FCA Q2 Earnings – Net profit at €0.8B. Trouble Ahead?

Posted on 14 August 2019 by Ken Zino
AutoInformed.com on FCA Q2 2019 Net Profit

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FCA Q2 2019 results continue the weakening trend at the Detroit Three and partially confirming fears of an imminent recession. FCA posted net profit from continuing operations at €0.8 billion. Worldwide combined shipments of 1,157,000 were down -11%. This made for an adjusted net profit of €0.9 billion, and a weak Adjusted EBIT of €1.5 billion, margin at 5.7%, with “significant reductions in dealer stock.”

With the first financial results since an attempt to merge with France’s Renault, FCA said its adjusted earnings before interest and tax (EBIT) would top last year’s 6.7 billion euros ($7.5 billion). It also said it continues the quest for partners. Previously it promised to deliver 2020 adjusted earnings before interest and tax (EBIT), excluding the Magneti Marelli unit it sold,  of €9.2-10.4 billion. Continue reading →

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MINI celebrates 60 years at the 2019 Monterey Car Week

Posted on 13 August 2019 by Ken Zino
AutoInformed.com on MINI John Cooper Works GP Prototype

In 1961, the Mini fell into the hands of British racer John Cooper, who added a more powerful engine, bigger brakes, and tuning tweaks to create the Mini Cooper 997.

At the Monterey Car Week and the Pebble Beach Concours d’Elegance, the MINI brand celebrates its 60th Anniversary with a preview of both the MINI Cooper SE battery electric along with the John Cooper Works GP. MINI is an independent brand of the BMW Group.

In addition MINI will showcase its past with a grouping of historic models that include; a US spec 1965 MINI Morris Cooper S in full rally livery, two special edition classic Minis from 2000 that represent the last production run of the classic bodied Mini introduced in 1959, the first generation MINI John Cooper Works from 2006, and a 2009 MINI E, the brand’s first generation EV.  Continue reading →

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Eaton Links with KPIT on Electrified Mobility Technologies

Posted on 13 August 2019 by AutoCrat

Eaton said today it has chosen global technology company KPIT to support the development of electrified mobility technologies for its eMobility business unit. No terms were disclosed. The eMobility business wants to capitalize on a global vehicle electrification market optimistically projected to grow to 15 million pure battery-electric vehicles by 2030. Continue reading →

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Ford Motor Q2 – Sales, Share, Net Income, EPS All down

Posted on 12 August 2019 by Ken Zino

Ford Motor Company’s second quarter financial results were weak as the company continues to bring to market a fresh lineup of products that are supposed to build on its strengths.  This is before a possible but likely looming recession.

Overall, Ford’s reported net income was $148 million, net income margin was 0.4%, and earnings per share (EPS) was $0.04, all were down as a result of the latest ongoing global redesign and restructuring activities, primarily in Europe and South America. Those initiatives accounted for $1.2 billion of charges for special items. The company’s adjusted EBIT of $1.7 billion and adjusted EBIT margin of 4.3% were both flat. Adjusted EPS was $0.28.
 Continue reading →

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Shelby GT350R Now Shares GT500 Chassis Technology

Posted on 12 August 2019 by Ken Zino
AutoInformed.com on 2020 Shelby GT350

The point then as now was to move metal via sales.

Lee Iacocca would have been proud of the latest horsepower race since he was around for the original one. The point then as now was to move metal – lots of metal as in sales. Year-to-date through June Mustang sales are off -7% at 21,625 compared to 23,264 year-over-year. As the latest Mustang performance lineup debuts, the 2020 Mustang Shelby GT350R has minor tweaks via new tech and colors from its GT500 partner in street crimes. This in the absence of law enforcement should make them fun to drive on the street and competitive on the track.

Retail sales of special performance series Mustangs (GT350 and Bullitt) were up 39% in Q2 of this year, leading to an overall retail share gain for Mustang this year and increasing Mustang transaction pricing by $1,200 over a year-ago to $36,300 per car. However, Ford doesn’t break out the sales numbers by variant, but obviously the gain wasn’t nearly enough to offset the decline in the balance of the Mustang business or the failing car business (-23% ytd) Continue reading →

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Michigan Drivers Dominate Drag Racing at Roadkill Nights

Posted on 11 August 2019 by Ken Zino

For the fifth consecutive year, Motor Trend Group’s Roadkill Nights Powered by AutiInformed.com on Roadkill Nights Drag RacingDodge returned to Woodward Avenue in Pontiac, Michigan. The event spanned  two days and with a variety of events from legal drag racing and burnout competitions on Woodward Avenue to drift and thrill rides with professional drivers in the M1 Concourse. Continue reading →

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Lidar for Robotic Apps – Velodyne Puck 32MR

Posted on 11 August 2019 by Ken Zino
AutoInformed.com on Lidar

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Velodyne Lidar* has introduced the Puck 32MR sensor for the autonomous industry. It claims to offer a cost-effective perception device for low speed autonomous markets, including industrial vehicles, robotics, shuttles and unmanned aerial vehicles (UAVs). https://youtu.be/NZKvf1cXe8s

Besides Velodyne’s patented surround-view perception capability, the Puck 32MR has a range of 120 meters and a 40-degree vertical field of view to enable navigation in unfamiliar and dynamic settings.

Continue reading →

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Mulliner Completely Re-Creates 1939 Bentley Corniche

Posted on 9 August 2019 by Ken Zino
AutoInformed.com on Bentley Corniche recreation.

The Corniche will make its first public appearance at Salon Privé at Blenheim Palace.

Bentley has re-created a car from its past that it says is a crucial link in the history of its most important models. The rebuild of the only 1939 Corniche ever made underscores the marque’s design and technological innovation, the breadth of skills within cialis online canada Mulliner’s customizing division.

The original Corniche was lost in France in 1939 at the outbreak of World War II. It was extensively damaged in a traffic accident whilst undergoing road tests in France in August 1939. Sent for repairs, the chassis made it home to the Bentley plant in Derby, but the bodywork was destroyed in a bombing raid on Dieppe later in 1939 and was never seen again.

AutoInformed.com on 1939 Bentley Corniche - Mulliner Recreation

Mulsanne panels are still hand-formed, helped with detailed finessing; the paint laboratory spent hours making samples of body colors Imperial Maroon and Heather Grey from hazy descriptions.

Continue reading →

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Dream Cruise Delights – Power to The People

Posted on 9 August 2019 by Ken Zino

Woodward Avenue – America’s first highway – is about to be invaded or upgraded as 40,000 classic cars appear for the 25th annual Dream Cruise next weekend. Heavily biased toward ‘Merican metal, with a crowd-pleasing emphasis on muscle cars and hot rods, -the street festival was a Mustang celebration last year.

AutoInformed.com on Grabber Lime 2020 Ford Mustang

Grabber Lime 2020 Ford Mustang.

Yeah, we know that platinum plated Pebble Beach is the same weekend – but I believe it was Jay Leno who said the Pebble is a place where ordinary millionaires can compete with billionaires. And yes, it’s true the author was once asked to stop jogging on the cart track around the empty course extremely early in the morning one Pebble Beach weekend. Continue reading →

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Daimler Tries Deliveries Directly to Parked Cars in Berlin

Posted on 8 August 2019 by Ken Zino
AutoInformed.com on in-car delivery services

German geek humor? – ‘chark’ stands for change the why you park.

Today, chark (sic), a Daimler pilot project of the delivery service also starts in Berlin. Drivers of Mercedes-Benz passenger cars and the V-Class of model year 2015 and newer – can use the Mercedes me connect service to have parcels or purchases delivered directly to their parked vehicle in the German capital. Chark stands for change the why you park. It makes no difference whether the car is privately owned, leased or a company car. Orders can be placed with any online shop worldwide.

The customers were satisfied with the in-car delivery service during the pilot in Stuttgart. They positively highlighted the personal convenience, the greater ease in daily life as well as the speed of the delivery. All in all, more than 1000 parcels were delivered in the greater Stuttgart area to date. Continue reading →

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NHTSA on Tesla Again for Bogus Safety Claims

Posted on 8 August 2019 by Ken Zino
AutoInformed.com on Tesla Autopilot safety claims

… “dangerously misleading and deceptive practices and representations of Tesla Motors, Inc. regarding the safety and capabilities of its Autopilot” …

The U.S. National Highway Traffic Safety Administration sent Tesla’s Elon Musk a cease-and-desist letter last year regarding Model 3 safety claims and has subpoenaed the carmaker for information on several crashes, according to documents posted by a non-profit advocacy group. The legal transparency and pressure group Plainsite revealed that NHTSA said the claims were inconsistent with its advertising guidelines regarding crash ratings and that it would ask the Federal Trade Commission to investigate whether the statements were unfair or deceptive acts.

The latest stock market manipulation came as the SEC remains silent in the curious case of the watchdog that didn’t bark. Any major automaker executive making such claims would be prosecuted and possibly jailed. Continue reading →

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Ten-Month US Budget Deficit Now at $867 billion. $Trillion Deficits Now Certain Under Current Economic Policies

Posted on 8 August 2019 by Ken Zino
AutoInformed.com on Deficits and criminal investigations keep growing under President Trump.

Deficits and criminal investigations keep growing under President Trump.

The federal budget deficit was $867 billion for the first 10 months of fiscal year 2019, the Congressional Budget Office estimates. This, gulp,is $184 billion more than the deficit recorded during the same period last year. Revenues were $92 billion higher, and outlays were $276 billion higher than in the same period in fiscal year 2018. So much for Republican lip service that claimed deficits were bad. The annual interest payments on the debt are now $479 billion.

However, outlays in the first 10 months of last year were reduced by shifts in the timing of certain payments. If not for those shifts, the deficit for that period would have been $44 billion greater, and the increase in the deficit so far this year would have been $140 billion rather than $184 billion. Continue reading →

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30 Senators Asking Automakers to Join California Fuel-Economy Agreement in Defiance of Trump’s EPA

Posted on 7 August 2019 by Ken Zino
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It will interesting to see if Republicans abandon their “States Rights” posture now that it is inconvenient.

Thirty senators yesterday called on 14 automakers to join the agreement reached last month between California and Ford, BMW, Volkswagen and Honda to maintain strict fuel-efficiency rules. The letters were sent to Aston Martin, Fiat Chrysler, GM, Hyundai, Jaguar, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Porsche, Subaru, Toyota and Volvo.

“In the absence of an agreement between the Federal government and states, the California agreement is a commonsense framework that provides flexibility to the industry to meet tailpipe standards while also taking important steps to reduce greenhouse gas emissions and save money on fuel for consumers,” the senators wrote. Continue reading →

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EVs, Coal Plant Closings Can Cut Carbon Emissions 42%

Posted on 7 August 2019 by Ken Zino

A new report from Community Energy claims that electric vehicles (EVs), combined with accelerated coal plant retirements, can reduce Colorado’s CO2 emissions by 42% by 2040 relative to today’s levels while lowering electric utility rates.

The study says that combined emissions from the transportation and electricity sector are reduced by 61%. It’s just another fact ignored by global warming deniers  and climate change reform opponents that notes that clean air is vital and global warming deadly. Continue reading →

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Porsche SE Posts Strong 2019 Half-Year Results

Posted on 7 August 2019 by Ken Zino
AutoInformed.com on Porsche 6 Month 2019 Financial Results

Based on its current group structure, the Porsche SE Group continues to expect a group result after tax of between €3.4 billion and €4.4 billion for the fiscal year 2019.

Porsche Automobil Holding SE (“Porsche SE”) made €2.38 billion after taxes in the first six months of the fiscal year 2019 compared to €1.90 billion  in the prior-year period. This result was “significantly influenced” by the profit from the investment accounted for at equity in Volkswagen AG of €2.42 billion (prior-year period: € 1.94 billion).

Porsche sales revenue grew +9% to € 13.4 billion compared with the prior-year period. The operating result before special items increased by +3% to € 2.2 billion. Return on sales before special items was 16.5%. Deliveries increased 2% to 133,484 vehicles by June end. The workforce increased by 5% to 33,839 employees in the first half of 2019. Continue reading →

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