TMC Honorary Chairman Shoichiro Toyoda Passes at 97

Posted on 14 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on TMC Honorary Chairman Shoichiro Toyoda Passes at 97

Shoichiro Toyoda – 1925-2023.

“With great sadness Toyota Motor Corporation (TMC) announced the passing of TMC Honorary Chairman Shoichiro Toyoda this morning in Nagoya. Shoichiro Toyoda died at 4:48 pm on 14 February 2023 of heart failure. He is survived by Akio Toyoda his eldest son. TMC plans to hold a farewell gathering for Honorary Chairman Toyoda at a later date.

Shoichiro Toyoda was born 27 February 1925 in Nagoya City, Aichi Prefecture. He graduated from Nagoya University in September 1947 with a degree in engineering and joined Toyota Motor Corporation (TMC) in July 1952. He later earned an engineering doctorate, writing his thesis on the subject of fuel injection. Continue reading →

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Michigan Chemistry – Ford to Spend $3.5B on LFP Battery Plant

Posted on 13 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Michigan Chemistry - Ford to Spend $3.5B on LFP Battery Plant

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Ford Motor (NYSE: F) announced today a badly kept secret that it is investing $3.5 billion to build the first automaker-backed lithium-iron-phosphate battery (LFP) plant in Michigan or the US. The plant – called BlueOval Battery Park Michigan – will employ 2500 people when production of batteries begins in 2026. The LFP plant will add ~35 gigawatt hours (GWh) of LFP battery capacity. Ford will have the option expand battery capacity the plant, which will be part of a wholly-owned Ford subsidiary.

“Ford’s $3.5 billion investment creating 2,500 good-paying jobs in Marshall building electric vehicle batteries will build on Michigan’s economic momentum,” said Michigan Governor Gretchen Whitmer. “Today’s generational investment by an American icon will uplift local families, small businesses, and the entire community and help our state continue leading the future of mobility and electrification. Let’s continue bringing the supply chain of electric vehicles, chips, and batteries home while creating thousands of good-paying jobs and revitalizing every region of our state. Since I took office, we’ve secured over 30,000 auto jobs and landed multiple electric vehicle and chip-making factories. We’re on the move, so let’s keep our foot on the accelerator.” Continue reading →

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New Toyota Motor President Koji Sato on Evolution

Posted on 13 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on New Toyota Motor President Koji Sato on Evolution

The starting lineup

Toyota Motor Corporation announced in January that Chairman Takeshi Uchiyamada will resign his post, President Akio Toyoda will be appointed chairman, and Operating Officer Koji Sato will be appointed president, effective April 1, 2023. Today in Tokyo, incoming president Koji Sato expanded on his role and the new senior team.

“The hallmark of our management as a team, like a soccer team, will be flexibility in changing formation. Underlying this are the concepts of having the right person in the right place and emphasizing roles over titles,” Sato said. Continue reading →

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Tech-Aches – J.D. Power 2023 U.S. Vehicle Dependability Study

Posted on 11 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Tech-Aches – J.D. Power 2023 U.S. Vehicle Dependability Study

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The J.D. Power 2023 U.S. Vehicle Dependability StudySM reports an industry average of 186 problems per 100 (PP100) vehicles, an improvement of 6 PP100 from 2022.* The widely-cited study just released examines how 2020 model-year vehicles are currently performing in terms of quality, component replacement and appeal, including those vehicles with new technology.

Continuing a long running trend, vehicles with higher levels of technology have more problems than simpler, mass-market ones. A lower PP100 (problems per 100 vehicles) denotes higher performance or better-quality rates.**
 Continue reading →

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Subaru Recalls the Solterra EV Recall for Wheels Falling Off

Posted on 10 February 2023 by Ken Zino
Ken Zino of AutoInformed.com on Subaru Recalls the Solterra EV Recall for Wheels Falling Off

Nice wheels, bad assembly…

Subaru of America today announced a safety recall on 2023 Subaru Solterra vehicles. The safety defect affects 1182 model year 2023 Subaru Solterra models that were made by Toyota, which also recalled sibling bZ4X models last June.

These Subaru vehicles were part of that earlier recall (NHTSA Campaign Number: 22V444000) requiring the replacement of original hub bolts so the wheels didn’t fall off. Do not drive a Solterra until the inspection and repair is completed. (autoinformed.com on: Toyota Subaru JV Spawns Global Debut of Solterra EV; Subaru 2023 Solterra Electric SUV Starts at $46,220) Continue reading →

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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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