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Ford Motor Posts 2023 Net Income of $4.3 Billion
CFO John Lawler said that Ford’s robust cash flow and disciplined capital allocation enable vital investments in Ford+ while also returning value to shareholders – targeting distributions of 40% to 50% of adjusted free cash flow. Ford declared a first-quarter regular dividend of 15 cents per share and a supplemental dividend of 18 cents per share. The dividends are payable March 1 to shareholders of record at the close of business on Feb. 16. Lawler said that Ford “will improve capital efficiency by both selectively reducing investments and raising the bar on expected returns for initiatives that the company greenlights.” Continue reading
Annals of Marketing – RIP MINI Clubman
The last MINI Clubman rolled off the production line at MINI Plant Oxford today 55 years after the model’s debut with rear swinging doors in 1969. Since its introduction more than 1.1 million MINI Clubman models have been built, with half of these made at MINI Plant Oxford. Exported to more than 50 countries, the Clubman darts around the globe if they haven’t rusted into premature oblivion. During 2023, the Clubman was pushed with the launch of The Final Edition. It had an edition-specific Shimmer Copper radiator grille and side scuttles, 18” Final Edition 2-tone alloy wheels and exclusive ‘Final Edition’ lettering on the rear. Limited to 1969 units, the Final Edition noted the launch year of the original. Continue reading
Kia Recalls Niro EV and EV6 Models for Driveshaft Failures
Due to a manufacturing error by the supplier, Hyundai WIA, the left hand drive shaft in the subject Niro EV vehicles and rear inner drive shaft in the subject EV6 vehicles may have been improperly heat-treated. An improperly heat-treated drive shaft may break under load resulting in a sudden, unexpected loss of motive power, thereby increasing the risk of a crash. Continue reading
Posted in customer satisfaction, manufacturing, quality, recalls, safety
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Hyundai made driveshafts, Ken Zino, Kia 2024 Niro EV and 2023 EV6 recalls, Kia driveshaft recall, NHTSA recall 24V057
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Tesla Recalls 2.2 Million Vehicles Covering 13 Model Years
Tesla is recalling 2012-2023 Model S, 2016-2024 Model X, 2017-2023 Model 3, 2019-2024 Model Y, and 2024 Cybertruck vehicles. An incorrect font size is displayed on the instrument panel for the Brake, Park, and Antilock Brake System (ABS) warning lights. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 105, “Hydraulic and Electric Brake Systems” and 135, “Light Vehicle Brake Systems.”
A visual warning indicator whose letter font size is smaller than 3.2 mm (1/8 inch), as prescribed in FMVSS Nos. 105 (105 – Hydraulic and electric brake systems) and 135 (135 – Light vehicle brake systems), could reduce the driver’s detection of it when illuminated, increasing the risk of a collision. Continue reading
Posted in customer satisfaction, electric vehicles, energy, mobility company, news analysis, public health, quality, recalls, safety, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Brake Park and Antilock brake system recall, Ken Zino, National Highway Traffic Safety Administration, NHTSA Campaign Number: 24V051, Tesla Recalls
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Air Travel Consumer Report Shows Improvements in 2023
The US Department of Transportation (DOT) today released its Air Travel Consumer Report (ATCR)* on airline operational data compiled for the month of November 2023 for on-time performance, mishandled baggage, and mishandled wheelchairs and scooters. During 2023, DOT issued the largest fines on airlines in the history of the Office of Aviation Consumer Protection while helping return more than $3 billion in refunds to travelers since the start of the pandemic. Continue reading
Posted in aviation, customer satisfaction, news analysis, people, transportation
Tagged air travel consumer report, ATCR, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, Office of Aviation Consumer Protection, President Biden and DOT Secretary Buttigieg, USDOT Bureau of Transportation Statistics
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US Transportation Sector January Unemployment Flat
Unemployment in the transportation sector was higher than overall unemployment. BLS reports that the US unemployment rate, not seasonally adjusted, in January 2024 was 4.1% or 0.6 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in January 2024 was 3.7%, as the Federal reserve continues its indefensible ideological, anti-data tight money policy (the highest interest rates in two decades!) with little or lately no inflation in AutoInformed’s view. Continue reading
Slow Sales Start for US Light Vehicles in January 2024
“After a flurry of sales activity in December, there was always a risk that January would see some payback, with fewer consumers on the hunt for a new vehicle, and so it transpired. Apart from normal seasonal effects, the current environment is such that buyers remain price-sensitive and if the right deals are not available, volumes are liable to suffer,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Posted in auto news, economy, electric vehicles, marketing, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, David Oakley, GlobalData, GM, Jeff Schuster, Ken Zino, tesla, Toyota Group, Toyota RAV4, US light vehicle sales January 2024
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Polestar 4 now on Sale in Europe and Australia
“The introduction of Polestar 4 into all our markets through the course of 2024 is key to our success, adding this third model to our line-up. Polestar 4 tackles the premium performance class in the D-SUV segment. Polestar 4’s innovative interpretation of an SUV coupé offers great interior space and a stunning appearance,” said Thomas Ingenlath, Polestar CEO. Continue reading
Posted in auto news, connected vehicles, electric vehicles, electronics, engineering, fuel economy or emissions, manufacturing, marketing, milestones, shows and events, software defined vehicles
Tagged (Nasdaq: PSNY), auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Borås Textilhögskolan, Geely Holdings SEA factory Hangzhou Bay China, Ken Zino, Polestar 4, Thomas Ingenlath
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Biden-Harris Administration – 157 More Infrastructure Grants
The US Department of Transportation’s Federal Aviation Administration (FAA) said today it will award $245.9 million in Fiscal Year (FY) 2024 Airport Infrastructure Grants (AIG). under the. The $245.9 million includes 153 grants in 37 states to modernize airport infrastructure, improve runway safety, and create jobs to build a better America. This trumps the trend during the last decade where political talk without funding delayed the ability to modernize technology and infrastructure that support the airspace. Continue reading
Posted in aviation, environment, milestones, news, news analysis, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris Administration, Bipartisan Infrastructure Law, dot, faa, Federal Aviation Administration, Ken Zino, Pete Buttigieg, President Biden, Vice President Harris.
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January 2024 US Light Vehicle Sales Forecast to Drop a Tad
“After December 2023 reached the strongest sales pace in several years, January’s pace has slowed to 15.2 million units. December’s SAAR of 16.2 million was inflated by elevated discounts from manufacturers, particularly as they aimed to clear out remaining inventory of 2023 model-year vehicles. In addition, changes in the eligibility of many electric vehicles to qualify for government rebates, which took effect Jan. 1, meant many EV purchases that would have occurred in January were made in December. Since January is the month of the year when the fewest vehicles are sold, the aforementioned factors have a bigger effect on the SAAR than they would in higher volume months. In fact, while the drop in the SAAR is notable, January sales results historically are not particularly indicative of future sales performance,” says Thomas King, president of the data and analytics division at J.D. Power. Continue reading
Donald Trump is a Scab – UAW Endorses President Biden
“This November, we can stand up and elect someone who wants to stand with us and support our cause. Or we can elect someone who will divide us and fight us every step of the way,” said UAW President Shawn Fain. “That’s what this choice is about. The question is, who do we want in that office to give us the best shot of winning? Of organizing. Of negotiating strong contracts. Of uniting the working class and winning our fair share once again, as our union has done so many times in our nation’s history. We need to know who’s going to sit in the most powerful seat in the world and help us win as a united working class,” said Fain. Continue reading
Posted in auto news, customer satisfaction, economy, labor issues, manufacturing, milestones, people, shows and events, transportation
Tagged 2024 presidential election, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, CAP, donald trump, Ken Zino, President Biden, Shawn fain, uaw, UAW Community Action Program conference
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GM Creates New VP of Batteries Position
General Motors (NYSE: GM) said today that it has hired Kurt Kelty, a battery expert and former Tesla executive, to be vice president of Batteries, reporting to GM President Mark Reuss. Kelty in a new position at GM will be charged with GM’s battery cell strategy and what it is calling an “end-to-end approach.” This will include the use of raw materials, research, developing and investing in new technology, commercialization of cells and packs, and end of life opportunities.
“The foundation that GM has established coupled with Kurt’s exceptional battery expertise in leading battery chemistry development, establishing partnerships, building out supply chains and partnering closely with teams that have developed leading battery systems will help us achieve our electrification goals and position GM as a leader in EV technology,” said Reuss. Continue reading →