Stellantis Consolidates Financial Services for All Brands

Posted on 2 April 2022 by Ken Zino

Stellantis (NYSE / MTA / Euronext Paris: STLA) has signed binding agreements with BNP Paribas Personal Finance (“BNPP PF”), Crédit Agricole Consumer Finance (“CACF”) and Santander Consumer Finance (“SCF”) reorganize its current financial services platform in Europe.

All these are supporting Stellantis’ desire to develop a full-service captive finance arm. To provide customers, dealers and partners with a complete range of financing options in the near-to-medium term, including retail loans, leases, and floorplan financing. (AutoInformed: Floorplan – Stellantis Buys First Investors Financial Services. First Investors has been renamed Stellantis Financial Services US Corp.) Continue reading →

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NA Q1 Light Vehicle Sales Rate at 14.1M, -2.7M YoY

Posted on 1 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on NA Q1 Light Vehicle Sales Rate at 14.1M, -2.7M YoY

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Sales reporting day for most automakers in North America saw GM Chief Economist Elaine Buckberg say industry light vehicle volumes will grow this year and top 2021 levels, thanks to a strong labor market, higher vehicle production and pent-up demand.

But that didn’t reflect the immediate quarter, especially the month of March. Wards Intelligence, notes the average capacity utilization rate in a North American assembly plants during Q4 2021 was 70.3%, down from 85.4% in Q4 2020. The SAAR appears to be 13.3 million units, down from 14 million in February and a drop of 24.4% from March 2021’s SAAR of 17.6 million.  Simply put the supply chain is a mess, and with Putin’s war on Ukraine it remains chaotic.  Following the jump are the preliminary results from firms that reported. The rest of the results will trickle in next week. Continue reading →

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Uwe Pichler-Necek Next MD of Porsche Engineering China

Posted on 1 April 2022 by Ken Zino
Ken Zino of AutoInformed.com on Pichler-Necek to Be Managing Director Porsche Engineering China

Porsche Engineering has worked on the development requirements of the Chinese market for thirty years.

Uwe Pichler-Necek today joins the Chinese subsidiary of Porsche Engineering*, an international technology service provider. He will take over as Managing Director on 1 July 2022. Pichler-Necek succeeds Kurt Schwaiger, who has headed up Porsche Engineering’s Chinese activities since 2015. Schwaiger is returning to Germany to retire after more than six years as Managing Director of Porsche Engineering in China.

The move in the totalitarian state comes as German automakers are scrambling to adopt to the disruptions caused by Russian totalitarian Vladimir Putin’s war against Ukraine rages on slaughtering civilians. German automakers are bearing the direct brunt of this war and scrambling to adjust to production and supply disruptions.
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Mission Impossible to Ignore – Almost All SUVs Struggle in First IIHS Seat-Belt Reminder Ratings

Posted on 31 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on SUVs Struggle in First IIHS Seat-Belt Reminder Ratings

 Among 26 vehicles, only two Subarus, Ascent and Forester, earn a good rating. Click to Enlarge.

A new ratings program from the Insurance Institute for Highway Safety released today is designed to coerce automakers to improve seat belt reminders in order to save lives.

Federal motor vehicles safety standards say that seat belt reminders must include an audible signal that lasts for 4-8 seconds total and a visual alert that lasts at least 60 seconds whenever the driver’s seat belt is unbuckled. Almost half of the drivers and front-seat passengers killed in crashes in 2019 weren’t belted.

However, previous IIHS research has shown that more noticeable and persistent alerts could increase belt use among those who do not routinely buckle up by as much as 34%, preventing ~1500 fatalities a year. Continue reading →

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Ford Issues 2022 Integrated Sustainability and Financial Report

Posted on 31 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on Ford Issues 2022 Integrated Sustainability and Financial Report

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Ford Motor Corp. (NYSE: F) released  its sustainability report this morning. Supplementing the report is a standalone human rights report, a first for Ford and the U.S. auto industry, as well as a combined task force on climate-related financial disclosures and climate risk scenario report. Ford said it has committed to achieve carbon neutrality no later than 2050, backed by interim targets it will meet by 2035.

The problem with all such reports is that saying something doesn’t mean that other areas of the company are actually supporting the stated goals. “Combining sustainability and financial performance in a single report,” Ford said, “is significant.” Well, given this, Ford has actively opposed attempts by stockholders at the last few annual meetings to reveal its PAC contributions. Is Ford dispensing shareholder money to politicians or companies that are actively opposed to its stated goals? Given the vast complexity of Ford’s, Democracies’ and the globe’s survival threats, it’s a key measurable in AutoInformed’s view. Continue reading →

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Goodyear Expands Eagle Exhilarate Performance Tire Line

Posted on 31 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on Goodyear Expands Eagle Exhilarate Performance Tire Applications

Ultra-high-performance line expands.

Goodyear today announced the addition of 16 new sizes for Eagle Exhilarate, an ultra-high performance, all-season tire that claims excellent performance in wet and dry cornering grip, as well as wet and dry handling. With the addition of the 16 new sizes, the Eagle Exhilarate is now available in a total of 52 sizes, ranging from 17 to 22-inch rim diameters.

Popular vehicles that Eagle Exhilarate tires will now fit include the Acura TLX, Audi A5 and RS5, BMW 3-Series and X5, Cadillac XTS, Chevrolet Camaro and Corvette, Dodge Challenger and Charger, Ford Mustang, Infiniti Q50, Mercedes E-Class, Porsche 911 and Volvo S60.
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Genesis Opens First US Standalone Retail Store

Posted on 30 March 2022 by Ken Zino

Ken Zino of AutoInformed.com on Genesis Opens First US Standalone Retail StoreGenesis has opened its first standalone retail location in the United States, Genesis of Lafayette, Louisiana.

It has, says Genesis,  “distinct brand elements, a transparent, open floorplan, an indoor vehicle delivery area, and infrastructure to support the upcoming portfolio of Electrified Genesis models… unique design elements are on full display, such as a private brand cube where customers may review material samples, vehicle specifications, and more in a stress-free environment.”
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Volta Trucks Road Show Heading to Madrid

Posted on 30 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on Press Release EVs - Volta Trucks Raises €230M Capital Funding

Ambitious production plans clouded or helped by Putin’s war against Ukraine?

Volta Trucks said today it will be in Madrid on the 5th  and 6th April, hyping the Volta Zero 16-ton truck at the Circuito del Jarma, home to the Spanish Grand Prix between 1968 and 1981. This follows the conclusion of a Series C funding round of €230 million last month.

Following the promised start of production this year, the vehicles could be in circulation in Madrid during  2023, a city that exceeded the EU’s air quality standard in 2021. Volta Trucks plans to produce 5,000 vehicles throughout Europe in 2023, increasing to 14,000 in 2024, 27,000 in 2025. The 16-tonne vehicle is the first of the four variants which range between 7.5- and 18-tonnes. Continue reading →

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Clean Truck, Bus CALSTART Incentives Available at CARB

Posted on 30 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on CALSTART Incentives for Clean Trucks, Buses

HVIP has funded more 9,000 clean trucks and buses.

The California Air Resources Board and CALSTART reopened incentives for clean trucks and buses today with more than $400 million now available to speed California’s move to zero-emission vehicles.

This  is the biggest funding round in the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) to date. Launched by the California Air Resources Board in 2009, HVIP provides for first-come, first-served incentives that reduce the incremental cost of commercial vehicles. The project is administered by CALSTART. Continue reading →

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Chinese Hyper EV – the Lotus Eletre SUV Debuts

Posted on 29 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on Chinese Hyper EV- Lotus Eletre SUV Debuts

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The all-new and all-electric Lotus Eletre, billed as a progressive Hyper-SUV has debuted. It’s the first of a new line of pure electric SUVs from, ahem, Lotus. Known until now by its Lotus code-name, Type 132, the Eletre claims to be a “globally relevant product of sustainable mobility for a worldwide audience.”  Hyper, because Eletre joins select ‘Two-Second Club’ – capable of 0-100km/h (0-62mph) in less than three seconds.

“The Eletre, our Hyper-SUV, is a new performance car from an iconic performance car brand and it will appeal to independent-minded and adventurous driving enthusiasts -those who love the thrill of driving. It is a unique combination of beautiful design, exceptional dynamic performance and everyday usability, for those who dare to look beyond the conventional, and marks a turning point for our business and brand,” claimed Qingfeng Feng, CEO, Group Lotus. Continue reading →

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US Department of Transportation Budget for FY 2023 – $142B

Posted on 29 March 2022 by Ken Zino

The Biden-Harris Administration today submitted to Congress the President’s Budget for fiscal year 2023 of $5.89 trillion that included $142 billion for the Department of Transportation – a key government agency for the US’s vast automobile industry. (AutoInformed: President Biden Targets 50% Electric Vehicle Sales in 2030; Building Forward Better – President Biden, DOT, DOE Announce $5B National EV Charging Network; President Biden to Attend GM Factory ZERO Grand Opening; EPA Publishes Plan to Achieve Biden-Harris Priorities)

Automobility moves America by supporting a total of 10.3 million American jobs, or ~8% of private-sector employment; direct, indirect, and stimulated jobs supported by the auto industry create $650 billion in paychecks for millions of workers; Every job for an auto manufacturer in the United States creates ~11 other positions in industries in the economy. Continue reading →

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Commerce Releases Plan to Boost America’s Competitiveness

Posted on 28 March 2022 by Ken Zino

Today the Department of Commerce released its fiscal year 2022-2026 Strategic Plan laying out an “agenda for innovation, resilience and equity to strengthen America’s competitiveness in the 21st century.” Commerce also published the first-ever learning agenda, whereby all bureaus will build evidence on program outcomes.

While Commerce has revised its mission statement to underscore the connection between its programs and all Americans, specifically the Department’s mission is to create the conditions for economic growth and opportunity for all communities, AutoInformed thinks it’s going to take a lot more than publicity releases. Continue reading →

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German Automakers Bearing Brunt of Putin’s War on Ukraine

Posted on 28 March 2022 by Ken Zino

“The war in Ukraine has led to plant closures across Germany and a likely loss of around 150k units in March alone,” James Norris, Senior Analyst, European Light Vehicle Production at the respected LMC Automotive consultancy said today.

By the beginning of March this year, following Russia’s invasion of Ukraine, almost all automotive production in the two warring countries had come to a complete standstill. The problem for German automakers is that are dependent on Eastern European suppliers, including Ukraine.   Continue reading →

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EPA Publishes Plan to Achieve Biden-Harris Priorities

Posted on 28 March 2022 by Ken Zino

Today, the Environmental Protection Agency published its final Fiscal Year (FY) 2022-2026 EPA Strategic Plan to accompany EPA’s FY 2023 President’s Budget. The Strategic Plan provides ways to achieve EPA’s and the Biden-Harris Administration’s environmental priorities during the next four years.

Ken Zino of AutoInformed.com on EPA Publishes Plan to Achieve Biden-Harris Administration’s Priorities

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Ruckelshaus was appointed by President Nixon when the agency was created in 1970 and Republicans cared about the environment. Among his many accomplishments was the banning of the deadly pesticide DDT. Ruckelshaus, resigned as deputy attorney general rather than institute President Richard M. Nixon’s illegal order to fire the independent special Watergate prosecutor Archibald Cox in the constitutional crisis of 1973 dubbed the “Saturday Night Massacre.” Only a small, but significant number of Republicans have had the courage to do so under the ousted-by-legal-voters, treasonous Trump Administration whose still ongoing constitutional crisis’ and corruption scandals have now implicated the Supreme Court Justice Clarence Thomas, whose wife was calling for the overthrow of  the duly elected government. Continue reading →

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GM Canada – Marissa West now President, Scott Bell moves to VP Global Chevrolet in US

Posted on 28 March 2022 by Ken Zino
Ken Zino of AutoInformed.com on GM Canada Changes - Marissa West President, Scott Bell moves to VP Global Chevrolet

“With GM Canada manufacturing now growing quickly, another priority will be the launch of new vehicles including Canada’s first scale electric-vehicle production at CAMI later this year.”

General Motors today said Marissa West, currently executive chief engineer Global Mid-Size Truck & Medium Duty Truck, is president and managing director for GM Canada reporting to Steve Carlisle, executive vice president and president, North America. Scott Bell, currently president and managing director GM Canada will repatriate to the United States to lead the Chevrolet brand as vice president global Chevrolet also continuing to report to Steve Carlisle. The transition begins immediately.

West holds a master’s degree in mechanical engineering from the University of Michigan and a bachelor’s degree in mechanical engineering from Michigan State University. Marissa has four children with her husband Bob. She started working at GM as an intern in 2001. Continue reading →

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