Failed Pre-Collision – Ford Recalls Expedition, Navigator

Posted on 18 May 2020 by Ken Zino

Ford Motor Company is recalling more than 25,000 Expedition and Navigator models because the camera-only Pre-Collision Assist does not enable itself. Because of incorrect computer coding of interfacing modules, the Pre-Collision Assist feature is not enabled, and the driver cannot access the menu functions necessary to enable the Pre-Collision Assist feature. Obviously, this is a safety defect because if the driver is unaware that the Pre-Collision Assist system is not enabled, they may rely on a system that is not functional, increasing the risk of a crash or injury.
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Limit Vehicle Disease with Bacteria, Virus Resisting Materials

Posted on 15 May 2020 by Ken Zino

The COVID-19 plague has prompted a renewed look at the health risks in the shared mobility world. The interior of light-duty vehicles can easily allow for cross-contamination. The interior often includes multiple occupants in an enclosed space for extended periods, numerous frequent touch-points in that environment, and limited decontamination of the microbes.  This could result in a renewed interest in car ownership where the driver can control the environment. Mass transit could become unattractive, restricted or like the New York City Subway cleaning program that just started, unavailable at night

Shashank Modi a Research Engineer at the Center for Automotive Research in Michigan notes that drivers of Uber, Lyft, and other ride-hailing services are concerned about their own health and that of their passengers. Company guidelines recommend ride-hailing drivers to wear masks and disinfect their cars regularly. “But are these safety measures sustainable in the long run? Is there a better way to instill confidence in shared mobility?” asks Modi.
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Finally, Census Bureau Survey on Businesses

Posted on 14 May 2020 by Ken Zino
AutoInformed on COVID-19 Depression

A slow, fumbling start to address COVID means a slow, fumbling recovery.

The first results from the new U.S. Census Bureau Small Business Pulse Survey (https://www.census.gov/data/experimental-data-products/small-business-pulse-survey.html) released today show a large negative effect from COVID-19 for the majority (51.4%) of respondents; and an expectation that it will take more than six months for their businesses to return to normal.

The survey, conducted by email, is intended to provide weekly data on the impact of the COVID-19 plague on the nation’s businesses. Results are displayed as data visualizations. The Census Bureau defines small businesses as single business locations with one to 499 employees and at least $1,000 in annual revenue.
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Chevrolet, Buick, GMC and Cadillac Expand Customer Care Marketing Initiatives With the ‘CLEAN’ Program

Posted on 14 May 2020 by Ken Zino

AutoInformed.com on GM CLEAN ProgramGeneral Motors today announced an initiative inviting U.S. dealers to participate in a program using the Centers for Disease Control and Prevention guidelines in the operations of their businesses. Why dealers have not done so already is a mystery to AutoInformed now that even the Republican White House is infested with COVID-19.

Dealers who enroll in the so-called CLEAN program have agreed to follow CDC guidelines and to use Environmental Protection Agency-approved cleansers in connection with the cleaning of their facilities, including high-traffic areas, and the cleaning of new, used and serviced customer vehicles. Dealers who enroll in the program have committed to following the CDC guidelines and practices upon enrollment. They should not inject or drink bleach of course. Continue reading →

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MotorCities At Home – a Zoom Look at Hood Ornaments

Posted on 14 May 2020 by AutoCrat
AutoInformed.com on MotorCities At Home - Zoom Look at Hood Ornaments

Click to Enlarge.

Since we are all still staying at home to prevent the spread of COVID-19, MotorCities is presenting a new series of virtual programs featuring members of our Speakers Bureau discussing interesting automotive history topics. Each program is FREE and presented as a live Zoom conference.

The series kicks off this Friday at noon with “Mascots of Motion” with automotive journalist Steve Purdy. His presentation has classic and collector car hood ornaments. Purdy says, the slide xanax show accompanying the talk is a colorful exploration of about 50 of these images, from a Rolls-Royce “Spirit of Ecstasy” to a Stutz “Ra.”
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Half of Pandemic Layoffs Will Result in Permanent Job Loss

Posted on 14 May 2020 by Ken Zino
AutoInformed,com on Permanent Pandemic Job Losses

Even if the crisis is resolved quickly, many pandemic-induced shifts in consumer demand and business will linger. Therefore, they conclude that the reallocation of labor is likely to persist and estimate that 42% of recent pandemic-induced layoffs will result in permanent job loss.

The Hutchins Institute says that with large parts of the economy shut down, some firms are expanding in response to pandemic-induced demand shifts. Jose Maria Barrero from the Autonomous Technological Institute of Mexico, Steven J. Davis from the University of Chicago, and Nicholas Bloom from Stanford find that the COVID-19 shock caused three new hires in the near term for every 10 layoffs. Continue reading →

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Einride and Oatly to Electrify Transport in Sweden

Posted on 14 May 2020 by Ken Zino
AutoInformed.com on Einride and Oatly to Electrify Transport in Sweden

With electric trucks, Einride will support the transport of Oatly’s finished oat-based products.

Einride, a Swedish technology company that designs and develops technology for freight mobility, says it will be partnering with Oatly, the original oat drink company, to transition to all-electric vehicles in the Swedish market. The partnership will commence in Q4 of 2020 in Sweden, making Oatly one of the world’s first companies to electrify transportation on commercial routes.

“Road freight transport as it currently exists is a system that drastically needs to change. Nearly 7% of global CO2 emissions come from this road freight, a figure that will only increase if we do not switch to more sustainable,” says Robert Falck, CEO and Founder of Einride.
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VW: Three-Month Warranty Extension On New, Used Vehicles

Posted on 13 May 2020 by Ken Zino

Volkswagen is providing a three-month warranty extension on its New Vehicle Limited Warranty as well as its Certified pre-owned Limited Warranty set to expire in March through the end of May 2020. The extension is automatic and requires no action by the owner. If the New Vehicle Limited Warranty or Certified pre-owned Limited Warranty expire due to mileage rather than time, no extension will be provided.

Volkswagen and Volkswagen Credit (VCI) also announced an extension  of customer payment relief options put in place because of the ongoing COVID-19 pandemic. Audi is also providing a three-month warranty extension on its New Vehicle Limited Warranty as well as its Certified pre-owned Limited Warranty. Audi continues to offer payment relief for customers impacted by COVID-19 through June 1. Continue reading →

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COVID Journal – Our Correspondents on Politics, Policy and Insights in these Medieval Times of a 21st Century Plague

Posted on 12 May 2020 by Ken Zino

Letter from Detroit – Vietnam All over Again with a Higher Body Count

Steve W homemade gym.

Dear Steve: Upon much shelter in place reflection, CORONA is really a simple problem to grasp. I note with irony here that a lot of my core personality traits have been shaped by similar events.

1: Sputnik which sent me and my ilk – virtually forced – into studying more of the sciences and the scientific method as the U.S panicked by realizing that the so-called Ike and Mami good years (Eisenhower) fifties prosperity had neglected the ability to fight the enemy and that prosperity could evaporate overnight. Sound familiar?

2: Vietnam and Nixon – when I was student deferred as a relatively prosperous white male, which kept me alive until the war ground down. During that time, it became apparent that the presidency and national leadership were lying to save their own political posteriors. Sound familiar? Continue reading →

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Penske Automotive Q1 2020 Results -46% at $0.64 per share

Posted on 10 May 2020 by Ken Zino

AutoInformed.com on Trump's Job-destroying Covid Inaction.Penske Automotive Group, Inc. (NYSE: PAG), said for the three months ended March 31, 2020, the company reported income from continuing operations attributable to common shareholders of $51.6 million, or $0.64 per share, compared to $100.1 million, or $1.19 per share in the prior year. Foreign exchange rates  as well as the Corona virus negatively impacted earnings per share by $0.01. Revenue was $5.0 billion compared to $5.6 billion in the same period last year.

In the U.S., through February same-store new and used automotive retail unit sales increased 7.5% and declined 1.1% internationally. In March, the outbreak of COVID-19 began to impact Penske in all markets. Many U.S. and Germany dealerships were impacted by shelter-in-place orders while operations in Italy, Spain and the U.K. were closed. As a result, same-store new and used automotive retail unit sales for the month of March declined -40.2%. Continue reading →

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More than 20 Million Jobs Lost in April as ~15% Unemployed

Posted on 9 May 2020 by Ken Zino

Total non-farm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7%, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect the effects of the coronavirus (COVID-19) pandemic and the Trump Administration’s lack of efforts to contain it – since it was going to go away in April. Wrong. It shut the country down. And the grim news is based on data from only the first two weeks of April. The worst is yet to come.

AutoInformed.com on the Trump Great Depression V2.0

The worst is yet to come because of lack of testing and the absence of a National COVID elimination strategy from the anti-science Trump Administration.

Employment fell sharply in all major industry sectors. There were particularly heavy job losses in leisure and hospitality where the spread was initially ignored as Washington slept – until people, now former customers stopped traveling or died. This was out of self-preservation as the corpses mounted in non-living color on the news and in statistical counts no matter what Trump and Pence said. It was also the result of some Democratically-controlled states where shelter in place was imposed out of concern for the health of residents and not for the health of the increasingly infected Trump reelection campaign.
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Ford to Begin Phased Restart in North America 18 May

Posted on 8 May 2020 by Ken Zino
AutoInformed.com on Ford Return to Workplace - May 2020

Fumbling Ford management finally voiced clear direction for the moment. Click to Enlarge.

Ford is pursuing a phased restart for its North America operations beginning 18 May 18. This includes restarting vehicle production in North America and bringing back the first wave of employees that are not able to do their jobs remotely. The ramp-up will be gradual. Employees able to work remotely will continue to do so until advised. (Ford Motor Posts -$2 Billion Q1 Loss)

While Ford shut down its plants around the globe in March, cash use has remained high because production supplier payables are about 45 days. The company’s cash outflow – it is claimed – will be substantially lower after early May as Ford pays down those payables. (UAW Pressure: Ford Further Postpones NA Production Restart, Ford Motor Maxes Out Lines of Credit) Continue reading →

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General Motors to Offer More Senior Unsecured Notes

Posted on 7 May 2020 by Ken Zino
AutoInformed.com on GM

GM ended Q1 with $33.4 billion in automotive liquidity. It wants more for GD V2.0.

In the latest defensive move as the COVID-19 Pandemic is leading global economies into  Great Depression V2.0**, General Motors (NYSE: GM) announced today it has launched an offering of senior unsecured fixed rate notes. GM intends to use the net proceeds from the sale of the notes for general corporate purposes. Translation: the cash will be needed as profits continue to drop. (COVID Effects: GM Q1 Earnings Drop -89% to $0.17 a Share)

“We expect the New 364-Day Revolving Facility to be unsecured and to provide available borrowing capacity of approximately $2 billion in U.S. Dollars only, and we have received commitments from lenders in excess of this amount. We expect the New 364-Day Revolving Facility will be generally consistent with the terms of our existing revolving credit facilities,” GM said.

Late today GM subsequently said: the pricing of three series of senior unsecured notes totallledof $4.0 billion. These notes include $1.0 billion of 5.40 percent notes due in 2023, $2.0 billion of 6.125 percent notes due in 2025 and $1.0 billion of 6.80 percent notes due in 2027. The offering is expected to settle on Tuesday, May 12, 2020. In addition, following the closing of the notes offering, GM expects to enter into a new 364-Day Revolving Credit Agreement, subject to certain closing conditions. We expect the New 364-Day Revolving Facility to be unsecured and to provide available borrowing capacity of approximately 2 billion in U.S. dollars, and we have received commitments from lenders in excess of this amount. Continue reading →

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How To Disinfect a Vehicle Without Damaging Its Interior

Posted on 7 May 2020 by Ken Zino
AutoInformed.com on How To Disinfect a Vehicle Without Damaging Its Interior

Click to Enlarge.

Nissan is offering advice on how to disinfect your vehicle as some in the US try to stop the spread of COVID-19 honoring Shelter at home requests. Frequent hand washing as directed by The Centers for Disease Control and Prevention (CDC) is a crucial part of staying healthy, but so is disinfecting surfaces, including those in your car.

“Most people are still using their vehicles, whether they are essential employees commuting to work or someone running to the grocery store while in quarantine,” said Ryan Fulkerson, director, New Model Engineering, Nissan North America. “We want to make sure they’re informed on how to best keep their vehicle disinfected.”

The CDC recommends wearing disposable gloves for cleaning and then disinfecting surfaces. If a surface appears dirty, it should be wiped down with soap and water prior to disinfection. For vehicle interiors, a soft or microfiber cloth dampened with soap and water can be used to wipe down hard surfaces. Continue reading →

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COVID! GM Q1 Earnings Drop -89% to $0.17 a Share

Posted on 6 May 2020 by Ken Zino
AutoInformed.com on GM Q1 2020

It’s going to be a long year of going backwards.

General Motors today posted EPS-diluted of $0.17 and EPS-diluted-adjusted of $0.62. The COVID-19 impact on EBIT-adjusted was $(1.4) billion. GM ended quarter with $33.4 billion in automotive liquidity as the global economy headed toward a depression. In March GM suspended production and cancelled earnings projections for the entire year.

First Quarter 2020 results

  • EPS-diluted of $0.17 and EPS-diluted-adjusted of $0.62
  • EPS diluted-adjusted includes a $(0.28) impact from Lyft and PSA revaluations
  • Income of $0.3 billion, and EBIT-adj. of $1.2 billion, which includes a $(1.4) billion COVID-19 impact
  • Revenue of $32.7 billion
  • GM North America EBIT-adjusted of $2.2 billion
  • GM Financial EBT-adjusted of $0.2 billion

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