Tag Archives: autoinformed.com

Toyota Posts Strong FY 2024 Q1 Results – $9.2 Billion Net

Sales volume increased in all regions due to productivity improvements inside TMC and with its suppliers. Consolidated vehicle sales Q1 was 2,326,000 units, at 115.5% of consolidated vehicle sales for the same period of the previous fiscal year. Toyota and Lexus vehicle sales was at 2,538,000 thousand units, at 108.4% of such sales for the same period of the previous fiscal year. This coincided with the better supply of  semiconductors, which is still delaying delivery, particularly on new models. Notably, electrified vehicles were 34% of total sales. Continue reading

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New Pattern Bargaining – UAW and Unifor Strike All Makers?

“This year, negotiations are expected to be more contentious, and UAW President Shawn Fain has alluded that things may be done differently this time around which could mean that they negotiate with all three simultaneously – ultimately leading to a strike against all of the Detroit 3 if their demands are not met,” said Taylor Prodin, Analyst, Americas Vehicle Forecasts, GlobalData*. Continue reading

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Ford Motor Recalls 2023 Super Duty Pickups

Ford said, “If the driver and front passenger door module experiences a low power condition and resets while the window is moving, the anti-pinch function may not detect an obstacle near the top edge and may not automatically reverse direction.” Continue reading

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Toyota China Re-Org as EV and Trade Wars Proceed

“The Chinese market is growing at an unprecedented pace,” said Tatsuro Ueda, Chief Executive Officer of the China Region. “Toyota will also work together as a group to reform how we work and think to survive in China.” Continue reading

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USDOT Proposes 58 MPG Fuel Economy Standard

The US Department of Transportation’s National Highway Traffic Safety Administration today issued a proposal to update fuel economy standards for passenger cars and light trucks. The “preferred alternative” among several in NHTSA’s proposal includes a 2% per year improvement in fuel efficiency for passenger cars and a 4% per year improvement for light trucks beginning in model year 2027. This increases through model year 2032, potentially reaching an average fleet fuel economy of 58 miles per gallon by 2032. However, NHTSA notes that real word fuel economy is ~20-30% lower than estimated CAFE fuel economy.* Continue reading

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Lotus Engineering Shows New Olympic Bike

Lotus Engineering showed today gen 2 of the Hope-Lotus bike with revised front forks and handlebars and the HBT Paris Frame, developed by Hope Technology. Lotus Engineering has collaborated with the Great Britain Cycling Team (GBCT), Hope Technology and Renishaw to modify the Tokyo 2020 track bike which contributed to the track team winning seven Olympic medals and leading the event medal table. The competitive track debut will be in August at the 2023 UCI Cycling World Championships in Glasgow, Scotland. Continue reading

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Porsche to Buy All of IT Consultancy MHP

The global auto industry is in the midst of a digital transformation after a century of blacksmithing metals. Internal processes, customer interactions, computer-based charging or other services are all becoming competitive requirements. Continue reading

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Stellantis Completes Symbio Hydrogen Purchase

“The addition of Stellantis as a shareholder will boost Symbio’s development across Europe and in the US,” Stellantis said. Acquiring an equal stake in Symbio supports Stellantis  fuel cell van production in France, and supplements the company’s growing battery electric vehicle portfolio. Continue reading

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EU New Commercial Vehicle Registrations Up in H1 2023

Commercial vehicle sales in Europe are up in double digits during H1 2023, according to ACEA* data released this morning. During the first half of 2023, new EU van sales increased by 11.6% to 725,418 units as supply chain issues eased. Continue reading

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Ford Motor Posts $3.8B Q2 Earnings on 12% Revenue Increase

“The shift to powerful digital experiences and breakthrough EVs is underway and going to be volatile, so being able to guide customers through and adapt to the pace of adoption are big advantages for us,” said Ford CEO Jim Farley. “Ford+ is making us more resilient, efficient and profitable, which you can see in Ford Pro’s breakout second-quarter revenue improvement (22%) and EBIT margin (15%),” Fairly said selectively. Ford’s electric business – Model e – is forecast to lose ~$4.5 billion during 2023. It lost $1.2 billion during Q2 or $40,000 a vehicle. Continue reading

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US July Vehicle Sales Forecast Up Significantly Again

Total new-vehicle sales for July 2023, including retail and non-retail transactions, are projected to reach 1,320,982 units, a 21.5% increase from July 2022, according to a joint forecast released today from J.D. Power and GlobalData.* Total sales of new vehicles this month are expected to reach 1,320,982 units, a 21.5% increase compared with July 2022 when adjusted for selling days.

Bidenomics is clearly working in AutoInformed’s point of view. (July 2023 has 25 selling days, one less than July 2022.) Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 16.8% year-over-year. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16 million units, up 2.6 million units from July 2022. Continue reading

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Old Curiosities Found During Sunbeam LSR Restoration

“It’s the first 200mph screwdriver, which couldn’t have been taken out of the oil tank because it was buried under the engine. We cleaned out the tank where the oil had solidified, using hot water and detergent, and after shaking the tank the vintage screwdriver eventually tipped out, “said National Motor Museum Senior Engineer Ian Stanfield. “After the LSR breaking run, the oil would have stuck like glue on top of the chassis, which is where we made the other discoveries.” Continue reading

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SEC Issues  Rules on Cybersecurity Risks

“Whether a company loses a factory in a fire — or millions of files in a cybersecurity incident — it may be material to investors,” said SEC Chair Gary Gensler. “Currently, many public companies provide cybersecurity disclosure to investors. I think companies and investors alike, however, would benefit if this disclosure were made in a more consistent, comparable, and decision-useful way. Through helping to ensure that companies disclose material cybersecurity information, today’s rules will benefit investors, companies, and the markets connecting them.” Continue reading

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Porsche 2023 H1 Sales and Profit Increase

Porsche AG said today in Stuttgart that during the first half-year of 2023 Group sales revenue as well as Group operating profit increased. Sales revenues rose by 14% to €20.43 billion. Operating profit rose by 10.7% to €3.85. The Group operating return on sales ended the first half-year at 18.9% in the upper range of the previous guidance of 17%-19%. However, automotive net cash flow declined to €2.22 billion (previous year: €2.39 billion) attributed to extensive investment in products and innovations. Continue reading

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Seven Automakers to Build North American Charging Network

The awakened policy shift from partisanship toward cooperation in saving the planet for the pernicious effects of climate change, aka global warming, is the latest beneficial result of the Biden Administration’s Inflation Reduction Act, which in part is using once eschewed and mocked national industrial policy to effectively serve all – as in We the People – in the US. The socialist aspects of the policy also have larger global benefits as well. Continue reading

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