Honda Halting Lawn Mower Production in US

Ken Zino of AutoInformed.com on Honda Halting Lawn Mower Production in US

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Honda North Carolina Manufacturing (NCM) in Swepsonville today started making the FourTrax Rancher all-terrain vehicle (ATV). NCM will become the sole production source for Honda ATVs in North America, joining with Honda South Carolina Manufacturing (SCM) in Timmonsville, SC, which is the only facility in the world to build Honda side-by-sides. NCM will produce Honda FourTrax and TRX series ATV models.*

Significantly, by the end of September, NCM will discontinue production of gasoline lawnmowers “due to market forces” such as stricter environmental regulations and shifting customer preferences to become the sole producer of Honda ATVs in North America,allowing SCM to expand Honda side-by-side production of Pioneer and Talon sports models. (AutoInformed: Honda to Abandon IC Engines – Global Electrification by 2040; CARB Fines Honda Motor for Small Engine Emissions) Continue reading

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Tesla – Solid Q2 with Higher Production and Lower Prices but…

During Q2 2023 Tesla (NASDAQ: TSLA) made  ~480,000 vehicles and delivered more than 466,000, the highest to date. As a result, Q2-2023 looked solid with Tesla setting its production and deliveries among its top five quarters. The result was revenue approaching $25B in a single quarter. Net revenue was $2.7 billion. However, analysts remain skeptical about what many of them say is a greatly overvalued stock that pays no dividends.  During the past year a share of TSLA stock has ranged from ~$102 to $315. It’s currently trading ~$260. (AutoInformed: Ford Cuts F-150 Lightning Prices by $6000 to $10,000)

“Our operating margin remained healthy at approximately 10% [9.6%], even with price reductions in Q1 and early Q2. This reflects our ongoing cost reduction efforts, the continued production ramp success in Berlin and Texas and the strong performance of our Energy and Services & Other businesses,” Tesla said. Continue reading

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Consumer Rights Nil in New Autonomous Vehicle Bills?

The Innovation, Data, and Commerce Subcommittee of the House Committee on Energy and Commerce will look at autonomous vehicle regulations during a 26 July hearing called “Self-Driving Vehicle Legislative Framework: Enhancing Safety, Improving Lives and Mobility, and Beating China.” Previous versions of the Bill were sponsored by Republicans but went nowhere. This time the subcommittee will consider separate draft legislation from Representative Bob Latta, a Republican from Ohio, and Representative Debbie Dingell, a Democrat from Michigan. NHTSA is also in the process of looking at self-driving vehicle regulations.* 

The Center for Auto Safety says one of the proposals, the SELF DRIVE Act, “neglects to include any consumer protections that prevent the use of binding arbitration clauses in contracts involving autonomous vehicles.” As is common in Washington the legislation is misleadingly named. However, there is a need to explore the issue as there are arguments on many aspects of technology and systems that can save lives and reduce traffic congestion even though AutoInformed remains skeptical about the ability of politicians to do so with a regard for We the People as opposed to We the Congress who are paid large sums by corporate interests. Continue reading

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Milestones – 40M Engines Built at Nissan Yokohama Plant

Ken Zino of AutoInformed.com on Milestones - 40M Engines Built at Nissan Yokohama PlantThe Nissan Yokohama Plant has built 40 million engines in 2023 – the same year Nissan celebrates its 90th anniversary. Yokohama opened in 1935, two years after Datsun’s (Nissan after 1986) founding. It was bombed in the Doolittle Raid in April of 1942 and Japan’s second largest city was almost completely destroyed in subsequent WW2 bombings. Yokohama was making trucks for the Japanese Imperial Army at the time.

Yokohama built its 10 millionth engine in 1976, its 20 millionth in 1986 and its 30 millionth in 1997. With the launch of the all-electric LEAF in 2010, the plant has also been producing electric motors, including those for e-POWER vehicles such as the Nissan Note. During the Japanese fiscal year 2022, motors accounted for approximately 40% of Yokohama Plant’s production. Continue reading

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Stellantis, Saft Show Battery Integrating Inverter and Charger

Ken Zino of AutoInformed.com on Stellantis and Saft Show Battery Integrating Inverter and Charger

The charger and investor atop the motor are absent in the prototype system.

Stellantis (NYSE: STLA / Euronext Paris: STLAP) and Saft* engineers and researchers announced today in France a prototype energy storage battery that integrates the inverter and charger functions. Integrating the inverter and charger creates a battery that is more efficient, which enhances electric vehicle range and is more reliable and less costly. It also increases space in the vehicle.

“Our journey to electrification is fueled by innovation and research excellence that uses the latest technology to address the real needs of our EV customers such as range, roominess and affordability while reducing carbon footprint by improving efficiency,” said Ned Curic, Stellantis Chief Engineering & Technology Officer. “This revolutionary battery system could mark a decisive step in Stellantis’ commitment to provide useful, easy and advanced technology to all.” Continue reading

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Repair Shop Owner Sentenced to Prison for False Tax Return

A New Jersey man was sentenced yesterday to one year and one day in prison for filing a false corporate income tax return with the IRS, the Department of Justice said. Gabriel Ferrari of Edison, New Jersey, owned and operated Buses and Trucks, Inc., an automotive repair business in Linden, New Jersey.

In 2011, Ferrari used business funds to pay for personal items, including gambling on horse races. Ferrari concealed this diversion of business income by not disclosing it to his return preparer, thus causing the preparation and filing of a false corporate tax return. Furthermore, Ferrari did not pay employment taxes in the amount of $291,600 based on an unreported cash payroll, according to court documents. Continue reading

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Penske Automotive Group Ups Dividend Again

Ken Zino of AutoInformed.com on Penske Automotive Ups Dividend, Will Buyback More Shares

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Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company as well as a notable global automotive and commercial truck retailer, today announced that its Board of Directors has increased the Company’s quarterly dividend by $0.06 per share, or 9%, to $0.72 per share. The dividend is payable September 1, 2023, to shareholders of record as of August 10, 2023. PAG Q2 earnings will be announced next week.

We are pleased to provide an increase in the cash dividend to our shareholders,” said Penske Automotive Group President, Robert Kurnick, Jr. “Continued strong cash flow, a healthy balance sheet, and the strength of our operations enables us to increase the dividend and reward our shareholders.”  Continue reading

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EU – EVs Outsell Diesel Cars for First Time

Ken Zino of AutoInformed.com on EU - EVs Outsell Diesel Cars for First Time

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In June 2023, the EU car market grew by 17.8% to 1 million registered units, according to ACEA,* the trade group that represents automakers, said this morning. Except for Hungary (-1.4%), all the EU markets grew, including the four largest: Germany (+24.8%), Spain (+13.3%), France (+11.5%), and Italy (+9.1%). The growth is partially a statistical anomaly since it is compared can be to the region’s rebound from a low comparison base last year, the result of vehicle component shortages.

Perhaps more significant though is that battery electric vehicles took a 15.1% market share, outselling once tax-favored diesel vehicles. Hybrid-electric cars remained the second-most popular choice among new car buyers, representing 24.3% of the market. Gasoline fueled cars retained the largest share, accounting for 36.3%. Continue reading

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VW Patents High-Speed Wireless EV Charging System

Ken Zino of AutoInformed.com on VW Patents High-Speed Wireless EV Charging System

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Volkswagen said today it has patented a unique coil and charging pad design with silicon-carbide materials to optimize charging speed and safety. The object is to make charging an electric vehicle as easy as pulling into a parking place. In the first early trials with what is called a silicon-carbide inverter, the prototype system has shown high efficiency. A research team* has been able to increase the charging power level up to 120 kW with this prototype from an earlier 6.6kW prototype, with a future goal of 300 kW.

“We are accelerating innovation within electric vehicles and contributing to more sustainable transportation in America by focusing our efforts on some of the most transformative automotive research being done in the country,” said Pablo Di Si, President and CEO at Volkswagen Group of America. Continue reading

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GM Names Norm de Greve Chief Marketing Officer

General Motors (NYSE:GM) today named Norm de Greve as senior vice president and chief marketing officer. De Greve, 54, joins GM from CVS Health, where he has served as chief marketing officer since 2015.De Greve’s appointment is effective 31 July 312023. He will report to GM President Mark Reuss.

Norm is an experienced marketing leader with a proven track record of building brands and supporting business growth in a digital world,” said Reuss. “His broad background, including time spent at Digitas working with GM, is the perfect fit as we continue our technology-driven transformation. Continue reading

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Alfa Romeo and Dodge Top Maker Website Satisfaction Study

Ken Zino of AutoInformed.com on Alfa Romeo and Dodge Top Maker Website Satisfaction Study

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Alfa Romeo ranks highest among premium manufacturer websites and Ram ranks highest among mass market manufacturer websites, according to the J.D. Power* 2023 U.S. Manufacturer Website Evaluation StudySM  – Summer, released today.

“Website satisfaction can be volatile and automotive websites are not immune to changing preferences,” said Jon Sundberg, director of digital solutions at J.D. Power. “However, manufacturers have shown to be very agile when it comes to website design and ensuring their sites meet modern standards, more so than many other industries, as exemplified through the study data.” Continue reading

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Ford Cuts F-150 Lightning Prices by $6000 to $10,000

Ford Motor said today that it is lowering the MSRP of F-150 Lightning® electric vehicle for all customers by $6000 to $10,000. The largest price cuts are on the least expensive models. The Rouge Electric Vehicle Center in Michigan is currently closed completing changes that will triple the plant’s annual capacity to a targeted 150,000 F-150 Lightning trucks beginning this fall. Tesla, of course, surprised the industry with its recent price cuts.* The increasing supply of semi-conductors is also adding to downward pricing pressure. (AutoInformed: Ford EV Customers to Get Access to Tesla Superchargers)

“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors [profits?] drove up the cost of the EV truck for Ford and our customers,” said Marin Gjaja, chief customer officer, Ford Model e. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.” Continue reading

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Chevrolet Traverse Adds Off-Road Z71 Model for 2024

Ken Zino of AutoInformed.com on Chevrolet Traverse Adds Off-Road Z71 Model for 2024

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The new Chevrolet Traverse in the fiercely competitive mid-size SUV segment is joining the off-road parade in both Canada and the US during the 2024 model year, Chevrolet said this morning. Chevy also said it has more SUV-like proportions, key safety features with families in mind, and more horsepower. It also has the new-age equivalent of a bold, new grille.

“Our new Traverse is designed and engineered to act and look more like an SUV,” said Scott Bell, vice president, Chevrolet. “Led by the all-new Z71, the 2024 Traverse builds on the success of its predecessor and will undoubtedly enable us to be in more customer driveways. Four distinct trims – LS, LT, Z71 and RS – offer unique design and greater content choices.” Continue reading

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Ford, Chrysler and BMW Top 2023 Recall List

The National Highway Traffic Safety Administration released today the latest safety defect recall list by manufacturer for the 2023 year-to-date. Ford Motor Company with 31 recalls of more than 4,100,000 vehicles – 15% of all recalls – clearly led the list. Chrysler (aka FCA) with 27 recalls of more than 1.7 million vehicles (13%) was second. BMW was third with 19 recalls of 157,000 vehicles (9%). Forest River and Navistar rounded out the terrible top five.

Manufacturers that determine that a product or component of original equipment that either contains a safety defect or is not in compliance with Federal safety standards are required to notify NHTSA within 5 business days. NHTSA requires that manufacturers file a Defect and Noncompliance Report in compliance with Federal Regulation 49 (the National Traffic and Motor Safety Act) Part 573, which identifies the requirements for safety recalls. Continue reading

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Global Light Vehicle Sales at 7.9M Up Again in June

The Global Light Vehicle (LV) selling rate rose to 93 million units/year in June, from 89 million units/year in May, according to the respected consultancy GlobalData.* All major markets beat June 2022 for just the second time thus far in 2023, supported by the easing of supply constraints. Global LV sales for last month were 7.9 million units (+10% Year-over-Year).

“For a second consecutive month, US light vehicles sales registered 1.4 million units (+20% YoY) as OEMs saw improved vehicle production levels following the easing of supply chain issues. China had the strongest month of the year so far, with a selling rate of 33 million units/year. All major West European countries reported positive YoY growth as their markets continue to recover from the market headwinds in 2022,” according to the Global Light Vehicle Sales Forecasting Team. Continue reading

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