Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) at the Annual General Meeting of Shareholders (AGM) held virtually today says that all resolutions proposed to shareholders were adopted, including the proposal to approve a €1 billion extraordinary cash distribution on common shares. This resulted from the merger agreement entered into by Fiat Chrysler Automobiles and Peugeot S.A. on December 17, 2019. Continue reading
Subaru of America said today that it will conduct two large safety defect recalls. Owners will be notified within 60 days. The first recall is to check and/or update the engine control module (ECM) programming and to replace all ignition coils which could, over time, degrade and cause starting or dangerous stalling issues. This safety recall covers 466,205 vehicles comprising 2017-2019 Impreza and 2018-2019 Crosstrek models. No accidents or injuries have been reported due to this issue, according to Subaru. This new recall will supersede Subaru’s previous WUQ-02 ignition coil reprogramming recall issued in October 2019. All vehicles previously affected by the WUQ-02 recall will be affected by this new recall, WRE-21, and must return to complete the WRE-21 recall repair. Continue reading
Nearly 65% of all California EV owners have received a CVRP incentive. The project has issued more than $926 million to state residents for more than 405,750 new EVs.
The demand for electric vehicles has the California Air Resources Board saying today that rebate funds for the statewide Clean Vehicle Rebate Project (CVRP) will be exhausted within 30 days. California residents get up to $7,000 for the purchase or lease of a new, eligible zero-emission or plug-in hybrid light-duty vehicle. A wait-list will be established for application. Wait listed will receive a rebate contingent on funding appropriated through the legislative budget process. CARB also notes that there are additional opportunities throughout the state that consumers can take advantage of, including the Clean Fuel Reward, the Clean Air Vehicle Decal, and various local incentives offered by air districts and local governments.
“Existing funding for both standard and increased rebates is projected to be fully reserved in the coming weeks,” CARB said. Clearly CARB is trying to preempt or shape a potential political debate about EV subsidies are yet another example of how the system is rigged for the rich – the wealthier they are, the more taxpayer subsidies – aka socialism for the rich – accrue. Continue reading
The half rear-suicide-door was on the Saturn Ion Coupe decades ago. Maybe it’s time has come again?
Mazda North American Operations (MNAO) today semi-announced the introduction of the Mazda MX-30, its first battery-electric vehicle, in the US market beginning in fall 2021 at California dealerships. This is the first step in Mazda’s “multi-solution electrification strategy” that is lagging numerous other industry leaders.
“Mazda is preparing for the fast-changing US market demands by taking a multi-solution approach to electrification,” said Jeff Guyton, President of Mazda North American Operations, said. “The battery-powered MX-30 will begin the introduction of additional electrified models, including a series plug-in hybrid with a rotary generator for MX-30, a plug-in hybrid for our new, large platform, and a traditional hybrid for our new American-made crossover. While these powertrains will be optimized for their platforms.” Continue reading
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The U.S. Census Bureau today released a new data tool to examine changes in vaccination rates and vaccine hesitancy for the nation, states and some population characteristics. Executive summary: the higher the education level, the greater the rates of vaccinations.
Unfortunately President Biden’s thus far excellent COVID-19 vaccination crusade hit a giant wall (not paid for by Mexico) when regulators recommended a “pause” in administering Johnson & Johnson vaccine even though the odds of blood clotting are more than one in a million. Biden, optimistically, noted that with a temporary loss of J&J ’s one-shot vaccine, there is enough of a supply of Pfizer and Moderna vaccines “for every single, solitary American.” But data show tens of millions of Americans are uncertain about getting shots that doctors and other experts say are compulsory for the nation to rid itself of the pandemic. Continue reading
Infiniti Now – so to speak…
The ’22 Infiniti QX55 is now reaching North American showrooms. For US consumers, the Nissan sub-brand had a new digital reservation program that allowed shoppers to buy their car. QX55 has – it’s claimed – “generous” standard equipment, including wireless Apple CarPlay compatibility, 20-inch wheels, and Intelligent All-Wheel Drive for $46,500 MSRP to start.
The QX55 is the only compact “coupe” crossover available – it’s just a fastback version of the old four-door QX50 – with a VC-Turbo engine that changes compression ratio to deliver better fuel economy or power, as the driver wants. It has three trim levels – LUXE, ESSENTIAL and SENSORY, in marketing babble.
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The car that named a whole, ongoing segment.
For the second straight year, Ford Mustang is the world’s best-selling sports car. The famed pony car – it celebrates its 57th birthday Saturday – held its title of best-selling sports coupe for the sixth straight year. With good sales in high-performance Bullitt, Shelby GT350, Shelby GT350R and Shelby GT500 models, Mustang led all competitors with 80,577 global sales in 2020, according to the most recent vehicle registration data from IHS Markit*. That sales total represents 15.1% of the sports coupe market, up from 14.8% a year earlier.
“Mustang enthusiasts love their performance cars, and they showed that yet again,” said Hau Thai-Tang, chief product platform and operations officer, Ford Motor Company. “In a challenging year for the entire auto industry because of the global pandemic, Mustang performed very well, increasing its share in the global sports car segment.” Continue reading
Say it ain’t so Joe! The United States is thus far backing the head of the UN’s International Atomic Energy Agency who claimed as one of the mouthpieces of the Nuclear industry that it would see that the dumping of Fukushima Nuclear Disaster Waste Water into the Pacific ocean wouldn’t hurt human health and the environment. IAEA Director General Rafael Mariano Grossi said that Japan’s solution was both “technically feasible and in line with international practice.”
This, laughable promise in the eyes of many critics – including China, South Korea and US client state Taiwan – who decried Japan’s announcement today that it would conduct allegedly controlled releases of potentially cancer-causing ionized water that are expected to last for three decades into the Pacific ocean The whole ongoing life-threatening Fukushima Nuclear Disaster was caused, of course, by Tokyo Electric Power Company’s utter inability to monitor, and safely operate the now infamous plant, which melted down. This is not exactly a credible witness for the defense in our view.
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The National Labor Relations Board (NLRB) completed a vote count today in an election involving employees at Amazon’s facility in Bessemer, Alabama. There were approximately 3,041 employees who mailed in ballots indicating whether they want to be represented by the Retail, Wholesale and Department Store Union. In a clear setback for unions, and what critics say are inhuman working conditions, challenges are not sufficient in number to affect the results of the election. More than twice as many employees voted against the union than those who voted for it. The AFL-CIO and GBAO had released earlier this week a nationwide poll of registered voters that found more than three-quarters of Americans support workers’ efforts to organize a union at the Amazon warehouse in Bessemer, Alabama. Continue reading
Honda has expanded a fuel injection system recall from last year to include 628,000 vehicles across 25 model lines because the vehicles can suddenly stall. The estimated date to start notifications to owners is May 18, 2021. Affected vehicles – now all 628,000 – may be equipped with a fuel pump module manufactured with low density impellers from the supplier Denso. If the surface of a lower density impeller is exposed to production solvent drying for longer periods of time, higher levels of surface cracking may occur. Continue reading
US March Light Vehicle sales by segment, courtesy NADA.
March 2021 US light-vehicle sales were stronger after sales fell in February with cars diving more than 20%. March’s SAAR of 17.75 million units was the second highest of all time for the month, following March 2000 two decades ago. Light trucks accounted for 77.7% of all new-vehicle sales in March 2021, up from 74% in March 2020. Lower discounting coupled with consumer preferences for higher-trimmed light-truck models should result in record-high transaction prices for March, according to NADA. (Ugh – US Light Vehicle Sales Drop during February 2021,Whither US Vehicle Sales in 2021? Is 14 Million a Stretch?)
Now, the theories – yet to be proven – and debates begin.
March 2021 sales were likely increased by delayed sales caused by harsh February winter weather. Then there’s the increase from stimulus checks following the passage of the Biden administration’s COVID-19 relief bill, which no Republican voted for. Continue reading
Just bring money – lot’s of money…
GMC’s electric truck line is expanding with the addition of the 2024 Hummer EV SUV. When production begins on the SUV in early 2023, Edition 1 will start at, gulp, $105,595. Range is estimated at 300 miles on a full charge. Equipped with the Extreme Off-Road Pack, the SUV leaps to $110,595, with an estimated range of 280 miles on a full charge.
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GM has not disclosed which plant will build the Hummer SUV – but has scheduled a virtual press conference with President Mark Reuss from Factory Zero in Hamtramck today. (GM’s Factory ZERO – First U.S. Plant to Install 5G)
Perhaps even bigger news is that the Hummer will be sold by GM online, with dealers playing only a supporting role at the introduction. Customers who reserve a vehicle can choose the dealer where they would like the vehicle to be delivered. That dealer will then complete the sale/transaction. It’s clearly part of the strong US retail trend – accelerating from Covid – that consumers are becoming more comfortable and more apt to us computers and phones to buy goods and services. Ultimately, we think traditional dealers will play a diminishing role. Continue reading
New Toyota GR 86 – Red Prototype, and Subaru BRZ. Click to Enlarge.
Toyota Gazoo Racing showed the new GR 86 its world debut during an online event held together with Subaru Corporation earlier today in Japan. Following the GR Supra and GR Yaris, the new GR 86 is the third global model in the GR series of sports cars.
The new GR 86 is scheduled to launch in Japan in autumn 2021. It’s plans for US sales are still unknown. But given the abandonment of Scion as a the fun Toyota youth brand, it’s almost a sure thing. (Toyota Pulls Plug on Scion Brand, Scion FR-S Morphs into Toyota 86)
Subaru is out front here. Subaru showed its US version of the 2022 BRZ last November. It will be the lightest rear-wheel drive 2+2 sports car in U.S. market when it enters production. The 2+2 seating and folding rear seats have a cargo area with space for carrying a mountain bike, golf clubs, or four race tires and tools for track days. Using aluminum for the roof, front fenders and hood, the 2022 Subaru BRZ has an estimated curb weight of just under 2,900 lbs. Prices for street versions will be in the $32,000-$36,000 range, AI guesstimates. Continue reading
Ford Motor Company is issuing a safety compliance recall related to the rearview camera on 2020-21 Lincoln Aviator vehicles. The image processing module may be intermittently unable to provide a video feed to the display screen. This could result in a loss of the rearview camera image when the vehicle is in reverse. Affected rearview cameras do not comply with Federal Motor Vehicle Safety Standards and require corrective. Continue reading
Commerce Adds Seven Chinese Super-computing Entities to List Restricting Export or Transfer of Technologies Contrary to National Security or US Foreign Policy Interests
Advanced nuclear weapons are at the core of the issue here.
The Department of Commerce’s Bureau of Industry and Security (BIS) today has added seven Chinese super-computing entities to the so-called Entity List for conducting activities that are contrary to the national security or foreign policy interests of the United States.
US automakers have transferred significant amounts of technology and intellectual capital as the price of access to the world’s largest auto market, but thus far the industry has escaped sanctions, albeit with some mild criticism over the loss of jobs.
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