President Biden at COP 27 Pledges US Leadership on Solving the Climate Crisis

Posted on 11 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on President Biden at COP 27 Renews US Leadership on Solving the Climate Crisis

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Today at the 27th U.N. Climate Conference (COP27), President Biden pledged new initiatives to strengthen US leadership on confronting the climate crisis (see 1 below). The President also called for global action and commitments to help developing countries cope with the problems that were created by industrialized nations.

The Biden plan also will continue and support the global auto industry’s nascent but fast-growing moves to take climate change seriously. President Biden said he believes that tackling the climate crisis and keeping the 1.5-degree C temperature goal within reach requires “all hands on deck” demanding the mobilization of local, state, and national governments, the private sector, and philanthropies. Continue reading →

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Nissan Motor Posts ¥156.6B Profit

Posted on 11 November 2022 by Ken Zino

Nissan Motor Corporation has announced financial results for the six-months ended September 30, 2022, and revised upward its full-year revenue and profit outlook for fiscal 2022. Consolidated net revenue increased by ¥715.3 billion to ¥4.66 trillion, with consolidated operating profit rising ¥17.5 billion to ¥156.6 billion, representing an operating profit margin of 3.4%. Net income (1) was ¥64.5 billion down ¥17.4 billion, from the previous year due to a one-time loss of ¥24.1 billion recorded in the second quarter because of the company’s withdrawal from the Russian market, and a decrease in equity in earnings of affiliates.

In the second quarter, free cash flow from the automobile business was a positive ¥206.6 billion. On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint-venture operation in China, operating profit was ¥212.6 billion, with an operating margin of 4.0%. (2)

Consistent with what other Japanese companies said during earnings week, increased revenue and operating profit were achieved despite “a severe business environment in the first half of the fiscal year, with raw material prices rising sharply and sales volume falling below the previous year’s level due to semiconductor supply shortages and the impact of COVID-related lockdowns in Shanghai, China,” Nissan said. (AutoInformed.com on Honda Posts a Profit of ¥453.4B for First Half FY Results) Continue reading →

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Some Small Cars offer Small Protection in Side Impacts

Posted on 11 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on Some Small Cars offer Small Protection in Side Impacts

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The Insurance Institute for Highway Safety says that seven of 11 small cars tested earn good or acceptable ratings in its new, tougher side-impact test, but four models are rated poor. The Mazda 3 sedan and Mazda 3 hatchback earn good ratings. Five other vehicles: the Nissan Sentra, Toyota Corolla sedan, Toyota Corolla hatchback, Honda Civic sedan and Honda Civic hatchback are rated acceptable. The Kia Forte, Subaru Crosstrek and the Subaru Impreza sedan and wagon are rated poor. (AutoInformed on: New Side-Crash Tests: Few Mid-Size Cars Rated Good)

IIHS created the updated side crash test after research showed that many of the real-world side impacts that still account for nearly a quarter of passenger vehicle occupant fatalities are actually more severe than the original evaluation. Continue reading →

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Hyper Marketing as Mercedes-AMG ONE Sets Nordschleife Record

Posted on 10 November 2022 by Ken Zino

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Mercedes said today that racing driver and Maro Engel at the Nürburgring-Nordschleife set a record time of 6:35.183 minutes for rounding the 20.832-kilometer track for road-legal production vehicles, as well as in the new super sports car category – aka hypercar class. Based on the track variant known as the sport auto Super Test, the lap time is 6:30.705 minutes. The record-breaking drives took place on 28 October 2022. (See the drive video here.) Continue reading →

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Honda Posts a Profit of ¥453.4B for First Half FY Results

Posted on 9 November 2022 by Ken Zino

Despite unfavorable factors such as a decrease in automobile production and unit sales due to the impact of the semiconductor supply shortage and an increase in the cost of raw materials, Honda Group*1 profit was ¥453.4B. This was a year-on-year increase of ¥11.2B. This was due primarily to increased pricing, a reduction of incentives, an increase in motorcycle sales and favorable currency effects, Honda said.

Consolidated profit for the fiscal first half (6 months) attributable to owners of the parent company amounted to ¥338.5B, a year-on-year drop of ¥50.6B due primarily to a decrease in the share of profit of investments accounted for using the equity method. Continue reading →

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Milestones: 75 millionth Opel – Grandland GSe

Posted on 8 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on Milestones:75 millionth Opel - Grandland GSe

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There’s much to celebrate at Opel during its 160th year, including 40 years of the Corsa and 30 years of the Eisenach plant. Today, the Rüsselsheim-based brand, now part of the Stellantis mega-merger, reached a production milestone of 75 million. The 75th million Opel was a hybrid Grandland GSe Jubilee edition* that rolled off the assembly line in Eisenach. (AutoInformed.com on: Stellantis: Record First Half 2022 at €8.0 Billion Net Profit)

Opel recently announced that it would revive GSe as a new sub-brand for electrified models with GSe now standing for Grand Sport electric. The Opel Grandland GSe follows the Astra GSe and the Astra Sports Tourer GSe. Opel claims it is a high-performance, plug-in hybrid with electric all-wheel-drive in the SUV compact class, arguably the fastest growing segment in Europe and Asia. Continue reading →

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CARB – Discounted ZEV Landscape Equipment Offered

Posted on 7 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on CARB - Discounted ZEV Landscape Equipment Offered

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Qualified small business landscape professionals starting today can purchase discounted zero-emission lawn mowers, blowers and other landscape equipment through a new category of funding offered through the California Air Resources Board’s Clean Off-Road Equipment Voucher Incentive Project (CORE).* Administered by CALSTART, the CORE program’s new funding category has an allocation of more than $27 million of voucher funds for professional landscape services operated by small businesses or sole proprietors, CARB said in a release.

Electric versions of lawn mowers and blowers will be welcomed in residential areas since the gasoline powered versions are noisy and constitute an unhealthy noise pollution blight  in AutoInformed’s view. CARB first announced this new funding in October. Continue reading →

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COP27 – Carbon Footprint Reduction Strategies Scrutinized

Posted on 7 November 2022 by Ken Zino

As the United Nations’ annual climate change conference (COP27) starts today in Sharm el-Sheikh, Egypt, many automakers will publicize their efforts to combat global warming. Last year During COP 26 in Glasgow endorsed net-zero emissions for greenhouse gas emissions. Given the extreme climate experiences during the past year, the need for accelerating the net-zero transition will likely be a hotly debated topic in Egypt. UN Secretary-General Antonio Guterres named the US and China as the two biggest problems. In fact, the European Union and India also aren’t meeting their climate change goals. These are the biggest four offending emitters. (read AutoInformed.com on: COP26 – CARB’s Liane Randolph New Chair of Transportation Decarbonisation Alliance)

Fasten your seat belt this is going to be a bumpy ride to save planet earth and the invasive species known as mankind. It will require collective action from all the participants and special interests. Moreover, the debate over how developed nations should support or subsidize less developed ones will likely be rancorous behind the scenes. Continue reading →

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Honda Shows eN2 Concept EV at Shanghai

Posted on 5 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on Honda Shows eN2 Concept EV at Shanghai

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Honda today held the world premiere of the e:N2 Concept, the second set of its e:N Series models, the Honda-brand EV line in China. The e:N2 was on display at the Fifth China International Import Expo that began today in Shanghai, China.

Starting with e:NS1 and e:NP1*, Honda will introduce 10 e:N Series models by 2027 and accelerate electrification in China including its sales and production operations. N2 clearly looks to AutoInformed that it is meant to take on the German automakers who have thrived in the world’s largest vehicle market, no matter the motive source.  In the upscale Chinese market, rear seat room is welcomed by the chauffeured owners be they communist party members or business people. (AutoInformed.com on: Chinese Commerce – Dongfeng Honda Begins Sale of NS1 EV) Continue reading →

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Recharged Heritage to offer MINI EV Conversion

Posted on 4 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on Recharged Heritage to offer Mini EV Conversion

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Recharged Heritage, part of Mini Sport, said today it is taking orders for a conversion of the classic Mini into an electric vehicle. Two prototypes have been completed and previously revealed, the MINI Recharged Paul Smith and MINI Recharged Lakwena.*

 “There have been electric conversions of classic cars before but not like this one. From the start an enormous effort has been made to ensure that the conversion can easily be reversed. The body remains as the original with no new holes and the petrol engine can be put back in, no problem. Also, the car has been engineered so that it weighs no more than the original. The fun factor in driving a classic Mini has been preserved fully intact and you don’t need to buy the whole car. Potential customers can either have their own Classic Mini converted or purchase a model from Recharged Heritage and then have it electrified,” Recharged said in a release.
 Continue reading →

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Mixed Economic Signals in October US Vehicle Sales

Posted on 3 November 2022 by Ken Zino
Ken Zino of AutoInformed.com on Mixed Economic Signals in October US Vehicle Sales

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Now that the final number are in, new US light-vehicle sales in October 2022 showed a Seasonally Adjusted Annual Selling Rate (SAAR) of 14.9 million units, the second-highest monthly total this year. It was up 12.7% compared to  October 2021 and increase 9.8% from September 2022.

The average transaction price in October, according to J.D. Power, is forecast to be $45,599, a 2.7% increase year-over-year. However, this is only off $26 from September. The old economist’s adage that prices are sticky downward applies we think. Transaction price highs of +$46,000 were experienced during July and August.  Continue reading →

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US Sales Bolster Subaru First Half Results adding 56B Yen

Posted on 2 November 2022 by Ken Zino

Subaru Corporation today in Tokyo announced its consolidated financial results for the first half of the Japanese fiscal year ending 31 March 2023. During April through September 2022, production constraints continued due to the global shortage of semiconductors, however global production increased 24.5% to 425,000 units as plans were “flexibly adjusted.”

Production in Japan rose 29.9% to 283,000 units, while production in the U.S. grew 15.0% to 143,000 units. As a result of increased production, global vehicle sales increased 6.2% to 399,000 units, led especially by Subaru’s key US market. Due to the effects of foreign exchange rates, the growth in vehicle sales, and other factors, consolidated revenue rose 30.5% to 1,750.9 billion yen*.
 Continue reading →

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US October Light Vehicle Sales Grow 11.4% to 1.2 Million

Posted on 2 November 2022 by Ken Zino

According to data just released by LMC Automotive,* US light vehicle sales grew by 11.4% Year-over-Year in October to 1.17 million units. While the YoY comparison continues to be “flattered by a low base, as the market struggled a year ago with dwindling inventory, October 2022 had one fewer selling day than October 2021, making last month’s performance somewhat more impressive,” LMC said.

The October selling rate was 15.1 million units/year from 13.4 million units/year in September. This was only the second time that the rate has exceeded 15 million units/year in 2022. The daily selling rate is estimated at around 44,900 units/selling day, up from 44,300 units/selling day in September. According to preliminary estimates, retail sales totaled around 1,016,000 units, compared to 955,000 units in September. This, if accurate, means that retail sales topped 1 million units for the first time since April. LMC converts this to an 87% total market share for retail sales. Continue reading →

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Ford Motor US Sales Drop 10% during October 2022

Posted on 2 November 2022 by Ken Zino

Ford Motor Company said today that its US vehicles sales at 158,327 during October of 2022 dropped 10% compared to the prior year, which was plagued by low inventory problems. Ford also claimed it remains the No. 2 EV brand behind Tesla in the US, although other automaker results for the month are not yet available. Preliminary data indicate the market grew by ~10%. GM sales were up ~50%. Ford said that Super Duty orders were ~50,000 in five days. (AutoInformed on: Ford – $700M to Louisville Plant for 2023 Super Duty Pickup; Ford Motor Posts Q3 Net Loss of $827 Million)

A look at the sales by model reveals that Ford is now essentially a truck and SUV maker with dwindling car sales of ~41,000 year-to-date. Lincoln sold no cars at all ytd. Mercedes Benz posted a huge increase in sales of  more than 50%. The difficulty in analyzing what the data mean comes from what sales were from previously placed orders, and when the US will return to a normal sales environment, which might be undefinable at this time. Ford no longer holds sales calls for media and analysts. Continue reading →

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GAC-FCA JV to File for Bankruptcy

Posted on 31 October 2022 by Ken Zino
Ken Zino of AutoInformed.com on Tilt! Stellantis and GAC to Stop Jeep China JV

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Shareholders of the GAC-FCA Joint Venture, Automobile Group Co., Ltd. and Stellantis N.V., have approved a resolution authorizing the JV to file for bankruptcy, in a loss-making context. Stellantis fully impaired the value of its investment in the GAC-FCA JV and other related assets in its first half 2022 financial results. Stellantis will continue providing services to existing and future Jeep® brand customers in China,” Stellantis (NYSE / MTA / Euronext Paris: STLA) said in a statement this morning.  

Stellantis, the mega-merger between FCA and PSA, said last July that the “lack of progress in the previously announced plan for Stellantis to take a majority share in their joint venture” has resulted in the GAC Group and Stellantis to start figure out how to terminate the joint-venture that produces and distributes Jeep products in China. (read AutoInformed.com on: Tilt! Stellantis and GAC to Stop Jeep China JV ) Continue reading →

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