Click for more information.
Praga has revealed its all-new road-legal hypercar in pre-production prototype form.
The high-performance, low-volume Praga Bohema is a ~2204 pound, mid-engine, 700-horsepower two-seater that is said to be capable of extreme high performance on a track targeting GT3 race car lap times on its semi-slick Pirelli Trofeo tires and a body that provides 1984 pounds of downforce at 155 mph. Top speed is just over 186 mph. Continue reading
The Securities and Exchange Commission today charged Goldman Sachs Asset Management, L.P. (GSAM) for policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance ( aka, ESG) investments.
To make the charges go away, GSAM agreed to pay a $4 million penalty. AutoInformed notes with no insider knowledge of this matter whatsoever or holdings of Goldman products to the best of its knowledge, that this is a minor parking ticket. Could it be that the SEC was perhaps lagging in its regulatory duties under the previous administration, and is now using this as a public relations ploy as it plays catch-up monitoring such investments? Continue reading
Ford Motor Company’s (NYSE: F) quality struggles continue as NHTSA today said that the Blue Oval is recalling more than 453,000 F-Series pickup trucks , Ford’s most popular vehicle in the US. The front windshield wiper motor may become inoperative, causing the wipers to fail. Trico Componentes in Mexico made the defective motor.
Some of the vehicles recalled were previously recalled for the same problem. NHTSA appears to have played a strong part in the latest recall because of complaints from people to NHTSA.* The newest NHTSA recall Campaign Number is 22V842000.
Continue reading
Click for more information.
While Porsche is celebrating the world premiere at the Los Angeles Auto Show this week of the new Porsche 911 Dakar, a Honda Ridgeline Baja Race Truck took Class 7 honors for the second consecutive year in the 55th running of the Baja 1000, which ended yesterday.
Welcome to the confusing world of performance car and truck racing and production car and truck marketing. There are clear differences in the vehicles, but the promotional aspects are virtually identical. Continue reading
Click for more information.
The California Air Resources Board has approved amendments to the In-Use Off-Road Diesel-Fueled Fleets Regulation (Off-Road Regulation) aimed at further reducing emissions from the off-road sector.
The amendments will require fleets to phase-out use of the oldest and highest polluting off-road diesel vehicles in California; prohibit the addition of high-emitting vehicles to a fleet; and require the use of R99 or R100 renewable diesel in off-road diesel vehicles. These vehicles are the second largest mobile source of NOx in California, only exceeded by trucks on roads and highways, aka on-road trucks. Continue reading
Click for more information.
Subaru of America will globally show the sixth-generation 2024 Impreza at the Los Angeles Auto Show. The 5-door hatchback arrives at Subaru retailers this spring.
The Impreza debuted 30 years ago at the 1992 Los Angeles Auto Show as a compact car with optional Subaru Symmetrical All-Wheel Drive. Impreza was the only vehicle at the time to offer all-wheel drive, albeit as an option long before the Subaru WRX performance car appeared with rally racing championships spanning four decades supporting it.
Continue reading
Click for more information.
The Toyota bZ Compact SUV Concept will make its world premiere at the 2022 Los Angeles Auto Show at the LA Convention Center. Like all concepts it purports to be a glimpse of what the production Toyota bZ (Beyond Zero) will be. This one by AutoInformed’s close inspection is really the production version, albeit with prototype parts.
“We’ve only just begun to scratch the surface of the Beyond Zero moniker,” said Toyota group vice president and general manager David Christ. “With an aerodynamic design coupled with intuitive tech features never before seen in a Toyota model, the bZ Concept showcases another possible vision of the very near future with our battery electric vehicles.” Continue reading
Click for more information.
General Motors (NYSE: GM) at its annual investors’ meeting in New York City significantly raised its 2022 financial results predictions. GM now projects full-year 2022 adjusted automotive free cash flow will increase to $10-11 billion from its previous guidance of $7-9 billion. GM now projects 2022 EBIT-adjusted for the full year will be in a range of $13.5-14.5 billion, compared to its previous guidance of $13-15 billion.* GM also provided farther out performance indicators for shareholders. **
During 2023, GM said “Chevrolet and GMC will press their advantage in the pickup market with the new 2024 Chevrolet Silverado HD and GMC Sierra HD, which will be available in the first half of 2023, as well as the new Chevrolet Colorado and GMC Canyon mid-size pickups.” Continue reading
The US Department of Transportation has imposed what it claims are historic enforcement actions against six airlines, which collectively paid more than half a billion dollars to people who were owed a refund due to a canceled or significantly changed flights. More than $600 million in refunds were returned to airline passengers under DOT rules backed by the unusual enforcement actions.
In a mumbled ‘two cheers for US flag carriers,’ only one US airline was fined – Frontier. Collectively, six airlines were only fined $7.25 million in total much to the dismay of the many consumer groups critical of airline practices. Frontier at a $2.2 million penalty paid the largest fine. Continue reading
A Chinese government intelligence officer was sentenced to 20 years in prison today for espionage crimes and attempting to steal trade secrets from a Cincinnati aviation company. The Department of Justice said it was the first Chinese government intelligence officer ever to be extradited to the United States to stand trial.
Yanjun Xu, 42, was sentenced to 20 years in prison. According to court documents, Xu targeted American aviation companies, recruited employees to travel to China and solicited their proprietary information, all on behalf of the People’s Republic of China (PRC). The Justice Department and the FBI of course are involved in other grave national security matters that if or when indictments come won’t require extradition of the alleged offender and co-conspirators from Mar-a Lago or other US locations. Continue reading
Click for more Information.
The California Air Resources Board today proposed an aggressive climate action plan that drastically reduces fossil fuel dependence, slashes pollution, cuts greenhouse gas emissions by 85% It’s the latest blow to the well-funded lobbyists of Big Oil, climate-change deniers and other special interests. The plan will cut air pollution by 71%, reduce fossil fuel consumption by 86%, and reach carbon neutrality by 2045.
Since California is the fourth largest economy in the world*, it will have a tremendous impact on other US States and international economic blocks as the demand created for cleaner fuels and methods will be a so-called virtuous circle that encourages innovation and then adoption of what emerges for economies of scale. Continue reading
Nel Hydrogen US, a subsidiary of Nel ASA* (Nel, OSE: NEL), has entered into a joint development agreement with General Motors (NYSE: GM) to help accelerate the industrialization of Nel’s proton exchange membrane (PEM) electrolyzer platform, the companies said today in a joint release.** (AutoInformed.com on GM Plans to Expand Fuel Cell Sales Beyond Vehicles)
PEM membrane. Click for more information.
A PEM fuel cell is structured like a sandwich. In the center is a thin plastic film, the Proton Exchange Membrane (PEM). This is coated on both sides with a catalyst layer and a gas permeable electrode of graphite paper. The membrane is surrounded by two bipolar plates with milled gas ducts. Through these ducts flows hydrogen one side, and oxygen on the other. Several individual fuel cells are stacked to produce CO2 free energy.
A PEM electrolyzer and a fuel cell are largely based on the same principles. A PEM electrolyzer uses electricity and water to produce hydrogen and oxygen, while a fuel cell reverses the process, using hydrogen and oxygen to produce electricity and water. As GM has increased expertise with fuel cells, the two companies see substantial synergies by transferring this to Nel’s PEM platform.” Continue reading
At 86 million units annually, October’s Global Light Vehicle (LV) selling rate was consistent with July, according to data just released by the respected LMC Automotive* consultancy. October’s meager sales of 7.1 million units was nonetheless an improvement of 10% YoY (year‐on‐year).
Year-to-date (YTD) sales are off ~1% compared to the weak covid-afflicted base of the 2021 plague. “Despite China experiencing a third consecutive month of slowing selling rates, YTD sales were up 8%. However, North America and Europe continue to struggle YTD as supply constraints hamper performances ahead of worsening macroeconomic conditions,” LMC observed. Continue reading
Click for more info.
Tesla is recalling more than 40,000 2017-2021 Model S and Model X vehicles because the electronic power assist steering (EPAS) system may experience a loss of power steering assist when driving on rough roads or after hitting a pothole.
The latest recall was made public in a filing with the National Highway Traffic Safety Administration made public today. Teslas built in Fremont CA and in use in North America, Europe, Australia, Hong Kong, South Korea, Taiwan, Macau and New Zealand are covered by this safety defect. Continue reading
November US New Vehicle Sales Forecast Record Consumer Spending of $42.8B. Global Sales Good, but Fluid
Retail sales of new vehicles this month are expected to reach 933,400, a 0.3% decrease from November 2021, according to a joint forecast from J.D. Power and LMC Automotive just released. November 2022 has one additional selling day than November 2021. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 3.8% from 2021.
New-vehicle transaction prices continue to rise, but slower than earlier this year. The average price in November will set a record for the month of $45,872, an increase of 3.1% from a year ago. The record transaction prices mean that buyers are predicted to spend nearly $42.8 billion on new vehicles this month, the highest level ever for the month of November and a 7.0% increase from November 2021 as the Biden Administration recovery continues. Continue reading →