BMW i Ventures Buys into GreenSpark Software

Posted on 7 February 2025 by Ken Zino

BMW i Ventures* said today it is investing in GreenSpark Software, a New York City-based company building operating software for the metal recycling industry. Existing investors Zero Infinity Partners and Third Prime also participated in the latest investment round. GreenSpark has raised ~$25 million in venture financing from BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville Capital, and Tiger Global. (Read AutoInformed.com on: BMW i Ventures Buys into Phoenix Tailings)

“This investment positions GreenSpark to fast-track its product roadmap, expand into larger enterprise segments, and drive innovation in an industry that has long been underserved by technology,” BMW said. “Despite being a crucial part of the recycling ecosystem, the $120 billion+ recycled materials industry has lacked intuitive, modern software to streamline operations, finance, logistics, and commercial functions. GreenSpark’s platform leverages the latest technology to provide solutions for all segments of the recycled metals value chain, accelerating the circular economy and boosting operators’ profitability,” i Ventures claimed. Continue reading →

Tweet
Posted in auto news, environment, manufacturing, mobility company, news analysis | Tagged , , , , , , , , , , , , , | Leave a comment

Used Vehicle Prices Poised to Soar?

Posted on 7 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Used Vehicle Prices Poised to Soar?

Click to enlarge.

Wholesale used-vehicle prices (mix, mileage, seasonally adjusted basis) moved 0.4% higher in January compared to December, causing the Manheim Used Vehicle Value Index (MUVVI) to increase to 205.6, a gain of 0.8% from a year ago. The seasonal adjustment to the index muted the movement for the month, as non-seasonally adjusted values rose faster than seasonally adjusted values. The non-adjusted price in January increased by 0.6% compared to December, moving the un-adjusted average price up 1.1% year over year, Cox Automotive said today.* Notably absent was any mention of the Trump tariff chaos, which likely will significantly increase new vehicle prices and thereby increasing demand and prices for used vehicles.

“While it’s not yet spring, wholesale values increased more than we usually see in the month of January, with particular strength at the end of the month,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “The Manheim index is at the highest point since October 2023, after we experienced stronger-than-usual gains in non-seasonally adjusted values. Currently, retail days’ supply at used dealerships sits nine days lower than last year, and we are just now on the cusp of starting the spring wholesale market.” Continue reading →

Tweet
Posted in auto news, news analysis, prices | Tagged , , , , , , , , , | Leave a comment

Porsche Posts Preliminary 2024 Results

Posted on 7 February 2025 by Ken Zino

Porsche AG said late yesterday it expects these results (unaudited) for the 2024 financial year: The automotive net cash flow margin is over 10% (forecast 7 to 8.5%). The return on sales is at the lower end of the forecast range. Other performance indicators “do not show significant deviations from the forecast ranges.”

However, Porsche said it would incur an  €800 million (~$831 million) charge against operating profit this year because of the cost of introducing new models with internal combustion engines, as well as plug-in hybrids. Continue reading →

Tweet
Posted in auto news, financial results, manufacturing, mobility company, news analysis, sales | Tagged , , , , , , , | Leave a comment

Annals of Marketing – Mercedes-Benz Miami Real-Estate

Posted on 6 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Annals of Marketing - Mercedes-Benz Miami Real-Estate Project

Click to enlarge.

Mercedes-Benz and JDS Development Group today started the sales launch for the second tower at Mercedes-Benz Places in Miami. On February 5th, the office opened, accompanied by the unveiling of the Silver Arrow Lounge. Spanning more than 2.5 million square feet, Mercedes‑Benz Places in Miami is the brand’s first real estate project in the U.S. and one of the largest developments of its kind currently under construction in Florida, Mercedes-Benz claimed.

“With construction of Mercedes-Benz Places in Miami well underway, we are laying the foundation for one of the most ambitious and innovative residential projects in Florida. Together with our partner, JDS Development Group, we will showcase outstanding architecture, which is undeniably Mercedes-Benz and deliver a community experience that is second to none,” Eva Wiese, Head of Mercedes-Benz Customer Solutions GmbH. Continue reading →

Tweet
Posted in connected vehicles, economy, marketing, news, shows and events | Tagged , , , , , , , , , | Leave a comment

Volvo Cars Posts Record Sales, Revenue, Profits in 2024, but…

Posted on 6 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Volvo Cars Posts Record Sales, Revenue, Profits in 2024, but…

Click to enlarge.

Volvo Cars (VOLCAR B:STO)* today posted a record-breaking year in 2024 with the highest full-year retail sales, revenues and core operating profit in its 98-year history. However, the Chinese owned company anticipates a turbulent 2025 “due to challenging market conditions,” aka Trump’s Trade and Tariff Wars.** “Full-year revenues exceeded SEK 400 billion for the first time in the company’s history, due to a new all-time sales record of 763,389 cars. Its full-year core operating profit of SEK 27 billion, excluding joint ventures and associates, was another record and up 6% compared to 2023. The core operating margin came in at 6.8%, up from 6.4% in 2023,” Volvo said.

“2024 was a year of two halves,” said Jim Rowan, chief executive for Volvo Cars. “For the first six months, we recorded strong double-digit volume growth. But like the rest of the industry, we experienced a more challenging second half. Demand slowed down and this had an impact on both our sales pace and underlying profitability.” Continue reading →

Tweet
Posted in auto news, car sharing, connected vehicles, economy, environment, financial results, insurance, manufacturing, marketing, mobility company, news analysis, sales, shows and events | Tagged , , , , , , , , , | Leave a comment

Ford Motor Posts Mixed Results for 2024

Posted on 5 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Ford Motor Posts Mixed Results for 2024

Click for more.

Ford Motor Company (NYSE: F) today posted Q4 full-year 2024 financial results. They were mixed from awful to okay. During 2024, Ford Blue’s revenue was flat at $101.9 billion as positive net pricing offset a 2% decline in wholesale vehicle transactions from what Ford said were the cancellation of low-margin products. The internal combustion engine segment at Ford’s  earnings before taxes (EBIT) was $5.3 billion. Ford ModeE reported a full-year EBIT loss of $5.1 billion. The electric vehicle e segment delivered $1.4 billion in cost improvements, net of a $100 million increase in spending to launch new battery plants and next-generation electric vehicles, Ford said. For full-year 2024, revenue climbed 5% to $185 billion; net income was $5.9 billion, and adjusted EBIT was $10.2 billion. For 2025 Ford is predicting a $2 billion profit drop! Bloomberg says that 27% of analysts have a sell recommendation, the highest on record.  (read AutoInformed.com on Ford Motor Shuffles Leadership Amid Trump Chaos and Ford Motor Posts 2023 Net Income of $4.3 Billion)

“Ford is becoming a fundamentally stronger company. We finished 2024 with a solid fourth quarter, capping the highest revenue year in Ford’s history,” said President and CEO Jim Farley. “Our product portfolio offers the broadest powertrain choice. And Ford Pro, with its mid-teen margins, leading market position, and growing service and repair revenue, provides unique advantages for continued growth. In 2025, we expect to make significantly more progress on our two biggest areas of opportunity – quality and cost – as we enter the heart of our Ford+ transformation. We control those key profit drivers, and I am confident that we are on the right path to create long-term value for all our stakeholders,” Farley claimed.* Continue reading →

Tweet
Posted in auto news, connected vehicles, economy, electric vehicles, financial results, insurance, mobility company, news analysis, shows and events | Tagged , , , , , , , , , | Leave a comment

Toyota Motor Posts FY2025 Q3 Net Revenue Gain

Posted on 5 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Motor Posts FY2025 3Q Net Revenue Gain

Click to enlarge.

Toyota Motor Corporation (TMC: Tokyo 7203. NYSE: TM) today announced financial results for the third quarter fiscal year 2025, which ended 31 December 2024. TMC also announced significant changes in China. Consolidated vehicle sales totaled ~7,000,000 units, a decrease of ~295,000 units compared to the same period fiscal year 2024. On a consolidated basis, net revenues for the period totaled 35.673 trillion yen ($233.2 billion), an increase of 4.9%. Operating income decreased from 4.240 trillion yen ($29.7 billion) to 3.679 trillion yen ($24.0 billion), while income before income taxes [footnote 1] was 5.430 trillion yen ($35.5 billion). Net income [footnote 2] increased from 3.947 trillion yen ($27.6 billion) to 4.100 trillion yen ($26.8 billion).{see AutoInformed.com on  Toyota Motor FY2025 Q2 Earnings Down Significantly}*

“As a symbol of Toyota’s uniqueness, we have been honing product-and region-based management. As we are striving the activity this fiscal year also, I feel that we will be able to further enhance our earning power,” said Chief Financial Officer Yoichi Miyazaki. “The transformation into a mobility company is something we believe can be built by repeatedly taking on challenges together with partners who share the same aspirations.” Continue reading →

Tweet
Posted in auto news, connected vehicles, economy, electric vehicles, environment, financial results, insurance, manufacturing, marketing, mobility company, news analysis, results, shows and events | Tagged , , , , , , , , , | Leave a comment

Volvo Car USA and Canada Posts January Sales Increase

Posted on 5 February 2025 by Ken Zino

Volvo Car USA and Canada (Nasdaq Stockholm VOLCAR B) today reported sales of 8755 cars for January, up 5.4% year-over-year. Electrified models, fully electric or plug-in hybrid powertrain, increased 43.8% year-over year (YoY). They accounted for 35.8 % of sales during the first month of the year.

“We are excited to see a strong start to the year and look forward to continued growth in the US and Canada with our new XC90, EX90 and EX30 SUVs complementing a full lineup of cars that make life easier, better and safer for everyone,” said Mike Cottone, President, Volvo Car USA and Canada. No mention whatsoever was made of President Trump’s ongoing and unpredictable trade and tariff wars.* Continue reading →

Tweet
Posted in auto news, electric vehicles, global warming, manufacturing, marketing, news analysis, results, sales | Tagged , , , , , , , , , | Leave a comment

Ford Motor Shuffles Leadership Amid Trump Chaos

Posted on 5 February 2025 by Ken Zino

Ford Motor Company (NYSE: F)* today announced key executive changes as the chaos of the Trump Administration continues to cause as yet unknown damages to the economy and the auto industry. Two positions, John Lawler to Vice Chair to look after strategy, partnerships and alliances; and Sam Wu, President Ford China adding Ford’s International Markets Group, will require insight, and frankly lucky hunches given Trump’s random, variable and reversible assaults on trade, tariff’s and vital international organizations to return Ford Motor to a reliably profitable path.

“We continue to build a talented, mission-driven leadership team that will consistently deliver results while transforming Ford into a higher-growth, higher-margin, more durable company in this fast-changing and competitive environment,” said Ford President and CEO Jim Farley. Continue reading →

Tweet
Posted in auto news, connected vehicles, economy, environment, global warming, mobility company, news analysis, people, sales | Tagged , , , , , , , , , , , , , | Leave a comment

Annals of Marketing – Rolls-Royce Scent of Money?

Posted on 4 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Annals of Marketing - Rolls-Royce Scent of Money?

Click to enlarge.

Rolls-Royce Motor Cars said today it’s taking the interior experience of its cars with the launch of Rolls-Royce Scent, introduced on its Phantom.* Developed by an in-house perfumer of the marque’s Bespoke Collective, the Scent is said complement the natural aromas of the materials used within the motor car. The fragrance combines notes of Amyris, Cedarwood, Rosewood and Iris.

“A Rolls-Royce interior is a unique space in which every element is meticulously curated to create an unparalleled multi-sensory experience. With our new fragrance concept, Rolls-Royce Scent, we move beyond the visual and tactile realms into a new dimension. Designed and developed by our in-house perfumer and delivered using patented technology, this fragrance elevates the already peerless Rolls-Royce experience, creating an environment that is even more special, and absolutely unmistakable,” said Martina Starke, General Manager, Bespoke Design, Rolls-Royce Motor Cars. Continue reading →

Tweet
Posted in auto news, design and styling, marketing, milestones, news analysis, shows and events | Tagged , , , , , , , , | Leave a comment

Cox Automotive Alters January Forecast Sales Down

Posted on 4 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on Cox Automotive Alters January Forecast Sales Down

Click to enlarge.

New-vehicle sales in January increased compared to year-ago levels, but initial results indicate that market volume likely came in slightly below the forecast, Cox Automotive** said today. The original Cox Automotive forecast* called for year-over-year growth of 5.2% at 15.8 million, but early estimates “suggest the increase was closer to 4%,” at 15.6. Some automakers posted record January volume and others saw declines from January 2024 levels.

“Our market continues to be one of diverging stories,” said Cox Automotive Chief Economist Jonathan Smoke. “While the macro view is one of growth, ‘actual experience may vary.’ January is typically a low-volume sales month, and there were no shortages of sales challenges last month – from extreme cold over much of the market to major fire disruptions in Southern California. Consumer confidence also declined more than expected in January and was lower than in January 2024, the first yearly decline since September. All factors considered, the positive sales performance in January was a good sign for the market,” Smoke said. Continue reading →

Tweet
Posted in auto news, car sharing, connected vehicles, economy, manufacturing, marketing, news analysis, sales, Trump Truth Tests | Tagged , , , , , , , | Leave a comment

Subaru Forester Recall for Bad Alloy Wheels

Posted on 3 February 2025 by Ken Zino

Subaru of America (Subaru Corporation NASDAQ: FUJHF) is recalling more than 20,000 2025 Forester vehicles equipped with 18″ aluminum alloy wheels, according to the required recall documents made public today by the National Highway Traffic Safety Administration.

“The wheels may have been manufactured with an incorrectly specified lug seat surface, which can result in the wheel being improperly attached and cause a loss of vehicle stability,” Subaru said in the required safety defect recall filing. Continue reading →

Tweet
Posted in auto news, car sharing, customer satisfaction, manufacturing, news analysis, recalls, safety | Tagged , , , , , , , , , | Leave a comment

Toyota Recalls a Previous Bad Airbag Recall

Posted on 3 February 2025 by Ken Zino

Toyota Motor Engineering & Manufacturing is recalling 2023 Toyota Corolla, Corolla Cross, Corolla Cross Hybrid, Highlander, Highlander Hybrid, Tacoma, Lexus RX350, 2023-2024 NX250, and NX350 vehicles that may have been incorrectly repaired under previous NHTSA recall number 23V-480. (Read AutoInformed.com on: Toyota and Lexus Recalling Numerous Vehicles for Bad Airbags)

“An electrical connection inside the steering column’s spiral cable assembly may be insufficiently welded, causing the connection to separate and deactivate the driver’s air bag. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 208, “Occupant Crash Protection,” Toyota said in the mandatory safety defect filing made public by the National Highway Traffic Safety Administration this morning. Continue reading →

Tweet
Posted in auto news, customer satisfaction, electronics, manufacturing, news analysis, quality, recalls, safety | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Acura MDX Vehicles recalled for Bad Rear-view Cameras

Posted on 3 February 2025 by Ken Zino

American Honda Motor Company is (7267.T) recalling more than 9000 2025 Acura MDX vehicles for bad back-up cameras, according to  a safety defect filing made public by the National Highway Traffic Safety Administration this morning.

“The touchscreen in the center console may go blank, resulting in the rearview camera image not displaying as intended. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 111, Rear Visibility,” Honda said in the mandatory safety defect recall filing. Continue reading →

Tweet
Posted in auto news, customer satisfaction, electronics, manufacturing, news analysis, recalls, safety, software recalls | Tagged , , , , , , , , , , | Leave a comment

U.S. GDP Growth Puny in Q4 2024

Posted on 3 February 2025 by Ken Zino
Ken Zino of AutoInformed.com on U.S. GDP Growth Puny in Q4 2024

Click to enlarge.

Fiscal policy increased U.S. GDP growth by 0.3 percentage point in the fourth quarter of 2024, the Hutchins Center Fiscal Impact Measure (FIM)* released today shows. The FIM translates changes in taxes and spending at federal, state, and local levels into changes in aggregate demand, showing the effect of fiscal policy on real GDP growth. GDP increased at an annual rate of 2.3% in the fourth quarter of 2024, according to the government’s latest estimate. The 0.3 percentage point increase in the fourth quarter was largely the result of slightly stimulative taxes and transfers.

“We expect the FIM to turn negative in the next quarter and remain so through the end of our forecast period (the fourth quarter of 2026), largely driven by weak growth in federal and state purchases and only partially offset by strong growth in net transfers. Continue reading →

Tweet
Posted in news analysis | Tagged , , , , , , , , , , , , | Leave a comment