Ford Motor is recalling 2021 Bronco vehicles for unsafe airbags. During passenger air bag deployment, an air bag vent could open prematurely and result in an improper deployment. The new Bronco trucks fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 208, “Occupant Crash Protection.” The defect was traced to a Mexican assembler who improperly folded the airbags. (Ford Bronco Production Underway at Michigan Assembly Plant) Continue reading
Stellantis (NYSE: STLA) today said it would invest a total of $229 million in three of its Kokomo, Indiana, plants to help the company reach its goal of achieving 40% low-emission vehicle sales in the U.S. by 2030. This announcement, which will retain 662 jobs, comes three months after the company laid out its long-term electrification strategy, where it committed to investing $35 billion through 2025 in electrification and software. (Stellantis Ups Electrification Strategy by $35.54 Billion)
In the U.S., Stellantis’ LEV mix for passenger cars and light-duty trucks is expected to be more than 40% by 2030. In the U.S., Stellantis’ LEV mix for passenger cars and light-duty trucks is expected to be more than 40% by 2030. The Company is targeting for the total cost of ownership – not buying price – of EVs to be equivalent to internal combustion engine vehicles by 2026. (Toyota, Subaru at Shanghai Introduce Latest Joint-Venture EVs, Volkswagen ID.4 – Most Affordable AWD Electric Vehicle in US?, Renault Group to Launch 10 Battery-Electric Vehicles by 2025) Continue reading
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Alpine says it will continue and extend its endurance program. The brand will compete in the LMDh premier class1 – aka Hypercar – starting in 2024 with the support of Signatech, which is currently working with the Alpine F1 Team.
A French team – Alpine Elf Matmut took the third podium spot at LeMans this year, with the Alpine A480 Gibson driven by Andre Negrao, Nicolas Lapierre and Matthieu Vaxiviere finishing four laps behind the race-winning Toyota.
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Hyundai and Amazon Ads are modifying car shopping with new features launching today on Hyundai’s Evolve showroom on Amazon. The expansion of the digital showroom allows shoppers to discover available vehicles at participating dealers and begin the vehicle selection process directly on Amazon.
How long the dealers remain part of the process is an interesting question. “Customers can configure and estimate the price of their desired Hyundai vehicle, locate real-time inventory and contact dealers to complete the sale,” Hyundai said in a release. (Kia America Dabbles with On-Demand, At-Home Car Shopping) Continue reading
The West European passenger car selling rate dropped to 9.7 million units annually during September. This was a sharp drop from the 11.9 mn units/year in August, according to consultancy LMC Automotive.
“The latest monthly results are clear evidence of the major sourcing issues that are haunting global vehicle production currently, with dealerships unable to meet consumer demand. Adding to market headwinds, those vehicles that are available are generally higher priced, as OEMs look to target the production of higher margin products,” said LMC. Continue reading
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General Motors (NYSE: GM) told investors today that it plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions to an all-electric future. GM has already announced plans to invest $35 billion through 2025 in all-electric and autonomous vehicles and launch more than 30 new EVs globally, of course
However, the success of the prediction will depend on GM smoothly transitioning from internal combustion engines, traditional blacksmithing manufacturing, while keeping dealers and training them for what is the most significant transformation the auto industry has ever seen. This is how science fiction becomes science fact with GM selling more than one million EVs by 2025; 30 million connected vehicles in North America on the road by 2030. Along the way the United States and ultimately the world will turn into an environmental culture that uses technology to make things cleaner and safer. Continue reading
The future is electric, so to speak.
General Motors today said that the Wallace Battery Cell Innovation Center will be located on the campus of GM’s Global Technical Center in Warren, Michigan. The all-new building “will significantly expand the company’s battery technology operations and accelerate development and commercialization of longer range, more affordable electric vehicle batteries,” GM said in a release. GM will also use the facility to integrate the work of GM-affiliated battery innovators, helping the company to reach its stated goal of at least 60 % lower battery costs with the next generation of Ultium.
The latest GM announcement comes just one day after it said it reached a deal with Wolfspeed (to develop and provide silicon carbide power devices for GM’s future electric vehicle programs. Wolfspeed’s silicon carbide devices will allow GM to “install more efficient EV propulsion systems that will extend the range” of its growing EV portfolio. Continue reading
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Affordability and supply problems dropped US September light vehicle sales to their lowest point during Covid-plagued 2021. They were, in fact, at their lowest level for the month of September since 2010, according to LMC Automotive, a respected independent automotive global forecasting and market intelligence company.
Automakers sold just under 1 million during September, down by -25% YoY. The annualized rate fell to 12 million units, the same level registered in May 2020 and 1 million units under the August Seasonally Adjusted Annualized Rate, aka SAAR. During Q3 light vehicle sales totaled 3.36 million units, down by -14% YoY and the lowest Q3 since 2011 as volumes plunged -22% from the pre-pandemic level in Q3 2019. (GM Q3 US Sales Drop -33% as Semiconductor Shortage Bites) Continue reading
Not a winning performance by Vitesco Technologies of Texas.
General Motors recalling 15,000 2021 Cadillac Escalade, Escalade ESV, Chevrolet Suburban, Tahoe, GMC Yukon, and Yukon XL vehicles. The fuel pump power control module may cause the fuel pump to fail or operate intermittently, which can interrupt fuel flow to the engine. The worst case is an unexpected engine stall.
Dealers will replace the fuel pump power control module, free of charge as required by US law. Analysis of field data and returned warranty-replaced parts indicates that the condition was caused by a supplier manufacturing issue by Vitesco Technologies in Seguin Texas. Continue reading
GM will participate in the so-called (and unproven) Wolfspeed Assurance of Supply Program, which “is intended to secure domestic, sustainable and scalable materials for EV production.”
General Motors (NYSE: GM) and Wolfspeed (NYSE: WOLF) today announced a supplier agreement to develop and provide silicon carbide power devices for GM’s future electric vehicle programs. Wolfspeed’s silicon carbide devices will allow GM to “install more efficient EV propulsion systems that will extend the range” of its growing EV portfolio. The silicon carbide involved will be used in the integrated power electronics contained within GM’s Ultium Drive units in its next-generation EVs. (Environmental About Face – General Motors Ditching Internal Combustion Engines by 2035. Carbon Neutral by 2040?; GM Needs Range, Battery Cost Cuts to Speed EV Plans; GM Ups Bet by $35B in Autonomous, Electric Vehicle Games)
In a move that is designed to ensure supply and assuage the doubts of the capital markets about the semi-conductor shortage disaster, as part of the agreement, GM will participate in the so-called (and unproven) Wolfspeed Assurance of Supply Program (WS AoSP), which “is intended to secure domestic, sustainable and scalable materials for EV production.” During September, Toyota outsold General Motors by 123,000 units. In fact September was such a weak month for GM that four other OEMs had stronger volume performance, with Hyundai topping GM for the first time ever. Continue reading
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Rolls-Royce’s Coachbuild Boat Tail makes its global public debut tomorrow at the snobby (boogie?) Concorso d’Eleganza Villa d’Este* on 2 October 2021. The car will be unveiled at 11.30 local time on the Mosaic Lawn by Torsten Müller-Ötvös, Chief Executive Officer, Rolls-Royce Motor Cars, which is owned by BMW**. It will then be available for guests and journalists to view for two days before returning to the seclusion that have surrounded it since it was formally revealed in May 2021.
Boat Tail marks a retrograde moment in the archives of Rolls-Royce, “demonstrating the brand’s commitment to coachbuilding as a central part of its future direction and portfolio. It continues and accelerates a contemporary coachbuilding movement that began with Sweptail, the first Coachbuild Rolls-Royce of the modern era, which also made its first public appearance at Villa d’Este back in 2017.” Continue reading
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General Motors Co. (NYSE: GM) dealers delivered 446,997 vehicles in the U.S. in the third quarter of 2021, down 218,195 units or -33% from a year ago because of semiconductor supply chain disruptions and historically low inventories.
During the quarter, GM provided an update for investors that its wholesale volumes in North America in the second half of 2021 would be down about 200,000 units from the first half, largely because of supply chain disruptions in Malaysia caused by COVID-19, with most of the impact occurring during the third quarter.
GM’s financial outlook is still expected to be within the calendar year guidance range previously provided as the company continues to develop solutions to mitigate the impacts of the semiconductor shortage and Chevrolet Bolt EV recall. (Confirmed: General Motors to Recall more Bolt EVs at $1B Cost) Continue reading
Mazda Toyota Manufacturing (MTM) and 2,000 non-unionized workers have celebrated the start of production of the all-new 2022 Corolla Cross. MTM, the only North American facility to produce the Corolla Cross, is a joint-venture between Mazda Motor Corporation and Toyota Motor Corporation in Alabama. The plant continues to hire in preparation for production of the as-yet-to-be-announced Mazda vehicle.
Alabama, aside from its history of racism and white supremacy, is a right to work*” (for less?) state, which means workers don’t have to be unionized.** Want to bet the Mazda will be a crossover, with maybe a sub-line for a hybrid and or EV? Toyota is vehemently lobbying against the Biden Administration’s ambitious Build Back Better plan that has a provision for made in American by union workers to be eligible for substantial taxpayer-subsidized EV subsidies. This is part of a forward-thinking strategic plan to create middle-class jobs and benefits from the Administration that was put in place by a majority of voters to rid our democracy of the treasonous former Administration still being led from Trump Castle in Mar-a-Lago (Mar-a-Lardo?) that promoted the January 6 insurrection attempt to take over the US Capital and overturn the Presidential election, aka Big Lie. Continue reading
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Today at the virtual Extraordinary General Meeting of Daimler AG (ticker DAI), the shareholders approved by an overwhelming majority on the realignment of the company.
The spin-off of the truck and bus business and the subsequent listing of Daimler Truck Holding AG as an independent company on the Frankfurt Stock Exchange were approved by 99.90% of the capital stock represented for the resolution. About 3000 viewers followed the virtual Extraordinary General Meeting on the Internet. A bare majority of 56.45% of the share capital was represented. Continue reading
LG Electronics to Reimburse GM for $1.9B Bolt EV Recall Costs
General Motors (NYSE: GM) announced today it has reached an agreement whereby LG Electronics will reimburse GM for costs and expenses associated with the recall of Chevrolet Bolt EVs and EUVs due to manufacturing defects in battery modules supplied by LG. (Confirmed: General Motors to Recall more Bolt EVs at $1B Cost; NHTSA – Urgent Fire Recall Again on 2017-2019 Chevrolet Bolts; GM and LG Energy to Build Second Battery Cell Plant in US)
As a result of the agreement, GM will recognize an estimated recovery in its third-quarter earnings that will offset $1.9 billion of $2.0 billion in charges associated with the recalls. Continue reading →