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Tag Archives: Bidenomics
Record Consumer Spending Spurs US November Sales
“November results indicate a robust performance with double-digit year-over-year sales growth and record consumer expenditures for the month. The consumer expenditure record was due to strong sales growth, which outweighed a 1.9% decline in transaction prices,” said Thomas King, president of the data and analytics division at J.D. Power. “Sales growth is being enabled by improving vehicle availability. Despite the nearly six-week UAW work stoppage, retail inventory levels in November are expected to finish around 1.6 million units, a 7.5% increase from last month and 43.7% increase compared with November 2022, but still over 40% below pre-pandemic levels, King said. Continue reading
US Airline Employment Above Pre-Pandemic Levels
US scheduled-service passenger airlines employed 533,238 workers in September 2023 or 66% of the industry-wide total. Passenger airlines added 2938 employees in September 2023 for a twenty-ninth consecutive month of job growth dating back to May 2021 as the Biden Administration economic recovery continues. Southwest led scheduled passenger carriers, adding 882 employees. United Air Lines added 736, and Delta Airlines added 708. Continue reading
Michigan Wins Clean Hydrogen Hub Funding
Governor Gretchen Whitmer (D-MI) today announced that a Michigan-backed clean hydrogen hub project, the Midwest Alliance for Clean Hydrogen (MachH2) has been awarded up to $1 billion by an awakened US Department of Energy to develop regional supply chains for the production, distribution, and use of hydrogen in trucks and heavy-duty vehicles. The project is projected to create ~13,600 direct jobs, 12,100 in construction jobs and 1,500 permanent jobs. Michigan was recognized as the top state in the Midwest for clean energy jobs in the Clean Jobs America report from Environmental Entrepreneurs released in September 2023. Continue reading
Automakers Want US Taxpayer Subsidies for Aluminum
The letter was published on a website and in full page ads in five newspapers: The Albany Times-Union, The St. Louis Post-Dispatch, The Louisville Courier-Journal, the South Carolina Post and Courier, and the Indianapolis Star. Not coincidentally each newspaper is in a market with one of the remaining six primary aluminum smelters. The letter was also accompanied by a digital ad campaign and mobile takeover on Politico. The power of big special interest money is once again in play, and at least this time subject to public scrutiny and challenges by some as socialism or woke-ism for the one-percenters. Continue reading
What Strike? September US Vehicle Market Grows Sharply
US light vehicle (LV) sales grew by 19.7% year-on-year (YoY) in September, to 1.34 million units, according to the latest analysis by the respected GlobalData consultancy. The UAW Big Three Strike that began halfway through September has thus far had little apparent effect. However, YoY comparisons are supercharged because of a low base of weak September 2022 sales. Ironically, Labor Day sales appears to bolstered sales. Continue reading
Labor Day – UAW Struggles Are Key to The American Dream
Let us pause here to remember and reflect on Walter P. Reuther (1907 – 1970). “There is no greater calling than to serve your fellow man. There is no greater satisfaction than to have done it well,” he famously said. Reuther built the United Automobile Workers into one of the most awakened and progressive forces in American history. A fierce champion of collective bargaining, Reuther also had a much larger vision of the American society then many of our mere politicians. He viewed the labor movement in the context of community – the whole community. Led by him the UAW fought for civil rights, health care, affordable housing, environmental protections among other things. Continue reading
US August 2023 New Vehicle Sales Forecast up 15%
Bidenomics is clearly working in AutoInformed’s point of view. The latest data show a continuing trend that started after President Biden was elected and began a recovery from the economic reverses and job losses from the Trump Administration. Trump was the first president since Herbert Hoover who left office having presided over an the Great Depression economic disaster and with far fewer jobs than existed at the outset. Continue reading
EPA Celebrates Inflation Reduction Act Anniversary
The US Environmental Protection Agency (EPA) today is marking what it says is one year of progress implementing President Biden’s Inflation Reduction Act, the most ambitious climate law in U.S. history and a core pillar of Bidenomics and the President’s Investing in America Agenda. Since the legislation was signed into law, EPA has put an historic $41 billion to work to reduce emissions, build a clean economy, lower energy costs for American households and businesses, create good-paying union jobs, and advance environmental justice across the country. Continue reading
Honda Q1 FY2024 Profits Double – Stock Split Coming
A 3-for-1 stock split effective September 30th has been approved by management. Calculating on the current number of shares (~165,000,000) , the year-end dividend and the total annual dividend for fiscal 2024 are forecast at ¥75/share and ¥150/share. In current Tokyo trading the stock is up ~6% within ¥30 to its all-time (¥4,723) high posted in 2006. Continue reading
Bidenomics – Sales Soaring as US Auto Market Ends 2023
“December has traditionally been a good time of year to buy a vehicle as automakers seek to hit year-end targets, but that had been less true in recent years amid tight inventory levels. However, with stocks now significantly replenished across the industry, discounting was back on the agenda last month. Consumers who have been sitting on the sidelines appear to have been willing to jump back into the new vehicle market again, although it also seems that fleet deliveries accounted for some of the December surge,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading →