Thu, Jul. 21, 4:59 AM
Tue, Jul. 19, 7:24 AM
- The European Commission fined a group of truck makers €2.93B ($3.24B) for colluding on truck prices for over 14 years.
- The companies which admitted to the charges include Daimler (OTCPK:DDAIF), Volvo/Renault (OTCPK:VOLVY, OTC:RNSDF, OTCPK:RNLSY), MAN (OTCPK:VLKAY), Iveco (NYSE:CNHI), and DAF (NASDAQ:PCAR). MAN wasn't fined because it came forward to alert the EC of the cartel.
- "For 14 years they colluded on the pricing and on passing on the costs for meeting environmental standards to customers. This is also a clear message to companies that cartels are not accepted," said Commissioner Margrethe Vestager.
- European Commission press release
Fri, Jul. 15, 7:49 AM
- Daimler (OTCPK:DDAIF) car registrations +16.1% to 91,289 units in June, according to the European Automobile Manufacturers Association.
- Overall EU registrations +6.9% Y/Y to 1,459,508 units in June, led by double-digit gains in Italy and Spain. Registrations were up 8% in Germany, while falling slightly in the U.K.
- Daimler market share: 6.1% vs. 5.6% a year ago.
- Daimler YTD registrations +15.2%.
- Results include the Mercedes and Smart brands.
- EAMA release (.pdf)
Tue, Jul. 12, 12:14 PM
- LMC Automotive revises its forecast on U.S. automobile sales for the period from 2016 to 2023.
- The research firm cuts its estimate for 2016 to 17.4M units from 17.7M units, with the level of retail sales being adjusted to 14.3M units from 14.0M units.
- "Our latest forecast now reflects the reality that the growth track that the US market has been on since 2009 has stalled and appears to be levelling off, but it does not necessarily signal that further contractions or an automotive recession is imminent," says LMC's Jeff Schuster.
- The extended forecast is for a slow climb to an annual selling level of 18M in 2021.
- LMC Automotive forecast (.pdf)
- Related stocks: GM, F, FCAU, TSLA, TM, HMC, OTCPK:NSANY, OTCPK:FUJHY, OTCPK:BAMXY, OTCPK:DDAIF, OTC:HYMLF, HMC, TTM.
Sat, Jul. 9, 11:15 AM
- Daimler (OTCPK:DDAIF) plans to announce the hiring of Sabine Scheunert away from PSA Peugeot Citroen to head a new digitalization unit at the company, according to a report from Automobilwoche (German).
- Scheunert was the former Chief Digital Officer at PSA before being tasked to lead the China business.
- The new digitalization unit is set to launch on August 1.
- Mercedes-Benz is one of the brands in the thick of the battle to produce the most advanced connected cars.
Fri, Jul. 8, 11:16 AM
- A thoughtful piece in Scientific American take a look at the technological challenges in delivering automated driving services.
- An electrical engineer at Carnegie-Mellon notes that the vision systems of today's automated test cars are imperfect by a "very good" margin. A mobility expert at the University of California concurs, while adding that drivers may be overestimating their car's automated capabilities due to the use of terms such as "autopilot" and "self-driving." A refined system of cameras, sensors, and radar is still believed by some engineers to be a few years off.
- Alphabet's (GOOG, [[GOOGL]) top exec in charge of the company's self-driving initiative seemed to back the view of the scientists in his recent testimony to Congress. "We saw in our own testing that the human drivers can’t always be trusted to dip in and out of the task of driving when the car is encouraging them to sit back and relax," he stated.
- Related stocks: OTCPK:BAMXY, GM, OTCPK:DDAIF, MBLY, FCAU, TSLA, F, OTCPK:NSANY, TM, HMC.
Wed, Jul. 6, 9:57 AM
- Mercedes-Benz (OTCPK:DDAIF) has tallied up its first-half delivery totals and the numbers look strong.
- A strong June brought the six-month delivery total to 1,006,619 units, up 12% from a year ago.
- Deliveries in Europe were up 14% during the period, while China contributed with a 32% pop in deliveries.
- Global demand for Mercedes SUVs has improved by 46% Y/Y.
- Daimler press release (.pdf)
Wed, Jul. 6, 9:28 AM
- It's another shocking breach of trust in the automobile sector after PSA Group (OTCPK:PEUGF, OTC:PUGOF, OTC:PUGOF) confirms that advertised fuel economy ratings on Peugeot and Citroen models don't match up with reality (off by 44% on average). Bloomberg reports that it's the first time a major automaker has confirmed a discrepancy between lab results and actual road tests across a broad range of cars.
- Official PSA lab results
- Recent failures in the automobile industry include inflated mileage claims from the South Korean automakers, the Takata disaster which deeply impacted Japanese cars, GM's costly ignition switch recall, and the topper in terms of subterfuge - Volkswagen's emissions cheating saga.
- Some automobile industry analysts have suggested that buyers are scandal-weary and are unlikely to factor in the reputation hits in their buying decisions.
- Related stocks: GM, FCAU, F, TM, HMC, OTCPK:NSANY, OTCPK:VLKAY, OTCPK:BAMXY, OTCPK:DDAIF, TSLA, OTCPK:MZDAY, OTCPK:FUJHY, OTCPK:SZKMY, TSLA, OTCPK:MMTOF, OTC:HYMLF.
Tue, Jul. 5, 2:18 PM
- Truckmakers face heavy fines from the European Union over price fixing charges, according to Bloomberg.
- Although some truck manufacturers have set aside provisions to pay for the expected penalties, it's unclear which companies will end up having the largest exposure.
- The sector is down across the board on the day, including PACCAR (NASDAQ:PCAR) -3.1%, Navistar (NYSE:NAV) -9.1%, Daimler (OTCPK:DDAIF) -5.4%, Volvo (OTCPK:VOLVY) ADRS -6.1%, Supreme Industries (NYSEMKT:STS) -8.5%, and CNH Industrial (NYSE:CNHI) -6.6%.
Fri, Jul. 1, 4:21 PM
- Mercedes-Benz (OTCPK:DDAIF +1.5%, OTCPK:DDAIY +1.5%) became yet another automaker to post its best-ever June today, with U.S. total sales up 2.3% to 31,965 vehicles.
- Mercedes-Benz passenger cars were up 1.5% to 28,473 units.
- Van sales rose 26.3% to 3,085; Smart car sales fell 47.4% to 407.
- In key models, C-Class -17.4% to 6,867 units; E-Class/CLS +5.8% to 4,292; GLE/M-Class +27.5% to 4,515; GLC/GLK +47.9% to 3,771.
- YTD Mercedes-Benz sales overall fell 0.5% to 181,132 units (passenger vehicles -1.3% to 162,777 units).
Fri, Jul. 1, 7:54 AM
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY) says its financial services unit has agreed to acquire Athlon Car Lease International for €1.1B ($1.22B), more than tripling the size of its fleet management business.
- Daimler plans to integrate Athlon, which manages a fleet of 250K vehicles in 11 European countries, into its own fleet management business, adding rival makes and lifting the combined number of cars and vans under management to 340K.
- Athlon is part of Dutch bank Rabobank's DLL unit, one of the world's largest vendor financing companies.
Mon, Jun. 20, 10:31 AM
- Automaker stocks are taking news of increased support for the U.K. staying in the EU extremely well. The sector is considered sensitive to F/X disruptions due to the large footprint of the major manufacturers.
- This year has seen strong demand in Europe and better-than-anticipated volume numbers from China support aggressive plans for capacity in the industry and far-reaching R&D initiatives. Despite some bottom-line improvement, Detroit automaker Ford (F +2%) and General Motors (GM +2.2%) still trail the S&P 500 Index for the year and trade with single-digit PE ratios.
- Gainers today include Fiat Chrysler Automobiles (FCAU +5%), BMW (OTCPK:BAMXY) +5.1%, Daimler (OTCPK:DDAIF) +3.9%, Toyota (TM +3.6%), Tata Motors (TTM +3%), and Nissan (OTCPK:NSANY +3.2%).
Thu, Jun. 16, 7:43 AM
- Daimler (OTCPK:DDAIF) car registrations +14.1% to 79,908 units in May, according to the European Automobile Manufacturers Association.
- Overall EU registrations +16% Y/Y to 1,288,220 units in May, led by +20% gains in Italy, France, and Spain. Registrations were up 12% in Germany and 3% in the U.K.
- Daimler market share: 6.0% vs. 6.1% a year ago.
- Daimler YTD registrations +14.9%.
- Results include the Mercedes and Smart brands.
- EAMA release (.pdf)
Tue, Jun. 14, 1:51 PM
- EV truck maker Nikola Motors has taken a page out of the Tesla playbook by releasing pre-order information and scheduling an unveiling event for later in the year.
- The startup has taken down 7K reservations with deposits for the Nikola One electric truck. The reservations total $2.3B worth of orders. The Nikola One is promised to have 2,000-horsepower, 1,200 miles of range, and a 320-kWh battery.
- The class 8 semi-truck is due to be unveiled by the company at an event on December 2.
- "Our technology is 10-15 years ahead of any other OEM in fuel efficiencies, MPG and emissions. Weare the onlyOEM to have a near zeroemission truck and stilloutperform diesel truck runningat 80,000 pounds," says CEO Trevor Milton.
- "We believe wewill pass the current market leaderslike Daimler, PACCAR, Volvo andNavistar in sales orderswithin the next12-24 months," adds the exec.
- Related stocks: NAV, PCAR, OTCPK:GELYF, OTCPK:DDAIF, OTCPK:VOLVY, OTCPK:VOLVF.
Mon, Jun. 13, 6:39 PM
- Deliveries in China rose 11% Y/Y in May to 1.79M units, according to the China Association of Automobile Manufacturers. Total deliveries including commercial vehicles were up 10% to around 2M units.
- SUV demand was strong again, with deliveries up 36% during the month to 627K units.
- Dealer inventory fell to an average of 1.54 months from 1.55, but still stands above the 1.50 mark which is considered the beginning of a high level of inventory.
- The May tally is considered significant coming on the heels of the Beijing Auto Show in April when some new models were introduced.
- Previous on China May auto sales: Ford, GM, Mercedes-Benz.
- Related automaker stocks: OTC:CQCAF, OTCPK:GWLLF, OTCPK:GWLLY, OTCPK:GELYF, OTCPK:GELYY, OTCPK:BYDDY, OTCPK:BYDDF, KNDI, OTCPK:DNFGY, OTCPK:DNFGF, OTCPK:DDAIF, OTCPK:VLKAY, OTCPK:BAMXY.
Mon, Jun. 13, 7:54 AM
- Daimler (OTCPK:DDAIF) and state-owned BAIC Motor plan to invest 4B yuan ($608M) to expand an engine plant in Beijing.
- The joint venture partners manufacture Mercedes-Benz vehicles at the site.
- The signing of the agreement was presided over by German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang who are meeting in Beijing for trade talks.
The Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles.
Sector: Consumer Goods
Industry: Auto Manufacturers - Major
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