Beleaguered Stellantis Cuts 2024 Financial Guidance

Posted on 30 September 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA) today revised its 2024 financial guidance, “reflecting decisions to significantly enlarge remediation actions on North American performance issues, as well as deterioration in global industry dynamics.” Actions include North American shipment declines of more than 200,000 vehicles in the second half of 2024 (up from 100,000 prior guidance), compared to the prior year period, increased incentives on 2024 and older model year vehicles. (Read AutoInformed.com on: Stellantis Tanks in First Half of 2024 – Net Profit -48%)*

“The Company will continue to leverage and expand its competitive differentiators and believes that the recovery actions being put in place will ensure stronger operational and financial performance in 2025 and beyond,” Stellantis said in a terse release. “Deterioration in the global industry backdrop reflects a lower 2024 market forecast than at the beginning of the period, while competitive dynamics have intensified due to both rising industry supply, as well as increased Chinese competition,” Stellantis said. Continue reading →

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Loyalty Keeps Vehicle Buyers Out of Market Amidst Shortages

Posted on 30 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on Loyalty Keeps Vehicle Buyers Out of Market Amidst Shortages

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Perennial brand loyalty leaders including Toyota, Honda and Lexus have each been able to grow their respective shares of loyal customers amid stagnation experienced by other brands, according to the J.D. Power 2024 U.S. Automotive Brand Loyalty StudySM.

“Amid ongoing inventory shortages, the most loyal customers actually stayed out of the market if they were unable to get their desired vehicle,” said Tyson Jominy, vice president of data & analytics at J.D. Power. “Now that inventory levels are recovering, customers are coming back. In particular, Toyota and Honda are benefiting from increased availability of hybrid vehicles, with Honda owners swapping out their gas-powered vehicles for hybrids at nearly triple the rate of the industry average. Lexus is also benefiting from strengthened residual values, which are helping drive loyalty for the brand despite premium brands as a whole experiencing a plateau this year.” Continue reading →

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IPR Center Warns Consumers of Chinese Counterfeit Airbags

Posted on 27 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on IPR Center Warns Consumers of Chinese Counterfeit Airbags

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Vehicle owners and drivers across the country should be on high alert for unsafe and potentially deadly counterfeit auto parts as the National Intellectual Property Rights Coordination Center (IPR Center) said this week as it launched a new campaign, “Put the Brakes on Fakes.” Presumably auto repair shops know better, but AutoInformed wouldn’t bet on it.

“The rise in counterfeit automotive parts and equipment continue to be an alarming upward trend,” said IPR Center Director Ivan Arvelo. “This campaign, which is not just an initiative or routine consumer safety alert, is a movement to save lives, prevent the use of counterfeit parts, and ensure consumers and auto repair professionals are informed about critical risks associated with counterfeit and substandard auto parts.” Continue reading →

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Lima Refining Settles Clean Air Act Violations in Ohio

Posted on 27 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on Lima Refining Settles Clean Air Act Violations in Ohio

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The Justice Department and the Environmental Protection Agency today announced a settlement with the Lima Refining Company (LRC), a wholly-owned subsidiary of Canadian-based Cenovus Energy, to address violations of the Clean Air Act at its refinery in Lima, Ohio. LRC must pay a civil penalty of $19 million and implement ~$150 million in capital investments, including control technology expected to reduce emissions of benzene by an estimated 4.34 tons per year, other hazardous air pollutants (HAP) by 16.26 tons per year, and other volatile organic compound emissions (VOC) by 219 tons per year.

“This settlement is part of an ongoing initiative to curtail illegal benzene and VOC emissions at refineries that have failed to allocate the necessary personnel and capital investments to ensure compliance with rules they have long been subject to,” said Assistant Attorney General Todd Kim of the Justice Department’s Environment and Natural Resources Division. “Under the settlement, the refinery will implement controls that will greatly improve air quality and reduce health impacts on the overburdened community that surrounds the refinery.” Continue reading →

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McLaren W1 Supercar Global Reveal This Sunday

Posted on 27 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on McLaren W1 Supercar Global Reveal on Sunday

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McLaren Automotive today said that the next version of its legendary ‘1’ car line – a new supercar named W1, will be revealed at 13:00 BST on Sunday 6 October 2024. The McLaren W1 is the successor to the McLaren F1. The W1 name “celebrates McLaren’s World Championship mindset.” The public reveal date marks the 50th anniversary of McLaren winning its first Formula 1 Constructors’ World Championship, and Emerson Fittipaldi winning the 1974 World Drivers’ Championship with McLaren.

“The McLaren W1 is defined by real supercar principles and is the ultimate expression of a McLaren supercar. Born of our rich racing history and World Championship mindset, W1 pushes the boundaries of performance and is worthy of the ‘1’ name. Like its predecessors the F1 and McLaren P1™, W1 defines the rulebook of a real supercar,” Michael Leiters, Chief Executive Officer, McLaren Automotive. Continue reading →

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Prius Prime Changes its Name to Prius Plug-in Hybrid for 2025

Posted on 26 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on Prius Prime Changes its Name to Prius Plug-in Hybrid for 2025

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Toyota (NYSE:TM) said today that the 2025 model year version of Prius Prime will be rebranded as the  Prius Plug-in Hybrid. The change to the Prius Plug-in is intended to help consumers easily identify the powertrain choices among Prius models. The 2025 Prius Plug-in Hybrid will also adopt a “PHEV” badge on the rear, indicating its Plug-in Hybrid Electric Vehicle powertrain. It will be available in three grades: SE, XSE and XSE Premium. Pricing was omitted. Back in 2022 when a new Prius Prime model was introduced, with a manufacturer estimated EV range of up to 44 miles and a 6.6-second 0-60 time, it was a flexible vehicle short and longer trips. The 2025 with a 13.6 kWh lithium-ion battery, the SE grade has a manufacturer-estimated 44-mile all-electric driving range rating. While the XSE and XSE Premium have a manufacturer-estimated 40 mile all-electric driving range rating.

“When those long commutes are inevitable, the Prius Plug-in Hybrid puts Toyota’s fifth generation Toyota Hybrid System to work, combining a highly efficient 2.0-liter engine and electric motor generators for an efficient driving experience with a manufacturer-estimated of up to 52 MPG combined rating. It also has impressive horsepower and torque with 220 net-combined hybrid system horsepower and 139 lb.-ft. of torque,” Toyota said. Continue reading →

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GM Milford Proving Centennial Noted

Posted on 25 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on GM Milford Proving Centennial Noted

Engineers during the early days at Milford. Click for more.

More than 7,000 General Motors employees, retirees, and their families gathered at the company’s Milford Proving Ground site in southeastern Michigan last Saturday to mark the 100th anniversary of the company’s flagship vehicle testing facility.

“The Milford Proving Ground is at the heart of GM’s long history of innovation that has revolutionized the auto industry, from safety technology to Super Cruise – it’s where vehicles get better, and it’s where I started my career as a summer intern working on V6 noise and vibration,” said Mark Reuss, president, General Motors. “Today, we celebrate 100 years of Milford and look forward to its next century of leadership in vehicle testing and development.” Continue reading →

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Environmental Justice Climate Corps Launches

Posted on 25 September 2024 by Ken Zino

In commemoration of Climate Week NYC, the U.S. Environmental Protection Agency and AmeriCorps announced the Environmental Justice Climate Corps. This is a new partnership launched as part of President Biden’s American Climate Corps “to open doors for people to serve in careers that benefit disadvantaged and other low-income communities.” It also reaffirms the Administration’s commitment to creating pathways to middle class jobs and is a step to implementing the Biden-Harris Administration’s Executive Order to Promote Good Jobs by supporting workforce development through the American Climate Corps.*

“Our partnership is a first-of-its-kind effort within the federal government to expand pathways into environmental justice careers,” said Michael S. Regan, EPA Administrator. “This program will create opportunities for young people through President Biden’s American Climate Corps that will help folks in overburdened communities access and benefit from historic funding secured under the President’s Investing in America agenda.” Continue reading →

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C’est Fou – Chinese EVs Will Be at 2024 Paris Motor Show

Posted on 25 September 2024 by Ken Zino

Stellantis (NYSE: STLA) today announced it will participate in the 90th edition of the Mondial de l’Auto 2024 (Paris Motor Show) from 14 – 20  October with its three traditional brands – Citroën, Peugeot, and Alfa Romeo. More controversial will be the Chinese brand, Leapmotor making its debut at the show.

Leapmotor Founder, Chairman and CEO Zhu Jiangming, together with Stellantis CEO Carlos Tavares, will unveil the all-new B10, a C-segment SUV, expanding its product line-up in Europe’s core segment through this distinctive partnership in the automotive industry. Continue reading →

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Stellantis Holds Media Drive for Chinese Leapmotor EVs

Posted on 24 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Holds Media Drive for Chinese Leapmotor EVs

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The first European Media Drive is now taking place in Milan for the C10 and T03 models of the Leapmotor brand, a Chinese company in the technology field which has the highest growth in the New Energy Vehicle (NEV) sector.* The event, held in Milan and Lake Maggiore, marks the official debut of Leapmotor International in Europe. In a controversial move in October of 2023 Stellantis took 51% of a joint venture with Leapmotor that gives it exclusive rights to build, export and sell Leapmotor EVs outside China.**

“Stellantis will invest more than €50 billion during the next 10 years in the field of electrification and will do everything it can to reach the targets set out in its Dare Forward 2030 strategic plan, including the achievement of a 100% sales mix of BEV vehicles in Europe by 2030 and 50% of BEV passenger cars and light commercial vehicles in the United States. To reach these sales goals, the company is ensuring around 400 GWh of battery capacity with the support of six battery factories in North America and Europe. Stellantis aims to become a zero carbon-emissions company across all sectors by 2038, with a percentage offsetting for an amount of the remaining emissions,” the company formed by the merger of FCA and PSA said today. Continue reading →

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Connected Car Wars – Biden Takes on China and Russia

Posted on 23 September 2024 by Ken Zino

President Biden today announced today “strong action to protect America from the national security risks associated with connected vehicle technologies from countries of concern.” The Department of Commerce is issuing a notice of proposed rulemaking (NPRM) that would, if finalized as proposed, prohibit the sale or import of connected vehicles that incorporate certain technology and the import of particular components themselves from countries of concern, specifically the People’s Republic of China (PRC) and Russia.*

“Connected vehicles provide many benefits — from promoting vehicle safety to assisting drivers with navigation — but they also pose new and growing threats. These technologies include computer systems that control vehicle movement and collect sensitive driver and passenger data as well as cameras and sensors that enable automated driving systems and record detailed information about American infrastructure. Now more than ever, vehicles are directly connected into our country’s digital networks,” The White House said. Continue reading →

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Annals of Marketing – VW Gewürz Ketchup Brand

Posted on 23 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on Annals of Marketing - VW Gewürz Ketchup Brand

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Volkswagen of America announced today that VW part number 00010 ZDK-259-101, VW Gewürz Ketchup Brand, a condiment used to dress VW currywurst, will be available in the U.S. for a limited time. The public can claim their own bottle, distributed through DriverGear retail operation, starting today at no cost while supplies last.

“This year we’re celebrating more than a big anniversary of selling cars,” said Rachael Zaluzec, Senior Vice President of Customer Experience and Brand Marketing, Volkswagen of America. “We’re celebrating stories, memories, passion, and all the fun, and unexpected things that make Volkswagen the brand we are today —things like our Gewürz Ketchup Brand condiment.” Continue reading →

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Solid-State Cell Technology – All Hype No Production Way?

Posted on 23 September 2024 by Ken Zino

“With a stream of major cell suppliers regularly announcing ‘major’ breakthroughs in solid-state cell technology, it is proving difficult to discern the reality of the state of play at present.” This from GlobalData’s dedicated research platform, the Automotive Intelligence Center, which was released today as an analyst’s comment.*

“The harsh reality is that 90% of news, plans and solid-state plant activity appears to be bogus, as start of production (SOP) dates slip or vanish, with this being particularly true of information coming from China,” said Oliver Petschenyk Powertrain Analyst at GlobalData. Continue reading →

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Unifor GM Members Ratify New Contract for CAMI Assembly

Posted on 23 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on Unifor GM Members Ratify New Contract for CAMI Assembly

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Unifor members working at the CAMI Assembly and Battery Assembly plants over the past week ratified a new collective agreement with General Motors.* There are pay increases, supporting Unifor’s Detroit Three pattern agreement and eliminates a historic pay lag with counterparts at other Canadian GM facilities. Unifor Local 88 members voted 95.7% in favor to ratify the new two-year agreement, which will expire on September 20, 2026. Local 88 represents more than 1300 members at CAMI Assembly and Battery Assembly who manufacture the Chevrolet BrightDrop EV 600 and EV 400 and Ultium battery modules.

“We are pleased our team members at CAMI Assembly, the manufacturing home of the Chevrolet BrightDrop electric van, have ratified a new agreement that supports our employees and our business. Thank you to the entire Unifor bargaining committee and our GM Canada labor team for your leadership and collaboration,” said Kristian Aquilina, GM Canada President and Managing Director. Continue reading →

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California Economy Booms as Greenhouse Gases Decline

Posted on 20 September 2024 by Ken Zino
Ken Zino of AutoInformed.com on California Economy Booms as Greenhouse Gases Decline

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A report* released today by the California Air Resources Board shows that for 2022 greenhouse gas emissions dropped across most sectors and is the equivalent of removing more than 2.2 million gasoline- or diesel-fueled vehicles off California’s roads for one year. Between 2000 to 2022, emissions fell by 20% while California’s gross domestic product increased by 78%. This shows the effectiveness of the state’s climate change and air quality programs, which will be rejected by climate deniers and fossil fuel lobbying funding organizations, political candidates or parties.

“California is proving that climate action goes hand-in-hand with economic growth. We’ve slashed carbon pollution by a whopping 20% since the turn of the century all while building the world’s fifth largest economy. Cleaner air, more good jobs – that’s the California way,” said Governor Gavin Newsom. Continue reading →

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