US Light Vehicle Sales up Again in November 2023

Posted on 4 December 2023 by Ken Zino
Ken Zino of AutoInformed.com on US Light Vehicle Sales up Again in November 2023

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US Light Vehicle (LV) sales grew by 8.5% year-on-year (YoY) in November, to 1.22 million units, according to preliminary estimates from the respected consultancy GlobalData.* The daily selling rate was estimated at 48,900 units/day in November, compared to 48,200 units/day in October. Despite the uptick in the daily selling rate, it appears that November sales were slightly disappointing, with Thanksgiving and Black Friday sales not delivering quite as robust an acceleration as hoped. 

“With the UAW strikes over, the industry could focus on more typical matters of LV demand and the extent to which Thanksgiving sales would spur the market, against the backdrop of many households feeling squeezed and interest rates remaining high. In the end, sales grew by 8.5% YoY, but there was a feeling that results could have been better. Continue reading →

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Annals of Marketing – Honda Offers EV at Hybrid Price

Posted on 1 December 2023 by Ken Zino
Ken Zino of AutoInformed.com on Annals of Marketing - Honda Offers EV at Hybrid Price

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Honda UK said today that it is helping people to ‘Go electric’ by offering eNy1 Electric Elegance for the same monthly payment* as HR-V Hybrid Advance. The all-new eNy1 is available with 5.9% APR and a £8000 deposit. For £346 per month, customers can choose between eNy1 Electric Elegance or HR-V Hybrid Advance for the exact same monthly payment.* The offer is valid from 1 December 2023 until 31 January 2024. It’s the latest example of how the proposition that EVs are too expensive ignores marketplace competition combined with automaker advantages of scale and decades of innovation in manufacturing, design and cost cutting will relentlessly and inevitably make EVs desirable.

“We want to make it easier for consumers to make the transition to electric vehicles and we know that the price point of EVs is one of the main concerns people have,” said Rebecca Adamson, Head of Automobile at Honda UK. “We have decided to make our eNy1 Electric Elegance the same monthly payment as our HR-V Hybrid Advance equivalent, allowing customers to choose the powertrain that suits them best.” Continue reading →

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The US’s first public EV-charging Roadway Unveiled in Detroit

Posted on 30 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on The US’s first public EV-charging Roadway Unveiled in Detroit

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Detroit Deputy Mayor Todd Bettison, Michigan Department of Transportation (MDOT) Director Brad Wieferich and other partners yesterday celebrated a milestone in the future of mobility and electrification  at the Michigan Central* innovation district in Detroit as crews have finished installing the nation’s first wireless-charging public roadway.

Using technology from Israeli company Electreon,** 14th Street is now equipped with inductive-charging coils between Marantette and Dalzelle streets that will charge electric vehicles (EVs) equipped with Electreon receivers as they drive on the road. The road will be used to test and improve this wireless-charging technology in a real-world environment before making it available to the public in the next few years. Continue reading →

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Briggs and Stratton Settles With CARB For Off-Road Emissions

Posted on 30 November 2023 by Ken Zino

The California Air Resources Board has reached a settlement agreement with Briggs and Stratton of Milwaukee, WI., a significant producer of engines for outdoor power equipment, for $117,314.* This was for the company’s violations of the Small Off-Road Engine (SORE) Regulation. The regulation limits emissions of oxides of nitrogen and hydrocarbons from spark-ignited, small off-road engines, including those found in landscape equipment, small power tools, and portable generators.

“Small off-road engine manufacturers that skirt California’s clean air regulations will be held accountable to protect our air and public health,” said CARB Executive Officer Dr. Steven Cliff. “These engines can be a significant culprit of evaporative emissions, and due to the sheer number of them in the state, it is critical that they meet and comply with established standards. Going forward, zero-emissions equipment will make small-engine air pollution a thing of the past.” Continue reading →

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Follow The Leader – Ford Reinstates Earnings Guidance

Posted on 30 November 2023 by Ken Zino

Ford (NYSE: F) has a new, post-UAW-strike outlook for full-year 2023 operating results it said this morning after GM provided an unexpectedly strong one yesterday. Ford withdrew 2023 financial guidance in late October during the UAW strike of some notably profitable US operations. Ironically, the new forecast by Ford CFO John Lawler was given at the Barclays Global Automotive and Mobility Tech Conference, following a presentation by Paul Jacobson, GM EVP and Chief Financial Officer. Yesterday GM increased its 2024 dividend while minimizing the effect of the UAW strike tallied at $1.1 billion. GM said full-year net income was forecast between $9.1 billion and $9.7 billion, down from $9.3 billion and $10.7 billion.

Ford now projects full-year adjusted EBIT of $10.0 billion to $10.5 billion, and adjusted free cash flow of between $5.0 billion and $5.5 billion. Both are non-GAAP financial measures Although affected U.S. operations have been restarted, guidance reflects effects of strike-related manufacturing disruptions on wholesales and revenue. Ford was silent on the dividend. Continue reading →

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GM CFO – More Spending Efficiencies on Way for ICE and EVs

Posted on 30 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on GM CFO – More Spending Efficiencies on Way for ICE and EVs

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Paul Jacobson, GM EVP and Chief Financial Officer said this morning in New York that the aim is to  continue to drive GM’s strong cash flow performance while increasing the margins and the returns to investors while cutting capital spending. (NYSE: GM) Speaking at the Barclays Global Automotive and Mobility Tech Conference, Jacobson said, “we remain absolutely committed to driving to the 8% to 10% margin consistently that we’ve said in North America through this transition (to electric vehicles).”

The conference came one day after GM stunned analysts, Ford Motor, and media by announcing a $10 Billion Accelerated Share Repurchase Program (ASR)* and 33% dividend increase to 12 cents per quarter starting in 2024. GM continues to generate huge cash flows and invest in the business in the face of the retro-think of stock mis-analysts. GM has also canceled the $6.0 billion revolving credit facility it entered in October and plans to enter into a new 364-day $3.0 billion committed credit facility with the banks executing the ASR acting as lenders. Ford will address its financial outlook today. GM stock increased ~9% after the announcement. Continue reading →

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EV Pickups Least Reliable Says Consumer Reports at APA

Posted on 29 November 2023 by Ken Zino

New Electric vehicles (EVs) have on average 79% more problems than (ICE) vehicles with internal combustion engines(ICE). Plug-in hybrid electric vehicles (PHEV) are even worse with an average of 146% more problems, according to  the Annual Auto Reliability survey* from Consumer Reports (CR). Electric cars, electric SUVs, and electric pickups all rank among the least-reliable vehicle categories. Hybrids, in contrast, continue to be a bright spot. They experience 26% fewer problems than ICE vehicles on average. CR’s survey findings were announced today at an online news conference in collaboration with the Detroit-based Automotive Press Association.** Full-sized pickup trucks remain near the bottom of CR’s brand ranking, but aren’t the least reliable category. Mid-sized and electric pickups are worse for reliability.

“EVs are still in their relative infancy as mainstream vehicles, so it’s really not surprising that manufacturers, by and large, are still working out the kinks,” said Jake Fisher, senior director of auto testing at Consumer Reports. “That said, we are seeing signs of movement in the right direction. And as our data has consistently shown, reliability-minded consumers would be best served by forgoing brand new vehicles in their first model year.” Continue reading →

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GM Takes UAW Contract Costs in Stride. Ups 2024 Dividend

Posted on 29 November 2023 by Ken Zino

General Motors Co. (NYSE: GM) today basically shrugged off months of anti-American labor speculation and media commentary while announcing a $10 Billion Accelerated Share Repurchase Program (ASR)* and 33% dividend increase to 12 cent per quarter starting in 2024. GM continues to generate huge cash flows and invest in the business in the face of the retro-think of stock mis-analysts. GM has also canceled the $6.0 billion revolving credit facility it entered in October and plans to enter into a new 364-day $3.0 billion committed credit facility with the banks executing the ASR acting as lenders.

“We are finalizing a 2024 budget that will fully offset the incremental costs of our new labor agreements and the long-term plan we are executing includes reducing the capital intensity of the business, developing products even more efficiently, and further reducing our fixed and variable costs,” said Mary Barra, GM Chair and CEO. Continue reading →

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WTRAndretti Names Final Drivers for 2024 IMSA Season

Posted on 28 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on WTRAndretti Names Final Drivers for 2024 IMSA Season

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Wayne Taylor Racing with Andretti (WTRAndretti*) announced today that Graham Doyle and Ashton Harrison will join Kyle Marcelli and Danny Formal in their No. 45 WTRAndretti Lamborghini Huracán GT3 EVO2 for the Rolex 24 At Daytona. (AutoInformed: Wayne Taylor Racing, Andretti Autosport to Run Two IMSA Cars*)

“I am excited to represent Lamborghini in GTD this coming season. I am excited with our driver line up,” said Wayne Taylor, Team Principal, Wayne Taylor Racing with Andretti. “I think Graham Doyle and Ashton Harrison will really be good at the Rolex and then Graham doing all the endurance races. Graham is still very young, but what he achieved this year in LST made it a no brainer to hire him. Ashton will be a great fourth driver. She is an important part of our WTRAndretti Global program.” Continue reading →

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Connected Technicians at Nissan Speed Repairs

Posted on 28 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Connected Technicians at Nissan Speed Repairs

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Nissan said today that Nissan dealers can speed up service with LenZ℠ wearable tech. The LenZ℠ program includes hands-free wearable technology that enables dealer technicians to communicate in real time with the Nissan TECH LINE Call Center, located near the Nissan Smyrna Manufacturing Plant in Smyrna, TN.

“TECH LINE did a great job of walking me through the process. They made sure we went through it together and everything went smoothly,” said Skyler Petrille, Nissan master technician at Mossy Nissan El Cajon just outside San Diego. “It’s super cool when Nissan invests in tools to help make our work easier, better and more efficient.” Continue reading →

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Honda Seat Belt Recalls on 2023-24 Accord and HR-V models

Posted on 28 November 2023 by Ken Zino

Honda (American Honda Motor Co.) is recalling 2023-2024 Accord and HR-V vehicles, according to the National Highway Traffic Safety Administration. The front seat belt pretensioners may be missing the rivet that secures the quick connector and wire plate.

These Accord cars and HR-V SUVs fail to comply with the requirements of Federal Motor Vehicle Safety Standard numbers 208, “Occupant Crash Protection,” 209, “Seat Belt Assembles,” and 210, “Seat Belt Assembly Anchorages.” More than 300,000 vehicles are involved because of a defective part made by Joyson Safety Systems in Mexico. Continue reading →

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The 2024 Acura TLX Sedan Arrives at Dealerships Today

Posted on 27 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on The 2024 Acura TLX Sedan arrives at Dealerships Today

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A refreshed 2024 Acura TLX sedan begins arriving at Acura dealerships today with a Manufacturer’s Suggested Retail Price (MSRP) starting at $45,000 [1].* The simplified lineup includes the TLX with Technology Package, an optional A-Spec sport appearance package and the high-performance TLX Type S.

All 2024 TLX models have a new front fascia with a frameless version of Acura’s Diamond Pentagon Grille. Inside there’s a new configurable 12.3-inch digital instrument cluster and 12.3-inch center screen, 20% larger than before, powered by a faster processor. Wireless Apple CarPlay® and Android Auto™ compatibility, a wireless charging pad, and TLX’s first application of Amazon Alexa Built-In are all standard. Two USB-C charging ports also have been added to the rear of the center console for back-seat passengers. All TLXs apply thicker carpet for a quieter cabin. Continue reading →

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McLaren Returns to Le Mans in 2024 FIA WEC

Posted on 27 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on McLaren Returns to Le Mans in 2024 FIA WEC

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McLaren Automotive said today it has been confirmed as a manufacturer represented in the 2024 FIA World Endurance Championship (WEC) with nominated racing partner United Autosports . It will contest the championship in the LMGT3 class with two 720S GT3 EVO cars. This means the McLaren name will return to Le Mans 29 years after winning the race on its debut appearance in 1995, completing the ‘Triple Crown’ of victories at Le Mans, the Indianapolis 500 and Monaco Grand Prix. To celebrate McLaren’s return to endurance racing, the entries will pay tribute to the debut with race numbers #59 -the race number of the winning F1 GTR – and #95, the year of the landmark win.

“We are delighted to have been confirmed for the 2024 WEC season and I would like to thank the Automobile Club de l’Ouest for our inclusion within a hugely competitive LMGT3 class. Motorsport is fundamental to our brand and we build our cars using technology from the race track to give them the supreme performance that our customers expect from a McLaren,” said Michael Leiters, CEO, McLaren Automotive. Continue reading →

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Sold Out Enzo Ferrari Saga Reissued

Posted on 27 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Sold Out Enzo Ferrari Saga Reissued

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Two limited Publisher’s Editions of Luca Dal Monte’s “Enzo Ferrari: Power, Politics, and the Making of an Automotive Empire” are available now from David Bull Publishing. Not coincidentally they are issued as the automotive and auto racing worlds await (dread?) the December debut of Michael Mann’s film, “Ferrari.” The original book, published in 2018, is currently sold out. However, David Bull Publishing is also offering the standard book within a limited-edition designer slipcase. A Standard Edition with designer slipcase is also available.

“The Enzo Ferrari I knew as boss, friend, and opponent, returns vividly to life in these pages,” said Mario Andretti, “along with a wealth of new facts and details I never could have imagined.” Continue reading →

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Stellantis Opens its First Circular Economy Hub in Turin

Posted on 24 November 2023 by Ken Zino

Stellantis* has opened its SUSTAINera Circular Economy Hub (CE Hub) at the former Fiat Mirafiori Complex in Turin, Italy. Stellantis hopes to foster its so-called Circular Economy ambitions with a 360-degree approach based on its 4R strategy: Reman, Repair, Reuse, and Recycle. The objectives of the CE Hub are to extend the life of parts and vehicles, ensuring that they last for as long as possible. When that is no longer possible, the material is collected for recycling from the re-manufacturing operations, and from the end-of-life vehicle dismantling activity, and then returned to the manufacturing loop to build new vehicles and parts.

“The Circular Economy Hub brings together a powerhouse of skills and activities aimed at creating a high-performing center of excellence in Europe,” said Stellantis CEO Carlos Tavares. “We are industrializing the recovery and sustainable reuse of materials, building new technologies and advanced capabilities as we grow in this area. We know that our commitment to re-manufacturing, repairing, reusing and recycling will not only take pressure off our planet, but it will also bring financial value to Stellantis, safeguarding our shared future as we quickly transform our production and consumption business model.” Continue reading →

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