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Black Lives Matter – NASCAR Drivers Walk Wallace to His Starting Position at Talladega Superspeedway
Darrell “Bubba” Wallace, driver of the #43 Victory Junction Chevrolet Camaro ZL1 1LE, was escorted to his starting position by NASCAR Cup Series drivers and crew prior to the rain delayed NASCAR Cup Series GEICO 400 race Monday, June 22, 2020 at Talladega Superspeedway Continue reading
CarMax Q1 2021 – Net Sales Drop 40% to $3.2B
CarMax (NYSE:KMX), the nation’s largest retailer of used cars, today reported weak results for the first quarter ending May 31, 2020. Net sales and operating revenues declined 39.8% to $3.23 billion. Net earnings declined 98.1% to $5.0 million and net earnings per diluted share declined 98.1% to $0.03. Nonetheless CarMax stock is up ~12% year-to-date at ~$92/share, even though used car sales are projected to decline. It’s part of the mania on tech stocks that thinks the companies are invincible. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed.com, CarMax, Ken Zino
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EV Ford Mustang Has Optional Intelligent Range
The vehicle battery system reports how much energy is available, while the powertrain module tracks how much energy is being used. Warmer or colder weather can impact range, so Intelligent Range takes that into consideration, too, updating estimated range along the way. Continue reading
BMW and Mercedes-Benz Stop Automated Driving JV
In what appears to be the automotive equivalent of marriage counseling or an analysis of the financial aspects of a pre-nup, the companies said: Following extensive review, the two companies have arrived at a mutual and amicable agreement to concentrate on their existing development paths – which may also include working with current or new partners. Continue reading
Pennsylvania Sues Carlisle to Stop Swap Meet
Carlisle Events appears to be in a tenuous legal position since it asked for a waiver on June 9, 2020, according to the suit. Then never filed a response to inquiries about how guidelines would be followed. Continue reading
Posted in economy, environment, litigation, news analysis, people, safety
Tagged auto industry commentary, autoinformed.com, Carlisle Swap Meet, COVID-19, Ken Zino
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Fed – May Retail Sales Far Below Earlier Levels
The extent of the downturn and the pace of recovery remain extraordinarily uncertain and will depend in large part on our success in containing the virus. We all want to get back to normal, but a full recovery is unlikely to occur until people are confident that it is safe to reengage in a broad range of activities,” Powell warned today after a meeting of the board of governors. Continue reading
Chattanooga Motorcar Festival on Schedule
“We are continuing our plans and preparations to hold our second Chattanooga Motorcar Festival this October with the expectation that all businesses will be operating by then and sporting events will be back on schedule, so that we can all enjoy the many activities that bring us together,” said DeFoor. Continue reading
FCA Delivers Two 4xe Jeep Renegades to RSE
The data gathered during the tests will be highly significant – it’s hoped – for FCA technicians, who may receive an amount of information in a short period of time that would only have come to light after a much longer period of usage by customers. Continue reading
Academy Awards Delayed Again to April 2021
A feature film must now have a qualifying release date between January 1, 2020 and February 28, 2021. Continue reading
COVID-19 Ups Auto Use, Mass Transit Drops
An unintended but not surprising effect of the COVID-19 plague see the use of mass transit plummeting as driving use remains resilient, consultancy LMC reports this morning, “As US states and European countries come out of lockdown, a pronounced preference … Continue reading
NASCAR Finally Bans Confederate Traitors’ Flag at All Races, Venues and Properties
I know that if you ask NASCAR about what it has actively done to integrate the sport and its businesses over the decades – once you get past the self-interested ticket sales of its minority policies – and the deeds are sparse. Continue reading
Penske Automotive – May Business Improving
“Since the COVID-19 pandemic began impacting operations in the second half of March, we took actions to reduce costs and preserve our liquidity position. Based on these actions, I expect further improvements to our operating results in June and into the second half of the year as the economy continues to recover,” said Penske Automotive Group CEO Roger Penske. Continue reading
Posted in economy, news analysis
Tagged auto industry commentary, autoinformed.com, COVID-19, Ken Zino, penske automotive group
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May US Budget Deficit, Gulp, $424 Billion
The federal budget deficit in May was $424 billion, about double the amount in the same month last year, the Congressional Budget Office estimates. That increase stems from the economic disruption caused by the 2020 corona virus pandemic and from … Continue reading
Commerce, HHS, FDA to Fight Online Opioid Sales
Under the program, the National Telecommunications and Information Administration (NTIA) and the U.S. Food and Drug Administration (FDA) will work with three domain name registries, Neustar (.us), Verisign (.com, .net) and Public Interest Registry (.org), to suspend the domain names of websites found to be illegally selling unapproved opioids. Continue reading
Posted in people, safety
Tagged auto industry commentary, autoinformed.com, DOC, Kenneth Zino, opioids, US Food and Drug Administration
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Ford Embraces Paris Climate Agreement Globally
This promise came as Ford released its 21st annual Sustainability Report. Ford is also working with California for stronger vehicle greenhouse gas standards. Ford did not mention its current financial crisis that resulted from the Corona virus plague. Continue reading →