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Category Archives: results
Nissan Shareholders Elect 7 Independent Directors Out of 11
The new board of directors comprises 11 individuals, seven of whom are independent outside directors. Power appears to be evenly split between Renault and Nissan despite Nissan’s and the Japanese government’s interest in asserting more control. Renault, which owns 43% of Nissan and the French government, which owns 15% of Renault, are pushing for a merger. Paper organization charts are not always how business is conducted in mega, joint venture corporations. So, it will take some time to see how this works out as the Ghosn matter proceeds through the Japanese “legal” system. Continue reading
UAW Post Chattanooga Loss Calls for Labor Law Reviews
In the end, the difference between a unionized workplace and one without real worker representation was narrow: 833 employees voted against union representation and 776 in favor, a difference of merely 29 votes. Continue reading
EU Passenger Car Sales off -2.1% Through May 2019
However, the five major Western European markets posted mixed results: with demand in Spain (-7.3%), the United Kingdom (-4.6%) and Italy (-1.2%) slowing down but growing in Germany (+9.1%) and France (+1.2%). Continue reading
Posted in results, sales
Tagged acea, auto industry commentary, autoinformed.com, automotive blog, EU car sales May 2019, Ken Zino
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LMP1 Repeat – Toyota Second Straight Win at Le Mans
In the last year before Le Mans class rules change yet again the Toyota curse appeared when the #7 blew what seemed a certain victory in front of an estimated 252,500 spectators. Continue reading
Posted in racing, results
Tagged auto industry commentary, autoinformed.com, automotive blog, endurance racing, FIA WEC, Ken Zino, le mans
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Aston Martin On GTE Pole, Ford 2nd, Corvette 3rd at Le Mans
Aston Martin Racing is on the GTE Pro pole position for this weekend’s 87th running of the 24 Hours of Le Mans. It’s 60 years since a famous 1959 win led by team director John Wyer with a DBR1 driven by Roy Salvadori, and a man who would kick Ferrari’s “ass” many more times, notably with Ford GTs a few years later – Carroll Shelby, again working with Wyer. Continue reading
Posted in racing, results
Tagged AstonMartin, auto industry commentary, autoinformed.com, automotive blog, ferrari, Ken Zino, le mans, porsche, toyota
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Ford House Previews Spring ‘Driven by Design’ Exhibit
Three rare vehicles never shown together will be the centerpiece: a breathtaking1939 Lincoln Continental prototype, the 1932 Ford Model 18 Speedster and 1934 Ford Model 40 Special Speedster. These three vehicles tell the story of Edsel Ford’s role in bringing design to Ford Motor Company. Continue reading
Trump Backs Down on Mexican Import Taxes. Declares Victory by Solving His Self-Created Crisis for American Workers
Automakers, farmers, the equity markets and his normally sycophantic Republican party were all protesting the reckless move. Thus adding to the need to reverse the very course that Trump had set. Continue reading
Renault Returns the Nissan Abstinence Vote Favor
This after the French government asked for more time to study the FCA Renault merger when it learned that Nissan intended to abstain from a vote that would allow it to go forward. Continue reading
Josef Newgarden in Penske Chevrolet Wins Texas 600
The second caution occurred when James Hinchcliffe slid wide into the Turn 2 wall on Lap 219. The final exasperating yellow came when the cars of Scott Dixon and rookie Colton Herta touched while battling for third place in Turn 3 on Lap 229, sending both into the wall. It was clearly Dixon’s fault. Race Control did nothing. Continue reading
Two Petroleum Suppliers to Pay $1M For Clean Air Violations
The fuel violation was discovered during a routine sampling audit of an import marine vessel at the Port of Los Angeles. California Air Resources Board inspectors determined approximately 11 million gallons of motor fuel imported by George E. Warren Corp. had exceeded the threshold concentration of olefins allowed under the California Reformulated Gasoline Regulation. Continue reading
Hyundai Shows Performance Control for Commercial EVs
The ability to calculate the gross weight of a moving vehicle in theory means that an electric vehicle’s torque output can be optimized to maximize estimated remaining range. This reduces potential wheel spin and reduced traction when a vehicle is carrying less payload, increasing commercial efficiency. The new technology also allows for changes in torque output based on topography, altering the amount of torque needed to propel a vehicle uphill based on its gross. Continue reading
Groupe Renault Board Meeting Now on FCA Merger Bid
Based on FCA and Groupe Renault’s 2018 global sales, the combined company would be #4 in North America, #2 in EMEA and #1 in Latin America and would have the increased resources necessary to grow its footprint in the APAC region. On a simple aggregated basis of 2018 results, the combined company’s annual revenues would be nearly €170 billion with operating profit of more than €10 billion and net profit of more than €8 billion. Continue reading
Posted in milestones, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, fca, Groupe Renault, Ken Zino
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Carvana Ups Size, Price of Common Offering. Results Unknown
The offering is subject to customary closing conditions. Wells Fargo Securities, Citigroup and Deutsche Bank Securities acted as book-running managers for the proposed offering. Continue reading
Posted in financial results, marketing
Tagged auto industry commentary, autoinformed.com, automotive blog, Carvana, Ken Zino, online retail, sec
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BMW Stops Sales and Leasing of Mini, 5-Series, X1 and Rolls-Royce models for Bad Seat Belts. No Accidents, Injuries Known
Dealers have been told to stop sales and leasing of the recalled models, new or used. Continue reading
First Half of 2019 to Deliver Lowest US Retail Sales Since 2013
“The decline in new sales have been disappointing, but it’s important not to overlook the effect of growth in the used-vehicle market,” King said. “Used sales at franchised dealers are expected to increase by nearly 9% through the first half. Most significant for retailers is the greater profit opportunity due to higher front-end gross and F&I income earned compared with new vehicles. Overall combined new and used retailer profits through the first half are on pace to reach $23.4 billion, up 3.7% from last year. Shifting away from the traditional focus on volumes, 2019 remains on target to be one of the best years recorded.” Continue reading →