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Category Archives: results
Super Car First Look – Honda NSX Type S
Honda Motor today released early information on a new limited production NSX Type S, which is scheduled to be officially introduced before the end of August 2021. The new NSX Type S will be the final model of the second-generation NSX. … Continue reading
Bentley Cautiously Posts Record 2021 Half-Year
However, “these positive results are against a backdrop of continued uncertainty which could negatively impact the second half of the year. The increasing COVID-19 numbers in many parts of the world could threaten future production in the worst-case or see further retail restrictions posing both a sales and financial risk to forecasts,” Bentley said. Continue reading
Renault Group Boasts €2B Fixed-Cost Cuts Ahead of Plan
“These results are the fruits of our strategic Renaulution plan, focused on profitability. They mark only the first step in our turnaround, which should accelerate with the arrival of the new vehicles in preparation. I would like to thank all our employees for their commitment in achieving these results,” declared Luca de Meo, CEO of Renault Group. To AutoInformed, it seems premature to have a French victory toast at this point in the ongoing covid and automotive wars. C’est fous. Continue reading
Tesla Model 3 – Europe’s Second Best-Selling Car in June 21. Low Emission Cars at Record Share. Makers Lagging Buyers
Notably, low emissions cars (BEV and PHEV) continued to perform well, recording a new record total market share of 18.5% – up from 8.2% in June 2020. Registrations of BEVs totaled 126,000 units during the month, ahead of the 104,000 registered PHEV units. Yes that’s right pure EVs out sold hybrids, which were at the center automakers plans to fight emissions and global warming. Fiat, Tesla, Skoda, Volkswagen and Ford gained the largest market share in the BEV market while Cupra, Jeep, Volkswagen, Renault and Seat posted the highest market share gains in the PHEV market. Continue reading
Posted in environment, global warming, news analysis, sales
Tagged auto industry commentary, autoinformed.com, EU June 2021 sales, EVs, JATO Dynamics, Ken Zino
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Ford Motor Posts Q2 Revenue $26.8B, Net Income $56M, Earnings $1.1B as Market Share Drops
During April with the semiconductor situation worsening, Ford said it expected to lose about 50% of its planned second-quarter production, which would have resulted in a loss in the period. Ford did better than that using the strong demand from the Biden Administration economic boom to improve revenue and profits through lower incentives and a more expensive and profitable mix of vehicles. These generated company-wide adjusted earnings of $1.1 billion before interest and taxes. Continue reading
Penske Automotive Posts Record Q2 Results
“Our business produced an all-time record second quarter driven by strength across all areas of our business. Strong volume and vehicle margins, improving service and parts operations, a growing Class 8 commercial truck market, record performance at Penske Transportation Solutions, and continuing cost controls all contributed to the record performance. I am particularly pleased with the continued expense discipline driving an 1,860-basis point improvement in selling, general, and administrative expense as a percent of gross profit,” said Chair and CEO Roger Penske. Continue reading
Ford Ion Park in Southeastern MI is New Global Battery Center
Ion Park will explore both lithium ion and solid-state battery cells and arrays. Ford will refurbish an existing 270,000 sq.-ft. facility. It will have a cross-functional team of up to 200 engineers, researchers, purchasing and finance staff. Ford Ion Park is critical in wisely spending the stockholder’s $30 billion investment in electrification by 2025. Politically it is part of a renewed commitment to making Michigan a centerpiece of its focus on electric vehicles. Continue reading
Stellantis New Credit Line €12B Tops PSA and FCA Combined
This new RCF, available for use in general corporate purposes, is structured in two tranches: €6.0 billion, with a 3-year tenor, and €6.0 billion, with a 5-year tenor, each tranche benefiting from two further extension options, each of 1-year. Continue reading
NHTSA – Urgent Fire Recall Again on 2017-2019 Chevrolet Bolts
GM has issued a new recall affecting the 50,932 Model Year 2017-2019 Chevrolet Bolt vehicles covered under the original recall announced in November 2020 and revised in May 2021. NHTSA is aware of one fire with the interim remedy and two fires with the final remedy. Due to the risk of fire, vehicle owners should continue to park these vehicles outside, away from structures, and not charge them overnight. Continue reading
Commerce to Make $3B Economic Development Investment
“President Biden’s American Rescue Plan delivered direct relief to the American people and was the first step to energizing the American economy following the devastating impacts of the coronavirus pandemic,” said Secretary Raimondo. “Now, its medium-term investments will allow communities around the country not only rebuild but re-imagine their economy for the future.” First announced on April 14, the plan has faced Republican opposition obstructionism because it apparently helps the working class and is that their usual program of ultra-rich welfare. Continue reading
Argo AI, Ford to Launch Self-Driving Vehicles on Lyft Network
Argo AI and Ford will deploy Ford self-driving cars, with safety drivers, on the Lyft network, as part of a network access agreement, with passenger rides beginning in Miami later this year and in Austin starting in 2022. As vehicles are positioned, Lyft users within the defined service areas will be able to select a Ford self-driving vehicle to hail a ride. “This initial deployment phase will lay the groundwork for scaling operations, as the parties are now working to finalize agreements aiming to deploy at least 1,000 autonomous vehicles on the Lyft network, across multiple markets over the next five years,” the companies claimed. Continue reading
Daimler Q2 Results – Group Net Profit of €3,704 million
However, Daimler assumes that the current worldwide supply shortage of semiconductor components will affect Mercedes-Benz Cars unit sales also in the third quarter. Mercedes-Benz Cars unit sales “could be in the magnitude of the second quarter or below.” Full year unit sales are expected to be at prior year level (previously: significantly above). Continue reading
Recalls – Roof Rail Air Bag Shrapnel on 410,019 GM Pickups
A separated inflator end cap or inflator rupture can allow compressed gas to escape, resulting in the end cap or other components being propelled into the vehicle, increasing the risk of injury or crash from what is in effect shrapnel. Continue reading
Ongoing COVID Related Problems Just Discovered. Michigan Experiencing Increase in Legionnaires’ Disease?
As many buildings are currently reopening after extended COVID-19 closures or periods of limited use, this may also create an environment for potential amplification and transmission of Legionella bacteria. Between 1 July 1 and 14 July 107 cases of Legionnaires’ disease have been reported in 25 counties. Continue reading
GM Posts Record Q2 Earnings of $4.1B Amid Delta Doubts
With GM’s evolving view on Automobility it is placing itself squarely in the middle of a global battle royal among other automotive giants such as Toyota, Stellantis and Volkswagen Group, by developing a full EV portfolio that doesn’t depend on “partial solutions” like hybrids and “electrified” ICE vehicles. Continue reading →