Daimler Raises Financial Targets After Strong Q1 Results

Posted on 24 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on Daimler AG posts strong results for Q1 2021

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 →

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Reigning Champ Toyota Gazoo Racing Hypercar Set for 2021

Posted on 23 April 2021 by Ken Zino

Ken Zino of AutoInformed.com on Toyota Gazoo Racing WEC GR010 Hybrid HypercarToyota 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 →

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Honda to Abandon IC Engines – Global Electrification by 2040

Posted on 23 April 2021 by Ken Zino

Ken Zino of AutoInformed.com on Honda to Abandon IC Engines for Global Electrification by 2040In 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 →

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NHTSA Taking Steps to Allow States to Set Greenhouse Gas Emissions Standards and Zero-Emissions Vehicle Mandates

Posted on 22 April 2021 by Ken Zino

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 →

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Groupe Renault Posts Flat Results for Q1 2021

Posted on 22 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on Groupe Renault Results Q1 2021

Click to Enlarge.

Groupe Renault sold 665,038 vehicles during Q1 2021, up 1.1% compared to the first quarter of 2020. In a pre-emptive assertion over the lackluster performance, management claimed “in a context still disturbed by the pandemic’… this start of the year “confirmed the positive impact of the Group’s profitability-oriented commercial policy, with a price effect of over 6 points.”

Well, during Q1 2021, Group revenues were  €10,015 million (-1.1%). At constant exchange rates1, Group revenues would have increased by 4.4%. Automotive excluding AVTOVAZ revenues amounted to €8,566 million, down -0.3%. In addition to the change in inventories, which explains most of the negative impact of the volume (-6.5 points), revenues were adversely affected by a negative currency effect of -4.3 points. Continue reading →

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Volkswagen de México Exporting Taos SUVs to US

Posted on 21 April 2021 by Ken Zino
Ken Zino of AutoInformed.com Volkswagen de México begins exports of Taos to US 16 April 2021

The right product for the booming US SUV market, now with a stable Administration, which is thus far disinclined to start trade wars.

Volkswagen de México is now exporting to the US the new Taos, which is produced at the Puebla plant. Production of the compact Taos began in October 2020 for the Mexican market. In early February of this year, Volkswagen de México announced the start of manufacturing of the SUV for export markets – with the first shipment of production units now underway. (US, Mexican Volkswagen Plants to Link with Industrial Cloud)

Since its foundation, Volkswagen de Mexico has produced more than 13 million of vehicles. Currently, the Puebla Plant produces the Jetta, Tiguan LWB and Taos models; the Silao Plant produces the engines EA888 and EA211, which are integrated in the production of vehicles for the Volkswagen Brand and Audi, in North America. Continue reading →

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Shown ‘n Go – Ford Performance Carbon Fiber Parts

Posted on 21 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on Ford Performance Lightweight Carbon Fiber Parts

Like racing this is not in-expensive at $1820.

Ford Performance Parts has four new aftermarket carbon fiber components for the exterior of the Mustang Shelby GT500*. The expensive parts are the first aftermarket carbon fiber accessories offered for the pony car since the latest-generation GT500 debuted last year. Each carbon fiber component delivers high strength and rigidity with low-specific weight and can withstand the high-energy forces generated by competition at the track or drag strip, according to Ford.

The weight of the carbon fiber hood vent and rain tray kit is trimmed to four pounds – half the weight of the stock parts. The front splitter with belly pan drops from seven pounds to four, the front bumper insert weighs just one pound, and the deck-lid trim panel weighs two pounds. Combined, the pieces weigh nine pounds less than the stock components. Continue reading →

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FBI with a Tesla Employee’s Help Stops Malware Attack

Posted on 20 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on FBI with a Tesla Employee’s Help Stops Malware Attack

Cyber Security remains problematic in the auto industry as it electrifies.

Egor Igorevich Kriuchkov plead guilty to offering a Tesla employee $1 million to inject malware into the company’s battery plant in Nevada, according to Upstream Security*. The Tesla employee informed the company and cooperated with the FBI who stopped the plot at its inception.

Kriuchkov planned to cripple Tesla’s electric battery plant in Nevada with ransomware and steal company secrets for extortion. Furthermore, it was alleged that Kriuchkov acted on behalf of co-conspirators abroad and attempted to use face-to-face bribery to recruit the insider. The goal of the insider was to physically plant a ransomware which scrambles data on targeted networks and can only be unlocked with a software key provided by the attackers. Continue reading →

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Q1 Financial Results of BMW Exceed Market Expectations

Posted on 20 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on electric BMW i4

First ever all-electric BMW i4.

BMW AG reported unexpected  sales growth in all significant regions of the world, in particular in China, and all brands during Q1 2021.

In addition, positive price and mix effects, as well as high demand for used cars, also helped key financial performance figures of BMW AG, which exceeded market expectations. Part of the reason, of course, was extremely low expectations for the Munich-based auto conglomerate because of the ongoing Covid 19 pandemic. Continue reading →

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Magna Wins Additional EV Component Business in China

Posted on 20 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on Chinese electric vehicle start-ups

NextEV NIO EP9 – World’s Fastest EV?

Magna has won additional business to further support Chinese electric vehicle (EV) start-ups in the world’s largest and most CO2 producing vehicle market. Magna’s joint venture with Jiangling Motors Company celebrated a major milestone, achieving its 100,000th eDrive gearbox produced.

Magna’s plant in Jiangxi began production of eDrive gearboxes in 2018 with a claimed high efficiency, best-in-class power density; excellent noise, vibration and harshness performance; and a complete torque range from 200Nm to 530Nm. (read AutoInformed on NextEV NIO EP9 – World’s Fastest EV?) Continue reading →

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Fourth Annual Philadelphia Concours d’Elegance – 17 July

Posted on 20 April 2021 by Ken Zino

Ken Zino of AutoInformed.com on The Philadelphia Concours d’EleganceThe Philadelphia Concours d’Elegance show in the City of Brotherly Love returns on 17 July 2021 to celebrate Corvette – “America’s Sports Car.” Last year’s two-day event was cancelled due to the pandemic and this fourth “annual” event has been rescheduled as a one-day program. All current State guidelines for pandemic restrictions will be in place to ensure the safety of all participants and attendees.

The nonprofit Cool Cars for Kids, Inc. (CCfK) will stage a classic car “competition of elegance” at the Simeone Foundation Automotive Museum in Philadelphia, which in 2019 was voted the “No. 1 Car Collection in the World” by The Classic Car Trust. The event benefits the Children’s Hospital of Philadelphia (CHOP) in providing help and hope to children with rare genetic diagnoses and their families, and to support research that will identify the best possible treatments. Continue reading →

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Maserati Debuts Levante Hybrid SUV at Shanghai Auto Show

Posted on 19 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on Maserati Levante Hybrid SUV

Maserati Levante Hybrid is also present in a virtual world at the brand’s website houseof.maserati.com.

As the largest Auto Show in the world reopens – Shanghai 2021 – Maserati debuted the Levante Hybrid, the first electrified SUV in its history. The MC20, Maserati’s super sports car, also makes its first appearance at the Shanghai Auto Show alongside the global premiere of the F Tributo Special Edition.

“Shanghai Auto Show is an extremely important event for our Brand. The Show marks a rebirth in difficult times. We believe strongly in this new beginning, and today we are showcasing several world premieres that project us straight into the future,” said Maserati CEO Davide Grasso. (New FCA Italy Covid Credit Line €6.3 billion) Continue reading →

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Toyota, Subaru at Shanghai Introduce Latest Joint-Venture EVs

Posted on 19 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on Toyota and Subaru jointly developed EVs

As it stands now, Toyota plans to expand to around 70 electrified models globally by 2025.

In the growing partnership between Toyota and Subaru to become carbon-neutral to ameliorate the devastating effects of global climate change, the companies used Auto Shanghai, a motor show held in Shanghai, China, to introduce their latest jointly developed electric vehicle –  the bZ4X.  The Toyota bZ4X Concept, is the first of a global series of battery-electric vehicles to be introduced under the “Toyota bZ” brand umbrella. Other partners in the green juggernaut under full sail include BYD, Daihatsu and Suzuki. Toyota plans to introduce 15 BEV models by 2025, including seven new BEV models of the Toyota bZ series. (Japan Inc: Toyota and Hino to Pioneer Light-Duty Fuel Cell Electric Trucks with Seven-Eleven, FamilyMart, and Lawson)

Toyota plans to produce the Toyota bZ4X in Japan and China, with worldwide sales of the model by the middle of 2022. U.S. product details eventually will emerge, but the product lines were under development with during the previously failed administration, currently ensconced in exile at Mira-lardo, that was hostile to globalization and started a losing trade war with China, the world’s largest auto market. Some delays were inevitable. The Toyota US lineup that, in total, accounts for more than 40% of all alternative powertrain vehicles sold in the U.S. – including battery electric, hydrogen fuel cell electrics, hybrids and plug-in hybrids. Continue reading →

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Toyota Recalls 280,000 Venza Models for Defective Side Airbags

Posted on 19 April 2021 by Ken Zino

Toyota Motor Engineering & Manufacturing is recalling 2009-2015 Venza crossovers. The Supplemental Restraint System (SRS) wiring may become damaged with regular use of the driver-side door. This can prevent the side airbag and curtain shield airbag on the driver side from deploying in collisions, increasing the risk of injury during a crash.

The Venza models  are equipped with an airbag sensor installed in the driver- side front door. The sensor is connected to the Supplemental Restraint System Electronic Control Unit by a pair of twisted wires in a Yazaki North America supplied harness routed from the door to the vehicle body through a grommet. Because of a larger difference between the wire harness length and grommet length, there is a tighter bending radius for the wire harness inside the grommet. Continue reading →

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GM and LG Energy to Build Second Battery Cell Plant in US

Posted on 16 April 2021 by Ken Zino
Ken Zino of AutoInformed.com on General Motors and LG Energy

Why do Republicans – the party of No – oppose the creation of American Jobs? Click to enlarge.

Ultium Cells, a joint-venture of LG Energy Solution and General Motors, today announced a $2.3 billion investment to build its second battery cell manufacturing plant in the United States. The Ultium Cells facility will be located in Spring Hill, Tennessee – the home of the original Saturn plant. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies to accelerate automotive electrification. (GMC Adds Hummer SUV EV. Direct Selling Without Dealers?, GM Needs Range, Battery Cost Cuts to Speed EV Plans, Environmental About Face – General Motors Ditching Internal Combustion Engines by 2035. Carbon Neutral by 2040?)

Ultium Cells will build the new plant on land leased from GM. The new battery cell plant will create 1,300 new jobs. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. Once operational, the facility will supply battery cells to GM’s Spring Hill assembly plant. The latest move clearly positions Korean company LG as the key partner in GM’s push for leadership in the growing Electric Vehicle market. Continue reading →

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