Category Archives: results

First 118 MPGe Honda Fit EV Delivered in California

Posted on 23 July 2012 by Ken Zino

American Honda initially will lease Fit in some California and Oregon markets. Some East Coast locations will be added next year. The EV is lease-only with a price of $389 per month for three-years, which computes to a Manufacturer’s Suggested Retail Price (MSRP) of $36,625. Collision coverage, maintenance costs and roadside assistance service included in lease. Gasoline versions of the Fit sell in the $16,200 to $21,000 range. Continue reading →

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Honda Indiana Plant to Increase Capacity and Add Civic Hybrid

Posted on 18 July 2012 by Ken Zino

Honda announced at the Automotive Press Association in Detroit that it is investing $40 million to increase annual capacity by 50,000 units to 250,000 vehicles at its Indiana plant. The strong Japanese Yen continues to be a good development for autoworkers as all Japanese firms are shifting production out of Japan. Continue reading →

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EU Passenger Car and Commercial Vehicles Sales Down Again

Posted on 17 July 2012 by Ken Zino

Thus far the European auto industry has done little to reduce its capacity, which is now widely discordant with constantly falling demand. GM is planning to close its Opel Zafira plant in Bochum, Germany after the run-out of the current Zafira in 2015, but that is not enough to return Opel to profitability after decades of losses totaling hundreds of billions dollars. Opel employs 20,800 people across Germany and more than 40,000 across Europe. The head of GM Europe was ousted earlier this month over the continuing losses and the lack of progress. Continue reading →

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Ford India Expands Chennai Engine Plant

Posted on 17 July 2012 by Ken Zino

Ford India today announced it has completed the expansion of its Chennai engine plant, increasing annual engine production capacity 36% to 340,000. The additional capacity of 80,000 diesel engines helps meet increasing demand for diesel powertrains in India as well as export markets. The expansion, which Ford hopes will be ongoing, led to the hiring of 200 employees. Continue reading →

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BP, Marathon, Exxon Mobil, Monsanto, BASF, and Other Hazardous Waste Polluters to Pay for Texas City Superfund Cleanup

Posted on 17 July 2012 by Ken Zino

The Department of Justice and the U.S. Environmental Protection Agency (EPA) announced have reached an agreement with more then three dozen companies and government agencies that will result in a $56.4 million cleanup of the “Malone Services Company” Superfund Site in Texas City, Texas. The former waste-disposal site is near the shore of Galveston Bay. The deal avoids costly and time-consuming litigation. Continue reading →

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BP to Pay $13 Million More in fines for Refinery Worker Deaths

Posted on 13 July 2012 by Ken Zino

BP Products North America will pay $13,027,000 in penalties and fix workplace violations that led to the deaths of 15 workers at its Texas City refinery in 2005. In September 2005, OSHA cited BP for a then-record $21 million – before the 2010 BP Deepwater Horizon disaster in the Gulf – because of the explosion at Texas City. Under the agreement, BP has fixed or will fix all existing violations by the end of 2012. Continue reading →

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Ford Europe Sales Plummet in June

Posted on 13 July 2012 by Ken Zino

Ford Europe sales in June dropped 16.1% to 100,400 units, with a declining market share of 7%, as the Eurozone crisis continues unabated. In a statement, Ford said that it would not match “heavy competitive discounting” by its already loss making European operations. Continue reading →

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PSA Peugeot Citroën to Reorganize, Close Aulnay Plant

Posted on 13 July 2012 by Ken Zino

Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board has told the works council that the loss-making French automaker will close the Citroën C3Aulnay plant in 2014, and trim production at Rennes, which makes the Peugeot 508 and Citroën C5 and C6. More than 4,400 jobs are affected. Work in other plants could absorb 1,500 of the displaced workers in the local Paris area. The company will also pursue voluntary separations of its corporate workforce. Continue reading →

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EU Pols Say Tough New CO2 Limits Will Create Auto Jobs

Posted on 12 July 2012 by Ken Zino

As part of the proposal adopted yesterday by the European Commission to limit drastically CO2 emissions from cars and light commercial vehicles, there were claims made that it makes economic sense. Continue reading →

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Ford Motor Company Declares $0.05 Q3 Dividend

Posted on 12 July 2012 by Ken Zino

The move comes as Ford shares are trading just above $9 a share, down from a 52 week high of $13.44. On an annualized basis, this represents a return of about 2%, which makes Ford look like a relative bargain in a market awash in Federal Reserve printed dollars and, as a result, record low interest rates for speculators and borrowers. Continue reading →

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European Makers Squeal Over Tough CO2 Targets Just Announced

Posted on 11 July 2012 by Ken Zino

It is not clear if the European auto industry has the political influence to modify the regulations in the face of strong and apparently growing (at least among regulators and some political parties) green sentiment in Europe. Continue reading →

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Milestones – 40 Million Ford Engines Produced at Dagenham

Posted on 11 July 2012 by Ken Zino

Production at Dagenham for Ford vehicles accounts for about 70% of Dagenham’s output, with the balance of more than 270,000 engines for Jaguar Land Rover, Mazda, PSA Peugeot Citroën and Volvo. Ford is in the process of phasing out its successful 12-year joint venture with Peugeot since PSA is now the process of establishing a global alliance with General Motors. All of these companies are hemorrhaging billions of dollars – or euros in Europe as the Eurozone crisis deepens. The British pound is helping Ford somewhat, but losses are projected to quadruple in Europe for the balance of 2012. Ford Europe lost $149 million in Q1, a -$449 million swing compared to 2011. Continue reading →

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Used Vehicle Sales Decline in June, But Franchise Sales Grow

Posted on 11 July 2012 by Ken Zino

The U.S. auto sales industry sold 4,382,519 used vehicles in June, down 2.48% compared to a year ago. This contrasts to new vehicle sales of 1.3 million cars and light trucks, which once again begs the question if new vehicle prices are too high and driving people out of the market? About 80% of U.S. workers commute to work in a car or truck. Continue reading →

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Airline On-Time Performance Improves in May

Posted on 10 July 2012 by Ken Zino

The largest airlines in the U.S. reported an on-time arrival rate of 83.4% in May, up from the 77.1% on-time rate of May 2011. This was down from April 2012’s 86.3% rate, according to the U.S. Department of Transportation’s Air Travel Consumer Report released today. Continue reading →

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Volvo Fined $1.5 Million for Not Reporting Safety Defects

Posted on 6 July 2012 by Ken Zino

Volvo – once known for its safety reputation – now has the dubious distinction of joining Toyota Motor and BMW Group in paying penalties for not reporting defects or violations of U.S. regulations. Volvo will pay the fines into the General Fund of the U.S. Treasury; they will not go toward enforcement of U.S. Safety regulations. Continue reading →

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