Autos – Econo Lodge Zanesville Ohio Tue, 12 Oct 2021 00:03:51 +0000 en-US hourly 1 Autos – Econo Lodge Zanesville Ohio 32 32 Auto body shops see delays in receiving parts Mon, 11 Oct 2021 23:40:10 +0000
Obtaining products and parts is a constant problem for businesses of all types.

STARKVILLE, Mississippi (WCBI) – Obtaining products and parts is an ongoing problem for businesses of all types. The automotive industry is a particularly affected area. Auto body shops around the world have experienced delays in obtaining the parts they need to perform repairs, hampering their business.

“I’m just trying to keep my head above water by fixing what we can and managing what we can in front of us,” said Allen’s body shop manager JD Edwards.

For Edwards, it has been difficult to get the parts they need to get people back on the road. It’s a problem they’ve been dealing with for some time.

“When the pandemic started it was a bit difficult, then it got better… now all of a sudden it’s back like no one can do anything with coins. I would say this year is worse than last year, ”said Edwards.

Edwards said the parts are there; they just have a hard time getting them to the stores.

“From what I’ve been told, they all lack help moving the pieces. It’s not necessarily that they can’t get coins, it’s just that they don’t have anyone to help them out, ”Edwards said.

Accidents happen, whether in life or while driving; some are worse than others. Edwards encouraged people who don’t have major damage to their cars to wait patiently for those who do.

“I schedule people for two weeks and sometimes three weeks depending on the severity of their wreck. If your car can be driven, I ask you to wait a few weeks and let me remove some of the ones that aren’t, because these people literally have nothing to do, ”Edwards said.

Edwards and his team strive to get cars in and out as quickly as possible. It doesn’t matter which body shop people go to; they are encouraged to be patient and understand that delays affect everyone.

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Poor auto financial data could lead to lower sales, but forecast points to a strong turnaround Sun, 10 Oct 2021 13:52:40 +0000

Car sales forecasts for Western Europe are reduced and investors are bracing for the poor 3rd Quarterly financial results from major manufacturers, but analysts say the worst is behind the industry and next year will be in the sunny highlands.

The industry is being disrupted by the chip supply crisis, and while this has perversely helped German high-profit carmakers who can make a lot of money selling a limited number of popular gas guzzlers, even them are starting to feel the effects of the drop in production. that assembly lines stammered for lack of critical components.

BMW and Daimler are expected to weather the storm better than Volkswagen, including its high-end subsidiaries. Mass market manufacturers face the biggest hits.

Forecaster LMC Automotive lowered its forecast for the 3rd month following a barely noticeable 0.5% increase for 2021 to 10.74 million cars and SUVs, even less than the previous year’s coronavirus-crushed total of 10.79 million. LMC had forecast a healthy 9.6% gain for the year as recently as July, but continued with a forecast up 3.0%, then 2.5% a month later and now 0.5%.

“The outlook for the market has once again been downgraded, reflecting the continued and deeper impact of the supply disruption, with tight inventories unable to absorb the impact of the disruption. We currently anticipate that this year will not eclipse the hopelessly weak result of 2020, ”LMC said in a report.

“Our assumption is that supply issues (chips) will be with us throughout next year and will continue to undermine the link between the positive underlying demand drivers and new vehicle sales. The downside risk of some form of virus-related restrictions remains, although in market terms this is currently overshadowed by bottlenecks in vehicle production, ”the report said.

UBS investment bank agrees that the next 3rd The quarter will be gloomy, but next year’s profits will rise by up to 20% for European automakers, adding that it is time to buy auto stocks. UBS said global production fell about 18% in the 3rd quarter, which resulted in lower profits for most companies.

“But the low point in the global production rate may already be behind us and the demand for cars is still far outstripping supply. It’s time to increase exposure to auto stocks. We put Daimler (owner of Mercedes-Benz) to “buy” because of its earnings momentum, its compelling luxury electric vehicle (electric vehicle) strategy and its potential for value creation after the Trucks spin-off UBS said in a report.

The Daimler Truck Holdings spin-off will take place in December. Daimler retains a 35% stake.

UBS said global production will increase 15% in 2022 to 88 million cars and SUVs.

“In a context of low dealer inventories and a large order book, prices and the mix will probably remain solid. We are increasing our EPS (earnings per share) for automakers by 15-20% in 2022. With this, automotive will likely be among the sectors where earnings dynamics will be the highest over the next 12 months, ”said UBS.

Bernstein Research agrees that the 3rd quarter will hurt manufacturers’ profits a bit, but not all. Mercedes from BMW and Daimler will look great compared to VW.

“The current volatility will also reveal which companies have done their homework when it comes to managing fixed costs in recent years. From our conversations with companies, it looks like the fundamentals of BMW and Daimler will be much more protected than those of the VW Group. We recommend that you be long Daimler / BMW in the next results season. VW will need to explain more, ”said Arndt Ellinghorst, analyst at Bernstein Research, in a research note titled“ What a quarter tells us about quality ”.

“VW has by far the highest fixed costs as a percentage of industrial revenue, over 30%, while Daimler and BMW operate with fixed costs in the order of 25% of sales. This largely explains why margins will decline further at VW during the current supply disruption, ”said Ellinghorst.

“We expect VW’s mass market brands to lose money and the margins of its premium brands to shrink significantly,” he said.

Volkswagen’s mass market brands include its own VW nameplate, as well as Skoda and SEAT, while the biggest premium brands are Audi and Porsche.

Morgan Stanley Investment Bank

also awaits the 3rd quarter to provide a lot of negatives in the United States, but sees a quick end to the negativity.

“We are prepared for a very messy third quarter automotive results (in the US) at the worst of the chip shortage. But the production cuts seem well telegraphed, so don’t be surprised to see investors buying the Q3 chip drop. But to what end, ”said Adam Jonas, analyst at Morgan Stanley.

Jonas said that a recent forecast of sharply declining global vehicle production by data forecaster IHS Markit

maybe was too hard.

“In a recent survey of our customers, more than half of survey respondents believe the IHS has cut too much and is more of a lagging indicator on chips,” Jonas said.

Jonas said Morgan Stanley estimates 2021 production at 76.4 million and 2022 at 84.5 million.

IHS Markit said last month that global light vehicle production could be reduced by 6.2% – about 5 million vehicles – in 2021. For 2022, the forecast has been reduced by 9.3%, or about 8, 4 million vehicles. IHS Markit also cut its 2023 forecast, by 1.1%, to just over 1 million vehicles. IHS Markit now estimates production at 75.8 million vehicles this year and 82.6 million in 2022.

This compares to UBS’s expectations of 88 million vehicles in 2022.

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Former Cabinet Secretary defending NM Car Dealers Sat, 09 Oct 2021 04:05:00 +0000
Tesla owners attended a celebration for the opening of an electric vehicle sales and service center in Nambe on September 8, 2021. (Eddie Moore / Albuquerque Journal)

SANTA FE – A recently retired Secretary of the State Cabinet who oversaw New Mexico’s first major foray into electric vehicles for government fleets has gone to work in a lobby group for auto dealerships as they protect control state-authorized direct sales of new vehicles against electric incursions – automaker Tesla and other potential rivals.

Ken Ortiz retired in June as Secretary of the General Service Department. He began working as president of the New Mexico Automobile Dealers Association publicly defending New Mexico’s ban on direct sales of motor vehicles and highlighting local employment provided by them. car dealerships.

Tesla forged a route around the state’s direct sales ban last month by opening a store and repair shop on self-governing Native American lands in Nambé Pueblo, northern New Mexico. This marked a new approach in Tesla’s long-standing struggle to sell cars directly to consumers and exclude dealers from the process.

The company run by business mogul Elon Musk can freely sell and service its vehicles in just a dozen states.

In a comment delivered to news outlets this week, Ortiz asserted that new car dealers – not direct car makers – are best equipped to deploy electric vehicles and accelerate the transition to cleaner transportation in response to the climate change.

Contacted by phone, Ortiz said Tesla “isn’t really the problem.”

He added, “We just think that with the existing franchise law, outside of sovereign countries, the dealers are there for a reason. We are anchored in local communities, we contribute to state taxes, with the payroll.

Heather Ferguson, executive director of government accountability group Common Cause New Mexico, said Ortiz’s rapid transition from cabinet secretary to industry spokesperson smacked of crony capitalism.

“The perception this creates, in the wake of the Tesla deal, is concerning,” said Ferguson. “Each of these things shakes the state’s national reputation as to whether companies can come in and get a fair shake. It hurts our economy. “

Proposals to allow direct sales of vehicles without a dealer were rejected by the state legislature as late as 2019.

Gov. Michelle Lujan Grisham said through a spokesperson on Thursday that she would support reforms to the state’s legal ban on direct sales of new vehicles if initiated and approved by the legislature.

Ortiz has earned a reputation as a trusted and competent public administrator in state government under the leadership of elected Democratic and Republican leaders, with roles ranging from director of the motor vehicles division to secretary of the state labor agency.

Appointed in 2019 by Lujan Grisham, Ortiz guided the General Services Department in contracting multi-million dollar improvements to government buildings aimed at greater energy efficiency, integrating solar power and reducing utility bills. electricity.

Under Ortiz, the agency also introduced plug-in electric vehicles to the state’s fleet – and negotiated standardized prices for government agencies with local car dealerships for electric models Chevy Bolt and Nissan Leaf, chosen for compatibility. .

Ortiz said he was at least two steps away from these dealership negotiations.

He said the New Mexico Automobile Dealers Association has contract lobbyists.

“So far, I haven’t yet registered as a lobbyist because I haven’t worked with lawmakers,” Ortiz noted.

Ethics laws in most states provide for a mandatory waiting period before someone leaving public office can lobby or register as a lobbyist.

New Mexico does not have a “cooling off” period before former officials can lobby lawmakers. The state’s government conduct law provides for a one-year waiting period before a former public official can lobby the agency where he worked.

Concerns about the revolving door between government and industry surfaced in 2016 when Ryan Flynn became executive director of the New Mexico Oil and Gas Association weeks after stepping down as secretary of the Department of the Environment under the government of the day. Susana Martinez, a Republican.

Lujan Grisham spokeswoman Nora Meyers Sackett said on Thursday the governor would support some kind of additional “cool-down” period if introduced and approved by the Legislature.

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Ford PU foam containing graphene reduces noise and weight of cars Thu, 07 Oct 2021 14:51:09 +0000

DENVER (ICIS) – Ford Motor has successfully incorporated graphene into polyols, producing polyurethane (PU) foam that reduces noise in automobiles while reducing weight.

The material is a finalist for the Polyurethane Innovation Award, awarded by the Center for the Polyurethanes Industry (CPI) at the Polyurethanes Technical Conference.

Graphene is a form of carbon that is one atom thick. It is almost transparent and yet so dense that helium cannot pass through it.

It rose to prominence in 2004 when two scientists from the University of Manchester described how they isolated the material using common duct tape. Their work won them the Nobel Prize in Physics in 2010.

Less than a decade after scientists won the award, Ford was able to incorporate graphene into polyols.

Now the foam is used in all North American Ford vehicles.

One of the biggest challenges in foam development was to disperse a nanomaterial like graphene in a viscous polymer and prevent it from collapsing during mixing, said Alper Kiziltas, technical expert, durability and emerging materials at Ford.

XG Sciences has supplied graphene chemically compatible with PU in sufficient quantities and at a reasonable cost, Kiziltas said. Eagle Industries, a Tier 1 PU moulder, participated in the processing of the foam.

Polyols with graphene couldn’t be processed like a typical additive, he said. To maintain the properties of graphene, the material had to be treated differently.

“Coupled with the needs of the Eagle manufacturing process, a unique method of combining and dispersing graphene with the polyol side of the foam was developed,” Kiziltas said.

Ford’s other challenge in developing the PU was conceptual. For new materials, it is commonly believed that an application will obtain better properties if it consumes more material.

Counterintuitively, Ford began to reduce the concentration of graphene in the polyol, Kiziltas said. As the concentration decreased, the performance of the resulting foam improved.

Graphene now makes up less than 0.3% of the foam, he said. “We have obtained very good mechanical, thermal and physical properties.”

Formulating PU with graphene was remarkably straightforward, Kiziltas said. It required almost no change other than adding graphene.

Other challenges were typical of those companies face when introducing new materials.

One was cost, because customers are price sensitive. Ford needed to make sure the new foam was at least cost neutral, Kiziltas said.

Also, since foam is a new material, Ford needed to make sure it would meet or exceed the part’s requirements, Kiziltas said.

The strength and compressive modulus have increased by about 20% compared to foam made without graphene, he said. Thermal deviation improved by 30%. The sound absorption coefficient has increased by 25%.

Components made from the foam were over 10% lighter, he said.

Automakers are keen to reduce the weight of their vehicles because they can travel farther with a tank of fuel, which allows them to emit less emissions.

Ford introduced foam in 2018, and it is used in components such as engine covers, oil pump covers, and fuel rail covers.

These covers are limited to internal combustion engines. However, Ford sees potential uses for the foam in electric vehicles (EVs).

It turns out that the white noise of the engines hides the rumble and squeaks that come with everyday driving. These annoying noises are much more pronounced in electric vehicles because they lack internal combustion engines.

Ford’s foam could be used in headlining, door panels and under the carpet to reduce noise from electric vehicles, Kiziltas said.

Companies outside the auto industry are also learning about foam, he said.

The polyurethanes technical conference runs until Thursday.

Interview article by Al Greenwood

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Alibaba, JD, Nio Rivals Xpeng, Li Auto Lead Seng Higher Amid Optimism Over Potential Biden-Xi Meeting Thu, 07 Oct 2021 07:08:14 +0000

Actions of Alibaba Group Holding Limited (NYSE: BABA), JD.Com Inc. (NASDAQ: JD), Baidu Inc. (NASDAQ: BIDU), Tencent Holdings Inc. (OTC: TCEHY), Xpeng Inc. (NYSE: XPEV) and Li Auto Inc. (NASDAQ: LI) are all trading significantly higher in Hong Kong on Thursday.

What is moving: Shares of Chinese e-commerce giant Alibaba traded up 3.9% to HKD 142.70 in Hong Kong, while shares of e-commerce company JD.Com rose nearly 3.6 % to 283.00 HKD and those of technology company Baidu rose 3.2% to 147.90 HKD.

See also: How to Buy Xpeng Engine Stock (XPEV)

Meanwhile, shares of electric vehicle maker Xpeng rose nearly 4.3% to HKD 141.60 and its counterpart Li Auto rose 3.4% to HKD 107.00.

Shares of tech conglomerate Tencent Holdings traded up nearly 3% to HKD 459.60.

Actions of China Estate Holdings Ltd. jumped more than 30.3% to HKD 3.78 after Bloomberg reported that the family of the company’s largest shareholder, Joseph Lau Luen-hung, offered to privatize the company for HKD 1.91 billion ($ 245 million).

China Estates is a former majority shareholder of a heavily indebted real estate developer Evergrande Group in China (OTC: EGRNF).

The Hong Kong benchmark Hang Seng Index is up 2.5% Thursday at the time of writing. The index closed down nearly 0.6% on Wednesday.

Why is it moving? The Hang Seng Index is up, led by tech stocks, following positive overnight signals from Wall Street and optimism about the resumption of talks between the United States and China.

The american president Joe biden plans to meet the Chinese president virtually Xi Jinping before the end of this year, CNBC reported, citing sources.

Shares of Chinese companies closed largely higher in US trading on Wednesday after major US averages erased early losses to end in positive territory.

Shares of Alibaba closed up nearly 0.7%, while shares of Nio ended down 0.6%.

Read more: Cathie Wood sells 0.4million Tesla, buys 0.5million Ginkgo Bioworks down as stocks become the target of short sellers

See more Benzinga

© 2021 Benzinga does not provide investment advice. All rights reserved.

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Getting a fair price for a used car with bad credit Wed, 06 Oct 2021 18:09:57 +0000

Getting a fair price on a used car is a good goal, regardless of your credit score. Knowing how to get the lowest price possible is especially important for borrowers with bad credit, as bad credit usually increases the price of finance.

Find your fairest deal

The auto market is gonzo right now. New and used inventory is at a low point, and new inventory is slow to arrive. If you’re a bad credit borrower in need of a new car, maybe now is the time to buy, and we’ve got some tips to help you find the lowest loan cost you can afford. be eligible.

1. Find your car and inventory

With the auto market looking a bit empty these days, it is a good idea to research the vehicle you are considering purchasing. Models that have been in high demand may be more difficult to find, so you may need to work with a dealer to locate the make or model you want.

Remember that buying used usually means buying as is. This means that there is no recourse if something goes wrong right away. For this reason, it’s a good idea to take a look at the make and model you are considering to make sure it retains its value and gets good reviews from current and former consumers. The more popular models are also likely to have a higher price tag. If there is a vehicle that meets your needs but isn’t in demand for some reason, it doesn’t hurt to keep it running for a test drive. You can love the car and save money too.

2. Rate the store

If you find a vehicle you want and have the option of getting it in a few different places, it’s a good idea to apply to at least two or three of them to see which lender you are looking for. offers the best deal. This is called buying rates.

When you evaluate the store, you apply for the same type of loan from several lenders within a short period of time – usually around 14 days. The credit bureaus can see that you are looking for the right deal, so. all inquiries should appear on your credit report, but only one of them has a temporary impact on your credit score. This allows you to lose fewer points when looking for a fair price on a used car and a good loan to go with it.

3. Know what to negotiate

Auto loans and car prices are not uniform, and they are not set in most cases (although some dealerships offer “no-haggle” prices that are not open to negotiation). There are several things that can usually be negotiated in the buying process, so make sure you know where you are at before you start trying to stare at a dealer.

You can also negotiate the terms of the loan with an auto lender. Know what your credit rating is and what the average interest rate is for someone in a similar situation – that way you have a leg to lean on.

Note that you can usually negotiate with a dealership: the selling price of your vehicle, your down payment amount, dealership additions, and dealership documentation fees. The things that cannot be changed are your tax, title, and license fees. Be prepared to fight for a fair price and know that you can always give up on a deal that doesn’t meet your needs.

4. Make a trade

If you have a car that you need to get rid of, this could be the key to getting a fair price on your next used car. Having a trade-in can lower the price of your next car if there is equity. This means that you owe the car less than it is worth. Right now, used cars are in demand, so you might get an even better price for your business, depending on its condition.

ACE advice: First negotiate your used car offer. Getting the dealership to accept the lowest price before telling them you have a trade-in can be to your advantage and go a long way in helping you get a good price.

Ready to find your own offer?

If you have bad credit and are ready to fight for a fair deal, we’ve got you covered. Here has Auto Express Credit, we’ve put credit-distressed borrowers in touch with dealers who have been able to help them for over two decades, and we want to help, too. Our dealer network is signed up with subprime lenders who know how to help you even if you are in bad credit or no credit.

To get started, simply complete our quick, no-obligation auto loan application form.

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Alibaba (NYSE: BABA), (NASDAQ: JD) – Alibaba and Nio vie with Xpeng, Li Auto strike wins in Hong Kong as JD and Tencent fall as Chinese debt and power crises remain d ‘news Wed, 06 Oct 2021 03:41:51 +0000

Actions of Alibaba Group Holding Limited (NYSE: BABA), Xpeng Inc. (NYSE: XPEV) and Li Auto Inc. (NASDAQ: LI) are up in Hong Kong on Wednesday, while JD.Com Inc. (NASDAQ: JD), Baidu Inc. (NASDAQ: BIDU) and Tencent Holdings Inc. (OTC: TCEHY) are trading lower.

What is moving: Shares of Chinese e-commerce giant Alibaba traded up 2.4% to HKD 138.60 in Hong Kong, while shares of e-commerce company JD.Com fell 0.6% to HKD 274.00 and those of technology company Baidu about 0.1% to HKD 143.70.

See also: How to Buy Xpeng Engine Stock (XPEV)

Meanwhile, shares of electric vehicle maker Li Auto rose 4% to HKD 103.60, and shares of its counterpart Xpeng rose 2.3% to HKD 137.60.

Shares of tech conglomerate Tencent Holdings were down 0.4% to HKD 448.00.

The Hong Kong benchmark Hang Seng Index has drifted down after a positive start and is down nearly 0.9% at the time of writing. The index closed up nearly 0.3% on Tuesday.

Why is it moving? Hang Seng Index Pulls Back Amid Concerns Over China’s Heavily Indebted Real Estate Sector Following China Evergrande Group (OTC: EGRNF) debt crisis. The electricity crisis in China also continued to weigh on investor morale.

Rating agency Fitch reviews said he downgraded the Chinese real estate developer Sinic Holdings (Group) Company Limited after some of the company’s subsidiaries failed to pay interest on onshore financing agreements

Meanwhile, the South China Morning Post reported that China is expected to approve the first batch of rental-backed real estate investment trusts (REITs) soon, as part of efforts to control soaring house prices. .

China has ordered its banks to prioritize loans to coal and energy companies to overcome the electricity crisis and secure supplies in the winter, according to a Bloomberg report.

Shares of Chinese companies closed sharply higher in US trading on Tuesday after major US averages rebounded from a sell-off in the previous session.

Shares of Alibaba closed up 2.5%, while those of Nio stocks ended up 1.4%.

Read more: Tesla still pays its debts, says Elon Musk as company prepays loan to China

© 2021 Benzinga does not provide investment advice. All rights reserved.

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Tennessee’s auto industry well positioned for the future Tue, 05 Oct 2021 15:42:46 +0000
  • Former US Senator Lamar Alexander was governor of Tennessee when Nissan (in 1980) and General Motors (1985) announced they would build Tennessee’s first auto and truck assembly plants.

Will Tennesséens have as many automotive jobs over the next 40 years as we have had over the past 40 years?

Ford Motor Company’s Sept. 27 announcement that it will spend $ 5.6 billion to build electric truck and electric vehicle battery assembly plants employing 5,700 people near Memphis is another reason the answer could be “yes”.

The first reasons were Nissan’s announcement in 1980 that it would build trucks in Smyrna, General Motors’ decision in 1985 to set up its Saturn plant in Spring Hill, Nissan’s move from its North American headquarters to the California to Williamson County in 2005 and Volkswagen’s choice of Chattanooga. for its manufacturing facility in the United States in 2008.

Forty years ago, Tennessee had only one major auto supplier, the Ford Glass plant in Nashville, and was the third poorest state in family income. Nissan, GM, and Volkswagen – along with automakers who have moved to neighboring states – have attracted more than 900 suppliers to 88 of Tennessee’s 95 counties.

Today, the state’s auto sector provides one-third of all manufacturing jobs in Tennessee, or about 140,000. They are the main reason why Tennessee family incomes have grown rapidly.

Following:Ford’s Investment in Memphis Regional Megasite Turns Tennessee into Global Automotive Power | Editorial

Why there is uncertainty about the future

Ken Loveless of NKC Millwrights uses a blowtorch to complete a joint in a metal grid on June 6, 1991 that will run along the new assembly line, as part of Nissan's $ 500 million expansion of the Smyrna, Tenn plant.

The concern about the future is that with autonomous vehicles, the shift from gasoline-powered vehicles to electric vehicles, and the number of Americans driving, no one can know who will drive what in the next 40 years.

Electric cars have fewer parts than gasoline vehicles. Does this mean that many Tennessee auto jobs are going to disappear?

The best assurance that there will be new auto jobs to replace the dying jobs is that the four Tennessee automakers and their suppliers will have the resources to figure out what Americans will drive and buy, and then produce those vehicles. .