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US Light Vehicles Sales in January 2023 Weak at 1 Million
The usual problems remain – record high transaction prices, economic uncertainty, the Federal Reserve’s determination to send the economy into a recession via its ongoing interest rate increases, skimpy inventory caused by supply chain disruptions for some major automakers, notably Ford and Toyota – all make for a rerun of the flop show Pandemic Blues. So good luck reopening that show in 2023 with the same cast and plot. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc automotive, nada, Patrick Manzi
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Acura, Honda Takata Airbag Recall Upgraded to Do Not Drive
The National Highway Traffic Safety Administration, aka NHTSA, urges vehicle owners to immediately check to see if their vehicle has an open Takata air bag recall. If it does, owners need to contact their dealership or Acura/Honda customer service to schedule a FREE repair as soon as possible, as well as free towing or mobile repair. Free loaner and rental vehicles are also available, if needed. Continue reading
Ford Misses Q4 and Full Year 2022 Forecasts. Loses $2B
Nevertheless, Ford declared a regular dividend of 15 cents per share, plus supplemental dividend of 65 cents per share, enabled in part by the “nearly complete monetization of stake in Rivian Company.” Ford anticipates full-year 2023 adjusted EBIT of $9 billion to $11 billion and adjusted free cash flow of about $6 billion. Continue reading
Annals of Marketing – GM and Netflix Promoting EVs
“Entertainment has a huge impact on culture. We want to make EVs famous on streaming, small and silver screens to build an EV culture through storytelling that incorporates the experiences of driving and owning an EV,” said GM Global Chief Marketing Officer Deborah Wahl. Continue reading
Ford Offers Free Pickup, Delivery and Mobile Service To All
The nationwide program is part of Ford’s commitment to improve the ownership experience by providing convenient, seamless options for vehicle service, from simple oil changes to recall repairs. Recalls have been infecting Ford Motor products for years. During 2022, Ford Motor led all makers in recalls with 67 totaling more than 8.6 million vehicles, according to the National Highway Traffic Safety Administration. No word on when or if Lincoln Dealers will participate. Continue reading
Almost Autonomous – Mercedes-Benz 2024 S‑Class, EQS?
If Mercedes is able to deliver model year 2024 Mercedes‑Benz S-Class and EQS Sedans late in 2023, then its optional DRIVE PILOT system would be the first and perhaps the only SAE Level 3 system in a standard-production vehicle authorized for use on US public freeways. Mercedes‑Benz also aspires to expand to California later this year with the certification documents already filed with state authorities. General Motors, among other automakers, is also actively pursuing autonomous vehicles. Several GM brands are partially there already with its Super Cruise system. Continue reading
January US Vehicle Sales Up as Transaction Prices Hit Record
The record transaction prices means that buyers are on track to spend nearly $39.9 billion on new vehicles this month, the highest level ever for the month of January, an increase of 2.4% from January 2022 despite the Federal Reserve’s efforts to send the US into a recession. The looming Republican creation of a depression over the deficit, aka Congressional contract hit on America II, remains ominous. Continue reading
Death of the Diesel – EPA Fines Genesee & Wyoming Railroad Services
GWRSI estimates that the company will spend approximately $42 million to comply with the consent decree requirements which will reduce NOx emissions from its locomotives by approximately 469 tons per year and particulate matter emissions by 14 tons per year. As these things go, this appears to be an amiable settlement to AutoInformed. Continue reading
Corporate Climate Change – Honda Reveals Reorganization
Today’s announcement concerns the restructuring of Regional Operations and Corporate Functions, as well as the creation of what is called “Electrification Business Development Operations.” EBDO is an outgrowth of the Business Development Operations established last April to strengthen electrification business. Continue reading
Volvo Car USA Recalls all 2023 Models for Software Bug
Volvo Car USA is recalling all 2023 S60, V60, V60CC, V90CC, XC60, XC90, XC40, and C40 vehicles because of a computer code error the Brake Control Module 2 (BCM2) may cause a loss of the Antilock Brake System (ABS), Electronic Stability Control (ESC), and the traction control system. A certain diagnostic test case that checks the grounding may put the BCM2 in a faulty state potentially resulting in a loss of brake support functions. Continue reading
Milestones – Honda Makes 30 Millionth US Vehicle
This was a significant move at the time since Honda was the first Japanese automaker to produce cars in the US. It arguably forced Toyota and Nissan and other offshore makers to follow. Since then, Honda has invested $16 billion in Honda US manufacturing facilities for auto and associated components for autos. During 2022, more than two-thirds of all Honda and Acura vehicles sold in America were made in the US. Continue reading
Current Flows – J.D. Power Now Tracking EV Parity
Today, the EV Index score is 47 (based on the most recent available data from November 2022), with some categories improving and others declining during the 12-month pilot period. The EV Index score and accompanying analysis will be available monthly. The index is of use to people who are considering purchasing, one of the reasons AutoInformed uses it. Continue reading
December Global Light Vehicle Sales at 82M Down Again
China’s market was a major culprit with its sluggish end to 2022 . In China December raw sales were down almost 12% year-over-year (YoY), which LMC attributed to increased disruption and uncertainty with the abrupt ending to the zero-Covid policy. North America and Europe showed positive YoY growth for December, although both remained below their 2021 sales, -7% and -11% respectively. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, December global sales, Ken Zino, lmc, oxford economics
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January 2023 Western EU Passenger Vehicles Sales Plunge
LMC noted that the 2022 year‐end had a stronger selling rate in part due to legislation changes pulling forward sales. However, in monthly registration terms, January 2023 was up 9.8% year‐on‐year (YoY), at 810k units. Continue reading →