March Western European Passenger Vehicle Sales Up. But…

Posted on 10 April 2024 by Ken Zino
Ken Zino of AutoInformed.com on March Western European Passenger Vehicle Sales Up. But…

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The Western Europe passenger vehicle (PV) selling rate slipped backwards in March, to 11.3 million units/year, with 1.3 million vehicle registrations, according to the respected GlobalData* consultancy. This is 2.5% below March of 2023. However, year-to-date (YTD) sales increased by 4.7%.

“There was strong growth for the first three months in France, Italy, and the UK, along with mostly positive results in other countries. Thanks to a more supportive supply environment, the Western Europe PV market is forecast to surpass 12 million units in 2024, which would be the strongest annual result since the COVID-19 pandemic,” according to GlobalData’s European Light Vehicle Sales Forecasting Team.
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EPA – Final Rule on Chemical Plant Cancer Causing Toxins

Posted on 9 April 2024 by Ken Zino

The U.S. Environmental Protection Agency today issued a final rule that will significantly reduce toxic air pollution from chemical plants, including ethylene oxide (EtO) and chloroprene. It eliminates more than 6200 tons of toxic air pollution each year, markedly reducing the number of people with elevated cancer risk due to air pollution in communities surrounding plants covered by the rule. Once implemented, the rule will reduce both EtO and chloroprene emissions from covered processes and equipment by nearly 80%. A requirement for these facilities to conduct fence-line monitoring for key toxic chemicals is included. EPA will make the data publicly available to inform and safeguard nearby communities.* In addition, the rule will reduce smog-forming volatile organic compounds by 23,700 tons a year.

“President Biden believes every community in this country deserves to breathe clean air. That’s why I took the Journey to Justice tour to communities like St. John the Baptist Parish, where residents have borne the brunt of toxic air for far too long,” said EPA Administrator Michael S. Regan. “We promised to listen to folks that are suffering from pollution and act to protect them. Today we deliver on that promise with strong final standards to slash pollution, reduce cancer risk, and ensure cleaner air for nearby communities.” Continue reading →

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More US Jobs Coming from Chips and Science Act

Posted on 8 April 2024 by Ken Zino

The U.S. Department of Commerce and TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited* (TSMC), today said they have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.6 billion in direct funding under the CHIPS and Science Act. This proposed funding would support TSMC’s investment of more than $65 billion in three greenfield leading-edge fabs (semi-conductor babble for where they are made, aka factories) in Phoenix, Arizona, which will manufacture the world’s most advanced semiconductors.**

“Semiconductors – those tiny chips smaller than the tip of your finger – power everything from smartphones to cars to satellites and weapons systems. America invented these chips, but over time, we went from producing nearly 40% of the world’s capacity to close to 10%, and none of the most advanced chips, exposing us to significant economic and national security vulnerabilities. I was determined to turn that around, and thanks to my CHIPS and Science Act – a key part of my Investing in America agenda – semiconductor manufacturing and jobs are making a comeback,” said President Joe Biden. “TSMC’s renewed commitment to the United States, and its investment in Arizona represent a broader story for semiconductor manufacturing that’s made in America and with the strong support of America’s leading technology firms to build the products we rely on every day.” Continue reading →

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SEC Gets Final Judgment Against Volkswagen on Dieselgate

Posted on 5 April 2024 by Ken Zino

The U.S. Securities and Exchange Commission said today that it obtained final judgment by consent against defendant Volkswagen Group of America Finance, LLC (“VWGOAF”),* which the SEC had charged in 2019 with making false and misleading statements in connection with its 2014 and 2015 offerings of billions of dollars of corporate bonds.

The SEC’s complaint, filed on 14 March 2019, alleged,** among other things, that from April 2014 to May 2015, VWGOAF issued more than $8 billion in bonds at a time when senior VW executives knew that more than 500,000 of their vehicles in the U.S. grossly exceeded legal vehicle emissions limits, exposing the company to massive financial and reputational harm. The complaint said that VWGOAF made false and misleading statements to investors and underwriters about vehicle quality, environmental compliance, and VW’s financial standing. Continue reading →

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Mercedes-Benz Alabama Workers Ask NLRB for Union Vote

Posted on 5 April 2024 by Ken Zino
Ken Zino of AutoInformed.com on Mercedes-Benz Alabama Workers Ask NLRB for Union Vote

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The UAW said today that a super-majority of Mercedes-Benz workers have filed a petition with the National Labor Relations Board (NLRB) for a vote to join the progressive union help create and sustain the American middle class. With more than 5000 workers at the Mercedes plant outside Tuscaloosa, Alabama, this is the second group of Southern autoworkers to call for a union election. They want it before May or in less than three weeks. Volkswagen workers in Chattanooga, Tenn., filed their election in mid-March and will have their vote to join the UAW April 17-19. Mercedes management is running an aggressive anti-union campaign, the UAW maintains.*

“We are standing up for every worker in Alabama. At Mercedes, at Hyundai and at hundreds of other companies, Alabama workers have made billions of dollars for executives and shareholders, but we haven’t gotten our fair share. We’re going to turn things around with this vote. We’re going to end the Alabama discount,” said Jeremy Kimbrell, a measurement machine operator at Mercedes. Continue reading →

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Ford Stumbles on EVs – Two Year Delays on Three-Row Entries

Posted on 4 April 2024 by Ken Zino

Ford Motor Company (NYSE: F) said today it is delaying the launch of upcoming electric vehicles at its Oakville, Ontario, assembly plant. Its all-new three-row electric vehicles due in 2025 will not appear until 2027. Employees at Oakville will be laid off. Less than one year ago Ford said it was investing C$1.8 billion in its Oakville Assembly Complex to make it into a high-volume hub of electric vehicle manufacturing in Canada. The property, renamed Oakville Electric Vehicle Complex, was supposed to retool and modernize during Q2 of 2024 to prepare for production of next-generation EVs. At the time, Ford was the first full-line automaker to announced plans to produce passenger EVs in Canada for the North American market. Oakville currently builds the Ford Edge and Lincoln Nautilus and was scheduled to build EV battery packs too. The conversion plan included large Canadian taxpayer subsidies. Ford Edge production at Oakville is scheduled to end in approximately one month. (AutoInformed on: Ford Oakville Assembly in Canada to Convert to EVs)

“Unifor is extremely disappointed by the company’s decision. Our members have done nothing but build best-in-class vehicles for Ford Motor and they deserve certainty in the company’s future production plans,” said Unifor national president Lana Payne. “I want to be very clear here. Our members can be assured that we will push the company to explore every single possible opportunity to lessen the impact of this decision on them and their families.” Given the magnitude of the delay Unifor has requested a meeting with Ford to be held as soon as possible to discuss job and income security measures for workers.” Unifor was informed of the revised timeline during a meeting with Ford executives earlier this week. Continue reading →

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US Auto Sales Hitting Streak – 20 Months of Growth in March

Posted on 3 April 2024 by Ken Zino
Ken Zino of AutoInformed.com on US Auto Sales Hitting Streak – 20 Months of Growth in March

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US Light Vehicle (LV) sales grew 5.5% year-on-year (YoY) in March to 1.44 million units, according to an analysis just released by the respected GlobalData consultancy.* This means that under the Biden Administration the economy had another month of YoY growth – a streak that now extends to 20 consecutive months. The daily selling rate was estimated at 53,200 units/day in March, compared to 49,900 units/day in February.

“March had a number of potential curveballs, including several OEMs looking to hit targets at the end of their financial year, steep discounting on certain models – particularly Electric Vehicles (EVs) – and pent-up demand from the fleet segment. In the end, sales were decent, but could have been even better. We are continuing to see signs that the segments that are performing well are generally those at the more affordable end of the spectrum, while costlier models are starting to see an easing in demand,” said David Oakley, Manager, Americas Sales Forecasts at GlobalData. Continue reading →

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UAW Files Anti-Labor Charges in Germany Against Mercedes

Posted on 3 April 2024 by Ken Zino

The UAW filed charges today against Mercedes-Benz Group AG for violating a new German law on global supply chain practices. The law sets standards for global supply chains that German-based firms must follow. It  prohibits companies from disregarding workers’ rights to form trade unions. Workers at Mercedes-Benz’s assembly and battery plant in Vance, Alabama are organizing to join the UAW and have faced fierce backlash from company management in the UAW’s view. The UAW’s charges are significant as a test of the act, which took effect on 1 January 2023. It applies to German-headquartered firms with more than 1000 employees. The UAW is the first American union to file charges under the act, also known by its German acronym LkSG.

“Mercedes-Benz’s aggressive anti-union campaign against U.S. autoworkers in Alabama is a clear human rights violation under the German Act on Corporate Due Diligence Obligations in Supply Chains. If found guilty, Mercedes-Benz faces billions in penalties, including significant fines and bans on government contracts,” the UAW said. Every Mercedes-Benz plant in the world is unionized, except the company’s two plants in the United States.
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Baltimore Bridge – Japanese, Korean, German Makers at Risk

Posted on 2 April 2024 by Ken Zino
Ken Zino of AutoInformed.com on Baltimore Bridge Collapse - Japanese, Korean, German Makers at Risk

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The US Army Corps of Engineers is now removing wreckage, and looking at how to best remove a Singapore ship that hit Baltimore’s Francis Scott Key bridge last week to reopen the port to two-way traffic. Several major global automakers, their workers and customers are potentially affected. The Port of Baltimore is the busiest US port for automotive shipments, with more 847,000 cars and light trucks processed in 2023. (AutoInformed on March US Vehicle Sales Up. Record Q1 Consumer Spending!)

“Japan, Korea and Germany are the main origins for vehicles entering the US market, so brands with heavy production concentrations in those locations have the potential to be impacted more significantly, especially those in Europe,” said the GlobalData* consultancy. “It is no surprise that Hyundai and Toyota were the top importers, though General Motors (GM) was the third largest, with vehicles coming from Korea and China. VW Group is among the top 5 importers, while BMW, Mercedes-Benz, Volvo and Stellantis are also exposed to potential disruption.” Continue reading →

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Volkswagen Recalls Audi E-Tron models for Battery Fires

Posted on 1 April 2024 by Ken Zino

Volkswagen Group is recalling various 2022-2024 Audi E-Tron GT and the RS versions because the high-voltage battery may undergo a short circuit without warning and cause a fire. This is the result of the same safety defect that caused the recall of Porsche Taycan hybrids, according to documents released today by the National Highway Traffic Safety Administration. (See AutoInformed on: Porsche Recalls Taycan Hybrids for Battery Fires and Audi E-Tron and Porsche Taycan EVs Recalled for Battery Fires).

The Audi E-Tron GT is a substantially similar vehicle and uses the same HV battery modules from LG energy Solution in Wrocław, Poland. As of 22 March 2024 Audi is not aware of any warranty claims, injuries, crashes or fires due to this safety defect. Continue reading →

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Porsche Recalls Taycan Hybrids for Battery Fires

Posted on 1 April 2024 by Ken Zino

Porsche Cars North America is recalling various Taycan models from the 2020 through the 2023 model years because the high-voltage battery may undergo a short circuit without warning within the battery modules of its first four-door electrified SUV.*

According to the required safety defect filing released by the National Highway Traffic Safety Administration today, the hybrid battery modules were produced by LG energy Solution in Wrocław, Poland. Continue reading →

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Heavy-Duty Emissions Standards – Missed Opportunity?

Posted on 29 March 2024 by Ken Zino
Ken Zino of AutoInformed.com on Heavy-Duty Emissions Standards - Missed Opportunity?

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The U.S. Environmental Protection Agency today announced final national greenhouse gas pollution standards for heavy-duty vehicles covering model years 2027 through 2032 – the ‘Greenhouse Gas Emissions Standards for Heavy-Duty Vehicles – Phase 3.’ Heavy-duty vehicles account for 25% of all greenhouse gas emissions from the transportation sector, which is itself the single largest source of greenhouse gas emissions in the United States. It is not without its critics – not the usual anti-environment Republican party, but more rational, reasonable and thoughtful organizations that AutoInformed covers in its pursuit of intelligent life on earth. (AutoInformed.com on Greenhouse Gas Standards for Heavy-Duty Vehicles Set)

“While many states already have policies ensuring more rapid adoption of electric trucks than these standards envision, the rules will help ramp up adoption nationwide. Residents living near trucking corridors in states that have not acted will particularly benefit from reduced pollution thanks to these standards,” said the American Council for an Energy-Efficient Economy (ACEEE)* Continue reading →

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Greenhouse Gas Standards for Heavy-Duty Vehicles Set

Posted on 29 March 2024 by Ken Zino

The U.S. Environmental Protection Agency today announced final national greenhouse gas pollution standards for heavy-duty vehicles covering model years 2027 through 2032 – the “Greenhouse Gas* Emissions Standards for Heavy-Duty Vehicles – Phase 3.” Heavy-duty vehicles account for 25% of all greenhouse gas emissions from the transportation sector, which is itself the single largest source of greenhouse gas emissions in the United States. Under these new standards, the heavy-duty industry is expected to realize annualized savings of $3.5 billion compared to annualized costs of about $1.1 billion from 2027 through 2055.**

“In finalizing these emissions standards for heavy-duty vehicles like trucks and buses, EPA is significantly cutting pollution from the hardest working vehicles on the road,” said EPA Administrator Michael S. Regan. “Building on our recently finalized rule for light- and medium-duty vehicles, EPA’s strong and durable vehicle standards respond to the urgency of the climate crisis by making deep cuts in emissions from the transportation sector.” Continue reading →

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Bidenomics – Fiscal Policy Increased Car Sales During 2020

Posted on 28 March 2024 by Ken Zino

“In the months following the outbreak of COVID-19, Economic Impact Payments and the Paycheck Protection Program provided fiscal support to households and businesses,” said the Hutchins Center on Fiscal and Monetary Policy at Brookings this week, citing a new research paper on Economic Incentive Programs (EIPs) during the early years of the Biden Administration economic recovery.

Using data on motor vehicle sales and the Consumer Expenditure Survey, Jack Dunbar of the University of Pennsylvania and co-authors* find that these policies boosted new car sales by 12% in 2020, or 1.75 million cars. They also find that the increase in sales caused by the fiscal programs accounted for 70% of the declines in inventory through 2021. The stimulus-induced demand, which coincided with supply constraints that reduced inventories, accounted for 20% of the increase in vehicle prices compared to pre-pandemic pricing. Continue reading →

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Auto Industry Continues to Rebound from Pandemic Lows

Posted on 28 March 2024 by Ken Zino

Cox Automotive* experts on a media call today said U.S. new-vehicle sales in Q1 will increase 5.6% year-over -year (YoY) and reach 3.8 million units. The YoY increase in Q1 sales implies that the new-vehicle market in the U.S. continues to recover slowly from the 10-year low – 13.8 million total sales – recorded in 2022. AutoInformed notes that the Biden Administration recovery continues despite the Federal Reserve’s efforts to harm the economy by keeping interest rates unduly high. Sales volume in March, when announced early in April, is expected to show gains over March 2023 and 2022 as the market continues to expand. The forecast of 1.45 million sales in March would be an increase of 4.5% YoY and close to the 10-year average for the month, historically one of the strongest sales months in a given year. (Read AutoInformed.com on March US Vehicle Sales Up. Record Q1 Consumer Spending!; Cox Automotive – US Vehicle Market Off To Slow Start, But…)

“We have a slowing economy with high interest rates,” said Jonathan Smoke,** Chief Economist at Cox Automotive. “We are seeing the slowing consumer spending. The conundrum is in the details as some metrics like inflation have moved down in the short term, indicating a resilient economy, possibly tipping into reheating. However, other data like retail sales and consumer spending suggest inflation has finally caused consumers to pause on spending. Continue reading →

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