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

Click to enlarge price, err, vehicle.

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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Mazda North America April Sales Down -3.3%

Posted on 3 May 2022 by Ken Zino

Mazda North American Operations (MNAO) today reported total April sales of 30,093 vehicles, a decrease of 3.3% compared to April 2021. Year-to-date sales totaled 112,361 vehicles; a decrease of 1.8% compared to the same time last year. With 27 selling days in April, compared to 26 the year prior, the company posted a decrease of 6.9% on a Daily Selling Rate (DSR) basis. Certified Pre-owned sales totaled 5,274 vehicles in April, a decrease of 23% compared to April 2021. Continue reading →

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Electrify America: 2021 EV Charging up 54 Times cf 2020

Posted on 2 May 2022 by Ken Zino

Ken Zino of AutoInformed.com on Electrify America - 2021 EV Charging up 54 Times 2020Electrify America said today it provided 1.45 million customer electric vehicle (EV) charging sessions in 2021 compared to 268,000 customer EV charging sessions during 2020.

Electrify America estimates that EV drivers avoided the use of 5.7 million gallons of gas while traveling more than 145 million electric vehicle miles. The company dispensed 41.4 gigawatt-hours of energy to power customer’s electric vehicles in 2021. Continue reading →

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Computer Bugs – Ford Launches New Certified Glass Network

Posted on 2 May 2022 by Ken Zino

The newly launched – today –  Ford Certified Glass Network (FCGN) Ford “offers industry-leading process coaching to help ensure every Ford and Lincoln vehicle glass installation is completed to the highest quality standards using original equipment procedures and parts.”

Ford has apparently discovered the latest bugs in computerized vehicles. They are not the ones that smear your windshield. The adverse effects of a poor installation on driving assistance technology happen when an aftermarket windshield cannot duplicate the precise location of the camera attachment brackets on a windshield which often distorts the optical quality of the camera. Continue reading →

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NLRB – National Labor Relations Act Protects Immigrants

Posted on 2 May 2022 by Ken Zino

Today, National Labor Relations Board General Counsel Jennifer Abruzzo released a new protocol to advance immigrant worker protections to freely exercise rights under the National Labor Relations Act* (NLRA) and safely participate in NLRB investigations.

In a memo issued to all field offices, the NLRB’s Division of Operations Management advised Regions to distribute information (available in English and Spanish) to all witnesses advising them that immigration status is not relevant to whether there has been a violation of the NLRA, that information obtained during NLRB investigations is protected, and that a charging party or witness can ask the NLRB to seek immigration relief for employees at a worksite if it is necessary to protect employees who are participating in NLRB processes or exercising their rights under the NLRA. The clarification has implications for auto makers, suppliers and their logistics companies, among others. Continue reading →

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Ford Recalls Explorer, Super-Duty F-Series for Safety Defects

Posted on 2 May 2022 by Ken Zino

Ford Motor is recalling 2020-2021 Explorer Police FHEV, Explorer Police 3.3L, and 2020-2022 Explorer 2.3L RWD, 3.0L PHEV, 3.3 L FHEV, and 3.0L ST gasoline vehicles because the rear-axle horizontal mounting bolt may fracture and cause the driveshaft to disconnect.*

In another recall, Ford is recalling 2020 Super Duty F-250, F-350, F-450, and F-550 vehicles equipped with 6.7L diesel engines. A washer within the vehicle’s transmission can disintegrate, causing metallic debris to become lodged in the ‘Park’ mechanism. Debris lodged within the ‘Park’ mechanism may prevent the vehicle from achieving or holding ‘Park,’ increasing the risk of a vehicle roll-away and a crash.** Continue reading →

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IMSA Racing – Laguna Seca Today

Posted on 1 May 2022 by Ken Zino
Ken Zino of AutoInformed.com on Corvette Racing

The #3 Mobil 1/SiriusXM Chevrolet Corvette C8.R driven by Garcia and Taylor.

It’s a big weekend for sports car racing in the US as IMSA goes to WeatherTech Raceway Laguna Seca in Monterey, California.

Jordan Taylor and Corvette Racing will start sixth on the GTD PRO grid Sunday for the Hyundai Monterey Sports Car Championship as the No. 3 Mobil 1/SiriusXM Chevrolet Corvette C8.R goes for its second victory of the season in the IMSA WeatherTech SportsCar Championship. Next stop for Corvette? LeMans!

Taylor qualified the No. 3 C8.R on Saturday with a time of 1:24.160 (95.731 mph) to put him 1.018 seconds off Mathieu Jaminet’s pole time. Taylor and Garcia have placed second the last two years at Laguna Seca, but the lack of performance will make the task of winning for the ninth time in Monterey – and maintaining the lead in the GTD PRO points standings – even tougher. Continue reading →

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IndyCar – Chevy Front Row at Grand Prix Of Alabama

Posted on 30 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on IndyCar – Chevy Front Row at Grand Prix Of Alabama

“I thought we had potential,” Veekay said.

Rinus Veekay in the No. 21 SONAX Ed Carpenter Racing car took his second NTT IndyCar pole with a top lap of 1m, 6.2507s for the Grand Prix of Alabama at Barber Motorsports Park tomorrow.* Pato O’Ward in the No. 5 Arrow McLaren SP Chevrolet qualified second to make it an all-Chevrolet power front row. VeeKay became the fourth different NTT P1 Award winner in as many races this season.

“I thought we had potential,” VeeKay said. “It was a chaotic session. We knew we were in a good position, but to actually put it on pole was an accomplishment. I think the whole team maximized everything. We made the right decisions with tires, setup, everything. “Confidence is high. I think from here we can have a great race and fight for the win, definitely.” Continue reading →

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