Category Archives: results

July US Light Vehicle Sales Still Stalled

“July sales were slightly behind the June volumes, but not all OEMs were that stable. GM lost more than 20,000 units, and it was outsold by Toyota for the first time since January. On the positive side, Ford, Mazda and Toyota gained the most volume from June. Toyota remained the bestselling brand, but its lead over Ford shrank considerably this month. Continue reading

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Renault Group: Sales Drop, Revenues Even, Margins, Profits Up

“These first half results are a proof of this: despite all the headwinds related to the stop of the activity in Russia, the semiconductor crisis and cost inflation, the Group continues to improve its operating performance and is beginning to benefit from the success of new launches,” Renault Group said. Continue reading

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Stellantis: Record First Half 2022 at €8.0 Billion Net Profit

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA), the mega merger of  FCA and Peugeot, posted record profitability during the first half or 2020 because of increasing sales of low emission vehicles (LEV), which include battery electric (BEV), plug-in hybrid (PHEV) and fuel cell electric vehicles. Stellantis said it ranked second in the EU30 market for BEV and LEV sales) and third in the U.S. market for LEV sales. Stellantis’ global BEV sales were up nearly 50% y-o-y to 136k units in H1. The Company now offers 20 BEVs, with an additional 28 BEVs to be launched through 2024. Continue reading

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Ford Motor Posts Good Earnings But Weak Net Income

However, Ford’s net income was $667 million, a margin of 1.7%, which included a mark-to-market loss of, gulp, $2.4 billion on Ford’s stake in Rivian. Ford is also in the process of slashing costs under its latest restructuring plan, but refused to comment on pending job cuts, which are being reported as around 8000, only to confirm that there are too many people employed at Ford. Continue reading

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US July Sales Forecast Down. Prices, Profits Still Records

Total new-vehicle sales for July 2022, including retail and non-retail transactions, are projected to reach 1,159,700 units, a 5.7% decrease from July 2021. Comparing the sales volume without adjusting for the number of selling days translates to a decrease of 9.2% from 2021. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.7 million units, down 0.9 million units from 2021. Continue reading

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NHTSA: Investigation on Sudden Bronco Engine Failures

It the latest example of ongoing Ford Motor quality problems and safety defects. Ford said during the Bronco introduction: “The all-new Bronco® two- and four-door traditional midsize SUVs represent the flagship models for the Built Wild™ Bronco brand and are ready to deliver thrilling off-road experiences with their heritage-inspired style, rugged engineering and smart off-road technology.” Continue reading

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GM Q2 Earnings at $2.3B Off -$1.1B YoY

This was a significant drop of $1.1 billion in a year-over year comparison as net pricing increases, strong demand and more upscale vehicle sales were more than offset by disrupted production, increased costs and lost sales (90,000 built but not complete?) from lean inventories especially in June. In a word – semiconductors. Continue reading

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GM and LG Chem Have Deal on Battery Materials

The supply agreement – the latest in the EV battery ‘gold rush’ – will help GM meet its growing EV production needs. CAM is a key battery material consisting of components such as processed nickel, lithium and other materials representing about 40% of the cost of a battery cell. Continue reading

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Blinded: More Software Recalls from Mercedes-Benz, Toyota

There’s irony in the ongoing automotive hardware safety problems that are caused by a software infection. In the latest two examples of expensive, normally robust machines by Mercedes-Benz and Toyota have vision systems that are subject to the safety-defect recalls that were publicly revealed today by The National Highway Traffic Safety Administration. Continue reading

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Aston Martin: 100th anniversary of First Grand Prix in France

Ahead of Sunday’s Grand Prix, four-time F1® world champion Sebastian Vettel drove TT1 – warmly nicknamed ‘Green Pea’ – around Circuit Paul Ricard, 100 years after the celebrated car took to the road circuit of Strasbourg for a 60-lap, 800 km race as one of two Aston Martin entries. Continue reading

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J.D. Power: Gasoline Powered Vehicle Satisfaction Drops

However, high gas prices have led to a noticeable decrease in fuel economy/range satisfaction among owners of gas-powered vehicles, according to the J.D. Power 2022 U.S. Automotive Performance, Execution and Layout (APEAL) Study released today. The gap between economy/range is only 7 points on a 1,000-point scale. Continue reading

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Hot, Fast Company: Penske Automotive Increases Dividend 6%

Penske Automotive Group, Inc. (NYSE: PAG) – an international transportation services company, a significant force among premier auto and commercial truck retailers, and a successful racing organization – today announced that its Board of Directors has increased the  dividend by $0.03 per share. Continue reading

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All Porsche Taycan EVs Can be Upgraded to 2023 Specs

“This campaign will allow our customers to benefit from the continuous further development of the Taycan. We have extensively optimized the model series in almost every respect since 2019,” said Kevin Giek, Vice President Model Line Taycan. Continue reading

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VW Group Changes EV Strategy, Leadership in North America

Scout will launch all-electric pick-up trucks and SUVs in the U.S. market. Volkswagen, of course, has been haunted for years by its deliberate cheating on deadly diesel emissions levels by using defeat software on EPA compliance tests that made the diesels look compliant when they were far from it*. VW did not say anything about the name Scout, of International Harvester fame, the name it acquired as part another business deal back in 2021. Continue reading

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Detroit Auto Show Links with Wayne State University in 2022

“Students will be directly engaged with the show, managing and completing a demographic study of the various audiences that the show attracts. We are also delighted that the Mike Ilitch School of Business is hosting a mobility conference in association with the Public Show,” said Rod Alberts, Executive Director of the Detroit Auto Show. Continue reading

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