Stellantis €1.5B Share Buyback Program Starts Tomorrow

Posted on 16 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis to Convert Three Indiana Plants to EV Components

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Stellantis* (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) announced today in Amsterdam that Share Buyback Program announced in February, covering €1.5 billion is underway with the signing of a share buyback agreement with an independent investment firm that makes its trading decisions concerning the timing of purchases independently of Stellantis. Stellantis said that this agreement relates to the first tranche of the Program, which will cover a maximum amount of up to €500 million. The buy back starts tomorrow on 17 March 2023 and will end no later than 19 June 2023. Common shares purchased under the Program will be cancelled in due course.

The buyback is  under the authority granted by the general meeting of shareholders held on 13 April 2022, up to a maximum of 10% of the Company’s capital, or any renewed or extended authorization to be granted at a future general meeting of the Company. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris. Continue reading →

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Mazda Exporting US-made CX-50 to Mexico from Toyota JV

Posted on 16 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on Mazda Exporting US-made CX-50 to Mexico from Toyota JV

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Mazda North American Operations (MNAO) today announced it has begun to export its US-assembled CX-50 crossover to Mexico, where it only has 18 years of operation. The CX-50 is assembled at Mazda Toyota Manufacturing (MTM), a joint venture in Huntsville, AL. The CX-50 is also exported to Canada and Colombia. (autoinformed.com on: First Mazda CX-50 off line at Toyota JV in Alabama)

“Mazda CX-50 arrives not only to complement our product lineup, but also to reinforce the idea that in Mazda we always want to give options to all our customers, under the best quality standards,” said Miguel Barbeyto, president of Mazda de Mexico. Continue reading →

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February Global Light Vehicle Sales Up 11% at 6.5 Million

Posted on 15 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on February Global Light Vehicle Sales Up 11% at 6.5 Million

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The Global Light Vehicle selling rate in February fell to 81 million units a year from January’s 83 million, according to the latest data just released by LMC Automotive*. “While global supply-side constraints remain a drag on the sector’s recovery, raw monthly registrations increased to 6.5 million – growth of almost 11% year-on-year, LMC said. (autoinformed.com on: January Global Light Vehicle Sales Flat at 83 Million)

The drop in SAAR, seasonally adjusted annual rate, is from a slow down in the Chinese market, affected by the Chinese New Year and termination of tax incentives in 2022. Both North America and Western Europe saw YoY improvements in performance when compared against a weak 2022,. Eastern Europe continues to suffer YoY negative growth. Continue reading →

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Kodlin Customizes a BMW R 18 B Motorcycle

Posted on 13 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on Kodlin Customizes a BMW R 18 B Motorcycle

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For the first time, Fred Kodlin has customize a BMW together with his son Len – the BMW R 18 B. Kodlin is of considerable reputation in certain Harley-Davidson circles. Since the 1990s, his custom bikes have won various Daytona shows – Rats Hole and Boardwalk – regularly. A native German, he was the first non-US citizen inducted into the Sturgis Hall of Fame.

“The R 18 B Heavy Duty was a real father-son project. There was a lot of creative input from Len which also goes to show that the next generation at Kodlin Bikes is already in the starting blocks,” said Fred Kodlin in Borken, Germany this morning. Continue reading →

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Ford Motor Recalls 2023 Model Year Transit Vans

Posted on 13 March 2023 by Ken Zino

Ford Motor Company is recalling all 2023 Transit vans equipped with the Special Vehicle Operations Accessory Service Kit #1 or #2 with a so-called High Specification Vehicle Interface Connector. “When the accessory kit is installed, the auxiliary wire harness  made by Yazaki North America will disable the heating, air-conditioning, and ventilation (HVAC) including the defrost and defog systems.

The auxiliary wire harness supplier Yazaki manufactured the wire harness with blunt end wires installed in the Controller Area Network (CAN) bus communication pins of the auxiliary wire harness’ connector instead of the required twisted pair CAN loop, resulting in an interruption of the CAN communication path and  rendering the HVAC system inoperative. As a result, the HVAC system, including defrost/defog, will not function. Controls for the  HVAC in the SYNC screen will be grayed. Continue reading →

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Ford Axle Recalls on 2023 F-150, Expedition, Lincoln Navigator

Posted on 13 March 2023 by Ken Zino

Ford Motor Company is recalling a small number of 2023 F-150, Expedition, and Lincoln Navigator vehicles. The front axle pinion may not have been heat-treated, which can cause it to fracture. Mailing of owner notification letters is expected to begin March 20, 2023 and is expected to be completed by March 24, 2023, according to the required filing with the National Highway Traffic Safety Administration just made public.

The driver may hear a loud noise when the pinion breaks or as the drive shaft and flange hit the frame cross member and stability bar after pinion fracture. The failure mode could occur at any time in 4×4 application but is expected to occur primarily while in reverse as the pinion is subject to higher loads. Continue reading →

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Toyota Recalls ~130,000 Tundra, Tundra Hybrid Pickups

Posted on 13 March 2023 by Ken Zino

Toyota Motor Engineering & Manufacturing is recalling more than 130,000 2022-2023 model year Tundra and Tundra Hybrid pickups that may be equipped with a Toyota accessory tonneau cover. The tonneau cover attachment joints may come loose, allowing the cover to detach at highway speeds.

In the required NHTSA filing just released, Toyota said that field surveys investigating the tonneau cover securing joint and torque studies showed that there is a possibility that the torque values of some joints in the field are lower than the amount of torque required to compress the lock washer completely. Continue reading →

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Electrified – Mitsubishi Motors Releases Latest Mid-Term Plan

Posted on 10 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on Electrified - Mitsubishi Motors Releases Latest Mid-Term Plan

The xAUTO  demonstration car uses Mitsubishi Electric technology for autonomous driving. Click for more information.

Mitsubishi Motors Corporation (7211.T) in Japan today released its next Mid-Term Business Plan (MTP). This three-year plan, Challenge 2025, states MMC’s corporate direction. As with all recent global automaker’s mission statements, MMC claimed to be reinforcing the company’s environmental commitment toward a carbon-neutral future, laying the foundation for how MMC will work within the Renault-Nissan-Mitsubishi Alliance and other global alliances. It also talks about future plans for various global markets.  (autoinformed.com on: Renault and Nissan, Mitsubishi Alliance to Restructure)

Challenge 2025 says MMC will accelerate efforts toward a sustainable carbon neutral future, made possible through a reduction of vehicle CO2 emissions by 40% and a reduction in operational CO2 by 50% by 2030. MMC aspires to make 50% of global sales EVs by 2030. MMC projects 100% of the fleet electrified by 2035 (EV means a blend of plug-in hybrids (PHEV), hybrids (HEV) and pure electrics (BEV)). “This goal is made possible through more aggressive investment in R&D and CAPEX, particularly in areas of electrification, IT, and new business,” MMC said. MMC also projects a ¥200 billion (~$1.5 billion) investment in battery sourcing for its 2030 EV sales. Continue reading →

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Nissan X-in-1 – Shared, Modular EV Components

Posted on 10 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on Nissan X-in-1 – Shared, Modular EV Components

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Nissan has a new approach to electrified powertrain development, which it calls “X-in-1”. Under the approach, core EV and e-POWER powertrain components will be shared and modularized, resulting in a 30% reduction, compared to 2019, in development and manufacturing costs by 2026, Nissan claims (7201.T-JP: Tokyo Stock Exchange). The X-in-1 approach, which covers 3-in-1,  as well as 5-in-1, and other possible variants, has been developed to allow EV and e-POWER core components to be produced on the same assembly line, Nissan said in Yokohama, Japan.

“We make the most of our expertise and know-how from our more-than-a-decade long development and production of electrified technologies. Through our innovations in electrified powertrain development, we’ll continue to create new value for customers and deliver 100% motor-driven vehicles – EVs and e-POWER – as widely as possible,” said Senior Vice President Toshihiro Hirai, who leads powertrain & EV engineering powertrain development. Like all automakers, converting to EVs is an expensive process, potentially ruinous for shareholders. Continue reading →

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EV Servicing – First Power CSI Satisfaction Drop in 28 Years

Posted on 9 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on EV Servicing - First Power CSI Satisfaction Drop in 28 Years

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You can sell EVs, but you can’t service them to the customer’s satisfaction. That’s the bottom line of the results  of the J.D. Power 2023 U.S. Customer Service Index (CSI) Study,SM released today. The growing volume of battery electric vehicles (BEVs) being serviced at dealerships is having a negative effect on overall customer service satisfaction, resulting in a year-over-year decline in score for the first time in 28 years. Satisfaction with the service experience declines 2 points to 846 (on a 1000-point scale) in this year’s study. This is not necessarily statistically significant, AutoInformed notes, but it could become a worrisome trend.

“As the electric vehicle segment grows, service is going to be a ‘make or break’ part of the ownership experience,” said Chris Sutton, vice president of automotive retail at J.D. Power. “The industry has been hyper-focused on launches and now these customers are bringing their electric vehicles in for maintenance and repairs. As training programs for service advisors and technicians evolve, EV service quality and customer experience must address both the vehicle and the unique customer needs. The EV segment has the potential to spur massive convenience improvements in how customers service their vehicles—but we’re not seeing the benefits yet.” Continue reading →

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IIHS Questions the Safety of Electric Vehicles on Others

Posted on 9 March 2023 by Ken Zino
Ken Zino of AutoInformed.com on Crash Course – Euro NCAP on 2022 Safety Tests

EV crash compatibility with other vehicles and their effect on people or pedestrians is a valid concern.

In a piece just released this morning by Raul Arbelaez the Vice President, Vehicle Research Center at IIHS, asked: “How safe are electric vehicles? It’s a question that keeps coming up in different ways in my role overseeing our vehicle crashworthiness evaluations.” Based on IIHS’s 55 crash tests of EVs starting in 2011, Arbelaez outlined his current concerns, some of which are cited below.

This is just the latest discussion on the expanding concerns about EV safety  and their societal impact. In AutoInformed’s view these issues need to be worked on. They mirror an earlier problem with large pickup trucks and their crash compatibility with other vehicles, which the industry did partially address. See below for relevant stories* Continue reading →

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Mercedes-Benz EQE Priced from +$79,000 in the US

Posted on 8 March 2023 by Ken Zino

The fully electric 2023 EQE SUV will arrive at Mercedes-Benz US dealerships this with prices ranging from $79,050 to more than $96,000. The 2023 EQE SUV line- includes the EQE 350+ SUV, EQE 350 4MATIC SUV and EQE 500 4MATIC SUV. As with EQS SUV, all models will be offered in Premium, Exclusive and Pinnacle Trims for the U.S. market.

For the first time, the fully variable 4MATIC all-wheel drive system with torque shift in the EQE 350 4MATIC SUV is offered at the same starting price as the EQE 350+ SUV. Mercedes-Benz claimed that this , enhances value for customers for the highest volume model. Each trim has EQ-specific innovative technologies and luxurious features, along with an array of additional options for further personalization. All are built in Tuscaloosa, Alabama.* Continue reading →

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NHTSA Opens Tesla Probe for Steering Wheels Falling Off

Posted on 8 March 2023 by Ken Zino

The Office of Defects Investigation (ODI) at the National Highway Traffic Safety Administration has opened a probe about Tesla steering wheels falling off. In a document just made public, ODI said it is aware of two reports of complete detachment of the steering wheel from the steering column while driving in 2023 Model Year Tesla Model Y vehicles. Both Model Y Teslas were delivered to the owners missing the retaining bolt (P/N1036655-00-A) which attaches the steering wheel to the steering column. Continue reading →

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Nissan Recalls Rogues for Sudden Engine Shutoff

Posted on 7 March 2023 by Ken Zino

Nissan North America is recalling more than 700,000 2014-20 model year Rogue and 2017-2022 Rogue Sport hatchbacks equipped with a jackknife style ignition key. The jackknife key may collapse into a folded position. Over time the internal pivot of the jackknife key may weaken, and the key fob could unlock and rotate downwards. If the Rogue is driven with the key in the collapsed position, contact with the key fob by the driver could inadvertently turn the vehicle off without warning while driving, increasing the risk of a crash.

Owners are warned not to attach any accessories to their key and only use the key in the unfolded orientation until the remedy for the safety defect is available. In addition, dealers and rental fleets will be instructed on an interim remedy to insert a fastener into the key slot that will prevent the key from folding. When remedy parts are available, dealers will insert a spacer into the key slot of the customer’s key fob that will not allow the key to collapse. Continue reading →

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Ford Recalls Ranger Airbag Recall for Unsafe Repair

Posted on 7 March 2023 by Ken Zino

Ford Motor Company is recalling ~100,000 2004-2006 model year Ranger pickup trucks that received replacement front-passenger air bag inflators under a previous recall. The replacement frontal passenger air bag inflators may have been installed incorrectly. This means that airbag may not deploy as intended, increasing the risk of injury.

Although Ford service instructions include diagrams and instructions for proper airbag inflator installation, technicians who mis-installed the inflator told Ford they did not review the instructions prior to installation. Ford did not name the “select dealerships (responsible) and a certain third-party mobile repair team,”  which discovered botched repair(s) in the required filing with the National Highway Traffic Safety Administration.* Continue reading →

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