Interesting Car/Truck Manufacturer News

[CobraBob]

Volkswagen Golf dead in U.S., but sporty versions will survive
Volkswagen Golf dead in U.S., but sporty versions will survive

Production of the Volkswagen Golf for the U.S. ended last week in Mexico and won't be starting up again. The automaker has confirmed that the Golf will be eliminated from its American lineup as soon as supplies of the current $24,190 model are exhausted.

The Golf name will live on, however, when the high-performance GTI and R versions of the all-new globally-available eighth-generation Golf go on sale late this year as imports from Wolfsburg, Germany.

A GTI based on the eight-generation Golf is coming in late 2022. (VW)

With the elimination of the standard model Golf, VW becomes the latest automaker to shift from low-priced compact cars in favor of an SUV-heavy lineup, although sales of the Jetta sedan will continue.

To help fill the gap left by the Golf, VW is launching the Taos subcompact SUV, which will slot into the lineup under its best-selling Tiguan.

The VW Taos is a subcompact SUV. (VW)

VW has sold around 2.5 million Golfs in the U.S. since it went on sale as the Rabbit in 1974 and eventually replaced the original Beetle as VW's entry-level model. The Golf name isn't a reference to the sport, but is German for the Gulf stream, in keeping with the company's convention of naming some vehicles after winds, including Passat and Scirocco.

 

[Weather Man]

General Motors to go all-electric by 2035
Jan. 28, 2021 11:17 AM ETGeneral Motors Company (GM)By: Clark Schultz, SA News Editor2 Comments

• General Motors (GM +3.7%) wants to end production of all diesel and gasoline-powered cars, trucks and SUVs by 2035 as part of a plan to shift its entire new fleet to electric vehicles.
• The company plans to use 100% renewable energy to power its U.S. facilities by 2030 and in global facilities by 2035, which is a timeline ahead of the original target.
• GM establishes a goal of becoming carbon neutral in both its global products and its operations by 2040.
• The automaker's focus will be offering zero-emissions vehicles across a range of price points and working with all stakeholders to build out the necessary charging infrastructure and promote consumer acceptance.
• General Motors has been rallying strong since its CES appearance earlier this month.

 

[Weather Man]

GM's electric push to set off sparks across the electric vehicle sector
Jan. 28, 2021 1:34 PM ETGeneral Motors Company (GM)By: Clark Schultz, SA News Editor3 Comments

• General Motors (GM +3.9%) is moving full speed ahead on its plan to bring 30 EV models to market by 2025 on its proprietary Ultium platform.
• The development is called positive by Wedbush Securities for the electric vehicle market as a whole.
• "With battery technology the linchpin, GM says its battery technology will allow electric cars to travel 400 miles on a single charge without compromising driving performance which would exceed Tesla’s projected range for its Model 3," writes analyst Dan Ives.
• "In our opinion this is a very bullish signal for the EV sector domestically and we believe is a shot across the bow at Tesla and other EV players that GM will be aggressively going after EVs and is not just talking the talk with this latest news. With the Biden Green Agenda on the horizon, we believe other automakers could follow GM's lead domestically with Tesla continuing to run away with market share in this EV arms race," he adds.
• Tesla (TSLA -2.8%) has always said it welcomes company in the EV world.

Lordstown Motors on track for Endurance production; announces business updates
Jan. 28, 2021 1:29 PM ETLordstown Motors Corp. (RIDE)By: Khyathi Dalal, SA News Editor2 Comments

• As the company remains on track to begin production of the Lordstown Endurance, Lordstown Motors (RIDE -4.4%) announced another round of commercial, operational and strategic development updates.
• Lordstown Endurance is anticipated to be the world's first mass produced full-size all-electric pickup truck in 2021.
• "With this step on the horizon, we remain on track to meet our September start-of-production timeline while continuing to see indicators of strong demand for an all-wheel drive, full-size electric pickup truck with 250 miles of range from commercial, government and military fleets," CEO Steve Burns commented.
• Among few notable developments:

1. Lordstown Motors initiated the metal stamping and welding for the first 57 Endurance Beta prototypes of the Endurance; expects to complete the first Beta vehicles on schedule in March.
2. Recently, signed a multi-year supplier agreement with LG Energy Solution broadening Lordstown Motors' high-quality, diverse battery cell supply chain that will power the Endurance in upcoming years.
3. Besides company-owned service centers, Lordstown is continuing its review of plans to utilize Camping World's (NYSE:CWH) extensive footprint and service expertise.
4. Lordstown Motors Electric Van is in development with plans to be unveiled in June and production starting in 2H22.

 

[Weather Man]

XPeng delivers 6,015 Smart EVs in January, increase of 470% Y/Y

• XPeng (NYSE:XPEV) achieves a record monthly delivery of 6,015 Smart EVs in January 2021, an increase of 470% Y/Y.
• Total January deliveries consisted of 3,710 P7s and 2,305 G3s.
• Cumulative P7 deliveries reached 18,772 as of January 31. G3 deliveries exhibited rise of 118% Y/Y.
• The record-breaking delivery results reflect the strong market appeal of XPeng’s products and services as the Company accelerates its delivery capabilities and launch of new smart features, expanding brand awareness and marketing efforts.
• XPEV shares rose 16% over the past month, followed by a jump of 326% in December 2020 deliveries.
• Recently, the Company released the new version of P7’s operating system, Xmart OS 2.5.0 in China.
• Also, Morgan Stanley initiated coverage on XPEV with an Overweight rating.
• EqualOcean upgrade XPEV to 'buy' with a target price of $72 and said its new generation AD system – XPILOT 3.0 – is worth betting on in an article at Seeking Alpha.

Nio delivers 7,225 vehicles in January, up 352% Y/Y

• Nio (NYSE:NIO) reports a new monthly record with 7,225 vehicles delivered in January 2021, representing a growth of 352.1% Y/Y.
• The deliveries consisted of 1,660 ES8s, 2,720 ES6s, and 2,845 EC6s.
• As of January 31, cumulative deliveries reached 82,866 vehicles.
• Earlier this month, Nomura initiated coverage on Nio with a Buy rating and Morgan Stanley pushed its price target up to $80 from $33. MS has an Overweight rating on Nio.
• NIO is on Seeking Alpha's Catalyst Watch this week with shares rising ~24% over the past month, followed by a 121% increase in December deliveries.

 

[Weather Man]

The mid-engine Chevrolet Corvette Stingray is a powerful sports car capable of acellerating to 60 mph in under 3.0 seconds and hitting a top speed of 194 mph, but not when it's new.

Like many cars, Chevy advises that you take it easy during a 500-mile break-in period, but the Corvette makes sure that you do.

(Fox News Autos)

Mike Kociba, the assistant chief engineer for the Stingray's 6.2-liter V8, revealed to the Detroit Free Press that the car's compupter has been programmed to limit power until the 500 mile mark has been reached.

 

[CobraBob]

I read that Corvette news a couple of days ago. When you pass the 500 mile mark, the engine doesn't just suddenly run with the additional ponies. You have to shut off the car and re-start it for the 500-mile power limitation to be turned off.

 

[CobraBob]

The 200 mph Cadillac CT5-V Blackwing is brand's most-powerful car ever, but CT4-V Blackwing is no slouch - Fox News

The 200 mph Cadillac CT5-V Blackwing is brand's most-powerful car ever, but CT4-V Blackwing is no slouch

Cadillac may be on the verge of transforming into an all-electric brand, but it’s not done with piston-power just yet.

The luxury automaker has unveiled new high-performance versions of its CT4 and CT5 sedans.

Released under the Blackwing name and designed to compete with the likes of the BMW M3 and M5, the cars are the successors to the ATS-V and CTS-V that were discontinued in 2018 and 2019.

The Cadillac CT4-V Blackwing competes against the BMW M3 (Cadillac)

The compact CT4-V Blackwing features a 472 hp 3.6-liter turbocharged V6 while the midsize CT5-V Blackwing gets a 668 hp 6.2-liter supercharged V8 that is the most powerful engine ever stuffed under a Cadillac hood.

The Cadilac CT5-V Blackwing is similar in size to the BMW M5 (Cadillac)

Cadillac said the CT4 should be able to accelerate to 60 mph in 3.8 seconds and hit a top speed of 189 mph, while the CT5 can do that sprint in 3.7 seconds on its way to a maximum velocity over 200 mph.

Those figures apply to cars equipped with the available 10-speed automatic transmission, but both come standard with a six-speed manual. They also get GM’s Magnetic Ride Control active suspension and uniquely-designed high-performance Michelin Pilot Sport 4s tires.

The CT4-V Blackwing comes standard with a 10-speed automatic transmission. (Cadillac)

Cadillac's Super Cruise hands-off driver aid system will not be offered, despite its availability in other CT4 and CT5 models. A brand spokesman said that is because it doesn't fit the Blackwing ethos.

A six-speed manual transmission is available on the CT5-Blackwing. (Cadillac)

 

[SID297]

The real money for Caddy will be in an Escalade version of that.

 

[Weather Man]

Volkswagen powers ahead with electric plans as ID.4 launches
Feb. 02, 2021 8:53 AM ETVolkswagen AG ADR (VWAGY)By: Clark Schultz, SA News Editor1 Comment

• Volkswagen (OTCPK:VWAGY) says presales of additional ID.4 models will start later this month in around 30 European countries including Germany, as well as in the U.S. The German automaker expects deliveries to customers to begin as soon as March in Europe and China, and from the middle of the year in the U.S.
• Of the deliveries planned for 2021, around two thirds will go to Europe, the other third to China and the U.S. In China, the ID.4 will come to customers in two variants, the ID.4 CROZZ and ID.4 X.
• With the global rollout of the ID.4, Volkswagen says it is underscoring its ambition to become a global market leader in electric mobility. The company aims to invest more than €11B by 2023 and produce 1.5M electric cars a year by 2025.
• The ID.4 marks the beginning of the global rollout of the MEB platform for Volkswagen.
• "The ID.4 plays an important role. With this model, Volkswagen is expanding its range to include an electric vehicle in the world's largest growth segment, the compact SUV class. The market launch of our world car is therefore an important strategic milestone for the brand," notes Volkswagen Passenger Cars CEO Ralf Brandstätter.

 

[Weather Man]

Toyota U.S. sales up 0.2% in January

• Toyota (TM +1.3%) reports January sales up 0.2% Y/Y to 166,232 units vs. consensus of -1.6%.
• Toyota division sales grew 0.2% Y/Y to 146,591 units and Lexus division sales up 0.1% to 19,641 units.
• Hybrid sales rose 78.4% to 36,487 vehicles for the month, representing nearly 16% of total 2020 sales volume.
• SUV sales +7.9%, Sienna +76.5%, Pickup sales +6.1% and Tundra sales -4.8% for the month.
• Truck sales up 8.6% Y/Y to 114,822 and car sales -14.5% to 51,410 units.

 

[Weather Man]

Ferrari startles with carbon-neutral target

• Ferrari (RACE -3.9%) is likely to face some headwinds as it looks to cut tailpipe emissions, according to WSJ's Heard On The Street column.
• It is noted that on a call with analysts, Chairman/acting CEO John Elkann mentioned a "startling" plan to make the company carbon-neutral by 2030, while also appearing to rule out pure battery-electric Ferraris to achieve that goal.
• That leads to the questions of what it will cost and whether hybrid strategies alone will be enough to protect Ferrari from potential bans on gas engines.
• Looking way down the road, Ferrari will hold an investor day in the first half of 2022 to lay out its overarching strategy.
• Read more about what Elkann said on the Ferrari earnings call today.

 

[Weather Man]

2020 I-PACE | Electric SUV | Jaguar USA

 

[CobraBob]

The real money for Caddy will be in an Escalade version of that.

Yep, I read a news piece on it. The anticipation is high on the Escalade.vv Did you watch the video?

 

[Weather Man]

Subaru of America has the best January sales in history

• Subaru (OTCPK:FUJHY) reports 46,400 vehicle sales for January 2021, a 0.25% increase compared to January 2020, and the best January in the history of the company.
• January marked the ninth consecutive month of 40,000+ vehicle sales for the automaker.
• Crosstrek achieved its best January ever with 10,431 vehicle sales.
• "We exceeded our sales target for January and look forward to continuing the momentum in the coming months. From our award-winning vehicle line-up, consumers were particularly drawn to the Outback, Forester and Crosstrek, three SUVs that offer safety and reliability ideal for navigating winter weather." said Jeff Walters, Senior VP of Sales.

 

[SID297]

Yep, I read a news piece on it. The anticipation is high on the Escalade.vv Did you watch the video?

No, but Bob Lutz was pushing for it a decade or more ago.

 

[Weather Man]

Meritor to produce electric powertrains for Autocar

• Meritor (NYSE:MTOR) says it landed a five-year supply agreement with specialty truck manufacturer Autocar to supply its refuse vehicles with Blue Horizon 14Xe™ integrated ePowertrains.
• Production of the ePowertrains is scheduled to begin in 2022.
• "As Meritor has developed its next-generation technologies, we have been able to align our electric powertrain products to their needs," says Meritor exec Pedro Garcia,
• Meritor's 14Xe all-electric, fully integrated, commercial electric powertrain for medium- and heavy-duty commercial vehicles, will be produced in Asheville and Forest City, North Carolina.

 

[Weather Man]

Ferrari falls 2% after Citi turns bearish with seismic industry changes ahead

• Citi drops Ferrari (NYSE:RACE) to a Sell rating as it grows cautious on the automaker on earnings pressures.
• "Additional disclosure at FY20 around the later-than-expected timing of the next 'Icona' model launch means we believe 2022 guidance is no long achievable. On this basis we have cut our 2022 EBIT to c.€1bn, which compares to consensus and guidance of c.€1.2bn," warns the firm.
• Citi also points to Ferrari management's weak commitment to 2022 targets and a seismic industry transition underway.
• In contrast, Morgan Stanley keeps an Overweight rating on RACE as analyst Adam Jonas says "you can forget about the previous 2022 targets" with the investment focus to be almost completely dominated by the shift to pure EVs from standard combustion engines.
• Ferrari is down 2.44% in premarket action and fell yesterday following its Q4 earnings report release.

 

[Weather Man]

GM joins long list of automakers impacted by chip shortages

• General Motors (GM +2.1%) is the latest automaker to warn about the global shortage of semiconductor chips.
• The automaker is taking down production entirely during the week of February 8 at plants in Fairfax, Kansas; Ingersoll, Ontario; and San Luis Potosi, Mexico. GM will also operate its Bupyeong 2 plant in South Korea at half capacity that week.
• GM isn't revealing how much volume it expects to lose or which supplier was directly affected by the chip shortage.
• "Despite our mitigation efforts, the semiconductor shortage will impact GM production in 2021," GM spokesman David Barnas tells Reuters in broad statement.
• IHS Markit warns that chip shortage could be an issue until as late as Q3.

Auto chip shortage could continue until third quarter - IHS Markit

• The global automotive chip shortage could impact 672,000 light vehicle production units in Q1, according to new IHS Markit data.
• "Because the cause of these constraints is the result of increasing demand from OEMs and limited supply of semiconductors, it will not be resolved until both forces are aligned,” says Phil Amsrud, senior principal analyst-ADAS, Semiconductors and Components at IHS.
• The research firm says the impact of the shortage could stretch into Q3.
• Ford, Toyota, Fiat Chrysler, and Nissan have all cut production output due to the shortage, and Volkswagen expects the constraints to hit its production this month.
• Top automotive chipmakers include Texas Instruments (TXN -2.4%), NXP Semiconductors (NXPI -1.0%), ON Semiconductor (ON -0.2%), Infineon (OTCQX:IFNNY) and STMicroelectronics (STM -2.1%).
• Last month, Taiwan's Economics Ministry pledged that foundry giant TSMC would prioritize auto chips if the company is able to increase its capacity.

 

[Weather Man]

Daimler to split in two with truck listing

• The Daimler (OTCPKDAIF) board AG decided to evaluate a spinoff of the Truck & Bus business and to start preparing for an independent listing of Daimler Truck.
• The spin-off of a significant majority stake in the Daimler Truck business requires the approval of the shareholders at an extraordinary general meeting of Daimler. The Daimler Truck business will have fully independent management, stand-alone corporate governance including an independent Chairman of the Supervisory Board, and is targeted to qualify as a DAX company.
• At the appropriate time, Daimler will be renamed Mercedes-Benz.
• "We have confidence in the financial and operational strength of our two vehicle divisions. And we are convinced that independent management and governance will allow them to operate even faster, invest more ambitiously, target growth and cooperation, and thus be significantly more agile and competitive," says Chairman Ola Källenius.
• Shares of Daimler are up 5.77% in Germany to follow on yesterday's gain when the board meeting was reported.

 

[CobraBob]

250 mph Tesla Roadster delayed to 2022 along with major Cybertruck roll-out - FoxNews

The upcoming Tesla Roadster promises to be the world’s quickest car, but it’s been taking a lot of time reaching the market.

A prototype for the open-top 2+2 was first revealed in 2017 and given an on-sale date of 2020. That didn’t happen, as Tesla was too focused on trying to stay in business as it launched the Model 3 sedan. Now, Elon Musk says it’s almost ready for the road, but not quite, with production set for 2022.

Musk wrote on Twitter: Finishing engineering this year, production starts next year. Aiming to have release candidate design drivable late summer. Tri-motor drive system & advanced battery work were important precursors.

Musk also said during Tesla’s recent earnings call that he’s hoping to have a few Cybertrucks on the road by the end of 2021, as initially promised, but that volume production won’t begin at Tesla’s new Austin, Tex., factory until next year.

The Roadster was originally advertised with the ability to accelerate to 60 mph in 1.9 seconds, but with the latest, much larger Model S Plaid that uses the same tri-motor drivetrain allegedly able to do that in 1.99 seconds, that number may no longer be valid.

The Roadster is also listed with a top speed of 250 mph and a 620-mile range and will be available with a SpaceX package that Musk said would add a cold gas thruster system, which could help accelerate and turn the car as well as allow it to fly "a little" in "short hops."

Reservations for the $200,000 Roadster have been available since its debut with a $5,000 deposit, while 1,000 Founders Series examples are being offered at $250,000 with the full amount required upfront to secure one.

The Tesla website indicates that reservations for both are still available.