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Tag Archives: autoinformed
GM to Provide Financial Support to Fired Union Workers
GM’s November announcement impacts 2,600 hourly workers and approximately 340 salaried or contract workers at the Oshawa Assembly Plant once a crown jewel in the GM collection for its productivity, flexibility and quality. GM Canada will continue to discuss its announcements regarding Oshawa Assembly with Unifor, the union it has a no close contract with in force until the end of 2019. Continue reading
No Deal Brexit to Cost UK Auto Sector £9 Billion Per Year
It’s not only angry Trump voters who are self-destructive, the UK under the Brexit fiasco is about to lose £9 Billion a year due to a conservative Republican-like temper tantrum that will materially hurt middle class workers, as well as society as a whole. Continue reading
Posted in economy, financial results, news analysis, sales
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, Brexit, connected vehicles, honda, jaguar land rover, Ken Zino, lmc automotive, new vehicle reviews, nissan, psa group, toyota, UK light vehicle production, Vauxhall/Opel
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NADA 2019 Light Vehicle Sales Projected at 16.8 Million
Based on a strong November, new-vehicle sales are expected to reach 17 million units in 2018, which would mark the fourth straight year of U.S. auto sales above 17 million units. (see AutoInformed: Auto Loans – Payments Higher, Subprime Lending Lower. The Federal Reserve Board is likely to raise rates in December 2018. More rate increases are likely during the early half of 2019 and then rates are expected to hold.) Continue reading
Posted in economy, marketing, news analysis, results, sales
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, connected vehicles, Ken Zino, nada, NADA Chairman Wes Lutz, national automobile dealers association, new vehicle reviews, new-car dealers, Patrick Manzi, saar
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Honda R&D Americas Expanding Raymond Ohio
Workers at the Raymond, Ohio, R&D center – Honda’s second-largest R&D center in the world – are responsible for creating advanced technologies and automobile and powersports products for Honda and Acura customers in North America and global markets. Continue reading
IndustriALL Pressures Volkswagen Group to Engage with UAW or Else Face Suspension of its Global Contracts
However, instead of entering into bargaining with the union, Volkswagen has repeatedly taken legal action against the vote, including an appeal against the ruling of the National Labor Relations Board during August 2016, which ruled in favor of the UAW. Continue reading
Renault Board Investigation Backs Ghosn. Governance Measures Stay in Place. Compensation Controversy Ongoing
Their preliminary conclusion is that the compensation of Carlos Ghosn, Chairman and Chief Executive Officer of Renault and the conditions under which such compensation was approved followed applicable law as well as the recommendations of the *AFEP-MEDEF. The Board of Directors decided to maintain the current governance measures established on November 20, 2018. Continue reading
Posted in auto news, litigation, people
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, carlos ghosn, connected vehicles, corporate governance in France, ghosn, Groupe Renault, Kelly and Nissan Motor, Ken Zino, new vehicle reviews, Renault Nissan Mitsubishi Alliance, the Japan Financial Instruments and Exchange Act
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Global Light Vehicle Sales Fall Again in November
The Chinese LV market continues to slow down, “a major source of concern given the importance of this market to global sales.” Other regions are also struggling, with YoY losses in Europe and North America, though selling rates remain robust in North America. Continue reading
Aston Martin Valkyrie Cosworth V12 Rated at 1000 Horsepower
The program it’s claimed called for a normally aspirated engine. Aston notes, correctly, that while turbocharging has absolutely come of age and offers significant and widespread benefits, especially in road applications, what is arguably the greatest driver’s car of today needed an internal combustion engine that is the “pinnacle for performance, excitement and emotion.” Rationalization or reality here? Ultimately a peck of buyers will decide. Continue reading
Making the Budget Deficit Great Again. November at $203 billion. Interest for Debt up $5 Billion
Not that it matters according to traditional Republican double-speak, such gigantic deficits are only a problem if they occur when the Democrats are in power. When Republicans cut taxes for the wealthiest and run up huge deficits it’s – don’t laugh – good for the economy. Worse, the federal budget deficit was $303 billion for the first two months of fiscal year 2019, says CBO. Continue reading
Ghosn, Kelly and Nissan Motor Corp. Indicted for Violating The Japan Financial Instruments and Exchange Act
Thus – as predicted – this case, besides from revealing the rift between Nissan and its European partner Renault that saved it from bankruptcy, has cast a cold beam of light on Japanese corporate governance – or is that non-governance? – practices. Continue reading
Auto Loans – Payments Higher, Subprime Lending Lower
Some look to vehicle affordability trends – or lack thereof – as a driving force behind consumer choices. The monthly payments for new and used vehicles again reached record highs in Q3 – $530 and $381, respectively – and the gap between new and used monthly payments continues to widen, reaching $149. The difference between leasing and buying on roughly the top Ten sellers is about $100 a month less for leasing. The average loan is now 72 months, but consumers on average change vehicle every 34-36 months. Continue reading
Posted in customer satisfaction, financial results, marketing
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, automotive financing, connected vehicles, Experian’s Q3 2018 State of the Automotive Finance Market, Ken Zino, Melinda Zabritski, new vehicle reviews
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Restructuring Storm Building as Ford Announces Senior Retirements in Treasury, Product Development, Manufacturing
A couple of the exits are noteworthy for signaling that major disruptive actions are about to occur. For example – was Kent responsible for the addled brained idea that Ford would cut its dividend that Ford Family members depend on? Nevertheless, the pressure remains for Ford to cut costs and start once again, yet again on a restructuring plan. to increase shareholder value. Continue reading
Brick-Built McLaren in Central London PR Stunt
Consider that a new McLaren has been spotted during dynamic testing ahead of its introduction in January. The car’s brick-based construction has made it necessary for development to move from McLaren’s usual secret facility near Idiada in Spain to a busy LEGO Store in Central London. Continue reading
Ford Begins Construction at Michigan Central Station
The three-phase project begins with the winterization of the building to dry it out from extensive water damage it sustained over the years, and then stabilizing the structure. Phase two includes replacing mechanical and electrical systems and restoring exterior masonry. Continue reading
Porsche Commissions MAN eTruck for Green Logistics
In producing the eTruck for Porsche, MAN claims it passes another milestone on its e-mobility roadmap, according to which the first small series of the MAN eTGM is planned from early 2019. Continue reading →