kscarbel2

The Numbers In Q2 2018, sales (deliveries) from Volvo Group’s truck operations amounted to 59,571 units, up 14 percent from 52,058 units in Q2 2017.  Q2 2018 Volvo brand truck sales (overall) rose to 33,933 units globally, up 19 percent from 28,510 units in Q2 2017. Q2 2018 Volvo brand truck sales in North America rose to 8,204 units, up 45 percent from 5,665 units in Q2 2017. Q2 2018 Volvo brand truck sales in Europe rose to 16,018 units, up 2 percent from 15,745 units in Q2 2017. Q2 2018 Volvo brand truck sales in Africa/Oceania (includes Australia, New Zealand) rose to 1,648 units, up 23 percent from 1,345 units in Q2 2017. Q2 2018 Mack brand truck sales (overall) rose to 6,300 units globally, up 14 percent from 5,507 units in Q2 2017. Q2 2018 Mack brand truck sales in North America rose to 5,840 units, up 16 percent from 5,023 units in Q2 2017. Q2 2018 Mack brand truck sales in South America declined to 182 units, down 18 percent from 221 units in Q2 2017. Q2 2018 Mack brand truck sales in Africa/Oceania (includes Australia, New Zealand) rose to 278 units, up 6 percent from 263 units in Q2 2017. Q2 2018 Renault Truck brand sales (overall) rose to 14,212 units globally, up 8 percent from 13,110 units in Q2 2017. Q2 2018 Renault Truck brand sales in Europe rose to 12,897 units, up 8 percent from 11,941 units in Q2 2017. (Q2 2018 Renault Truck brand medium/heavy truck sales in Europe rose to 8,258 units, up 6 percent from 7,808 units in Q2 2017. Q2 2018 Renault Truck brand light truck sales in Europe rose to 4,639 units, up 12 percent from 4,133 units in Q2 2017.) Q2 2018 Renault Truck brand truck sales in South America rose to 129 units, up 126 percent from 57 units in Q2 2017. Q2 2018 Renault Truck brand truck sales in Asia rose to 496 units, up 8 percent from 458 units in Q2 2017. Q2 2018 Renault Truck brand truck sales in Africa/Oceania (includes Australia, New Zealand) rose to 647 units, up 4 percent from 624 units in Q2 2017. Q2 2018 UD (Nissan Diesel) brand sales (overall) rose to 5,126 units, up 4 percent from 4,931 units in Q2 2017. Q2 2018 UD (Nissan Diesel) brand sales in Asia rose slightly to 4,037 units from 4,021 units in Q2 2017. Total Global Deliveries by Brand Q2 2018 Q2 2017 % Change Volvo 33,933 28,510 19  Renault Trucks 14,212 13,110 8 UD (Nissan Diesel) 5,126 4,931 4 Mack 6,300 5,507 14 Total Deliveries 59,571 52,058 14 Total Global Deliveries by Truck Size Q2 2018 Q2 2017 % Change Heavy Duty (>16 metric tons) 50,961 44,075 16 Medium Duty (7-16 metric tons) 3,846 3,762 2 Light Duty (<7 metric tons) 4,764 4,221 13 Total Deliveries 59,571 52,058 14  Total Global Deliveries by Region Q2 2018 Q2 2017 % Change Europe 28,915 27,686 4 Heavy & medium 24,276 23,553 3 Light duty 4,639 4,133 12 North America 14,114 10,720 32 South America 3,857 2,692 43 Asia 9,077 7,823 16 Africa & Oceania* 3,608 3,137 15  Total Deliveries 59,571 52,058 14  * includes Australia, New Zealand

Volvo Group Press Release / October 20, 2017 In Q2 2018 net sales increased by 18% to SEK 103.6 billion (87.9). Adjusted for currency movements and acquired and divested units sales increased by 16%. Adjusted operating income amounted to SEK 11,519 M (8,402), corresponding to an adjusted operating margin of 11.1% (9.6). Adjusted operating income in Q2 2018 excludes a capital gain of SEK 818 M. Reported operating income amounted to SEK 12,337 M (8,402). Currency movements had a positive impact on operating income of SEK 672 M. Diluted earnings per share of SEK 4.53 (2.86). Operating cash flow in the Industrial Operations amounted to SEK 8.3 billion (11.9). CEO’S Comments Demand in our main markets was solid in the second quarter of 2018, and both our vehicle and service business continued to grow at a good pace. Our net sales increased by 18% to SEK 104 billion, we improved the adjusted operating income by SEK 3 billion to SEK 11.5 billion and we reached an adjusted operating margin of 11.1% (9.6). This is the first time that the Volvo Group’s sales have exceeded SEK 100 billion in a single quarter and it is also the first time the operating margin is above 10%. With an operating cash flow of SEK 8.3 billion in the Industrial Operations we continue to have a strong financial position. Our truck business had a good sales development and increased profitability despite a continued stretched situation in parts of the supply chain, primarily in North America. Truck deliveries increased by 14% and net sales by 16% to SEK 65.2 billion. All truck business areas improved their profitability, which contributed to increasing the operating income to SEK 7.2 billion (5.3) with an operating margin of 11.1% (9.4). Demand in the European truck market continued to be on a good level with high freight activity, which supports our customers’ profitability. In North America demand increased strongly, primarily driven by growth in the highway segment. In total, net order intake for trucks increased by 10% globally. Together with our suppliers we are working hard to meet demand and reduce delivery times to our customers. However, given the strong demand, we expect the supply-chain constraints to remain in the near-term. Construction Equipment continued the solid development with both increased sales and improved profitability. High demand in most markets in combination with competitive products contributed to the order intake increase of 41%. Net sales rose by 32% to SEK 24.4 billion and the adjusted operating margin improved to 15.1% (13.3). The increased sales volumes and maintained cost level resulted in a substantial profit increase. Buses’ sales of SEK 6.9 billion were on about the same level as in the preceding year while the operating margin amounted to 3.8% (4.6). Volvo Penta’s sales continued to increase and the growth is paired with improved profitability. Net sales increased by 15% to SEK 3.6 billion and the operating margin improved to 19.9% (15.5) during the seasonally strong second quarter. Our customer financing operations in Financial Services increased the new financing volume and continued to have low credit losses as a result of strict credit approvals and good customer profitability. Return on equity increased to 15.0% (14.0). We continue to invest in new products and technologies to the benefit of our customers. In the second quarter the activity level was high. Among the news was that Mack Trucks will have a fully electric refuse truck in operation in 2019 at one of our major customers in North America, New York City Department of Sanitation. Renault Trucks presented their second generation of fully electric vehicles with a complete range from 3.5 to 26 tonnes for use in cities. Volvo Buses launched the biggest renewal of the European product portfolio for long-distance coaches in more than 20 years. In the US we showcased platooning together with FedEx on a highway in North Carolina. This was the first on-highway demonstration of platooning technology between a major truck manufacturer and a transportation company in the U.S. Volvo Penta demonstrated an advanced system for self-docking; a solution for one of boating’s most stressful maneuvers, with a planned launch in 2020. All of these new products will strengthen our future competitiveness. Our strategy of growing in services is also generating results, and in the quarter the currency-adjusted service sales grew by 8%, with all our business segments improving their performance. We see further potential for growth on the back of investments in increased workshop capacity, growing vehicle populations and higher penetration of service contracts. The Volvo Group is well-invested with strong assets and our strategy serves both our customers and ourselves well. We continue our efforts to improve efficiency in all parts of the Group and in the entire supply chain, and even though we are moving in the right direction there is still potential for improvement. Finding the balance between investing in new technologies and areas with good potential while at the same time maintaining cost consciousness and flexibility will continue to be in focus during the year. Martin Lundstedt President and CEO Volvo Group 2nd Quarter Report - Volvo-Q2-2018--PDF-(PDF, 1.1 MB)

Reuters / July 19, 2018 STOCKHOLM (Reuters) - Swedish truckmaker AB Volvo beat second-quarter profit estimates on Thursday, managing to lift margins despite bottlenecks in the supply chain as demand for trucks remained strong. Volvo, like European rivals Daimler and Volkswagen, is experiencing rapid growth as construction fleet buyers step up purchases, but parts of the supply chain are struggling to cope, causing raw material, transport and labor costs to climb. Costs have also increased for some vehicle parts, autos machinery and raw materials used by automakers as Beijing and Washington slap tariffs on goods imported from each other as part of the escalating trade war. Chief Executive Martin Lundstedt said Volvo was seeing a gradual stabilization in the supply of brakes and other powertrain items in Europe, but in the United States there were still supply bottlenecks and a new shortage of workers. Tariffs imposed by the United States had also inflated the cost of some products it imported and increased prices for some locally-sourced raw materials, he added. Volvo, which has cut 10 billion crowns of costs in recent years to boost profitability, sill saw its quarterly operating margin surpass its 10 percent target for the first time. Lundstedt said there was “still potential” for further cost savings. He said Volvo was compensating for some of the tariff-related raw material cost rises by negotiating with suppliers and was passing the rest on through its supply chain. “We have a cost increase related to the tariffs... but we’ve been working on moving that forward... in the delivery chain because this is something that we cannot take,” he said, adding that Volvo expected to be able to do that for the rest of 2018. CFO Jan Gurander said that the company had also built up some excess inventory to mitigate supply chain disturbances. “In this type of strong market, both in Europe and North America, it would be strange if you didn’t have these problems in the supply chain. But they are handling it pretty well,” Handelsbanken Capital Markets analyst Hampus Engellau said. Volvo’s shares, which have faltered since it highlighted the acute bottlenecks and related costs in first-quarter results, rose as much as 3.4 percent before paring gains to trade up 1.6 percent at 151 Swedish crowns at 0902 GMT. UNEASY OWNERSHIP During the second quarter, which ended in June, China’s Geely completed its purchase of a 14.9 percent voting stake in the truckmaker. Geely also recently bought a stake of almost 10 percent in Germany’s Daimler but the rationale for becoming the main shareholder in the two rivals remains unclear. Volvo’s underlying business remained strong. Operating profit jumped to 12.3 billion crowns ($1.4 billion) from 8.4 billion crowns a year ago, coming in well ahead of the 10.8 billion crowns forecast in a Reuters poll of analysts. Profit was, as expected, partly boosted by a capital gain from the sale of a Chinese subsidiary. The company’s order intake of trucks, which sells under brands Volvo, Mack, Renault and UD Trucks, grew to 60,656 units from 52,265 units a year ago, missing expectations of 63,201 units. Lundstedt said this was due to some product mix changes and also customers’ buying decisions being affected by some of the price increases it had introduced. Volvo maintained its full-year forecast for truck markets in North America and Europe but also hiked the outlook for medium and heavy duty trucks in India and heavy-duty trucks in China.

Fleet Owner / July 18, 2018 By enhancing performance and efficiency across an engine’s operating range, the company says, 2-Step VVA can help engine manufacturers further improve fuel consumption and reduce tailpipe emissions, as well as deliver a range of other benefits. Jacobs Vehicle Systems, a manufacturer of heavy-duty diesel engine retarding systems and valve actuation mechanisms, has launched a new 2-Step Variable Valve Actuation (VVA) system. By enhancing performance and efficiency across an engine’s operating range, the company says, 2-Step VVA can help engine manufacturers further improve fuel consumption and reduce tailpipe emissions, as well as deliver a range of other benefits. The introduction of 2-Step VVA is a progression from Jacobs’ VVA intake and exhaust system, which has given major engine manufacturers more than two decades of reliable service. The new system’s relative simplicity reflects years of research and development on flexible VVA to yield an optimized two-position system that provides a large portion of the benefits in a more cost-efficient way. 2-Step VVA provides the combustion engineer with the ability to optimize valve timing at two operating points instead of the traditional single-timing option when they are driven from a fixed cam. “By simplifying our variable valve technology, we have made a commercially desirable trade-off, only slightly reducing some of the performance benefits of fully-flexible VVA but greatly reducing calibration complexity and cost," said Steve Ernest, vice president of engineering and business development. "Jacobs offers tailored solutions based around an individual customer’s engine architecture and the problems they are looking to solve. We’re giving engine designers the ability to add some VVA flexibility without having to make significant base-engine changes.” Jacobs has many years’ experience of opening and closing valves to enable engine braking. As market demand grew for increased fuel economy and exhaust gas after-treatment control, it was a logical progression for Jacobs, both in engineering expertise and commercial positioning, to also offer customers similar valvetrain flexibility during positive power. Many small but cumulatively-significant performance benefits Thousands of hours of successful engine testing, on the bench and in vehicles, have shown the benefits of 2-Step VVA. Early or late intake valve closing reduces fuel consumption, optimizes compression ratio versus load, improves transient response and start-up, and improves emissions by keeping the after-treatment system hot during low load operation. Early exhaust valve opening enables faster warm-up of the engine and after-treatment system, improves transient turbocharger response and emissions by keeping the after-treatment system hot during low load operation. It can also be an in-cylinder solution for helping with diesel particulate filter regeneration by replacing expensive and low-reliability exhaust heaters and dosers. Internal exhaust gas recirculation stabilizes cold start-up combustion, shortens engine warm-up time, improves after-treatment performance, and lowers emissions by keeping the aftertreatment system hot during low load operation. This system is available in both exhaust or intake valve opening variants, responds faster than external exhaust gas recirculation (EGR) systems, and enables the downsizing or elimination of external EGR systems. In more technical detail: 2 Step VVA Systems Early intake valve closing is achieved by operating on an early closing profile main event with the auxiliary valve motion (normal closing) deactivated. Late intake valve closing is achieved with a late-closing cam profile activated on the auxiliary rocker arm to hold the valve open longer. Both early and late 2-Position VVA systems have mechanical start-up without oil pressure. Early exhaust valve opening is achieved with an early-opening cam profile on the auxiliary rocker arm, or lost motion system, and actuated on demand with engine oil. Auxiliary events for internal exhaust gas recirculation and compression release braking are conveyed in the same manner as intake or exhaust 2-Position VVA systems. Cylinder deactivation is also possible through the use of Jacobs’ Lost Motion Valve Bridge technology.

I still like the Australian market product (which offered CAT engines). It’s evident that much time and effort was invested. Attractive trucks too.

One aspect, the Detroit/Mercedes-Benz powertrains are superior to the current Volvo product, e.g. Bosch fuel injection versus Delphi, and feature a proper common rail architecture.

Ford's LCV leader details strategy to build on strong sales start Nick Gibbs, Automotive News Europe / July 17, 2018 Ford claims brand leadership over PSA Group in Europe's van segment because of the popularity of its four-vehicle Transit model range, which includes everything from the Fiesta-size Transit Courier to the 2-ton Transit. Ford also leads the growing 1-ton pickup segment with its Ranger. Last year, just over a quarter of the brand's 1.36 million sales in the region were light commercial vehicles, a rise of 7.2 percent from 2016. The division is led by Dutchman Hans Schep, who was promoted to the position in 2016 after heading Ford’s marketing team in Europe. He spoke with Automotive News Europe Correspondent Nick Gibbs. Ford has had a strong start to the year for its sales of LCVs. Where are you getting the new customers? We've been very successful in some markets for a long time -- for example, in the UK. [Last year, a third of Ford's European LCV sales took place there.] But now we're No. 1 in seven markets in Europe, so we're not just dependent on the few markets. What is driving sales of vans? Moving goods is clearly an area of growth. There's an opportunity with [the rise of] internet ordering. How important are vans to Ford's bottom line? It's a significant part of profit contribution for us. Extending our leadership is an important part of our European plan. Are margins higher than cars? They're healthy. Does Ford have enough capacity in Spain, where you make the Transit Courier and Connect, and Turkey, where you build the Transit Custom and Transit, to reach your goals? We announced a capacity expansion in Turkey. Twice last year, we increased our capacity; and by the middle of this year, we will be at full capacity again in Turkey. That’s enough for our growth plans, but that's being constantly evaluated. You are not the only automaker pushing van growth. How do you stay ahead? A continued breadth of offering is key. In the next 18 months, we will be relaunching all our commercial-vehicle products; and we will have the freshest lineup, which is critical. We're working very hard to be leading on fuel economy and resale value — key drivers of cost of ownership. What technologies can you lean on to improve fuel economy? We recently introduced our brand new Panther diesel engine (EcoBlue), and that's a leading engine on fuel economy. You've got a plug-in hybrid Transit coming next year, and you have a tie-up with DHL's electric-vehicle vanmaker, StreetScooter. What are your electrification targets? There's a lot more than putting a battery in. It's linked to use case. For instance, if the battery results in less payload, requiring customers to change business models, then that's not the right solution. We are currently piloting the plug-in hybrid together with our customers and teaming up with DHL on StreetScooter to really understand how the last-mile delivery customers use their vehicles. We're convinced our world will look very different in a few years. What's next with StreetScooter? StreetScooter put its powertrain into our big Transit, and we're working together with them to optimize the product for their specific use case. We plan to build 2,800 vehicles this year, making it one of the largest EV van producers in Europe in 2018. What is the engineering overlap with cars in terms of van platforms? The two bigger vans share a dedicated van platform, but we share technologies — for example, the driver assistance features we are introducing. The smaller vans — the Courier and Connect — are shared with subcompact and compact cars, respectively. How little do the vans change when sold outside Europe? We have the global engineering facility for the Transit range in the UK, so that's the first scale opportunity. The big Transit is also manufactured in the U.S., and the 1-ton Custom is also sold in Asia. They are different by region, but they use the same platform everywhere in the world. So, the van is a true global product? The use cases are pretty similar around the world. Of course, there are differences. But everywhere you need to move stuff around, which allows us to look at global solutions. What is driving the growth of pickups in Europe? The growth is very much in the retail space. I guess customers are still looking for expressive vehicles, and pickups are really an exponent of that. What are the new trends with the delivery-van market? Within the next 18 months, we will be putting modems into our commercial vehicles, so 100 percent will be connected. Then we will be able offer our customers much more than products on wheels but solutions to improve their own businesses. We see significant opportunity there. We will be talking more about that this year. .

The "junk" that Navistar built for CAT was designed by......CAT. They were deeply involved in every detail. Interestingly, the US market CAT on-highway truck website is still up...........https://www.cat.com/en_US/products/new/equipment/on-highway-trucks.html As is the CAT Trucks Australia website, which is actually quite impressive..............http://www.cattrucks.com.au/

Call Watt's Mack, sponsor of the BMT website, at 1-888-304-6225.

.

House members write EPA asking for ‘documents’ related to 2017 study of glider kit emissions James Jaillet, Commercial Carrier Journal (CCJ) / July 17, 2018 Seven members of the U.S. House have asked the Environmental Protection Agency to provide them with “all documents and communication” related to a late 2017 study used to promote regulating emissions of glider kit trucks. The request appears to be the beginning of a probe by Congress into alleged improper contact between EPA staffers and employees at Volvo Trucks. Volvo, which owns Mack, has lobbied against the repeal of the glider emissions restrictions, as have Cummins and Daimler. The July 12 letter from the lawmakers is the latest in a saga over whether the EPA should cap the number of trucks glider kit builders can make and sell annually. The glider industry, led by Fitzgerald Glider Kits, says the emissions regulations could severely harm their businesses. The glider kit segment has seen burgeoning sales, especially among smaller fleets and owner-operators, since the 2008 round of tighter emissions regulations for manufacturers of new trucks and engines. Glider kits, in contrast, were exempt from major emissions regulations enacted in 2008 and 2014, as those rules applied only to new engines. Glider kits are new truck bodies and chassis equipped with older, remanufactured engines and transmissions. 2016’s Phase 2 rule sought to stamp out the growth of the glider kit segment. EPA officials said in 2016 that glider increasingly accounted for a major share of emissions from new truck sales. The issue is settled short-term, as the EPA said that it will, at least through the end of 2019, not enforce the Obama-era regulations, which capped glider makers at building 300 trucks a year. The EPA also has a rule in the works to more permanently exempt glider builders from the Obama-era Phase 2 emissions regulations. That rule has not yet been made final. At the same time the agency was working on the proposal to rescind the 2016 glider kit regulations, the EPA also was conducting a study to compare emissions output from glider kit trucks to new vehicles operating under 2014 emissions standards. The study concluded glider kits did produce greater emissions of greenhouse gases and particulate matter. Concerns were later raised about the study and its conclusions, due to alleged contact between EPA staffers and Volvo employees. Five members of the House in June wrote the EPA asking the agency’s Inspector General to investigate the claims. Two others also signed the July 12 letter asking for the EPA to submit the requested documents and communication. Signatories of the July 12 letter are Reps. Brian Babin (R-Texas), Gary Palmer (R-Alabama), Andy Biggs (R-Arizona), Lamar Smith (R-Texas), Bill Posey (R-Florida), Clay Higgins (R-Louisiana) and Ralph Abraham (R-Louisiana). A separate ethical cloud hangs over the matter following a competing study on glider kits, commissioned by Fitzgerald and performed by Tennessee Tech University. That study found that glider kits do not produce greater emissions than new trucks. TTU told EPA to disregard its study while the school investigates questions regarding its efficacy. Volvo in June told Overdrive that the company did nothing unethical or illegal regarding the EPA study. “Like most of the trucking industry, the Volvo Group for several years now has argued that the improper use of glider kits [???] is bad for the environment and unfair to manufacturers who have invested in the latest environmental controls. All our communication and cooperation with the EPA on this issue has been an entirely appropriate part of a broad trucking industry advocacy effort – we did nothing improper,” Volvo said in a statement. Volvo and Mack do not offer truck bodies for use as gliders. Most gliders are Paccar brands, Peterbilt and Kenworth, or Daimler brands, Freightliner and Western Star.

Heavy Duty Trucking (HDT) / July 17, 2018 The proprietary Kenworth AG400L tandem rear suspension is now standard equipment on the OEM's T680 on-highway flagship truck. The AG400L is rated at 40,000 pounds and is compatible with disc brakes. The four-bag suspension is designed to be a cost-effective solution for over-the-road and delivery applications. A trailer arm design can result in a smooth ride and the suspension is also easy to service, according to Kenworth. “The Kenworth AG400L provides the T680 driver with a comfortable and smooth ride,” said Kurt Swihart, Kenworth marketing director. “The suspension is also virtually maintenance free with few moving parts, and there are no periodic adjustments or lubrication required.” Kenworth’s family of proprietary suspensions also includes the Kenworth AG130 front air ride suspension, and the AG210, AG380, AG400, AG460 and AG690 rear suspensions. .

James Menzies, Truck News / July 17, 2018 David Carson, the newly installed president of Western Star, says the company is positioned for growth in the vocational segment and poised to take advantage of a strengthening market. Speaking to the truck press for the first time since he took over as president in January, Carson noted residential and non-residential construction spending has finally recovered to pre-recession levels. He said up to $4.5 trillion must be spent to repair deteriorating U.S. infrastructure, and some major projects can’t be planned for. “If a bridge goes, it has to be fixed,” Carson said. “If a critical highway has some sort of erosion or surface issue, investments have to be made. Brands like Western Star have to have the right products with the right body builders, and new solutions available for when those projects come around.” Carson said Western Star is making significant investments in the vocational segment. “We are vocationally oriented, and that marketplace is extremely important to us,” he said. “We understand they are very different markets. You might be doing one or two truck deals in a vocational transaction rather than hundreds or thousands of trucks in on-highway.” Carson vowed parent company Daimler Trucks North America is committed to the brand. “Western Star is here to stay,” he said. “And we are really working to grow and develop the business, and I look forward to doing that.” Samantha Parlier, vice-president, marketing and product strategy, is also new in that role, taking over in January. She said Western Star has strived to clearly define what a vocational truck is. “A vocational truck is designed in such a way, it’s going to do a job or a series of jobs that couldn’t be substituted by rental, linehaul or P&D trucks,” she explained. “People are buying these trucks because they have a job to do.” Dump trucks represent the largest vocational segment, at about 15,000 units a year. But Parlier said there’s no reliable data that breaks down the vocational truck market. Even dump trucks can vary greatly, with tandems, tri-drives, and lift axles commonly being spec’d. “There are more than 3,000 counties and all have their own laws,” Parlier said. “Customers and dealers need to understand the laws and regulations in their specific areas. Bodies change dramatically.” Bulk haul, heavy haul, crane, snow plow, mixer and vac trucks make up the other popular vocational segments. Not to mention logging, which was how Western Star got its start. “It was started in Kelowna for one reason. There were lots of logs and trees to be cut down and we built the trucks to do it,” she said. “We still retain our dominance in the logging industry in the Pacific Northwest and other areas.” To be successful selling vocational trucks, Parlier noted, “we need to understand the needs of our vocational customers. It’s complicated, not straightforward, and everyone has different needs.” One segment that’s finally showing some signs of life is the Canadian oilpatch. “We are seeing some activity being driven by it,” Carson said. “I wouldn’t say it has rebounded necessarily. Customers and dealers haven’t seen that, but clearly as oil price goes up all those opportunities north of the border become more viable from an economic standpoint.”

Given Ford's continuously escalating investment in it's Turkish operation (Otosan) and likewise rewards, and Bill Ford's passionate personal connection with the Koc family (since 1928), I don't see any possibility of Ford bailing there. Brazil is a struggle, and always has been. VW is king. Ford, Iveco, Scania and Volvo do well.....all things considered. They've all enjoyed some great years, but the market and profits are currently down. The governments of both Brazil and South Africa are clueless about how to jump-start their faltering economies.

http://www.wattstruckcenter.com/store/index.php?route=product/product&product_id=260&search=shell

Ford to Pay $299.1 Million to Settle Takata Consumer Lawsuit Bloomberg / July 16, 2018 Ford Motor Co. has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata Corp. air-bag recalls. The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners or lessees of Ford vehicles who are waiting for their air bags to be fixed, according to the pact. The settlement will also increase outreach efforts to find consumers whose vehicles still have defective air bags. Ford is the latest automaker to settle the economic loss claims, following a $533 million agreement last year by Toyota Motor Corp., Subaru Corp., Mazda Motor Corp. and BMW AG and a separate pact by Nissan Motor Co. for $98 million. General Motors Co., Fiat Chrysler Automobiles NV, Volkswagen AG and Daimler AG’s Mercedes-Benz continue to litigate these claims, plaintiffs’ lawyers said in a statement Monday. The massive Takata air-bag recalls, the largest in history, led to the company filing for bankruptcy in 2017 and spurred lawsuits by consumers and accident victims. The air bags can malfunction and send shards of metal at drivers and passengers. Monday’s settlement doesn’t cover personal injury or wrongful death claims. The consumers sued the automakers and Takata claiming they incurred economic losses, including costs of renting vehicles, while waiting for air bags to be replaced. The Ford settlement will cover about 6 million vehicles and requires court approval. “These settlements are proving to be vital in protecting consumers from dangerous Takata airbags,” Peter Prieto, lead counsel for the plaintiffs, said in a statement. “We remain focused on working with our customers to get their vehicles repaired,” Elizabeth Weigandt, a Ford spokeswoman, said in an email Monday. “Parts are available for all of the Ford vehicles in priority groups one through three, and we urge customers to contact their dealer immediately for free repairs.” The case is In re: Takata Airbag Product Liability Litigation, 15-md-02599, U.S. District Court, Southern District of Florida (Miami).

GM discontinues Chevrolet City Express small van Michael Wayland, Automotive News / July 16, 2018 DETROIT -- General Motors has discontinued the Chevrolet City Express, a small work van which the automaker has marketed under a partnership with Nissan Motor Co. since 2014. Dealers, according to a GM spokesman, were told of plans to drop the small van last summer. Final orders were taken in September 2017 and production of the last 2018 Chevy City Express vans -- a derivative of the Nissan NV200 -- ended at Nissan's assembly plant in Cuernavac, Mexico, in February. The GM-Nissan pact was a quick, cost-effective way for Chevrolet to enter the small-van segment, which Ford Motor Co. has dominated since essentially creating the domestic market with the Transit Connect in 2009. When unveiling the City Express in February 2014, Ed Peper, U.S. vice president of GM fleet and commercial sales, said the company saw "tons of opportunity" in the small commercial van market. But Chevrolet gained little traction in the emerging segment. Less than 30,000 City Express units have been sold in the U.S. since it went on sale in November 2014. That's less than one year of Ford Transit Connect sales, which have averaged more than 42,500 annually since 2013. City Express sales peaked at 10,283 in 2015 -- its first full year on the market. That same year, Ford sold more than 52,200 Transit Connects and Nissan sold more than 17,300 NV200s. Fiat Chrysler Automobiles sold more than 11,000 Ram ProMaster City vans that year -- its first year of sales. A GM spokesman declined to comment on reasons for the move or if the vehicle is expected to be replaced. The supply agreement, according to a Nissan spokeswoman, was on an annual basis. She said Nissan "remains committed to the compact van segment." Nissan controls about 25 percent of the U.S. compact van segment, which dropped 9.5 percent in 2017 and has shrunk another 7.1 percent this year. The discontinuation of the small van will not impact the Chevrolet Express and GMC Savana, which remain the only major body-on-frame offerings in the full-size van segment. .

Chevy underestimated the overachieving Blazer Automotive News / July 16, 2018 New Roads, Chevrolet's owners magazine, profiled 101-year-old former chief truck engineer Paul Hitch in its latest issue and turned up a choice anecdote about the origins of the Blazer, the nameplate the brand has announced it is bringing back. Hitch, who retired in 1978, began working for General Motors in 1935 and was Chevy's truck engineering boss from 1965 to 1976. He oversaw development of the first Blazer in 1969. "We were trying to compete with the Ford Bronco, so we discussed it," Hitch recalled. "I said, 'Why don't we just take a Chevrolet pickup, cut the wheel base to 104 inches, marry the pickup box to it, and see what that does?' "We put it out to the sales department. They estimated they could sell 300 a year. Pete [Estes, then Chevrolet's general manager and GM's future president] said, 'Well, go ahead and do it anyway.' And that year, we sold 5,000 and we didn't have enough tooling capacity to make any more. That was one funny, unusual situation." Chevy stopped producing the Blazer in 2005 but last month unveiled a 2019 version as a midsize crossover. .

I'm guessing the E7 spec was the problem.

My favorite light truck, the classic original Bronco.

A bubble by the rich, for the rich Keris Lahiff, CNBC / July 16, 2018 Look to the stock market and you’d assume Wall Street was doing just fine. The S&P 500 has come back to March highs, the Dow is back to positive for 2018, and the Nasdaq is at fresh records. It’s all built on shaky foundations, said longtime market bear and former Republican Congressman Ron Paul. This market is in the “biggest bubble in the history of mankind,” and when it bursts, it could cut the stock market in half, he told CNBC’s “Futures Now” Thursday. “I see trouble ahead, and it originates with too much debt, too much spending,” Paul said. This isn’t the first time Paul has made such dire warnings. During a “Futures Now” appearance in August 2017, he predicted a 50 percent drop in the market, a call he has doubled down on a number of times since. Since that appearance, the S&P 500 has rallied 15 percent. Paul belongs to the Libertarian Party, a faction that emphasizes constrained government spending. He sees federal spending and monetary policy as dual forces inflating a market bubble. “The Congress spending and the Federal Reserve manipulation of monetary policy and interest rates — debt is too big, the current account is in bad shape, foreign debt is bad and it’s not going to change,” he said. Paul isn’t alone in his critique. A number of politicians have voiced concern over ballooning deficits, including current House Speaker Paul Ryan, who raised a warning on the nation’s debt in 2012. The Congressional Budget Office estimates that federal deficits will average $1.2 trillion a year from 2019 to 2028, according to its April economic outlook. Its 2018 deficit estimates rose by $242 billion over previous forecasts made in June 2017. The federal agency said the revision was mainly owing to lower projected revenues tied to tax reform. To Paul the decision-making arm of the Fed is equally at fault in creating a market bubble. “The Fed will keep inflating, and that distorts things,” Paul continued. “Now they’re trying to unwind their balance sheet. I don’t think they’re going to get real far on that.” The Fed is more than two years into its rate-hiking cycle. In conjunction with rate hikes, the Fed is also unloading assets from its balance sheet, which expanded to $4.5 trillion during its post-financial crisis quantitative-easing program. Paul is not confident much will change to divert from the disaster he predicts. “The government will keep spending, and the Fed will keep inflating, and that distorts things,” said Paul. “When you get into a situation like this, the debt has to be eliminated. You have to liquidate the debt and the malinvestment.” Paul reiterated his call on Thursday for a potential 50 percent sell-off on the stock market.