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Repair Shop Owner Sentenced to Prison for False Tax Return
In 2011, Ferrari used business funds to pay for personal items, including gambling on horse races. Ferrari concealed this diversion of business income by not disclosing it to his return preparer, thus causing the preparation and filing of a false corporate tax return. Furthermore, Ferrari did not pay employment taxes in the amount of $291,600 based on an unreported cash payroll, according to court documents. Continue reading
Penske Automotive Group Ups Dividend Again
“We are pleased to provide an increase in the cash dividend to our shareholders,” said Penske Automotive Group President, Robert Kurnick, Jr. “Continued strong cash flow, a healthy balance sheet, and the strength of our operations enables us to increase the dividend and reward our shareholders.” Continue reading
EU – EVs Outsell Diesel Cars for First Time
Perhaps more significant though is that battery electric vehicles took a 15.1% market share, outselling tax-favored diesel vehicles. Hybrid-electric cars remained the second-most popular choice among new car buyers, representing 24.3% of the market. Gasoline fueled cars retained the largest share, accounting for 36.3%. Continue reading
VW Patents High-Speed Wireless EV Charging System
“We are accelerating innovation within electric vehicles and contributing to more sustainable transportation in America by focusing our efforts on some of the most transformative automotive research being done in the country,” said Pablo Di Si, President and CEO at Volkswagen Group of America Inc. “Our technology teams in Tennessee are a great example. There, we are tapping American ingenuity fostered by the unique blend of world-class academic research and Volkswagen’s leading industry capabilities.” Continue reading
GM Names Norm de Greve Chief Marketing Officer
De Greve, 54, joins GM from CVS Health, where he has served as chief marketing officer since 2015.De Greve’s appointment is effective 31 July 312023. He will report to GM President Mark Reuss. Continue reading
Alfa Romeo and Dodge Top Maker Website Satisfaction Study
“Website satisfaction can be volatile and automotive websites are not immune to changing preferences,” said Jon Sundberg, director of digital solutions at J.D. Power. “However, manufacturers have shown to be very agile when it comes to website design and ensuring their sites meet modern standards, more so than many other industries, as exemplified through the study data.” Continue reading
Ford Cuts F-150 Lightning Prices by $6000 to $10,000
Ford Motor said today that it is lowering the MSRP of F-150 Lightning® electric vehicle for all customers by $6000 to $10,000. The largest cuts are on the least expensive models. The Rouge Electric Vehicle Center in Michigan is currently closed completing changes that will triple the plant’s annual capacity to a targeted 150,000 F-150 Lightning trucks beginning this fall. Tesla, of course, surprised the industry with its recent price cuts. The increasing supply of semi-conductors is also adding to downward pricing pressure. Continue reading
Posted in electric vehicles, marketing
Tagged auto industry commentary, autoinformed.com, EV price war, F-150 price cuts, Ken Zino, tesla
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Chevrolet Traverse Adds Off-Road Z71 Model for 2024
The new Chevrolet Traverse in the fiercely competitive mid-size SUV segment is joining the off-road parade in both the US and Canada during the 2024 model year, Chevrolet said this morning. Chevy also said it has more SUV-like proportions, key safety features with families in mind, and more horsepower. It also has the new-age equivalent of a bold, new grille. Continue reading
Ford, Chrysler and BMW Top 2023 Recall List
The National Highway Traffic Safety Administration released today the latest safety defect recall list by manufacturer for the 2023 year-to-date. Ford Motor Company with 31 recalls of more than 4,100,000 vehicles – 15% of all recalls – clearly led the list. Chrysler (aka FCA) with 27 recalls of more than 1.7 million vehicles (13%) was second. BMW was third with 19 recalls of 157,000 vehicles (9%). Forest River and Navistar rounded out the terrible top five. Continue reading
Global Light Vehicle Sales at 7.9M Up Again in June
“For a second consecutive month, US light vehicles sales registered 1.4 million units (+20% YoY) as OEMs saw improved vehicle production levels following the easing of supply chain issues. China had the strongest month of the year so far, with a selling rate of 33 million units/year. All major West European countries reported positive YoY growth as their markets continue to recover from the market headwinds in 2022,” according to the Global Light Vehicle Sales Forecasting Team. Continue reading
Lotus Eletre SUV EV at Goodwood
Lotus has held its first ever UK test drives for its hyper-SUV – the Lotus Eletre – at the Goodwood Motor Circuit last Sunday as part of a new electric vehicle promotional event staged in conjunction with the Festival of Speed or is that now a festival of marketing? The Lotus Eletre claims to be the first of a new breed of pure electric performance SUVs. It is positioned as a “lifestyle vehicle.” The first customer deliveries of the hyper-SUV are expected in the coming months. Continue reading
Coming This Fall a Ford Mustang Mach-E Rally
“Mustang Mach-E took the freedom and fun of Mustang and made it free from emissions. Now with Mustang Mach-E Rally, we’re providing our customers the freedom to venture off the asphalt and beyond the beaten path,” said Darren Palmer, Vice President, Electric Vehicle Programs, Ford Model e. Continue reading
First Look – Electric Porsche Vision 357 Speedster
The nod to the 356 is in passing since the all-electric Porsche Vision 357 Speedster is based on the 718 GT4 e-Performance. The electric motors and battery technology come from the Mission R and the chassis from the 718 GT4 Clubsport. Following its world premiere at the Goodwood Festival of Speed, the design study will be on display at this year’s Rennsport Reunion in the USA at the end of September. AutoInformed bets the production version will be announced at the Frankfurt Motor Show, now called IAA MOBILITY 2023, in Munich this September. Continue reading
New Extended Range Option on 2024 Hummer EV 3X Pickup
“The 2024 GMC HUMMER EV 3X Pickup will take you where you need to go, now with more driving range and confidence,” said Al Oppenheiser, chief engineer, GMC HUMMER EV. Continue reading
Stellantis, Saft Show Battery Integrating Inverter and Charger
Integrating the inverter and charger functions creates a battery that is more efficient, which enhances the battery electric vehicle (BEV) range and is more reliable and less costly. It also increases space in the vehicle. Continue reading →