First Look – Canoo EV Pickup Truck

Ken Zino of AutoInformed.com on Canoo

“The most cab-forward and space efficient” on the market?

Canoo Inc. (Nasdaq: GOEV), a firm developing purpose-built electric vehicles (EVs), showed its fully-electric pickup truck during the Motor Press Guild’s Virtual Media Day (VMD) in partnership with Automobility LA late last week. The production version of the pickup truck will receive pre-orders in Q2 2021, with deliveries beginning as early as 2023. With more than 350 employees from technology and automotive companies, Canoo says it has designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle types and applications for consumers and businesses. The pickup truck is the third vehicle that will be based on the company’s proprietary multi-purpose platform architecture.

The larger story, perhaps, is the company, not the vehicle. Canoo is a Los Angeles-based company that has, arguably, pioneering technologies. Its business model drops traditional ownership and is a glimpse at the future of automobility that other companies are also pursuing. Canoo will not have a physical sales network. The company will offer its product directly to customers via subscription, not ownership. Continue reading

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FAA Wants $14,500 Fine Against Drunken Passenger for Causing an Emergency Landing at JFK Airport

In a drunken flying incident, the U.S. Department of Transportation’s Federal Aviation Administration wants a $14,500 civil penalty against an airline passenger for allegedly interfering with flight attendants who instructed him to wear a face mask and stop consuming alcohol he had brought on board the aircraft. The incident occurred late last year on a jetBlue Airlines flight from John F. Kennedy International Airport (JFK) in New York to the Dominican Republic. The FAA says the passenger “crowded the traveler sitting next to him, spoke loudly, and refused to wear his face mask.”  (Trump Legacy – FAA Adopts Stricter Unruly Passenger Policy)

A flight attendant warned the man that jetBlue’s policies required him to wear a face mask, and twice warned him that FAA regulations prohibit passengers from drinking alcohol they bring on board an aircraft. Despite these warnings, the passenger continued to remove his face mask and drink his own alcohol, the FAA alleges. Continue reading

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Ford Motor Recalls Millions More Takata Airbags after NHTSA Denies Petition. Separately, Continental Tires Also Recalled

Ken Zino of AutoInformed.com on Ford Takata Safety Defect Recalls

Shrapnel is on the left side of this screen capture from NHTSA Takata testing. Click to Enlarge.

Late today, Ford Motor Company announced that it will proceed with safety recall for multiple vehicles with certain Takata driver-side front airbag inflators after NHTSA denied its petition of repeal earlier this year. In another unrelated safety defect recall, Ford is recalling Continental tires.

In the affected Takata vehicles, the driver-side front airbag inflators were installed as original equipment and contain a calcium sulfate desiccant, which differed in design from the earlier recalled Takata airbag inflators that spewed shrapnel into a vehicle’s interior. Continue reading

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GM Needs Range, Battery Cost Cuts to Speed EV Plans

Ken Zino of AutoInformed.com on joint development agreement between GM and lithium metal battery firm SolidEnergy Systems

GM’s next-generation lithium metal batteries could enable higher range in a similarly sized pack or comparable range in a smaller pack.

General Motors President Mark Reuss announced a joint development agreement with lithium metal battery firm SolidEnergy Systems (sic) or SES. To accelerate Li-Metal battery commercialization, GM is working with several companies and making investments that will allow it to scale up to production quickly. GM’s lithium metal battery with a protected anode will have a combination of affordability, high performance and energy density, it’s claimed. The initial prototype batteries have completed 150,000 simulated test miles at research and development labs at GM’s Global Technical Center in Warren, Michigan. This GM claims demonstrates real-world potential.

“Affordability and range are two major barriers to mass EV adoption,” said Reuss. “With this next-generation Ultium chemistry, we believe we’re on the cusp of a once-in-a-generation improvement in energy density and cost. There’s even more room to improve in both categories, and we intend to innovate faster than any other company in this space.”  Reuss was speaking one year after the reveal of the first-generation Ultium Platform. Continue reading

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2020 Dealer Service Visits Drop 6%. EV Owners Dissatisfied

During the pandemic lock-downs during 2020 many vehicle owners drove fewer miles and thereby extended service intervals. Nonetheless, dealer service visits are only down 6% from 2019 and overall satisfaction increased to 847 (on a 1,000-point scale) from 837 a year ago, according to the J.D. Power 2021 Customer Service Index (CSI) Study  released today. Overall satisfaction also increased for a sixth consecutive year. However, EV owners are dissatisfied with service. Their overall service satisfaction is 69 points lower than the average customer and 76 points lower for service quality. Hmn. Continue reading

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Volkswagen Will Hasten Its Transition to a Mobility Company

Ken Zino of AutoInformed.com on the latest Volkswagen business plan - Accelerate

An auto company that plans to compete with, well, all other transitioning automakers to mobility companies. Click to Enlarge.

Volkswagen says it has now earmarked around €16 billion for investment in the future trends of e-mobility, hybridization and digitalization in a strategy that goes up to 2025. To be able to finance the sizable future investments required, it gave a presentation last week using a lot of EV hype. This was clearly designed to assure the financial markets. VW said it will systematically work on increasing its efficiency with ACCELERATE – its latest reorganization.* The targeted operating margin of at least 6% is expected to be achieved by 2023 and will be secured long term. Time and financial results will tell.

VW says it is becoming more resilient to fluctuations in the market that have pummeled it for the past couple of years. To achieve this, Volkswagen is seeking to trim its fixed costs by 5% before 2023, increase factory productivity by 5% per year, optimize material costs by 7% and bring all regions into the black in the long term. In South America and the United States, Volkswagen is trying to break even in the current fiscal year. The company says it can now post a profit in North America with a decrease in sales volumes of around 15% and in South America with sales volumes down by as much as 30%.

Its latest strategy says that ‘by turning the vehicle into a software-based product, Volkswagen is setting the scene for new, data-based business models aimed at lowering entry barriers to individual mobility while offering very attractive service packages for the customers. Volkswagen thus aims to generate additional revenue over the service life of the vehicle through charging and energy services, through software-based functions that customers can reserve as needed, or through automated driving.” Continue reading

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Cash Crunch? BMW and Daimler to Sell PARK NOW Joint Venture to EasyPark Group

Ken Zino of AutoInformed.com on BMW and Daimler Mobility to sell PARK NOW to EasyPark

Cash needed at Daimler and BMW? Two German companies their own interests? Inability to fit and manage the joint venture under future plans? Take your pick or picks. The timing seems odd.

BMW Group and Daimler Mobility AG have agreed to sell their joint venture PARK NOW Group to EasyPark Group, subject to the usual regulatory and antitrust approvals. PARK NOW is the digital  “find a parking spot” of the German carmakers’ YOUR NOW Joint Ventures  – along with services for car sharing (SHARE NOW), ride hailing and trip planning (FREE NOW/REACH NOW), as well as charging (CHARGE NOW) in Europe and North and South America. PARK NOW operates under the brands RingGo, PARK NOW, Park-line and Parkmobile in 11 countries.

PARK NOW Group offers a digital services related to parking − both in car parks and on-street in more than 1,100 cities. Customers can reserve, book and pay for parking spaces online in advance via the app. The parties have agreed not to disclose the terms of the transaction. The timing is questionable given the headlong auto industry rush to survive and then thrive in the transformation to mobility companies. Continue reading

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Winter Storms Clobber Texas Small Businesses Unduly

Ken Zino of AutoInformed.com on Winter Storms Clobber Texas Small Businesses Disproportionately because of State Government Inactions

The failure of an ideology that doesn’t govern for the people?

The latest data from the US Census Bureau Pulse survey* show that Texas small businesses were disproportionately hurt by the winter storms of February. The first wave of data from Phase 4 of the Small Business Pulse Survey arrived on February 25th – clearly showing the significant impact recent winter storms had on Texas.

There were, however, no questions about their impact on Cancun Ted Cruz’s taxpayer-funded vacation that was widely documented in the media. Consider that while  Pulse was designed to measure changing business conditions during the coronavirus pandemic, the SBPS also captures the impact of natural disasters on small business. The picture above documents the damage Texas Governments did to their own small businesses by letting big oil have its cheaper non-regulated way. Consider Houston – roughly 4,000 energy companies, are based there. A dozen of those companies are in the Fortune 500. Carbon fuel firms are like dinosaurs – doomed. The future is green energy supported by a national strategy and a national grid. Millions of jobs are at stake. Continue reading

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FAA Linking with Choctaw Nation to Study Low Altitude Cargo Delivery by Unmanned Aircraft Systems

Ken Zino of AutoInformed.com on the Choctaw Nation to study with the FAA Unmanned Aircraft Systems Cargo Transport

Choctaw Nation was the first tribal government seen  by the FAA as a Public Aircraft Operator.

The FAA’s Mike Monroney Aeronautical Center signed a three-year Memorandum of Understanding with the Choctaw Nation of Oklahoma today. It is partnering with the Choctaw Nation to study how Unmanned Aircraft Systems (UAS) can best transport cargo, including parcels, at lower altitudes. This allows the Monroney Aeronautical Center to work with the Choctaw Nation to study human factors, supply chain management and air traffic control.

The parties will use virtual simulated urban environments for research. Another aim of the MOU is to promote interest in science, technology, engineering and mathematics programs for students seeking possible careers in aerospace. Continue reading

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2022 Ford Super Duty Pickup Gets 12-Inch Screen

Ken Zino of AutoInformed.com on 2022 F-Series Super Duty pickup

Catching up with Ram in the screen wars…

Ford Truck is adding an optional 12-inch touch screen plus cloud-connected SYNC 4 with wireless Apple CarPlay and Android Auto and navigation to a mildly tweaked 2022 F-Series Super Duty pickup scheduled to be on sale this summer. New colors are available inside and out.

Carrying over, so to speak, are what Ford claims is the highest available payload, and maximum conventional and fifth-wheel towing. AutoInformed guesstimates the price range won’t be best in the value class at, oh,  $35,000 to $60,000. Continue reading

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Ford Motor Recalls All 2021 Mustang Mach-E Crossovers

Ken Zino of AutoInformed.com on the first 2021 Mustang Mach-E Safety Recall

All the Mustang EVs are in the US or Canada.

Ford Motor Company is issuing a safety recall for all 2021 Mustang Mach-E vehicles. Ford said it discovered some vehicles may have sub-frame bolts that an unnamed supplier (Martinrea Honsel in Mexico) did not tighten to specification. Ford also said in a late Friday afternoon release – days before required NHTSA safety recall documents are publicly available, including info on how the defect was determined – that “it is not aware of any accidents or injuries related to this condition.” Condition is pr babble for safety defect. Continue reading

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Stellantis Reports Legacy FCA, PSA 2020 Financial Results

Ken Zino of AutoInformed.com on Stellantis Legacy FCA and PSA 2020 Financial Results

Click to Enlarge.

The creation of Stellantis N.V. by merging Fiat Chrysler and Peugeot occurred in January and created the world’s fourth largest automaker.  It has posted financial results of the legacy operations – FCA and PSA – for the year ended December 31, 2020. Group revenue amounted to €60,734 million in 2020, down by -18.7% compared to 2019. Automotive revenue amounted to €47,613 million down by -19.2% versus 2019, mainly from the negative impact of volumes and country mix (-23.9%), the impact of exchange rates (-1.8%) and the decrease of sales to partners (-0.3%); conversely, revenues benefited from the positive effect of product mix (+4.2%) and price (+0.9%), as well as others (+1.7%).

Nonetheless, what is now Stellantis was profitable in 2020 despite COVID-19 with 7.1% Automotive adjusted operating margin at €3.4 billion. Its 9.4% H2 Automotive adjusted operating margin was a record. The net result of group share was €2.2 billion with €2.7 billion Automotive free cash flow and a €13.2 billion Automotive net financial position. Continue reading

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SEC Starts Task Force on Climate Change Investment Risks

Ken Zino of AutoInformed.com on SEC and climate change financial risks

The tip of the regulatory iceberg?

The Securities and Exchange Commission today announced the creation of a Climate and ESG* Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s headquarters, regional offices, and Enforcement specialized units. The Climate and ESG Task Force will develop initiatives to proactively identify ESG-related misconduct. The task force will also coordinate the effective use of Division resources, including through the use of sophisticated data analysis to mine and assess information across registrants, to identify potential violations.

What this means, in short, is that things are getting tougher for companies that are part of the global warming crisis or want to profit from investors who wish to support firms that are run on an environmentally friendly basis.  Environmental, social, and governance (ESG) criteria are an “increasingly popular way for investors to evaluate companies in which they might want to invest,” said the SEC. Continue reading

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Volvo Cars Posts a +29% Global Sales Increase in 2021

Ken Zino of AutoInformed.com on Volvo Cars 29% Sales increase YTD 2021

In February 2021, the Volvo XC40 was the top-selling model, with sales of 15,818 cars (2020: 10,266), followed by XC60 at 14,463 cars (9,774) and XC90 at 6,808 cars (4,852).

Volvo Cars had good global sales in February, after the Chinese company posted 29.1% growth for the first two months of the year compared with the same period last year. Total sales amounted to 110,383 cars, as the US, Europe and China reported increases. The main factor was an ongoing recovery from the Covid-19 pandemic in China compared to last year, a solid performance in the US and increased sales in Sweden, said Volvo.

In China, Volvo Cars sold 29,243 cars in the first two months of the year, up 160.6% year-on-year, as the company managed to more than recover lost sales due to Covid-19 shutdowns last year. For the month of February, Volvo Cars sold a total of 50,795 cars, up 27.8% compared with the same month last year, and the company’s best February sales performance ever. Continue reading

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Ugh – US Light Vehicle Sales Drop during February 2021

Ken Zino of AutoInformed.com on US Light Vehicle Sales Drop during February 2021

LMC’s outlook for US Light Vehicle sales in 2021 has been upgraded again, to 16.0 million units, an increase of 11% from 2020. Retail sales are projected to grow by 9% and fleet by more than 20% from 2020. Click to Enlarge.

Blame the weather since US light vehicle sales dropped to 1.18 million in February, according LMC Automotive, an automotive global forecasting consultancy. The -3% Year-over-Y decline in LMC’s view was caused by two fewer selling days this year, as well as abnormally cold weather and winter storms across many key markets. Any way you look at it, the selling-day adjusted sales volume was still down by -5.5% YoY. The annualized rate dropped to 15.7 million units, down from 16.6 mn units in January.

Compact and mid-size SUVs performed better than large pickups. They were the two most popular segments, which appears the long-term trend with mid-size SUVs gaining 0.9 percentage points of share from February 2020. Only Compact Premium SUVs grew more, up by 1.2 pp, likely from new product launches. Not surprisingly, mid-size Cars lost 2.5 pp of share from a year ago, more than any other segment. Here LMC hedges, “although consumers have been moving away from cars, lower fleet volume also hurt the segment significantly. While six segments sold more than 100,000 units last February, only four reached the threshold this year – Compact SUV, Mid-size SUV, Large Pickup and Small SUV. Combined, they accounted for 57% of total sales.” Continue reading

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