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Tag Archives: auto industry commentary
Once Unthinkable. New Supercars from Nissan, Toyota
The GR Supra GT4 EVO will make its competitive debut in January 2023 at the 24 Hours of Daytona, the first round of the IMSA Michelin Pilot Challenge season. A ready-to-race GR Supra GT4 EVO will be priced at €186,000 (~$184,771) excluding taxes, customs and logistics fees. Toyota Gazoo Racing engineers have and will continue to provide track support to customer teams and drivers against entries from Aston Martin, BMW, Mercedes AMG, Porsche and Ferrari, among others. Continue reading
Ford Motor Posts Q3 Net Loss of $827 Million
During Q3, Ford decided to shift its capital spending from the L4 advanced driver assistance systems being developed by Argo AI to internally developed L2+/L3 technology. The move was forced on Ford when Argo AI failed to attract new investors. Ford recorded a $2.7 billion non-cash, pretax impairment on its investment in Argo AI, resulting in an $827 million net loss for Q3. Adjusted earnings before interest and taxes were $1.8 billion, higher than the $1.4 billion to $1.7 billion the company estimated in September. Quarterly revenue was $39.4 billion, up 10% from a year ago. Continue reading
Posted in financial results, news analysis, results
Tagged Argo AI, auto industry commentary, autoinformed.com, Ken Zino
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GM Has Enough Renewable Energy for all US Sites by 2025
It’s the latest move in the climate wars by automakers that no longer deny the real damages incurred by fossil fuel use. By using renewable energy, GM aims to avoid 1 million metric tons of carbon emissions that would have been produced between 2025 and 2030. This equals the emissions produced by burning 1 billion pounds of coal. Continue reading
Another Kia Sportage Recall for Fires in ABS System
Kia “strongly urges owners of these vehicles to park their cars outside and away from homes and other structures until their vehicles have been repaired.” Continue reading
GM Earns $4.3 Billion in Q3 2022
“This keeps us on track to deliver our third consecutive year of full-size pickup leadership, and our 22nd year as the full-size SUV leader. To build our truck leadership and help maintain our strong margins, Chevrolet and GMC recently unveiled new mid-size and heavy-duty pickups that will launch next year,” said GM chair and CEO Mary Barra. Continue reading
Posted in economy, electric vehicles, financial results, news analysis
Tagged auto industry commentary, autoinformed.com, bolt, cruise, GM, GM Q3 2022 earnings, Ken Zino
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BYD Toyota EV Technology Company Debuts bZ3 EV in China
It’s a risky strategy that has proven successful so far, but doing business with totalitarian governments can cause disastrous consequences as Putin’s war on Ukraine demonstrated for European companies doing business in the region. Continue reading
Renault Group Q3 – 20% Increase in Revenue at €9.8B
The Group’s orders in Europe remains at an historic level – the same in volume compared to the end of June. Renault Group also confirmed its 2022 financial outlook*, which will probably meet with analyst skepticism given the ongoing economic crisis in Europe and the negative global effects of Putin’s war against Ukraine. Balancing this is a renegotiation of the Alliance with Nissan, which could bring Renault ~$3.3 billion if it cuts it stake to 15% from 43%. Continue reading
GMC Debuts Electric Sierra Pickup
GMC will likely be the only US brand to offer three all-electric trucks, with the Sierra EV joining the GMC HUMMER EV Pickup and SUV2. Underpinning these three trucks is GM’s Ultium Platform, which enables versatility and claimed optimal performance in an all-electric truck. Continue reading
EPA Hydrofluorocarbon Rule Attacks Global Warming
The proposal follows the Senate’s bipartisan ratification of the Kigali Amendment to the Montreal Protocol, a global agreement to phase down HFCs and avoid up to 0.5-degrees Centigrade of global warming by the end of this century. It’s the latest step in assuring US Global Leadership on fighting Global Warming and Extreme Climate Change, which are people, jobs and planet killing. Continue reading
Statistical Quirks Show September EU Car Sales up 10%
This is really a mathematical quirk since the “increase” came from a low base of comparison from September 2021, when the semiconductor shortage hindered vehicle production. This is an economic calamity because 12.7 million Europeans work in the auto industry, directly or indirectly, comprising 6.6% of all EU jobs. Moreover, 11.5% of EU manufacturing jobs, ~3.5 million, are in the automotive sector. Motor vehicles are responsible for €398.4 billion of tax revenue for governments within key European markets. Continue reading
Posted in economy, sales
Tagged acea, auto industry commentary, autoinformed.com, EU Passenger car sales, Ken Zino
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BMW Group to Spend $1.7B to Make Electric Vehicles in US
The new Woodruff factory will encompass over 1 million sq. ft. and produce next generation batteries for fully electric vehicles. About, and 300 new jobs will be created on site. Plant Spartanburg currently produces lithium-ion battery modules for the two plug-in hybrid electric vehicles built at the plant, the BMW X3 xDrive30e and BMW X5 xDrive45e. In 2021, ~70,000 electrified BMWs were built on site. Continue reading
Toyota Auto Insurance Adds Texas
Toyota of course is not alone. At least 18 automakers have started insurance products based on telematics using connected car capabilities to determine rates. Continue reading
Tony Spiteri Named General Manager of NASCAR Canada
NASCAR Pinty’s Series races at some of the most famous tracks or prominent Canadian backdrops such as, including Canadian Tire Motorsport Park (CTMP) during the track’s traditional Victoria Day weekend event, the streets of Toronto and the historic Grand Prix Trois Rivieres (GP3R). In addition, the series made its dirt debut at Ohsweken Speedway earlier this year as well as a trip to Eastbound International Speedway as part of Newfoundland and Labrador’s Come Home 2022 celebration, the series’ first race in the province. Continue reading
Posted in marketing, racing
Tagged auto industry commentary, autoinformed.com, Chad Seigler, Ken Zino, NASCAR Canada, Pinty’s Series
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Renault at Paris Motor Show – Vague Marketing for Unique Cars
There so much history here, it’s tough to know where to concentrate on the most significant. AutoInformed arbitrarily picks the Kango because it caught Ford of Europe napping 25 years ago while Renault was transiting, so to speak, into the leisure activity vehicle segment. With its pragmatic design and a sliding side door for the first time, Renault Kangoo merged two segments in Europe – a roomy car for families, and a work vehicle with a large-sized boot, err trunk, and durability for professionals. Renault has sold 4 million of them in 50 countries. Renault Kangoo is now available in an E-Tech Electric version for the first time in its history. Continue reading
Stellantis Hordain to Build Hydrogen-powered, Electric and Combustion Engine Commercial Vehicles
Starting in 2024, the site Hordain will have a mini-mass production capacity of 5,000 vehicles per year of hydrogen-powered utility vehicles. This Stellantis said in a release reaffirms its goal to be the first mass-produced manufacturer of hydrogen-powered utility van vehicles. There is also a labor relations aspect to the move. Stellantis has 12 industrial sites in France, and unlike Ford Motor Company it has a stated “ethical desire not to separate its electric and internal combustion engine businesses, to engage all its employees in the energy transition.” Continue reading →