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Category Archives: results
Honda and IBM MoU on Software-Defined Vehicles
“The MOU outlines areas of potential joint research of specialized semiconductor technologies such as brain-inspired computing *[2 ] and chiplet technologies, with the aim to dramatically improve processing performance while, simultaneously, decreasing power consumption. Hardware and software co-optimization is important to ensure high performance and fast time to market. To achieve such benefits and manage design complexity for future SDVs, the two companies also plan to explore open and flexible software solutions,” Honda said in a release from Tokyo. Continue reading
Posted in auto news, autonomous vehicles, connected vehicles, electronics, milestones, mobility company, news analysis, software defined vehicles, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, automotive software, hardware and software co-optimization, Honda and IBM, Ken Zino, software-defined vehicles
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Chinese EV Trade War Commences
The Biden Administration has announced today that it will increase tariffs under Section 301 of the Trade Act of 1974 passed overwhelmingly under the Republican President Gerald Ford administration on $18 billion of imports from China to protect American workers and businesses.
“The President’s actions reflect the conclusions of U.S. Trade Representative Katherine Tai’s mandatory four-year review that China continues to engage in unfair practices, such as forced technology transfer and restrictions and intellectual property theft from U.S. companies,” media were told on a background briefing by National Economic Advisor Lael Brainard and Senior Administration Officials. Continue reading
Posted in auto news, AutoInformed Editorial, blog, economy, electric vehicles, fuel economy or emissions, manufacturing, milestones, news analysis, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, department of energy, Ken Zino, Section 301 of the Trade Act of 1974, Section 301 tariffs, solar cell imports from China, steel and aluminum imports from China, U.S. Secretary of Commerce Gina Raimondo, U.S. Trade Representative Katherine Tai
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Porsche 911 Hybrid Debuts on 28 May
Porsche said this morning in in Stuttgart that a hybrid-drive 911 sports car has completed development and will premiere on 28 May 2024. It is said to be 8.7 seconds faster than its predecessor on the Nürburgring, the track that is often used by marketers of performance sports cars for bolstering credulity of claims. Porsche performance claims have an extremely high degree of certainty in AutoInformed’s experience. Continue reading
Posted in auto news, electric vehicles, environment, fuel economy or emissions, global warming, milestones, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Frank Moser, Jörg Bergmeister, Ken Zino, nürburgring, porsche 911
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Honda Post Record Operating Profit of $7B in FY 24
“In FY25, we will steadily proceed with dedicating resources towards electrification and aim to achieve operating profit of ¥1 trillion 420 billion and an operating profit margin of 7%, which is one year ahead of our original target,” said Toshiro Mibe, Director, President and Executive officer. He was the first Honda chief executive in history to attend the annual results conference. Normally, the finance staff conducts it with regional operating officers. Continue reading
Toyota Motor Posts Record FY24 Net Income of $39.1B
“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading
Hyundai Capital America Fined for Civil Rights Violations
“Members of our Armed Forces should not have to worry about having their cars repossessed while they are in military service,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division. Continue reading
Posted in auto news, customer satisfaction, litigation, news analysis
Tagged Assistant Attorney General Kristen Clarke, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Civil Rights Violations, DOJ Civil Rights Division, Hyundai Capital America, Ken Zino, Servicemembers Civil Relief Act, U.S. Justice Department
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BMW Group – Good Q1 Earnings on Slight Sales Increase
The BMW Group said today in Munich that during Q1 of 2024 it delivered 594,533 automobiles. This means, the company posted a tiny increase of 1.1% compared to the previous year. Throughout the three-month period, the major automotive markets largely showed an upward trend based on pent up demand and increased sales in the mid-price volume segment. Continue reading
Greenhouse Gases – EPA Final Rule for Oil and Gas Sector
“As we implement the historic climate programs under President Biden’s Inflation Reduction Act, EPA is applying the latest tools, cutting edge technology, and expertise to track and measure methane emissions from the oil and gas industry,” said EPA Administrator Michael S. Regan. “Together, a combination of strong standards, good monitoring and reporting, and historic investments to cut methane pollution will ensure the U.S. leads in the global transition to a clean energy economy,” Regan said. Continue reading
Posted in economy, environment, fuel economy or emissions, global warming, milestones, news, news analysis, public health
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GHGRP, Greenhouse Gas Reporting Program, Inflation Reduction Act, Ken Zino, Michael S. Regan, President Biden
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Annals of Marketing – Audi Electric Mountain Bike
Audi of America said this morning that it will increase its range of e-mobility products with the launch of a limited-edition enduro-style electric pedal assist mountain bike – dubbed eMTB – powered by Fantic. It becomes available through Audi Genuine Accessories by the summer of 2024. The Audi eMTB has livery said to be inspired by the design of Audi’s electrified Dakar Rally-winning RS Q e-tron race car. Audi eMTB at ~$9795 comes from a deal with Italian motorcycle and e-bike manufacturer Fantic based upon its XEF 1.9 Factory enduro e-bike. Continue reading
Posted in alternative fuels, electronics, environment, marketing, milestones, mobility company, transportation
Tagged Audi Electric Mountain Bike, Audi eMTB, Audi Genuine Accessories, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Fantic XEF 1.9 Factory enduro e-bike, Ken Zino
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Ford Maverick Pickups Recalled for Tail Light Failures
Ford Motor Company is recalling more than 243,000 Maverick vehicles. The Body Control Module (BCM) on 2022-2024 models may deactivate one or both rear tail-lights without warning. The problem appears to simple math error during the design phase of product development. The rear lamps use two position bulbs on a single circuit. However, the BCM current threshold was calibrated to the current draw for one bulb. This is a variation and expansion of a previous rear light recall. Continue reading
Posted in auto news, customer satisfaction, electronics, engineering, recalls, safety
Tagged 23V-848 or 23V848. National Highway Traffic Safety Administration, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, ford recalls, Ken Zino, Maverick recalls, nhtsa, NHTSA 24V-293 or 24V293, software safety defects and recalls
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April 2024 US Vehicle Sales Drop Slightly
“Calendar effects meant that it was always going to be challenging to match last year’s sales in April. However, with replenished inventory levels helping the market to recover a year ago, the industry is now facing a higher bar in order to keep growing,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump
Mercedes-Benz Group AG (MBG.DE) has reported Group Earnings Before Interest and Taxes (EBIT) of €3.9 billion (Q1 2023: €5.5 billion) a surprising drop of -25% but in line with struggles at European-based Volkswagen Group and Stellantis. Continue reading
Posted in auto news, economy, electric vehicles, financial results, marketing, news analysis, results, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Daimler Truck, EV transition issues, G-Class, Ken Zino, Mercedes-Benz Cars, Mercedes-Benz Q1 2024 financial results
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Penske Automotive Group 2024 Q1 Earnings Drop
“Our retail automotive service and parts revenue grew 9% to a quarterly record of $746 million. During the quarter, we experienced a recovery across our used vehicle retail automotive operations with profitability improving sequentially by $428 per unit retailed. Further, I was pleased with our focus on controlling costs as selling, general, and administrative expenses as a percentage of gross profit improved by 30 basis points sequentially to 70.7%,” said Roger Penske Chair and CEO. Continue reading
Posted in auto news, financial results, manufacturing, mobility company, news analysis, results, transportation
Tagged auto industry commentary, autoinformed.com, automotive and commercial truck retailers, automotive blog, Automotive news and analysis, Ken Zino, NYSE: PAG, penske automotive group, roger penske
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Stellantis Q1 Revenues, Shipments Drop – Transition or Trend?
Stellantis reiterated a minimum commitment of double-digit Adjusted operating income (AOI) margin in 2024, as well as positive Industrial free cash flow, despite macroeconomic uncertainties. Stellantis claimed that it is on track to deliver total capital returns in 2024 more than €7.7 billion, for an 11% yield as a percentage of Stellantis market capitalization on 1 January 2024. It is likely that its value will go down in the short term. The company, in AutoInformed’s view is in a transition that requires the balancing of market share, product cost, revenue and development of new offerings. It is not alone among automakers. Continue reading
Posted in auto news, electric vehicles, financial results, mobility company, news analysis, results
Tagged alfa romeo, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, chrysler, citroën, Dodge, Fiat Topolino, jeep, Ken Zino, Maserati Grecale Folgore, Natalie Knight CFO of Stellantis, NYSE: STLA, Ram ProMaster, Stellantis Q1 2024 financial results
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EVs – Honda to Invest ~$65 Billion Through 2030
Honda Motor company Global CEO Toshihiro Mibe said today that it will invest ¥10 Trillion (~$65 billion) through 2030 on its electrification strategy as part of a vast reorganization or re-prioritization of its corporate strategy. Through the establishment of a vertically-integrated EV value chain with a central focus on batteries, as of 2030, Honda will reduce the cost of the battery to be procured in North America by more than 20% compared to the cost of current batteries. Honda promised it will establish a competitive business structure with an aim to reduce overall production cost by approximately 35%. Honda already has secured enough batteries for the planned production of approximately 2 million EVs per year. Continue reading →