Category Archives: results

Ford Motor New Financial Reporting – Billions in EV Losses

Part of today’s presentation showed Ford’s nascent electric vehicle venture – Ford Model e – lost $3 billion before taxes during 2021 and 2022. More such losses are coming in the near term. Helping stem the tide of red ink, Ford Blue – its traditional internal combustion business – is forecast to post a $7 billion pretax profit in 2023, marginally better than last year. Ford Pro is forecast to earn $6 billion before taxes, almost double 2022 earnings. Other business units include corporate, Ford Credit and Ford Next, dubbed a new business incubator. Continue reading

Posted in electric vehicles, financial results, milestones, news analysis, shows and events | Tagged , , , , , , | Leave a comment

John Dion to be Chief Transformation Officer at Struggling Ford

Ford Motor reported a disappointing 2022 full-year net loss of $2.0 billion. During Q4 of 2022 Ford posted an adjusted EBIT $10.4 billion, and operating cash flow $1.2 billion for the quarter, $6.9 billion for the year. This was in stark contrast to GM, which reported a record $14.5 billion in earnings for 2022. (autoinformed.com: GM Posts Record $14.5 Billion in Earnings During 2022) “We should have done much better last year,” said CEO Jim Farley at the time. “We left about $2 billion in profits on the table that were within our control, and we’re going to correct that with improved execution and performance.” Continue reading

Posted in customer satisfaction, financial results, manufacturing, people | Tagged , , , , , , | Leave a comment

BMW Manufacturing Spartanburg Supports 43,000 SC Jobs

The plant’s direct employment base also accounts for 4.8% of all manufacturing jobs across South Carolina. The former Confederate state of South Carolina is currently enmeshed in battle over whether or not to impose the death penalty for abortions. BMW Manufacturing has a Family Health Center at its South Carolina plant for all BMW workers, retirees and their dependents with occupational, primary care services, as well as vision, dental and physical therapy. The combination of cost savings and the benefits of having medical services all in one location offer the company’s non-unionized workforce a progressive option in their healthcare management. The center is a $5 million investment in a 25,000 square foot facility. To say that this would be a politically sensitive at a woke German automaker is an understatement. Continue reading

Posted in economy, electric vehicles, environment, financial results, manufacturing, people | Tagged , , , , , , , | Leave a comment

More Ford Recalls Published – Millions of Vehicles Involved

According to the latest safety defect recalls made public this morning by the National Highway Traffic Safety Administration, aka NHTSA, Ford Motor Company is also recalling numerous vehicles that have not been published by AutoInformed. These include recalls for windshield wipers, brake calipers, brake hoses, and towing trailer tail lights. In some cases millions of vehicles are involved. Continue reading

Posted in customer satisfaction, manufacturing, quality, recalls | Tagged , , , , , , , | Leave a comment

Ford Motor Recalling Bronco SUVs Again

Affected Bronco SUVs are equipped with 8-inch low-level SYNC infotainment screens and have had a previous Ford safety recall 22C27 performed. Information as to the applicability of this action to specific vehicles “can best be obtained by either calling Ford’s toll-free line (1-866-436-7332) or by contacting a local Ford or Lincoln dealer who can obtain specific information regarding the vehicles from the Ford On-line Automotive Service Information System (OASIS) database,” Ford said in the filing. Continue reading

Posted in customer satisfaction, recalls, safety | Tagged , , , , , , , | Leave a comment

American Honda Recalls 450,000 Vehicles for Bad Seat Belts

Registered owners of all affected vehicles will be contacted by mail and asked to take their vehicle to an authorized Honda dealer. The vehicles covered by the safety defect recall are: 2017-2020 model-year CR-V, 2018-2019 Accord and Accord Hybrid, 2018-2020 Odyssey, 2019 Insight, and 2019-2020 Acura RDX vehicles. Continue reading

Posted in customer satisfaction, manufacturing, quality, recalls, safety | Tagged , , , , , , , , | Leave a comment

Ford Recalls Steering on Bronco Wildtrak, Bronco Raptor

Ford’s Field Review Committee reviewed the concern and approved a recall on 3 March 2023. There have been no reports of accident or injury associated with this safety defect.However, owner notification letters are not expected to be mailed until 27 March 2023. Nexteer Automotive in Auburn Hills Michigan is the supplier of the steering gear. Continue reading

Posted in customer satisfaction, quality, recalls | Tagged , , , , , , , | Leave a comment

Higher US Electricity Rates Lowers EV Charging Satisfaction

“Whether you’re an automaker, dealer or utility company participating in the EV ecosystem, improving the EV owner experience with respect to home charging should be a common goal shared by all,” said Brent Gruber, executive director of the EV practice at J.D. Power. Continue reading

Posted in customer satisfaction, electric vehicles, people | Tagged , , , , , | Leave a comment

Stellantis €1.5B Share Buyback Program Starts Tomorrow

The buyback is  under the authority granted by the general meeting of shareholders held on 13 April 2022, up to a maximum of 10% of the Company’s capital, or any renewed or extended authorization to be granted at a future general meeting of the Company. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris. Continue reading

Posted in economy, financial results, mobility company, news analysis | Tagged , , , , , , | Leave a comment

Mazda Exporting US-made CX-50 to Mexico from Toyota JV

Mazda North American Operations (MNAO) today announced it has begun to export its US-assembled CX-50 crossover to Mexico, where it only has 18 years of operation. The CX-50 is assembled at Mazda Toyota Manufacturing (MTM), a joint venture in Huntsville, … Continue reading

Posted in economy, labor issues, manufacturing, milestones | Tagged , , , , , , | Leave a comment

Ford Motor Recalls 2023 Model Year Transit Vans

These vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 103, Windshield Defrosting and Defogging Systems, Ford said in the required NHTSA falling just made public. Ford said it is aware of 35 reports related to this safety defect received between 14 January 2023 and 11 February 2023. Continue reading

Posted in customer satisfaction, manufacturing, recalls, safety | Tagged , , , , , , | Leave a comment

Ford Axle Recalls on 2023 F-150, Expedition, Lincoln Navigator

The driver may hear a loud noise when the pinion breaks or as the drive shaft and flange hit the frame cross member and stability bar after pinion fracture. The failure mode could occur at any time in 4×4 application but is expected to occur primarily while in reverse as the pinion is subject to higher loads. Continue reading

Posted in customer satisfaction, manufacturing, quality, recalls | Tagged , , , , , , , | Leave a comment

Toyota Recalls ~130,000 Tundra, Tundra Hybrid Pickups

In the required NHTSA filing just released, Toyota said that field surveys investigating the tonneau cover securing joint and torque studies showed that there is a possibility that the torque values of some joints in the field are lower than the amount of torque required to compress the lock washer completely. Continue reading

Posted in customer satisfaction, recalls, safety | Tagged , , , , | Leave a comment

Nissan X-in-1 – Shared, Modular EV Components

“We make the most of our expertise and know-how from our more-than-a-decade long development and production of electrified technologies. Through our innovations in electrified powertrain development, we’ll continue to create new value for customers and deliver 100% motor-driven vehicles – EVs and e-POWER – as widely as possible,” said Senior Vice President Toshihiro Hirai, who leads powertrain & EV engineering powertrain development. Like all automakers, converting to EVs is an expensive process, potentially ruinous for shareholders. Continue reading

Posted in electric vehicles, environment, financial results, news analysis | Tagged , , , , , | 1 Comment

EV Servicing – First Power CSI Satisfaction Drop in 28 Years

You can sell EVs, but you can’t service them to the customer’s satisfaction. That’s the bottom line of the results in the J.D. Power 2023 U.S. Customer Service Index (CSI) Study,SM released today. The growing volume of battery electric vehicles (BEVs) being serviced at dealerships is having a negative effect on overall customer service satisfaction, resulting in a year-over-year decline in score for the first time in 28 years. Satisfaction with the service experience declines 2 points to 846 (on a 1,000-point scale) in this year’s study. Continue reading

Posted in connected vehicles, customer satisfaction, electric vehicles | Tagged , , , , | Leave a comment