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Another summer of news from the auto industry, including a major pivot by one of the major automakers
Ford CEO Says We Need to Reshape Our Vehicle Expectations: Jim Farley, who became Ford’s CEO in 2020, recently spoke at the Aspen Ideas Festival last month about the future of the automaker and why he has a love affair with EVs. The self-proclaimed “old school car person” is hoping that the average consumer will also learn to love the benefits that he says EVs deliver, including effortless acceleration and the ability to slow the car without using a brake, to name a few. With that, he announced that Ford would be focusing on making more affordable—and smaller—EVs in the coming years, including one that would be a direct competitor to China’s BYD (which currently has steep tariffs placed on it by the Biden administration). This marks a radical shift in Ford’s platform, which had mostly comprised larger vehicles in recent years.
Ford CEO Jim Farley
“You have to make a radical change to get to a profitable EV. The first thing we have to do is really put all of our capital toward smaller, more affordable EVs,” he said during the conference.
Ford famously electrified its best-selling F-150 truck—called Lightning, which is also Farley’s daily driver—but he cites the weight and cost of moving these larger vehicles on batteries alone. Farley hopes that the unnamed new vehicle in the $30,000 range will be ready in roughly two-and-a-half years for the North American market.
You can listen to the full speech here.
Volvo EX90
Volvo’s Biggest Electric SUV Is Finally Here: The Swedish automaker Volvo just released its largest all-electric SUV when the new flagship SUV rolled off their production line in Charleston, S.C., this past month. It’s one of four EVs that Volvo currently has in its lineup. Volvo began producing cars in the South Carolina city in 2018, and it is also the production facility for the EX90 and S60 sedan.
Volvo says that the EX90 is their “safest car to date” as it’s powered by a new generation of safety and technology, including a suite of sensors and cameras. It was designed to offer space, comfort, and versatility for all passengers. The seven-seater has a range of up to 308 miles and a price tag starting around $80,000. You can read more about it here.
Genesis G80
Genesis G80 Earns Top Honors: Genesis’ luxe executive sedan was once again named “Best Upper Midsize Premium Car” by J.D. Power 2024 U.S. Initial Quality Study. This is the fourth year in a row that the brand has earned the honor. The line also includes the Electrified G80, which was a 2024 IIHS Top Safety Pick. The Electrified G80 was introduced in 2022 and is the company’s second of three EVs.
“G80 remains a core product in our sedan lineup, offering customers the perfect balance of comfort and refined performance. G80’s impressive performance in this year’s J.D. Power Initial Quality Study demonstrates our commitment to delivering exceptional products and keeping our customers top of mind,” said Genesis Executive Director of Quality and Service Engineering Omar Rivera in a press release from the company.
[07.09.24]
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The training includes classroom and hands-on instruction
Canadian and U.S.-based companies with fleet operations in Canada can now take advantage of two new Safe & Smart training programs from J. J. Keller & Associates that provide driver and trainer training to meet Canada’s provincial/territorial and federal National Safety Code (NSC) standards.
“Fleets are looking for training that takes drivers beyond the baseline standards of Canada’s Mandatory Entry-Level Training (MELT),” said VP of Consulting and Training Services Dustin Kufahl. “Our Canada Driver Training Program provides them with the in-depth finishing training that enhances drivers’ safety skills, so they’ll be better equipped to prevent accidents and violations.”
J. J. Keller’s Safe & Smart Canada Driver Training Program delivers a complete curriculum of online courses, classroom instruction, closed-course range experience, and on-the-road training. According to Kufahl, the program is delivered by veteran trainers who are Canadian regulatory experts and able to speak in both English and Canadian French, allowing them to train in all provinces and territories, including Quebec.
“What makes our training so unique is that it’s tailored for the specific needs of each fleet,” added Kufahl. “That means not only can we provide training that’s specific to Canada, but we can also provide training that takes into account the types of vehicles drivers use, the types of customers they serve, the cargo they haul, the environment they drive in and more.”
For fleets that want internal staff trained to deliver the Safe & Smart Canada Driver Training Program to their drivers, J. J. Keller now also offers the Safe & Smart Canada Driver Trainer Certification Program. It provides instruction on all the driver training lessons, how to deliver that training effectively in the classroom and behind the wheel, as well as the training materials, including workbooks, online courses, PowerPoint presentations, and more. As part of the program, J. J. Keller’s experts are available year-round for training and regulatory guidance.
Visit jjkeller.com for more information.
[07.09.24]
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The Bureau of Labor Statistics (BLS) released June’s employment stats with 206,000 non-farm jobs being added to the economy last month, beating economists’ expectations of 200,000. BLS also revised May’s numbers down from a surprising 272,000 to 218,000, which caused the unemployment rate to tick up slightly to 4.1 percent. The bulk of the jobs added were again in government (70,000) and health care (48,000), while leisure and hospitality was steady at about 7,000 jobs.
This report, according to many economists, is good news that the job market is stabilizing and slowing slightly, which could lead to a much-wanted interest rate cut by the Federal Reserve, possibly as early as September, although Federal Reserve Chair Jerome Powell did not indicate that a cut was on the horizon anytime soon. The Fed has been carefully monitoring the US economy to hit a goal of 2 percent year-over-year inflation, which has yet to be obtained.
However, the National Federation of Independent Business (NFIB) says that small businesses are still struggling to hire, despite raising compensation. According to the association, “a seasonally adjusted 37 percent of all small business owners reported job openings they could not fill in their current period, down five points from May.”
Unsurprisingly, transportation represented a sector where unfilled job openings were among the highest.
“This summer, small business owners continue to try to hire and find qualified employees for their open positions,” said NFIB Chief Economist Bill Dunkelberg. “The number of small businesses with one or more job openings they can’t fill remains at exceptionally high levels. However, owners are raising compensation at historically high levels to attract and retain employees.”
The full report can be viewed here.
Visit nfib.com for more information.
[07.09.24]