Tag Archives: auto informed

Chinese Auto Industry Initial Quality at All Time High

Posted on 4 November 2012 by Ken Zino

Chinese automakers made large improvements in initial quality during 2012, narrowing the gap between domestic and international brands. As a result, the auto industry in the world’s largest auto market set a record low in overall average problems per vehicle. Continue reading →

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Hyundai and Kia Caught in EPA Mileage Rating Fraud

Posted on 2 November 2012 by Ken Zino

The U.S. Environmental Protection Agency (EPA) today announced that Hyundai Motor America and Kia Motors America will lower their fuel economy (mpg) estimates for the majority of their model year 2012 and 2013 vehicles after EPA testing found “discrepancies” between agency results and data submitted by the company. The fraud produced mileage claims that could be as much as 6 mpg higher than EPA tests showed. About 900,000 vehicles are affected in the largest mileage scam to date. Continue reading →

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New 2014 Lincoln Compact SUV Caught by Jim Dunne

Posted on 1 November 2012 by Ken Zino

Look at what Lincoln is planning for the small SUV market of 2014. The 2014 Lincoln prototype is based on the all-new 2013 Ford Escape architecture – wheelbase, drive train, 2-/4-wheel drive, 5-place seating, maybe a turbocharged four-cylinder engine, with its alleged fuel economy advantages? Continue reading →

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General Motors U.S. Sales Increase 5% in October

Posted on 1 November 2012 by Ken Zino

General Motors Company today reported October sales in the United States of 195,764 vehicles, an increase of 5% compared to October 2011. Overall industry growth was 7% for the month, and the industry is running at a seasonally adjusted annual rate or SAAR of more than 14 million retail units. GM’s year-over-year sales to retail customers were up 7%, and sales to fleet customers were down 2%. Continue reading →

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Ford’s Mulally to Remain as President CEO through at Least 2014

Posted on 1 November 2012 by Ken Zino

Ford Motor Company Executive Chairman Bill Ford said today that Alan Mulally plans to continue to serve as Ford president and CEO through at least 2014. Mark Fields was named the company’s chief operating officer effective 1 December. The announcement has industry observers debating whether Fields is ultimately talented enough to lead the U.S.’s second largest automaker. Fields will continue to report to Mulally, as will the company’s chief financial officer, general counsel and group vice president of Human Resources and Corporate Services. Continue reading →

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Ford Motor U.S. Sales Flat in October – Second Month on Hold

Posted on 1 November 2012 by Ken Zino

Ford Motor Company posted weak sales of 168,456 total vehicles in October, unchanged from a year ago in an industry that grew more than 8%. Retail sales were up 2% compared to last year. It was Ford’s second straight no-growth month of the year. Continue reading →

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Chrysler Group U.S. Sales Up 10% in October

Posted on 1 November 2012 by Ken Zino

Chrysler Group today reported U.S. sales of 126,185 units, a 10% increase compared with sales in October 2011 (114,512 units) It was the Group’s best October sales since 2007, and it appeared inline with industry growth of 8% based on preliminary numbers. Continue reading →

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Ally Financial Repays $2.9 Billion of FDIC Debt

Posted on 31 October 2012 by Ken Zino

Ally Financial today announced it has repaid $2.9 billion in debt issued under the FDIC’s Temporary Liquidity Guarantee Program (TLGP). The bank holding company issued this debt on 30 October 2009 with a maturity date of 30 October 2012. The final Ally debt guaranteed under the TLGP will be repaid in December 2012 and totals $4.5 billion. Continue reading →

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Nissan Canada Head Retires, Prompting Changes in the Americas

Posted on 31 October 2012 by Ken Zino

Nissan today announced that Allen Childs will retire as president, Nissan Canada, following two decades with the company. He will be replaced by Christian Meunier, currently president, Nissan Brazil, who will become president of Nissan’s third largest market in the Americas. Continue reading →

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General Motors Posts Q3 Profit of $1.5 Billion, off -$200 Million. Ideologues Out in Full Force for Halloween and the Election

Posted on 31 October 2012 by Ken Zino

General Motors Co. (NYSE: GM) today announced third quarter net income of $1.5 billion, a drop of -$200 million from the same period in the prior year. This works out to $0.89 per share including special items, which reduced net income by $100 million and cut earnings per share by $0.04. In the third quarter a year ago, GM’s net income was $1.7 billion or $1.03 per share. The results represent a turnaround especially in view of Q1 of 2009 when GM lost almost -$10 per share.

In spite of wild claims – critics say deliberately false – from the repudiated Republican right about the auto bailout, GM is not going bankrupt. GM’s debt-to-equity ratio is only 25% of the overall auto industry average, and it now has more than $37 billion in liquidity. GM in the context of the current travails of the global auto industry is performing reasonably well. Continue reading →

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Fiat Group Doubles Q3 Profit to €286 Million. Revenue €951 Million

Posted on 30 October 2012 by Ken Zino

The Fiat Group in Turin today recorded a Q3 profit of €286 million or $371 million (2011 €112 m) as Chrysler earnings in North America offset losses in Europe. Without Chrysler, Fiat would have lost -€281 million in the quarter. Continue reading →

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NHTSA Forces BMW 7-Series Recall for Electronic Shifter Rollaways

Posted on 30 October 2012 by Ken Zino

BMW is recalling 2005-2008 7-Series vehicles equipped with the so-called Comfort Access option because the electronic key and shift by wire system can put the transmission in Neutral rather than Park. The recall, which affects more than 45,000 BMWs, came after NHTSA ungraded a preliminary inquiry to an engineering analysis last August. At that time NHTSA said that at least 14 accidents and five injuries had been reported with the start/stop “shift by wire” system in BMWs. Continue reading →

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Ford Motor Posts $1.6 Billion Profit in Q3. Europe Loses $468 Million

Posted on 30 October 2012 by Ken Zino

Ford Motor Company said today that Q3 profits were $1.6 billion based on revenues of $32.1 billion. Q3 pre-tax profit was $2.2 billion, or 40 cents per share, an increase of $200 million from Q3 2011. Ford Credit reported a pre-tax profit of $393 million, a decrease of $188 million from third quarter 2011. The positive results, as they have for years now, came almost entirely from North America, which achieved its highest quarterly profit, pre-tax $2.3 billion and operating margin 12%, since 2000 when the Ford Motor started reporting the region as a separate business unit. Continue reading →

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Chrysler Group Posts Q3 Profit of $381 Million

Posted on 29 October 2012 by Ken Zino

Chrysler Group today reported a Q3 profit of $381 million, an increase of an increase of 80% from Q3 a year ago, based on revenue of $15.5 billion, up 18% from $13.1 billion. For the first nine months of the year, Chrysler Group (1) posted net revenue of $48.6 billion, up 22% from the same period a year ago, as its recovery from bankruptcy continues. Cash at quarter-end was $11.9 billion compared with $9.5 billion a year ago and $12.1 billion on 30 June 2012. Cash flow for the quarter was a -$65 million compared with -$699 million a year ago. For the first nine months of 2012, Free Cash Flow was $2.5 billion. Continue reading →

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Honda Motor Makes ¥82 Billion in Japanese Q2, Cuts Forecast 20%

Posted on 29 October 2012 by Ken Zino

Honda Motor Company’s net profit rose 36% to ¥82 billion or ~$1 billion in the Japanese fiscal year Q2 that ended 30 September the company said in Tokyo. An average ¥79:$1 was attained during the quarter. Honda sold 3.9 million motorcycles, 1 million automobiles, and 1.3 million power products during Q2. Promotional and startup costs for the new Accord, which just went on sale in the U.S., and a government prodded Chinese boycott of Japanese cars because of a territorial dispute over some islands, cut the results. Continue reading →

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