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Category Archives: economy
Ford Fusion Hybrid Sedan Said to Top EPA Fuel Economy Ratings
Many brands now have a claim of some sort to use in fuel economy marketing, which likely means all of them will advertise fuel efficiency this fall, making the issue so confusing that it might no longer be effective for selling cars. Buyers will assume that fuel economy is a given in the entire class of vehicles and forgo the nuances. A similar situation has occurred in the marketing of auto safety during the past decade, with it increasingly difficult for companies to draw a competitive advantage in a continually improving field of what is now demonstrably the safest fleet of new vehicles ever sold in the U.S. Continue reading
CAW Working as 24-hour Contract Talks Shift to Chrysler, GM
Thus far, what is known of the Ford contract represents mixed results for the union, which was fighting a defensive action since talks opened in August. In spite of a push to reduce wage costs by all the automakers, the union retained its base pay and got cost of living bonuses. However, the controversial two-tier wage system that union members decry as divisive remains in place for ten years. Sharply lower wages for new hires at 60% of full pay would only allow them to reach parity after they are on the job for ten years. This could pose ratification problems. A similar deal remains controversial at the UAW in the U.S. among its members, which was successful last year in getting a two-tier contract renewed in spite of member opposition. Continue reading
Posted in auto news, economy, labor issues, news, news analysis, transportation
Tagged auto informed, autoinformed.com, automotive news, caw, chrysler, Ford, GM, ken Lewenza, Ken Zino, labor contracts
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Politics or Finally a Policy? Obama Administration Protests at WTO over Chinese Auto and Parts Subsidies. China Instantly Fights Back
The Obama Administration filed a complaint against the Communist Chinese government at the World Trade Organization today. Continue reading
Posted in auto news, economy, news, news analysis, people, transportation
Tagged auto informed, autoinformed.com, automotive news, china, Ken Zino, trade subsidies, trade wars, uaw, usw, wto
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SAIC-GM-Wuling JV in China Sells 1,000,000 Vehicles
SAIC-GM-Wuling has sold 1,000,000 vehicles in China for the fourth consecutive year. It is the earliest the General Motors China joint venture – required by the communist government as a successful job creating policy – has reached the milestone. In 2011, SGMW sold its 1 millionth vehicle in October. Continue reading
Posted in auto news, economy, news analysis, results, sales
Tagged auto informed, autoinformed.com, automotive news, chevrolet move, ford china, gm china, Ken Zino, saic, saic-gm-wuling, wuling, wuling rong guang
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More U.S. Companies Working on Sustainability and CO2 Reduction
The Carbon Disclosure Project released today an analysis showing that S&P 500 companies are making progress towards reducing carbon emission when compared to the so-called Global 500. CDP claims its results show a “tipping point” has now been reached in American C-suites and boardrooms to integrate a sustainability agenda into overall business strategy. This apparent acknowledgement of the growing spending and voting power of the green movement is occurring without comprehensive regulatory requirements in the U.S. to reduce CO2, and despite the goal – sometimes actually stated this election season – of Republican party candidates to abolish the Environmental Protection Agency and ignore climate change and possible remedial actions. Continue reading
AIG Bailout of $182 Billion Paid Back. Taxpayers make at least $12B
The U.S. Department of the Treasury announced it is selling 553,846,153 shares of its American International Group (AIG) common stock at $32.50 per in a public offering. The proceeds to Treasury from the common stock sales are expected to be ~$18.0 billion. This means that the transaction locks in at least a $12.4 billion positive return on the $182 billion in Treasury and Federal Reserve loans and commitments to AIG. The bailout loan will be fully paid off in what remains an unpopular (but extremely effective) example of government intervention in a failed marketplace. Ideologues still refuse to admit that the TARP and associated government actions saved the U.S. and perhaps the global economy. It certainly – without question – saved the U.S. auto industry and this includes companies that received no loans. Continue reading
Posted in economy, fools 'n frauds, news, news analysis, people
Tagged aig, auto informed, autoinformed.com, automotive news, bailouts, Ken Zino, treasury
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Ford outlines its latest European Turnaround Plan to Dealers, Workers
At a meeting with 2,500 dealers and employees in Amsterdam last night, senior Ford Motor executives outlined the latest European turnaround plan for its loss-making Western European operations. Continue reading
U.S. Airline Employment Rises Slightly in June
U.S. scheduled passenger airlines employed 1.4% more workers in June 2012 than they did in June 2011 but still remain below pre-Great Recession levels, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today. Continue reading
Posted in aviation, economy, news, results, transportation
Tagged airline employment, american airlines, auto informed, autoinformed.com, automotive news, bts, delta airlines, dot, great recession, Ken Zino
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NAFTA Trade Up in June to $83 Billion. Vehicles Post Big Gains
Trade between the United States and its North American Free Trade Agreement or NAFTA partners, Canada and Mexico, increased 6.6% in June 2012 compared to the year earlier period as measured by surface transportation. This means that $82.6 billion worth of goods traversed the NAFTA zone. Adjusted for inflation and exchange rates, the June 2012 total was $61.0 billion in 2004 dollars, up 11% from June 2011 according to the Bureau of Transportation Statistics of the U.S. Department of Transportation. Continue reading
Posted in auto news, economy, news, transportation
Tagged auto informed, autoinformed.com, automotive news, bts, Ken Zino, nafta, trade, U.S.-Canada trade, U.S.-Mexico trade
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U.S. August Auto Sales Tepid at a Projected 12 Million Units
LMC Automotive has revised the outlook for total light-vehicle sales in the United States downward to 14.3 million units from 14.5 million units, with retail auto sales at 11.4 million units, down from 11.5 million units. Weaker U.S. economic growth and concerns with the deepening Eurozone crisis are cited as factors for slower growth during the second half of the year. The U.S. auto industry is still projected at a 15-million-unit level in 2013, but the outlook has been cut from 15.2 million units, as the risks in could carry over into next year. Continue reading
Posted in auto news, economy, results, sales
Tagged august sales, auto informed, autoinformed.com, automotive news, Ken Zino, lmc automotive
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Auto Loan Delinquency Rate Declines by 35%
Mirroring a trend in many consumer lending categories, auto loan delinquency rates have declined significantly in July year-over-year. Equifax’s latest monthly National Consumer Credit Trends Report released today says that auto loan 60-day plus delinquency rates declined 35% in dollars.CNW Research also has good news for automakers and their stockholders. Its latest Loan-to-Value Ratio data shows a rise, especially for sub-prime borrowers. Banks are once again chasing auto loans because of low repossession rates and a minimum of late-payers. In the heyday of sub-prime lending, those with the lowest acceptable FICO score (credit rating in industry jargon) had LV ratios in the near-100% range. Continue reading
Marine Corps to Test Finnish Personnel Carrier as U.S. Long Term Unemployment Continues at Post Depression Highs?
It was not immediately clear if Lockheed really intends to import the Finnish-built personnel carrier for the 600 units the Marine Corps eventually plans to buy at ~$5 million each while long-term U.S. unemployment continues at post Great Depression highs. There are competing U.S.- and Canadian-built carriers available from General Dynamics, BAE Systems, and Science Applications International Corporation. Continue reading
Posted in economy, news, news analysis, transportation
Tagged aav, auto informed, autoinformed.com, automotive news, defense spending, havoc, Ken Zino, off shoring, patria
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GM Bids on Ally’s International Auto Lending Business
The GM bid carries some potential risks for U.S. taxpayers, which still own a large part of the company. If GM buys the international Ally businesses, it could expand lending overseas, but not without potentially hurting liquidity. GM Financial’s consolidated assets could more than double, and it could incur substantial amounts of indebtedness, including secured debt. GM Financial’s ratio of adjusted assets to adjusted equity could more than double as well. It all depends on how much GM acquires, and then its ability to successfully run the new operations while integrating them into the larger company. Continue reading
Posted in auto news, economy, financial results, news analysis
Tagged ally, auto informed, autoinformed.com, automotive news, gm financial, Ken Zino
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Freight Shipments Down in June as U.S. Economy Languishes
Commercial freight fell 0.1% in June from May, following no change in the index from April to May, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics’ (BTS) Freight Transportation Services Index (TSI) released today. The June 2012 index level (109.5) was 16.1% above the April 2009 low during the Great Recession, which might be poised for a sequel. Continue reading
Posted in auto news, economy, news, transportation
Tagged auto informed, autoinformed.com, automotive news, bts, freight shipments, gdp, Ken Zino
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Ford Motor Q2 Profit Plummets $1.4 Billion as Europe, South American and Asia Continue to Hurt Earnings and Shareholders
Ford Motor Company [NYSE: F] posted its 12th consecutive quarterly pre-tax operating profit this week based almost entirely on North American results. Weak to frankly disastrous performances in Ford’s global operations saw Q2 income drop to $1 billion, or 26 cents per share, a decrease of $1.4 billion from Q2 2011. Continue reading
