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Tag Archives: COVID-19
Stellantis to Repay Early €6.3B Fiat Credit Facility
The credit facility, entered into in June 2020, was structured to support the restart and “transformation of Italy’s automotive sector” after the COVID-19 outbreak rocked the automotive world and its establishment. Continue reading
Ford DIY COVID-19 Air Filtration Kit?
The study found that box fan air cleaners like this can serve as an effective low-cost alternative for mitigating airborne transmission risks in poorly ventilated spaces. In addition to the peer-reviewed article, research conducted by Well Living Lab, founded as a collaboration between Delos and Mayo Clinic, found similar air purifiers were effective at improving air quality in poorly ventilated areas. Continue reading
Census Bureau – 26% of Adults Struggle on Expenses
Of pressing concern – adults living in households not current on rent or mortgage, 30.6% report eviction or foreclosure in the next two months is somewhat or very likely. Continue reading
Posted in economy, people
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, Ken Zino, U.S. Census Bureau
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Herd Immunity? Toyota Motor Reports $9.87 Billion Q3 FY 2021 Profit. Ups Forecast by +54%
Toyota Motor, the world’s largest automaker posted a $9.87 billion Q3 FY Profit compared to $9.45b during the same period one year ago, in what appears to be Toyota herd immunity from the Covid-19 virus and variants that are killing other automakers. As a result of the strong showing upholding Akio Toyota’s vow to remain profitable despite the ongoing Global Pandemic, Toyota increase its yearly forecast by 54%. Toyota now predicts a record operating profit $19.13 billion (¥2 trillion), surpassing an earlier projection of ¥1.3 trillion. Continue reading
Nissan Losses ¥37.8 Billion in Q3. Alliance Still Shaky
As for the unstable Alliance post-Ghosn, “Nissan’s results during the Q3 of fiscal year 2020/2021 (October 1st to December 31st 2020), after IFRS restatements, will have a negative contribution to Renault’s Q4 2020 net income estimated at – €123 million,” Renault said in a separate release. Continue reading
Posted in economy, financial results, results
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, Ken Zino, Nissan Alliance
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BMW Says It’s Solvent, Marginally Profitable During 2020
The positive operating result of the Automotive segment in the fourth quarter is partially due to “better than expected re-marketing results in the pre-owned car market.” This of course has a positive effect in the Financial Services segment, leading to a Return on Equity for the segment which is only slightly down on prior year as opposed to a moderate decline as indicated in the current outlook. However, the EBIT margin in the Automotive Segment for the full year 2020 is at the “upper end of the 0 – 3% corridor.” The Group EBT remains within the outlook and in line with market expectations. Continue reading
November EU Commercial Vehicle Sales Flat. YTD -20%
Year-to-date reflects the ongoing Covid catastrophe. Sales at 1.5 million units were down -20.3% 11 months into 2020. All EU27 markets – including the four major ones – have recorded double-digit declines so far in 2020, although less steep than in the preceding months: Spain (-28.4%), France (-18.4%), Germany (-16.3%) and Italy (-15.6%). Continue reading
Posted in economy, sales
Tagged acea, auto industry commentary, autoinformed, autoinformed.com, COVID-19, eu commercial vehicle sales, Ken Zino
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Federal Reserve President on Do Nothing Republicans – The Economy Goes Where The Virus Goes
“Fiscal support is really critical. When Congress came out with the CARES Act, we saw immediately how that cushioned households and small businesses and helped them get through the virus. The virus is still with us, so more is needed. … If we don’t get that, then this is a mini fiscal cliff, maybe even a major fiscal cliff… Continue reading
Covid Casualties – GM US Q3 Sales Drop Year over Year
GM tried to spin the weak Q3 as the Seasonally Adjusted Selling Rate – aka SAAR – was ~15.9 million vehicles for the quarter, up about 4 million units from the previous disastrous pandemic quarter. Mention was made of the pent-up demand effect that started at the end of Q1 continuing through Q2 as the economy was mimicking the Great Depression because of the Covid shutdown. Continue reading
Posted in economy, environment, sales
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, gm sales, Ken Zino
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Global Auto Business Threatened by Covid Second Wave
While the past isn’t a 100% sure predictor of the future, “A second wave and stricter social controls pose a large risk to our central forecast” LMC notes in its latest analysis. LMC projects that 2020 global assembly plant use is expected to fall to the lowest level ever recorded – just 51%. The pandemic-caused shutdowns during March and April had a profound impact on both the volume and use of plants globally. Continue reading
Making America Late Again – NAIAS to September 2021
NAIAS will remain a fall show going forward after the inaugural event in September 2021. Show dates have been secured with TCF Center for the next three years. NAIAS organizers choose dates towards the end of the month because of the new IAA in Munich, which is scheduled for the first full week in September. NAIAS has had a troubled relationship with German automakers. The NAIAS move in our view is defensive with a yet unknown outcome. Continue reading
2020 Muscle Car and Corvette Nationals Cancelled
“We know that we have all been hoping for the best, but with the uncertainty and the current State of Illinois limitations regarding spectators at indoor events, it is not feasible to continue with the show this year,” said MCACN Managing Member, Bob Ashton. Continue reading
Posted in aftermarket, economy, environment, performance
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, Ken Zino, MCACN
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This Grim Picture is Not Worth a 1000 Corona Deaths
The United States accounts for 22% of the Global Corona Virus Deaths with a mere 4% of the world’s population. Fear the Trump Administration if you care for your own o ranyone else’s health and safety. Continue reading
Most Say COVID Restrictions Nixed Too Quickly
As a growing number of states struggle with a drastic rise in corona virus cases, 69% of Americans say their greater concern is that state governments have been lifting restrictions on public activity too quickly. Continue reading
US Scheduled Airline Passengers Up Under Biden
During 2019, the last full calendar year before the onset of COVID-19 and the botched Trump Administration non- or anti-response, domestic flights accounted for 88% of all passengers, and international flights accounted for 12%. During 2021, domestic flights accounted for 91% of all passengers, and international flights accounted for 9%. Continue reading →