Category Archives: results

U.S. August Auto Sales Tepid at a Projected 12 Million Units

Posted on 24 August 2012 by Ken Zino

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 →

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Auto Loan Delinquency Rate Declines by 35%

Posted on 23 August 2012 by Ken Zino

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 →

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Volkswagen Barely Increases Sales in Germany During July

Posted on 23 August 2012 by Ken Zino

Europe’s strongest brand is showing the negative effects of the ongoing Eurozone crisis in July as year-to-date Volkswagen sales in Germany rose to 361,400, only a 2.5% increase year-over-year. In the rest of Western Europe sales dropped 5% from the comparable prior-year period. Results were better elsewhere, so much so that the VW brand posted an an overall increase of 11.9% to 468,300 (July 2011: 418,600) for the month of July. Continue reading →

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Union Pacific Unveils Low Emissions Hybrid Locomotive

Posted on 22 August 2012 by Ken Zino

Union Pacific Railroad (NYSE: UNP) today unveiled an experimental locomotive that will test three emissions-reducing technologies – exhaust gas recirculation, diesel oxidation catalysts and diesel particulate filters. While automotive enthusiasts might snicker about how far behind the heavy-duty diesel engine industry is lagging what are now virtually emissions free automobiles, the new locomotive is a significant step toward meeting EPA Tier 4 emission standards that are finally addressing large commercial vehicles. Continue reading →

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Consumer Reports Auto Tester David Champion Joins Nissan

Posted on 22 August 2012 by Ken Zino

Nissan today announced the hiring of former Consumer Reports Auto Test Center Senior Director, David Champion, for a newly created position of executive adviser, competitive assessment and quality. The Japanese automaker is launching five new vehicles in 15 months, and its quality reputation is decidedly uneven. Consumer Reports rates 13 of 25 Nissan and Infiniti models this year as recommended buys. The J.D. Power Vehicle Dependability report has both Nissan and Infiniti well below industry average. Continue reading →

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Milestones – 40 Years of Toyota Auto Body – Thanks to a so-called “Chicken Tax”

Posted on 22 August 2012 by Ken Zino

In one of the ironies of history, Ford Motor, one of the then dominant Detroit Three companies that lobbied the Johnson Administration for protection against imported light trucks, now uses the same tax dodge by performing minor work on its Turkish-built Transit Connect van outside the incoming port of Baltimore to lower its tax rate to 2.5%. Continue reading →

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World Record Claimed for Pebble Beach Auto Auction

Posted on 21 August 2012 by Ken Zino

The official auctioneer of the Pebble Beach Concours d’Elegance sold more than $113.7 million at the Pebble Beach Auctions on August 18 and 19. Twenty-four collector cars sold in excess of $1 million each, led by the von Krieger Special Roadster, a 1936 Mercedes-Benz 540 K, which sold for $11,770,000 on Sunday night, a claimed double world record for a Mercedes-Benz and a pre-war car at auction. Continue reading →

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Messing with Texas – Trees for Electric Vehicle Testing

Posted on 21 August 2012 by Ken Zino

Electric utility Reliant (NYSE: NRG) and its EV recharging subsidiary eVgo will donate $25 to the Texas Trees Foundation or Trees for Houston each time a customer take an electric vehicle test drive of the Mitsubishi “i” or Nissan Leaf in North Texas or Houston between now and December 1st at participating EVs for Trees dealerships. Participating dealers will also donate $25. If a NRG customer test drives both the Nissan Leaf and Mitsubishi I, a total of $75 will be donated to the local tree planting organization. Continue reading →

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Top Ten Stolen Vehicles for 2011 Revealed by NCIB

Posted on 20 August 2012 by Ken Zino

The National Insurance Crime Bureau or NICB today released its list of the 10 stolen vehicles in the United States. The top spots were evenly split in 2011 with five occupied by offshore brands and five by U.S. automakers. The most popular stolen vehicles among the Detroit Three bands were Ford, Dodge and Chevrolet pickup trucks each holding one spot with Dodge Caravan and Ford Explorer rounding out the domestic models. Continue reading →

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Sinclair Oil to Pay $3.8 Million Penalty for Refinery Pollution

Posted on 20 August 2012 by Ken Zino

Sinclair Oil Corporation will pay a $3.8 million fine and install pollution control equipment at its refineries in Casper and Sinclair, Wyoming after it previously agreed to reduce pollution, but then failed to do so. The U.S. Justice Department said today that the pollution controls would cost about $10.5 million, including other projects to resolve the allegations of violations of the Clean Air Act. Continue reading →

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Incentives, Declining Used Car Prices Could Boost U.S. Auto Sales

Posted on 17 August 2012 by Ken Zino

New-vehicle incentives and rebates, as well as declining prices on used vehicles are a couple of factors pointing to steady auto sales as the summer months come to a close, according to the National Automobile Dealers Association. Continue reading →

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China Sales Satisfaction Down. Audi, Nissan, Hyundai Lead

Posted on 17 August 2012 by Ken Zino

There is a decline in customer satisfaction in China as experienced salespeople are in short supply as auto dealerships continue to expand. Coupled with the slow down in Chinese vehicle sales this year, there is a “notable deterioration” in overall sales satisfaction among new-vehicle owners in China. Continue reading →

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Porsche Sales up 16% in July. Boxster and 911 Strong

Posted on 17 August 2012 by Ken Zino

Porsche increased sales in July by 16% helped by strong sales of the Boxster and 911. The automaker sold 12,391 cars and trucks during the month. Led by sales of the Panamera sedan and Cayenne sport utility vehicle, Porsche has sold 81,562 vehicles (+14 %) in the first seven months of 2012. Continue reading →

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Ford EU July Sales off 12%, Lowest Since 1995. Lags Industry

Posted on 16 August 2012 by Ken Zino

Ford Motor Company sales in its traditional 19 European markets decreased in July to 83,100 vehicles, -12.3% lower than July 2011 in an industry with heavy discounting that was off 7.6% overall. Year-to-date, Ford sales were 700,200 units, down 11% during the same period last year compared to an industry decline of 7%. Both results were the lowest sales for Ford in the EU since 1995 as the Eurozone crisis continues unabated. Continue reading →

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First Look – 2013 Range Rover SUV

Posted on 16 August 2012 by Ken Zino

Land Rover has released the first photos of what it says is an all-new 2013 Range Rover. The fourth generation version drops its steel body for an all-aluminum monocoque design that is somewhat lighter. The upshot is total vehicle weight savings of about 700 pounds on what will remain about a 5,000 pound (or more) SUV in its two V8-powered U.S. versions. Currently the $80,000-$100,000 sport ute is rated by the EPA a 12 mpg city, 18 highway and 14 mpg combined, which is at the lower end of the class and requires a 28-gallon tank of premium fuel to provide a decent range. Continue reading →

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