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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Queen Elizabeth II’s Mulsanne Added to Bentley Collection

Posted on 24 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Queen Elizabeth II’s Mulsanne Added to Bentley Collection

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Bentley Motors today said that the most recent addition to its Heritage Collection is a custom 2020 Mulsanne Extended Wheelbase, the final example of the Mulsanne handcrafted at Bentley’s Dream Factory in Crewe. It previously resided with the Royal household. It was commissioned by the late Queen, in Barnato paint with a Twine and Cumbrian Green interior. (AutoInformed: Milestones – 90th Birthday of Derby Bentleys)

Concealed blue police lights, a siren and a bullhorn were also installed, with a dedicated switch panel hidden beneath a walnut-veneered door behind the gear lever. The starting point was an exterior in solid Barnato green, paired with an interior in Twine and Cumbrian hide, Burr Walnut wood veneers and deep lambswool carpets. To this, the specification added rear privacy curtains and the Royal coat of arms of the United Kingdom inlaid into the door waistrails (the bottom sill, Yank), while the front center armrests were removed in lieu of a custom-sized tray to accommodate the Queen’s handbag. Continue reading →

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New Electric Vehicles for Nissan UK Sunderland Plant

Posted on 24 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on New Electric Vehicles for Nissan UK Sunderland Plant

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Sunderland, the UK’s largest car plant, will make all-electric future versions of  the Qashqai, JUKE and LEAF models. Nissan said today that this will comprise three electric vehicles (EVs), three gigafactories and up to £3B in investment.

“Exciting, electric vehicles are at the heart of our plans to achieve carbon neutrality. With electric versions of our core European models on the way, we are accelerating towards a new era for Nissan, for industry and for our customers,” said Nissan President and CEO Makoto Uchida. Continue reading →

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Stellantis Repurchases €934M in Shares from Dongfeng

Posted on 22 November 2023 by Ken Zino

Stellantis* and Dongfeng Motor (Hong Kong) International, a subsidiary of Dongfeng Motor Group Company confirmed today that Stellantis repurchased 50 million common shares (1.58% of Stellantis’ share capital pre-cancellation) from Dongfeng, for a total of €934 million. Stellantis plans to cancel these shares.

This is in accordance with the terms of the previously announced share repurchase framework agreed by the two parties on 15 July 2022. Dongfeng submitted an offer to sell to Stellantis specifying both the number of shares and the potential transaction timing, and Stellantis exercised its right to accept the offer. According to the terms of the share repurchase framework, pricing was set at the five-day average closing price of Stellantis shares on Euronext Milan for the period ending immediately prior to the date on which Dongfeng submitted an offer. which was on 21 November 21 2023. Continue reading →

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Volkswagen Raises Pay of US Plant Workers to Resist UAW

Posted on 22 November 2023 by Ken Zino
AutoInformed.com on Volkswagen Chattanooga - the Only Non-Union VW Plant in the World

At Volkswagen 121 out 122 global plants are unionized.

Volkswagen of America said today it will increase the pay of its non-union Chattanooga assembly plant workers by 11%. In what is clearly a defensive move against the reformed and increasingly successful United Auto Workers union in the US, which is now targeting non-union transplants in the south, the increase is effective starting in December. A condensed wage progression timeline begins in February. The VW pay increase is far short of what the UAW gained for its members in its 2023 contract negotiations with Ford, GM and Stellantis.*

“Volkswagen of America annually evaluates compensation for our production team members at the end of the year to ensure we continue to offer a competitive and robust compensation package designed to attract and motivate employees who make our daily operations possible at the plant,” VW said in a statement. Continue reading →

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Record Consumer Spending Spurs US November Sales

Posted on 22 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Record Consumer Spending Spurs US November Sales

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Total new-vehicle sales for November 2023, including retail and non-retail transactions, are projected to reach 1,236,000 units, a 10.2% increase from November 2022, according to a joint forecast from J.D. Power and GlobalData* released today. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.5 million units, up 1.4 million units from November 2022. New-vehicle retail sales for November 2023 are forecast to increase when compared with November 2022. Retail sales of new vehicles this month are expected to reach 1,041,000 units, a 13.0% increase from November 2022. In AutoInformed’s view so-called Bidenomics continues to benefit the economy

“November results indicate a robust performance with double-digit year-over-year sales growth and record consumer expenditures for the month. The consumer expenditure record was due to strong sales growth, which outweighed a 1.9% decline in transaction prices,” said Thomas King, president of the data and analytics division at J.D. Power. “Sales growth is being enabled by improving vehicle availability. Despite the nearly six-week UAW work stoppage, retail inventory levels in November are expected to finish around 1.6 million units, a 7.5% increase from last month and 43.7% increase compared with November 2022, but still over 40% below pre-pandemic levels, King said. Continue reading →

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Cruise CEO Resigns as GM Revamps Embattled Company

Posted on 22 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Cruise CEO Voght Resigns as GM Revamps Embattled Company

Glidden – Cruise President and Chief Administrative Officer.

Cruise CEO Kyle Voght resigned on Sunday and there are media reports that the chief product officer and co-founder Daniel Can also resigned. You wouldn’t know it from the Cruise web site, which remains mute on the defections or what look to be forced resignations.  

The site simply placed the GM Executive now in charge under the president heading in the About Cruise tab. Perhaps more clarification about titles awaits a GM Board meeting? Does the current posting align with SEC regulation FD (Fair Disclosure)? This in AutoInformed’s view is a material development. Continue reading →

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Global Automotive Capacity Too High for Demand?

Posted on 21 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Global Automotive Capacity Too High for Demand?

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“In the ever-evolving landscape of the automotive industry, the lower utilization conundrum appears to be here to stay. The recovery in global Light Vehicle (LV) demand in 2023 has been stronger than expected, as supply constraints eased in most markets. The outlook for 2023 has been increased by 4%, from 85.8 million units in January to 89.2 million units in November.

“However, this recovery and, more specifically, consumers still face headwinds from high vehicle prices (with the exception of China’s price war). High prices have kept the recovery in check and some consumers on the sidelines, as pressure on vehicle production eases,” said Jeff Schuster Vice President Research and Analysis, Automotive, at the GlobalData* consultancy in an analyst briefing made public today. Continue reading →

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Tether Cyber Scam ~$9M in Crypto Seized by DOJ

Posted on 21 November 2023 by Ken Zino

The US Justice Department (DOJ) today announced the seizure of ~$9 million worth of Tether, a cryptocurrency pegged to the US dollar. These seized funds were traced to cryptocurrency addresses allegedly associated with an organization that exploited more than 70 victims through romance scams and cryptocurrency confidence scams, widely known as “pig butchering.”

“Through this significant seizure, we disrupted the financial infrastructure of an organized network of scammers who stole millions from victims across the United States. These scammers prey on ordinary investors by creating websites that tell victims their investments are working to make them money. The truth is that these international criminal actors are simply stealing cryptocurrency and leaving victims with nothing,” said Acting Assistant Attorney General Nicole M. Argentieri of the Justice Department’s Criminal Division. Continue reading →

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Ford Motor Recalls Super Duty F-Series Trucks

Posted on 21 November 2023 by Ken Zino

Ford Motor Company is recalling some 2022-2023 Ford Super Duty F-350, F-450, F-550, and F-600 vehicles. The fasteners for the front wheel hub extender may be insufficiently tightened, which can result in the wheel and wheel extender detaching from the vehicle.

Owners are advised not to drive their vehicle until the repair has been performed. Dealers will inspect the front wheel hub extender retaining nuts. If the retaining nuts are loose, dealers will replace the wheel hub extender, retaining nuts, and hub assembly. Continue reading →

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Stellantis and CATL MoU for Lithium Iron Phosphate Batteries

Posted on 21 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis and CATL MoU for Lithium Iron Phosphate Batteries

Click to enlarge.

Stellantis (NYSE: STLA)* said today that it signed with CATL a Memorandum of Understanding (MoU) for the local supply of lithium iron phosphate (LFP) batteries for European market. The MoU outlines joint development of a technology roadmap and future battery value chain opportunities. Stellantis and CATL are considering the possibility of a joint investment in the form of a joint venture with equivalent contributions. Stellantis aims to use LFP batteries to assist making its Dare Forward 2030 electrification targets. LFP has a long service life and high thermal stability.

“This MoU with CATL on LFP battery chemistry is another ingredient in our long-term strategy to protect freedom of mobility for the European middle class,” said Stellantis CEO Carlos Tavares. “CATL is the industry leader in this sector and together with our iconic vehicle brands, we will bring innovative and accessible battery technology to our customers while helping us achieve our carbon net zero ambition by 2038.” Continue reading →

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UAW Sweep – Stellantis Contract Approved by Members

Posted on 21 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on UAW Sweep – Stellantis Contract Approved by Members

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Last night the UAW confirmed that members at Stellantis voted to accept the new contract completing the Big Three sweep by the reinvigorated labor union. After the historic so-called Stand Up Strike, UAW members at Ford, General Motors and  now Stellantis have voted to ratify their new contracts, locking in record gains. Across the three companies, 64% of voting members voted in favor of the agreements. Stellantis remained silent in public.

“The members have spoken. After years of cutbacks, months of our Stand Up campaign, and weeks on the picket line, we have turned the tide for the American autoworker,” said UAW President Shawn Fain. “The Stand Up Strike was just the beginning. The UAW is back to setting the standard. Now, we take our strike muscle and our fighting spirit to the rest of the industries we represent, and to millions of non-union workers ready to Stand Up and fight for a better way of life.” Continue reading →

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Aston Martin Chuffed over Las Vegas Grand Prix Results

Posted on 20 November 2023 by Ken Zino
Ken Zino of AutoInformed.com on Aston Martin Chuffed over Las Vegas Grand Prix Results

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A double points-winning performance from the Aston Martin Aramco Cognizant Formula 1® Team capped a memorable weekend for Aston Martin in Las Vegas, the British Luxury car maker said today. Aston, of course, runs a German Mercedes-branded engine in its race cars.* (AutoInformed: Is Formula One in Vegas Cursed? Clark County Cuts Fees) 

“Thrilling fans with its unmistakable style and unrivaled performance, DBX707 lit up the Las Vegas Strip Circuit™ on Saturday with an exclusive track takeover ahead of the first Las Vegas Grand Prix in 41 years, demonstrating the supreme capability of Aston Martin’s critically acclaimed model, the world’s most powerful ultra-luxury SUV and serves as the Official FIA Medical Car of Formula 1®,” said Aston. Continue reading →

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Coffeyville Resources Refining Fined $23 Million for Pollution

Posted on 20 November 2023 by Ken Zino
AutoInformed.com

“Oil companies and their allies in Congress have worked hard to stall the proposal of these standards.”

The Environmental Protection Agency (EPA) and the Department of Justice today announced a settlement with Coffeyville Resources Refining & Marketing and its affiliated companies (CRRM) for violations of the Clean Air Act and a previous consent decree related to operation of its petroleum refinery in Coffeyville, Kansas. These violations resulted in illegal emissions of various pollutants including an EPA estimate of more than 2300 excess tons of sulfur dioxide (SO2), a pollutant that can make breathing more difficult, from the refinery’s flares from 2015 to 2017.

“The settlement with Coffeyville delivers on the promise of EPA’s new climate enforcement strategy by reducing greenhouse gas emissions equivalent to the annual emissions of 10,000 cars,” said Assistant Administrator David M. Uhlmann for EPA’s Office of Enforcement and Compliance Assurance. “In addition, the actions we are taking alongside our state partners in Kansas will reduce harmful air pollution that makes breathing more difficult and causes smog, acid rain, and tree and plant damage.” Continue reading →

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