a first step in Canada as well. Continue reading

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Johnson Controls and Toshiba Link on Lithium-Ion Batteries

Dual-battery vehicles are projected to be the fastest-growing form of electrification and by 2025 will account for approximately 20% of new vehicles built globally, according to IHS, Markit. Continue reading

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Automobility LA – Fast EV Charging Network Plugged and Supported by Volkswagen Subsidiary Electrify America

However, industry observers note that there isn’t a clear focus in the U.S. to create an open electric vehicle charging network. In fact, the grid is to varying degrees populated by self-interested players in for a buck – as in charges via fees – and not necessarily for creating or sustaining potential consumer demands and expectations for convenience, reliability and speed. It’s true that these might ultimately become benefits, but one need only recall Enron* and its history with utility companies and how that worked out for consumers. Continue reading

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General Motors Revises 2015 Strategy to Slash Costs and Streamline Engineering as Market and Competition Toughen

General Motors (NYSE: GM) said this morning that it will accelerate its business plan, building on the strategy it laid out in 2015 that has resulted in lack-luster returns for shareholders. GM is acknowledging what most automakers hold private: the marketplace is moving faster than automakers. Continue reading

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European Market Sinks. One-Third of Model Versions Not legal

Alternative-fueled vehicles continued to gain traction with their market share increasing by 2 percentage points to 7.5%, while demand for pure electric cars grew immensely, with volume up by 70%. Continue reading

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November Auto Sales Forecast Down First Time Since 2009

Although sales remain healthy , factors such as increasing market saturation, rising transaction prices and elevated interest rates continue to create problems for all automakers. This probably will continue into 2019, perhaps for all of 2019 AutoInformed opines as the illusion of the Trump tax cuts fades with the reality of declining middle-class wealth emerges. Continue reading

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