Tag: reports

By on April 9, 2021

The China Association of Automobile Manufacturers (CAAM) is reporting its home market grew 74.9 percent in March, resulting in nearly 2.53 million new-vehicle deliveries. While we’re often skeptical of the organization’s rosy predictions and tallies, it’s claiming the recent sales surge is the direct result of how bad things had been in the previous year. China instituted some of the most aggressive lockdown protocols of any nation in the initial stages of the pandemic and had already been struggling with a declining vehicle market in 2019.

CAAM is making no illusions about the gains being based on anything other than how horrible March of 2020 was and doesn’t want to overpromise moving ahead. It’s a warning that the semiconductor shortage will likely worsen as the year continues, dampening Q2 projections. But the organization has not yet revised its forecast for next year’s overall sales. Last December, CAMM predicted roughly 26.3 million vehicles would be delivered by the end of 2021 and appears to be running with that target.

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By on March 12, 2021

Hindenburg Research, the firm that outed Nikola for overselling its technology in last year’s scathing report, has selected a new target. The company in its crosshairs this time around is Lordstown Motors. While the investment research firm stopped short of saying the Ohio-based manufacturer committed fraud, it came extremely close. On Friday, Hindenburg alleged that Lordstown is stringing investors along, will be unable to adhere to its existing production targets, and fabricated sales to make the business appear more appetizing.

“Lordstown is an electric vehicle [special purpose acquisition company] with no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities,” reads the report. “The company has consistently pointed to its book of 100,000 pre-orders as proof of deep demand for its proposed EV truck. Our conversations with former employees, business partners and an extensive document review show that the company’s orders are largely fictitious and used as a prop to raise capital and confer legitimacy.”

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By on January 4, 2021

2021 Jeep Wrangler Rubicon 392

We know the 2021 Jeep Wrangler 392 Rubicon and its 470 horsepower and 470 lb-ft of torque is on its way to market. Now we have an inkling on price.

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By on December 3, 2020

The Japan Broadcasting Corporation, better known as NHK, reported that the island nation is considering banning new internal combustion engine cars by the mid-2030s this week. While we will continue to maintain that such an effort seems unrealistic when confronting the current realities of the market, Japan’s alleged plan offers a bit more leeway than proposals pitched in parts of Europe and North America. Nippon also finds itself in a better position in the preferred mixed approach of allowing mixed powertrains, which would allow the industry to continue production gasoline-driven hybrids.

For starters, the Asian country has a fairly comprehensive hydrogen fueling network thanks to its small size. It’s also in a position that would make nationwide EV charging more feasible than regions with plenty of wide-open spaces. But automakers aren’t making a peep on the issue, preferring to leave it up to regulators and the market.

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By on November 19, 2020

It turns out there’s a name for the false sense of security provided by modern driving aids. According to researchers with the Insurance Institute for Highway Safety (IIHS) and the Massachusetts Institute of Technology’s AgeLab, the phenomenon is called “driver disengagement” and it’s assumed to be a contributing factor to roadways fatalities. The duo recently published a rather basic study examining how evolving automotive technologies might be eroding safety under the guise of progress.

Since we’ve been onto the perils and shortcomings of advanced driving aids since their introduction, it also provides us with another stellar opportunity to gloat. Heck, our criticisms go back far enough to predate any reputable research on the matter. We were just bitter cranks then, annoyed that the systems seemed unworthy of our trust despite constantly demanding it. But the IIHS said its latest testing found motorists frequently lose focus while utilizing features like adaptive cruise control and lane-keeping. This issue reportedly worsens the more familiar drivers become with the systems, which would be fine if they could be counted on for total effectiveness. Sadly, there’s been more than enough testing for us to know that’s not the case.

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By on October 28, 2020

Despite governments the world over practically forcing electric vehicles down our collective throat via stringent emission standards, the average person living in North America hasn’t changed their mind on them. According to a recent survey by J.D. Power, the “Mobility Confidence Index” for battery-electric vehicles remains largely neutral.

Even as global lockdowns have made them a more viable option, with more people working from home and driving fewer miles every week, North Americans aren’t budging. In fact, citizens of the United States may actually be turning on EVs while Canadians remain slightly more agreeable  something that probably extends beyond the automotive realm.

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By on October 5, 2020

North America has changed immensely under the pandemic. The government tested what it could get away with under the premise of health-and-safety-related lockdowns; countless small businesses have gone belly up while larger entities seem to be thriving. Meanwhile, we’ve been informed that nature is returning to urban environments as humanity forced itself to stay indoors. Waters cleared, the air was purified, and animals ventured deeper into our territories while we sheltered in place. It was if Homo Sapiens had finally been demolished, providing Mother Earth a prime opportunity to patch herself up.

For a time, there was even a period where you could enjoy open, nearly enforcement-free roadways. Some cities, including mine, saw traffic declines in excess of 40 percent during the opening weeks of the virus response. While this ended when New York City brought in those temporary (and wildly unpopular) quarantine checkpoints at major crossings and attempted to open up for commerce, it still seems like far fewer individuals are driving overall.

That’s because there are. People just don’t need to venture out of their homes as much in 2020 and it is not just the lockdowns contributing to this change. Ordering items online has played a major factor, as does the increased reliance on at-home entertainment. In fact, a new study has suggested Americans may never drive as much as they did just a decade ago. This seems especially likely with so many companies encouraging office-based employees to continue working from home indefinitely, flushing millions of daily commutes down the proverbial toilet.

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By on September 15, 2020

As you’re undoubtedly aware, there has been a lot of pressure to de-fund the police this year following the highly publicized death of George Floyd in Minneapolis, Minnesota. The city became the epicenter of violent and peaceful protests demanding police departments be stripped of funding that has since spread across the rest of the United States. Some cities, including Minneapolis, have already agreed to cut their budgets or abolish departments entirely.

While most of the ramifications of these decisions would be off-topic for this particular forum, a study came out this week examining how on-road policing has been impacted. Unsurprisingly, the number of traffic stops in Minneapolis has declined immensely. Since May 25th, Bloomberg’s CityLab estimated the department had made 80 percent fewer stops each week.

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By on September 14, 2020

Following a scathing report from Hindenburg Research that called Nikola a fraudulent company largely dependent upon the blind excitement surrounding electric vehicles, the accused has finally issued a response. On Monday, Nikola released a bulleted letter suggesting the report was the act of an opportunistic short seller that was attempting to take advantage of the period immediately proceeding the announced partnership with General Motors. While Hindenburg didn’t exactly hide that aspect of itself in its own report, it frames the business as only profiting off companies that weren’t above board to begin with. It also received support from Citron Research, which said it likewise thought Nikola needed to be scoped out by the Securities and Exchange Commission (SEC) and promised to help pay for half of any legal fees incurred as a result of Hindenburg’s reporting.

Meanwhile, Nikola was crafting its rebuttal after founder Trevor Milton explained he had to wait on a comprehensive response because he was already in contact with the SEC. As his constant Twitter updates started to become counterproductive, this was likely a wise decision. The response dropped on Monday, clearing a handful of items up while making a bunch of other aspects seem even more suspect. (Read More…)

By on September 11, 2020

While we’ve suspected that electric vehicle startups and green tech, in general, is probably a little overvalued, we’ve never accused anyone of outright fraud. Burgeoning automakers have a tendency to over promise and under deliver. Throughout history, this has occasionally gotten them into serious trouble. But it’s also how the game is played, especially when you’re new to the scene and need to distinguish yourself from giant entities who would just as soon crush you in lieu of risking the eventual competition. Nikola is a perfect example of this and built a hype train so swift that legacy brands could only hope to buy it out or invest and share in the fruits of its labor before it sped away.

But what if it wasn’t ever growing any industrial fruit?

That’s the claim being made by Hindenburg Research — which specializes in short selling, pointing to firms on the cusp of financial disaster (hence the name), and attempting to bust businesses the Securities and Exchange Commission (SEC) might be interested in. The financial research firm has suggested that Nikola founder Trevor Milton had misrepresented what the company was actually capable of in terms of product, with the intent to mislead investors into thinking the company should be incredibly valuable. It reads like a hit piece and was accused by Milton of being just that. However, there are issues brought up in the report that are still worth examining.

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By on September 3, 2020

Today’s study comes straight from the memoirs of Captain Obvious. Apparently, an economic recession isn’t what you want when you’re vying to sell factory fresh automobiles beyond the confines of rock-bottom prices. There might even be a correlation between being broke and lacking the ability to purchase items in general. At least, that was the takeaway from a cutting-edge assessment recently conducted by Auto Trader in the United Kingdom.

In an attempt to keep tabs on the public’s level of interest in reference to electric vehicles, the outlet has been surveying people at semi-regular intervals. Back in January, it asked 2,300 consumers ‘waddya buying,’ only to learn that 17 percent had their hearts set on a battery electric vehicle. That’s impressive considering less than 10 percent of automobiles in the UK utilize electricity for propulsion and most of those happen to be hybrid models. But the trend toward BEVs has shifted rather dramatically since the COVID pandemic took hold.

A follow-up questionnaire from August (this time with 2,700 respondents) shows demand has waned immensely. Only 4 percent of respondents said they were planning on getting themselves a battery electric vehicle. (Read More…)

By on August 24, 2020

Today’s automobiles are loaded with the kind of technology our grandparents could only dream about. Unfortunately, some dreams aren’t all they’re cracked up to be, and we’ve often bemoaned the many annoyances associated with modern vehicles.

J.D. Power recently shared its Tech Experience Index (TXI) Study, which has been modified to better assess specific features American drivers did and did not enjoy. The general takeaway seems to be that the average motorist feels pretty good about outward-facing cameras and anything else that improves a car’s outward visibility (handy in an era of extra chubby structural pillars).

However, the more intrusive safety inclusions that actively modify how the vehicle responds to the world around it didn’t seem to get nearly as much love, with many respondents suggesting they don’t trust the systems to behave in a predictable manner. It’s something we’re in broad agreement with and echoes many of the complaints we’ve heard from readers, friends, or rattling within our own skulls. (Read More…)

By on August 18, 2020

China’s Geely Automobile Holdings reported a first-half net profit drop of 43 percent on Monday, a tumble that forced it to reduce end-of-year targets. As you may have expected, the coronavirus was named as the biggest obstacle it had to overcome, especially in its home country. That left Geely (parent to Volvo, Lotus, Proton, Lynk & Co, Emerald Automotive, London EV and more) revising 2020 volume estimates by 6 percent to 1.32 million vehicles against the 1.36 million deliveries it enjoyed through 2019.

While enduring a bad financial year in 2020 is hardly breaking news for any major automotive manufacturer, Geely is one of many Chinese firms with global aspirations. Its role as Daimler’s second-largest stakeholder and ownership of Volvo Cars (with which it is planning a full merger) arguably makes it the corporation that’s closest to achieving that goal, too. Yet the current economic and geopolitical situation served to undermine its ultimate goal of becoming Asia’s answer to Volkswagen Group.

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By on August 6, 2020

The American Automobile Association (AAA) is recommending automakers limit the use of advanced driving aids after concluding they’re not really up to the challenge of providing reliable safety.

Over the past two years, AAA has focused on testing crash prevention systems to see if they’re all manufacturers claim — deciding that while many are useful in some instances, they’re far too inconsistent to be considered reliable safety nets. Like us, the group worries that making these features commonplace has created a false sense of security among drivers. While one might assume advanced driving aids have to be halfway decent to be put into vehicles, AAA’s pedestrian detection test from 2019 showed they’re anything but consistent.

On Thursday, America’s favorite motor club returned to report on its latest findings on five systems currently offered by the industry. For the test, AAA selected a 2019 BMW X7 with Active Driving Assistant Professional, 2019 Cadillac CT6 with Super Cruise, 2019 Ford Edge with Co-Pilot360, 2020 Kia Telluride with Highway Driving Assist, and a 2020 Subaru Outback with EyeSight. The group was sent to numerous testing sites in California, Utah, and Nevada, and given a 4,000-mile shakedown on public roads — where the outfit found the systems averaged a misstep or disengagement roughly every 8 miles.

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By on July 31, 2020

The automotive industry has borrowed an estimated $132 billion since the world started taking the coronavirus more seriously, according to a recent analysis by Bloomberg.

Despite migrating around the planet months before anyone thought to close down a single airport or suggest masks were necessary, March is broadly viewed as the start of the pandemic in the Western World, as that’s when most governments started taking direct action and businesses started looking for handouts. Still, it’s exceptionally difficult to follow the money if you didn’t devote yourself entirely to the task of tracking payments while under shelter-in-place orders.

We do know that a lot of money was being thrown around, however. Car dealerships were among the largest recipients of Paycheck Protection Program (PPP) funds in the United States, garnering anywhere from $7.5 billion to $12 billion in government aid to maintain staff. Plenty of criticism over exactly where that money went arose as the press questioned which businesses were more deserving and who was just taking advantage of the system.

But it’s only the tip of the iceberg. PPP funds don’t need to repaid unless they weren’t earmarked entirely for payroll purposes; the government also used the program to send over $600 billion to support banks in extending low-interest loans to companies during the pandemic. The automotive industry was one of the largest beneficiaries of that arrangement.

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