Volta Trucks Says it Has a US Market Strategy

Posted on 12 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on Volta Trucks Fully-Electric Commercial Zero

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In the world of capital markets and press release EVs, Volta Trucks’ 100% battery electric commercial vehicles are coming to North America it says.  leading the way in 2023 will be a Volta Zero Class 7 truck, the startup claims. This is roughly equivalent to the existing European 16-ton truck, with a dry or refrigerated cargo box.

The Volta Zero is a purpose-built 100% battery-electric medium duty truck specifically designed for urban logistics. The Volta Zero uses an innovative compact eAxle, comprising the electric motor, transmission, and axle all in one unit, supplied by Michigan-based Meritor, and high-voltage batteries located within the chassis rails from California-based Proterra. Continue reading →

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Toyota Annual Results Show Profitability Struggle Goes On

Posted on 11 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Annual Results Show Profitability Struggle Goes On

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Toyota posted its fiscal year 2022 operating results this morning that showed a record full-year net profit on increased sales and a cheaper yen.

However, the world’s largest selling automaker in 2021 made wary forecasts as the Covid pandemic and Putin’s war in Ukraine continue to play havoc with  supply chains. Toyota reported a net profit of 2.85 trillion yen ($22 billion), up 27% percent from 2021. However, for the current  fiscal year ending March 2023, it forecast an annual net profit of 2.26 trillion yen ($17.3 billion).
Continue reading →

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Driverless Cars – People Less Positive Than You Might Assume

Posted on 10 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on Driverless Cars - Americans Less Positive Than You Might Assume

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If you’re like most auto enthusiasts, likely you are comfortable with the progress of technology from manual chokes to feed-back carburetors to port and then direct fuel-injection. When looked at through the windshield of a sports car, electronic shifting and brake by wire via computer controls are just part of the evolving automotive landscape. Driver assistance safety systems and autonomous vehicles are just the latest technical trends made possible by the relentless pace of Automobility funded by the huge transportation universe of designing, testing, manufacturing, marketing and globally selling ~90 million machines each year.

However, aggregated research from Pew* indicates that these technologies raise critical questions about work, the autonomy of human beings and the ethics of a universe dominated by the latter day avatars of Alan Turning’s machines, aka computers. Continue reading →

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California Clean Fuel Incentives Reward 250,000 EV Buyers

Posted on 9 May 2022 by Ken Zino

More than 250,000 Californians have now received a financial Clean Fuel Reward at the point of sale when they purchased or leased a plug-in electric vehicle. This is an important milestone for the program after only 18 months since it began, the California Air Resources Board said today. It’s the latest example of the power of government working with awakened businesses and industry to spur positive change.

CARB and car dealers wanted a program to help support the sale of plug-in cars that made funds immediately available at the dealership, as opposed to other incentive programs that require applications and a waiting period to receive them. Continue reading →

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Renault Group, Plug Power to be at HyVolution Tradeshow

Posted on 9 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on HYVIA unveils hydrogen prototypes

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For the second consecutive year, HYVIA, the JV between Renault Group and Plug Power for  hydrogen mobility, will be at the  HyVolution tradeshow, a growing event for hydrogen professionals in France and Europe.

At the Paris Event Center  11-12 May HYVIA will show  a large light commercial hydrogen vehicle: Master Chassis Cab H2-TECH, created for custom van conversions with a 20-cubic-meter large volume. (AutoInformed on: France – HYVIA JV Unveils First Hydrogen Prototype) Continue reading →

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Transportation Unemployment Rate Below Pre-Pandemic Level

Posted on 6 May 2022 by Ken Zino

The unemployment rate in the U.S. transportation sector* was 3.6% (not seasonally adjusted) in April 2022 according to Bureau of Labor Statistics (BLS) data just updated on the Bureau of Transportation Statistics (BTS) Unemployment in Transportation dashboard.

The April 2022 rate fell 3.9 percentage points from 7.5% in April 2021 and decreased close to the pre-pandemic April level of 3.7% in April 2019. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May and July 2020 under the policies of the voted-out Trump mis-administration.
 Continue reading →

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West European Car Sales Decline in April to 8.8 Million

Posted on 6 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on West European Car Sales Decline in April

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The West European selling rate dropped to 8.8 million units/year in April, from 9.0 million units/year in March, according to the LMC Automotive consultancy.

“Supply chain bottlenecks still the key reason for the depressed level of registration statistics. The war in Ukraine, as well as lock-downs in China, will likely exacerbate supply issues, meaning vehicle sales will continue to suffer from a lack of adequate supply,” LMC said today.

“As a result, most countries in the region recorded double-digit drops in sales, including the four key markets: Spain (-30.2%), Italy (-29.7%), France (-19.5%) and Germany (-17.5%), said ACEA.* About 12.7 million Europeans work in the auto industry (directly and indirectly), or 6.6% of all EU jobs.

Continue reading →

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SEC Charges Autonomous Vehicle Supplier NVIDIA with Shoddy Disclosures

Posted on 6 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on SEC Charges Autonomous Vehicle Supplier NVIDIA with Shoddy Disclosures

Presumably aspects of this case apply to automakers who are vigorously pursuing and promoting autonomous vehicle technologies.

The Securities and Exchange Commission today announced it settled charges against technology company NVIDIA* Corporation for inadequate disclosures concerning the impact of cryptomining on the company’s gaming business. Without admitting or denying the SEC’s findings, NVIDIA agreed to a cease-and-desist order and to pay a $5.5 million penalty.

NVIDIA is a US-based artificial intelligence (AI) computing company that is a significant automotive supplier for an important building block in a network of several individual ECUs (Electronic control units)  used in automated and driverless vehicles. It goes by the name Drive Pegasus. Continue reading →

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BMW Group Post Q1 Earnings of €10.185 Billion

Posted on 5 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on BMW Group Post Q1 Earnings of €10.185 Billion

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The BMW Group during Q1 of 2022 posted today an earnings return before taxes margin of  39.3% compared to 2021 at 14.0% based on a Net Profit of €10.185 billion, up 256%.

The financial results saw Q1 revenues up 16.3% to €31.1 billion (2021: € 26.778 billion). Earnings per share grew to €15.33 from €4.26 a year ago. This significant increase is a result of the full consolidation of Brilliance China Automotive Holdings Ltd., or BBA. Without the consolidation effects, margin was 18.4%. (AutoInformed: BMW Takes Majority Share in Chinese JV Brilliance Automotive) Continue reading →

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CARB Fines PPG for Products Exceeding Air Quality Rules

Posted on 5 May 2022 by Ken Zino

The California Air Resources Board today announced a $299,000 settlement with PPG Industries Inc., a global manufacturer of paints, coatings and specialty materials headquartered in Pittsburgh, PA for the company’s violation of state air quality regulations.

PPG sold, supplied and offered for sale non-compliant paint thinners and aerosol clear-coating products that were manufactured for use in California, but which exceeded the state’s air quality requirements for concentrations of volatile organic compounds. Continue reading →

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Stellantis Posts Q1 2022 Net Increase of 12% at €41.5B

Posted on 5 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Posts Q1 2022 Net Increase of 12% at €41.5B

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In Amsterdam this morning Stellantis said that Q1 results showed a net revenue of €41.5 billion, up 12% compared to €37.0 billion for Q1 202. This was helped by strong pricing and a more expensive vehicle mix, as well as favorable foreign exchange translation effects.

However, consolidated shipments of 1,374,000 units were down 1-2% primarily due to impact of unfilled semiconductor orders. Total new vehicle inventory of 807,000 thousand units was roughly comparable with 31 December 31, 2021. Stellantis inventory was 179,000 units. The positive performance followed an ordinary dividend of €1.04 per share  that approved at annual meeting and paid to shareholders in April 2022. Continue reading →

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US April Sales Up 6.5%. SAAR Down -21.9% YoY

Posted on 4 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on US April Sales Up 6.5% in March. SAAR Down -21.9%

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US Light Vehicle sales in April reached their highest level so far this year, according to LMC Automotive, a leading automotive forecasting and market intelligence company.

The 1.26 million units sold represent a -17% YoY decline, but volumes were up by about 5,000 units from March. The annualized rate grew to 14.7 million units, about 1.3 million units more than in March. Continue reading →

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GMC Brand Extension – 2023 Yukon Denali Ultimate

Posted on 4 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on GMC Brand Extension - 2023 Yukon Denali Ultimate

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The 2023 Yukon Denali Ultimate trim “elevates” the GMC sub-brand it’s claimed. “Distinguished with exterior and interior details, next-level materials, innovative available (optional, bring money- Autocrat) technologies and impressive capability, the new 2023 Yukon Denali Ultimate is the most premium Yukon ever offered.” AutoInformed guesstimates the elevated price will be just under ~$100,000.

The Yukon Denali Ultimate goes on sale this fall with a standard 6.2L V8 or optional Duramax 3.0L Turbo-Diesel (ahem? Let ’em eat EVs?). Both engines have a 10-speed automatic transmission. Also, standard are Magnetic Ride Control, Air Ride Adaptive Suspension, Active Response 4WD™ system with electronic limited-slip differential and Auto Track two-speed transfer case. Continue reading →

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Tesla Recalls 48,184 Model 3s and 1, Yes 1, Model X

Posted on 3 May 2022 by Ken Zino
AutoInformed.com on Tesla Model 3 recalls

Non-safety in numbers?

Tesla, Inc. (Tesla) is recalling more than 48,000 2018-2022 Model 3 vehicles. The unit of speed (mph or km/h) may fail to display on the speedometer while in Track Mode. These vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 101, “Control and Displays.” Tesla will perform an over-the-air (OTA) software update, free of charge. Owner notification letters are expected to be mailed June 6, 2022. Owners may contact Tesla customer service at 1-877-798-3752. Tesla’s number for this recall is SB-22-00-008. 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.

In yet another safety recall, Tesla is buying back one 2022 Model X vehicle. A body structure reinforcement bracket was not installed at the second-row seat. As such, this vehicle fails to comply with the requirements of Federal Motor Vehicle Safety Standard numbers 207, “Seating Systems” and 210, “Seat Belt Assembly Anchorages.” Tesla will replace the vehicle, free of charge. An owner notification letter is expected to be mailed June 6, 2022. Continue reading →

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Auto Loan, Lease Total at Record $1.3 Trillion during 2021

Posted on 3 May 2022 by Ken Zino

The auto finance market grew 6.7% in 2021, in spite of challenges securing new-car inventory during the COVID-19 pandemic. This growth drove auto loans and leases remaining open to reach $1.3 trillion, an all-time high, according to the annual Big Wheels* Auto Finance ranking of car lenders and lessors released today.

“Auto finance growth in 2021 was largely driven by strong – and expensive – used cars, which bolstered originations,” said Marcie Belles, author of the report… “many financiers recorded lower ratios of new cars in their portfolios. Still, origination volume has been nearly restored to pre-COVID levels, and it continues to climb.” Continue reading →

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