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 →

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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 →

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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 →

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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 →

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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. 

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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.

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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 →

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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 →

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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 →

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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 →

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Census Bureau – 26% of Adults Struggle on Expenses

Posted on 7 May 2021 by Ken Zino

The U.S. Census Bureau reports that the negative social and economic effects of COVID-19 continue in the latest Household Pulse Survey that ended in April. Of  pressing concern –  adults living in households not current on rent or mortgage, 30.6% report eviction or foreclosure in the next two months is somewhat or very likely. Continue reading →

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BMW Group Q1 – Record Deliveries of 637,000, up 33%

Posted on 7 May 2021 by Ken Zino

The BMW Group set a new record for first-quarter deliveries with an increase of 33.4% to 636,606 units compared to the previous year in 2020 of 477,111. Q1 financial results showed a return in booming automotive segments of 9.8% EBIT. Demand for electrified vehicles – plug-in hybrids and fully electric – contributed to sales performance, with deliveries more than doubling compared to the same quarter one year earlier with a total of 70,207 electrified vehicles delivered to customers during the three-month period (2020: 30,692 units; +128.7%), including 14,161 units of the fully electric BMW iX3, BMW i3 and MINI Cooper SE models (2020: 6,457 units; +119.3%).

Improved revenues and earnings of €4.26 per share were driven by a combination of higher sales volume figures across all regions of the world, particularly in China, and higher selling prices. Helpful effects also came from the sharp rise in prices of used vehicles, causing revenues from the sale of previously leased vehicles to rise, above all in the USA where the Biden Administration economy is soaring. Group revenues grew by 15.2% to €26,778 million (2020: €23,252 million; +18.9% adjusted for currency factors). Continue reading →

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Stellantis First Ever Q1 Shows Revenue, Sales Increases

Posted on 6 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis’ First-Ever Q1 Results

Click to Enlarge.

In its first Q1 financial report since the merger of FCA and PSA at the beginning of January, Stellantis had net revenues that increased 14% at €34.3 billion or €37.0 billion on a pro forma basis – as if merger occurred on 1 January 2021.

This was primarily due to “higher overall volumes, positive net pricing, improved market mix, mainly in North America and Enlarged Europe, as well as favorable vehicle mix, partially offset by negative foreign exchange translation effects.” Continue reading →

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GM Posts Formidable First-Quarter 2021 Results

Posted on 5 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on GM First-Quarter 2021 earnings

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General Motors Co. (NYSE: GM) today reported Q1 2021 earnings of $2.98 billion boosted by strong price and better model-mix sales in North America, solid credit and residual value performance at GM Financial, as well as effective participation in the auto industry recovery in China, the world’s largest vehicle market.

During a call to media and investors GM said it was confident in its full-year 2021 guidance outlined earlier as it works to manage through the semiconductor shortage, which is negatively impacting all automakers globally. GM said it will lose production of 1.1 million vehicles during 2021, up from an earlier estimate of 200,000 to 400,000. Continue reading →

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April Sales Shower US Market More than 18 Million Times

Posted on 5 May 2021 by Ken Zino
Ken Zino of AutoInformed.com on Biden Administration’s Winning Government Policies

Click to Enlarge.

US new light-vehicle sales in total represented an 18.5 million-unit SAAR, the highest monthly sales rate since July 2005 with a 20.6 million SAAR. This refreshing rejuvenation is partly the results of improved social, health and economic conditions under the successful Biden Administration that acted urgently to quell the largest public health crisis in US history that the previous Administration either ignored or promoted. Enjoy the flowers that are coming your way.

Demand exceeding supply – while good for sellers – has its negative side as well. J.D. Power says average incentive spending per unit in April will likely total $3,191, a drop of $1,762 from the highs of April 2020 pandemic shutdown, but off  $382 from April 2019. This of course raises the specter of an affordability crisis, which has haunted auto executive offices in the past. Continue reading →

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