Volvo Moves Closer to All-Electric Goal
Volvo Car transformation into an electric-vehicle maker accelerated in the second quarter, reflecting a broader trend in the auto industry, which has seen sales of EVs and hybrids outperform conventional vehicles in many markets. The Wall Street Journal reports the share of pure electric and hybrid vehicles rose sharply to 31 percent of Volvo’s total sales in the second quarter of the year, even as overall unit sales fell by more than a quarter as a result of production and supply-chain woes in the wake of pandemic lockdowns in China. The Swedish car maker majority owned by China’s Zhejiang Geely Holding Group aims to become a pure electric car maker by 2030. Amid growing recession fears, some manufacturers have begun laying off staff and slashing costs. However, Volvo Chief Executive Jim Rowan said the company sees no acute threat to continued growth and is continuing to invest in its EV strategy. Amid growing recession fears, some manufacturers have begun laying off staff and slashing costs. However, Volvo Chief Executive Jim Rowan said the company sees no acute threat to continued growth and is continuing to invest in its EV strategy. Click here for the full story.
ZF Says Has Volume Contracts for Steer by Wire
Talked about for decades, steer-by-wire is ready to be unleashed in the market, with German Tier 1 ZF moving to a front-of-the-grid position among key suppliers. The advantages of the technology are numerous, from easier packaging and lower weight to more precise performance and improved safety; there’s no steering column to cause injury during a crash. Several suppliers have introduced steer-by-wire products, including Bosch, Nexteer, Mando and others, but ZF will be among the first to have the feature installed in production vehicles. Wards reports Toyota will beat ZF to the punch, however, offering the technology as an option on its upcoming ʼ23 Lexus RZ450e and Toyota BZ4X battery-electric vehicles. Toyota’s steering system reportedly comes from keiretsu supplier JTEKT. But ZF is expected to make up ground quickly, saying it will enter the market next year, having secured “significant volume contracts by multiple major car manufacturers…in all major regions.” Click here for the full story.
4 Ways to Measure Your Service Advisors’ Success
You use valuable KPIs to track the success of your service department, but how is your service advisor stacking up? As the head over what’s happening between the customer and the technicians, it’s essential that your team is operating as you desire. Otherwise, there will be a huge breakdown, causing a reduction in profitability. You must know how to measure your service advisors’ success if you want to keep getting ahead. CBT News suggests four ways to measure how the service advisor is doing. With these benchmarks in place, you can figure out who is failing and who continues to outperform. 1. Repair orders per advisor vs. quoted repairs: This might seem like the most obvious metric to use, but many service departments overlook it. A service advisor can write quoted repairs all day long, but if they aren’t turning it into sales, there’s something wrong. Click here to learn three more ways to measure your service advisors’ success.
Hyundai Motor's Q2 Profit at Eight-Year High
Hyundai Motor Co turned in its best quarterly profit in eight years as a weak won lifted the value of its earnings abroad and demand stayed strong for the South Korean automaker's high-margin SUVs. Although a chip shortage is easing, one of the world's biggest automakers, including affiliate Kia Corp, pointed to challenges such as demand crimped by inflation, higher marketing costs amid tougher competition and supply woes. Reuters reports net profit rose to $2.13 billion for the April-June period from 1.8 trillion a year earlier, beating an average analyst forecast of 2.2 trillion from Refinitiv SmartEstimate. "A robust sales mix of SUV and Genesis luxury models, reduced incentives from a lower level of inventory, and a favorable foreign exchange environment helped lift revenue in the second quarter," the firm said in a statement. That came despite a sales slowdown in an adverse economic environment, it added. The easing of a global chip shortage helped Hyundai resume overtime and weekend shifts at domestic plants, to make up for vehicle production lost because of a nationwide trucker strike in June, said analysts. Click here for the full story.
Toyota Researching New Ways to Save the Combustion Engine
While the rest of the automotive industry readies itself for the impending electric era, Toyota's hesitancy to fully embrace EVs has left many analysts scratching their heads. But as the Japanese giant has previously explained, it believes placing all its eggs in the electric basket is the wrong approach. Instead, Toyota has opted for a measured strategy and says it must provide its customers with a variety of options. Carbuzz reports Toyota is simply exploring different avenues, as evidenced by its latest announcement. Together with several partners, the brand has established the Research Association of Biomass Innovation for Next Generation Automobile Fuels. Toyota will work with Daihatsu, Suzuki, Subaru, and Eneos to research and study next-generation bioethanol fuel production. "Hydrogen and synthetic fuels based on electricity from renewable energy sources, as well as bioethanol fuel able to reduce CO2 emissions through photosynthesis in plants, are promising options, and their effectiveness has been confirmed by the Intergovernmental Panel on Climate Change," notes Toyota. Click here for the full story.
Around the Web
Hot Wheels is Working on a Diecast Model of the Lamborghini Countach [Carscoops]
‘Drive to Survive’ Made Americans Fall in Love with Formula 1 [NYT]
Gas Prices are Beginning to Trend Lower [Car and Driver]
38 of NHTSA's 47 ADAS Crash Investigations Involve Teslas [Road & Track]
