Toyota to Restart Pixis Production and Shipments

Posted on 9 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Toyota to Restart Pixis Production and Shipments

Pixis truck.

Toyota said today that Daihatsu has reported to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) the processes it has taken to prevent a recurrence of the irregularities that resulted in false certifications of Daihatsu made vehicles. Toyota will resume production on 26 February and shipments of the Pixis Epoch and Pixis Truck and Pixis Van, which are outsourced to Daihatsu Motor Company (AutoInformed.com: Group Troubles Move Forward Akio Toyoda’s Vision Speech; Toyota, Daihatsu Form Emerging Market Compact Car Company)

“Toyota will provide full support to ensure that the various measures are implemented. We will resume production of the models to be released for shipment by MLIT as soon as they are ready, while carefully communicating with our suppliers and other related parties,” Toyota said. Continue reading →

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Stellantis Increases January European Sales and Market Share

Posted on 8 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Increases January European Sales and Market Share

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Stellantis (NYSE: STLA) said today that in the EU29 market it posted a 7.6% increase in passenger car and commercial vehicle volumes (PC+CV) year-on-year, corresponding to a market share of 19.7%, up 0.9 percentage points compared to one year ago.

“Stellantis’ sales growth across key markets in January reflects our collective dedication to innovation and customer satisfaction,” said Uwe Hochgeschurtz, Stellantis Chief Operating Officer, Enlarged Europe. “This performance, both in volumes and market share across all energies and segments, reaffirms our position as the unrivaled challenger for the #1 spot in Europe. Continue reading →

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European Passenger Car Sales Soft in January 2024

Posted on 8 February 2024 by Ken Zino

The Western Europe passenger car selling rate fell slightly to 12 million units a year in January, according to numbers just released by the respected GlobalData* consultancy, at 901,000 vehicle registrations. Year-over-year (YoY) January grew 10.7% with strong growth in Germany and other major West European countries. However, relative to pre-pandemic January 2019, the  passenger vehicle (PV) market is down almost 19%.

“With supply having been a key limiting factor over recent years, 2024 will see the focus return to the health of underlying demand. In this regard, consumers face headwinds such as high interest rates, inflation, and elevated vehicle pricing. However, the latter should ease as a function of greater vehicle supply and further volume recovery is baked into the 2024 outlook. Risks remains, noting the recent Red Sea attacks hitting freight costs, which only increases pressure on the manufacturing cost base,” the GlobalData European Light Vehicle Sales Forecasting Team said. Continue reading →

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J.D. Power – Vehicle Dependability Down Again

Posted on 8 February 2024 by Ken Zino

Owners are experiencing lower levels of vehicle dependability after three years, according to the J.D. Power 2024 U.S. Vehicle Dependability StudySM released today. The large number of tech-ache problems owners face indicate a decline in long-term vehicle dependability, with increased levels of problems reported for nearly two-thirds of brands in the study. The industry average has increased 4 problems per 100 vehicles (PP100) year-over-year to 190 PP100 from 2023. The rate at which problems have increased between 90 days and three years of ownership has increased to 17%, up 5 percentage points from 12% in 2023.

“Historically, VDS model results mirror the results of the respective model year in the J.D. Power Initial Quality Study, so a deterioration of vehicle dependability is unusual,” said Frank Hanley, senior director of auto benchmarking at J.D. Power. Continue reading →

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GM Creates New VP of Batteries Position

Posted on 8 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on GM Creates New VP of Batteries Position

Kurt Kelly.

General Motors (NYSE: GM) said today that it has hired Kurt Kelty, a battery expert and former Tesla executive, to be vice president of Batteries, reporting to GM President Mark Reuss. Kelty in a new position at GM will be charged with GM’s battery cell strategy and what it is calling an “end-to-end approach.” This will include the use of raw materials, research, developing and investing in new technology, commercialization of cells and packs, and end of life opportunities.

“The foundation that GM has established coupled with Kurt’s exceptional battery expertise in leading battery chemistry development, establishing partnerships, building out supply chains and partnering closely with teams that have developed leading battery systems will help us achieve our electrification goals and position GM as a leader in EV technology,” said Reuss. Continue reading →

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Ford Motor Posts 2023 Net Income of $4.3 Billion

Posted on 7 February 2024 by Ken Zino

Ford Motor (NYSE: F) posted fourth-quarter 2023 revenue of $46 billion, an increase of 4% from the same period a year ago on comparable vehicle volumes. However, a net loss of $526 million in the period was attributable to a $1.7 billion pretax, non-cash accounting loss related to the re-measurement of pension and other post-retirement employee benefits plans. Adjusted earnings before interest and taxes, or EBIT, totaled $1.1 billion. For full-year 2023, revenue was up 11% to $176 billion. Net income improved year-over-year to $4.3 billion; adjusted EBIT of $10.4 billion was essentially flat year-over-year and at the high end of guidance that Ford provided following ratification of its new contracts with the UAW in the US and Unifor in Canada.

CFO John Lawler said that Ford’s robust cash flow and disciplined capital allocation enable vital investments in Ford+ while also returning value to shareholders – targeting distributions of 40% to 50% of adjusted free cash flow. Ford declared a first-quarter regular dividend of 15 cents per share and a supplemental dividend of 18 cents per share. The dividends are payable March 1 to shareholders of record at the close of business on Feb. 16. Lawler said that Ford “will improve capital efficiency by both selectively reducing investments and raising the bar on expected returns for initiatives that the company greenlights.” Continue reading →

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Cox Automotive – US Vehicle Market Off To Slow Start, But…

Posted on 6 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Cox Automotive - US Vehicle Market Off To Slow Start, But…

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Chief Economist of Cox Automotive* Jonathan Smoke said this morning that the US auto market is off to a slow start in 2024. However,  the two-handed economist said that “We are seeing more positive momentum in the used-car market and in fixed operations. Tax refunds are just now starting to flow, and that should bring the strongest used-car market performance for the year.”

“We’re only halfway through January with the credit card spending data. But so far it appears that the consumer is holding up with spending growth stable relative to the level of spending growth we had at the end of last year. That was slower than we had seen previously in 2023. But it is enough. To produce growth of roughly 4% in nominal terms in consumer spending, and that’s enough to keep the economy moving forward,” Smoke said.** Continue reading →

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Annals of Marketing – RIP MINI Clubman

Posted on 6 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Annals of Marketing - RIP MINI Clubman

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The last MINI Clubman rolled off the production line at MINI Plant Oxford today 55 years after the model’s debut with rear swinging doors in 1969. Since its introduction more than 1.1 million MINI Clubman models have been built, with half of these made at MINI Plant Oxford. Exported to more than 50 countries, the Clubman darts around the globe if they haven’t rusted into premature oblivion. During 2023, the Clubman was pushed with the launch of The Final Edition. It had an edition-specific Shimmer Copper radiator grille and side scuttles, 18” Final Edition 2-tone alloy wheels and exclusive ‘Final Edition’ lettering on the rear. Limited to 1969 units, the Final Edition noted the launch year of the original.

“We are incredibly proud to have built the MINI Clubman at Plants Oxford and Swindon over the last 18 years for customers all over the world,” said Dr. Markus Grüneisl, CEO of Plants Oxford and Swindon, said of the British brand now owned by German BMW. “With its departure, we look ahead to welcoming members of the new MINI family to our Oxford and Swindon lines, including a new convertible model which we will start to produce at the end of this year.” Continue reading →

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Toyota Motor Q3 Profit Soars to ¥4.24 Trillion

Posted on 6 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Toyota Motor Q3 Profit Soars to ¥4.24 Trillion,

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Toyota Motor (7203.T) today posted strong Q3 Japanese FY 2024 operating results (ending 31 Dec 2023) with net income of ¥4.24 trillion (+¥2.14 trillion YoY or ~+75% year-over-year) , Toyota also its full-year forecast for the year ending in 31 March to an operating income of ¥4.90 trillion, a ~9% increase. The results were bolstered by strong sales in North America, its largest market by volume. Sales volume increased in all regions to a total of ~7.3 million vehicles, especially for HEVs (+37.9% YoY at ~2.65 million).

“The increase in profits for fiscal year 2024 has been mainly due to the new car business, and our ‘transformation into a mobility company’ initiative is still a work in progress. We aim to further strengthen our value chain by leveraging our strength (asset) of having 100 million cars owned by our customers,” Toyota said. Continue reading →

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Kia Recalls Niro EV and EV6 Models for Driveshaft Failures

Posted on 5 February 2024 by Ken Zino

Kia America, Inc. (Kia) is recalling 2023-2024 Niro EV and 2023 EV6 vehicles because one of the drive shafts may have been improperly heat-treated, allowing it to break under load and resulting in a loss of drive power.

Due to a manufacturing error by the supplier, Hyundai WIA, the left hand drive shaft in the subject Niro EV vehicles and rear inner drive shaft in the subject EV6 vehicles may have been improperly heat-treated. An improperly heat-treated drive shaft may break under load resulting in a sudden, unexpected loss of motive power, thereby increasing the risk of a crash. Continue reading →

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Tesla Recalls 2.2 Million Vehicles Covering 13 Model Years

Posted on 5 February 2024 by Ken Zino
AutoInformed.com on Tesla Model 3 recalls

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Tesla is recalling 2012-2023 Model S, 2016-2024 Model X, 2017-2023 Model 3, 2019-2024 Model Y, and 2024 Cybertruck vehicles. An incorrect font size is displayed on the instrument panel for the Brake, Park, and Anti-lock Brake System (ABS) warning lights. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard number 105, “Hydraulic and Electric Brake Systems” and 135, “Light Vehicle Brake Systems.”

A visual warning indicator whose letter font size is smaller than 3.2 mm (1/8 inch), as prescribed in FMVSS Nos. 105 (105 – Hydraulic and electric brake systems) and 135 (135 – Light vehicle brake systems), could reduce the driver’s detection of it when illuminated, increasing the risk of a collision. Continue reading →

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Chiyoda, Toyota to Develop Large-Scale Hydrogen Electrolysis

Posted on 5 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Chiyoda, Toyota to Develop Large-Scale Hydrogen Electrolysis

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Chiyoda Corporation and Toyota Motor Corporation today said that they have agreed to jointly develop a large-scale hydrogen electrolysis system and start a strategic partnership. They have signed a basic agreement on cooperation. This awakened Demonstration Project was proposed to and adopted by the New Energy and Industrial Technology Development Organization (NEDO)* as one of the projects for the “Development of Technologies for Realizing a Hydrogen Society / Development of Technologies for Regional Hydrogen Utilization.”

In short, Japanese industries are increasingly embracing the switch to an enlightened policy of developing a carbon-fuel free society. The goal is to contribute to achieving the Japanese government targets for the introduction of electrolysis equipment both in Japan and overseas as part of the Basic Strategy on Hydrogen formulated by the government. [1] Continue reading →

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Air Travel Consumer Report Shows Improvements in 2023

Posted on 2 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on Air Travel Consumer Report Shows Improvements in 2023

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The US Department of Transportation (DOT) today released its Air Travel Consumer Report (ATCR)* on airline operational data compiled for the month of November 2023 for on-time performance, mishandled baggage, and mishandled wheelchairs and scooters. During 2023, DOT issued the largest fines on airlines in the history of the Office of Aviation Consumer Protection while helping return more than $3 billion in refunds to travelers since the start of the pandemic.

During the first 11 months of 2023, 1.4% of flights were canceled, far below the 2.5% cancellation rate for the first 11 months of 2022 and the 2.0% cancellation rate for first 11 months of pre-pandemic 2019. DOT uses the data from the ATCR, consumer complaints, and other information it secures from the airlines to inform its enforcement activities and the adequacy of existing rules.** Continue reading →

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All 2025 GM Vehicles Get OnStar at No Cost

Posted on 2 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on All 2025 GM Vehicles Get OnStar at No Cost

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General Motors (NYSE: GM) said today that it is making some of OnStar’s technology accessible to retail and fleet customers. Starting with the 2025 model year, every customer who buys a new Chevrolet, Buick, GMC, or Cadillac vehicle will get Automatic Crash Response, remote vehicle commands, and navigation and voice assistance systems at no additional cost above the vehicle purchase price.

“By standardizing some of our most appealing OnStar features, we can deliver more technology and value at every price point, helping ensure our vehicles and customers stay connected for the long term,” said Marissa West, president, GM North America. “With this move, every new vehicle in our lineup will include a compelling set of safety and connected services that is distinct to GM thanks to nearly 30 years of OnStar experience and innovation.” Continue reading →

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US Transportation Sector January Unemployment Flat

Posted on 2 February 2024 by Ken Zino
Ken Zino of AutoInformed.com on US Transportation Sector January Unemployment Flat

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The January 2024 US transportation sector unemployment* at 4.7% was the same as the January 2023 level (4.7%) and above the pre-pandemic January 2019 level of 4.0%, the Bureau of Labor Statistics (BLS) said today. However, the economy remains strong under the Biden Administration when compared with the job destroying Trump mis-administration.

Unemployment in the transportation sector was higher than overall unemployment. BLS reports that the US unemployment rate, not seasonally adjusted, in January 2024 was 4.1% or 0.6 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in January 2024 was 3.7%, as the Federal reserve continues its indefensible ideological, anti-data tight money policy (the highest interest rates in two decades!) with little or lately no inflation in AutoInformed’s view. Continue reading →

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