Ford Motor Company posted Q1 revenue increases to $36.2 billion, producing net income of $3.3 billion, which was the best since 2011, and a record adjusted EBIT of $4.8 billion. Global sales were 1,062,000 vehicles. However, semi-conductor problems loom. All told, Ford CFO John Lawyer said the company now expects to lose about 1.1 million units of production this year due to the semiconductor shortage. Continue reading
Two senior Ford executives are getting new strategic assignments. Steven Armstrong, who has led the Changan Ford joint venture in China for the past year and one-half, will become transformation officer, South America and India, effective May 1. He will lead evaluation of capital allocations to India and conclusion of restructuring of Ford’s South America business. Ford claimed in January that going forward it will serve customers in South America with increasingly electrified SUVs, pickups and commercial vehicles sourced from Argentina, Uruguay and other markets. Continue reading
Truck/SUVs are on pace to account for 76.1% of new-vehicle retail sales in April.
New-vehicle retail sales for April 2021 are expected to be the highest ever recorded for the month of April, according to a joint forecast from J.D. Power and LMC Automotive just issued. Retail sales for new vehicles are projected to reach 1,325,500 units, a 110.6% increase compared with April 2020, and an 20.8% increase compared with April 2019, when adjusted for selling days.*
Total new-vehicle sales for April 2021, including retail and non-retail transactions, are forecast to reach 1,479,800 units, a 107.1% increase from April 2020 and a 7.8% increase from April 2019 when adjusted for selling days. Reporting the same numbers without controlling for the number of selling days translates to a 107.1% increase from April 2020 and a 12.1% increase from April 2019. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 18.1 million units, up 9.4 million units from 2020 and up 1.7 million units from 2019. Continue reading
A group of employees of the Fonderie de Bretagne who were holding seven members of the company at the Caudan site in western France that makes parts for several Renault vehicles ended early this morning after 12 hours. At issue was the future of the plant and roughly 350 jobs. A CGT union spokesperson said the managers still refused to talk or bargain in good faith.
AutoInformed first became aware of the union action late yesterday when Renault issued an unusual statement on its website: “Renault Group strongly condemns these actions and calls for the lifting of the blockade and an immediate return to calm. Renault Group recalls that the search for a buyer is currently underway in order to maintain the site’s activities and ensure the continuity of jobs. This process must continue with dialogue and calm.” Continue reading
Penske Automotive Group, Inc. (NYSE:PAG) today reported the highest Q1 revenue, income from continuing operations, and earnings per share in company history. For the three months ended March 31, 2021, the company reported a 253.7% increase in income from continuing operations attributable to common shareholders to $182.5 million and a 253.1% increase in related earnings per share to $2.26. This compares to income from continuing operations attributable to common shareholders of $51.6 million, or $0.64 per share in the prior year, which was affected by the Covid pandemic. Foreign exchange positively impacted earnings per share by $0.05 in the first quarter of 2021. Total revenue increased 15.3% to $5.8 billion from $5.0 billion in 2020.
Penske – as a diversified international transportation services company – is a good leading indicator of the overall health of the transportation sectors with the caveat that it is heavily biased toward luxury brands. Continue reading
Dane Hardware, Ford Motor design and release engineer, and Mary Fredrick, Ford battery validation engineer, measure the voltage of a battery using a digital multi-meter at Ford’s Battery Benchmarking and Test Laboratory in Allen Park MI.
Ford Motor today announced a new global battery “center of excellence “ called Ford Ion Park in southeast MI. It is supposed to accelerate research and development of battery and battery cell technology, including future battery manufacturing – areas where Ford is lagging behind other automakers, notably General Motors in the US and global makers such as BMW, Nissan, Toyota and Honda. Continue reading
Suzuki Motor, Subaru, Daihatsu, Toyota Motor and Mazda Motor announced this morning an agreement to jointly develop technical specifications for next-generation vehicle communications devices. The Japanese companies – led and dominated by Toyota – said they want “to promote the common use of communications systems, by using connected services to link automobiles and society with the aim of creating new appeal, value and services, to be standardized for early provision of safer and more convenient connected services.”
Within the field of CASE (connected, autonomous/automated, shared, and electric), which is bringing about major alterations in the auto industry, advances are being made in the connected domain. These include the communications and data aspects of technology and business such as cloud services, IoT, big data, and AI. These are the basic functions of the connected car. Regulators thus far appear to be oblivious to the anti-trust and monopoly or cartel implications of such consolidations and their possible negative effects on customer pricing. The industry views connected cars as a major new source of revenue. Therefore, more is better. Continue reading
Unbridled Extend in marketing babble is a track- and closed-course-only take on Unbridled mode that balances power output for lap time consistency.
Deliveries of the Mustang Mach-E GT and Mustang Mach-E GT Performance Edition will begin in early fall and will continue through the end of 2021. Both will be available for ordering this Wednesday. Estimated starting MSRP of the 2021 Mustang Mach-E GT is $59,900 and the Mustang Mach-E GT Performance Edition is $64,900 in the U.S. Both are eligible for the available federal tax incentive**. You can order your Mustang Mach-E GT here or via a Ford EV-certified dealer. (All-Electric Ford Mustang Mach-E ‘SUV’ Debuts in 2020, Ford Motor Recalls All 2021 Mustang Mach-E Crossovers)
Mustang Mach-E GT has electric all-wheel-drive and permanent magnetic dual motors, including an upgraded secondary electric motor that powers the front wheels for a combined power output of 480 peak horsepower and 600 lb.-ft. of torque. It aims for a 0-60 mph time of 3.8 seconds while targeting an EPA-estimated 250 miles of range.
Continue reading
Virtual highway – A8 autobahn near Stuttgart Airport in a Game Engine simulation.
Porsche Engineering is using software from the gaming industry to develop so-called “intelligent vehicles” of the future. Game Engines generate photo-realistic images of various quality and help the physically correct behavior of objects in computer and video games. Among other functions, Porsche Engineering is now using these software packages for the virtual development and testing of highly automated driving functions. It’s a common practice at other automakers, too.
In theory, it shortens development times, saves costs and makes mobility safer, according to Porsche. Furthermore, in the nascent Porsche Car Configurator, Game Engines are intended to help the customer in the configuration of her vehicle in retail. In the future, customers in Porsche Centers will see an “almost photo-realistic, three-dimensional simulation of their configured vehicle” via a gaming PC with connected VR glasses. Continue reading
Cowes to Dinard is the second of three records sought in Maserati’s English Channel racing program.
Maserati Multi 70 and Giovanni Soldini won in a seagoing duel against Peter Cunningham’s MOD 70 PowerPlay and beat the Channel Record last week. They set sail off Cowes (UK) on 22 April at 9:13:40 GMT and they crossed the finish line off Dinard (FR) at 13:44:29 GMT, sailing 138 miles in 4 hours, 30 minutes and 49 seconds. With an average speed of 30.59 knots this was just under 4 minutes less than the competitor PowerPlay that finished the race with an elapsed time of 4 hours, 34 minutes and 6 seconds.
The Italian Team’s time is 18 minutes better than the 2015 record set by Lloyd Thornburg and Brian Thompson aboard Phaedo. The elapsed times have been collected by the two competing teams; they will have to be ratified by the World Sailing Speed Racing Council. Aboard the trimaran, Soldini sailed with a six-man crew: Ambrogio Beccaria, Vittorio Bissaro, Guido Broggi, François Robert, Carlos Hernandez Robayna and Matteo Soldini. Continue reading
More of a dream than the recent Daimler operational nightmares – if it continues?
Daimler AG (ticker: DAI) reported strong results for Q1 ending 31 March 2021 and raised its outlook for the full year. The Group’s total unit sales increased by 13% to 728,600 cars and commercial vehicles (Q1 2020: 644,300) due to the recovery of the global economy combined with what Daimler opines is “an attractive vehicle portfolio.” Revenue rose to €41.0 billion (Q1 2020: €37.2 billion) from favorable product mix and pricing. (Cash Crunch? BMW and Daimler to Sell PARK NOW Joint Venture to EasyPark Group, Daimler Earns €4.0 billion in 2020, Daimler to Spin-Off Daimler Truck into Separate Company)
The good operating performance in the first-quarter translated into an EBIT surge to €5,748 million (Q1 2020: €617 million). Adjusted EBIT, reflecting the underlying business, also multiplied to €4,970 million (Q1 2020: €719 million). China, the world’s largest vehicle market, was a key component in the comeback after it successfully fought off the Covid pandemic that Europe and the Americas are still struggling with. Continue reading
Toyota Gazoo Racing will begin a new era with its GR010 Hybrid Hypercar when the road to the Le Mans 24 Hours opens at the 6 Hours of Spa-Francorchamps in Belgium. This opening round of the 2021 FIA World Endurance Championship (WEC) on 1 May is a successor to the Group C period of the 1980s and 1990s, and the subsequent the LMP1 era that has now reached its conclusion. The new top category of endurance racing is the Le Mans Hypercar generation.
Reigning World Champion and three-time Le Mans winner Toyota Gazoo Racing today became the first manufacturer on the Hypercar grid in 2021, alongside Scuderia Cameron Glickenhaus, with Audi, Ferrari, Peugeot and Porsche among those joining the battle in the coming years. Continue reading
In his first speech Honda Motor Co. President and Representative Director Toshihiro Mibe said the automotive giant will be all-electric globally by 2040.
As part of sweeping initiatives that will also drastically alter Honda’s motorcycle and small engine businesses that make Honda the world’s largest power unit manufacturer, Honda will also try to achieve carbon neutrality for all products and corporate activities Honda is involved in by 2050. Continue reading
The U.S. Department of Transportation today endorsed President Biden’s January 20 executive order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis. NHTSA proposed to withdraw its portions of the so-called SAFE I Rule, which sought to preempt States, including California, from issuing their own greenhouse gas emissions standards and zero-emissions vehicle mandates.
The proposed action would establish a clean slate, enabling the Department to further the Administration’s fuel economy, equity, and climate change priorities — which include reversing unnecessary and potentially unlawful efforts to prevent state action. It is a repudiation of the anti-environmental polices of the disgraced previous Administration that was voted out last November. Continue reading
FY2021 Toyota Sales, Production Drop Less than 10%
Global sales in FY2021 were down 4% primarily by lost sales in China, North America, and Japan.
Toyota Motor Corporation says despite the COVID-19 pandemic that began spreading early in 2020, Toyota was able to continue corporate activities through the implementation of various infection prevention measures and by working with partners including suppliers and dealers and focusing on “doing what should be done.”
Toyota’s global sales and production have both been up year-on-year since September 2020, enabling Toyota to limit the year-on-year decline in sales and production to less than -10% in FY2021 ending 31 March 2021. Additionally, Toyota has maintained domestic production at the 3-million-unit level. Continue reading →