Category Archives: transportation

Hydrogen – Plug Power Energy Gets $1.6B Loan Guarantee

“Advancing clean hydrogen is a key component of the Biden-Harris Administration’s whole-of-government approach to building a robust clean energy economy that creates healthier communities, strengthens energy security, and delivers new economic opportunities across the nation. Today’s announcement will help unlock the full potential of this versatile fuel and support the growth of strong, American-led industry that ensures the United States remains at the forefront of the global economy for generations to come,” said Jigar Shah, Director of the Loan Programs Office. Continue reading

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Norfolk Southern Settles East Palestine Derailment with EPA

“No community should have to experience the trauma inflicted upon the residents of East Palestine,” said EPA Administrator Michael S. Regan. “That’s why President Biden pledged from the beginning that his Administration would stand with the community every step of the way. Today’s enforcement action delivers on this commitment, ensures the cleanup is paid for by the company, and helps prevent another disaster like this from happening again. Because of this settlement, residents and first responders will have greater access to health services, trains will be safer, and waterways will be cleaner,” Regan said. Continue reading

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Biden Administration Chinese Trade War Tariffs Start August 1

“Today, I am following through on my commitment to stand up to the People’s Republic of China’s unfair trade practices by issuing a formal proposal to modify the tariff actions,” said Ambassador Katherine Tai. “The President has directed me to make substantial tariff increases on targeted, strategic products, and this is an important step to carry out that vision. The President and I will continue to fight for American workers, and for our economic future and national security.” Continue reading

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Chinese EV Trade War Commences

The Biden Administration has announced today that it will increase tariffs under Section 301 of the Trade Act of 1974 passed overwhelmingly under the Republican President Gerald Ford administration on $18 billion of imports from China to protect American workers and businesses.

“The President’s actions reflect the conclusions of U.S. Trade Representative Katherine Tai’s mandatory four-year review that China continues to engage in unfair practices, such as forced technology transfer and restrictions and intellectual property theft from U.S. companies,” media were told on a background briefing by National Economic Advisor Lael Brainard and Senior Administration Officials. Continue reading

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Annals of Marketing – Audi Electric Mountain Bike

Audi of America said this morning that it will increase its range of e-mobility products with the launch of a limited-edition enduro-style electric pedal assist mountain bike – dubbed eMTB – powered by Fantic. It becomes available through Audi Genuine Accessories by the summer of 2024. The Audi eMTB has livery said to be inspired by the design of Audi’s electrified Dakar Rally-winning RS Q e-tron race car. Audi eMTB at ~$9795 comes from a deal with Italian motorcycle and e-bike manufacturer Fantic based upon its XEF 1.9 Factory enduro e-bike. Continue reading

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Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump

Mercedes-Benz Group AG (MBG.DE) has reported Group Earnings Before Interest and Taxes (EBIT) of €3.9 billion (Q1 2023: €5.5 billion) a surprising drop of -25% but in line with struggles at European-based Volkswagen Group and Stellantis. Continue reading

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Penske Automotive Group 2024 Q1 Earnings Drop

“Our retail automotive service and parts revenue grew 9% to a quarterly record of $746 million. During the quarter, we experienced a recovery across our used vehicle retail automotive operations with profitability improving sequentially by $428 per unit retailed. Further, I was pleased with our focus on controlling costs as selling, general, and administrative expenses as a percentage of gross profit improved by 30 basis points sequentially to 70.7%,” said Roger Penske Chair and CEO. Continue reading

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NHTSA Makes Automatic Emergency Braking Mandatory

“The new vehicle safety standards we finalized today will save hundreds of lives and prevent tens of thousands of injuries every year,” said U.S. Transportation Secretary Pete Buttigieg. “The Bipartisan Infrastructure Law is not only making historic investments in transportation, but it’s also ushering in a new era of safer travel by ensuring new cars and light trucks are equipped with automatic emergency braking, making our roads safer for drivers and pedestrians alike.” Continue reading

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Badass UAW Bargaining Committee Gets Record Daimler Deal

“Tonight, I’m in Charlotte, North Carolina, and I am honored to be joined by the badass bargaining committee representing over 7000 members at Daimler Truck North America,” Fain said. “We’re here tonight to announce a major victory for the members who build Freightliner and Western Star trucks and Thomas Built buses. Today, we reached a tentative agreement with Daimler. What started thirty-two years ago this month at the Mt. Holly plant, when the courageous 17-day strikers stood up and won a historic, first of its kind agreement, has come full circle. Continue reading

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UAW Live – Hours Before Daimler Truck Contract Expires

UAW President Shawn Fain, alongside the UAW Daimler Truck North America Bargaining Committee, will address Daimler workers and allies on Facebook Live just hours before the contract for more than 7000 UAW workers expires at midnight. Continue reading

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Baltimore Bridge – Japanese, Korean, German Makers at Risk

“Japan, Korea and Germany are the main origins for vehicles entering the US market, so brands with heavy production concentrations in those locations have the potential to be impacted more significantly, especially those in Europe,” said the GlobalData* consultancy. “It is no surprise that Hyundai and Toyota were the top importers, though General Motors (GM) was the third largest, with vehicles coming from Korea and China. VW Group is among the top 5 importers, while BMW, Mercedes-Benz, Volvo and Stellantis are also exposed to potential disruption.” Continue reading

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Heavy-Duty Emissions Standards – Missed Opportunity?

“The final rule also leaves more work to be done, and state legislatures should spur use of electric and other zero-emission trucks by adopting the Advanced Clean Truck rule. By delaying the final standards for sleeper cabs until model year 2030 vehicles, EPA missed out on the additional climate and health benefits that would have started accruing much earlier from some of the highest-polluting vehicles on the roads. Continue reading

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Greenhouse Gas Standards for Heavy-Duty Vehicles Set

The U.S. Environmental Protection Agency today announced final national greenhouse gas pollution standards for heavy-duty vehicles for model years 2027 through 2032 – the “Greenhouse Gas* Emissions Standards for Heavy-Duty Vehicles – Phase 3.” Trucks and other heavy-duty vehicles are central to the economy by moving goods and freight as well as providing services for industry, transit, among other sectors. Heavy-duty vehicles account for 25% of all greenhouse gas emissions from the transportation sector, which is itself the single largest source of greenhouse gas emissions in the United States. Under these new standards, the heavy-duty industry is expected to realize annualized savings of $3.5 billion compared to annualized costs of about $1.1 billion from 2027 through 2055 Continue reading

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Bidenomics – Fiscal Policy Increased Car Sales During 2020

“In the months following the outbreak of COVID-19, Economic Impact Payments and the Paycheck Protection Program provided fiscal support to households and businesses,” said the Hutchins Center on Fiscal and Monetary Policy at Brookings this week, citing a new research paper on Economic Incentive Programs (EIPs) during the early years of the Biden Administration economic recovery.

Using data on motor vehicle sales and the Consumer Expenditure Survey, Jack Dunbar of the University of Pennsylvania and co-authors Christopher Kurz, Geng Li and Maria D. Tito find that these policies boosted new car sales by 12% in 2020, or 1.75 million cars. They also find that the increase in sales caused by the fiscal programs accounted for 70% of the declines in inventory through 2021. The stimulus-induced demand, which coincided with supply constraints that reduced inventories, accounted for 20% of the increase in vehicle prices compared to pre-pandemic pricing. Continue reading

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March US Vehicle Sales Up. Record Q1 Consumer Spending!

Total US new-vehicle sales for March 2024, are projected to reach 1,525,700 units, a 12.1% increase from March 2023, according to a joint forecast today from J.D. Power and GlobalData.* The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16.4 million units, up 1.6 million units from March 2023. New-vehicle total sales for Q1 2024 are projected at 3,830,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days as the Biden Administration recovery continues.

New-vehicle retail sales for March 2024 are also expected to increase when compared with March 2023. Retail sales of new vehicles are forecast at 1,225,000 units, a 10.7% increase from March 2023. New-vehicle retail sales for Q1 2024 are projected at  3,066,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days. Continue reading

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