Honda and IBM MoU on Software-Defined Vehicles

Posted on 16 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on Honda and IBM MoU on Software-Defined Vehicles

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Honda Motor Co., Ltd. said that it  and IBM have signed a Memorandum of Understanding (MOU) outlining their intent to collaborate on the long-term joint research and development of next-generation computing technologies *[1] needed to overcome challenges related to processing capability, power consumption, and design complexity for the completion of the software-defined vehicles (SDV) of the future.

The agreement begs the question about the future of Honda’s EV development agreement in 2020 with General Motors based on GM’s global EV platform powered by Ultium batteries. The exteriors and interiors of the new EVs will be exclusively designed by Honda, and the platform “will be engineered to support Honda’s driving character.” (AutoInformed: GM and Honda to Jointly Develop Honda Electric Vehicles)+ Continue reading →

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NHTSA Again Warns Drivers on Steering Wheel Decals

Posted on 16 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on NHTSA Consumer Alert on Steering Wheel Decorations

Not a bright idea…

The National Highway Traffic Safety Administration is again warning consumers not to use or buy aftermarket steering wheel decals after learning of another driver who suffered severe injuries from the decorative emblem during a crash, NHTSA said this week. The driver was involved in a crash in which the air bag deployed and sent two pieces of a metal aftermarket decal with rhinestones into the person’s face and neck. (AutoInformed.com on NHTSA Consumer Alert on Steering Wheel Decorations)

NHTSA said it is aware of at least one other driver who suffered severe injury from an aftermarket steering wheel decal in a crash. In that case, the driver lost sight in one eye after the rhinestone-adorned decal dislodged from the steering wheel hitting the driver in the face. Continue reading →

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Chinese Trade Wars – Leapmotor International Established

Posted on 15 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on Chinese Trade Wars - Leapmotor International Begins Operations

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Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM) and Leapmotor (Zhejiang Leapmotor Technologies Ltd (9863.HK) yesterday in Hangzou, China announced that the two companies have received all required authorizations. The formation of Leapmotor International B.V., a 51%/49% Stellantis-led joint venture, is now complete. The notice was made as the US escalated its tariffs and sanctions against Chinese made EVs, batteries and other industrial products. (read AutoInformed: Chinese EV Trade War Commences, Stellantis Invests in Chinese Leapmotor to Expand EV Sales, GAC-FCA JV to File for Bankruptcy)

“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models* that will compete with existing Chinese brands in key markets around the world,” said Stellantis CEO Carlos Tavares. “Leveraging our existing global presence, we will soon be able to offer our customers price competitive and tech-centric electric vehicles that will exceed their expectations.” Continue reading →

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Kia and Hyundai Models Have Highest Theft Rates in 2023

Posted on 15 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on Kia and Hyundai Models Have Highest Theft Rates in 2023

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Kia and Hyundai vehicles experienced the highest theft rates in 2023, breaking the years-long trend of full-size pickups topping the list, according to a new report issued by the National Insurance Crime Bureau (NICB). Social media posts explaining how to steal these vehicles likely played a factor in the latest data.

“These rankings highlight the persistent threat of vehicle theft across the country,” said NICB President and CEO David J. Glawe. “NICB works with law enforcement agencies and industry partners to deploy advanced technologies and strategies to combat vehicle theft from organized criminal networks and individuals. Even as we work to deter crime, it is crucial for owners to remain vigilant and take proactive measures to protect their vehicles.” Continue reading →

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Chinese EV Trade War Commences

Posted on 14 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Invests in Chinese Leapmotor to Expand EV Sales

Risky business – betting on a Chinese company to win? Click for more.

The Biden Administration has announced today that it will increase tariffs under Section 301 of the Trade Act of 1974 passed overwhelmingly under the Republican President Gerald Ford administration on $18 billion of imports from China to protect American workers and businesses. The immediate effects are negligible. However, there are longer term implications for U.S. trade and possibly consumers. One thing is clear, slightly priced imports in large volumes across sectors have negative consequences for the country being flooded with them.  (read AutoInformed on: Trump’s Losing Trade Wars – Auto and Other Deficits Grow)

“The President’s actions reflect the conclusions of U.S. Trade Representative Katherine Tai’s mandatory four-year review that China continues to engage in unfair practices, such as forced technology transfer and restrictions and intellectual property theft from U.S. companies,” media were told on a background briefing by National Economic Advisor Lael Brainard and Senior Administration Officials. Continue reading →

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VW Microbus Will Come to the US in Three Trims

Posted on 13 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on VW Microbus Will Come to the US in Three Trims

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Volkswagen of America today said that the 2025 ID. Buzz, the electric powered nostalgia marketing, Microbus* will be offered in three trims, unlike the untrimmed original owners  — Pro S and Pro S Plus. There will also be a launch-only 1st Edition with a 91 kWh battery and 282 horsepower for rear-wheel drive models. The 4Motion® all-wheel-drive models will have a maximum rated horsepower of 335. Range and pricing will be announced closer to launch.

Exterior colors will be available, based on trim level. Two-tone options will either pair a Candy White top with (marketing babble alert> Energetic Orange, Pomelo Yellow, Blue Charcoal, Mahi Green, Metro Silver, Cabana Blue or Indium Grey below; or a Metro Silver top with Cherry Red below. Three single-tone options will be offered: Metro Silver, Candy White, and Deep Black Pearl. Continue reading →

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DOT Funds New Climate and Transportation Research Center

Posted on 13 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on DOT Funds New Climate and Transportation Research Center

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The U.S. Department of Transportation (DOT) today announced $1.7 million in research funding for a Climate Change and Transportation Research Center at the University of California, Davis. The new “Center for Emissions Reduction, Resiliency, and Climate Equity in Transportation” is a cooperative agreement that will support  the DOT Climate Change Center as well as other DOT climate and research programs.

The announcement came, perhaps not coincidentally but certainly fortuitously after a current Manhattan courtroom occupant, aka Donald Trump, who is being tried for fraud, recently asked the oil and gas industries for $1 billion in political contributions so that he can stop all work on decarbonization and climate change. (see: Draining the Swamp – California, 22 States Sue to Stop Trump Emissions Rollback Citing Economic, Health and Climate Goals) Continue reading →

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Clean Air Act – Prison for Man Disabling Emissions Controls

Posted on 13 May 2024 by Ken Zino

A man was sentenced today for ongoing violations of  the Clean Air Act through an aftermarket scheme to disable the emissions control systems of diesel trucks. Davis Owens, 34, of Cleves, Ohio was sentenced to serve 30 days in prison, seven months of home confinement and one year of supervised release.

Owens was the co-owner of Holderdown Performance and owner of Cincy Diesel Performance. In 2020, Owens entered a Consent Agreement and Final Order (CAFO) with the Environmental Protection Agency (EPA) regarding allegations that he and Holderdown had knowingly worked to bypass or “defeat” components that controlled emissions on heavy duty diesel truck engines, according to court records. Continue reading →

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Porsche 911 Hybrid Debuts on 28 May

Posted on 13 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on: Porsche 911 Hybrid Debuts on 28 May

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Porsche said this morning in in Stuttgart that a hybrid-drive 911 sports car has completed development and will premiere on 28 May 2024. It is said to be 8.7 seconds faster than its predecessor on the Nürburgring, the track that is often used by marketers of performance sports cars for bolstering credulity of claims. Porsche performance claims have an extremely high degree of accuracy in AutoInformed’s experience. Quality is another matter. (AutoInformed: Taycan Turbo GT Sets Records at Laguna Seca, Nürburgring)*

“For the first time in our icon’s 61-year history, we are installing a hybrid drive system in a road-going 911. This innovative performance hybrid makes the 911 even more dynamic,” said Frank Moser, Vice President Model Line 911 and 718. “We left nothing to chance during development and tested the new 911 under all sorts of conditions all over the world.” Continue reading →

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Honda Post Record Operating Profit of $7B in FY 24

Posted on 10 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on Honda Post Record Operating Profit of $7B in FY 24

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Honda said this morning in Japan that it reached an operating profit in FY24 that was an historical high of $7 billion (¥1 trillion 381.9 billion) Honda is Japan’s second largest automaker. Sales increased $131,000,000 during the fiscal year. Sales revenue, profit before income taxes and profit for the year attributable to owners of the parent all reached record highs.

“In FY25, we will steadily proceed with dedicating resources towards electrification and aim to achieve operating profit of ¥1 trillion 420 billion and an operating profit margin of 7%, which is one year ahead of our original target,” said Toshiro Mibe, Director, President and Executive officer. He was the first Honda chief executive in history to attend the annual results conference. Normally, the finance staff conducts it with regional operating officers. Continue reading →

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Toyota Motor Posts Record FY24 Net Income of $39.1B

Posted on 10 May 2024 by Ken Zino

Toyota Motor – the world’s largest automaker – posted impressive operating results for the 2024 Japanese fiscal year (¥5 Trillion 352.9B) with an operating profit margin of ~11% up from ~7% a year ago. This appear to be the largest profit ever posted by a Japanese company. Consolidated vehicle sales were 9,443,000, which was 107.0% of FY 2023 volume. (AutoInformed: New Toyota Motor President Koji Sato on Evolution; Toyota Cleans Daihatsu House Over False Tests)

“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading →

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Nissan Motor Posts FY Net Profit of $2.7 billion

Posted on 10 May 2024 by Ken Zino
Ken Zino of AutoInformed.com on Nissan Motor Posts FY Net Profit of $2.7 billion

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Nissan Motor (7201T) financial results for the full year and the fourth quarter of the Japanese fiscal year ending 31 March 2024 show full year net operating profit of $2.7 billion was up +51% year over year with its automotive business posting an operating profit of ¥260 billion.

Global sales remained at 3.44 million units, which were squeezed by intensified s competition. Nissan’s consolidated net revenue was ¥ 12.686 trillion. The operating profit of ¥568.7 billion translates to an operating margin of 4.5%. “This was due to logistics, other risks such as the Noto Earthquake and various cost relief made to suppliers such as inflation, and other factors,” Nissan said. Continue reading →

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Hyundai Capital America Fined for Civil Rights Violations

Posted on 9 May 2024 by Ken Zino

The Justice Department said today that Hyundai Capital America* has agreed to pay $333,941 to resolve allegations that it violated the Servicemembers Civil Relief Act** (SCRA) by illegally repossessing 26 vehicles owned by servicemembers. (AutoInformed on Illegally Towed Vehicles – DOJ Helping Service Members)

“Members of our Armed Forces should not have to worry about having their cars repossessed while they are in military service,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division. “The Justice Department remains steadfast in its commitment to enforcing laws that safeguard the rights of our service members so that they can devote their full energy and attention to the defense of our country.”
 Continue reading →

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BMW Group – Good Q1 Earnings on Slight Sales Increase

Posted on 8 May 2024 by Ken Zino

The BMW Group said today in Munich that during Q1 of 2024 it delivered 594,533 automobiles. This means, the company posted a tiny increase of 1.1% compared to the previous year. Throughout the three-month period, the major automotive markets largely showed an upward trend based on pent up demand and increased sales in the mid-price volume segment. (AutoInformed on: Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump)

“The past nine quarters underline BMW’s continuity and reliability: As planned, we are dynamically expanding the share of electric vehicles while maintaining our high level of profitability. Some call this transformation — for us, it is continuous progress,” said the Chairman of the Board of Management of BMW AG, Oliver Zipse. Continue reading →

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Greenhouse Gases – EPA Final Rule for Oil and Gas Sector

Posted on 6 May 2024 by Ken Zino

The U.S. Environmental Protection Agency today issued a final rule to strengthen, expand, and update methane emissions reporting requirements for petroleum and natural gas systems under EPA’s Greenhouse Gas Reporting Program (GHGRP).* There are already significant legal challenges on both sides of the issue. This will likely add to the list of entities, lobbying groups and companies suing EPA.

“As we implement the historic climate programs under President Biden’s Inflation Reduction Act, EPA is applying the latest tools, cutting edge technology, and expertise to track and measure methane emissions from the oil and gas industry,” said EPA Administrator Michael S. Regan. “Together, a combination of strong standards, good monitoring and reporting, and historic investments to cut methane pollution will ensure the U.S. leads in the global transition to a clean energy economy,” Regan said. Continue reading →

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