Honda Q1 FY2024 Profits Double – Stock Split Coming

Posted on 10 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on Honda Q1 FY2024 Profits Double - Stock Split Coming

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Honda Motor (7267.T) more than doubled sales in North America during Q1 of the 2024 Japanese fiscal year as it posted an operating profit of  ¥394.4 billion (~$2.76 billion – Q1 2023 ¥222.2 b) in three months through June, with an Operating Margin of 8.5%.

The sales increase in North America boosted revenues in the automobile business by~26% as the Biden Administration economic recovery continued in the US for all automakers.* (AutoInformed: GM Posts Strong Q2 Results with $3.2B in Earnings; Toyota Posts Strong FY 2024 Q1 Results – $9.2 Billion Net; US Sales Lengthen Bidenomics Growth Streak in July) Continue reading →

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Cadillac Escalading the 2025 SUV EV Wars

Posted on 9 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on Cadillac Escalading the 2025 SUV EV Wars

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Cadillac (NYSE:GM) showed today its first-ever all-electric full-size SUV, the 2025 Escalade IQ, in New York City. It has a Cadillac-estimated 450 miles of range (footnote 1), Super Cruise driver assistance technology, bi-directional charging capability, different interior and exterior designs, and zero tailpipe emissions. The Power folding third row allows for seven total passengers and folds flat for more storage. The so-called eTrunk compartment under the hood has 12 cubic feet of storage. Pricing starts at ~$130,000 including destination charges. (AutoInformed: Vehicle-to-Home Bidirectional Charging Coming on All GM EVs)

“Escalade IQ raises the standard just as the original Escalade redefined luxury a quarter-century ago,” claimed John Roth, vice president, Global Cadillac. “This re-imagining of an icon marks the next step in Cadillac’s all-electric future.” Continue reading →

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UAW Publicly Pans Stellantis Contract Proposal

Posted on 9 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on UAW Trashes Stellantis Contract Proposal

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The UAW used social media last night to update members about the contract talks at Stellantis (formerly Fiat-Chrysler or FCA). Shawn Fain led of course with the oft used observation that “Stellantis just made $12.1 billion in net profits in the first half of 2023. Altogether, the Big Three have made $21 billion in profits in just the first six months of this year. That’s on top of the quarter-trillion dollars in North American profits they made over the last decade. While the Big Three executives have gotten rich off our labor, UAW members have been left behind.”

What followed was an update that appears to show that little to no progress is being made. The UAW contract expires on Sept. 14, and it covers 150,000 autoworkers at Ford, General Motors and Stellantis. Stellantis CEO Carlos Tavares’ compensation has increased 72% over the last four years, the UAW noted. Continue reading →

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Vehicle-to-Home Bidirectional Charging Coming on All GM EVs

Posted on 8 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on Vehicle-to-Home Bidirectional Charging Coming on All GM EVs

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General Motors (NYSE:GM) said today that it will expand vehicle-to-home (V2H) bidirectional charging technology across its retail portfolio of Ultium-based electric vehicles by model year 2026.

“GM Energy’s growing ecosystem of energy management solutions will help accelerate GM’s vision of an all-electric future by further expanding access to even more benefits that EVs can offer,” said Wade Sheffer, vice president, GM Energy. “By integrating V2H across our entire Ultium-based portfolio, we are making this groundbreaking technology available to more consumers, with benefits that extend well beyond the vehicle itself, and at broader scale than ever before.” Continue reading →

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Mazda Motor Q1 Sales Surge from Large SUVs

Posted on 8 August 2023 by Ken Zino

Mazda Motor Corp. (Tokyo 7261) said today that for the first three months of the fiscal year ending 31 March 2024 net sales amounted to ¥1,091.0 billion, an increase of ¥473.8 billion or +76.8% compared to the matching period in the previous fiscal year. Increased sales of the CX-60 and CX-90 in Europe and the US were largely responsible for the Q1 surge. Japanes sales also increased significantly.

Operating income amounted to ¥30.0 billion. (first three months of the previous fiscal year, operating loss was ¥19.5 billion.) Ordinary income amounted to ¥63.9 billion, an increase of ¥43.2 billion or +208.3%. Net income attributable to owners of the parent amounted to ¥37.2 billion, an increase of ¥22.2 billion or 148.3% compared to the previous fiscal year. Basic loss per share was 59.07 yen, compared to profit of 23.79 yen in the prior year. Continue reading →

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Zero Emissions – CARB Cal Fleet Advisor for Small Businesses

Posted on 7 August 2023 by Ken Zino
AutoInformed.com on CARB Phasing Out Diesels

Market incentives to clean the air instead of Koch Brothers campaign contributions to keep the air and politicians dirty.

The California Air Resources Board (CARB) and transportation nonprofit CALSTART  today said they are accepting applications for Cal Fleet Advisor, a free assistance program to help owners and operators of medium- and heavy-duty vehicles and fleets make the transition to zero-emissions. Heavy-duty trucks are the largest source of smog-forming nitrogen oxide emissions, and emit ~40% of the state’s particulate matter – despite being only about 7% of the vehicles in the state.

“The transition to zero-emissions transportation – and to cleaner air – means working collaboratively with the owners and operators who provide a critical service to California’s economy by transporting goods across the state,” said CARB Chair Liane Randolph. “Cal Fleet Advisor is an example of the innovative outreach and assistance that California has committed to provide to make a zero-emissions future a reality.” Continue reading →

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Hyundai Fire Recalls – Palisade, Tucson, Sonata, Elantra, Kona; Kia Soul, Sportage, Seltos

Posted on 7 August 2023 by Ken Zino

Hyundai Motor America (Hyundai) is recalling 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles. The electronic controller for the Idle Stop & Go oil pump assembly may contain damaged electrical components that can cause the pump controller to overheat, according to the require recalls documents released today by the National Highway Traffic Safety Administration (NHTSA). The recall also includes 2023 Kia Soul, Sportage, and 2023-2024 Seltos vehicles.

Owners of the ~98,000 defective vehicles are advised to park outside and away from structures until the recall repair is complete. Continue reading →

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Kia Hybrid Fire Recalls on Niro and Niro Plug-ins

Posted on 7 August 2023 by Ken Zino

Kia America is recalling 2017-2022 Niro and 2018-2022 Niro Plug-in Hybrid vehicles, according to documents released today by the National Highway Traffic Safety Administration (NHTSA). Fluid may leak into the printed circuit board inside the hydraulic clutch actuator, which can result in an engine compartment fire. More than ~121,000 Kia hybrids are affected. Illumination of the HEV warning light is an indicator.

Kia will instruct dealers to inspect the HCA and replace, if necessary. Kia will also install a new HCA fuse with one of a higher capacity to mitigate the potential risk of fire caused by an electrical short circuit. Kia will reimburse owners for repair expenses already incurred. Continue reading →

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Red Hot and Red Flagged – IndyCar at Nashville

Posted on 7 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on Red Hot and Red Flagged - IndyCar at Nashville

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With hot and humid conditions in downtown Nashville during an 80-lap race that was remarkable for its lack of yellow flags – which is why it’s called Crashville* by racers – Kyle Kirkwood driving a Honda** won 2023 at the Big Machine Music City Grand Prix.

There were tire marbles all over the course just off the racing line because of the amount of green flag laps. “It was like going on ice,” said Felix Rosenqvist, (No. 6 Chevrolet) at Arrow McLaren. As a result, the pre-race strategies of all the teams were worthless. Moreover, there was a red flag followed by a three-lap sprint to the checkered flag. Another factor in the sweltering heat was the use of cool suits. Continue reading →

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UAW Wants 40% Wage Increase in 2023 Contract Negotiations

Posted on 3 August 2023 by Ken Zino

UAW President Shawn Fain met with UAW members on Facebook Live last night and laid out the members’ demands in Big Three bargaining. UAW members are thinking big and the Big Three can afford it. Ford, General Motors and Stellantis made a combined $21 billion in profits in just the first six months of this year. That’s on top of the quarter-trillion dollars in North American profits that the Big Three made over the last decade.

“Record profits mean record contracts,” Fain said. “Yes, we’re demanding double-digit pay raises. Big Three CEOs saw their pay spike 40% on average over the last four years. We know our members are worth the same and more.” Continue reading →

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World Debut of the Acura ZDX at Monterey Car Week

Posted on 3 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on World Debut of the Acura ZDX at Monterey Car Week

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Acura said today that the world debut of the all-electric 2024 ZDX will be on 17 August during the Monterey Car Week. Acura will also launch with a ZDX Type S performance variant. The ZDX will be the first production model to use  styling themes of the new Acura design direction introduced last year during Monterey Car Week in the form of the Acura Precision EV Concept. (AutoInformed: ZDX and Type S To Be Acura’s First Pure EVs in 2024; GM, Honda to Develop New EVs for Sale in 2027; Honda Prologue EV – Vapor Ware Until 2024)

 “Acura’s unyielding commitment to delivering on the Precision Crafted Performance brand promise will continue in the electrified future, exemplified by Type S models that put the driver experience first,” said Emile Korkor, assistant vice president of Acura National Sales. “As the most powerful and quickest accelerating SUV in the brand’s history, the ZDX Type S will deliver on this promise and bring an exhilarating driving experience to the electric vehicle market.” Continue reading →

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EPA Rejects Alabama Coal Ash Management Plan

Posted on 3 August 2023 by Ken Zino

The US Environmental Protection Agency today released a proposed denial of Alabama’s permit program to manage coal combustion residuals – CCR or coal ash – in landfills and surface impoundments. This is the first proposed denial of a state coal ash* permit program. Three others have been approved in Georgia, Oklahoma and Texas. EPA maintains that the Alabama permit program is significantly less protective of people and waterways than federal regulations require.**

“Exposure to coal ash can lead to serious health concerns like cancer if the ash isn’t managed appropriately,” said EPA Administrator Michael S. Regan. “Low-income and under-served communities are especially vulnerable to coal ash in waterways, groundwater, drinking water, and in the air. This is why EPA works closely with states to ensure coal ash is disposed of safely, so that water sources remain free of this pollution and communities are protected from contamination.” Continue reading →

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Former Nikola and GM Engineer Joins Volkswagen of American

Posted on 3 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on Former Nikola and GM Engineer Joins Volkswagen of American

Lyndon Lie.

Volkswagen of American said today that Lyndon Lie is now Chief Engineering Officer. He will oversee the development and launch of future VW vehicles in the North American Region. Lie will be based in Chattanooga, TN. He has  vehicle engineering experience in the design, development and launch of multiple battery electric vehicles (BEVs), as well as developing and launching advanced driver assistance systems. (AutoInformed: VW Patents High-Speed Wireless EV Charging System)

“Lyndon brings incredible experience to the Volkswagen brand, which will help us achieve our goal of growing our market share across North America in this decade,” said Pablo Di Si, President and CEO, Volkswagen Group of America. “Designing and engineering our vehicles to meet the unique needs of our markets is more critical than ever before. To achieve this, we continue to take proactive steps to strengthen our capabilities and experience within the North American market.” Continue reading →

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US Sales Lengthen Bidenomics Growth Streak in July

Posted on 3 August 2023 by Ken Zino

US Light Vehicle sales totaled 1.30 million units in July, according to GlobalData.* The annualized selling rate increased from 15.7 million vehicles a year in June, to 15.8 million in July. July’s daily selling rate was estimated at ~52,200 vehicles per day, compared to 53,000 in June. According to early estimates, retail sales totaled around 1,076,000 units, while fleet sales accounted for approximately 228,000 units, representing around 17.5% of total sales.

“At the risk of sounding like a broken record, July continued the trends that we have observed for several months now. As vehicle availability has improved, sales have grown, and the economy remains sufficiently strong to support the market’s activity, despite high transaction prices, rising interest rates and fears of a recession later in the year or in 2024,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading →

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First Look – Automobili Pininfarina PURA Vision

Posted on 2 August 2023 by Ken Zino
Ken Zino of AutoInformed.com on First Look - Automobili Pininfarina PURA Vision

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Automobili Pininfarina* today in the Cambiano part of Turin introduced its PURA Vision design concept of an electric luxury vehicle – e-LUV in marketing babble. The new design concept will inspire the next generation of Automobili Pininfarina’s pure electric luxury vehicles and will make its public debut at Monterey Car Week in August, where it will appear alongside the recently revealed Battista Edizione Nino Farina hyper GT and another new production vehicle.

“PURA Vision is the bridge from our present to an exciting new chapter in the history of Automobili Pininfarina. In our fifth year, we have already celebrated our unique heritage with the introduction of the Battista Edizione Nino Farina. PURA Vision previews an exciting future and shows what can be achieved if we apply our PURA design principles to an entirely new kind of vehicle,” said Paolo Dellachà, Chief Executive Officer for Automobili Pininfarina. Continue reading →

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