Ford Motor Blues – Q1 Loss of $3.1 Billion

Posted on 27 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Ford Motor Blues - Q1 Loss of $3.1 Billion

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Ford Motor Company (NYSE:F) today reported its 2022 Q1 financial results, which showed $34.5 billion in revenue on shipments of ~969,000 vehicles. This resulted in a net loss of $3.1 billion and adjusted earnings before interest and taxes of $2.3 billion with an adjusted EBIT margin of a mere 6.7%. Sales, market share, cash flow, income and earnings per share were all down when compared year-over-year.

As with GM yesterday, Ford was battered by supply chain disruptions mostly beyond its control, as well as self-created costs from the valuation of its investment in Rivian with a mark-to-market loss of $5.4 billion on the company’s investment down from $10.6 billion at the end of 2021. Strong customer demand from the ongoing Biden Administration recovery wasn’t helped by Ford’s popular vehicles because of  persistent supply chain issues that Ford was unable to adjust for. Continue reading →

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Stellantis Hackathon – Hardware Enhanced by Software

Posted on 27 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Hackathon - Hardware Enhanced by Software

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The first Stellantis “Hackathon” held  over the past weekend in Detroit used a cloud-based software development kit and vehicle data to create apps that “gamify” driving to encourage safety, fuel efficiency. It’s the latest example of the direction that mobility tech companies, aka automakers, are taking as the industry moves from only “hardware” involving stamping, welding and bolting to software-defined vehicles. Many if not all automakers are racing to  grow from their old blacksmithing ways. (AutoInformed: Dare Forward 2030 – Stellantis Survival Plan Unveiled)

The college teams were competing for real not-virtual money, $15,000 for the winning team, $5,000 for second place and $2,000 for third place. A majority of Stellantis vehicles will have full over-the-air (OTA) updating capability by 2024, with 34 million “monetizable” (sic) connected cars on the road by 2030.  Continue reading →

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GM Q1 $4 billion. Net $2.9B

Posted on 26 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on GM Q1 $4 Billion. Net $2.9B - Half Full or Empty?

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General Motors (NYSE: GM) today reported Q1 net earnings of $ 2,939,000,000 on $11 billion in revenue, with a Net Income margin of 8.2%, down 1.1 ppts. GM’s Q1 market share was 9% on sales of 1.4 million units. Market share was down YoY due to semiconductor shortages and availability of dealer inventory.

Increased production and robust customer demand from the Biden Administration recovery in North America played a significant part in a decent (So-so? It was basically the same as last year.) financial performance that nonetheless was down for shareholders – at $1.35 per share, off $0.68 compared year-over-year. Consider: For Q1 2022 Tesla reported $3.22 earnings per share, and revenue of $18.76 billion. Vehicle sales were 310,048. Moreover, Tesla reported  record automotive margins of 32.9%.

Continue reading →

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Kentucky Derby – BMW to be First Luxury Auto Sponsor

Posted on 26 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Kentucky Derby - BMW to be First Luxury Auto Sponsor

The German version of racing silks?

BMW of North America announced today it will be the first-ever “official luxury automotive partner” of the Kentucky Derby, taking place from May 5-7, 2022 at Churchill Downs Racetrack in Louisville, KY. This will include the first public display of the all-new BMW 7 Series, including the fully electric BMW i7 EV.

Additional paid advertising and marketing elements will include BMW as presenting partner of the American Turf Stakes race on Kentucky Derby day, a brand display at the VIP entrance and “The Ultimate Macaron Bar” at Taste of Derby. BMW will also have an interactive product display located at the main entrance of Churchill Downs. Continue reading →

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Milestones – Production Begins for Ford F-150 Lightning EV

Posted on 26 April 2022 by Ken Zino

Ken Zino of AutoInformed.com on Milestones - Production Begins for F-150 Lightning EVThe electric Ford F-150 Lightning pickup began production today at the Rouge Electric Vehicle Center in Dearborn, Michigan. Ford employees and F-150 Lightning customers attended the “Job 1” event for the first-ever, full-size all-electric pickup to go on sale, arguably the most important launch in Ford Motor’s history since the Model T. The Rouge is also home to another landmark Ford – the Model A. This is also a significant event in the country’s badly needed shift to electric vehicles to save planet earth from the pernicious and deadly effects of burning fossil fuels. (AutoInformed on: EV Pickup! Ford is Betting Lightning Can Strike Twice; Ford Introduces All-Electric F-150 Lightning Pro – Bring Money;  *more below)

Ford Motor, whose existence was tenuous during the Great Recession, is now the top automaker in America in terms of 2021 production, sales of US-made vehicles and employment of hourly autoworkers. The F-150 Lightning is the only full-size electric pickup available now with a starting price less than $40,000. Ford F-Series has been America’s best-selling truck for 45 years running and is second only to the iPhone in revenue among all American consumer products, according to a 2020 study*1. Continue reading →

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Ford Recalls 653,000 F-Series, Expeditions, Navigators for Bad Wipers – 18 Products Affected by Safety Defect

Posted on 26 April 2022 by Ken Zino

Ford Motor is recalling 2020-2021 F-150, Expedition, 2020-2022 Super Duty F-250, F-350, F-450, F-550, and 2020-2021 Lincoln Navigator vehicles. The windshield wiper arms may break, causing the windshield wipers to fail on ~653,000 trucks. Ford has known about the problems since last August. There are no reports of accidents or injuries associated with this safety defect, Ford said in the required NHTSA filing just made public. Parts are not yet available to replace the arms.In an apparent attempt to limits the costs of an expensive recall, Ford will not replace the wiper blades unless they are missing.

During August of 2021, Ford became aware of stripped wiper arm splines on certain Expedition vehicles as the defect was brought to Ford’s Critical Concern Review Group for review (CCRG). “Routine Ford monitoring of field data had identified reports related to driver or passenger wiper arms coming loose, not working, or detaching. Continue reading →

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Rolls-Royce Motor Cars Expands Mentoring

Posted on 25 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Rolls-Royce Motor Cars Expands Mentoring

I suspect that workers once thought they could not or were told to never redesign the Spirit of Ecstasy, let alone produce an EV.

Rolls-Royce Motor Cars in a release from Goodwood today said it is expanding its participation in mentoring through Dare to Dream. The program or programme or scheme in Brit-speak, is “designed to help pupils realize their potential and overcome their personal barriers to success.”

Between now and the end of the current school year, 15 volunteers from Rolls-Royce will act as mentors to Year 9 pupils from Chichester Free School, Bourne Community College and Ormiston Six Villages Academy, all close to the Home of Rolls-Royce at Goodwood. The team, which has grown from ten mentors last year, includes some who took part in 2021 and asked to remain involved. The program is run by LoveLocalJobs Foundation, a community interest company (CIC) that works with schools and leading employers in West Sussex. Continue reading →

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Subaru 2023 Solterra Electric SUV Starts at $46,220

Posted on 25 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Subaru 2023 Solterra Electric SUV Starts at $46,220

The best mileage is likely downhill.

Subaru of America today announced pricing on its first-ever all-electric SUV, the 2023 Subaru Solterra. The Solterra has new in-vehicle technology while staying true  it’s claimed – to its Subaru heritage with industry-leading safety and go-anywhere capability. The 2023 Solterra is offered in three trim levels, Premium, Limited, and Touring. Solterra begins arriving in limited numbers at Subaru retailers this summer starting at $44,995 MSRP, plus destination at $1,225, and potential additional dealer markups. Range is guesstimated at up to 228 miles.

The “late to the EV party” Solterra has new electrification and in-vehicle technology. The Solterra name was created using (marketing babble alert> “the Latin words for ‘Sun and Earth’ to represent Subaru’s commitment to deliver traditional SUV capabilities in an environmentally responsible package.” Continue reading →

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Chinese Commerce – Dongfeng Honda Begins Sale of NS1 EV

Posted on 25 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Chinese Commerce - Dongfeng Honda Begins Sale of NS1 EV

The first Honda-brand EV models in China.

Honda Motor (China) Investment Co., Ltd. (HMCI), a wholly-owned Honda subsidiary in China, today announced that Dongfeng Honda Automobile Co., Ltd., a Honda automobile production and sales joint venture in China, will begin sales of the all-new e:NS1 electric vehicle (EV) model tomorrow, on April 26, 2022.

China is the world’s largest auto market and is arguably the leader in electrification. HMCI also announced that GAC Honda Automobile Co., Ltd., another Honda automobile production and sales JV in China, will begin taking reservations for the all-new e:NP1 EV model in May 2022. Continue reading →

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GM Ultium-based EVs Now Have a Heat Pump

Posted on 25 April 2022 by Ken Zino
AutoInformed.com on General Motors reveals its all-new modular platform and Ultium battery system

Another step n energy efficiency.

General Motors (NYSE:GM) today announced that its Ultium-based EVs can now capture and re-use waste energy from the battery. Through the new Ultium Platform’s energy recovery system, this waste energy can increase a vehicle’s range, reduce battery energy needed for heating, increase charging speed and enable more aggressive driving.

Since EV batteries, power electronics and other propulsion components produce heat, this is another step toward  the more efficient use of energy. The Ultium Platform can recover and store this waste heat from the Ultium propulsion system. It can also capture and use humidity from both inside and outside the vehicle, including body heat from passengers. The Ultium Platform can then deploy energy stored through the recovery process to heat the cabin more quickly in cold weather than comparable systems found in vehicles with an internal combustion engine. Continue reading →

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EPA Sued to Set New Limits on Soot, Sulfur, Nitrogen Pollution

Posted on 25 April 2022 by Ken Zino

The Environmental Protection Agency today recognized that environmental groups are suing it to force EPA to update limits on harmful soot, sulfur and nitrogen air pollution. The suit, Center for Biological Diversity, et al. v. EPA, No. 4:22-cv-02285, was filed on 13 April. EPA last put new standards in place for the three pollutants in 2012 and 2013. Updates were due in 2017 and 2018. EPA ignored them it is alleged. The lawsuit was filed in the U.S. District Court for the Northern District of California.

Plaintiffs appear to have a compelling case. According to the pleadings, EPA’s latest update and review of the welfare-based standards for sulfur oxides and nitrogen oxides was in June 2012; new standards were due in June 2017. The EPA last updated the particulate matter welfare-based standards in March 2013, so new updates to those standards were due in March 2018. Continue reading →

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GM Asks Suppliers to Pledge on Taking Global Climate Actions

Posted on 25 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on GM Asks Suppliers to Pledge on Global Climate Actions

Another step to save planet Earth.

General Motors today announced a new pledge that invites global suppliers to join the company in a commitment to carbon neutrality, the development of social responsibility programs and implementation of sustainable procurement practices in their supply chain operations.

Companies comprising 53%  of its annual purchase value of GM’s tier 1 materials have already signed the pledge. The Environmental, Social and Governance Partnership Pledge is significant because it calls for social and governance commitments, including human rights protections and fair operating practices. Continue reading →

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NLRB Sues Starbucks for Unfair Labor Practices

Posted on 23 April 2022 by Ken Zino

Ken Zino of AutoInformed.com on NLRB Sues Starbucks for Unfair Labor PracticesLate Friday night last week, NLRB Region 28 Regional Director Cornele Overstreet petitioned a United States District Court for injunctive relief for victims of unfair labor practices in three cases involving Starbucks retaliating against members of a union organizing committee.

The lawsuit seeks immediate reinstatement of the three. Section 10(j) of the National Labor Relations Act authorizes the National Labor Relations Board to seek injunctions against employers and unions in federal district courts to stop unfair labor practices where, due to the passage of time, the normal Board processes are likely to be inadequate to effectively remedy the alleged violations. Continue reading →

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President Biden Signs Executive Order to Boost Wildfire Resilience, Combat Global Deforestation

Posted on 22 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on President Biden Signs Executive Order to Boost Wildfire Resilience, Combat Global Deforestation

Finally coming is the first ever US National Nature Assessment.

Today, on Earth Day, President Biden signed an Executive Order to expand his Administration’s efforts to attack the climate crisis. This will make the US more resilient to extreme weather and strengthen local economies. The President signed the Executive Order in Seattle, Washington, completing a trip across the West focused on lowering costs for families and protecting communities from intensifying climate impacts.

It is indisputable that wildfires and extreme weather events are growing in frequency and ferocity, engulfing communities in the West and across the country. In spite of the obstructionism to change by those funded by the fossil fuel industry, this is demonstrably costing lives, destroying homes, and creating a ruinous economic climate. Biden reaffirmed his calls on Congress to address the climate crisis. Continue reading →

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Happy Earth Day to CO2 Producers

Posted on 22 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Happy Earth Day to CO2 Producers

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Today is Earth Day – an annual event on to show  support for environmental protection. It was first held on 22 April 1970 after the disastrous Santa Barbara oil spill from a Union oil drilling platform dumped at least 3,000,000 gallons of crude – killing  birds, seagulls dolphins, and seals.

This prompted several organizers, helped by Wisconsin Senator  Gaylord Nelson who was appalled by an 800-sqaure-mile oil slick floating in the Santa Barbara Channel to start a renewed environmental movement. Continue reading →

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