GM Revamps Information Technology for Growth

Posted on 10 November 2021 by Ken Zino

Today, General Motors announced the immediate restructuring of its Information Technology function into two groups. One is a Digital Business Software team; the other is a Global IT organization. GM said it’s to allow software-enabled services revenue to increase to $20-25 billion annually by 2030. (Connected Cars – GM Debuts Ultifi for Saleable APPs, Services to Buyers, GM’s Dual Platform Strategy – Doubling Revenues by 2030?) Continue reading →

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COP26 – CARB’s Liane Randolph New Chair of Transportation Decarbonisation Alliance

Posted on 10 November 2021 by Ken Zino

California today assumed the presidency of the Transportation Decarbonisation Alliance* (TDA) taking over its leadership from the Netherlands at COP26. Liane Randolph, Chair of the California Air Resources Board, will become the new TDA chair, assuming the role from the Netherlands Minister for Infrastructure and Water Management Steven van Weyenberg.

Under Governor Newsom, California has made the rapid shift to zero-emission transportation a top priority. The recent $3.9 billion Zero Emission Vehicle package advanced by the Governor in partnership with the Legislature will support the Governor’s Executive Order to ensure 100% ZEV sales for cars and medium trucks by 2035, and a 100% zero emission fleet of heavy-duty trucks and related equipment everywhere feasible by 2045. Virtually all Republicans in California and Nationally led by Senator majority leader Mitch McConnell oppose infrastructure improvements or positive actions on Global Warming. See Mark Ruffalo and Jonathan Scott on Electile Dysfunction the cure for Limp Democracy. Continue reading →

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Citroën Helps Make Chalki a Zero Emission Greek Island

Posted on 9 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Citroën Helps Make Chalki a Zero Emission Greek Island

“People on the island will gain a significant improvement in their daily life with less noise, a better air quality, a cleaner environment, as well as lower energy costs.”

The Greek island of Chalki is at the center of an inventive project to transform the island into an area of sustainable, zero-emission mobility energy. Chalki’s green energy transition is being implemented with several partners with specialized knowledge such as Syngelidis Group, Citroën’s Greek importer, Vinci and Akuo Greece among others.

Following the signing of the Memorandum of Understanding between the Greek Government, Citroën/Syngelidis Group, Vinci and Akuo Greece, work is underway to transform the island of Chalki into a zero-emission economy. Citroën and Syngelidis Group are offering a range of electric vehicles that will only use renewable energy. The aim is to make this progress available to all residents and businesses on the island. Continue reading →

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California, New Zealand, Québec Sign Joint Agreement on Net Zero Green House Gases

Posted on 9 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on California, New Zealand, Québec Sign Joint Agreement on Net Zero Green House Gases

There’s a chance of limiting global warming to 1.5°C. The science shows we now have eight years to almost halve global greenhouse gas emissions.

Today the California Air Resources Board, for the state of California, signed a Joint Declaration on cooperation in the fight against climate change with the New Zealand and Québec governments. The agreement follows the California law requirement of AB 32* to consult with other nations to aid “the development of integrated and cost-effective regional, national, and international greenhouse gas reduction programs.”

The Joint Declaration accepts the urgent need to reduce greenhouse gas emissions in accordance with the latest findings of the Intergovernmental Panel on Climate Change. It acknowledges the common intent of the three jurisdictions to transition toward net-zero greenhouse gas emissions while creating new, quality jobs in low- or zero-emission sectors and facilitating a just transition for people impacted by the shift towards a carbon neutral economy.
 Continue reading →

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Ford to Take $1B Charge to Buy Back Expensive Debt

Posted on 8 November 2021 by Ken Zino

Ford Motor Company is proceeding with a cash tender offer to repurchase up to $5 billion of the company’s higher-cost debt. In a move that will restore the now suspended dividend to shareholders, including the Ford Family, John Lawler, Ford’s CFO, said this is consistent with Ford’s objectives “to further strengthen its balance sheet and financial flexibility and return its credit ratings to investment grade.”

Last April, Ford sold $8 billion of bonds as the coronavirus pandemic closed Ford’s factories with a corresponding drop in sales. Actions such as the debt tender offer and the issuance of 0% convertible notes earlier this year, together with a “bet on the come line” of awaited broader access to capital from a “sustainable financing framework,” combine with Ford’s objectives to further strengthen its balance sheet and financial flexibility and return its credit ratings to investment grade. (Ford Motor Posts -$2 Billion Q1 Loss; Ford Posts Q1 Income of $3.3B. Semiconductors Still Difficult; Ford Motor Posts Q2 Revenue $26.8B, Net Income $56M, Earnings $1.1B as Market Share Drops; Ford Motor Earns $3.0 Billion in Q3) Continue reading →

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8 Hours of Bahrain: Toyota, Alpine Podiums at WEC Finale

Posted on 7 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on 2021 WEC 8 Hours of Bahrain

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The finale to the WEC season saw Toyota’s Kazuki Nakajima finish his endurance career with victory in the #8 GR010 HYBRID shared with Sébastien Buemi and Brendon Hartley.

Le Mans winners Mike Conway, Kamui Kobayashi and José María López, in the #7 GR010 HYBRID, retained the drivers’ title by finishing Saturday’s race, the sixth and final round of the season, in second place. Continue reading →

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First Aston Martin Valkyrie Hypercar Completed

Posted on 4 November 2021 by Ken Zino

Technicians are hand-building 150 cars, with each Valkyrie taking more than 2000 hours to create.

Aston Martin said today today that the Valkyrie coupe has finally entered full production. The first customer car is now complete, with deliveries planned in the coming weeks. Only 150 of the oft-hyped Valkyrie Hypercar are scheduled to built at ~£2.5 million each. How many owners of what is essentially a Formula One race car with a sports car wrapper will use them on a track is unknown. Many, no doubt, like the McLaren F1 hyper car will be put in storage awaiting unknowable appreciation before they change hands again. (Aston Martin Valkyrie: Formula One Drivers Get First Laps)

Before each Valkyrie is delivered, it is track-tested at the Aston Martin high performance facility at Silverstone where much of the development of the hypercar has taken place. The hybrid V12 powertrain provides a maximum power of 1,155PS, it’s claimed. The electric boost from the hybrid is 160 horsepower and 207 lb. ft. of torque. Continue reading →

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US October Light Vehicle Sales Drop -23% YoY

Posted on 4 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on US October Light Vehicle Sales Drop -23% YoY

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The US daily volume average of light vehicle sales dropped to the lowest level so far in 2021 due to extremely lean inventories, according to LMC Automotive, an independent global forecasting and market intelligence consultancy. Sales totaled 1.05 mn light vehicles, down -23% YoY. Ford led the market, but Toyota outsold GM once again and is now the only OEM that has sold more than 2 million units in the year to date. Several brands, including Hyundai, Kia and Tesla, have already surpassed their 2020 total sales.

Overall vehicle sales were, however, 5% higher than September with the 2 extra selling days in October. The annualized rate grew to 13.1 million units from 12.1 million in the previous month and back to the level registered in August. “However, OEMs sold just 39,000 vehicles per selling day, compared to 40,000 units last month, way down from a peak of 62,000 vehicles in March,” said LMC. Continue reading →

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Illustrious Road Trip – Maserati, Pacific Coast Highway and Four Seasons Hotels?

Posted on 3 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Illustrious Road Trip – Maserati Levante, Pacific Coast Highway and Four Seasons Hotels

“Luxurious accommodations in a suite, daily breakfast for two and complimentary valet parking for the new 2021 Maserati Levante SUV.”

Four Seasons Hotels and Maserati have produced a trip package that reflects the shifting winds in the luxury goods market. It starts at the Beverly Wilshire, a Four Seasons Hotel, where the first 24-hour complimentary use of the Maserati Levante SUV begins. The Maserati Levante SUV, of course, is all-wheel drive and powered by a twin-turbo V6 or V8 engine. (Maserati Debuts Levante Hybrid SUV at Shanghai Auto Show; Maserati Notes Tipo 300s Win at Venezuela Grand Prix; Glub? Aston Martin Going into Submarine Business!)

Then you can go north along the Pacific Coast Highway. Suggested stops along the drive are the Danish village of Solvang, the seaside village of Morro Bay – a favorite of mine from my Road&Track sports car testing days – Hearst Castle, Big Sur and Carmel-by-the-Sea. Continue reading →

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FAA, Finally Five Years After Deadly Accident, Wants a Medical Certificate for Commercial Hot-Air Balloon Pilots

Posted on 2 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on FAA Finally Wants Medical Certificate for Commercial Hot-Air Balloon Pilots

The FAA will publish the draft rule in the Federal Register in November. The public will have 60 days to comment. The FAA will review comments before publishing a final rule. Eventually.

The Federal Aviation Administration proposed a rule today requiring commercial hot-air-balloon pilots to hold medical certificates when operating for hire. The rule mandates a second-class medical certificate, the same standard required for commercial pilots.

“Balloon pilots are responsible for the safety of their passengers,” said FAA Administrator Steve Dickson. “This proposed rule would ensure that balloon pilots meet the same medical requirements as pilots of other commercial aircraft.” The rule in AutoInformed’s view is more than five years too late because of regulatory capture by the industry, a common problem at the FAA as recently exhibited with the Boeing 737 Max fiasco 1. Continue reading →

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Floorplan – Stellantis Buys First Investors Financial Services

Posted on 2 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Buys First Investors Financial Services

First Investors has been renamed Stellantis Financial Services US Corp. It will be the underpinning for Stellantis to develop a full-service captive finance arm.

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) has completed the acquisition of F1 Holdings Corp., parent company of First Investors Financial Services Group from an investor group led by Gallatin Point Capital LLC. The acquisition, previously announced on 1 September 1 2021, closed today at the agreed upon conditions and within the period indicated at signing. (Stellantis to Buy First Investors Financial Services)

This is either an opportunity or survival necessity, depending on your viewpoint. It will allow Stellantis to provide customers and dealers a range of financing options, including retail loans, leases, and floorplan financing in the near term. A so-called “captive U.S. finance company”  will provide revenue, marketing incentives and mobility services in the digital age for customers who purchase Jeep, Ram, Dodge, Chrysler, Fiat and Alfa Romeo vehicles. Continue reading →

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Toyota Wins WEC 6 Hours of Bahrain

Posted on 1 November 2021 by Ken Zino
Ken Zino of AutoInformed.com on the 2021 FIA World Endurance Championship

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Toyota Gazoo Racing made endurance racing history Sunday as the first World Champions of the new, confusing Hypercar1 era with a one-two victory in the 6 Hours of Bahrain. Mike Conway, Kamui Kobayashi and José María López won the penultimate round of the 2021 FIA World Endurance Championship (WEC) in their #7 GR010 Hybrid.

Sébastien Buemi, Kazuki Nakajima and Brendon Hartley in the #8 car home took second place. The Alpine Elf Matmut Endurance Team scored its fifth consecutive podium finish in the FIA World Endurance Championship in Bahrain. Continue reading →

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Toyota Georgetown Kentucky Plant Set for $461M Upgrade. Lexus Manufacturing Leaving US

Posted on 29 October 2021 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Georgetown Kentucky Plant Set for $461M Investment

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Toyota today announced a series of changes and projects that transform its Georgetown plant “to meet shifting customer demand, reduce its carbon footprint and advance future capabilities.” According to the Japanese global automotive giant, an investment of $461 million will add advanced manufacturing equipment and technologies, coupled with facility layout improvements, which will increase the plant’s operational speed, flexibility and competitiveness. These improvements will expand TMMK’s ability to produce new products, including future electrification.
Continue reading →

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Stellantis Posts Q3 Net Revenues of €32.6 Billion -14%

Posted on 29 October 2021 by Ken Zino

Stellantis late yesterday reported Q3 net revenues of €32.6 billion, a decrease of -14% year-over-year. Even with improved vehicle mix and positive net pricing helping revenues, this was more than offset by lower volumes. Results were based on shipments of 1,131,000 units, down 27% compared to Q3 2020. This was primarily the result of the loss of ~30% of Q3 2021 planned production of 600,000 units because of unfilled semiconductor orders.

Ken Zino of AutoInformed.com on Stellantis Posts Q3 Net Revenues of €32.6 Billion, Down 14%

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As always executives tried to spin the weak performance positively. Continue reading →

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Three Military Airports Eligible for Funds for Civilian Operations

Posted on 29 October 2021 by Ken Zino
Ken Zino of AutoInformed.com on the FAA Military Airport Program

A needed infrastructure program.

The U.S. Department of Transportation’s Federal Aviation Administration (FAA) has selected three airports to be eligible for grants to add civilian aviation operations at former and current military airfields.

The infrastructure building idea is to add capacity and help to reduce congestion at existing airports. Kelly Field in San Antonio, Texas; Mobile Downtown Airport in Mobile, Alabama; and Salina Regional Airport in Salina, Kansas, will now be able to apply for Airport Improvement Grants.

“Adding civilian flights to these airports increases their role in fostering economic growth and creating jobs in their communities,” said U.S. Transportation Secretary Pete Buttigieg.
Continue reading →

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