C8 Sneak Peak – Corvette Roadster Debuts this Fall

Posted on 30 July 2019 by Ken Zino
AutoInformed.com on Corvette Roadster - Fall 2019 Debut

A supercharged V8 since a V12 won’t fit?

Here comes the C8 Corvette Roadster that debuts this fall. The Stingray’s gasoline engine is Chevy’s next-generation 6.2L Small Block V8 LT2 engine, producing up to 495 horsepower (369 kW) and 470 lb-ft (637 Nm) of torque — the most horsepower and torque for any entry Corvette. Continue reading →

Tweet
Posted in new vehicle, performance | Tagged , , , , | Leave a comment

Penske Automotive Group Q2 Sales Down as Economy Slows

Posted on 30 July 2019 by Ken Zino
AutoInformed.com on Penske Automotive Group

Foreign exchange rates negatively impacted earnings per share attributable to common shareholders by $0.07 as Trump trade and economic policies weakened the US Dollar.

Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company, today announced lower second quarter and six-month 2019 results, and the acquisition of Warner Truck Centers.

Penske – in AutoInformed’s view – is a leading indicator of where the auto market is going in the US and UK. The decline in new auto sales with an increase in used auto sales could indicate that the economy – here and globally – is on the verge of a recession. (US Deficit and Government Spending Grow in Q2)
 Continue reading →

Tweet
Posted in economy, financial results, news analysis | Tagged , , , , , | 1 Comment

Porsche and Volkswagen Recall Unsafe Airbags

Posted on 29 July 2019 by Ken Zino
AutoInformed.com

VW will launch other SUVs where it is struggling from the ongoing Dieselgate scandal.

Porsche Cars North America and Volkswagen Group of America are recalling about 35,000 cars and SUVS because a ZF supplied computer can cause a sudden explosive deployment or air bag deactivation without warning.

Affected are 2016-2017 Porsche 911 and Boxster, 2016 Cayman and Panamera, as well as 2015-2016 VW Tiguan and CC vehicles. Continue reading →

Tweet
Posted in electronics, recalls | Tagged , , , , | Leave a comment

US Deficit and Government Spending Grow in Q2

Posted on 29 July 2019 by Ken Zino
AutoInformed.com on US Econmy

Is this as good as it gets? Ready for another job-destroying recession?

The above Hutchins Center Fiscal Impact Measure (FIM) provides a view of how fiscal policies are expected to affect the economy over the next two years. The latest data show that government spending and tax policies added 0.9 percentage point to growth in inflation-adjusted Gross Domestic Product (GDP) beyond its longer-run potential in the second quarter of 2019. Hutchins expects these policies will continue to support growth through the end of the year.

Federal spending on non-defense programs rose significantly in the quarter and added about 0.5 percentage point to GDP growth, after growing slowly for the past year. Strong spending by state and local governments and federal transfer payments also continue to the pace of GDP growth. Continue reading →

Tweet
Posted in economy, labor issues, news analysis | Tagged , , , , , , | 1 Comment

Magna, BAIC Group and Zhenjiang Government form EV JV

Posted on 25 July 2019 by Ken Zino
AutoInformed on Chinese EVs

American becoming less great again as Chinese pursue air quality goals and the Trump Administration gleefully abandons them.

Magna, BAIC Group and the Zhenjiang government have signed a framework agreement governing an electric vehicle manufacturing joint-venture in Zhenjiang, China. The transaction, pending regulatory approval and other closing conditions, is expected to close in the fourth quarter of 2019. Yes, a state-owned publicly traded car company.

This joint venture, to be controlled by an affiliate of the BAIC Group, represents Magna’s first investment in a complete vehicle manufacturing facility outside Europe. It will combine Magna’s unique complete vehicle engineering and manufacturing expertise and BAIC’s local manufacturing, marketing and distribution footprint to support electric mobility in China. The facility has the capacity of up to 180,000 vehicles per year. (Chinese take 10% stake in Daimler. Unwelcome?) Continue reading →

Tweet
Posted in alternative fuels, electric vehicles, manufacturing, news analysis | Tagged , , , , , , , | Leave a comment

Chevrolet 2020 Silverado Diesel – EPA 33 MPG Estimated

Posted on 25 July 2019 by Ken Zino
AutoInformed.com on Chevrolet Silverado 2020 3L Diesel

On the LT and RST, it is a $3,890 increase compared to a 2.7L Turbo engine.

The 2020 Chevrolet Silverado 1500 with the optional 3-liter Duramax turbo-diesel engine delivers an EPA-estimated 33 mpg highway and 23 city in rear-wheel-drive models. EPA-estimated fuel economy for four-wheel drive models is 29 mpg highway/23 city.

With an SAE-certified 277 horsepower and 460 lb-ft of torque, the Silverado 3-liter Duramax with four-wheel drive can tow up to 9,300 pounds and a max payload of 1,870 pounds. The first deliveries of the Duramax turbo-diesel are expected to begin in the fall. Continue reading →

Tweet
Posted in marketing, new vehicle | Tagged , , , , | Leave a comment

Facebook to Pay $100m for Misleading Investors on Risks from Misuse of User Data Helping Russian Attacks on US Democracy

Posted on 24 July 2019 by Ken Zino

The Securities and Exchange Commission today announced charges against Facebook Inc. for making “misleading disclosures” about the risk of misuse of Facebook user data. Facebook has agreed to pay $100 million to settle the charges. Thus, another enabler of the Soviet assault on the U.S. democracy gets off with a paltry fine and no criminal consequences.

According to the SEC’s complaint, in 2014 and 2015, the now-defunct advertising and data analytics company, Cambridge Analytica, paid an academic researcher, through a company he controlled, to collect and transfer data from Facebook to create personality scores for approximately 30 million Americans.  Continue reading →

Tweet
Posted in fools 'n frauds, litigation, news analysis | Tagged , , , , | 2 Comments

BMW X5 and X3 Hybrids to Start Production in Spartanburg

Posted on 24 July 2019 by Ken Zino
AutoInformed.com on BMW X5 Hybrid

Governments, policy makers and politicians now dictate through regulation automotive design as much as automakers or customers.

BMW Group Plant Spartanburg will build plug-in hybrid electric variations of the BMW X5 and BMW X3 in Spartanburg.  The 2020 BMW X5 xDrive45e Sports Activity Vehicle will begin production on August 1. Production of the BMW X3 xDrive30e will begin in December.  X5 and X3 are currently among the best-selling BMW models in the U.S.

“We have invested approximately $10 million to install a new battery assembly line and expanded the area to 86,000 square feet. This means we could double the number of batteries produced if needed to meet market demand,” said Michael Nikolaides, senior vice president engines and electrified drivetrains, BMW Group.  Continue reading →

Tweet
Posted in electric vehicles, manufacturing, new vehicle | Tagged , , , , , , , , , | Leave a comment

China: Jiangsu Saleen Automotive Technology Sportscars

Posted on 23 July 2019 by Ken Zino
AutoInformed.com on Jiangsu Saleen Automotive Technology Debut July 2019

Saleen Automotive will produce the Saleen 1 at a U.S. manufacturing facility for sales in the U.S. market.

Steve Saleen known for his racing career and performance Mustangs has announced “Vision 2020,” a five-year expansion plan for the California company with the Saleen 1, a turbocharged, 450 horsepower  mid-engine sportscar that is the successor to the Saleen S7supercar. At a projected MSRP of $100K, the Saleen 1 is a  “sports car with supercar credentials.”

To meet projected growth in sales of performance vehicles in China, Saleen announced a business partnership with Jiangsu Saleen Automotive Technology, Co. (JSAT) that will help Saleen expand its footprint into growing glbal markets with an emphasis on China.
 Continue reading →

Tweet
Posted in engineering, new vehicle, performance | Tagged , , , , , , , | Leave a comment

TS050 Hybrid Farewell Tour as WEC Changes LMP1 Rules

Posted on 22 July 2019 by Ken Zino
AutoInformed.com on 2019-2020 WEC Rule Changes

Sébastien Buemi, Kazuki Nakajima and Fernando Alonso, win 2019 Le Mans LMP1in the #8 TS050 Hybrid. FIA rule changes to slow the Toyota hybrid are coming this year.

The eight-race 2019-2020 World Endurance Cup season that kicks off this week with the annual Prologue test in Barcelona, represents the final competitive action for the Toyota TS050 Hybrid, which made its debut in 2016. Barcelona comes as the FIA announces changes to the LMP1 Equivalence of Technology rules.  (87th Le Mans 24 Hours)

In the latest attempt to have a “more equal level of performance and increased competition between the LMP1 Hybrid and Non-Hybrid prototypes competing in the WEC, the following Equivalence of Technology (EoT) changes” were announced today. (Le Mans 2018 – Wrecks, Pit Stops, Safety Car – Pick Winners. Toyota Finally Wins P1 After Years of Breakdowns with a Record 388 Laps.)
Continue reading →

Tweet
Posted in racing | Tagged , , , , , , , , | 1 Comment

Don Garlits, 87, Misses 200 MPH Quarter. Sets Record Anyway

Posted on 22 July 2019 by Ken Zino
AutoInformed.com on Don Garlits at Work

Garlits at work in the old nitro methane days.

Back in a rail and racing for the first time since in 16 years, “Big Daddy” Don Garlits missed his 200-mph goal on Saturday night at Palm Beach International Raceway. However, the legendary drag-racer still set a new world record by reaching 189.03 mph with an electric dragster on the quarter-mile strip. (Don Garlits, 87, in Swamp Rat 38 Electric Rail Tries for 200 MPH Quarter Tomorrow at Palm Beach International Raceway) Continue reading →

Tweet
Posted in people, racing | Tagged , , , , | Leave a comment

Josef Newgarden Wins IndyCar Iowa 300

Posted on 22 July 2019 by Ken Zino

Josef Newgarden at work in a Chevy.

The start of the Iowa race Saturday night was delayed four and a half hours because of lightning and heavy rain. The green flag finally waved at 11:45 p.m. ET. A shower at 12:12 a.m. ET led to a red flag at Lap 55. Joseph Newgarden was leading then, having passed teammate Will Power amid traffic in Turn 1. The 300 didn’t end until after 2 am with Newgarden in the lead.

The victory extends Newgarden’s IndyCar series points lead to 29 over Andretti Autosport’s Alexander Rossi, who finished sixth in a Honda. Newgarden lapped Rossi on Lap 185, although Rossi battled enough to make it look like racing for a few laps thereafter. Continue reading →

Tweet
Posted in racing | Tagged , , , , , , , | Leave a comment

SEC Charges Engine Manufacturing Company Execs with Fraud

Posted on 19 July 2019 by Ken Zino

AutoInformed.com on SEC Charges Power Solutions International

Click to Enlarge.

The Securities and Exchange Commission today charged the former chief executive officer of a Chicago-area engine manufacturing company – Power Solutions – and two former senior sales executives for their roles in an accounting fraud that allegedly overstated the publicly-traded company’s revenues by almost $25 million.

According to the complaint, filed in federal court in Chicago, Gary Winemaster, Power Solutions International Inc.’s former CEO, and two former senior sales executives, Craig Davis and James Needham, caused Power Solutions to fraudulently record revenue for purported sales of products that were not complete, that the customer had not agreed to accept, for which the price was falsely inflated, and from improper “bill and hold” arrangements.
Continue reading →

Tweet
Posted in financial results, fools 'n frauds, litigation | Tagged , , , , , , , | Leave a comment

Don Garlits, 87, in Swamp Rat 38 Electric Rail Tries for 200 MPH Quarter Tomorrow at Palm Beach International Raceway

Posted on 19 July 2019 by Ken Zino
AutoInformed.com on Don Garlits and Swamp Rat 38 - EV Rail

His two daughters made him “Daddy.” His numerous NHRA and IHRA record rail runs and victories made him the legendary “Big Daddy.”

A legendary drag racing name , “Big Daddy” Don Garlits, will attempt to set a world speed record in his Swamp Rat 38 electric dragster this Saturday, July 20 at Palm Beach International Raceway, Jupiter, FL.  Garlits last raced in public in 2003. He took Swamp Rat 34 out of his drag-racing museum and set a personal best 318.54 mph at the NHRA Nationals.

AutoInformed.com on Don Garlits at Work Garlits, the first man to break the 200-mph barrier in a Top Fuel dragster, is now trying to reach the 200-mph milestone in a battery-powered dragster on PBIR’s famous quarter-mile drag strip. Continue reading →

Tweet
Posted in alternative fuels, performance, racing | Tagged , , , , , | 1 Comment

2020 Chevrolet Corvette Stingray Revealed

Posted on 19 July 2019 by Ken Zino

AutoInformed.comThe 2020 Chevrolet Corvette Stingray is redesigned to bring customers “new levels of performance, technology, craftsmanship and luxury.” It continues the  sculptural shape of the current C7 Corvette, “conveying a sense of motion and power from every angle” in Chevrolet design babble, but it’s a mid-engine car – Corvette’s first

The Stingray’s gasoline engine is Chevy’s next-generation 6.2L Small Block V8 LT2 engine, producing up to 495 horsepower (369 kW) and 470 lb-ft (637 Nm) of torque — the most horsepower and torque for any entry Corvette. There will be more powertrain offerings going forward as global standards to fight CO2 tighten. Full debut footage – click here. Continue reading →

Tweet
Posted in marketing, new vehicle, performance | Tagged , , , , | Leave a comment