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October 2024 US Light Vehicle Sales Up at 1.34 Million
Light Vehicle (LV) sales grew by 11.5% year-on-year (YoY) in October 2024, to 1.34 million units. Although the month had two additional selling days than it did in 2023, sales still exceeded expectations and provided a more cheerful perspective on the industry than has generally been the case in recent months, according to preliminary estimates released today by the respected GlobalData consultancy.
“Sales have generally disappointed for much of 2024, but October provided a pleasant change of pace. While the fundamentals of the market have probably not shifted to a great extent, some consumers appear to have been enticed by the gradual uptick in incentives, allied with greater vehicle availability and an easing in interest rates. A number of brands highlighted how Electric and Hybrid Vehicles performed better,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Posted in auto news, economy, manufacturing, marketing, news analysis, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration economic recovery, David Oakley, GlobalData, Jeff Schuster, Ken Zino, X @KenAutoinformed
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U.S. International Trade Deficit Up in September
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $84.4 billion in September, up $13.6 billion from $70.8 billion in August, revised. As the economy continues to expand, consumers are buying more raising the deficit. The news comes on Election Day where under new Trump Administration – if it returns – proposed tariffs by Trump will cost consumers billions upon billions of dollars, send the cost of living soaring and hurt the economy overall. Trumpa-nomics 2 the sequel: Tanking the Economy Again. Continue reading
Posted in customer satisfaction, economy, financial results, fools 'n frauds, labor issues, manufacturing, news, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, balance of trade, Chinese trade war, Ken Zino, Trump economics nonsense, Trump taxes on the working class, US Trade deficit, X @KenAutoinformed
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Conflicting China September 2024 Light Vehicle Sales
As of 25 September, according to the China Passenger Car Association (CPCA), more than 1.1 million vehicles were registered for scrapping and trading-in on the National Auto Trade-in Platform. The actual number of those that have resulted in new vehicle sales remains unclear. If they all did, it would imply that approximately half of the 2.1 million PV sales in September were subsidized. Moreover, auto exports are increasing their importance and significance for the Chinese auto industry. Thus the trade wars will continue. The Chinese government has told giant EV makers BYD, SAIC and Geely to halt investment plans in Europe. This will likely play out globally in other trade blocs and countries. Continue reading
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, China September2024 Light Vehicle Sales, Chinese EV trade war, GlobalData, GlobalData Asia-Pacific Light Vehicle Sales Forecasting Team, Ken Zino, X @KenAutoinformed
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Ford Motor Recalls a Transit Recall for Wheel Lockup
Ford Motor Company (NYSE: F) is recalling 2023-2024 Ford Transit vehicles previously repaired under recall number 24V-102. Incorrect bolts may have been used to attach the rear axle shaft, which can lead to the rear wheel locking up or separating from the axle, according to documents made public today by the National Highway Traffic Safety Administration. Continue reading
Posted in auto news, customer satisfaction, news analysis, recalls, safety
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ford Transit recall 24S05, Ford Transit recall 24S67, Ford Transit recalls, Ken Zino, National Highway Traffic Safety Administration, NHTSA 24V-805, NHTSA 24V805, X @KenAutoinformed
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Toyota Motor, Joby Aviation Meet at Toyota’s Technical Center
Toyota Motor Corporation and Joby Aviation executives came together at Toyota’s Higashi-Fuji Technical Center in Shizuoka, Japan on Saturday 2 November. Present were Akio Toyoda, chairman Toyota Group, and Joby CEO and founder, JoeBen Bevirt, along with Joby’s air taxi, an electric vertical takeoff and landing aircraft (eVTOL*). After its first flights in Japan on previous day, the plan was to get senior executives on board, so to speak.
However, the weather kept them on the ground. Nonetheless, their aspirations still soared upward. “Since its founding, Toyota has been working to realize a society in which everyone can move freely. About 100 years ago, in 1925, Sakichi Toyoda, founder of the Toyota Group, offered a prize to encourage the development of a storage battery that could provide enough performance ‘to fly an airplane across the Pacific Ocean.’ Since then, Toyota has continued to focus on the challenge of air mobility through the generations,” Toyota said in a release likely prepared when the Sun was shining. Continue reading
Posted in aviation, economy, environment, milestones, mobility company, news, news analysis, shows and events, transportation
Tagged akio toyoda, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, electric vertical takeoff and landing aircraft, eVTOL, FADEC, Higashi-Fuji Technical Center, JoeBen Bevirt, Ken Zino, Sakichi Toyoda, Shigeki Tomoyama, X @KenAutoinformed
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Asahi Kasei and Honda to Make Lithium-ion Battery Separators
Asahi Kasei Corp. and Honda Motor Co. in Toykyo this morning that they have signed a shareholders’ agreement to convert an existing Asahi Kasei subsidiary in Canada into a joint venture company. This agreement was reached as a result of continued discussions on collaboration for the production of lithium-ion battery separators in Canada based on the basic agreement announced on 25 April 2024. They plan to establish and start the operation of the joint venture company in early 2025, subject to obtaining permits and approvals from relevant authorities. Continue reading
Posted in news analysis
Tagged Asahi Kasei and Honda, Asahi Kasei Battery Separator, Asahi Kasei Honda Battery Separator Corporation, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, E-Materials Canada Corporation, Hipore™ separator business, Ken Zino, lithium-ion battery separators, X @KenAutoinformed
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Honda Racing to Sell Parts to Honda and Acura Consumers
Honda Racing Corporation USA (HRC US), the North American racing arm for Honda and Acura, today announced it will create a new business to produce performance parts for customer use for street, track and off-road applications. Formerly known as Honda Performance Development (HPD), HRC US will offer a new line of performance parts for retail customers.
“HRC US has been winning races and championships on and off road for three decades, and we’re excited to apply this experience to new lines of performance parts for Honda and Acura enthusiasts eager to augment their performance driving experience,” said Jon Ikeda, senior vice president, HRC US. “To be an HRC genuine part, it must meet our exacting standards, while functionally improving vehicle performance and the driving experience.” Continue reading
Posted in auto news, marketing, news analysis, performance, shows and events
Tagged 2024 SEMA automotive trade show, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, David Salters, Honda IndyCar, Honda Racing Corporation, Jon Ikeda, Ken Zino, Oracle Red Bull Racing RB20 Formula 1 car, X @KenAutoinformed
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IIHS – Latest 2024 Top Safety Pick Laggards
Four vehicles from four different brands fall short in one or more tests required for a 2024 Top Safety Pick or Top Safety Pick+ award in the latest ratings release today from the Insurance Institute for Highway Safety. To qualify for either award in 2024, vehicles need good ratings in the small overlap front and updated side tests, an acceptable or good rating in the pedestrian front crash prevention evaluation and acceptable- or good-rated headlights across all trim levels. Continue reading
Posted in auto news, awards, customer satisfaction, engineering, news analysis, safety
Tagged 2024 Acura ZDX, 2024 Honda Prologue, 2024 Top Safety Pick or Top Safety Pick+ award, 2025 Altima, 2025 Kia Sorento, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, the Insurance Institute for Highway Safety, X @KenAutoinformed
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For The Record – Corvette ZR1 Hits 233 MPH
The 2025 Chevrolet Corvette ZR1* is now the fastest car ever built by an American auto manufacturer. At a test track in Germany earlier this month, General Motors (NYSE: GM) President Mark Reuss drove a 2025 Corvette ZR1 233 mph, setting a top speed record for any current production car priced under $1 million. The Corvette team set this two-way average speed on the northbound and southbound straightaways of the High-Speed Oval Track at ATP Automotive Testing Papenburg.
“Setting the top-speed record in the Corvette ZR1 is a true triumph for Corvette and for Chevrolet, and also an exhilarating, surreal experience for me personally,” said Reuss. “With the current generation’s switch to mid-engine, we knew the outstanding performance and balance made this a real possibility. To go over there and get it done is a testament to the power of ZR1, and to the incredibly talented team that developed and built it.” Continue reading
Software Defined Vehicles – NTT, Toyota Motor Link Together
NTT and Toyota Motor Corporation said today in Japan that they have agreed toa joint initiative in the field of mobility and AI/telecommunications with the aim of realizing a society with zero traffic accidents. (read Ken Zino of AutoInformed.com on: Connected Cars – Toyota and NTT Want Standardization)
“Through their previous collaborations, the two companies have confirmed that they share common values, such as contributing to society through technological and industrial development, a people-centered approach, and global contributions that start in Japan. This time, they will further deepen their collaboration with the aim of achieving a ‘society with zero traffic accidents’ as the first step towards realizing a prosperous mobility society where safety and freedom are in harmony,” the release said. Continue reading
Posted in auto news, connected vehicles, customer satisfaction, mobility company, news analysis, public health, safety, software defined vehicles, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, human mobility infrastructure, IOWN optical communication technology, Ken Zino, Mobility AI Platform, NTT and Toyota Motor Corporation, X @KenAutoinformed, zero traffic accidents
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Valero Refining Company Fined $82 Million in California
The penalty arises from a 2019 inspection that found unreported emissions from the facility’s hydrogen system containing harmful organic compounds in violation of Air District regulations. These organic compounds contributed to the Bay Area’s regional smog and particulate pollution problems. They contained benzene, toluene, ethylbenzene and xylene, or BTEX, compounds, which cause cancer, reproductive harm and other toxic health effects. Air District inspectors discovered that refinery management had known since at least 2003 that emissions from the hydrogen system contained these harmful and toxic air contaminants but did not report them or take any steps to prevent them. The refinery emitted an estimated 8400 tons of these organic compounds in total over this period in violation of Air District regulations – an average of more than 2.7 tons for each day on which a violation occurred, more than 360 times the legal limit. Continue reading
Posted in auto news, environment, news, news analysis, safety
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bay Area Air Quality Management District, benzene, BTEX, California Air Resources Board, compounds, Dr. Philip Fine, Dr. Steven Cliff, ethylbenzene, Ken Zino, toluene, X @KenAutoinformed, xylene
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Toyota Motor FY2025 Q2 Earnings Down Significantly
Toyota Motor* today in Tokyo (NYSE: TM, 7203T) posted a FY Q2 profit drop of ~¥1.28 trillion yen year-over-year at ~¥573.7 billion. Toyota sold 2.3 million vehicles globally, compared to 2.4 million YOY. Quarterly sales revenue rose a tad ~¥11.44 trillion (~$75 billion) from ¥ 11.43 trillion. Nonetheless, Toyota re-affirmed its full fiscal year 2025 profit forecast of ¥3.57 trillion (~$23 billion), down from ~¥4.94 trillion fiscal year 2024. Simply put Toyota’s certification problems and plant shut downs clobbered earnings.
“This fiscal year, while maintaining our ability to earn 5 trillion yen, we are strengthening and accelerating our investment in people, including suppliers and dealers, and investment in growth areas. We are taking such measures a step higher, expanding total investments to 830 billion yen,” said Toyota Chief Financial Officer Yoichi Miyazaki. Continue reading →