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Category Archives: results
US New Vehicle Sales in May Forecast as Record Setting. Global Sales are Another Matter Entirely
Total new-vehicle sales for May 2021, including retail and non-retail transactions, are projected to reach 1,555,600, a 39.6% increase from May 2020 and a 1.9% decrease from May 2019. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16.7 million units, up 4.7 million units from 2020 but down 0.7 million units from 2019. The overall sales results for manufacturers will be mixed. Some are experiencing greater production problems because of semiconductor shortage. This will hurt, perhaps materially in the financial sense, various manufacturers monthly sales and profit performance for May and the months to come. Continue reading
Ford to Up Electrification Spend to $30B by 2025. Wants 40% All-Electric Global Volume By 2030
Well, one wild card is the great unknown about the future of internal combustion engines that Ford is heavily dependent on. Will the change to EVs mean big write offs or mark downs of the value of existing plants, tooling and the elimination of jobs? Another potentially negative is Ford’s dismal record of introducing and then incurring huge warranty costs of complex vehicles with electronics. It has cost stockholders billions of dollars. Fixing these huge warranty costs is potentially worth $1-$2 billion annually given recent history. Continue reading
Hyundai Motor Teases “Enhanced” XCIENT Fuel Cell Truck
In a running battle with Toyota, Hyundai claims this will be the world’s first mass-produced, heavy-duty truck powered by hydrogen. Hyundai will begin production of 2021 XCIENT Fuel Cell in August this year. Continue reading
California Mandates Zero-Emissions Ridesharing Vehicles
The Trump administration of course tried to cancel states rights and citizens’ ability to govern their communities. California led a lawsuit last year with 22 more states and other jurisdictions challenging the Trump Administration’s plan to roll back vehicle emissions standards. Continue reading
First Look – Kia EV6 Joins Electrification Parade
The 11kW on-board charger (OBC) for Level 2 recharging from 10-to-100% in – gasp – 7 hours, 10 minutes (240v AC, at 40-amps) for the larger 77.4 kWh battery versions. No wonder Last Mile Navigation provides walking directions to the driver’s actual destination if the vehicle is parked between 0.1 and 1.2 miles away. Continue reading
Honda Motor Posts FY 2021 Operating Profit of ¥660.2 Billion
Consolidated profit for the year attributable to owners of the parent company faced a year-on-year increase that amounted to 657.4 billion yen, due also to an increase in the share of profit of investments accounted for using the equity method. Continue reading
Mazda FY 2021 Financial Results – Net Income -81%
Mazda’s global sales volume from April 2020 through March 2021 decreased 9.3% year-on-year because of decreased sales in Europe and other regions. China and the US posted ~7% gains. Continue reading
Equivalent Gas Tax or Fee on EVs to Offset Lost Revenue?
CBO said that if Congress were to levy an annual fee on EVs in an amount that is approximately proportionate with the amount paid in gasoline tax? Taking as a starting point an average driver of a light duty passenger vehicle with a gasoline engine, how much revenue could be raised during the next five years? Moreover what percent of the anticipated shortfall in the Highway Trust Fund would that be? Continue reading
Volkswagen, Argo AI to Start Autonomous Driving Tests
Current conventional automaker wisdom (wishdom?) has is that light commercial vehicles are the first, logical place for using autonomous transportation of people and goods. “Our aim with the self-driving version of the ID. BUZZ is to ease commercial deployment of transport and delivery services starting in 2025,” said divisional director Christian Senger during a digital press conference. VW Mobility service provider MOIA will first launch autonomous service in Hamburg, Germany. Continue reading
Ford DIY COVID-19 Air Filtration Kit?
The study found that box fan air cleaners like this can serve as an effective low-cost alternative for mitigating airborne transmission risks in poorly ventilated spaces. In addition to the peer-reviewed article, research conducted by Well Living Lab, founded as a collaboration between Delos and Mayo Clinic, found similar air purifiers were effective at improving air quality in poorly ventilated areas. Continue reading
April Global Sales – North America Up, Elsewhere Unsettled
Helped by President Biden’s economic stimulus in the face of Republican obstructionism, and states re-opening, the record setting rate of US Light Vehicle sales continued in April. Sales of 1.54 million units were the highest-ever volume for that month. Continue reading
Toyota FY2021- Net Profit Surges 10% on $20.6B in Revenue
In particular, sales of electrified vehicles of 2,155,000 units or 112.3% of the previous fiscal year presents a serious challenge to would be competitors who are late to a game that increasingly is the only game in town or will be given the trend of current regulations. Continue reading
Nissan ‘Contributes’ -€73 million to Q1 2021 Renault Earnings
Nissan’s results, published in Japanese accounting standards, for the fourth quarter of fiscal year 2020/2021 (January 1st to March 31st, 2021), after IFRS restatements, will have a negative contribution to Renault’s first quarter 2021 net income estimated at – €73 million based on an average exchange rate of 127.7 yen/euro for the period under review. Continue reading
Nissan Reports Weak Q4, Full Year 2020 Financial Results
Free cash flow for the automotive business was a negative 391.0 billion yen. Nissan claims it has sufficient liquidity to steer through a challenging business environment. At year-end, cash and cash equivalents for the automotive business totaled 1.9 trillion yen. Automotive net cash was 636.0 billion yen. In addition, the company continues to have access to approximately 2.2 trillion yen in unused committed credit facilities. (Nissan Establishes Carbon Neutral Goal for 2050) Continue reading
Ford Recalls 2013-21 Transit Connect Vans for Rollaways
A damaged or missing bushing could prevent the shifter from moving the transmission to the intended gear position. This could allow the driver to move the gear shift lever to park, turn the vehicle off, and exit the vehicle with no instrument panel warning message or warning chime indicating the vehicle is not secured in park. This latest safety defect covers 192,080 vehicles in the U.S. and federal territories and 12,629 in Canada. Continue reading →