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Category Archives: results
GM Earns $4.3 Billion in Q3 2022
“This keeps us on track to deliver our third consecutive year of full-size pickup leadership, and our 22nd year as the full-size SUV leader. To build our truck leadership and help maintain our strong margins, Chevrolet and GMC recently unveiled new mid-size and heavy-duty pickups that will launch next year,” said GM chair and CEO Mary Barra. Continue reading
Posted in economy, electric vehicles, financial results, news analysis
Tagged auto industry commentary, autoinformed.com, bolt, cruise, GM, GM Q3 2022 earnings, Ken Zino
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Renault Group Q3 – 20% Increase in Revenue at €9.8B
The Group’s orders in Europe remains at an historic level – the same in volume compared to the end of June. Renault Group also confirmed its 2022 financial outlook*, which will probably meet with analyst skepticism given the ongoing economic crisis in Europe and the negative global effects of Putin’s war against Ukraine. Balancing this is a renegotiation of the Alliance with Nissan, which could bring Renault ~$3.3 billion if it cuts it stake to 15% from 43%. Continue reading
Statistical Quirks Show September EU Car Sales up 10%
This is really a mathematical quirk since the “increase” came from a low base of comparison from September 2021, when the semiconductor shortage hindered vehicle production. This is an economic calamity because 12.7 million Europeans work in the auto industry, directly or indirectly, comprising 6.6% of all EU jobs. Moreover, 11.5% of EU manufacturing jobs, ~3.5 million, are in the automotive sector. Motor vehicles are responsible for €398.4 billion of tax revenue for governments within key European markets. Continue reading
Posted in economy, sales
Tagged acea, auto industry commentary, autoinformed.com, EU Passenger car sales, Ken Zino
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Global Light Vehicle Sales Fall in September
However, LMC noted that notwithstanding a reduced global selling tempo, China’s market remained “robust with year-to-date growth of 8.0%. North America and Europe, however, both experienced a sharp decline in their selling rates as supply issues continued to affect these markets.” Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, JATO Dynamics, Ken Zino, lmc automotive, oxford economics
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CARB settles with FCA for $5.6M on Air Quality Violations
FCA cooperated with CARB to resolve all allegations of violating Motor Vehicle Pollution Control Devices regulations. FCA’s settlement includes a $2.8 million civil penalty that will go to CARB’s Air Pollution Control Fund, which provides funding for projects and research to improve California’s air quality. Continue reading
Nissan to Exit Russian Market. Maybe
The sale is expected to be formalized in the coming weeks following approvals from the authorities, which sure looks inevitable since it’s being sold to the Russian government. The terms of the sale are hedged. It would allow Nissan the option to buy back the entity and its operations within the next six years. It’s the latest example of global automakers shutting operation in a totalitarian state. Will China be next? Continue reading
Rivian Recalls 2022 Vehicles for Suspension Failures
The fastener connecting the front upper-control arm and steering knuckle may have been improperly tightened on 12,212 vehicles. An improperly torqued steering knuckle fastener could cause excessive wheel camber or a separation, affecting the driver’s ability to control the vehicle, and thereby increasing the risk of a crash. Continue reading
Posted in customer satisfaction, manufacturing, recalls, safety
Tagged auto industry commentary, autoinformed.com, EDV, Ken Zino, nhtsa, R1S, R1T, revian recalls
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Western Europe Car Sales Plunge in September
Although supply constraints are still dictating the pace of vehicle sales, demand is also being eroded by low consumer confidence, high inflation, rising energy prices and contractionary monetary policy. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, european car sales, Ken Zino, lmc automotive
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NADA Cautious on 2022 US Light Vehicle Sales Outlook
However, September 2021 was the weakest since May 2020, because of pandemic induced supply chain disruptions and parts shortages, which resulted in the lowest saleable inventory for more than three decades. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, lmc automotive, nada, Patrick Manzi
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Ford Motor US September Sales Drop 9%
However, Ford is notching some low-volume victories, which might bode well, if – big if – it can transition from its internal combustion engine legacy vehicles – the heart of Ford Motor – while successfully surviving without missing a beat a transplant to an all-electric future. Continue reading
Posted in economy, news analysis, sales
Tagged Andrew Frick, auto industry commentary, autoinformed.com, ford motor sales, Ken Zino
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American Honda Sales Escape Summer Doldrums
In fact, like the former Detroit Three automakers, Honda is thriving on trucks. Honda light truck sales continue to lead the Honda brand with CR-V topping 22,000 units and HR-V more than 8,000 in sales. The Ridgeline also set a new September record. Continue reading
Posted in news analysis, sales
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Toyota Motor North America September US Sales Up 17%
Toyota Motor North America (NYSE:TM) today reported US September 2022 sales of 179,050 vehicles, up 17.1% on a volume and daily selling rate (DSR) basis compared to September 2021. September 2022 sales of electrified vehicles totaled 35,419, representing nearly 20% … Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, Jack Hollis, Ken Zino, TMNA
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GM Q3 US Sales Up 24%
Three of GM’s vehicle brands posted double-digit total sales gains, with Chevrolet up 30%, GMC up 24% and Cadillac up 50%. GM also claimed ~3-point improvement in retail market share year over year (J.D. Power PIN data), as well as “significant sales gains” in the commercial fleet segment. Continue reading
Posted in economy, manufacturing, news analysis, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, Steve Carlisle
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Another Kia Sportage Recall for Fires in ABS System
Kia “strongly urges owners of these vehicles to park their cars outside and away from homes and other structures until their vehicles have been repaired.” Continue reading →