Good morning! It’s Wednesday, February 7, 2024, and that is The Morning Shift, your day by day roundup of the highest automotive headlines from world wide, in a single place. Here are the necessary tales it’s worthwhile to know.
1st Gear: Ford’s 2023 Revenue Hits $176.2 Billion
After Toyota blew estimates out the water with its earnings announcement yesterday, Ford desires onto the excessive rollers desk with its newest monetary outcomes. Despite struggling via a 12 months plagued with recollects, manufacturing slowdowns and United Auto Workers strikes, the Detroit-based automaker noticed its earnings rise final 12 months. Quite a bit.
According to the Detroit Free Press, the Mustang maker posted income for the total 12 months of $176.2 billion — a whopping $18 billion greater than it managed 12 months beforehand. Of that, $46 billion got here within the fourth quarter of the 12 months, when Ford was struggling via one of many largest auto employees strikes in current reminiscence. As the Free Press studies:
Ford Motor Co. on Tuesday reported 2023 adjusted earnings earlier than curiosity and taxes (EBIT) of $10.4 billion, in contrast with $10.4 billion in 2022 and $10 billion in 2021. For the fourth quarter alone, Ford reported EBIT of $1.1 billion in contrast with $2.6 billion a 12 months in the past.
For 2023, the Dearborn automaker reported revenues of $176.2 billion, up from $158 billion in 2022. For the fourth quarter, Ford reported revenues of $46 billion in contrast with $44 billion a 12 months in the past.
The Free Press places the price of the UAW strike at Ford at round $1.3 billion after it ran for a month final fall. Despite that hefty price, full-year earnings for the Blue Oval hit $4.3 billion, which marked a large enchancment on the $2 billion loss Ford posted in 2022.
However, the information wasn’t as rosy for Ford’s electrical division. The firm’s Model E unit posted a lack of $4.7 billion in 2023, however claimed it’s working to enhance manufacturing high quality and lower guarantee prices in an try to show this determine round.
2nd Gear: Cruise Offers $112,000 To Settle Crash Inquiry
After a collection of high-profile crashes, collisions and holdups on the streets of California, self-driving automobile firm Cruise is off the highway and going through inquiries and investigations from all sides. Now, the GM-backed firm has raised its provide to settle a case introduced by California courts, which might mark its first hurdle on the lengthy journey again to the freeway.
According to a report from Reuters, the autonomous taxi agency has provided to pay $112,500 to settle an investigation into its disclosure of particulars regarding a crash involving one among its self-driving automobiles. Reuters studies:
An administrative choose questioned why Cruise deserves “discounts” to the penalty, and a Cruise consultant provided to pay $112,500 to settle the case, up from a beforehand proposed $75,000 at a listening to by the California Public Utilities Commission (CPUC).
The choose grilled officers at Cruise and Quinn Emmanuel over the incident, after the CPUC in December accused Cruise of deceptive the company and the general public “through omission” on the extent and seriousness of the accident.
The investigation was opened after a Cruise automobile hit a pedestrian in October. The sufferer, who had been pushed into the trail of the Cruise automobile by one other automobile, was dragged 20 ft by the self-driving automobile. In the aftermath, it was claimed that Cruise officers omitted data, akin to the truth that the self-driving automobile “engaged in the pullover maneuver,” which Reuters studies resulted within the sufferer being dragged alongside the highway.
As effectively because the hefty payout that Cruise is providing to settle the case, the corporate additionally stated that it’s going to enhance reporting of collisions to the fee. Call me quaint, however I reckon it’s higher to have much less collisions as a substitute of simply getting higher at reporting those you do have, but it surely’s the little wins I assume.
third Gear: Driverless Waymo Cab Hits San Francisco Cyclist
On the topic of driverless automobile crashes, a Waymo cab in San Francisco has collided with a bike owner. The autonomous taxi reportedly hit the bike owner as they emerged from behind a truck, studies Automotive News.
The crash between the self-driving automobile and the bike occurred on Tuesday. Automotive News studies that the self-driving automobile broke closely to attempt to keep away from the crash, but it surely wasn’t sufficient to stop it from hitting the bike. The web site studies:
Waymo stated its automobile was at an entire cease at a four-way intersection when a big truck became the intersection. At its flip to proceed, the Waymo automobile moved ahead.
However, the bike owner was behind the truck and never seen as they crossed into the Waymo automobile’s path.
When the bike owner was totally seen, the Waymo’s automobile braked closely, however was not in a position to keep away from the collision, the corporate stated.
After the crash, the bike owner didn’t have to go to hospital and solely “minor scratches” had been reported. The causes of the crash are actually being examined by the San Francisco Police Department.
4th Gear: Mini Kills The Clubman
Prepare your eulogies, get out the commemorative placards and be prepared to lift a glass in remembrance, Mini has killed off the Clubman. Mini has constructed it’s final barn-door-touting wagon and isn’t more likely to substitute it with a brand new era, not even one thing operating on Mini’s new battery-powered platform.
This heartbreaking information was delivered to our consideration by British outlet Autocar, which studies that the weirdly lovable station wagon will die after 17 years in manufacturing in Oxford, UK. Autocar studies:
The Clubman first went on sale in 2007 as an estate-bodied model of the Mini hatchback, full with a novel vertically break up tailgate.
It was assembled on the model’s Plant Oxford facility in Cowley because it first went on sale as a part of Mini’s revival of its whole vary.
It has now bowed out to create space for the Aceman crossover and petrol variations of the brand new Cooper (in three-door, five-door and convertible kinds).
The Aceman, which hasn’t but been totally revealed by Mini proprietor BMW, might be a totally electrical crossover that’s set to interrupt cowl on the Auto China present on April 24’/;;;. But earlier than all of us get too enthusiastic about what’s to come back, let’s simply take a second to respect the weirdness of the Mini Clubman. Even if it did include a few of the worst taillights ever.
Reverse: Around The World In (Less Than) 80 Days
On The Radio: Wet Leg – ‘Supermarket’
Source: jalopnik.com