Honda Motor Posts FY 2021 Operating Profit of ¥660.2 Billion

Posted on 14 May 2021 by Ken Zino

Ken Zino of AutoInformed.com on Honda Motor Profit of 660.2 billion Yen FY 2021Honda Motor today in Japan said that notwithstanding unfavorable factors such as a decrease in demand due to the impact of the COVID-19 pandemic and the impact of semi-conductor supply shortages, it made a consolidated operating profit for the fiscal year ended March 31, 2021 (FY21) of 660.2 billion yen ($6.036B). This was due “primarily to control of selling, general and administrative (SG&A) expenses and cost reduction efforts based on a review of business activities, as well as an increase in profit due to a year-on-year difference in the amount of the provision for credit losses recorded for financial services business.”

Consolidated profit for the year attributable to owners of the parent company faced a year-on-year increase that amounted to 657.4 billion yen, due also to an increase in the share of profit of investments accounted for using the equity method. Continue reading →

Tweet
Posted in financial results, sales | Tagged , , , , | Leave a comment

Mazda FY 2021 Financial Results – Net Income -81%

Posted on 14 May 2021 by Ken Zino

Ken Zino of AutoInformed.com on Mazda Fiscal Year 2021 Financial ResultsMazda Motor Corp.’s global sales volume from April 2020 through March 2021 decreased 9.3% year-on-year because of decreased sales in Europe and other regions. China and the US posted ~7% gains. Continue reading →

Tweet
Posted in financial results, sales | Tagged , , , , , | Leave a comment

Equivalent Gas Tax or Fee on EVs to Offset Lost Revenue?

Posted on 14 May 2021 by Ken Zino

Ken Zino of AutoInformed.com on taxing electric vehicles to offset gasoline tax lossesWhat happens to the  badly depleted Highway Trust Fund as the use of EVs grows and gasoline taxes no longer apply? Right now about 1% of the U.S. vehicle fleet is electric, but automakers and governments are moving toward a fossil-fuel free economy, with implications for the “business-as-usual” Congress when or if voters realize that the roads can get even worse than they are now. The federal gasoline excise tax is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel right now. Attempts to raise it since October of 1993 have failed. Worse, it is not indexed to inflation. If it were it would be roughly 80% higher. The low-profile debate about the issue recently arose in a Congressional hearing that went largely unnoticed.

CBO said that if Congress were to levy an annual fee on EVs in an amount that is approximately proportionate with the amount paid in gasoline tax? Taking as a starting point an average driver of a light duty passenger vehicle with a gasoline engine, how much revenue could be raised during the next five years? Moreover, what percent of the anticipated shortfall in the Highway Trust Fund would that be? Continue reading →

Tweet
Posted in alternative fuels, economy, electric vehicles, financial results, prices, transportation | Tagged , , , , , , | 1 Comment

Volkswagen, Argo AI to Start Autonomous Driving Tests

Posted on 13 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Volkswagen and Argo AI Start International Autonomous Driving Tests

It’s ugly but it will get itself there…

The first self-driving prototypes based on the future Volkswagen ID. BUZZ will begin operations in Munich this summer. It marks a milestone in the Group’s international collaboration, part of which sees Volkswagen Commercial Vehicles (VWCV) facilitating the development of Level 4-capable autonomous driving technology* for self-driving vans. ID. BUZZ, a VW Microbus-like EV, will arrive at dealerships after a compact four-door ID. model in 2022. Volkswagen is mainly targeting markets in North America, Europe and China with both the ID. BUZZ and the ID. family overall.

Current conventional automaker wisdom (wishdom?) has is that light commercial vehicles are the first, logical place for using autonomous transportation of people and goods. “Our aim with the self-driving version of the ID. BUZZ is to ease commercial deployment of transport and delivery services starting in 2025,” said divisional director Christian Senger during a digital press conference. VW Mobility service provider MOIA will first launch autonomous service in Hamburg, Germany. Continue reading →

Tweet
Posted in autonomous vehicles, milestones, mobility company | Tagged , , , , , , | Leave a comment

Ford DIY COVID-19 Air Filtration Kit?

Posted on 13 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Ford DIY COVID Air Filtration Kit

Click to Enlarge.

Ford claims that its COVID-19 air filtration kit co-developed with Lasko is effective in fighting the spread of the deadly virus. It cites a scientific journal as proof. The kit is based on Ford research as well as scientific studies by academic and government agencies. It can be assembled at home or in school.

An article, titled “Airborne Transmission of COVID-19 and Mitigation Using Box Fan Air Cleaners in a Poorly Ventilated Classroom,” was published this week in the journal “Physics of Fluids.” Led by Ford with the University of Minnesota, the article cites an investigation using supercomputer air flow analysis to determine if a low-cost box fan air cleaner can mitigate the risk of airborne transmission of COVID-19 in a classroom equipped with a single horizontal unit ventilator. Continue reading →

Tweet
Posted in engineering, environment, milestones | Tagged , , , , , , , | Leave a comment

AARP, Toyota to Provide Rides for Vaccine Appointments

Posted on 13 May 2021 by Ken Zino

AARP, Toyota and local Dallas organizations via a new transportation initiative* are using the AARP Ride@50+ program where multiple modes of transit can be found can now book rides, including transportation for COVID-19 vaccine appointments. It’s just one of the progressive initiatives that Toyota funds and supports. The support in Texas is ironic given Republican control of state and local politics, the ongoing support of GOP lies about the Presidential election results, and active anti-democracy attempts to suppress voting and other constitutional rights.

AARP also actively promulgated Republican denials about the seriousness of the Covid pandemic, going to the absurd point of giving Deborah Birx, the White House Coronavirus Response Coordinator under President Donald Trump from 2020 to 2021, a forum. Dr. Birx sat idly by at a White House briefing as Trump promoted the use of bleach taken by humans to fight Covid. Continue reading →

Tweet
Posted in AutoInformed Editorial, news analysis, transportation | Tagged , , , , , , , , , , | Leave a comment

April Global Sales – North America Up, Elsewhere Unsettled

Posted on 13 May 2021 by Ken Zino

The global Light Vehicle (LV) selling rate slipped to 86.5 million units/year in April, from 87.8 million units/year in March, according to Consultancy LMC. In year-on-year (YoY) terms, sales rose 77.6%. However, this seeming jump in market performance is distorted by the global-pandemic caused shutdowns in March of 2020. In the US, sales jumped, while China’s sales were hurt by the semiconductor famine. In Europe, fluctuating restrictions in several markets blocked any significant improvement from March 2021. (see chart following Continue reading jump)

Helped by President Biden’s economic stimulus in the face of Republican obstructionism, and states re-opening, the record setting rate of  US Light Vehicle sales continued in April. Sales of 1.54 million units were the highest-ever volume for that month. Continue reading →

Tweet
Posted in economy, news analysis, sales | Tagged , , , , , | Leave a comment

Toyota FY2021- Net Profit Surges 10% on $20.6B in Revenue

Posted on 12 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Toyota FY2021 Financial Results

Click to Enlarge.

Toyota posted solid FY 2021 results this morning in Japan leaving other global automakers in the dust. The world’s top-selling automaker in 2020 at 9.5 million vehicles revealed consolidated financial results of: Sales revenue at 27 trillion 214.5 billion yen; Operating income of 2 trillion 197.7 billion yen; Pre-tax income of 2 trillion 932.3 billion yen and, Net income of 2 trillion 245.2 billion yen. Excluding the overall impact of foreign exchange rates, swap valuation gains and losses and other factors, operating income increased by 10-billion-yen year-on-year.

Although operating income significantly decreased in the first half of the fiscal year, it increased in the 2nd half. In Japan, Europe and other regions, operating income decreased  mainly due to the decrease in sales volume. However, in North America and Asia, operating income increased year on year, thanks mainly to marketing efforts and cost reduction efforts. Toyota is also thus far unaffected by the semi-conductor shortage that is closing plants at competitors. Continue reading →

Tweet
Posted in electric vehicles, engineering, environment, financial results, mobility company, news analysis | Tagged , , , , , | Leave a comment

Toyota JV Will See SUV EV Branded Subaru Solterra in 2022

Posted on 11 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on 2022 Subaru Solterra and Toyota bZ4X

Ho-hummm…

Subaru of America, Inc. today announced that it will name its new full-electric SUV the Solterra. Designed as a joint venture between Subaru and Toyota, the Solterra has a new, dedicated all-electric platform named the e-SUBARU Global Platform.

The joint venture combines Subaru’s all-wheel drive technology with Toyota’s vehicle electrification technology. (Toyota, Subaru at Shanghai Introduce Latest Joint-Venture EVs, Suzuki, Subaru, Daihatsu, Toyota and Mazda form JV on Technical Specs for Next-Gen Vehicle Communications Devices) Continue reading →

Tweet
Posted in electric vehicles, new vehicle | Tagged , , , , , | 2 Comments

Mid-Engine Chevrolet Corvette to Pace 2021 Indy 500

Posted on 11 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Indianapolis 500 Corvette Convertible Pace Car

Click to Enlarge. Photo by Chris Owens/IMS for Chevrolet.

A 2021 mid-engine Chevrolet Corvette Stingray hardtop convertible will lead the 33-car field to the green flag for the 105th running of the Indianapolis 500 on May 30, 2021. The Arctic White Stingray will be the first convertible since 2008 to pace the race. 

Tweet
Posted in marketing, performance, racing | Tagged , , , , | Leave a comment

Nissan ‘Contributes’ -€73 million to Q1 2021 Renault Earnings

Posted on 11 May 2021 by Ken Zino

Today Nissan released its results for the fourth quarter of fiscal year 2020/2021 (April 1st, 2020 to March 31st, 2021). Nissan’s results, published in Japanese accounting standards, for the fourth quarter of fiscal year 2020/2021 (January 1st to March 31st, 2021), after IFRS restatements, will have a negative contribution to Renault’s first quarter 2021 net income estimated at – €73 million based on an average exchange rate of 127.7 yen/euro for the period under review. See Groupe Renault Posts Flat Results for Q1 2021, Nissan Reports Weak Q4, Full Year 2020 Financial Results.

Tweet
Posted in financial results | Tagged , , , , , | Leave a comment

Ultium Cells and Li-Cycle to Expand Recycling in North America

Posted on 11 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Ultium Cells and Li-Cycle to Expand Recycling in North America

The dirty secret is that EVs really aren’t clean. Click to Enlarge.

Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, announced an agreement today with Li-Cycle to recycle up to 100% of the material scrap from battery cell manufacturing.

The new recycling process will allow Ultium Cells in theory to recycle battery materials, including cobalt, nickel, lithium, graphite, copper, manganese and aluminum. It’s estimated that 95% of these materials can be used in the production of new batteries or for other industries. The hydro-metallurgical process through which these battery materials will be recycled emits 30% less greenhouse gas than traditional processes, it’s claimed, helping to minimize environmental impact. Continue reading →

Tweet
Posted in alternative fuels, electric vehicles, environment | Tagged , , , , | Leave a comment

Nissan Reports Weak Q4, Full Year 2020 Financial Results

Posted on 11 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Nissan Reports Q4, Full Fiscal Year 2020 Financial Results

Click to Enlarge.

Nissan Motor Co. today announced weak financial results for the fourth quarter and the 12-month period ended March 31, 2021. During fiscal year 2020, consolidated net revenue declined to 7.86 trillion yen, resulting in an operating loss of 150.7 billion yen, improved from the full-year forecast at the beginning of the fiscal year, and a net loss1 of 448.7 billion yen. This includes costs associated with restructuring by 61.3 billion yen as Nissan focused on operational and efficiency improvements to help the ailing business. Nissan expects to breakeven during FY 2021 even though forecast net income will drop by 60 billion Yen. (Nissan Losses ¥37.8 Billion in Q3. Alliance Still Shaky) Continue reading →

Tweet
Posted in economy, financial results | Tagged , , , , | Leave a comment

Off the Roof Rails – Ford Recalls 616,967 Explorer SUVs

Posted on 10 May 2021 by Ken Zino

Ford Motor Company is recalling 2016-2019 model Explorer SUVs. The retention pins on 616,967 Explorers could loosen and allow the roof rail covers to fly off the vehicle. The National Highway Traffic Safety Administration first asked about the issue in early 2020 following 11 reports of detachment of roof rail covers supplied by JAC Products of Saline Michigan.

This by AutoInformed’s count is the 22nd Ford Motor recall this year in the U.S. Ford said it is not aware of any reports of accident or injury related to this safety defect, perhaps the reason Ford took it’s time, according to the Chronology below. Continue reading →

Tweet
Posted in customer satisfaction, recalls, safety | Tagged , , , , , | 1 Comment

Renault Sport Cars Becomes Alpine Cars

Posted on 10 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Renault Sports Cars becomes Alpine

The Alpine team remains fifth in the Constructors’ Championship.

Starting at the beginning of May as part of a reorganization Renault Sport Cars became Alpine Cars, whose site is based in Les Ulis. The marketing driven name change, with the messy Renault Nissan divorce in the background, creates a business unit for the development of Renault Group sports models. Alpine aims to be a premium sports brand at the forefront of innovation and technology. By becoming Alpine Cars, the teams are embarking projects carried out with the support of the Alpine Racing teams and all of Renault Group’s businesses. (Groupe Renault Posts 2020 Loss of -€8.5 Billion, Groupe Renault Posts Flat Results for Q1 2021)

The challenges of that lofty goal were on full display yesterday during the Formula One race in Spain. The Alpine F1 Team’s Esteban Ocon scored two points at the  Spanish Grand Prix after finishing in ninth place at the Circuit de Barcelona-Catalunya with home favorite Fernando Alonso outside the points in seventeenth or in his case Formula None. Mercedes-Benz and Honda dominated the race. The team remains fifth in the Constructors’ Championship. Continue reading →

Tweet
Posted in engineering, marketing, performance | Tagged , , , , , , , | Leave a comment