Bugged – BMW EV Software Recall on 14,000 Vehicles

Posted on 10 January 2023 by Ken Zino

BMW of North America recalling 2022-2023 iX xDrive40, iX xDrive50, iX M60, i4 eDrive35, i4 eDrive40, i4 M50, and 2023 i7 xDrive60 vehicles because the high voltage battery electronic control unit (ECU) software may cause an interruption of electrical power. With the bug-affected software, monitoring of the high-voltage battery charging process may be affected.

This could lead to an interruption during high-voltage battery charging, a temporary loss of power while driving, or stalling. In the required NHTSA filing, BMW stated  ~1% of the recalled vehicles are affected. The potential safety problem fist occurred in China last June. Continue reading →

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Virtual Power Plant Partnership – Ford, GM, SunPower, Others

Posted on 10 January 2023 by Ken Zino
Ken Zino of AutoInformed.com on Virtual Power Plant Partnership – Ford, GM, SunPower, Others

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RMI today announced the expansion of the Virtual Power Plant Partnership. This non-profit organization led by the Rocky Mountain Institute is looking to accelerate global energy transformation. A virtual power plant, aka VPP* or the comingVP3** combines and coordinates distributed energy resources “to benefit all those who rely on the electric grid.”

It involves hundreds or thousands of households and businesses that offer the concealed potential of their electric vehicles (EVs), smart thermostats, appliances, batteries, and solar arrays to support the grid. It wants to transform policy to support scaling VPPs in ways that help advance affordable, reliable electric sector decarbonization by overcoming barriers to VPP market growth. Continue reading →

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Infected – November 2022 US Aviation Fuel Consumption Down

Posted on 10 January 2023 by Ken Zino
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The Department of Transportation’s Bureau of Transportation Statistics (BTS) today released US airline November fuel cost and consumption numbers that show US scheduled service airlines used 1.398 billion gallons of fuel, 2.5% less fuel than in October 2022 (1.434 billion gallons) and 3.2% less than in pre-pandemic November 2019.*

The cost per gallon of fuel in November 2022 ($3.32) was down 13 cents (3.8%) from October 2022 ($3.45) and up $1.33 (66.8%) from November 2019. Total November 2022 fuel expenditure ($4.64B) was down 6.2% from October 2022 ($4.95B) and up 61.5% from pre-pandemic November 2019. Costs are in current dollars and are not adjusted for inflation. Continue reading →

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Mercedes-Benz Recalls 324,000 Vehicles for Sudden Stalling

Posted on 9 January 2023 by Ken Zino

Mercedes-Benz USA (MBUSA) is recalling ~324,000 vehicles* for sudden stalling. “Water might accumulate in the spare tire wheel well and damage the fuel pump control unit, which could cause an engine stall while driving,” Mercedes said in the required filling made public today by the National Highway Traffic Safety Administration.

Covered are the so-called GLE/ML (166 platform) and GLE Coupe (292 platform) vehicles. “Depending on the amount of water that has entered the spare wheel well, the accumulated water could intermittently contact the fuel pump control unit,” Mercedes said. Continue reading →

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EV Battery Gold Rush Down Under – Stellantis and Element 25

Posted on 9 January 2023 by Ken Zino
Ken Zino of AutoInformed.com on EV Battery Gold Rush Down Under - Stellantis and Element 25

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Stellantis N.V.* (NYSE / MTA / Euronext Paris: STLA) and Element 25 Limited (ASX: E25) announced today the signing of an agreement for Element 25 to supply battery grade, high purity manganese sulphate monohydrate to Stellantis for use in electric vehicle (EV) battery packs. The five-year agreement calls for shipments to begin in 2026, a total volume of 45 kilotons, and options to extend the supply term and volumes.

The deal with Element 25 – similar to ongoing EV battery supply chain moves at other automakers –  is key to Stellantis’ stated electrification strategy, which includes securing substantial supplies of raw materials for battery electric vehicle (BEV) production. Manganese is a stabilizing element in the cathode of EV batteries. Continue reading →

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Penske Automotive Group SEC 8K Filing – Cuts Credit Costs

Posted on 6 January 2023 by Ken Zino
Ken Zino of AutoInformed.com on latest Penske Automotive Group SEC 8K filingSee Autoinformed.com on: Hot, Fast Company: Penske Automotive Increases Dividend 6%; and Penske Motorsport Heads List of Porsche 963 WEC and IMSA Contenders During 2023. A New Golden Age of Racing?

Another win for Penske.

The Penske Automotive Group (NYSE:PAG)* just filed this with the Securities and Exchange Commission (SEC): “On January 1, 2023, we entered into the Ninth Amendment (the “Amendment”) to our U.S. credit agreement with Mercedes-Benz Financial Services USA LLC and Toyota Motor Credit Corporation (as amended, the “U.S. Credit Agreement”) to decrease our non-use fee payable on available but unused credit commitments (other than commitments to issue letters of credit) from 0.30% per annum to 0.20% per annum.

“The U.S. Credit Agreement provides for up to $800.0 million in revolving loans for working capital, acquisitions, capital expenditures, investments, and other general corporate purposes, and provides up to an additional $50.0 million of letters of credit. The U.S. Credit Agreement provides for a maximum of $150.0 million of borrowings for foreign acquisitions and expires on September 30, 2025. The interest rate on revolving loans is LIBOR plus 1.50%, subject to an incremental 1.50% for uncollateralized borrowings in excess of a defined borrowing base. Continue reading →

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US December Unemployment at Record Low of 3.5%

Posted on 6 January 2023 by Ken Zino

The Bureau of Labor Statistics reported today that the American economy added 223,000 jobs in the month of December as the unemployment rate fell to a historic low of 3.5% as more people entered the workforce and the Biden Administration recovery continued. Notable job gains occurred in leisure and hospitality, health care, construction, and social assistance sectors. The unemployment rate at 3.5% in December has remained in a narrow range of 3.5% to 3.7% since March. The number of unemployed persons was down to 5.7 million in December.

Nevertheless, the Federal Reserve seems determined to send the US economy into a deep recession. The Fed has done this in the past with reckless interest rate increases from an ideology that thinks it is good when people lose jobs to keep demand and inflation down. However, consider that during December, average hourly earnings for all employees on private non-farm payrolls rose by 9 cents, or a mere 0.3%, to $32.82. During the past 12 months, average hourly earnings have increased by 4.6%. In December, average hourly earnings of private-sector production and non-supervisory employees rose by 6 cents, or 0.2%, to $28.07. AutoInformed doesn’t consider the latest data as cause for inflationary worries, let alone more interest rate increases. (Autoinformed.com: Federal Reserve Chair Powell Says Inflation Remains Too High) Continue reading →

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2022 US Light Vehicles Sales Worst Since 2011

Posted on 6 January 2023 by Ken Zino
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US Light Vehicle sales totaled an estimated 1.28 million units in December, according to an analysis just released by LMC Automotive.* This is a Year-over-Year increase of 7.2%, with the same number of selling days as December 2021. The year end was not one to celebrate, though. During each year between 2014 and 2020, December sales were at 1.5 million units or above. “A combination of ongoing problems with the availability of vehicles and unfavorable economic conditions are keeping the market relatively subdued,” LMC said.

However, December posted the highest volumes of 2022, ahead of March by ~26,000 units. The daily selling rate was estimated by LMC as 47,500 units/selling day, compared to 44,900 units/selling day in November. LMC thinks that shows how the annualized selling rate was affected by historical seasonality rather than the pace of sales necessarily slowing down. According to preliminary estimates, retail sales totaled around 1,057,000 units, unchanged from December 2021, while fleet accounted for approximately 225,000 units, representing 17.6% of the total market. Continue reading →

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Trade Deficit Drops $16 Billion in November 2022

Posted on 5 January 2023 by Ken Zino
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The goods and services deficit was $61.5 billion in November, down $16.3 billion from $77.8 billion in October (revised) the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today.* However, it was because November exports were $251.9 billion, $5.1 billion less than October exports; but November imports were $313.4 billion, $21.5 billion less than October imports.

In short, the US economy stopped buying more imports at an amount greater than its exports increased. Whether this is good or bad depends on your economic ideology. Continue reading →

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Mercedes-Benz to Open a Global EV Charging Network

Posted on 5 January 2023 by Ken Zino
Ken Zino of AutoInformed.com on Mercedes-Benz to Open a Global EV Charging Network. Photo Courtesy of and Copyright Mercedes-Benz

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Mercedes-Benz said today that it will launch a global high-power charging network across North America, Europe, China and other markets. It will begin in 2023 in US and Canada, followed by other regions around the globe. Mercedes-Benz said it wants to have the full network in place before the end of the decade because it plans to go all-electric wherever market conditions allow. The Mercedes-Benz charging hubs will be located in significant cities and urban population centers, close to major arteries, retail and service destinations, including participating Mercedes-Benz dealerships.

General Motors is arguably well ahead of Mercedes in offering charging stations. Even though more public charging stations are in operation than ever, customer satisfaction with public Level 2 charging declined, dropping to 633 (on a 1,000-point scale) from 643 in 2021, while satisfaction with the speedier DC (direct current) fast charger segment remains flat at 674, J.D. Power told AutoInformed last August. (Autoinformed.com on GM to Expand EV Charging – 40,000 Stations, New Smart Chargers; Success Threatens EVs as Public Charging Lacks Juice) Continue reading →

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GM, Andretti Global to Seek Formula One Cadillac Entry

Posted on 5 January 2023 by Ken Zino
Ken Zino of AutoInformed.com on GM, Andretti Global to Seek F1 Cadillac Entry

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Andretti Global and General Motors said today that they will try to enter the insular Formula One cartel with a Cadillac race car. The Andretti Cadillac team would be based in the U.S. with a support facility in the U.K. Viewership of F1 races on ESPN has been growing exponentially lately, but there has been resistance from the ten existing Formula One teams to allow Andretti to field a car. F1 Teams currently run two cars for economies of scale.

F1 has seen growth globally and most recently in the U.S. with 2023 races in Austin, Miami and Las Vegas. Andretti and GM last paired for the return of Chevrolet to the NTT IndyCar Series in 2012, together capturing nine wins across two seasons. The pairing additionally claimed the Driver, Team and Manufacturer titles in 2012. Andretti is currently running Honda engines in the IndyCar series. Oh, Honda knows how to make winning F1 engines. Continue reading →

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GM Canada Sales Up 42% in Q4, 5% During 2022

Posted on 5 January 2023 by Ken Zino

Chevrolet, Buick, GMC and Cadillac dealers delivered 228,003 vehicles in 2022, including 55,724 vehicles in the fourth quarter, up 5% and 42%, respectively. Based on Q4 sales, GM Canada is on track to account for 14.5% of the Canadian market, up 1.8 percentage points compared to 2021.

GM Canada continues to lead in full-size SUV sales, with a total of 19,842 for Chevrolet Tahoe and Suburban, GMC Yukon and Yukon XL, and Cadillac Escalade and Escalade ESV. GM Canada will likely also lead the market in heavy-duty truck sales, with a total of 36,143 sales for Chevrolet Silverado HD and GMC Sierra HD in 2022. Chevrolet posted the brand’s best year ever for the all-electric Chevrolet Bolt and Bolt EUV, with 6,372 total sales. Continue reading →

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Toyota Motor North America 2022 Sales Drop Notably

Posted on 4 January 2023 by Ken Zino

Toyota Motor North America (TMNA) today reported year-end 2022 U.S. sales of 2,108,458 vehicles, a decrease of 9.6% on a volume basis and a decrease of 9.9% on a daily selling rate (DSR) basis compared to 2021. The company reported U.S. fourth quarter 2022 sales of 536,740 vehicles, an increase of 13.1% by volume and DSR compared to the fourth quarter of 2021. U.S. December 2022 sales totaled 180,147 vehicles, an increase of 3.5% in volume basis and DSR compared to December 2021.

“As the industry closes out 2022, we’re expecting the year to end around 13.9 million SAAR. And for 2023, we’re predicting a SAAR to grow to approximately 15 million. And while we still have many of 2022 challenges carrying into 2023, we’re moving in the right direction, and doing whatever we can to get vehicles to our customers as quickly as possible. So, we’re cautiously optimistic about our future,” said Jack Hollis, executive vice president of Toyota Motor North America (TMNA) and president of Toyota Motor Sales. Continue reading →

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Stellantis to Make Archer Electric Airplanes

Posted on 4 January 2023 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis to Make Archer Electric Airplanes - photo courtesy of Archer

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Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Archer Aviation Inc. (NYSE: ACHR) today announced that they have agreed to expand their partnership by joining forces to manufacture Archer’s electric vertical take-off and landing (eVTOL) aircraft called Midnight. Stellantis has been a “strategic partner” to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. During this time, Archer has used Stellantis’ manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop, and commercialize its eVTOL aircraft. (Autoinformed.com: FAA Publishes Guidelines for Vertiports)

Stellantis now will work on Archer’s recently announced manufacturing facility in Covington, Georgia. The companies plan to begin manufacturing the Midnight aircraft in 2024. Midnight is claimed to be safe, sustainable, quiet and, with an expected payload of more than 1000 pounds. It can carry four passengers plus a pilot. With a range of 100 miles, Midnight is meant for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. All this of course is dependent on The Federal Aviation Administration issuing a type certificate and approving other air worthiness requirements including pilot training, flight procedures and operating limitations. Continue reading →

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General Motors Posts US Sales Leadership for 2022

Posted on 4 January 2023 by Ken Zino

General Motors (NYSE: GM) said today that GM and its dealers delivered 2.8 million vehicles in the U.S. in 2022 (+3%), leading the industry in total sales. GM also claimed that it extended its leadership in key market segments including full-size pickups and full-size SUVs.

Industry sales results will be forthcoming during the next couple of days, which will allow for a more nuanced analysis. Continue reading →

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