Thursday , February 27 2020
Home / Tag Archives: Cars, Trucks & Crashes

Tag Archives: Cars, Trucks & Crashes

Stocks Plunge (or Dip?), Traders Confused: This Wasn’t Supposed to Happen. Complacency Exacts its Toll

The coronavirus is just the latest in a long series of issues successfully brushed off as irrelevant because all that mattered was that stocks went up. By Wolf Richter for WOLF STREET. “Complacency” – brushing off big issues as irrelevant or nonexistent because they don’t fit into the buy-buy-buy scenario – has a way of serving up a surprise tab just when the party is hopping at its wildest. Today, we’re seeing a little of it. Already on Friday, some fallout had hit stocks, following a...

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California Auto Woes

New-Vehicle Registrations Fall for 3rd Year, -9.5% from 2016. Bay Area Hit Hardest. Q4 Was Ugly, with Tesla Plunging 46%. But Used-Vehicle Market Grows, and Market share of EVs reaches 5.3%. By Wolf Richter for WOLF STREET. It was a tough year for selling new vehicles in California. Total new vehicle registrations in California in 2019 fell 5.5% from a year earlier, to 1.89 million vehicles, the third year in a row of declines, according to registration data released today by the...

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GM Better Figure Out How to Stop Shrinking, I Mean Globally & Pronto, Before It’s Too Late

GM tries to shrink itself out of trouble. And it shrinks where it wants to grow. But when will it stop before hitting zero? Ugly charts of GM’s global vehicle sales, by region. By Wolf Richter for WOLF STREET. GM announced this weekend that it would pull out of Australia, New Zealand, and Thailand, in line with its strategy to exit one market after another to shrink itself to higher profits, which has led to a stupendous downward spiral in vehicle sales. It already pulled out of...

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Subprime Auto Loans Explode, “Serious Delinquencies” Spike to Record. But There’s No Jobs Crisis, These Are the Good Times

Nearly a quarter of all subprime auto loans are 90+ days delinquent. Why? By Wolf Richter for WOLF STREET. Auto loan and lease balances have surged to a new record of $1.33 trillion. Delinquencies of auto loans to borrowers with prime credit rates hover near historic lows. But subprime loans (borrowers with a credit score below 620) are exploding at a breath-taking rate, and they’re driving up the overall delinquency rates to Financial Crisis levels. Yet, these are the good times, and...

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Ford Better Figure Out How to Sell Vehicles, And I Mean Globally & Pronto, Before it’s Too Late

Ever since it got sidetracked by its “Smart Mobility” dream and blew billions on it, sales in its biggest markets have spiraled down. Not just in the US and China. Here are the ugly charts by market. By Wolf Richter for WOLF STREET. In a moment, we’ll venture into the bitter reality and ugly charts of how the number of vehicles Ford sells in the US, China, Europe, Canada, Australia, South America, Russia, Turkey, and other markets has been dropping – or plunging – year after year to...

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I’m in Awe of How Tesla is Now a Supernatural Phenomenon

The WTF stock chart of the year. And another WTF chart of just how tiny Tesla is compared to the top 10 automakers. By Wolf Richter for WOLF STREET. Tesla’s shares spiked another 20% this morning, or by $160, to $940 a share. Every time I write a few words, I have to go back and change the number again, because the price just keeps shooting higher. So far this year, TSLA has shot up 120%. It could very well be that by this evening, shares are down by $300 or whatever, or that they’re...

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Why Has UK Auto Manufacturing Collapsed 24% in Three Years?

81% of the vehicles are exported; they can be built anywhere. Honda is leaving. Nissan may be too. Vauxhall may be shuttered. Jaguar Land Rover offshored some production. But EV production soared. By Nick Corbishley, for WOLF STREET: Auto production in the UK slumped by 14.2% in 2019 to 1.3 million units, the lowest since 2010 when the industry was grappling with the fallout of the Global Financial Crisis. Five years ago, UK car production was growing and on target to hit 2 million...

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THE WOLF STREET REPORT: What Will the Coronavirus Do to the US & Chinese Economy?

Is this the black-swan event people have been predicting for years? Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate. I appreciate it immensely. Click on the beer and iced-tea mug to find out how: Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here.

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Tesla’s Revenues +2%, Auto Revenue +0.7%. Net Income Plunges 25%. Without “Regulatory Credits,” it Would Have Lost $28 Million. Annual Loss Hits $862 million. Shares Spike 12%

OK, let’s look at the Tesla magic briefly. By Wolf Richter for WOLF STREET. Tesla’s profit was all about Tesla’s pollution credits, or “regulatory credits,” as it calls them. These are tax credits that Tesla gets from governments and sells to other companies. There is no cost associated with them; they’re booked as revenues and flow through to profit. Tesla reported this evening that these regulatory credits jumped 40% in Q4 compared to the same period a year earlier, to $133 million....

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Tesla’s Global Deliveries Compared to the Top 10: Volkswagen, Toyota, GM, Ford, Honda, FCA, Mercedes… Here’s the Chart

Tesla’s Stock Makes it the Second Most Valuable Automaker in the World. But How About its Size? By Wolf Richter for WOLF STREET. Tesla shares took a little dip today, but no biggie. They still produce an astounding market capitalization of $102 billion, “astounding” not because the market cap per se is huge – there are now some trillion-dollar companies out there – but because the business Tesla is in: auto manufacturing and solar panels. Solar panels have been a nasty business from...

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