Have them for sale or made the sale?
Side bar: I wonder if RV manufacturer orders are in that mix?
Interesting Car/Truck Manufacturer News
- Thread starter Weather Man
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Have them for sale or made the sale?
Side bar: I wonder if RV manufacturer orders are in that mix?
HD truck sales. I purchased my first HD truck and I love my Tremor.
Hyundai U.S. SUV retail sales grew 36% in September
Oct. 5, 2020 9:14 AM ET|About: Hyundai Motor Company (HYMLF)|By: Niloofer Shaikh, SA News Editor
Hyundai (OTCPK:HYMLF) reports sales in the U.S. rose 5% in September to 54,790 units.
Retail sales up 21%, and fleet sales down 67% and represented only 5% of total volume.
Palisade +125%, Kona retail sales +44%, Sonata +25%and Santa Fe retail sales +17%.
Q3 Hyundai U.S. sales fell 1% to 170,828 units, with retail sales up 7%.
"Our outstanding product portfolio combined with stable inventory, the right incentives and the elevation of the customer experience at our dealerships has resulted in another month of market share gains," said Randy Parker, vice president, National Sales, Hyundai Motor America. "Retail sales in the third quarter also increased, another indication that sales are recovering from the pandemic."
Oct. 5, 2020 9:14 AM ET|About: Hyundai Motor Company (HYMLF)|By: Niloofer Shaikh, SA News Editor
Hyundai (OTCPK:HYMLF) reports sales in the U.S. rose 5% in September to 54,790 units.
Retail sales up 21%, and fleet sales down 67% and represented only 5% of total volume.
Palisade +125%, Kona retail sales +44%, Sonata +25%and Santa Fe retail sales +17%.
Q3 Hyundai U.S. sales fell 1% to 170,828 units, with retail sales up 7%.
"Our outstanding product portfolio combined with stable inventory, the right incentives and the elevation of the customer experience at our dealerships has resulted in another month of market share gains," said Randy Parker, vice president, National Sales, Hyundai Motor America. "Retail sales in the third quarter also increased, another indication that sales are recovering from the pandemic."
Ford reports 7.6% stake in newly-public, self-driving auto company Velodyne Lidar
Oct. 5, 2020 4:31 PM ET|About: Velodyne Lidar, Inc. (VLDR)|By: Gaurav Batavia, SA News Editor
Ford (NYSE:F) reports a holding of 13.06M shares in Velodyne Lidar (NASDAQ:VLDR), equating to 7.6% stake.
An autonomous-driving company specializing in vehicle sensors, Velodyne Lidar came public last month via merger with blank-check company Graf Industrial.
VLDR is up 5% after-hours.
Oct. 5, 2020 4:31 PM ET|About: Velodyne Lidar, Inc. (VLDR)|By: Gaurav Batavia, SA News Editor
Ford (NYSE:F) reports a holding of 13.06M shares in Velodyne Lidar (NASDAQ:VLDR), equating to 7.6% stake.
An autonomous-driving company specializing in vehicle sensors, Velodyne Lidar came public last month via merger with blank-check company Graf Industrial.
VLDR is up 5% after-hours.
Toyota to develop heavy duty electric truck
Oct. 5, 2020 3:21 PM ET|About: Toyota Motor Corporation (TM)|By: Clark Schultz, SA News Editor
Toyota (TM +0.3%) discloses that it is in a partnership with Hino Trucks to jointly develop a Class 8 fuel cell electric truck for the North American market.
The companies plan to leverage the newly developed Hino XL Series chassis with Toyota's proven fuel cell technology. The collaboration expands upon the existing effort to develop a 25-ton FCET for the Japanese market which was announced earlier this year.
The initial demonstration vehicle is expected to arrive in the first half of 2021.
"A fuel cell powered version of the Hino XL Series is a win-win for both customers and the community. It will be quiet, smooth and powerful while emitting nothing but water," says a Toyota research engineer.
Source: Press Release
Class 8 truck demand has picked up in recent months.
Oct. 5, 2020 3:21 PM ET|About: Toyota Motor Corporation (TM)|By: Clark Schultz, SA News Editor
Toyota (TM +0.3%) discloses that it is in a partnership with Hino Trucks to jointly develop a Class 8 fuel cell electric truck for the North American market.
The companies plan to leverage the newly developed Hino XL Series chassis with Toyota's proven fuel cell technology. The collaboration expands upon the existing effort to develop a 25-ton FCET for the Japanese market which was announced earlier this year.
The initial demonstration vehicle is expected to arrive in the first half of 2021.
"A fuel cell powered version of the Hino XL Series is a win-win for both customers and the community. It will be quiet, smooth and powerful while emitting nothing but water," says a Toyota research engineer.
Source: Press Release
Class 8 truck demand has picked up in recent months.
Daimler outlines new direction for Mercedes-Benz at investor event
Oct. 6, 2020 7:34 AM ET|About: Daimler AG (DDAIF)|By: Clark Schultz, SA News Editor
Mercedes-Benz (OTCPK
DAIF) announced a new strategic course at an investor event today. The plan is for Mercedes to pursue profitable growth in the luxury segment and target leadership in electric drive and car software.
The new strategy is aimed at enhancing the Mercedes-Benz brand's luxury status, raise the product portfolio’s positioning and mix, pursue significant growth for sub-brands (AMG, Maybach, G and EQ) and accelerate the development of electric drive and car software.
Execs stated that four all-new electric vehicles on new large EVA architecture are set for launch from 2021 and pointed to new electric products coming for AMG, Maybach and G.
Financial ambitions include lowering the break-even point, as well as targeting higher profitability and a strong cash conversion rate.
"At Mercedes-Benz, we strive for nothing less than taking the lead in electric drive and car software. We will do this with an intelligent electric platform strategy and a proprietary software development approach," said Daimler COO Markus Schäfer.
Oct. 6, 2020 7:34 AM ET|About: Daimler AG (DDAIF)|By: Clark Schultz, SA News Editor
Mercedes-Benz (OTCPK
DAIF) announced a new strategic course at an investor event today. The plan is for Mercedes to pursue profitable growth in the luxury segment and target leadership in electric drive and car software.The new strategy is aimed at enhancing the Mercedes-Benz brand's luxury status, raise the product portfolio’s positioning and mix, pursue significant growth for sub-brands (AMG, Maybach, G and EQ) and accelerate the development of electric drive and car software.
Execs stated that four all-new electric vehicles on new large EVA architecture are set for launch from 2021 and pointed to new electric products coming for AMG, Maybach and G.
Financial ambitions include lowering the break-even point, as well as targeting higher profitability and a strong cash conversion rate.
"At Mercedes-Benz, we strive for nothing less than taking the lead in electric drive and car software. We will do this with an intelligent electric platform strategy and a proprietary software development approach," said Daimler COO Markus Schäfer.
Lithia Motors acquires Latham Ford, adding $55M in revenue
Oct. 6, 2020 7:05 AM ET|About: Lithia Motors, Inc. (LAD)|By: Niloofer Shaikh, SA News Editor
Lithia Motors (NYSE:LAD) has acquired Latham Ford, serving the Albany, NY, metropolitan area and expected to add $55M in annualized revenue, bringing company's total network expansion to over $1.75B in revenue thus far in 2020.
This acquisition was funded using free cash flow and existing on-balance sheet capacity.
“The growth of our physical network expands our ability to provide consumers with convenient and affordable new vehicle, used vehicle, service and parts solutions. Together, with our Driveway digital home channel, we are providing flexible and complete vehicle ownership solutions wherever, whenever and however consumers desire,” said Bryan DeBoer, Lithia Motors President and CEO.
Oct. 6, 2020 7:05 AM ET|About: Lithia Motors, Inc. (LAD)|By: Niloofer Shaikh, SA News Editor
Lithia Motors (NYSE:LAD) has acquired Latham Ford, serving the Albany, NY, metropolitan area and expected to add $55M in annualized revenue, bringing company's total network expansion to over $1.75B in revenue thus far in 2020.
This acquisition was funded using free cash flow and existing on-balance sheet capacity.
“The growth of our physical network expands our ability to provide consumers with convenient and affordable new vehicle, used vehicle, service and parts solutions. Together, with our Driveway digital home channel, we are providing flexible and complete vehicle ownership solutions wherever, whenever and however consumers desire,” said Bryan DeBoer, Lithia Motors President and CEO.
The EV market is full of companies I have never heard of before.
Faraday Future the latest EV player to aim for SPAC merger
Oct. 6, 2020 7:00 AM ET|About: Spartan Energy Acquisitio... (SPAQ)|By: Clark Schultz, SA News Editor
Electric vehicle startup Faraday Future says it is working on a deal soon to go public through a reverse merger with a special purchase acquisition company.
CEO Carsten Breitfeld didn't specify who the company is talking with on a potential SPAC in comments to Reuters.
Faraday aims to deliver its first electric luxury SUV nine months after securing funding and begin volume production 12 months after striking a deal.
The SPAC lane in the EV market is getting crowded with Fisker (NYSE:SPAQ), Canoo (CNOO), Nikola (NASDAQ:NKLA) and Lordstown Motors (RIDE) all choosing the path.
Faraday Future the latest EV player to aim for SPAC merger
Oct. 6, 2020 7:00 AM ET|About: Spartan Energy Acquisitio... (SPAQ)|By: Clark Schultz, SA News Editor
Electric vehicle startup Faraday Future says it is working on a deal soon to go public through a reverse merger with a special purchase acquisition company.
CEO Carsten Breitfeld didn't specify who the company is talking with on a potential SPAC in comments to Reuters.
Faraday aims to deliver its first electric luxury SUV nine months after securing funding and begin volume production 12 months after striking a deal.
The SPAC lane in the EV market is getting crowded with Fisker (NYSE:SPAQ), Canoo (CNOO), Nikola (NASDAQ:NKLA) and Lordstown Motors (RIDE) all choosing the path.
Mercedes-Benz's Q3 sales shrinks 5%
Oct. 6, 2020 10:39 AM ET|About: Daimler AG (DDAIF)|By: Niloofer Shaikh, SA News Editor
Mercedes-Benz USA (OTCPKDAIF +0.8%) reports Q3 sales of 69,631 Mercedes-Benz units and 15,491 Mercedes-Benz Vans, combined total declined 5% Y/Y to 85,122 vehicles.
Mercedes-Benz volume leaders in Q3 included the GLC with 11.428 units, GLE with of 10,858 units and GLA model lines with 8,712 units.
Sales of Mercedes-AMG high-performance models up 35% Y/Y to 9,116 units.
Separately, Mercedes-Benz Certified Pre-Owned (MBCPO) models sales grew 5.1% Y/Y to 34,999 vehicles during the quarter.
“We are well positioned to take advantage of the natural market gravitation to SUVs, and our new GLA and GLB build upon the consistent performance established by the, GLE and GLS models,” said Drew Slaven, VP Marketing of MBUSA and acting Head of MS MBC North America.
Oct. 6, 2020 10:39 AM ET|About: Daimler AG (DDAIF)|By: Niloofer Shaikh, SA News Editor
Mercedes-Benz USA (OTCPK
DAIF +0.8%) reports Q3 sales of 69,631 Mercedes-Benz units and 15,491 Mercedes-Benz Vans, combined total declined 5% Y/Y to 85,122 vehicles.Mercedes-Benz volume leaders in Q3 included the GLC with 11.428 units, GLE with of 10,858 units and GLA model lines with 8,712 units.
Sales of Mercedes-AMG high-performance models up 35% Y/Y to 9,116 units.
Separately, Mercedes-Benz Certified Pre-Owned (MBCPO) models sales grew 5.1% Y/Y to 34,999 vehicles during the quarter.
“We are well positioned to take advantage of the natural market gravitation to SUVs, and our new GLA and GLB build upon the consistent performance established by the, GLE and GLS models,” said Drew Slaven, VP Marketing of MBUSA and acting Head of MS MBC North America.
Amazon reveals first custom electric delivery vans with Rivian
Oct. 8, 2020 10:27 AM ET|About: Amazon.com, Inc. (AMZN)|By: Brandy Betz, SA News Editor
Amazon (AMZN -0.3%) unveils its first custom electric delivery vans, which are one of three models designed and built in partnership with Rivian.
The e-commerce giant says the vehicles are equipped with state-of-the-art sensor detection, exterior cameras around the vehicle for a 360 degree view, and Alexa integration.
"We are working to advance and implement the technology that will support these vans—ranging from the physical charging infrastructure to enhancements and optimization of our delivery stations," says Ross Rachey, Director of Amazon's Global Fleet and Products.
Amazon targets having as many as 10K custom electric vehicles making deliveries by 2022 and all 100K ordered vehicles on the road by 2030.
In February 2019, Amazon led a $700M fundraising round for Rivian.
Image credit: Screenshot from Amazon's announcement video.
Oct. 8, 2020 10:27 AM ET|About: Amazon.com, Inc. (AMZN)|By: Brandy Betz, SA News Editor
Amazon (AMZN -0.3%) unveils its first custom electric delivery vans, which are one of three models designed and built in partnership with Rivian.
The e-commerce giant says the vehicles are equipped with state-of-the-art sensor detection, exterior cameras around the vehicle for a 360 degree view, and Alexa integration.
"We are working to advance and implement the technology that will support these vans—ranging from the physical charging infrastructure to enhancements and optimization of our delivery stations," says Ross Rachey, Director of Amazon's Global Fleet and Products.
Amazon targets having as many as 10K custom electric vehicles making deliveries by 2022 and all 100K ordered vehicles on the road by 2030.
In February 2019, Amazon led a $700M fundraising round for Rivian.
Image credit: Screenshot from Amazon's announcement video.
Total to invest in fuel cell truck startup in latest alternative energy bet
Oct. 9, 2020 8:17 AM ET|About: TOTAL SE (TOT)|By: Carl Surran, SA News Editor
Total (NYSE:TOT) says it will invest in U.S. fuel cell truck startup Hyzon Motors, the latest effort by the French oil company to boost development of cleaner energy sources.
The strategic investment by Total's venture capital arm is part of a funding round that also includes Ascent Hydrogen Fund, Hydrogen Capital Partners and Audacy Ventures; the size is not disclosed but totaled more than $15M and valued Hyzon at ~$200M, Bloomberg reports.
The funding follows other recent alternative-energy investments made by Total, including production of electric vehicle batteries and biofuels; the company has said it expects to increase annual investments in renewable energy and electricity by 50% to $3B/year by 2030.
Oct. 9, 2020 8:17 AM ET|About: TOTAL SE (TOT)|By: Carl Surran, SA News Editor
Total (NYSE:TOT) says it will invest in U.S. fuel cell truck startup Hyzon Motors, the latest effort by the French oil company to boost development of cleaner energy sources.
The strategic investment by Total's venture capital arm is part of a funding round that also includes Ascent Hydrogen Fund, Hydrogen Capital Partners and Audacy Ventures; the size is not disclosed but totaled more than $15M and valued Hyzon at ~$200M, Bloomberg reports.
The funding follows other recent alternative-energy investments made by Total, including production of electric vehicle batteries and biofuels; the company has said it expects to increase annual investments in renewable energy and electricity by 50% to $3B/year by 2030.
Amazon could save a ton of money right now by having their fleet run on CNG.
EV pretty much being rammed down our throats whether we like it or not. The constant stream of EV news and its implications takes your breath away.
LMP Automotive Holdings +12% post-market on planned acquisition of New York's Atlantic
Oct. 9, 2020 4:48 PM ET|About: LMP Automotive Holdings,... (LMPX)|By: Shweta Agarwal, SA News Editor
LMP Automotive Holdings (NASDAQ:LMPX) enters into a definitive agreement to acquire 70% of New York’s leading franchise dealership group, Atlantic Automotive Group, and logistics and vehicle storage company, Atlantic Central Storage in a deal valued at $608M.
"This acquisition is expected to add an estimated $1.6B in revenue, $38M in net income, or $3.18/share, on an annualized basis in 2021, combined with our currently contracted acquisitions which we expect to close beginning the end of next month and the following months," says CFO Evan Bernstein.
The acquisition is to be funded with a combination of financings and LMP’s current balance sheet.
Upon closing and combined with the company's currently contracted acquisitions, LMP’s annual revenues are expected to exceed $2.2B, taking net income to $4.59/share.
"This is an important addition to our network given Atlantic’s dominant and clustered presence in New York, one of the most important and lucrative markets in the United States." says Chairman and CEO Sam Tawfik.
Atlantic Central Storage has storage capacity of approximately 7,000 vehicles in New York and operates a fleet of 15 multivehicle car transporters. Atlantic Automotive Group’s management will continue to operate the business post-acquisition transaction.
LMP currently plans on adding an additional 30 to 40 dealerships in 2021 that combined with the existing acquisitions under contract have the potential to represent $9.50 to $11.50 per share in annualized net income, adds Tawfik.
Oct. 9, 2020 4:48 PM ET|About: LMP Automotive Holdings,... (LMPX)|By: Shweta Agarwal, SA News Editor
LMP Automotive Holdings (NASDAQ:LMPX) enters into a definitive agreement to acquire 70% of New York’s leading franchise dealership group, Atlantic Automotive Group, and logistics and vehicle storage company, Atlantic Central Storage in a deal valued at $608M.
"This acquisition is expected to add an estimated $1.6B in revenue, $38M in net income, or $3.18/share, on an annualized basis in 2021, combined with our currently contracted acquisitions which we expect to close beginning the end of next month and the following months," says CFO Evan Bernstein.
The acquisition is to be funded with a combination of financings and LMP’s current balance sheet.
Upon closing and combined with the company's currently contracted acquisitions, LMP’s annual revenues are expected to exceed $2.2B, taking net income to $4.59/share.
"This is an important addition to our network given Atlantic’s dominant and clustered presence in New York, one of the most important and lucrative markets in the United States." says Chairman and CEO Sam Tawfik.
Atlantic Central Storage has storage capacity of approximately 7,000 vehicles in New York and operates a fleet of 15 multivehicle car transporters. Atlantic Automotive Group’s management will continue to operate the business post-acquisition transaction.
LMP currently plans on adding an additional 30 to 40 dealerships in 2021 that combined with the existing acquisitions under contract have the potential to represent $9.50 to $11.50 per share in annualized net income, adds Tawfik.
GM records first China sales growth in two years
Oct. 12, 2020 4:50 AM ET|About: General Motors Company (GM)|By: Yoel Minkoff, SA News Editor
A continued market recovery from COVID-19 helped GM's China vehicle sales grow 12% on year in July-September, marking the automaker's first Chinese quarterly sales growth in two years.
The company is the second-biggest foreign automaker in China by units (after Germany's Volkswagen) and delivered 771,400 vehicles locally in Q3, following a 5% fall in Q2.
Sales by segment: The mass-market Buick brand saw 26% growth vs. the same period a year earlier, while those of premium brand Cadillac jumped 28% and no-frills brand Wuling grew 26%. Chevy sales meanwhile plunged 20%, while Baojun saw a 19% decline.
"GM's compact models returned to four-cylinder engines and that helped sales growth," LMC Automotive senior analyst Alan Kang declared. "Cadillac also has a more complete lineup this year."
Oct. 12, 2020 4:50 AM ET|About: General Motors Company (GM)|By: Yoel Minkoff, SA News Editor
A continued market recovery from COVID-19 helped GM's China vehicle sales grow 12% on year in July-September, marking the automaker's first Chinese quarterly sales growth in two years.
The company is the second-biggest foreign automaker in China by units (after Germany's Volkswagen) and delivered 771,400 vehicles locally in Q3, following a 5% fall in Q2.
Sales by segment: The mass-market Buick brand saw 26% growth vs. the same period a year earlier, while those of premium brand Cadillac jumped 28% and no-frills brand Wuling grew 26%. Chevy sales meanwhile plunged 20%, while Baojun saw a 19% decline.
"GM's compact models returned to four-cylinder engines and that helped sales growth," LMC Automotive senior analyst Alan Kang declared. "Cadillac also has a more complete lineup this year."
Appeals court: Ford committed fraud by selling defective Super Duty trucks
Just when you thought the 6.0 PS debacle was long dead. This will cost Ford. Just settle and get it over with once and for all.
F-Series Super Duty with the 6.0L diesel engine costs Ford again
Just when you thought the 6.0 PS debacle was long dead. This will cost Ford. Just settle and get it over with once and for all.
F-Series Super Duty with the 6.0L diesel engine costs Ford again
About 80% of the problems are due to Motorcraft Gold coolant. That junk starts a chain reaction that can destroy the engine. Navistar used the red stuff and suffered far less failures than Ford.
Interesting
Ford pushes back launch timeline for plug-in hybrid Escape SUV
Oct. 13, 2020 9:34 PM ET|About: Ford Motor Company (F)|By: Clark Schultz, SA News Editor
There is another delay in the launch by Ford (NYSE:F) of its plug-in hybrid Escape SUV after thousands of similar SUVs in Europe were recalled for problems involving fires while being recharged.
The Escape plug-in hybrid, which was originally was scheduled to go into production this past spring, is now expected to launch in 2021.
"We're moving production to next year while we investigate what happened to the Kuga in Europe," says spokesman Mike Levine.
Ford's Louisville plant began building a redesigned version of the model late last year.
Ford knocked out a gain today after being highlighted by Deutsche Bank as an earnings play.
Ford pushes back launch timeline for plug-in hybrid Escape SUV
Oct. 13, 2020 9:34 PM ET|About: Ford Motor Company (F)|By: Clark Schultz, SA News Editor
There is another delay in the launch by Ford (NYSE:F) of its plug-in hybrid Escape SUV after thousands of similar SUVs in Europe were recalled for problems involving fires while being recharged.
The Escape plug-in hybrid, which was originally was scheduled to go into production this past spring, is now expected to launch in 2021.
"We're moving production to next year while we investigate what happened to the Kuga in Europe," says spokesman Mike Levine.
Ford's Louisville plant began building a redesigned version of the model late last year.
Ford knocked out a gain today after being highlighted by Deutsche Bank as an earnings play.
Used car prices spiked 6.7 percent in September, marking the biggest monthly move since February 1969. The jump followed a 5.4 percent increase in August, the U.S. Labor Department reported.
Second-hand automobile inventories have tightened in recent months due to a reduction in trade-ins caused by the drop in new car sales this year.
Prices have been on the rise since July and are up 10.3 percent year to date, while average new car prices increased just .3 percent in October and 1 percent so far in 2020 to a record high of $35,655, according to J.D. Power.
Industry insiders expect used car pricing to start coming down soon, however, as a new car sales recovery is underway, with third-quarter sales down 9.3 percent year over year compared to a 31.9 percent drop in Q2.
Used car prices saw record rise in September due to short supplies
Second-hand automobile inventories have tightened in recent months due to a reduction in trade-ins caused by the drop in new car sales this year.
Prices have been on the rise since July and are up 10.3 percent year to date, while average new car prices increased just .3 percent in October and 1 percent so far in 2020 to a record high of $35,655, according to J.D. Power.
Industry insiders expect used car pricing to start coming down soon, however, as a new car sales recovery is underway, with third-quarter sales down 9.3 percent year over year compared to a 31.9 percent drop in Q2.
Used car prices saw record rise in September due to short supplies
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