Chinese Vehicle Market Sales Strong in September

Posted on 31 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Chinese Vehicle Market Sales Strong in September

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The Chinese market -the world’s largest – maintained a strong pace in September 2023 with Light Vehicle (LV) wholesales increasing by 8% year-on-year (YoY) to 2.8 million units, according to data just relabeled by the respected consultancy GlobalData*. Passenger Vehicle (PV) sales (wholesales) increased by 7% YoY to 2.5 million units in the month. The Light Commercial Vehicle (LCV ) sector grew rapidly by 20% YoY, with sales of 0.3 million units. On a month-on-month (MoM) basis, PV sales increased by 9%, while LCV demand was boosted by 20% in September.

“We expect sales to remain strong in the coming years. This month we have again increased our full-year 2023 forecast, this time by 300,000 units, bringing the full-year forecast to 28.9 million units, a year- on-year increase of 8%. However, it should be noted that near-term downside risks exist, mainly from the liquidity crisis in the real estate sector – said to directly and indirectly account for 25% of GDP-  declining exports, and high youth unemployment,” said the GlobalData Asia-Pacific Forecast Team. Continue reading →

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Urban Automotive Custom Rolls-Royce Ghost at SEMA

Posted on 31 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Urban Automotive Custom Rolls-Royce Ghost at SEMA 2023

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Urban Automotive, a customizer of luxury automotive brands, showed its Rolls-Royce Ghost on Milltek Corporation stand at SEMA 2023. It has carbon fiber styling “upgrades, now distributed in the USA officially and exclusively by Milltek as Urban Automotive USA.”

The carbon fiber styling kits were  created in-house by company owner Simon Dearn and his design team. Designed and handmade in Britain, Urban Automotive claims its products are the only full-replacement kits available in carbon fiber, “as part of a suite of upgrades which typically includes over 40 individual components.” Continue reading →

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BMW Recalls 2023-24 Driver Assist Systems

Posted on 31 October 2023 by Ken Zino

BMW of North America is recalling 2023-2024 740i, 740i xDrive, 760i xDrive, i7 eDrive50, i7 xDrive60, i7 M70, 2024 750e xDrive, 530i, 530i xDrive, i5 eDrive40, and i5 M60 vehicles. During assembly by the supplier Autoliv Romania the ground connection to the steering wheel may not have been attached according to specifications. This could affect the functionality of the hands-on detection system due to the possibility of misreading the electrical capacitance in that location, which means the emergency braking mode of the driver assist system won’t work.

Dealers will inspect and reattach the ground connection as necessary, free of charge as required by enlightened US safety regulations. Owner notification letters are expected to be mailed 8 December 2023. Continue reading →

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Ford Performance Parts, Packages – Mustang, Bronco, Ranger

Posted on 31 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Ford Performance Parts, Packages - Mustang, Bronco, Ranger

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Ford Performance Parts (NYSE: F) is showing what it calls “concept packages” today at the SEMA Show that will be available to customers starting in 2024. They were created in response to customer feedback, Ford said. The packages will be available via the Ford Performance Parts website or through a dealer accessory counter. Pricing for each package will be revealed nearer each package’s on-sale date, while either a Ford dealer or ASE-certified shop can perform the installation.

“Ford customers love to personalize the performance and appearance of their vehicles, especially Mustang, Bronco and Ranger,” said Mark Wilson, Ford North America Vehicle Personalization manager. “The Ford Performance parts packages we’re debuting combine the latest design trends with aftermarket accessories engineered to work with these vehicles out of the box.” Continue reading →

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Stellantis Posts Q3 Sales Up 37%. Pre-Tax Profit €3B

Posted on 31 October 2023 by Ken Zino

Stellantis* today posted a pre-tax operating profit of €3 billion. The company that is partly comprised of Jeep, Dodge Jeep and Ram said the strikes cost it around €750 million. However the strikes – characterized as “work stoppages”- resulted in ~$4 billion in lost sales.** Chrysler, Dodge Fiat, Jeep and Ram nonetheless reported a 7% increase in net revenue from quarter-over-quarter  (YoY)at $48.1 billion. Stellantis said increased shipments, more inventory, better supply chain access and pricing were partially offset by foreign exchange rates.

“In the first half of this year, Stellantis emerged as the industry leader for AOI (Automotive Operating Income), AOI margin, and Industrial Free Cash Flows among comparable peers. Today, we are focused on maintaining our momentum by delivering industry-leading profitability and cash flows, addressing critical near-term industry challenges, and continuing our electrification and technology transformation. This growth is propelling the execution of our Dare Forward 2030 strategy,” said Natalie Knight, Stellantis chief financial officer, who has been in the job ~100 days. Continue reading →

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UAW October Sweep – GM and UAW Tentative Agreement

Posted on 30 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on UAW October Sweep - GM and UAW Tentative Agreement

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“GM is pleased to have reached a tentative agreement with the UAW that reflects the contributions of the team while enabling us to continue to invest in our future and provide good jobs in the US,” said GM Chair and CEO Mary Barra, just minutes ago.

“All three of the Big Three now have a tentative agreement with the UAW. All three agreements break records and better unite our union,” the UAW said. GM workers will return to work while the agreement goes through the ratification process, with the UAW National GM Council convening in Detroit to review the agreement. Continue reading →

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Unifor Stellantis Agreement Good for All Workers in Transition

Posted on 30 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Unifor Stellantis Agreement Good for All Workers in Transition

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“After a short strike throughout the night Unifor has reached now a tentative agreement with Stellantis. The deal came about around 7:00 AM this morning, after bargaining throughout the night. And yes, as you can tell, all of those here are tired, but also very, very proud of the work that we’ve done for Canadian auto workers,” said Unifor National President Lana Payne late this afternoon at a hotel in Toronto.

Flanked by James Stewart, Stellantis Master Bargaining Chair (l) and Vito Beato (R) Stellantis Master Bargaining Acting Vice-Chairperson, Payne said, “I want to be clear, there were many challenges in this round of bargaining, including flat-out resistance to many elements of the pattern agreement that we had previously reached with Ford Motor Company and General Motors. Stellantis came to the table aggressively and with demands to outsource work, along with other concessions. It became very clear as we approached our midnight deadline last night that there were still way too many unresolved items, including issues at local and sub-tables. Continue reading →

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Ford EV Charging Network Grows by 25%

Posted on 30 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Ford EV Charging Network Grows by 25%

Location, location, location…

Ford Motor said today that customers can now access three new charging providers – Francis Energy, Blink and Red E across the US and Canada with embedded charger routing and simple payment options via FordPass. The three new companies bring more than 10,000 new chargers to the network, including more than 550 new DC fast chargers. Blink, Francis Energy and Red E join the existing BlueOval Charge Network providers: Shell Recharge Solutions, Electrify America, EVgo, ChargePoint, FLO, EV Connect, and Electric Circuit for a total of ~106,000 charging stations.

“Continuous growth of the BlueOval Charge Network, including a critical focus on reliable fast charging, remains a top priority to provide the best possible electric driving experience for our customers. Continue reading →

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Unifor and Stellantis Have Tentative Contract in Canada

Posted on 30 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Unifor Auto Talks 2023.

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Unifor* said early this morning that it has reached a tentative agreement with Stellantis, ending strikes at the company’s Canadian facilities that started at midnight. Among the  Detroit Three automakers, Stellantis has the largest operational footprint, biggest workforce, and most vehicle products manufactured in Canada. The new tentative agreement covers 8200 Unifor members at the Windsor Assembly Plant (locals 444, 195 and 1498), Brampton Assembly Plant (Local 1285), Etobicoke Casting Plant (Local 1459) and parts distribution centers in Mississauga (Local 1285) and Red Deer (Local 815). (AutoInformed: UAW has Tentative Agreement With Stellantis)

“I am proud of our members at every Stellantis facility for their quick and decisive action during this brief and effective strike action,” said Unifor National President Lana Payne. “This agreement will considerably improve the living standards of every Unifor member at Stellantis.”
 Continue reading →

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UAW has Tentative Agreement With Stellantis

Posted on 29 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on UAW has Tentative Agreement With Stellantis

Another enlightened contract.

The UAW has reached a tentative agreement with Stellantis yesterday. It is the second tentative agreement the union has reached in bargaining with the Big Three after 44 days of various strikes. Stellantis workers will return to work while the agreement goes through the ratification process, with the UAW National Stellantis Council convening in Detroit to review the agreement. The Stand Up Strike continues at GM* today at its Spring Hill, TN site.  This is GM’s largest facility in North America and it makes the profitable Cadillac Lyriq, XT5, XT6 and GMC Acadia. (AutoInformed: Ford Reaches UAW Contract Agreement If Members Vote Yes)

“Once again, we have achieved what just weeks ago we were told was impossible,” said UAW President Shawn Fain. “At Stellantis in particular, we have not only secured a record contract, we have begun to turn the tide in the war on the American working class. Going into these negotiations, the company wanted to cut 5000 jobs across Stellantis. Our Stand Up Strike changed that equation. Not only did we not lose those 5000 jobs, we turned it all the way around. By the end of this agreement, Stellantis will be adding 5000 jobs. We truly are saving the American dream.” Continue reading →

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Infrastructure – More DOT Roadway Safety Planning Grants

Posted on 27 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Infrastructure - More DOT Roadway Safety Planning Grants

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The US Department of Transportation today announced $86 million in Safe Streets and Roads for All (SS4A) grants to 235 regional, local and Tribal communities for planning and demonstration projects to improve safety and help prevent deaths and serious injuries on the nation’s roadways. The enlightened investments from President Biden’s infrastructure law allow communities to plan safety projects advocated by local leaders and residents. Tens of thousands of people die each year on US roads.

“Whether it’s a dangerous intersection or highway, or a need for better bus and bike lanes, no one can better pinpoint a community’s safety needs than the people who actually live and work there,” said US Transportation Secretary Pete Buttigieg. “In the past five years, the communities we are awarding these grants to experienced nearly 14,000 roadway deaths. To help change that unacceptable reality, we are proud to deliver this needed funding to help them address their unique safety needs and save lives.” Continue reading →

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CARB Expands Community Air Protection Program

Posted on 27 October 2023 by Ken Zino

The California Air Resources Board (CARB) today approved the first five-year update to an enlightened statewide strategy for the Community Air Protection Program (CAPP) that it claims is designed to improve air quality at the local scale in collaboration with residents. The updated strategy, Blueprint 2.0, adds three new tools to the program: the use of community air grants to support local emissions-reduction plans; flexibility in the use of incentives funds to meet community goals; and community-focused enforcement. (AutoInformed:CARB Approves Toyota HD Fuel Cell Electric Powertrain Kit)

“Blueprint 2.0 is an example of equity-driven innovation that puts a spotlight on the environmental challenges that overburdened communities face and engages residents so that solutions are informed by their priorities and needs,” said CARB Chair Liane Randolph. “With today’s vote, we expanded the tools that residents have to work toward cleaner air and healthier communities.” Continue reading →

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Stellantis Invests in Chinese Leapmotor to Expand EV Sales

Posted on 27 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Stellantis Invests in Chinese Leapmotor to Expand EV Sales

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Stellantis* and Leapmotor** have announced that Stellantis plans to invest €1.5 billion to acquire ~20% of Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, a 51/49% Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. The move is not without its critics because it ties Stellantis to a company controlled by the Chinese communist party. Stellantis had previously stopped making vehicles in China. (AutoInformed: Tilt! Stellantis and GAC to Stop Jeep China JV)

“As consolidation unfolds among the capable electric vehicles start-ups in China, it becomes increasingly apparent that a handful of efficient and agile new generation EV players, like Leapmotor, will come to dominate the mainstream segments in China,” said Stellantis CEO Carlos Tavares. Continue reading →

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Ford Motor 2023 Q3 Net income $1.2 Billion

Posted on 26 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Ford Motor Q3 Net income $1.2 Billion

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Ford Motor Company (NYSE: F) posted today Q3 revenue of $44 billion, up 11% from Q3 2022 on flat vehicle wholesales. Net income of $1.2 billion reversed a year-ago net loss of $827 million, which included a $2.7 billion non-cash, pretax impairment on Ford’s losing investment in Argo AI. Adjusted earnings before interest and taxes (EBIT), in Q3 increased to $2.2 billion.

“I’m very optimistic about the reality we’re creating with Ford+,” said President and CEO Jim Farley. “We’re building a more dynamic, highly talented and customer-focused company at the intersection of great vehicles, iconic brands, innovative software and high-value services. Continue reading →

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Consumer Spending Spree – October US Auto Sales

Posted on 26 October 2023 by Ken Zino
Ken Zino of AutoInformed.com on Consumer Spending Spree – October US Auto Sales

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Total US new-vehicle sales during October 2023 are forecast to reach 1,201,800, a 6.6% increase from October 2022, according to numbers just released by J.D. Power and GlobalData.* The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.5 million units, up 0.9 million units from October 2022. Retail buyers are on pace to spend $43.7 billion on new vehicles, up $0.3 billion from October 2022.

“October results indicate a relatively robust performance with modest year-over-year sales growth but with record consumer expenditures. Year-to-date total sales through October are anticipated to surpass 12.8 million units, reflecting a 13.6% increase compared with the same period a year ago. Nonetheless, these figures remain below pre-pandemic levels when year-to-date sales exceeded 14 million units. The UAW work stoppage, which commenced in September, has had a limited effect on October’s industry sales,” said  Thomas King, president of the data and analytics division at J.D. Power. Continue reading →

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