Porsche Posts €1.8B Operating Profit in Q1 2023

Posted on 5 May 2023 by Ken Zino

Porsche AG achieved solid results in its first quarter after becoming a public company. Sales revenue rose by 26% compared to Q1 last year at €10.10 Billion (previous year: €8.04B). Group operating profit rose by 25.4% from €1.47B to €1.84B. Group operating return on sales at 18.2% was about the same for Q1 last year.

Q1 automotive net cash flow was €1.43B (€778 million). The cash flow margin for the automotive segment rose to 15.3% (10.6 %). Net cash flow for the previous year was of course hurt by disruptions in the supply chain that hurt virtually all global automakers. Porsche increased deliveries to customers by 18% year-on-year in Q1 at 80,767 vehicles (68,426). Continue reading →

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NADA – 2023 US Sales Forecast at 14.6 Million

Posted on 4 May 2023 by Ken Zino

US light vehicle sales for 2023 are now forecast at 14.6 million units, according to Patrick Manzi, Chief Economist  of the National Automobile Dealers Assn. Light-vehicle sales in April 2023 rose significantly year-over-year at a 15.9 million unit Seasonally Adjusted Annual Rate (SAAR), which was an increase of 11.4% compared with a 14.3 million SAAR for April 2022. (AutoInformed: April US Light Vehicle Sales up 10%). This means that April’s volumes were comparable with pre-pandemic levels as the Biden recovery continues. The question is for how long?

“Increased vehicle availability, which alleviated some consumer and fleet pent-up demand, helped fuel the sales rise. According to Wards Intelligence, fleet sales are forecast to account for 16% of April 2023 sales,” Manzi said. “We expect continued sales improvement driven by greater vehicle availability as more OEMs move past the chip shortage. Our forecast for 2023 is 14.6 million units,” according to Manzi. Continue reading →

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Pre-Order 2024 Acura Integra Type S on 11 May

Posted on 4 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Pre-Order 2024 Acura Integra Type S on 11 May

Click photo for more Information. Given the price, Gold is appropriate.

Acura said this morning in Torrance CA that the 2024 Acura Integra Type S, “best performing Integra ever,” will be available for limited reservations of  the first 200 production units before the high-performance model officially begins arriving at dealerships next month. The pre-order is available at Acura.com/Integra starting 11 May at 10:00 am Pacific time.*

So-called premium features and technologies include heated front sport seats, a 10.2-inch Acura Precision Cockpit™ digital instrument cluster, head-up display, wireless Apple CarPlay® and Android Auto™ compatibility, wireless phone charging and a 16-speaker ELS STUDIO 3D® premium audio system, the 2024 Integra Type S carries a manufacturer’s suggested retail price (MSRP) of $51,9953. Continue reading →

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Ford Motor Q1 Sales, Profits, Cash Flow Up. But…

Posted on 3 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Ford Motor Q1 Sales, Profits, Cash Flow Up

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Late yesterday Ford Motor posted Q1 2023 revenue of $41.5 billion, up 20% from the same period a year ago on shipments ~1.1 million vehicles, a 9% increase with $1.5B in net income. A year ago Ford posted a net loss of $3.1 billion. However, in an SEC filing today, Ford said it projects restructuring charges between $1.5 billion and $2 billion in 2023 by reducing employees and exiting unprofitable locations. Brazil, Europe and India appear to be likely restructuring targets. US headcount cuts remains an open question.

“The first quarter of organizing around and running the company on behalf of distinct customer groups produced solid operating results and a glimpse of the promise of its Ford+ growth plan,” said Ford CEO Jim Farley. Ford reaffirmed guidance for full-year 2023 adjusted EBIT of $9 billion to $11 billion. Profitability in Q1 was helped by a favorable mix of products, higher net pricing and increased volume and was broadly based geographically. However its EV business is still hemorrhaging money, posting a loss of $722 million. Continue reading →

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Nel Announces Automated Hydrogen Fuel Factory in Michigan

Posted on 3 May 2023 by Ken Zino
AutoInformed.com on Daimler Truck and Rolls-Royce to unite on stationary fuel-cell generators. Courtesy of and Copyright Daimler.

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Nel (NEL.OL) today announced plans to build a new automated electrolyzer manufacturing facility in Michigan. When fully established, the Michigan facility of the Norwegian hydrogen company will have a production capacity of up to 4GW of Alkaline and PEM electrolyzers.*

Nel said it will build on its fully automated Alkaline manufacturing concept invented at Herøya in Norway. The company’s expansion of the facility in Wallingford will play a critical role in creating a blueprint for scaling up the production of PEM electrolysers. Continue reading →

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April US Light Vehicle Sales up 10%

Posted on 3 May 2023 by Ken Zino

US light vehicle sales grew by 10.2% year-on-year (YoY) in April to 1.36 million units, according to according to preliminary estimates just released by the LMC Automotive* consultancy. This means that April’s volumes were comparable with pre-pandemic levels as the Biden recovery continues. In month-on-month (MoM) terms, April is forecast to be up slightly (+0.2%), even though seasonality would normally suggest that March would be a significantly stronger month – and it had an additional selling day compared to April, LMC noted. (March Global Light Vehicles Sales Up 12%; US New Vehicle Sales Soar in April 2023 at 1.3 Million)

“While sales throughout 2023 to date had given us some reason to be encouraged, the April result was comfortably the most impressive outcome since 2021. As the market appears to be finally moving beyond supply chain woes, and pricing begins to become slightly more favorable to the consumer, thanks to higher incentives, we are now seeing sales comparable to pre-pandemic levels. There are some differences with the pre-COVID landscape – customers are waiting longer for vehicles, as OEMs learn the benefits of tighter inventories – but in some ways the market is returning to something approaching normal,” said David Oakley, Manager, Americas Sales Forecasts, LMC Automotive. Continue reading →

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Subaru of America April Sales Up 11.5 %

Posted on 2 May 2023 by Ken Zino

Subaru of America today reported 51,014 vehicle sales for April 2023, an 11.5% increase compared with April 2022 (45,748). SOA also reported year-to-date sales of 194,390, a 9% increase compared with the same period in 2022.

In April, Outback led by volume with 15,263 sales. Impreza sales for April 2023 at 36oo increased 113% over the same month in 2022, while WRX posted a 78% increase at 2700. BRZ sales  at 507 increased 70%, and Forester sales at 9700 increased 57% compared to April 2022. In addition, 603 of the all-electric Solterra SUVs were delivered in April. Continue reading →

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Hyundai Motor America April Sales up 15%

Posted on 2 May 2023 by Ken Zino

Hyundai Motor America today reported total US April sales of 70,812 units, a 15% increase compared with April 2022. It was the second best April in Hyundai history.

Hyundai set best-ever total sales in April for Elantra HEV (+57%), Elantra N (+6%), Kona EV (155%), Santa Fe HEV (+259%), Tucson PHEV (+47%), Tucson HEV (+101%) and Santa Cruz (+14%). Hyundai fleet sales were 5,917 and represented 8% of total volume for the month. Continue reading →

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PACCAR, Toyota to Sell Fuel Cell Trucks in 2024

Posted on 2 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on PACCAR, Toyota to Sell Fuel Cell Trucks in 2024

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PACCAR* and Toyota Motor North America (NYSE:TM) announced today an expansion of their joint efforts to develop and produce zero emissions, hydrogen fuel cell (FCEV) Kenworth and Peterbilt trucks powered by Toyota’s next-generation hydrogen fuel cell modules.

The expanded agreement supports ongoing development and sale of zero-emission versions of the Kenworth T680 and Peterbilt 579 models with  Toyota’s hydrogen fuel cell powertrain kit. Initial North American customer deliveries are planned for 2024. (CARB Approves Toyota HD Fuel Cell Electric Powertrain Kit) Continue reading →

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Volta Trucks Pilot EVs – US Debut in Late 2023

Posted on 2 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Volta Trucks Pilot EVs US Debut in Late 2023

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Volta Trucks, a startup all-electric commercial vehicle maker and services company, has announced a partnership with EAVX, a business unit within J.B. Poindexter & Co., Inc. (JBPCO), to build the truck bodies for the upcoming Pilot Fleet of all-electric Volta Zeros* in the US. (Volta Trucks Says it Has a US Market Strategy)

The so-called “Driving Experience Program” in the US will be launched late in 2023 for fleet operators to assess a Pilot Fleet of Volta Zeros in real distribution environments to understand how the electric delivery trucks will integrate into their operations. A similar program is currently launching across six European countries. The program in the US will start on the west coast, ahead of a roll out of production vehicles expected in 2024. Continue reading →

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General Motors Announces Senior Executive Changes

Posted on 2 May 2023 by Ken Zino

General Motors said today that Steve Carlisle, currently executive vice president and president, North America, has elected to retire after 41 years with GM. Carlisle, 61, has led GM North America since September 2020. Before leading North America, Carlisle had been senior vice president and president, Cadillac, a position he held since April 2018. Before joining Cadillac, Carlisle had been president and managing director, GM Canada, since November 2014.

Over the course of his career with GM, Carlisle has held several senior leadership positions, including vice president, Global Product Planning and Program Management, 2010-2014; vice president, U.S. Sales Operations, 2010; and president and managing director, Southeast Asia Operations, 2007-2010. The retirement resulted in a series of executive changes at the top of GM – all of them filled by men. (Vice Admiral Tighe Shattering Glass at GM Board of Directors) Continue reading →

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Annals of Marketing – Fully Electric Toyota bZ4X Ads Debut

Posted on 1 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on Annals of Marketing – Fully Electric Toyota bZ4X Ads Debut

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Toyota (NYSE:TM) in Texas today announced its new, well, ‘electrifying’ ad campaign for the 2023 bZ4X. Dubbed the “Easy bZ” ads, it highlights the fully electrified compact SUV claiming it makes electrified driving easier than ever. (Toyota bZ Compact SUV Debuts at LA Auto Show)

“The “Easy bZ” campaign will show drivers how smooth it is to transition to an all-electric vehicle,” said Lisa Materazzo, group vice president, Toyota Marketing, Toyota Motor North America. “The bZ4X all-electric SUV is the total package in terms of innovative design and advanced technology, meticulously engineered to make electrification easier.” Continue reading →

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First Look – 2024 GMC Sierra HD AT4X, and AEV

Posted on 1 May 2023 by Ken Zino
Ken Zino of AutoInformed.com on First Look - 2024 GMC Sierra HD AT4X, and AEV

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GMC  today announced 2024 GMC Sierra HD AT4X , emphasizing the premium Sierra HD AT4X AEV Edition*. AT4X includes a new Off-Road Mode. When engaged, the Off-Road Mode adjusts vehicle calibrations, such as the anti-lock brakes, traction control and stability control, to provide what’s claimed to be optimized performance off-road. Additionally, Off-Road Mode alters throttle progression and transmission shifts to allow for better off-road control and performance. Say it ain’t so? GMC will continue to make the 6.6-liter Diesel engine available.

“GMC’s AT4X trim, which will be available across the entire GMC truck lineup, offers customers more premium choices when it comes to ‘do-it-all’ capabilities,” said Duncan Aldred, global vice president, Buick-GMC. “Each model delivers unique strengths, with the all-new Sierra HD AT4X taking it to the max, giving our customers the most luxurious and most off-road capable HD we’ve ever offered. AT4X means you can conquer almost any terrain, in complete comfort and with the towing power to bring your recreational toys, gear or camper along for the adventure,” Aldred effused. Continue reading →

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NHTSA – Wheels Falling Off 2023 Ford Bronco, Ranger Trucks

Posted on 1 May 2023 by Ken Zino

Ford Motor Company is recalling 2023 Bronco and Ranger vehicles because lug nuts on the driver’s side wheels may have been improperly tightened and can fall off. At least one wild wheel struck another vehicle. Driving and dealer delivery holds are in place for the safety defect.

In a public filing with the National Highway Traffic Safety Administration, Ford said the nut tightening machine was broken and that a manual – translation human – backup was in place. Continue reading →

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CARB Mandates Zero-Emission Medium, Heavy-Duty Vehicles

Posted on 28 April 2023 by Ken Zino

The California Air Resources Board (CARB) today approved a first-of-its-kind rule that requires a phased-in transition toward zero-emission medium- and heavy-duty vehicles, aka ZEVs. Trucks represent only 6% of the vehicles on California’s roads. However, CARB noted that they account for more than 35% of the state’s transportation generated nitrogen oxide emissions, and 25% of the state’s on-road greenhouse gas emissions.

“We have the technology available to start working toward a zero-emission future now,” said CARB Chair Liane Randolph. “The Advanced Clean Fleets rule is a reasonable and innovative approach to clean up the vehicles on our roads and ensure that Californians have the clean air that they want and deserve. At the same time, this rule provides manufacturers, truck owners and fueling providers the assurance that there will be a market and the demand for zero-emissions vehicles, while providing a flexible path to making the transition toward clean air.” Continue reading →

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