Subaru Crosstrek Gen 3 Debuts at Chicago Auto Show

Posted on 10 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Subaru Crosstrek Gen 3 Debuts at Chicago Auto Show

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Subaru of America today showed the all-new 2024 Crosstrek at the Chicago Auto Show, which starts at the same . MSRP of $24,995* as the 2023 version, likely because to the weak Japanese Yen.** The 2024 Crosstrek claims improved performance, enhanced safety features and updated multimedia technology. The third-generation compact SUV has new exterior and interior designs and will no doubt remain Subaru’s best-selling model.

Standard across line is a revised “Symmetrical All-Wheel Drive” system with a faster response time, more agile handling and better control both on- and off-road, according to Subaru. Driver-selectable X-MODE with Hill Descent Control maximizes wheel control on slippery surfaces and steep inclines. Sport and Limited trims upgrade to dual-function X-MODE for increased capability in a wider range of conditions. All models have Incline Start Assist, which briefly holds the vehicle while the driver pulls away from a stop on a hill. Continue reading →

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Toyota Profit for Q3 Up 22%. YTD Down

Posted on 9 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Profit for Q3 Up 22%. YTD Down

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Toyota Motor (7203.T) said today that operating income for the first nine months of the Japanese fiscal year decreased, but operating income for the third quarter alone increased with help from a weaker Yen and higher volumes at 2.33 million vehicles, which exceeded the negative effect of soaring materials prices. Toyota’s full-year forecast remains unchanged from the previous forecast, with operating income of ¥2 trillion 400 billion.

During Q3 profit for the three months ended Dec. 31 was ¥956.7 billion (~$7.28 B). During Q3 a year ago Toyota posted a ¥784.4B profit. The effects of foreign exchange rates increased operating income by ¥1 trillion 45 billion as the weaker ¥ boosts the bottom line when profits from abroad are taken home. Cost reduction efforts decreased operating income by ¥940 billion largely due to the impact of soaring materials prices which accounts for ¥1 trillion 110 billion. Marketing efforts increased operating income by ¥300 billion. Continue reading →

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US Made Semiconductors – GM, GlobalFoundries Ink Deal

Posted on 9 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on US Made Semiconductors – GM, GlobalFoundries Ink Deal

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General Motors Co. (NYSE: GM) and GlobalFoundries* (NASDAQ: GFS) today announced a long-term agreement establishing a dedicated capacity corridor exclusively for GM’s chip supply. In what likely is an unprecedented agreement, GF will manufacture for GM’s key chip suppliers at GF’s advanced semiconductor facility in upstate New York thereby returning a critical process to the US. It is consistent with GM’s strategy to reduce the number of unique chips needed to power progressively complex and technology filled vehicles. Chips can be produced in higher volumes and are expected to offer better quality and predictability.

“I have long said that Upstate New York’s semiconductor corridor will be a major engine powering America’s technological future, and now ‘Made in New York’ chips will help jumpstart the next generation of vehicles for GM across the country,” said U.S. Senate Majority Leader Charles Schumer. Schumer of course we key in developing and passing the Biden Administration’s bi-partisan CHIPS and Science Act, which is bringing  manufacturing back to US supply chains. Continue reading →

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Salt Lake City Motorcars Now Automobili Pininfarina Dealer

Posted on 8 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Salt Lake City Motorcars Now Automobili Pininfarina Dealer

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Italian carmaker Automobili Pininfarina* has appointed Salt Lake City Motorcars as its newest retail partner in North America as it continues to expand its global network,  brand owner Mahindra & Mahindra said today. The appointment means Automobili Pininfarina clients can use one of 11 retailers across the United States and Canada. (autoinformed.com on:Automobili Pininfarina: Battista Hyper GT Starts Production; Automobili Pininfarina Adds Dealers in North America)

As deliveries of the pure-electric Battista** hyper GT continue, Automobili Pininfarina Salt Lake City is led by Dealer Principal Tom Buckley. “He and his team will provide a highly personalized client experience to prospective and current owners,” Pininfarini said in a release. Continue reading →

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Chevrolet Tweaks Trailblazer SUV for 2024

Posted on 8 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Chevrolet Tweaks Trailblazer SUV for 2024

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Chevrolet said today that the 2024 model year TrailBlazer will come in LS, LT, ACTIV and RS trims with optional AWD. Push-button start, cruise control and HD Rear Vision Camera (1) are now standard on all trim levels of the small SUV.

New for the 2024 model year are 11-inch-diagonal center display and an 8-inch-diagonal Driver Information Center. The front fascia, exterior lighting and grille designs vary by trim. New exterior colors are Copper Harbor Metallic and Cacti Green. The RS has blacked-out exterior cues, a unique mesh grille, dual exhaust outlets with chrome tips, and 19-inch wheels. Continue reading →

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Mercedes Donates Emergency Earthquake Aid in Turkey, Syria

Posted on 8 February 2023 by Ken Zino

Mercedes-Benz Group said in Stuttgart today that it is donating one million euros to the German Red Cross (GRC) for the people in Turkey and Syria affected by the severe earthquakes.

The donation will be used for emergency humanitarian aid on the ground in order to quickly provide the suffering population with the bare necessities. The relief operation of the GRC has already started. Mercedes-Benz is in contact with major aid organizations. Continue reading →

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Genesis Slowly Expanding US EV Sales

Posted on 7 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Genesis Slowly Expanding US EV Sales

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Genesis announced today the expansion of electric vehicle sales at some retailers located in Colorado. This is another baby step taking Genesis closer to its commitment to have a fully electrified US lineup by 2030. With this expansion, the 2023 Genesis GV60 SUV is currently available at select retailers in Arizona, California, Colorado, Connecticut, Nevada, New Jersey, New York, Utah, and Washington.

The 2023 Genesis Electrified G80 sedan is available at some U.S. retailers in Arizona, California, Colorado, Connecticut, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Utah, Virginia, and Washington. (autoinformed.com on: Restricted Sale of Genesis GV60 EV Starts Today at $60,000; Genesis Opens First US Standalone Retail Store; Genesis Electrification Follows Hyundai Motor Group Ideas) Continue reading →

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US Trade Deficit Grows in 2022 as Economy Recovers

Posted on 7 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on US Trade Deficit Grows in December 2022 as Economy Recovers

The US remains a healthy major global player in trade. Click to enlarge.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.4 billion in December, up $6.4 billion from $61.0 billion in November, revised. December exports were $250.2 billion, $2.2 billion less than November exports. December imports were $317.6 billion, $4.2 billion more than November imports. The December increase in the goods and services deficit showed an increase in the goods deficit of $7.4 billion to $90.6 billion and an increase in the services surplus of $1.0 billion to $23.2 billion.

For 2022, the goods and services deficit increased $103.0 billion, or 12.2% from 2021. This is the largest deficit on record as the economy continued to recover as consumers and businesses purchased higher amounts of machinery, car components, industrial supplies, medicines among other things. Exports increased $453.1 billion or 17.7% . Imports increased $556.1 billion or 16.3% helped by the purchasing of a strong dollar. Continue reading →

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Flying Hyundai Tucson, Santa Cruz Roof Moldings Recalled

Posted on 6 February 2023 by Ken Zino

Hyundai Motor America is recalling 2022 Tucson and 2022-2023 Santa Cruz crossover SUVs, the National Highway Traffic Administration said today in a filing just made public. The roof moldings of vehicles made at Hyundai Motor Manufacturing Alabama may have defective attachment hardware made by Keumgang in South Korea and fly off the vehicle. There are no confirmed crashes, injuries, or fire related to this safety defect, according to Hyundai.

Dealers will inspect and replace, or secure the roof moldings, as necessary, free of charge as required by US safety regulations. Owner notification letters are expected to be mailed 1April 2023. Owners may contact Hyundai customer service at 1-855-371-9460. Hyundai’s number for this recall is 241. Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.nhtsa.gov about NHTSA recall 23V038000. Continue reading →

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January 2023 Western EU Passenger Vehicles Sales Plunge

Posted on 6 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on January 2023Western EU Passenger Vehicles Sales Plunge

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Well, the party’s over. The Western European passenger vehicles selling rate (SAAR) fell from 13.1 million units annually in December to 10.7 million units/year in January 2023, according to the latest analysis published by the respected LMC consultancy.* LMC noted that the 2022 year‐end had a stronger selling rate in part due to legislation changes pulling forward sales. However, in monthly registration terms, January 2023 was up 9.8% year‐on‐year (YoY), at 810k units.

“Vehicle supply constraints continues to persist into 2023 for West European countries as the demand for vehicles still outweighs supply. However, our forecast assumes that the production bottlenecks will ease during 2023, resulting in YoY growth in registrations for the year. That said, the market is expected to remain some way down on 2019 levels. From a macroeconomic point of view, West European countries are experiencing recessionary conditions, with higher prices and interest rates squeezing real household incomes. Although a clear downside risk to the outlook comes in the form of a more pronounced macroeconomic decline, order backlogs provide some cushion to this,” LMC said.
 Continue reading →

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Renault and Nissan, Mitsubishi Alliance to Restructure

Posted on 6 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Renault and Nissan, Mitsubishi Alliance to Restructure

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Renault, Nissan and the Alliance today said that they are taking new steps to increase value for stakeholders. These include operational projects in Latin America, India and Europe; enhanced strategic agility with new initiatives that partners can join; and a re-balanced Renault Group-Nissan cross-shareholding and reinforced Alliance governance. These have been approved by the Boards of Directors of Renault Group and Nissan Motor.

The transactions contained in the agreements would be subject to regulatory approvals, and completion is expected to occur in the fourth quarter of 2023. In the tangled web of individual country industrial policy this brings some measure of stability to a global, multi-national, politically diverse enterprise as the movement to electrified vehicles and other earth-saving technologies continues. The 24-year-old Alliance covers 100% of the world’s major global vehicle markets with Euro 85 billion in annual purchases. It already shares 60% of its vehicle platforms, and up to 90% of EV architectures, noted Jean-Dominique Senard, Chairman of the Alliance Board at the press conference. The upside for all is survival in a difficult environment, in our view. Senard also said that the French State is completely behind the agreement. Continue reading →

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Alpine, Audi, Ferrari, Honda, Red Bull Ford, Mercedes-AMG are V6 Power Unit Suppliers for Formula One in 2026

Posted on 3 February 2023 by Ken Zino
Ken Zino of AutoInformed.com Alpine, Audi, Ferrari, Honda, Red Bull Ford, Mercedes-AMG are V6 Power Unit Suppliers for Formula One in 2026

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The FIA today confirmed that six manufacturers have registered as Power Unit Suppliers for the 2026-2030 seasons of the FIA Formula One World Championship (Fédération Internationale de l’Automobile). The list raises several questions.

AutoInformed suspects that we will ultimately hear from General Motors and Honda, perhaps as suppliers to the New Andretti Formula One Team that is currently under FIA consideration. Also will Aston Martin stay with Mercedes? And who will Audi supply or will it just be the factory team? Sauber is the current selected future strategic partner for Audi’s campaign in the FIA Formula 1 World Championship from 2026 onwards. (autoinformed.com on: GM, Andretti Global to Seek Formula One Cadillac Entry) Continue reading →

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US Light Vehicles Sales in January 2023 Weak at 1 Million

Posted on 3 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on US Light Vehicles Sales in January 2023 Weak at 1 Million

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US Light Vehicle sales totaled 1.04 million units in January, according to data just released by LMC Automotive.* This is a Year-over-Year gain of 4.5%, with the same number of selling days as in January 2022. Nevertheless, January 2022 was the first January to fail to reach 1 million units since 2012. LMC put it succinctly: “if we excluded last year, January 2023 would be the worst opening month of the year since 2014.”

The usual problems remain – record high transaction prices, economic uncertainty, the Federal Reserve’s determination to send the economy into a recession via its ongoing interest rate increases, skimpy inventory caused by supply chain disruptions for some major automakers, notably Ford and Toyota – all make for a rerun of the flop show Pandemic Blues. So good luck reopening that show in 2023 with the same cast and plot. Continue reading →

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Acura, Honda Takata Airbag Recall Upgraded to Do Not Drive

Posted on 3 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Acura, Honda Takata Airbag Recall Upgraded to Do Not Drive

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Honda today issued a “Do Not Drive” warning for 2001-2003 Acura and Honda vehicles equipped with un-repaired Takata Alpha driver side air bag inflators. If you own one of these vehicles and still have an open Takata air bag recall, do not drive it until this urgent, lifesaving recall has been completed.

The National Highway Traffic Safety Administration, aka NHTSA, urges vehicle owners to immediately check to see if their vehicle has an open Takata air bag recall. If it does, owners need to contact their dealership or Acura/Honda customer service to schedule a FREE repair as soon as possible, as well as free towing or mobile repair. Free loaner and rental vehicles are also available, if needed. Continue reading →

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Biden Recovery – Unemployment at Lowest Level in 54 years

Posted on 3 February 2023 by Ken Zino

Today, the U.S. Department of Labor’s Bureau of Labor Statistics released the monthly Jobs Report which shows the unemployment rate has dropped to 3.4% with more than a half million jobs created in January and 800,000 manufacturing jobs created in the last two years.

This follows the Commerce Department’s Bureau of Economic Analysis  in January that Gross Domestic Product (GDP) grew at 2.9% for the last quarter of 2022 and that real wages were higher last month than they were seven months ago. Continue reading →

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