Wayne Taylor Racing, Andretti Autosport to Run Two IMSA Cars

Posted on 16 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Wayne Taylor Racing, Andretti Autosport to Run Two IMSA Cars

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Wayne Taylor Racing with Andretti Autosport (WTRAndretti) announced today that it has expanded plans for a two-car GTP effort in IMSA with Acura and Honda Performance Development (HPD). The two-car factory supported program will compete for the IMSA WeatherTech SportsCar (GTP) Championship beginning at the 2024 Rolex 24 At Daytona. WTRAndretti’s current GTP dynamic duo of Ricky Taylor and Filipe Albuquerque will continue to drive – or is that aim – the No. 10 Konica Minolta Acura ARX-06 with additional drivers for both cars to be announced in the coming months. Will they raid Meyer-Shank?

“It has always been our plan to go to a two-car program,” said Wayne Taylor, Team Owner, Wayne Taylor Racing with Andretti Autosport. “There are so many advantages in being a two-car team and now, going up against all the other factory backed two-car efforts, it is vital. HPD and ORECA have built an amazing race car. When you look back at the season so far, we’ve proved to be quickest almost wherever we go and I believe we now have the car to beat. With the combination of HPD, ORECA, Andretti Autosport and all our corporate partners, we have a really strong organization.” Continue reading →

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Global Light Vehicle Sales Soar in April 2023

Posted on 16 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Global Light Vehicle Sales Soar in April

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The Global Light Vehicle (LV) selling rate rose to 86 million units annually in April 2023, up from March’s 84 million units per year, according to data just released from the LMC Automotive* consultancy. The US market remains strong. (AutoInformed: US New Vehicle Sales Soar in April 2023 at 1.3 Million)

Numerous national or regional markets also have advanced from an easing of supply constraints, with overall Year-over-Year growth of 25%. China, the world’s largest auto market remains problematic. Following are LMC observations. Continue reading →

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Stellantis Buys Share of Symbio for Fuel Cell Technology

Posted on 16 May 2023 by Ken Zino

Faurecia, Michelin and Stellantis announced today the signing of a binding agreement for Stellantis (NYSE: MTA Euronext Paris: STLA) to buy a 33.3% stake in Symbio*, a company centered around hydrogen mobility. Faurecia and Michelin will also remain shareholders with 33.3% holding each. (AutoInformed on: Stellantis to Buy a Large Part of Faurecia Michelin Hydrogen)

“Acquiring an equal stake in Symbio will bolster our leadership position in hydrogen-powered vehicles by supporting our fuel cell van production in France, and it also serves as a perfect complement to our growing battery electric vehicle portfolio,” said Carlos Tavares, Stellantis CEO. Continue reading →

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Semiconductor Talent and Automotive Research MOU with Global Aspirations Announced in Antwerp

Posted on 16 May 2023 by Ken Zino

KLA Corporation (NASDAQ: KLAC) and imec (sic) today announced and Memorandum of Understanding the goal of establishing the so-called Semiconductor Talent and Automotive Research (STAR) initiative in Belgium, focusing on “developing the talent base and infrastructure necessary to accelerate advanced semiconductor applications for electrification and autonomous mobility and move the automotive industry forward.”

The plan establishes a center of excellence (COE) in Michigan to formalize support for the development of the semiconductor industry workforce, as well as the advancement of autonomous automotive technology and electric vehicle research. Star is designed to connect automotive, semiconductor and innovation research initiatives in Europe (Belgium), the United States (Michigan) and Asia (Japan). Continue reading →

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GM Expands Airbag Recalls Over Supplier ARC’s Objections

Posted on 15 May 2023 by Ken Zino

General Motors is recalling ~1,000,000 model 2014-2017 Buick Enclave, Chevrolet Traverse, and GMC Acadia vehicles. The driver’s air bag inflator may explode during deployment, due to a manufacturing defect, spreading potentially fatal shrapnel flying about the interior. The airbag inflator manufacturer, ARC, disputes the need for a recall. The cause of inflator ruptures remains unknown and is disputed.

In an unusual move, NHTSA publicly revealed that it wrote Arc: “As you are aware, on July 13, 2015, the Office of Defect Investigation (“ODI”) of the National Highway Traffic Safety Administration (“NHTSA” or the “Agency”) opened a Preliminary Evaluation (PE15-027) to investigate certain air bag inflators designed by ARC Automotive, Inc. (ARC). NHTSA opened its defect investigation after learning of two driver air bag inflator field ruptures involving ARC designed inflators,” NHTSA wrote. Continue reading →

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Ford Expanding Explorer SUV Roll-away Recall

Posted on 15 May 2023 by Ken Zino

Ford Motor Company is recalling 2020-2022 Explorer vehicles equipped with a 2.3L RWD, 3.3L GAS, 3.3L FHEV, or 3.0L ST powertrain, according to documents made public by the National Highway Traffic Safety Administration today. The Explorers can roll-away.

The previous powertrain control module (PCM) update completed under recall 22V-255 did not include what is described as “the automatic electronic parking brake feature when the vehicle is shifted to park, as intended.” In addition, the rear axle horizontal mounting bolt may fracture and cause the driveshaft to disconnect. Continue reading →

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Mazda Motor Posts Improving FY 2203 Financial Results

Posted on 12 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Mazda Motor Posts Weak FY 2203 Financial Results

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Mazda Motor (7261:JP – Tokyo) posted Fiscal Year 2023 (ended 31 March 2023) financial results of net sales at ¥4.5 trillion, operating income at ¥180 billion, and net income at ¥130 billion. This was based on a global sales volume of 1.11 million units, down 11.3% year-on-year. Sales dropped in all countries except Japan, “mainly due” to reductions in production from semiconductor supply shortages in the first half of the fiscal year and a shortage of car transport ships. China was a notable problem area.

However, Mazda said: “Under these conditions, the Mazda Group steadily improved its profit base by implementing group-wide initiatives to improve per-unit profit, curb costs, reduce marketing expenses, improve fixed cost efficiency, and redesign components to expand the use of general-purpose semiconductors as a means of mitigating semiconductor shortages.” Continue reading →

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SEMA CEO Testifies Against Proposed EPA Standards

Posted on 11 May 2023 by Ken Zino

SEMA President and CEO Mike Spagnola testified remotely yesterday before the U.S. Environmental Protection Agency (EPA) in opposition to the agency’s newly proposed new federal emissions standards for motor vehicles model years ’27-’32, which are intended to significantly increase sales of electric vehicles (AutoInformed: EPA Wants Toughest Federal Emission Standards Ever).

“SEMA and its members have serious concerns with this proposal, which aggressively seeks to lower carbon emissions under timelines that effectively make electric vehicles the de facto choice option for automakers to meet the requirements. Government shouldn’t pick winners and losers. This far too-fast mandate will create a seismic shift for small businesses who don’t have the capacity to make the shift this quickly, especially when they’re not receiving billions in government funds like the large automakers are to fund their electric vehicle programs,” said Spagnola.
Continue reading →

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Penske Automotive Ups Dividend, Will Buyback More Shares

Posted on 11 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Penske Automotive Ups Dividend, Will Buyback More Shares

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The Penske Automotive Group, Inc. (NYSE: PAG), today announced that its Board of Directors has authorized an increase in the Company’s quarterly dividend by $0.05 per share or 8%, to $0.66 per share and delegated to management an additional $250 million in authority to repurchase the Company’s outstanding securities.

“Based on the strength of the Company’s performance and continued strong cash flow, we are pleased to provide our shareholders with an increase in the cash dividend, and we remain poised to return value to shareholders through additional securities repurchase authority as market conditions and other considerations warrant,” said Penske Automotive Group President, Robert Kurnick, Jr. Continue reading →

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IIHS – Rear Seat Passengers at Risk in Small Cars

Posted on 11 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on IIHS - Rear Seat Passengers at Risk in Small Cars

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Most small cars don’t provide good protection for rear-seat passengers, according to the latest data from crash tests by the Insurance Institute for Highway Safety.* None of the five small cars IIHS evaluated earns a good rating, according to data released today. The Honda Civic sedan and Toyota Corolla sedan are rated acceptable. The Kia Forte, Nissan Sentra and Subaru Crosstrek are rated poor.

“These results highlight one of the key reasons that we updated our moderate overlap front crash test,” said IIHS President David Harkey. “In all the small cars we tested, the rear dummy ‘submarined’ under the seat belt, causing the lap belt to ride up onto the abdomen and increasing the risk of internal injuries.” Continue reading →

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Honda Motor Posts FY 2023 Operating Profit of ¥839.3B

Posted on 11 May 2023 by Ken Zino

Honda Motor Company (Tokyo 7267) said in Japan today that notwithstanding mounting headwinds, including decreases in automobile production and sales due to COVID-19 in China, the semiconductor supply shortage, increased costs from higher raw material prices and the impact of inflation, it posted an operating profit ¥839.3 billion ($5.91B). This came from pricing that “reflects increased product value, an increase in motorcycle unit sales, and favorable currency effects.”

Revenue at ¥16.908 billion increased 16% year-over-year (YoY).* Net profit for Q4 of the Japanese fiscal year ending 31 March fell to ¥112.0 billion ($833.6 million) from ¥124.8 billion YoY. Fourth-quarter revenue rose 13% YoY to ¥4.384 trillion. Continue reading →

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EPA – New Carbon Pollution Standards for Power Plants

Posted on 11 May 2023 by Ken Zino

The US Environmental Protection Agency (EPA) today proposed new carbon pollution standards for existing coal and new natural gas-fired power plants that would limit the pollution from the nation’s power sector. EPA claimed the plants would avoid up to 617 million metric tons of total carbon dioxide (CO2) through 2042, which is equivalent to reducing the annual emissions of 137 million passenger vehicles, ~half the cars in the US. Through 2042, EPA estimates the net climate and health benefits of the standards are up to as much as $85 billion.

“By proposing new standards for fossil fuel-fired power plants, EPA is delivering on its mission to reduce harmful pollution that threatens people’s health and well-being,” said EPA Administrator Michael S. Regan. Continue reading →

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Toyota Motor FY 2023 Finishes with a Strong Q4

Posted on 10 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Motor FY 2023 Finishes with a Strong Q4

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Toyota Motor Corporation posted a ¥552.2 billion (~$4 b) Q4 net profit, a slight increase from ¥533.8b (~$3.9 b) at its 2023 Fiscal Year meeting Wednesday in Japan. Q4 sales increased 20% to ¥9.69 trillion (~$72 b).

However, the strong results coming from the easing of Covid-induced shortages wasn’t enough to overcome relatively disappointing Q1, Q2 and Q3 results, as well as rising material costs. Toyota’s profit dropped -14% year-on-year to ¥2.45 trillion yen (~$18 billion). This was based on sales of 10.56 million vehicles for FY 2023 ending 31 March and includes Daihatsu and Hino results. Toyota forecasts 11.38 million vehicles for the fiscal year ending in 31 March 2024. (AutoInformed: Toyota Annual Results Show Profitability Struggle Goes On) Continue reading →

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First Look – 2024 Ford Ranger Pickup

Posted on 10 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on First Look 2024 Ford Ranger Pickup

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Ford Motor today revealed details on the 2024 model-year Ranger, calling  the globally sold mid-size pickup connected and capable. Rangers sold in the US will be assembled at the Michigan Assembly Plant in Wayne, Michigan. Orders begin later this month. The Ranger should be in showrooms beginning late summer. However, it will be late fall before the optional, but recommended here, 2.7-liter EcoBoost engine appears.

“The all-new Ranger has already proven itself on almost every continent in 2022 with segment sales leadership in 18 countries, and all of Europe†. Now it’s ready for North America,” claimed Kumar Galhotra, president of Ford Blue. Continue reading →

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Corvette Z06 is Pace Car for 107th Indianapolis 500

Posted on 9 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Corvette Z06 is Pace Car for 107th Indianapolis 500

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A hardtop convertible Chevrolet Corvette Z06 will be the pace car for the 107th Indianapolis 500 on Sunday 28 May, Chevrolet said today. This is the first generation of Corvette Z06 to offer a hardtop convertible, with capability ability to “serve on track at any speed and provide open roof comfort on the street,” Chevrolet claimed. Corvette has paced the 500 more times than any car. The 2023 race is the 34th time for Chevrolet dating back to 1948; the 20th time since 1978 for the Corvette.

With a Red Mist (not to be confused with the racer’s meaning of that term. Ah, the perils of a young communications staff.) Metallic exterior paint and two-tone Jet Black and Sky Cool Gray with Torch Red accents on the interior, the ‘Vette also has the requisite marketing Indianapolis 500 logos. Spider-design forged aluminum wheels finished in Tech Bronze are part of the package, which likely will be marketed to street buyers. Continue reading →

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