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Tag Archives: auto industry commentary
July US Light Vehicle Sales Still Stalled
“July sales were slightly behind the June volumes, but not all OEMs were that stable. GM lost more than 20,000 units, and it was outsold by Toyota for the first time since January. On the positive side, Ford, Mazda and Toyota gained the most volume from June. Toyota remained the bestselling brand, but its lead over Ford shrank considerably this month. Continue reading
Posted in economy, results, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, lmc automotive
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FCA Emissions Fraud: Accountability or Accountancy?
Whether this accountable enough or not is subject to debate. Critics say that this is just cash register justice whereby wealthy corporations buy their way out of criminal trouble and recover the costs through ongoing operations. Defenders point to the amount – a $300M criminal penalty – along with the organizational probation where FCA will be monitored for its regulatory behaviors. There are also outstanding individual criminal cases.
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GM Expanding Super Cruise Hands-Free Driver Assistance
Super Cruise accelerates or brakes the vehicle to maintain a selected following gap from a vehicle ahead, steers to maintain lane position, and on some models when offered, can perform both driver and system-initiated lane changes to pass slower traffic and to move from a lane that may be ending, while monitoring the driver’s head position and/or eyes in relation to the road to help ensure driver attention. Continue reading
Back to School – E Before Q at MBUSA
The program is hosted in Alabama and will provide a three-day training session designed to educate, and electrify Mercedes-Benz team members nationwide. Continue reading
Stellantis: $99 Million for New Engine at Three N.A. Plants
“Today’s $83 million investment from Stellantis at the Dundee Engine Complex is a win for our auto workers and will help us secure the future of hybrid and electric vehicle manufacturing right here in Michigan,” said Governor Gretchen Whitmer of Michigan. Continue reading
Renault Group: Sales Drop, Revenues Even, Margins, Profits Up
“These first half results are a proof of this: despite all the headwinds related to the stop of the activity in Russia, the semiconductor crisis and cost inflation, the Group continues to improve its operating performance and is beginning to benefit from the success of new launches,” Renault Group said. Continue reading
Flo~Pro Performance Exhaust To Halt Sales of Defeat Devices
The complaint, filed simultaneously with the consent decree, alleges that the parts described below are “defeat devices” prohibited by the CAA. The Environmental Protection Agency (EPA) estimates that prior to its 2018 investigation, Flo~Pro manufactured or sold more than 100,000 aftermarket defeat devices in the United States per year. In early 2019, Flo~Pro suspended sales of the defeat devices in the United States in an effort to resolve this matter. The consent decree for this settlement was lodged in the U.S. District Court for the Western District of Arkansas and will be open for public comments for a period of 30 days. Continue reading
Stellantis: Record First Half 2022 at €8.0 Billion Net Profit
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA), the mega merger of FCA and Peugeot, posted record profitability during the first half or 2020 because of increasing sales of low emission vehicles (LEV), which include battery electric (BEV), plug-in hybrid (PHEV) and fuel cell electric vehicles. Stellantis said it ranked second in the EU30 market for BEV and LEV sales) and third in the U.S. market for LEV sales. Stellantis’ global BEV sales were up nearly 50% y-o-y to 136k units in H1. The Company now offers 20 BEVs, with an additional 28 BEVs to be launched through 2024. Continue reading
Police Pickup: 2023 Ford F-150 Lightning Pro SSV
Ford, which is badly behind in EV sales and development – it made 14,000 EVs in June – has an opportunity here. Ford has been providing police departments with the than 70 years. Ford Pro customers include more than 12,000 police departments across the country now. Ford said “its police vehicle lineup outsells all other police vehicles combined1. The company attributes this success and customer loyalty to the automaker’s close collaboration with its customers through the Ford Police Advisory Board. Continue reading
Posted in new vehicle, news analysis
Tagged auto industry commentary, autoinformed.com, Ken Zino
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Ford Motor Posts Good Earnings But Weak Net Income
However, Ford’s net income was $667 million, a margin of 1.7%, which included a mark-to-market loss of, gulp, $2.4 billion on Ford’s stake in Rivian. Ford is also in the process of slashing costs under its latest restructuring plan, but refused to comment on pending job cuts, which are being reported as around 8000, only to confirm that there are too many people employed at Ford. Continue reading
Posted in financial results, news analysis
Tagged auto industry commentary, autoinformed.com, ford earnings, Jim Farley, Ken Zino
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US July Sales Forecast Down. Prices, Profits Still Records
Total new-vehicle sales for July 2022, including retail and non-retail transactions, are projected to reach 1,159,700 units, a 5.7% decrease from July 2021. Comparing the sales volume without adjusting for the number of selling days translates to a decrease of 9.2% from 2021. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.7 million units, down 0.9 million units from 2021. Continue reading
Penske Automotive Group: Record Q2 Earnings of $500 Million
Penske Automotive Group, Inc. (NYSE: PAG) today said it set all-time record quarterly earnings during Q2 of 2022 as earnings before taxes increased 8% to $500 million. Income From Continuing Operations increased 10% to $374 million. Earnings per share increased … Continue reading
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, Ken Zino, pag Q2 2022, roger penske
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NHTSA: Investigation on Sudden Bronco Engine Failures
It the latest example of ongoing Ford Motor quality problems and safety defects. Ford said during the Bronco introduction: “The all-new Bronco® two- and four-door traditional midsize SUVs represent the flagship models for the Built Wild™ Bronco brand and are ready to deliver thrilling off-road experiences with their heritage-inspired style, rugged engineering and smart off-road technology.” Continue reading
Toyota Motor FY Q1 Profit Drop Spooks Market
Aside from the well-known semiconductor problems, Covid lockdowns in Shanghai and other parts of Asia, as well as flooding in South Africa hurt the results. Toyota shares fell -3.45% after it released its earnings report, which showed a 42% year-over-year drop in operating profit, but recovered slightly to close down -2.99%. The Nikkei average share closed up 0.69% at ¥27,932.20 and even topped the ¥28,000 mark. Continue reading →