Category Archives: results

CountryMark Refining to Install $18 Million in Pollution Controls to Resolve Clean Air Act Violations at its Indiana Refinery

Posted on 28 February 2013 by Ken Zino

The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice announced today that CountryMark Refining and Logistics has agreed to pay a $167,000 civil penalty, perform environmental projects totaling more than $180,000, and spend $18 million on new pollution controls to resolve Clean Air Act (CAA) violations at its refinery, located in Mount Vernon, Indiana. Continue reading →

Posted in environment, fuel economy or emissions, litigation, news | Tagged , , , , , , , , | Leave a comment

EU Commercial Vehicle Sales Drop 11% in January as Slump Continues

Posted on 28 February 2013 by Ken Zino

The sale of new commercial vehicles in the EU declined again in January (-10.6%), continuing a worrisome downward trend evident for all of 2012. Continue reading →

Posted in auto news, sales | Tagged , , , , , | Leave a comment

Cadillac XTS Now in Production in China, World’s Largest Market

Posted on 26 February 2013 by Ken Zino

Criticisms that auto companies are making vehicles in China or transferring jobs there are at best ignorant of, or deliberately ignore, Chinese industrial policy, which requires local partners and production for access to the market. There are also high Chinese tariffs on imports that effectively restrict volume exports of the kind that are now coming out of, say, South Korea under the U.S. Korean FTA. (I can only imagine the outcry if Mercedes-Benz was required to partner with the city of Detroit to build cars there – the ruling party in Detroit controlling the jobs – as a condition of access to the U.S., one of the world’s most lucrative luxury car markets. This is required in China.) Continue reading →

Posted in auto news, milestones, new vehicle, news analysis | Tagged , , , , , | Leave a comment

60-Day Auto Loan Delinquencies Rise for First Time since 2009

Posted on 22 February 2013 by Ken Zino

It was the first time since the end of 2009 that either 30- or 60-day loan delinquencies increased year-over-year. In what could be an early warning sign that sub-prime loans from finance companies are becoming too speculative, the total balance of 60-day delinquent loans grew from $3.48 billion in Q4 2011 to $3.93 billion in Q4 2012. Continue reading →

Posted in auto news, economy, financial results, news analysis | Tagged , , , , , , | Leave a comment

U.S. February Auto Sales Projected Up Again as Recovery Continues

Posted on 22 February 2013 by Ken Zino

Retail sales of new vehicles in the U.S. during February are forecast to increase from February 2012, as the tentative recovery of the U.S. economy continues. However, sales at 931,000 cars and light trucks or a seasonally adjusted annualized rate (SAAR) of 12.1 million units will dip below an unexpectedly strong January SAAR of 13.1 million, a normally slow selling month. U.S. vehicle sales in January were surprisingly strong, with no automaker stronger than Toyota Motor’s three brands, which increased sales almost 27% in a retail light-vehicle market that grew by 14% to more than 1 million units. Continue reading →

Posted in auto news, sales | Tagged , , , , | Leave a comment

VW Group Ties GM for Largest Automaker in China in January

Posted on 19 February 2013 by Ken Zino

The VW Group began the year with a 15% increase in sales for January, totaling 749,900 compared to January of 2012 at 652,400. A huge portion of the gain was the later date for the Chinese New Year, which means a decline in China is coming in February for all automakers when the holiday is celebrated. Nevertheless, The VW Group delivered 298,300 (208,200; +43.3%) vehicles in China, the region’s largest single market, in the first month of the year. This compares to China market leader GM, which sold 300,000 during the same period – a dead heat in the Chinese sales race. Continue reading →

Posted in auto news, news analysis, sales | Tagged , , , , , , | Leave a comment

January EU Car Registrations Plummet. Eurozone Crisis Deepens

Posted on 19 February 2013 by Ken Zino

Passenger car registrations plummeted in the 27 markets of the EU during January of 2013 to 885,159 units, reaching a historic low ever recorded for the month of January, since the start of record keeping began in 1990 by ACEA. Continue reading →

Posted in auto news, news analysis, sales | Tagged , , , , , | Leave a comment

Renault-Nissan Open an Automotive Electronics Office

Posted on 19 February 2013 by Ken Zino

Buyers aged 35 and under who grew up with myriad consumer-electronic-devices are particularly vocal about the design failures of automotive electronics. This is a growing problem for the product development departments of automakers that are largely managed by older white males. Continue reading →

Posted in auto news, customer satisfaction, people | Tagged , , , , , , , , | Leave a comment

Ferrari Posts €244 Million Profit for 2012, Best Year in History

Posted on 18 February 2013 by Ken Zino

Record sales during 2012 in the U.S., China, Germany and Great Britain resulted in Ferrari posting its best financial results in the Fiat-owned brand’s fabled 66-year history. A total of 7,318 road cars were delivered to dealers (+4.5% on 2011) with revenues of €2.433 billion, an increase of 8% from 2011. Continue reading →

Posted in auto news, financial results | Tagged , , , , , , | Leave a comment

Acura RLX Uses New Steel and Aluminum Bonding for Doors

Posted on 18 February 2013 by Ken Zino

When the Acura RLX goes on sale in the U.S. next month, its outer door panels will be made of aluminum joined to an inner steel frame. This unusual combination of dissimilar materials results in a reduction of door panel weight by approximately 17% compared to the conventional all-steel door panel. Continue reading →

Posted in fuel economy or emissions, manufacturing, milestones | Tagged , , , , , , | Leave a comment

Shape Memory Alloy Replaces Electric Motor On C7 Corvette

Posted on 15 February 2013 by Ken Zino

While much of the news about weight savings on the revised 2014 Corvette coming this fall has concentrated on the aluminum chassis that saves 99 pounds when compared to its steel predecessor, GM is also using a heat-activated shape memory alloy that replaces a heavier motorized part. The electric wire will be used in place of a heavier motorized actuator to open a the hatch vent that releases air from the trunk to allow for easier closing by releasing trapped air through the opening. When the hatch is closed, the vent closes. Continue reading →

Posted in energy, milestones, new vehicle | Tagged , , , , , | Leave a comment

Ford Motor Promotes Family Member Elena Ford to Vice President

Posted on 15 February 2013 by Ken Zino

Ford Motor Company said that Elena Ford is elected a vice president and leader of the company’s new Global Dealer and Consumer Experience organization starting this March. Ford is the great-great granddaughter of Henry Ford and the granddaughter of Henry Ford II. Ford earned a bachelor’s degree in Business from New York University. Continue reading →

Posted in auto news, customer satisfaction, people | Tagged , , , , , | Leave a comment

GM Earns $4.9 Billion in 2012 down from $7.6 Billion in 2011

Posted on 14 February 2013 by Ken Zino

General Motors Co. (NYSE: GM) today announced 2012 calendar-year earnings of $4.9 billion, or $2.92 per fully diluted share, down from $7.6 billion, or $4.58 in 2011. The company sold 9.3 million vehicles during the year and the earnings, while positive for the third straight year, were hurt by deepening losses in Europe, which has cost GM -$18 billion since 1999. GM wrote down more than $5 billion in assets in the Eurozone, and it also wrote off more than half the value of its PSA Citroen stock (-$220 million) acquired latest year in what GM said was a collaboration that would, eventually, save billions. North American costs also increased, resulting in flat earnings for GM’s most profitable market. GM did however pick up 4 points of market share in China, the world’s largest auto market. Continue reading →

Posted in auto news, financial results | Tagged , , , , , , , | Leave a comment

U.S. Vehicle Dependability at All-Time High as New Models Lead

Posted on 13 February 2013 by Ken Zino

Overall vehicle dependability continues to improve for three-year old models to an all-time high, and for the first time dependability of all-new or substantially redesigned models is greater than carryover models from automakers. This is good new for used car buyers since well maintained off-lease vehicles will likely be durable. This assertion also confounds the conventional wisdom that says avoid buying all new models when they first go on sale. Continue reading →

Posted in auto news, customer satisfaction, quality | Tagged , , , , , , | Leave a comment

Honda Expands Fit EV Leasing to East Coast Markets

Posted on 13 February 2013 by Ken Zino

The all-electric 2013 Honda Fit EV will be available for leasing later this month in Massachusetts, Connecticut, Maryland, New York, and New Jersey. The three-year term costs $389 per month, which computes to a Manufacturer’s Suggested Retail Price (MSRP) of $36,625. Collision coverage, maintenance costs and roadside assistance service are included in lease-only vehicle. Gasoline fueled versions of the Fit sell in the $16,200 to $21,000 range. Continue reading →

Posted in auto news, electric vehicles, fuel economy or emissions | Tagged , , , , | Leave a comment