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The Western Europe passenger vehicle (PV) selling rate dropped to 10.9 million units annually in March, from 11.7 million units in February, according to the latest data made public today by the LMC Automotive* consultancy. “However, the overall registration figure comfortably outstripped that of February, at 1.3 million units, in what is a seasonally strong month. In year-on-year (YoY) terms, the market was up 26%,” LMC said. (autoinformed.com on: February 2023 Western EU Passenger Vehicle Sales Up 11%)
All of the five largest Western European countries posted strong YoY growth in registrations. However, this was largely because 2022 provides a weak base of comparison, along with some easing of supply side challenges, aiding the pace of vehicle registrations LMC noted. Continue reading
GM Defense Gets US Army OK for Infantry Squad Vehicle
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GM Defense, a subsidiary of General Motors (NYSE: GM), said today that the U.S. Army provided a full-rate production decision for the Infantry Squad Vehicle (ISV). GM Defense won the initial $214.3 million contract to develop the light and agile all-terrain troop carrier to transport a nine-Soldier infantry squad and their equipment in June 2020. GM Defense is manufacturing 649 ISVs with the ability to support the production of more than 2593 vehicles with additional authorization over eight years.
“We do not anticipate changes in production volume through September 2023,” said a GM Defense spokesperson. “Achieving full rate production affirms the engineering and manufacturing processes that support the Infantry Squad Vehicle are meeting our U.S. Army customer needs and that production can be scaled to meet increased demand in the future. This important milestone adds credibility to the ISV program and validates our continued efforts to successfully deliver advanced commercial technologies to soldiers.” Continue reading →