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Category Archives: economy
June Auto Market – Consumer Sentiment is Trump Chaotic
“Cox Automotive leading g indicators are mixed … in mid-June with a decreasing week-over -week trend related to service appointments, which were down 4% against 2024 in the week ending June 14 as geopolitical issues drive down consumer sentiment. We risk seeing momentum further decline in retail vehicle sales with scorching temperatures at the start of summer. Consumers may stay inside and away from dealerships with high prices and high uncertainty about what comes next in Iran and with uncertainty about when gas prices, interest rates and – of course – tariffs will come back down,” said Jonathan Smoke, Chief Economist. Continue reading
Bike Lane Delivery – Honda Shows Fastport eQuad Prototype
Honda (7267.T and NYSE: HMC) today announced the establishment of Fastport, a new business dedicated to transforming the last-mile delivery industry with what it calls “innovative micromobility solutions.” Fastport uses the Honda Mobile Power Pack (MPP) swappable batteries and is a software-defined vehicle (SDV) project. The Fastport eQuad in theory will help address urban congestion and rising consumer demand for faster, more frequent deliveries.
“The Fastport team has worked tirelessly to create the Fastport eQuad, a zero-emission alternative to delivery vans that solves the challenge of last mile urban logistics by meeting the needs of urban residents expecting on-demand deliveries of packages, groceries and other items,” said Jose Wyszogrod, general manager and founding member of Fastport. “Drawing from the deep knowledge of Honda design and engineering talent in the U.S., the Fastport eQuad is a testament to the commitment of Honda to advancing a more sustainable future through innovative mobility solutions.” Continue reading
Posted in economy, electric vehicles, environment, milestones, mobility company, news, news analysis, shows and events, software defined vehicles, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, grocery deliveries, Honda Fastport eQuad Goods Delivery Prototype, Jose Wyszogrod, Ken Zino, parcel and small package deliveries, urban logistics, X @KenAutoinformed
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Fuel Prices Dropping as Summer Travel Begins?
With the summer driving season proceeding there are counter historical-trend results in fuel prices. Gasoline prices normally peak this time of the year, however drivers are getting a break, or is that brake? Moreover, does the ongoing global economic chaos caused by the Trump Administration tariff decrees signal something much darker – recessions and perhaps impending global depressions? Continue reading
Trump Tariff Chaos Continues Despite Court Ruling
The U.S. Court of International Trade ruling Wednesday against Trump Administration tariffs is just a bump in the road. Although it was widely and loudly hailed as a defeat for President Trump and his whimsical, constantly changing tariff executive orders it is actually just a continuation of the economically damaging Administration policies, irrelevant to the misleading Wall Street TACO moniker – Trump Always Chickens Outs.
By late Thursday, the Administration had swiftly obtained an emergency stay. Tariffs on steel aluminum, automobiles and auto parts and remain in place.
“The CIT’s ruling affects the tariffs that Trump imposed under the International Emergency Economic Powers Act (IEEPA), which gives the president some power to regulate commerce after declaring a national emergency. It does not affect other, more specific tariffs he has imposed on commodities such as steel,” said Inu Manak, a fellow for trade policy at the Council on Foreign Relations. Continue reading
Posted in AutoInformed Editorial, economy, fools 'n frauds, litigation, news, news analysis, Trump Truth Tests
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, IEEPA tariffs, International Emergency Economic Powers Act, Inu Manak, Ken Zino, The Council on Foreign Relations, U.S. Court of International Trade, Wall Street TACO moniker, X @KenAutoinformed
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Trump Tariff Chaos – May Auto Sales Crash
Per Cox Automotive’s vAuto Live Market View, strong vehicle sales in March and April led to tighter inventory levels. New-vehicle inventory at the start of May totaled 2.49 million units on U.S. dealer lots, down 7.4% from the start of April and lower by 10.5% from a year ago. Days’ supply was 66 at the beginning of May, down six days from the previous measure at the start of April.
“Available inventory on dealer lots has declined significantly over recent weeks,” said Chesbrough. “Finding the right vehicle will be more challenging for shoppers. Additionally, prices will be high as existing inventory becomes less available and more valuable due to tariffs on incoming replacement supply. As more tariffed products replace existing inventory over the summer, prices are expected to be pushed higher, leading to slower sales in the coming months.”
The Q2 Cox Automotive Dealer Sentiment Index out last week said that dealers are increasingly wary of future market conditions. While many acknowledged the short-term lift in sales from tariff-driven urgency, the broader sentiment reflected anxiety about a cooling market and the long-term impact of trade policies. As expected, newly implemented tariffs by the Trump administration were a dominant theme in dealer responses, reinforcing the forecast of a cooling market in the months ahead. Continue reading
House Republicans Flunk Math on Energy Incentives
On 22 May the U.S. House of Representatives passed its budget reconciliation bill. The bill. among other economic disasters for U.S. inhabitants and businesses includes proposals to alter existing federal energy tax credits – from fast elimination of several credits to new phase-down schedules, and adding new requirements, including provisions related to foreign entities of concern. Are any of our representatives paying attention to Chinese state-owned and directed capitalism? Take a look at the Chinese lead in new energy vehicles, the adoption of solar energy, the making of 21st century industrial goods and above all the funding of a University research in advanced transportation products, manufacturing technologies and medical drugs. AutoInformed notes the Trump’s big, beautiful bill, obsession with job destroying and inflation creating tariffs, among other things adds up to negative numbers for our economy. Republicans flunk math. Continue reading
CARB – U.S. Senate Dumping Clean Air Act Waivers Illegal
The California Air Resources Board Chair Liane Randolph today reacted to a vote by the U.S. Senate purporting to disapprove California’s Clean Air Act waivers for Advanced Clean Cars II, Advanced Clean Trucks and Heavy-Duty Engine and Vehicle Omnibus using the Congressional Review Act (CRA).
“California profoundly disagrees with today’s unconstitutional, illegal and foolish vote attempting to undermine critical clean air protections. It’s an assault on states’ rights the federal administration claims to support that puts national air quality standards out of reach and will have devastating effects for the 150 million Americans who breathe unhealthy air every day,” said CARB Chair Liane Randolph. Continue reading
Posted in auto news, economy, environment, fools 'n frauds, fuel economy or emissions, global warming, litigation, news analysis, people, public health, transportation, Trump Truth Tests
Tagged Advanced Clean Cars II, Advanced Clean Trucks, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, carb, CARB Chair Liane Randolph, Congressional Review Act, Heavy-Duty Engine and Vehicle Omnibus, Ken Zino, X @KenAutoinformed
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AAA – Record 45.1 Million to Travel for Memorial Day
AAA forecasts that in the U.S. 45.1 million people will travel at least 50 miles from home over the Memorial Day holiday period* from Thursday 22 May to Monday 26 May. This year’s domestic travel forecast is an increase of 1.4 million travelers compared to last year and sets a new Memorial Day weekend record. The previous record was set back in 2005 with 44 million people. Despite concerns over rising prices, many Americans say they’re taking advantage of the long holiday weekend to spend time with loved ones, even if the trips are closer to home, according to AAA.
“Memorial Day weekend getaways don’t have to be extravagant and costly,” said Stacey Barber, Vice President of AAA Travel. “While some travelers embark on dream vacations and fly hundreds of miles across the country, many families just pack up the car and drive to the beach or take a road trip to visit friends. Long holiday weekends are ideal for travel because many people have an extra day off work and students are off from school.” Continue reading
UAW Has Tentative Agreement with General Dynamics
The UAW said today that it has reached a tentative agreement with General Dynamics – Electric Boat ahead of the UAW Marine Drafters strike deadline of midnight Sunday 18 May. “This agreement comes after an unprecedented mobilization from the union’s membership: 2200 members, or more than 90% of the bargaining unit, signed up to report for picket duty if a strike became necessary,” the UAW said. The five-year agreement, covering more than 2400 workers in Groton who design nuclear submarines, obtains a 30% wage increase over the life of the agreement and an improved wage progression. In total, MDA-UAW members will see a cumulative $115,000 increase in total compensation during the agreement. Continue reading
Posted in economy, labor issues, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bill Louis, Brandon Mancilla, General Dynamics Electric Boat, Ken Zino, lockheed martin, MDA-UAW, UAW Marine Drafters, UAW Region 9A, X @KenAutoinformed
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Demand for Electric Vehicles in U.S. Stable
Consumer demand for electric vehicles (EVs) has remained stable, according to the J.D. Power 2025 U.S. Electric Vehicle Consideration (EVC) Study,SM released today.* The study shows that 24% of vehicle shoppers say they are “very likely” to consider purchasing an EV and 35% say they are “somewhat likely,” both of which remain unchanged from a year ago. Continue reading
Nissan Motor Posts ¥670.9 Billion Net Loss
Nissan Motor Company (7201T and NSANY ADR)* today announced financial results for the full year and the fourth quarter of the Japanese fiscal year 2024, ending 31 March 2025. During FY2024, global sales remained at 3.346 million units impacted by “intensified sales competition.” Nissan’s consolidated net revenue was ¥12.6 trillion yen, resulting in an operating profit of ¥69.8 billion with a razor thin operating margin of 0.6%. Net loss was, gasp, ¥670.9 billion (~$4.5 billion), which is improved from its previous forecast of a net loss of ¥700 – ¥750 billion for fiscal year 2024. Free cash flow and operating profit in the automotive business were both negative, automotive net cash was ¥1.498 trillion. (Based on average exchange rates of 153 JPY /USD and 164 JPY /EUR for FY2024.)
“In the face of challenging FY24 performance and rising variable costs, compounded by an uncertain environment, we must prioritize self-improvement with greater urgency and speed, aiming for profitability that relies less on volume. As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery. Re:Nissan is an action-based recovery plan clearly outlines what we need to do now. All employees are committed to working together as a team to implement this plan, with the goal of returning to profitability by fiscal year 2026,” said Ivan Espinosa, Nissan president and CEO. Continue reading
Posted in auto news, economy, electric vehicles, financial results, manufacturing, mobility company, news analysis, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ivan Espinosa Nissan president and CEO, Ken Zino, Nissan Motor financial results FY 2024, Re:Nissan turnaround plan, Tokyo Stock Exchange, X @KenAutoinformed
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Goodyear Completes Sale of Dunlop Brand
The Goodyear Tire & Rubber Company* (NASDAQ: GT) said today that it has completed the previously announced sale of the Company’s rights to the Dunlop brand in Europe, North America and Oceania for consumer, commercial and other specialty tires, together with certain associated intellectual property and inventory, to Sumitomo Rubber Industries Ltd (TYO: 5110). Gross cash proceeds at closing totaled $735 million, comprised of $526 million for the Dunlop brand, $105 million for a transition support fee and $104 million for inventory. Goodyear said it intends to use the transaction proceeds to reduce leverage in connection with the so-called Goodyear Forward transformation plan. Continue reading
Posted in aftermarket, auto news, economy, manufacturing, milestones, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Cleary Gottlieb Steen & Hamilton, Dunlop brand, Goldman Sachs & Company, Goodyear Tire & Rubber Q1 2025 financial results, Ken Zino, Mark Stewart, Sumitomo Rubber Industries, X @KenAutoinformed
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CARB – Cap and Trade Funds ~$33 Billion of Climate Fixes
Nearly $33 billion has been raised to fund so-called climate solutions in communities across the state with money from the state’s Cap-and-Trade Program, according to a new report published by the California Air Resources Board (CARB)* today. The annual report provides detailed information about California Climate Investments, which tracks funds generated by cap and trade auction proceeds and allocated to 117 programs by the State Legislature.
“California is proving that cutting pollution creates jobs and boosts communities. By holding polluters accountable, we’re sending billions of dollars back to communities and back to people’s wallets through credits on utility bills,” said Governor Gavin Newsom. “And we’ve got the receipts: healthier and cleaner communities and thousands of good paying jobs.” Continue reading
Posted in economy, environment, global warming, news, news analysis, public health, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, California Air Resources Board, Cap-and-Trade Program, carb, Governor Gavin Newsom, Ken Zino, Liane Randolph, X @KenAutoinformed
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BMW Group Q1 2025 Earnings Drop 25%
“The more challenging the environment, the more crucial it is to have compelling products, a consistent strategy and a high degree of flexibility. Our technology-open approach remains a key success factor: with our young, highly attractive models and our broad range of drives, we are able to meet the various needs of customers worldwide. This enables us to achieve robust results and stay on course to meet our ambitious full-year targets,” said Oliver Zipse, Chairman of the Board of Management of BMW AG. Continue reading
SMMT Lauds Launch of UK Industrial Strategy
The UK automotive industry today has vowed to build on the foundations laid by government’s Industrial Strategy published yesterday with a 10-point plan to drive the UK back into the top 15 of global vehicle manufacturing locations by 2030 and deliver a £50 billion economic boost over the next decade. {See footnote 1] This is from the home of the Brexit disaster of British political thinking.
Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders (SMMT) speaking at the industry’s annual Summit in London today said “Government’s long-term Industrial Strategy, including the Drive35 £2.5 billion auto capital and R&D fund, recognizes automotive as a pillar of advanced manufacturing, integral to the world leading innovation that creates the high value jobs, wealth and economic growth that are vital to our country’s future. Now we must make the most of that position and put in place the right conditions for growth.” Continue reading →