VW

Colonialism and Comcars

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Senator Mattias Cormann has admitted he was behind the decision to change the colour of our government Comcars – which ferry politicians around – from white to dark grey in order to remove any remnants of our colonial past, which in his words were “a better reflection of a modern, forward-looking Australia.” Forget the fact that most government cars were painted black, including Sir Robert Menzies’ Bentley (above). Might have been better to channel the founder of the Liberal Party as inspiration instead some woke nonsense. Or just let the drivers, who need to clean and maintain the vehicles, choose. 

Seriously though, what % of Australians have ever thought that our white Comcars harked to a colonial past? Best put it to a plebiscite and waste more time. 

Dark Grey? Isn’t that a gloomy hue? Should Aussies prepare for dark days ahead? Truth be told the colour is probably quite representative of where our economy is heading, even without coronavirus.

Interestingly, according to car insurer youi,

Our accident frequency research reveals that dark coloured cars are more likely to be in an accident than lighter coloured cars, likely because they are less visible to other drivers on the road. Grey coloured cars topped the list, followed by black and charcoal.

Who says that politicians don’t make sacrifices for us?

If we study where the proportion of cars coloured in colonial white is highest, perhaps parliament should be spending up big on a reeducation program in Tasmania for their unconscious colonialism. youi claimed,

Tasmania has the highest percentage of white cars at 33.80% versus the national average of 30.45% (silver 19.4%, blue 11.29%)

White cars seem to be connected to toxic masculinity too. Best run a campaign on unconscious sexism if youi is to be believed.

Compared to females, white is more popular for males relative to other colours (34.34% for males, 26.46% for females)

Take it a step further and question how much more Cormann could have done to reduce the racist footprints of colonialism.

Why are we buying cars from a maker that powered the Nazi Luftwaffe, SS and Wehrmacht, based in a nation that at the time was hell-bent on world domination and genocide? If we went for Lexus or Toyota we’d be buying cars built by a country that was also determined to colonize The Pacific. Jaguars or Range Rovers would be off the list, even though the Indians now own the brands. Rolls-Royce & Bentley are German-owned. Italians were colonialists. Maserati, Fiat, Lancia and Alfa Romeo banned. The French? Colonialists. Renault and Peugeot-Citroen are out. The Spanish? Colonialists. No SEATs, although that is owned by the Germans. America? Someone is bound to raise an issue with their CIA operative endorsed post-war military hegemony. So no Caddies, Fords or GM cars, especially after the axing of the Holden brand. China? Buying Haval or Great Wall cars would at the very least cut down on the overall cost of Comcars, especially with the generous 10-yr unlimited kilometre extended warranty.  That is how we cut the budget deficit. 

Maybe we should just buy Volvos. Maybe that way we could appeal to be supporting the home team of climate activist, Greta Thunberg to shore up the youth vote while acknowledging that the Viking hordes of 1000 years ago was far back enough in history to upset anyone today. If we’re lucky, the Swedish Riksbank may consider buying our sovereign debt again

Seriously, haven’t our pollies got anything better to do than conjure up such illogical nonsense like this? Given we’re at this level of discourse, perhaps walking, cycling or public transport would be a better bet for our lawmakers. At the very least it would put them in touch with how commoners live.

German car makers in trouble with the EC environmental regulator

While governments around the world champion the idea that auto makers are “all aboard” when it comes to climate change mitigating tech, it appears the VW Group (incl Porsche & Audi), BMW and Daimler have been raked over the coals by European Commission (EC) officials for deliberately withholding it.

Why doesn’t the EC understand that advanced pollution cutting technology costs more the tougher the emissions regulations get? That cost gets passed onto consumers.

If auto makers met all the appropriate legislative hurdles at the time, why should they be punished? The law didn’t mandate it. Furthermore consumers put safety and utility at a premium to exhaust fumes.

The EC might complain these auto makers colluded but even if they hadn’t met in secret the outcome would have been exactly the same. Focus on shareholders wouldn’t change. Why can’t we accept it is a 100% reflection of the car makers’ true feelings about the environment. They don’t care! VW even cheated the tests.

What more evidence do we need? Automakers push narratives that they’re big on saving the planet so as to not catch the wrath of the activists. Actions tell the real story.

Perhaps we should question the regulator for not introducing tougher standards earlier rather than beat manufacturers over the head for their inability to provide adequate oversight?

Tale of the gold coin chocolate & a warning for Tesla Disciples

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It hadn’t really hit until going back to read the conditions of Musk’s new executive compensation package but the first thing that struck me was the risk of the old adage of paying too much attention to the share price. The collection of all 12 tranches for CEO Elon Musk only kicks in when his company hits $650bn in market cap. The first thing to pop in the head was that of Japanese mobile phone retailer Hikari Tsushin back during the tech bubble. The rather eccentric CEO Yasumitsu Shigeta had gold coin chocolates made embossed with “Hikari Tsushin: Target Market Cap Y100 trillion.” One could only conclude he believed in his own BS.

It was at that moment where the only thing that crossed the mind was ‘this spells trouble’. There were magazines like Forbes touting how Shigeta was one of the richest men in the world and analysts fell hook, line and sinker for this unrealistic dream forecasting he’d be #1 before long. The only rational conclusion for the Contrarian Marketplace was to tell them that “bet he won’t be in the top 100 next year.”  Low and behold the tech bubble collapsed and Hikari Tsushin – that believed it was worth 2x the market cap of then highest valued corporation in the world, General Electric – fell over 95%.

While Musk may not yet have printed target market cap $650bn gold coin chocolates, what the incentives are saying to the market is that his company needs to be worth more than Daimler, BMW, VW, GM, Ford, Toyota, Nissan, Honda, Renault, Fiat-Chrysler Ferrari and Porsche combined. Just read that last sentence again. Do investors honestly believe that Tesla which consistently misses and is going up against companies that have been in the game for decades, seen brutal cycles, invest multiples more in technology and forgotten more than they remembered will somehow all become slaves to a company which has no technological advantages whatsoever?

Once again, this compensation package screams of gold coin chocolates in mentality. Instead of running the business and letting the share price do the talking, the mindset is focused on launching convertibles into space and distracting investors from increasingly dreadful financial results which eventually must come full circle if the results continue to miss. Broader Tesla report here.

Will Greenpeace Be arrested and charged with trespassing?

Greenpeace has disrupted a business which is already paying billions in fines. If only Greenpeace had the first clue about diesel emissions and the reality of the CO2 footprint of EVs at the production stage and charging.

VW e-volution is a PR exercise which looks like a sacrifice at the altar of the regulator

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Of course VW will tell us sweet stories of how their corporate governance has reformed and what better way to gloss over an emissions scandal (the true test of how they really feel about saving the environment) by telling the world you’ll intro 30 new electric vehicle models by 2025 which could be up to 25% of production volumes. It is smoke and mirrors but this marketing PR blitz will no doubt work with the eco-mentalists. VW knows the soft spot.

Here is the rub. Apart from the fact that EVs are not ‘eco friendly’ to manufacture and depending on the power generation mix (i.e. % of coal fired power vs nuke vs renewable) then your EV may actually be net net worse for the environment than a petrol car. HK is a prime example.

The issue is more than that. The slowdown in the global economy is going to drastically change these plans from VW. Making EVs is not affordable technology. Tesla makes massive losses. Governments have often stepped into bail out automakers because they employ so many people but car companies have to make money to employ people so in order to do that the petrol/diesel powered cars will still be the way car companies can achieve it.