Category Archives: results

Stellantis Net Profit Down 70% in 2024

Posted on 26 February 2025 by Ken Zino

Stellantis (NYSE: STLA) said today that full year 2024 results were net revenues of €156.9 billion, down 17% compared to 2023. Net profit was €5.5 billion, down 70%. Adjusted operating income of €8.6 billion fell 64%. Industrial free cash flows were negative €6 billion reflecting the decline in income and temporary enlarged working capital impact due to production cuts. However, despite the almost total car wreck, the dividend to common shareholders is proposed at €0.68 per share, representing a 5% yield, pending shareholder approval. Continue reading →

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First Glance – 800-Volt Volvo ES90

Posted on 26 February 2025 by Ken Zino

Volvo (VOLCAR B:STO) said today that its new, fully electric car – the impending Volvo ES90 sedan – has new 800-volt technology in its latest electric model offering. The ES90 will be revealed globally on 5 March 2025.

“Our 800V technology marks another significant technological upgrade for our customers as we move towards full electrification,” said Anders Bell, chief engineering and technology officer. “It makes our electric cars even more efficient, helps you charge your electric Volvo faster and go further on a single charge.” Continue reading →

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BMW Manufacturing Top U.S. Exporter Again

Posted on 26 February 2025 by Ken Zino

BMW Manufacturing said today that it was the leading automotive exporter by value in the United States in calendar year 2024, according to data released this month by the U.S. Department of Commerce. Plant Spartanburg exported~225,000 BMW Sports Activity Vehicles and Coupes last year with an export value of more than $10 billion. Since 2014, the South Carolina plant has exported more than 2.7 million BMWs – about 63% of total production – with an export value of more than $104 billion. Continue reading →

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Porsche AG Changes Its Executive Board

Posted on 25 February 2025 by Ken Zino

Porsche AG – with an eye aimed at the capital markets – said today that it is making a long-planned change to its Executive Board. Effective tomorrow 26 February 2025, Jochen Breckner (47) will take over responsibility for Finance and IT, with Matthias Becker (54) becoming responsible for Sales and Marketing. They succeed Lutz Meschke (58) and Detlev von Platen (61), who are leaving the company by mutual agreement. Breckner previously headed Porsche’s General Secretariat and Corporate Development. Becker was most recently Head of the Overseas and Emerging Markets region at Porsche AG and has successfully developed it into one of Porsche’s strong sales pillars. Continue reading →

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Mercedes-Benz Testing Solid State Battery on Roads

Posted on 24 February 2025 by Ken Zino

Mercedes-Benz said today that its engineers from the road and racetrack worked in collaboration with Factorial cell engineers to deliver an all-new solid-state battery test program, resulting in the first car – a Mercedes-Benz EQS Sedan – powered by a lithium-metal solid-state battery on the road.

“Developing an automotive-scale solid-state battery underlines our commitment to innovation and sustainability. We’re therefore excited to announce that we’ve started road testing with a prototype vehicle equipped with this advanced technology. We will gain crucial insights into possible series integration of this cutting-edge battery technology,” said Markus Schäfer, Member of the Board of Management of Mercedes‑Benz Group AG. Chief Technology Officer, Development & Procurement. Continue reading →

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Tariffs – Trump’s Next Economic Disaster Looming

Posted on 21 February 2025 by Ken Zino

Despite all the legal and political controversies surrounding the Trump Administration’s trade and tariff policies, there is emerging clarity in one area with a high potential for damaging the auto industry and the U.S. economy. Anderson Economic Group identified the threat of tariffs as a “two-alarm fire for the auto industry” as early as November 2024. It recently estimated the costs per car of tariffs on Mexico and Canada at $4000 to $10,000, based on its analysis of ten different vehicles from multiple manufacturers.

“The Trade Expansion Act (TEA) has clear statutory authority. It’s been used before. It’ll probably be used again, whether now or next year, said Patrick Anderson,* Anderson Economic Group CEO today speaking to the Automotive Press Association. Continue reading →

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Stellantis Unveils STLA AutoDrive

Posted on 20 February 2025 by Ken Zino

Stellantis (NYSE: STLA) today debuted  STLA AutoDrive 1.0, the Company’s first in-house-developed automated driving system. It claims to deliver Hands-Free and Eyes-Off (SAE Level 3) functionality. STLA AutoDrive is a key to Stellantis’ technology strategy, alongside STLA Brain and STLA Smart Cockpit, by advancing vehicle intelligence, automation and user experience. STLA AutoDrive enables automated driving at speeds up to 60 km/h (37 mph), reducing driver workload in stop-and-go traffic. It’s described as ideal for commuters in dense urban areas since , STLA AutoDrive will allow drivers to temporarily engage in non-driving tasks such as watching a movie, catching up on emails, reading a book or simply looking out the window, reclaiming valuable time. Continue reading →

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Michigan Signs MOU With UAE

Posted on 19 February 2025 by Ken Zino

Michigan Governor Gretchen Whitmer joined His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah (RAK), and leaders from the Michigan Economic Development Corporation (MEDC) and the University of Michigan (U-M) to sign a strategic Memorandum of Understanding (MOU) to advance global innovation, entrepreneurship, economic growth, and job creation. The ceremony was attended by Robert Raines, Consul General of the United States in Dubai and the Northern Emirates, along with a delegation of business, academic, and innovation leaders from the State of Michigan.

“Michigan is an international leader in manufacturing and innovation,” said Governor Whitmer. “By signing a Memorandum of Understanding with RAK and the University of Michigan, we are highlighting our advanced manufacturing strength, engineering talent, and cutting-edge R&D while showing the world why they should continue to create jobs and invest in Michigan.” Continue reading →

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Society of Automotive Analysts – New Board of Directors

Posted on 18 February 2025 by Ken Zino

The Society of Automotive Analysts (SAA) today announced its Board of Directors for 2025. Adam Bernard, Founder and Principal of AutoPerspectives, will serve as SAA president, while Jeff Schuster, President of Forecasting, GlobalData, moves into the vice president role. The SAA’s stated goals are to provide automotive professionals exclusive access to industry leaders, early insights and outstanding networking opportunities. “SAA members include every automotive industry professional interested in timely and useful auto industry data, discussion and dissemination of ideas, concepts and solutions,” the SAA said. Continue reading →

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Toyota and Lexus Recalls for Bad Safety Belts

Posted on 17 February 2025 by Ken Zino

Toyota Motor Engineering & Manufacturing is recalling ~50,000 2025 Toyota Camry Hybrid, Lexus NX250, NX350, NX350 Hybrid, 2024-2025 Lexus RX350, RX350 Hybrid, and RX500 Hybrid vehicles for damaged Mexican made seat belts.

“The second-row center seat belt webbing may be damaged. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 209, Seat Belt Assemblies,” Toyota told the National Highway Traffic Safety Administration in the mandatory safety defect filing made public by NHTSA today. Continue reading →

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GM Recalls Sierra 1500 Trucks for Grilles Flying Off

Posted on 17 February 2025 by Ken Zino

General Motors (NYSE: GM) is recalling more than 70,000 2022 model GMC Sierra 1500 pickup trucks equipped with chrome front grille deflectors. The attachments that hold the front grille deflectors in place may fracture, resulting in grille detachment, according to the mandatory safety defect filing made public by the National Highway Traffic Safety Administration today. Continue reading →

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Hyundai Motor America recalls 2025 IONIQ 5 EVs

Posted on 17 February 2025 by Ken Zino

Hyundai Motor America is recalling 2025 IONIQ 5 EV vehicles. The rear floor wiring harness may contain an open circuit, which can result in the rear side airbag not deploying as intended, according to the mandatory safety recall filing made public by the National Highway Traffic Safety Administration today. The driving will see the Illumination of the airbag warning lamp. A rear side airbag non-deployment may increase the risk of injury to occupants during crashes warranting commanded deployment of the SRS. Continue reading →

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Volvo Car USA Recalls EX90s for Headlight Failures

Posted on 17 February 2025 by Ken Zino

Volvo Car USA is recalling 2025 EX90 electric full-size SUVs. Due to a software error in the low power controller (LPC), the headlight shutters may close over the high and low beams while driving, according to the mandatory safety recall filing made public today by the National Highway Traffic Safety Administration. A Temporary DIM message is displayed for 2-3 seconds during the safety defect. Continue reading →

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Trump Tax Cuts for Rich among other things Wildly Unpopular

Posted on 14 February 2025 by Ken Zino

Data for Progress said today that House Republicans currently debating budget reconciliation are planning to extend and expand President Trump’s 2017 tax cuts for corporations and high-income households, which are expected to cost trillions in the coming years. To pay for this, GOP Congress members have proposed slashing health care, food assistance, education funding, and many tax credits benefiting low-income communities and shifting costs to states and families.

Together with the Student Borrower Protection Center and Groundwork Collaborative, Data for Progress conducted a survey from 31 January – 2 February measuring voter sentiment toward cuts to federal funding and tax breaks for the wealthy. The poll shows that many government programs are very popular with likely voters: Medicare, Medicaid, Social Security, and SNAP each have support from more than 3 in 4 respondents. Continue reading →

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