Cambridge-educated journalist and author—and Commander of the Order of the British Empire (CBE) recipient—Bryan Appleyard has mainly covered the arts and sciences in his books and articles, so in some ways, he seems unlikely as the writer of a fresh history of the automobile. Yet his new book, The Car: The Rise and Fall of the Machine That Made the Modern Worldis no ordinary history. Instead, it is a delightfully meandering romp through key milestones in the development of the automobile, and the repercussions that it has wrought—both amazing and horrific.
The Car: The Rise and Fall of the Machine that Made the Modern World
The Car: The Rise and Fall of the Machine that Made the Modern World
This simultaneous dichotomy is elemental to the book’s deftness and its allure. “I didn’t really realize what the thesis of the book was until several months after I’d written
Ford Motor Co., citing inflationary pressures throughout the supply chain, said Monday it expects to end the third quarter with adjusted earnings before interest and taxes of between $1.4 billion and $1.7 billion, down from the $3 billion in adjusted earnings it posted over the same period a year ago.
The company’s latest third-quarter guidance is also below the FactSet consensus analyst estimate of $2.98 billion.
The automaker, however, reaffirmed its full-year guidance of $11.5 billion to $12.5 billion in adjusted EBIT, which would be 15 to 25 percent more than it earned in 2021.
The automaker said that inflation-related supplier costs during the third quarter will run about $1 billion higher than it was originally expected.
It expects to finish the period with between 40,000 to 45,000 unfinished vehicles waiting on parts. Most of those vehicles, it said, will be high-margin trucks and utility vehicles.
FRANKFURT AM MAIN, Germany, Sept. 21, 2022 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) has expanded its business transformation capabilities with the appointment of Heiko Rauscher as a Senior Managing Director in the firm’s Corporate Finance & Restructuring segment in Frankfurt am Main.
Mr. Rauscher, a business transformation expert with more than 20 years of advisory experience, joins the firm from Oliver Wyman, where he was a partner. He has led complex business transformation projects for entire companies and core functions such as supply chain, production and purchasing. Mr. Rauscher specializes in the automotive and industrial sector and advises original equipment manufacturers and suppliers on international and global assignments. He lived in China for more than a decade and is fluent in Mandarin; whilst there he built and led two management consulting, including Porsche Consulting Ltd. in Shanghai.
“The automotive and manufacturing industries are facing far-reaching
Meanwhile, Ford and Hyundai Motor Group are battling for the second place in the EV horse race.
Through July, the Ford brand came in second with 27,817 registrations, powered by the Mustang Mach-E, which soared 64 percent.
The arrival of the F-150 Lightning will drive the Blue Oval’s momentum in the second half of the year.
The battery-powered pickup had 2,679 registrations as of July, Experian said.
Hyundai Motor Group represents a formidable new competitor, as it has ambitions to bring four new EVs to the US by the end of next year.
The Hyundai brand’s Ioniq 5 crossover, with 15,322 new registrations, accounted for 3.9 percent share of the US EV market through July, the last full month before its EVs we’re made ineligible for tax credits under the Inflation Reduction Act. And after just six months on the market, the Kia EV6 captured 3.5 percent share, with 13,862
“I think everybody now understands that the show is not made for the egos of the top executives of the automotive industry,” Tavares said during a virtual media roundtable during the auto show last week.
“Everybody is looking at the return on investment in a more business-oriented way, which I think is good because if we are looking for a better return on investment, it makes more sense with a more frugal and more focused way of displaying the products and technology,” he said. A lower cost of entry “means that people will come back because it makes sense to come back — compared to some old days where there was a waste of resources that led to poor return on investment that then opened the door for some people not to come because it was not, from their perspective, a good investment.”
Although just four other automakers participated in
Four dealership groups expanded their holdings with purchases of stores in first-, second- and third-quarter acquisitions.
Here’s a look at the deals involving import, luxury and domestic dealerships in Indiana, Hawaii, Ohio and Wyoming.
Lou Fusz buys Kia dealership in Indiana
Lou Fusz Automotive Network of St. Louis on Aug. 3 bought Duell’s Evansville Kia in Indiana from Doug Duell and Amish Patel.
The store’s new name is Lou Fusz Kia of Evansville.
With the purchase, Lou Fusz now has 12 new-car dealerships, two used-vehicle dealerships and a motorsports store, said Randy Fusz, who runs the family’s automotive operations with his four brothers and sister as a silent partner.
“We love the [new store’s] location,” he said. “It’s the first dealership off ‘dealer row’ on Division Street. There’s a bunch of brands that go down that road.”
The group in May also purchased Tri-Ford Inc. in Highland, Ill. The growth
The 2024 Equinox EV’s base model will have a 250-mile driving range, with higher-priced trims offering up to 300 miles. It will be GM’s most affordable vehicle powered by the Ultium battery technology that also underpins the electric Silverado, Lyriq and six-figure Hummer.
Chevy will continue making the gasoline-powered Equinox, long one of GM’s bestsellers, after the electric version arrives next year. The base model won’t be available right away, though. Chevy will begin selling a midlevel version next fall before adding the $30,000 LT1 and three other trims later in the same model year.
The Equinox EV’s arrival is expected to roughly coincide with the demise of GM’s cheapest EV today, the Chevy Bolt. The Bolt EV, which uses previous-generation batteries and has a 259-mile range, currently starts at $32,495 including shipping, but the 2023 model will cost $6,000 less to make room for the Equinox.
“With this selection, we are continuing our momentum and further demonstrating Innoviz’s capabilities as a Tier 1 supplier to the world’s leading car makers and expanding to additional geographies,” said Innoviz CEO and Co-Founder Omer Keilaf. “We are proud of the significant progress we have made, particularly in recent months, and well positioned to further strengthen and solidify our position as a leading supplier for autonomous vehicles. We look forward to supporting this new program with a fully featured solution for all levels of autonomous driving, paving the path to full L3 automation.”
The selection represents Innoviz’s fourth major design win and second nomination for series production of passenger vehicles as a direct supplier, and follows Innoviz’s recently announced partnership with Volkswagen, through which Innoviz will work directly with Cariad SE, Volkswagen’s automotive software company, to integrate the Company’s technology into upcoming Volkswagen vehicles.
David Michery, CEO and chairman of Mullen Automotive, and Robert Bollinger, CEO and founder of Bollinger Motors, will discuss Mullen’s majority acquisition of Bollinger and strategic vision for both EV companies on a live webinar scheduled for today, Thursday, Sept. 8, at 2 p.m. ET.
Mullen Automotive and Bollinger Motors Webinar is set for 2 pm Eastern
Today Mullen Announced Majority Acquisition of Bollinger Motors
BREA, Calif., Sept. 08, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces that it will be conducting a live webinar today at 2 pm ET., to discuss the majority acquisition of EV Truck Innovator Bollinger Motors, Inc.
Mullen announced earlier today that it acquired a controlling interest in Bollinger Motors, Inc. This is Mullen’s first EV acquisition and propels the company into the medium and
That leaves those living in multiunit dwellings to rely on public chargers, which can be unreliable.
A JD Power survey of 11,000 EV and plug-in hybrid owners found that one out of every five respondents was unable to charge their vehicle when visiting a station. Of those, 72 percent said the station was malfunctioning or out of service.
The federal government is working to make charging more accessible. The bipartisan infrastructure bill President Biden signed in November includes $7.5 billion to build EV charging and alternative fuel infrastructure.
There’s also a movement in the private sector. Many shopping centers near multiunit dwellings and mixed-use developments are installing public charging stations. Municipal and other government agencies also are adding charging stations to parking lots.
Automakers such as Volkswagen, Hyundai and Kia are offering free charging at various networks with the purchase of a new EV.
