Sat, 6 April 2024
Welcome to the auto podcast that is pondering the question… Do you still want an EV? On this episode of Throwin’ Wrenches…
All that and more on This episode of Throwin’ Wrenches. Thanks for listening. To join in on the fun of the show, just email us at info@throwinwrenches.com or post a review on itunes to be heard around the world! Sponsors
PATREON - Thanks to our Patreon supporters. Welcome new members! Itunes Premium - people love it! Full integration into the Apple Podcasts Ap. Thanks for listening. Thanks for sharing. Thanks for commenting. THANKS FOR REVIEWING!!!! 33 Five Star Reviews cant be wrong? Projects Eric:
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NEWS WORLD: BMW Sees Top-End EVs Driving Profit Even as Demand Cools BMW AG said its top-end electric vehicles like the 7-Series sedans, X7 and Rolls Royce Spectre will drive profit this year, even as faltering global demand weighs on broader EV sales. The German luxury-car maker expects its priciest models to be key contributors to a 8% to 10% margin for its automotive segment, in line with its long-term target. BMW sees overall sales increasing slightly. Source: Bloomberg Nissan Returns to Sales Playbook to Move Old Rogue Supply Nissan has a Rogue problem — and it's turning to an old playbook to fix it. Even as 2024 Rogues are dropped off at Nissan stores this month, Edmunds data shows that the brand's dealerships have as many as 24,000 previous model-year crossovers on their lots. Nissan has a "big time" issue with its bestseller, said a retailer, one of a half-dozen interviewed by Automotive News. According to a memo obtained by Automotive News last week, Nissan is offering dealers $1,000 on each 2023 Rogue sold if they hit their March sales targets for the compact crossover, which vary by store. Dealers may count 2024 Rogue sales toward the goal, but the bonus is paid out only on last year's models. If dealers miss the target by even one vehicle, they don't get the bonus for any of them. Source: Automotive News China EV push leaves zombie factories in its wakePlants geared to petrol engines are mothballed as foreign carmakers lose market share In 2017, Hyundai invested $1.15bn in a new factory in Chongqing, south-western China, with the goal of reaching an annual output of 300,000 internal combustion engine cars. But six years later, the rapid switch by Chinese consumers to electric vehicles has stalled sales, forcing the carmaker to sell the factory in December for less than a quarter of the investment value. “The Chongqing plant continued to be in the red and China’s auto market is grappling with oversupply,” said Lee Hang-koo at the Jeonbuk Institute of Automotive Convergence Technology, a South Korean research group. “No one was willing to buy the plant at a high price.” That plant is one of the hundreds of zombie factories that analysts are predicting over the next decade in the Chinese car market, the world’s biggest across sales, production and, since last year, exports. In 2023, China produced 17.7mn internal combustion engine cars, a 37 per cent fall from its peak in 2017, according to data from Automobility, a Shanghai consultancy. While some older factories will be repurposed for plug-in hybrids or pure battery electric vehicles, others will never produce another car, posing a problem for both foreign and Chinese companies. Many carmakers in China, Russo said, ultimately faced two choices: “Leave the factory mothballed or crank out some volume and send it to Russia, send it to Mexico.”
That’s right, China is now doing the same stuff other countries used to do to China. NATIONAL GM, Ford Will Reroute Baltimore Shipments After Bridge Collapse U.S. automakers General Motors and Ford will reroute affected shipments after a bridge collapse in the U.S. shuttered the Port of Baltimore, but the companies said on Tuesday the impact will be minimal. The Port of Baltimore is the busiest U.S. port for car shipments, handling at least 750,000 vehicles in 2023, according to data from the Maryland Port Administration. Motor vehicles and parts accounted for 42% of all Baltimore port imports. Source: Reuters CAR FROM JAPAN The Biden administration moved Wednesday to throttle pollution from the nation’s cars and light trucks, imposing tailpipe emission limits so stringent they will compel automakers to rapidly boost sales of battery-electric and plug-in hybrid models. Though the near-term requirements were eased after pushback from automakers, the Environmental Protection Agency’s mandates would nevertheless require manufacturers to make a rapid shift toward zero-emission vehicles. The National Automobile Dealers Association said the regulation outpaces consumer demand, adding the group is “highly skeptical that consumers will adopt EVs anywhere near the levels required.” Source: Bloomberg Electric vehicle owners are noticing vehicle tires wearing faster than those on gasoline-powered vehicles, according to the J.D. Power 2024 U.S. Original Equipment Tire Customer Satisfaction Study. Findings from the study highlight EV owners having less satisfaction with the durability of their tires, expecting them to wear similar to gasoline-powered vehicle tires. However, EV tires naturally wear quicker because of greater vehicle weight and higher torque. Source: Automotive News Dealers See the Good and Bad Out of Unchanged Interest Rates The average interest rate on auto loans for new vehicles was 7.2 percent in the fourth quarter of 2023, up from 6.1 percent a year earlier, according to Experian. The average used-vehicle auto loan charged 11.9 percent, up from 10.4 percent a year earlier. Cox Automotive Chief Economist Jonathan Smoke told Automotive News anticipation of future rate cuts hurts today's auto market. Source: Automotive News Stellantis uses ‘mandatory remote work day’ to cut 400 white-collar jobs |
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Fri, 16 February 2024
Welcome to the auto podcast that is not trying to populate the world with narcissistic CEOs. On this episode of Throwin’ Wrenches…
All that and more on this episode of Throwin’ Wrenches. Sponsors
ProjectsEric
Daryl
Historical HeadlineFebruary 8, 1993 GM Sues NBC For Defamation over Exploing “Side Saddle Gas Tanks”[caption id="attachment_4042" align="aligncenter" width="600"] NBC Admits It Rigged Crash, Settles GM SuitSource: LA Times In an extraordinary public apology, NBC said Tuesday night that it erred in staging a fiery test crash of a General Motors pickup truck for its “Dateline NBC” news program and agreed to settle a defamation suit filed by the automaker. “We deeply regret we included the inappropriate demonstration in our ‘Dateline’ report,” said a statement read by NBC News co-anchors Jane Pauley and Stone Phillips Tuesday night. “We apologize to our viewers and to General Motors. We have also concluded that unscientific demonstrations should have no place in hard news stories at NBC. That’s our new policy.” The apology, still being negotiated within five minutes of air time, was part of a settlement of a lawsuit GM filed Monday over film used in a Nov. 17 segment of “Dateline.” In its apology, NBC admitted that it had used incendiary devices to ensure that a fire would erupt if gasoline leaked from the truck being hit by a test car. The 15-minute segment was addressing critics’ charges that GM’s full-size pickup trucks built between 1973 and 1987 are unsafe because their gasoline tanks are on the sides of the trucks, outside the frame. GM has staunchly denied that the trucks have safety problems. NewsUsed vehicle prices will fall 5.7% in 2024, expert saysSource: Automotive News Used-vehicle prices will continue falling this year, but affordability remains an issue for many buyers, said Jonathan Banks, vice president of product development and valuation services at J.D. Power. Speaking at the J.D. Power Auto Summit in Las Vegas, Banks said he expects used-vehicle prices will fall 5.7 percent this year, more than the 3.5 percent decline in 2023, as the market continues to recover from skyrocketing prices during the coronavirus pandemic. [caption id="attachment_4039" align="aligncenter" width="600"] Toyota to outshine rivals as more consumers opt for hybrids amid EV slowdownSource: Reuters U.S. hybrid sales have been rising as consumers balk at high EV prices and are anxious about the range of electric cars, especially in more rural areas, where there could be long distances between charging stations. Battery EVs are not as widely accepted in the Midwest as they are on the West Coast and other parts of the United States, Davis said. Shelley Zalis: More Women in Auto Retail is ‘Good for Business'Source: Automotive News Car dealers looking to boost dealership profits might want to consider more inclusive hiring strategies. "If you want to add more revenue to your dealership, do the right thing. It's good for business," said Shelley Zalis, CEO of The Female Quotient, which seeks to advance equality in the workplace and raise the visibility of women across industries, including automotive. Amy Cuddy, a social psychologist and bestselling author, also challenged the auto industry to reimagine their power and how it is conveyed in the workplace.
Side Note: Give the GET IN HER LANE PODCAST a try!Executives and employees from the Toyota Chicago Region have a show and it's pretty great. Taken from the view that women in the automotive industry have as they build careers in a traditionally male industry. Learn More at getinherlane.com
‘Seismic shift’: driving unaffordable for many in US amid push toward SUVsLuxury vehicles, production cuts and soaring insurance prices have sent the cost of US car ownership out of controlSource: The Guardian The average new car today sells for nearly $49,000, and the average used car lists at more than $26,000 – representing a 31% increase for new cars and nearly 40% increase for used cars since 2020, according to data from the industry group Cox Automotive. These increases have brought the total cost of car ownership to all-time highs in a country where cars aren’t really optional. And that’s despite the easing of inflation and the supply chain issues that snarled the auto industry during the pandemic. So why are consumers still getting squeezed? Here’s a hint: the automakers are doing great. By essentially coordinating an industry-wide production cut, the pandemic gave manufacturers power to demand mind-boggling prices for fewer cars, leading to record profits. As consumers adjusted their expectations, executives saw an opportunity to establish a lucrative new normal. Low inventory is an “opportunity to drive strong margins”, GM’s CEO, Mary Barra, told shareholders in 2022. Ford’s CEO, Jim Farley, went even further, declaring: “I want to make it extremely clear to everyone: we are going to run our business with a lower day supply than we have had in the recent past because that’s good for our company.” Brian Moody, a senior editor at Kelley Blue Book, a car industry publication, says automakers used the pandemic to shift product lines toward higher-margin products. Instead of small cars and base models, they pivoted to luxury cars and SUVs with fully loaded trims, which turn far greater profits per sale. That means “the less expensive the car, the fewer choices you have”, says Moody. Some commentators have called the trend “trimflation”. Efforts underway to form union at Rivian EV plant in Normal |
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Mon, 15 January 2024
Welcome to the auto podcast that is talking stainless… and we're not talking cutlery. On this episode of Throwin’ Wrenches:
SponsorsThanks to Fort’s Toyota for their continued sponsorship. We could not do this show without their support, so please consider supporting them if you're in the market for a new or used Toyota. Their service department is pretty amazing, too! About Our GuestMarcus BrockettOwner/Fabricator at Brockett Built
Eric first met Marcus at an SCCA racing event in Pekin. He pulled up with a Lexus IS wagon that was a little chopped and appeared to be one of those dudes who would be an amazing addition to the “regulars”. Since then, they have been chatting at Fort’s Toyota over the years as he has been trying to get us to do a Supra exhaust. All the while Brockett Built, formerly known as Shade 12 Fab, continues to show off his technical and artistic skills with custom exhaust work on anything with 4 wheels.
Remembrance
We'd like to pay our respects to the late George Beres, a central Illinois automotive legend. We had the pleasure of interviewing him in 2019 and learned a great deal about the automotive sales business. George was a pioneer, a masterful businessman, and a wealth of knowledge about how to sell a quality product to the everyday consumer. We wish his family peace and comfort in the days ahead. ProjectsEric
Daryl
Marcus
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Throwin' Wrenches Podcast
Here is the podcast from two guys who have knowledge and love of the automotive industry and anything car related. Eric Stahl and Daryl Scott. Every episode is chock full of hard-hitting world, national, and local news. We also feature segments off the beaten path from other shows... "Cars of the weak", where we open up our virtual checkbook and mentally purchase our favorite vehicle for sale on Craigslist, Bring a Trailer, or any other online selling portal. Sometimes we break into song with Carlo Goshen... Or have a "Moment of Musk", where Eric gives us the rundown of the current doings of a Mr. Elon. Daryl's "Riffing Zone", where we dig into our inner "get your ball off my lawn" and find something to complain about. We record a few times a month and love feedback. Be sure to contact us with any questions or comments we can discuss on the show.
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Image Credit: YouTube[/caption]
Image Credit: Toyota Newsroom[/caption]
