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…

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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 →

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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

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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 →

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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

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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 →

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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 →

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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 →

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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?

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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 →

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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

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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 →

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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 →

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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 →

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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 →

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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

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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 →

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More Stellantis Executive Changes as Stock Drops

Posted on 3 February 2025 by Ken Zino

Stellantis (NYSE: STLA) said today it is taking more steps to simplify its organization aligned with its shakeup in December 2024. These measures allow for the right balance between regional and global responsibilities to enable speed of decision and execution. They further reinforce Stellantis’ commitment to listening to the voice of the customer and lay the ground for renewed growth. (Read AutoInformed.com on: Carlos Tavares Out as Stellantis CEO and Stellantis Q3 2024 – Shipments and Revenues Plunge)

“Through targeted organizational adjustments, the regions now have enhanced local decision-making and execution capabilities in respect of product planning, product development, industrial and commercial activities, while maintaining coordination with the Company’s global functions to best serve their customers,” Stellantis said. However, there still is no new permanent Chief Executive Officer from the Special Committee of the Board of Directors at a time when Trump’s executive orders – viz tariff’s – are wreaking havoc in the auto industry. Stellantis shares are down ~8% this morning. Continue reading →

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State Privacy Laws Failing to Protect Your Data

Posted on 31 January 2025 by Ken Zino
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Nearly half of states that passed consumer privacy laws get a failing grade for protecting consumers’ data, according to “The State of Privacy,” an updated scorecard released today from the Electronic Privacy Information Center (EPIC) and U.S. PIRG Education Fund. Of the 19 states with laws, eight received Fs, and none received an A. Since 2018, 44 states have considered consumer privacy bills that allegedly aim to protect consumers’ privacy and security. Many of these bills, however, have been heavily influenced or bought and controlled by companies such as Amazon, leading to significantly weakened consumer protections across the country. The U.S. currently has no comprehensive federal privacy law.*

The more data companies collect about us, the more our data is at risk. When companies hold your data, the greater the odds it will be exposed in a breach or a hack and end up in the hands of identity thieves, scammers, or shadowy companies known as data brokers that buy and sell a huge amount of data about Americans “Many of these ‘privacy laws’ protect privacy in name only,” said Caitriona Fitzgerald, deputy director of EPIC. “In effect, they allow companies to continue hoarding our personal data and using it for whatever purposes they want. Big Tech should not be allowed to write the rules.” Continue reading →

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Ford to Return to Le Mans in 2027

Posted on 31 January 2025 by Ken Zino
Ken Zino of AutoInformed.com on Ford to Return to Le Mans in 2027

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Ford Motor Company is returning to the pinnacle of prototype sports car racing in the FIA World Endurance Championship (FIA WEC) in 2027. Ford Performance field a full factory team entering with the aim of winning the 24 Hours of Le Mans. Between 1966 and 1969, Ford captured four consecutive overall victories in the city of Le Mans, France. Since then, Ford has focused on class victories  in 2016 with the Ford GT in GTLM and more recently with the Ford Mustang GT3. The Mustang won its first 24-hour race in the production-based GTD Pro class at the Rolex 24 in Daytona last weekend.

“We are entering a new era for performance and racing at Ford. You can see it from what we’re doing on-road and off-road. When we race, we race to win. And there is no track or race that means more to our history than Le Mans. It is where we took on Ferrari and won in the 1960s. It is where we returned 50 years later and shocked the world and beat Ferrari again” said Bill Ford, Ford Motor Company Executive Chair I am thrilled that we’re going back to Le Mans and competing at the highest level of endurance racing. We are ready to once again challenge the world, and ‘go like hell!’” The announcement didn’t mention Carrol Shelby who not only coined the “go like hell” phrase on a pit board message to a driver, but was instrumental in Ford’s first LeMans win. Shelby is the only man to have won the 24 Hours of Le Mans as a driver, team owner and automotive manufacturer.* Continue reading →

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Toyota Motor Leads Global 2024 CY Sales at 10.8M

Posted on 30 January 2025 by Ken Zino

Toyota Motor Corporation (7203.T) today posted its sales, production, and export results for December 2024 , and significantly the total from January to December 2024, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors. (click here for data by market and type.)With 10.8 million sold – down ~3.7% because of regulatory compliance issues in Japan and the ongoing EV price war in China – TMC easily out sold the Volkswagen group, which reported a 2.3% drop in global sales for 2024 at ~9 million. This makes TMC the undisputed global sales leader for the fifth straight year.

Lexus announced today its 2024 global sales were a record high at 851,214 units (a 103.3% increase compared to the previous year). This growth was attributed to strong demand, particularly in North America and Europe, along with the recovery of stable parts supply contributing to increased global sales. The new LBX and LM models have been well received, according to Lexus, with strong sales of the core RX and NX models. Battery EV (BEV) models, such as the “RZ” and “UX300e,” also achieved strong sales with a year-over-year growth of 119%, contributing to the electrified vehicle* ratio reaching a record-high 52% of total Lexus sales. Continue reading →

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