The morning shiftAll your daily automotive news in one convenient place. Isn’t your time more important?
Daimler is getting better, Nikola is getting less and less convincing day by day, Foxconn is getting more and more into cars and BMW has issued a fire recall. All this and more The morning shift for October 16, 2020.
1st gear: Daimler did better than expected in Q3
Volvo did the same, but Volvo is the truck maker and not Volvo the car maker. This rebound was not expected by analysts, but one had to think that a rebound in car sales was going to occur sooner or later.
Daimler stock jumped 4.5% on Friday after the luxury automaker posted better-than-expected third-quarter results, supported by a better-than-expected rebound in luxury car sales in September.
European car registrations edged up in September, the first increase this year, industry data showed on Friday, suggesting a recovery in the auto sector in some European markets where coronavirus infections were lower.
Swedish truck maker AB Volvo VOLVb.ST also posted third quarter core profits well above expectations thanks to a strong increase in orders.
Daimler’s third-quarter profit before interest and taxes hit 3.07 billion euros ($ 3.59 billion), he said Thursday evening, beating the consensus of 2.14 billion euros of Refinitiv.
G / O Media can get commission
2nd gear: Foxconn steps up cars
You may know Foxconn as the maker of iPhones and a ton of crap from other electronics. The Taiwanese company also has an interest in cars, which Bloomberg this it gets much more serious.
On Friday, it announced its first electric vehicle chassis as well as a software platform that aims to help electric vehicle manufacturers get models to market faster. The company also outlined its intention to launch a solid-state battery by 2024 that could potentially replace the lithium-ion batteries most commonly used in electric vehicles.
President Young Liu, who succeeded founder Terry Gou in July 2019, has looked to the emerging automotive, robotics and medical applications industries to drive profitability amid stagnant smartphone growth in recent years. years. Apple Inc. still accounts for around 50% of overall sales for Hon Hai, also known as Foxconn Technology Group, but the company is looking to diversify its role as an assembler of consumer electronics like Macbooks and Sony Playstations.
The company is aiming for a 10% share of the electric vehicle market by 2025, with around 3 million vehicles using its platform, Liu told reporters on Friday.
3rd gear: Nikola isn’t so hot with the badger anymore
The start of the electric truck that met problem after problem and could actually be a complex fraud don’t talk about his badger anymore, according to the Financial Times.
“The Badger was an interesting and exciting project for some shareholders, but our institutional shareholders are primarily focused on the business plan,” Nikola boss Mark Russell told the Financial Times on Thursday.
“Our main business plan since before our IPO has always focused on heavy trucks and hydrogen infrastructure.”
Mr Russell described the Badger differently in February, four months before joining the company to become chief executive. He called it “a game changer” that “would help reduce the cost of our semi-truck’s fuel cell components while speeding up the deployment of the hydrogen station.”
Everything Nikola says only reinforces the perception that this company won’t ever make him cross the line.
4th gear: Oh, nothing, just a few BMW fires
The company has issued a recall for some of its plug-in hybrids due to “thermal events”.
Of Automotive News:
BMW has recalled 26,900 plug-in hybrids around the world after discovering a problem within the battery that could potentially cause a fire.
The models cover BMW’s wide range of plug-in hybrids, from the 2 Series Active Tourer to the flagship 7 Series sedan, and are “primarily” in Europe, the company said, without giving a figure.
The BMW recall includes 4,509 vehicles in the United States. NHTSA documents indicate that the battery maker is Korean supplier Samsung. BMW said it had not received any reports, or was aware of any accidents or injuries related to the fault, but it also admitted that a “thermal event” had occurred.
“On August 4, 2020, BMW became aware of a field incident involving a 2021 model year BMW X5 in which the vehicle suffered a thermal event,” BMW said in NHTSA documents. “An analysis has been launched. Between early August and mid-September, BMW became aware of three additional incidents on the ground. “
Now, a recall on hybrids is an American seriomenace for any automaker playing ball in Europe –Ford’s hybrid recall there meant he feared he could face huge fines for missing his CO2 targets if he doesn’t buy emissions credits from another automaker. BMW claims it’s not worried, according to AN:
Although the recall delays delivery of plug-in hybrids, BMW said it still expects to meet its new, stricter CO2 emissions target for the fleet in Europe this year.
Go to NHTSA website to check recalls of your own non-BMW car.
5th gear: New York automotive culture
Le New York Times took a look about New York’s “insanely boisterous” car culture, an automotive culture – speaking like someone who lives in Queens, where much of NYT history takes place – that’s neither crazy nor particularly loud. There is car noise that I listen to every day in my window, but the buses are noisier. The same goes for car horns when delivery trucks park and block traffic.
This article reads like it was written by someone new to cars and mod culture, which, you know, it probably was.
Here is an exerpt:
However, there are different degrees of intensity. A particular point of rage among those who hate these cars – an issue that even divides their fans – is an adjustment called a straight pipe. These tailpipes, after tuning to a car’s computer, make the exhaust sound like a gunshot, expelling a build-up of air with a rapid-firing pow-pow.
Manmeet Nijjar, 26, an aviation administration student at Farmingdale State College, said he found inner peace in the Midtown tunnel. This is where he rolls down his windows, turns off his radio, and turns his engine on (of course, his car has no mufflers). “I love this sound!” Mr Nijjar said of a mechanical shop in Willets Point, Queens, while a technician added more bells and whistles to his car.
The article has a strong “reefer madness” energy.
Gear heads, hot rods and their impromptu, sometimes risky rallies have long existed in corners of the city where subways are scarce and car ownership is not a foreign concept. But during the long, boring months of the pandemic lockdown, more people seem to have flocked to the hobby, according to interviews and noise complaints.
The increase in noise complaints came as bored young men (mostly men) sought a social diversion but somewhat removed socially. Each person is sealed in their own car, after all.
While few of the city’s mechanics have reported an explosion in car modification orders, worshipers say the pandemic has given them time to make the modifications themselves. Some said their stimulus checks helped; half of what [Zejy Rodriguez, 20,] got the government this spring went straight into his BMW.
So the government stimulus checks were actually a bad idea because some people used some of the money to modify their cars. OK, NYT. I’m very glad you noticed, but do better next time!
Reverse: Hell Yes
Neutral: how are you?
I’m driving to Shelter Island this weekend as I’ve never been there and it’s my birthday tomorrow. I plan on doing nothing but injecting alcohol into my veins. It is 36.