Category Archives: economy

Trump Covid Casualties – State Sales Tax Collections Dive

Raising taxes on the middle class is not a viable option. A federal bailout or large assistance program for states appears likely. Senate Majority leader McConnell – aka Moscow Mitch – has a sure-fire way to create another great depression – let the states go bankrupt while Trump eats cake- and crow in Mira Largo. Continue reading

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Grim Survey – a Nation of Broke and Broken Shopkeepers?

Mnuchin is likely trying to stop President elect Biden’s next Treasury secretary extending relief to state and local governments.

The Federal Reserve – in what AutoInformed says is the latest example of the ugly, vindictive politics of the defeat at the ballot box of the impeached and lame-duck Trump – responded with a statement claiming it “would prefer that the full suite of emergency facilities established during the corona-virus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy.” Fed Chair Jerome Powell earlier in the week said there was a need for the programs to continue.  Continue reading

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Porsche Q3 in Black at €437 Million Because of VW

Porsche SE’s positive result after tax basically comes from the profit from an investment accounted for at equity in Volkswagen AG of €505 million (prior-year period: €3.58 billion. Porsche Se is the largest holder of VW common stock). The business of the Volkswagen Group was affected by the Covid-19 pandemic in the first nine months of 2020 but made a recovery in the third quarter. Nonetheless both groups remain in difficult if not precarious financial positions. Continue reading

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JLR to Use Irish Smart City Hub for Self-Driving Tests?

Timing is everything. Amid the Brexit disaster, Jaguar Land Rover is working with global software, mobility and telecoms companies to create a smart city hub in Ireland. If this ever comes about on the scale envisioned, it will allow real-world testing of connected technology where self-driving vehicles share the streets with cars, pedestrians and cyclists. The testbed will be in the Limerick-Shannon metropolitan area at Shannon Free Zone, Shannon, Co. Clare. The future of Irish trade, political sovereignty and access to the EU is dependent on the resolution of Brexit. Jaguar Land Rover is the UK’s largest automotive manufacturer. Continue reading

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Covid Casualties – Consumers Forcing Digital Auto Financing as Trump Sulks and Virus Continues to Spread

It’s just another example of how the ongoing Covid crisis will change well-established business practices in the auto industry. Auto dealers, who tend to be Republican in AutoInformed’s experience can thank the ousted -ex-president Trump for this very real threat to their profitability. Wearing a mask won’t help the spread of this change as Covid continues to expand unabated due to the lack of a national policy – one that won’t be forthcoming until January 20th 2021. Continue reading

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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

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SMMT – Final Plea for Zero-Tariff Trade Deal As Brexit Negotiations Near End

However, significant gaps in the industry’s ability to plan still exist, with a lack of clarity on the nature of the UK-EU’s future relationship hampering the efforts of almost nine in 10 (86%) firms to prepare. A disastrous ‘no deal’ outcome, or failure to achieve workable deal for auto, would mean £47 billion hit to UK sector over next five years – on top of ongoing coronavirus crisis costs, the auto industry claims. Ah, such is the price of blind ideologies who ignore real consequences, economists and political scientists. Continue reading

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Kansas City to Assemble All-Electric Ford E-Transit

It’s ironic that the transition to a carbon-free economy and the jobs it is now creating in the US auto industry comes in part because of the ousted Trump Administration’s anti-environmental policies that are at odds with a global trend toward healing the earth that is being reinforced by regulators. Ford spends more than $5 billion annually on engineering in America, which includes the development of the all-new, fully electric Transit, the F-150, and the all-new Mustang Mach-E. Continue reading

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Debt to Watch as Covid Spreads – New FCA Bank Notes

AutoInformed thinks it too reflects the uncertainty in global economies as Central Banks – led by what some say is a printing-press happy US Treasury – have pushed interest rates on government debt to virtually zero. Continue reading

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Toyota Sustaining Some Profits During FY 2021 Covid Crisis

In Japan this morning Toyota Motor said that during the first half of Fiscal Year 2021* during the Covid Crisis that profits were maintained even though sales, operating income and margins dropped drastically. Furthermore a special dividend would be declared that appears risky given the ongoing spread and re-emergence of Covid in most of its major markets. Continue reading

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Random Covid Curiosities

For the new Ghost, which debuts in autumn 2020, this technology has been developed to incorporate hardware and software improvements, collectively dubbed the MicroEnvironment Purification System. Impurity Detection Sensors have been introduced to detect ambient pollution levels, automatically switching fresh air intakes to Recirculation Mode if unacceptable levels of airborne contaminants are present. This channels all cabin air through a Nanofleece filter, which can remove nearly all ultra-fine particles, viruses and bacteria from the Rolls-Royce’s interior in less than two minutes. Continue reading

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GM Earns $5.3B in Q3 – Trucks, China Help

General Motors Co. (NYSE: GM) today reported Q3 earnings helped by China and North American Sales of truck and SUVs despite the COVID-19 pandemic. Specifically, GM launched an all-new portfolio of full-size Chevrolet, GMC and Cadillac sport utility vehicles, and maintained its leading U.S. full-size pickup truck and large SUV market share. Continue reading

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Ford Q3 Net Income at $2.4B Treads Water. Q4 $500M Loss?

As a result, the Ford outlook is wobbly including a fourth quarter adjusted EBIT between break-even and a, gulp, $500 million loss. Continue reading

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Multinationals Liable For Supply Chains? Swiss Vote Due

“For too long, multinational corporations have been able to hide their abuses behind a veneer of respectability, using plausible deniability whenever bad behavior is highlighted. The Responsible Business Initiative is part of a global movement by unions and civil society organizations to hold companies responsible for their behavior,” said IndustriALL general secretary Valter Sanches. Continue reading

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Daimler Q3 Covid Results – Sales, Revenue Down. Earnings Up

Daimler expects that the significant unit-sales reductions recorded in the first nine months due to the COVID-19 pandemic will only be partially offset by the end of the year. Group unit sales and Group revenue in 2020 are forecast to be significantly lower than in the previous year. Continue reading

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