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Tag Archives: autoinformed.com
Infected – November 2022 US Aviation Fuel Consumption Down
The Department of Transportation’s Bureau of Transportation Statistics (BTS) today released U.S. airlines’ November fuel cost and consumption numbers show US scheduled service airlines used 1.398 billion gallons of fuel, 2.5% less fuel than in October 2022 (1.434 billion gallons) and 3.2% less than in pre-pandemic November 2019. Continue reading
Mercedes-Benz Recalls 324,000 Vehicles for Sudden Stalling
Covered are the so-called GLE/ML (166 platform) and GLE Coupe (292 platform) vehicles. “Depending on the amount of water that has entered the spare wheel well, the accumulated water could intermittently contact the fuel pump control unit,” Mercedes said. Continue reading
Posted in customer satisfaction, quality, recalls, safety
Tagged auto industry commentary, autoinformed.com, Ken Zino, mercedes recalls, nhtsa, sudden stalling
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EV Battery Gold Rush Down Under – Stellantis and Element 25
The deal with Element 25 – similar to ongoing EV battery supply chain moves at other automakers – is key to Stellantis’ stated electrification strategy, which includes securing substantial supplies of raw materials for battery electric vehicle (BEV) production. Manganese is a stabilizing element in the cathode of EV batteries. Continue reading
Penske Automotive Group SEC 8K Filing – Cuts Credit Costs
“The U.S. Credit Agreement provides for up to $800.0 million in revolving loans for working capital, acquisitions, capital expenditures, investments, and other general corporate purposes, and provides up to an additional $50.0 million of letters of credit. The U.S. Credit Agreement provides for a maximum of $150.0 million of borrowings for foreign acquisitions and expires on September 30, 2025. The interest rate on revolving loans is LIBOR plus 1.50%, subject to an incremental 1.50% for uncollateralized borrowings in excess of a defined borrowing base.” Continue reading
Posted in auto news, economy, financial results, shows and events
Tagged auto industry commentary, autoinformed.com, Ken Zino, sec
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US December Unemployment at Record Low of 3.5%
Nevertheless, the Federal Reserve seems determined to send the US economy into a deep recession. The Fed has done this in the past with reckless interest rate increases from an ideology that thinks it is good when people lose jobs to keep demand and inflation down. However, consider that during December, average hourly earnings for all employees on private non-farm payrolls rose by 9 cents, or a mere 0.3%, to $32.82. During the past 12 months, average hourly earnings have increased by 4.6%. In December, average hourly earnings of private-sector production and non-supervisory employees rose by 6 cents, or 0.2%, to $28.07. AutoInformed doesn’t consider the latest data as cause for inflationary worries, let alone more interest rate increases. (Autoinformed.com: Federal Reserve Chair Powell Says Inflation Remains Too High) Continue reading
2022 US Light Vehicles Sales Worst Since 2011
However, December posted the highest volumes of 2022, ahead of March by ~26,000 units. The daily selling rate was estimated by LMC as 47,500 units/selling day, compared to 44,900 units/selling day in November. LMC thinks that shows how the annualized selling rate was affected by the historical seasonality rather than the pace of sales necessarily slowing down. According to preliminary estimates, retail sales totaled around 1,057,000 units, unchanged from December 2021, while fleet accounted for approximately 225,000 units, representing 17.6% of the total market. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc
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Trade Deficit Drops $16 Billion in November 2022
The goods and services deficit was $61.5 billion in November, down $16.3 billion from $77.8 billion in October (revised) the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today.* However, it was because November exports were $251.9 billion, $5.1 billion less than October exports; but November imports were $313.4 billion, $21.5 billion less than October imports.
In short, the US economy stopped buying more imports at an amount greater than its exports increased. Whether this is good or bad depends on your economic ideology. Continue reading
Posted in economy
Tagged auto industry commentary, autoinformed.com, goods and services deficit, Ken Zino
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Mercedes-Benz to Open a Global EV Charging Network
General Motors is arguably well ahead of Mercedes in offering charging stations. Even though more public charging stations are in operation than ever, customer satisfaction with public Level 2 charging declined from last year, dropping to 633 (on a 1,000-point scale) from 643 in 2021, while satisfaction with the speedier DC (direct current) fast charger segment remains flat at 674, J.D. Power told AutoInformed last August. Continue reading
GM, Andretti Global to Seek Formula One Cadillac Entry
The two well-known American brands in the automotive and motorsport sectors, have announced their intent to pursue the opportunity to compete in the FIA Formula One World Championship. GM would be represented by the Cadillac brand. The Andretti Cadillac team would be based in the U.S. with a support facility in the U.K. The Andretti Cadillac team is planning to submit an Expression of Interest when the FIA opens the formal process. If selected, the team is seeking to compete as soon as practical with at least one American driver. Let the speculation begin. Continue reading
GM Canada Sales Up 42% in Q4, 5% During 2022
For EVs, Canadian shipments for the Cadillac LYRIQ have already begun, with the first customer deliveries expected in January. Also launching in 2023 are the Chevrolet Equinox EV, Chevrolet Blazer EV, Chevrolet Silverado EV, GMC Sierra EV, and GMC HUMMER SUV EV. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, EVs, gm canada, Ken Zino
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Toyota Motor North America 2022 Sales Drop Notably
“As the industry closes out 2022, we’re expecting the year to end around 13.9 million SAAR. And for 2023, we’re predicting a SAAR to grow to approximately 15 million. And while we still have many of 2022 challenges carrying into 2023, we’re moving in the right direction, and doing whatever we can to get vehicles to our customers as quickly as possible. So, we’re cautiously optimistic about our future. Now let me turn it over to Andrew to talk about our two brands,” said Jack Hollis, executive vice president of Toyota Motor North America (TMNA) and president of Toyota Motor Sales. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, Jack Hollis, Ken Zino, TMNA
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Stellantis to Make Archer Electric Airplanes
Stellantis now will work on Archer’s recently announced manufacturing facility in Covington, Georgia. The companies plan to begin manufacturing the Midnight aircraft in 2024. Midnight is claimed to be safe, sustainable, quiet and, with an expected payload of more than 1000 pounds. It can carry four passengers plus a pilot. With a range of 100 miles, Midnight is meant for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. All this of course is dependent on The Federal Aviation Administration issuing a type certificate and approving other air worthiness requirements including training and operating limitations. Continue reading
General Motors Posts US Sales Leadership for 2022
General Motors (NYSE: GM) said today that GM and its dealers delivered 2.8 million vehicles in the U.S. in 2022 (+3%), leading the industry in total sales. GM also claimed that it extended its leadership in key market segments including full-size pickups and full-size SUVs.
Industry sales results will be forthcoming during the next couple of days, which will allow for a more nuanced analysis. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, Steve Carlisle
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FHWA Large Bridge Project Grants Underway
This program is part of the Administration’s largest dedicated investment in highway bridges since the construction of the Interstate highway system. Almost $40 billion projected to be spent over five years that will help repair or rebuild ten of the most economically significant bridges in the country. Thousands of other bridges across the country are covered by the program as well. Continue reading
Virtual Power Plant Partnership – Ford, GM, SunPower, Others
VP3 follows the institutional spinoffs in the electric sector previously developed by RMI, including the Clean Energy Buyers Association and the Energy Web Foundation. Initial funding was made possible by General Motors and Google Nest. Today, VP3 includes Ford, General Motors, Google Nest, OhmConnect, Olivine, SPAN, SunPower, Sunrun, SwitchDin, and Virtual Peaker. Continue reading →