40 years ago: Mercedes-Benz launched the driver’s airbag and seat belt tensioner in series production

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  • In December 1980, the first S-Class vehicles (126 model series) fitted with innovative restraint systems were delivered to customers

  • Airbags are an elementary feature of the integral safety concept of Mercedes-Benz

  • Airbags and other safety systems have saved the lives of many people

Stuttgart, Germany. The innovation made its preview in December 1980: the driver’s airbag and seat belt tensioner (originally termed the belt tightener) was in those days the latest, cutting-edge innovations in safety from Mercedes-Benz.

Vor 40 Jahren: Mercedes-Benz bringt Fahrerairbag und Gurtstraffer in die Serie40 years ago: Mercedes-Benz launched the driver’s airbag and seat belt tensioner in series production
Mercedes-Benz launched the driver’s airbag in combination with the seat belt tensioner for the front passenger in series-production cars. The first vehicles with this optional extra were delivered to customers back in December 1980. In February 1981, the brand showcased the systems at the Amsterdam International Motor Show. The front passenger airbag has been available since 1988. (Photo signatu re in the Mercedes-Benz archive: 83F131)

40 years ago, back in 1980, a limited number of S-Class Saloons (126 model series) were the first cars to be delivered with this new technology and were another milestone in passive vehicle safety in a long line of outstanding innovations from the brand. The airbag was a joint development between the then Daimler-Benz AG and Bosch.

More than 100 S-Class vehicles fitted with the new safety systems rolled off the assembly line in January and February 1981. This ushered in the triumph of a restraint system which was quickly adopted by many automotive manufacturers across the world.

The restraint system celebrated its world premiere at the Amsterdam International Motor Show from 5 to 15 February 1981. Just one month later, Mercedes-Benz presented the driver’s airbag and seat belt tensioner to the public at the Geneva Motor Show. The combination of both systems was initially only available for the S-Class and SEC Coupés as an optional extra costing DM 1,525.50.

Vor 40 Jahren: Mercedes-Benz bringt Fahrerairbag und Gurtstraffer in die Serie40 years ago: Mercedes-Benz launched the driver’s airbag and seat belt tensioner in series production
Schutz auch für den Beifahrer: 1987 präsentiert Mercedes-Benz den Beifahrerairbag als Sonderausstattu ng der S-Klasse der Baureihe 126. Verfügbar ist das Sicherheitssystem ab Februar 1988. (Fotosignatur der Mercedes-Benz Archive: 87F319)
Added protection for the front passenger: In 1987, Mercedes-Benz presented the front passenger airbag as an optional extra for the 126 model series S-Class. The safety system has been available since February 1988. (Photo signature in the Mercedes-Benz archive: 87F319)

Effective firing:

The airbag and seat belt tensioner was soon available in 1982 as optional extras for all Mercedes-Benz passenger cars. By 1992, the driver’s airbag as standard equipment in all of the brand’s models, followed by a front passenger airbag as a standard safety feature in 1994.

Numerous other airbags followed suit in subsequent years and these protective inflating cushions, fitted at various positions in the vehicle, have long since been an inherent part of the integral safety concept of Mercedes-Benz.

Minimising the impact:

The protective airbag inflates within a few milliseconds in front of the occupants. Sensors detect a particularly strong deceleration, e.g. sudden braking in a severe head-on collision, and trigger the firing of a propellant charge.

Vor 40 Jahren: Mercedes-Benz bringt Fahrerairbag und Gurtstraffer in die Serie40 years ago: Mercedes-Benz launched the driver’s airbag and seat belt tensioner in series production
Mercedes-Benz S-Klasse Limousine der Baureihe 126 (1979 bis 1992). Studioaufnahme (Ansicht von rechts vorne) eines Mercedes-Benz 500 SEL, Baujahr 1982. (Fotosignatur der Mercedes-Benz Archive: 17C752_041)
126 model series Mercedes-Benz S-Class Saloon (1979 to 1992). Studio photo (front view, right) of a Mercedes-Benz 500 SEL produced in 1982. (Photo signature in the Mercedes-Benz archive: 17C752_041)

The resulting gas mixture, which at the time of the airbag’s invention mainly consisted of nitrogen, inflates a cushion-shaped fabric cover – the airbag. It offers the best possible protection in combination with the seat belt, both deployed to gently cushion the upper body when it is thrown forward by the impact.

Parallel development:

Four decades ago, Mercedes-Benz also had another innovation up its sleeve for the seat belt. At the end of the 1980s, the brand launched the driver’s airbag together with the restraint system for the front passenger, at the time known as the “belt tightener”.

But by 1984, the seat belt tensioner, as this safety feature is now more commonly known, had already become standard equipment for the front seats of all Mercedes-Benz passenger cars. The seat belt tensioner reacts to the same sensor signal as the driver’s airbag, which is also triggered by controlled pyrotechnics: a propellant charge is fired to tighten the seat’s three-point seat belt within milliseconds.

This eliminates the typical slack between the occupant’s upper body and the seat belt and both drivers and front passenger are held firmly in the seat by the seat belt.

Chain of innovations:

The development was to continue over the following years: From 1995, seat belt tensioners were combined with belt force limiters. In 2002, engineers added an electronic seat belt tensioner to the pyrotechnical belt tensioner with the introduction of the preventive occupant protection system PRE-SAFE®.

In contrast to the pyrotechnical seat belt tensioner, the electronic system is reversible: the seat belt is loosened again if no collision occurs.

The invention:

The basic idea for the airbag was attributed, amongst others, to the hobby inventor, Walter Linderer. In the 1950s, he had designed what he described as an “inflatable container in a folded state, which automatically inflates in the event of danger”. On 6 October 1951, the Munich-born inventor filed for a patent for his “device to protect persons in vehicles against injury in the event of collisions” from the German Patent Office.

Although in his application Linderer precisely described the principle of an airbag, the technical requirements for the sensors as well as those for rapid gas generation simply did not exist in those days. Conventional compressed air was not suitable for generating pressure because it took far too long to inflate the airbag.

The elastic and extremely tear-resistant material required to make the airbag was also not available at the time. This remained the case for some years. Mercedes-Benz returned to the idea of the airbag in 1966 and started the initial trials for effective gas generation in 1967. The patent for an “impact protection device for vehicle occupants” (Patent No: DE 21 52 902 C2) was filed by the then Daimler-Benz AG in October 1971.

Continual advancements:

After approximately 250 crash tests, more than 2,500 sledge tests and thousands of trials on individual components, the Mercedes-Benz safety engineers managed to bring the technology to series production maturity over the next fifteen years. “SRS airbag” was the abbreviation initially to be seen on the steering wheels of Mercedes-Benz models equipped with this technology.

SRS stands for “supplemental restraint system” because it supplements the seat belt, which is the primary restraint system. The impact absorbers in these steering wheels were voluminous in size because they had to accommodate a large fabric cover: when inflated, the first driver’s airbags had a volume of between 60 to 70 litres.

The same is true for the development of the front passenger airbag. When it was presented at the International Motor Show in Frankfurt/Main in 1987, it occupied the entire glove box.

Statistics:

It is very difficult to calculate the positive effect individual systems and safety measures have had on accident statistics. Nonetheless, the figures released by the German Federal Statistical Office speak for themselves: In 1980, 15,050 people were killed on German roads (in both East and West Germany), 6,915 of them were occupants of passenger cars. In 2000, the same figures fell to 7,503 and 4,396 fatalities respectively.

And almost twenty years later: Germany recorded 3,046 road traffic victims in 2019, 1,346 of whom died in a passenger car. Owing to the fact that the number of vehicles on roads is continually rising, these figures are particularly impressive when compared to the number of traffic deaths per 10,000 vehicles. This figure was 4.5 in 1980 compared to 1.4 in 2000 and dropped to 0.5 in 2019.

Low in volume, high in safety:

As airbag components became increasingly smaller over the years without compromising safety, it was possible to incorporate the airbag in other places inside the vehicle, apart from in the steering wheel or glove box.

This was what developers were striving for because although the first airbags could minimise the impact of a head-on collision, there were many other potential accident scenarios.

In 1995, the sidebar was launched in the 210 model series E-Class, the window airbag was added to the extensive protection system in 1998 with the head/thorax sidebag to follow in 2001, the knee airbag in 2009 and the thorax/pelvis side bags, the cushion bag and the very compact inflatable belt airbag in 2013.

Launched in the S-Class of the 221 model series, the gas generators of “adaptive airbags” deployed in two stages depending on accident severity. The 223 model series S-Class, showcased in 2020, includes other new airbags such as the rear airbags, which are celebrating their world premiere.

40 years after the launch of the first-ever driver’s airbag, this new rear airbag uses a radically new inflation concept with a tubular structure, designed to deploy frontal airbags for both outer rear seats for the very first time. In the event of severe head-on collisions, they can considerably reduce the load on the head and neck of passengers restrained by seat belts in these seats.

Ecobank Group wins Awards from EMEA Finance, The Banker and Global Finance

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The award of ‘Outstanding Crisis Leadership – Finance & Business’ was awarded to Ecobank by Global Finance

December 2, 2020 – Leading pan-African banking group, Ecobank, has won awards from EMEA Finance, The Banker and Global Finance.

  • Ecobank’s awards in the EMEA Finance African Banking Awards 2020 includes the pan-African award for Financial Inclusion, and ‘Best Bank’ in Burkina Faso, Cabo Verde, Chad, Gabon, The Gambia, Guinea, Liberia and Mali.
  • The Banker’s Bank of the Year Awards 2020 saw Ecobank win Bank of the Year for Africa (Regional Award) and Bank of the Year for its affiliates in Gabon, The Gambia, Guinea, Guinea-Bissau and Togo.
  • The award of ‘Outstanding Crisis Leadership – Finance & Business’ was awarded to Ecobank by Global Finance.

Ecobank Group wins Awards from EMEA Finance, The Banker and Global Finance Brandspurng

Ade Ayeyemi, Ecobank Group CEO, said:

The Ecobank Group has long been recognised as a pioneer and we are proud to be playing a major role in digital banking, financial inclusion, driving economic and social development through our multi-channel approach. These latest awards are the result of hard work from Ecobankers across the group as well as the fruitful and sustainable relationship with our various stakeholders and partners.

They affirm the effectiveness of our strategy and our impact on businesses and livelihoods across sub-Saharan Africa.”

Our one bank model, which sees us develop our products, services and solutions centrally, and distribute them locally, is empowering people, businesses, corporates and the public sector across Africa with convenient, affordable and secure 24/7 banking solutions. We are now positioning our payments business as an enabler of trade and payments across Africa.”

Among the group’s banking products, services, solutions and community initiatives that swayed the respective judges’ decisions were the Ecobank Mobile App; Xpress Accounts- Know Your Customer (KYC)-lite account opening which drives financial inclusion; Ecobank Pay, the digital contactless QR payment solution; the rapid expansion of the Xpress Point agency network; digital-only Xpress Loans.

These are in addition to e-token generation cash out; newly launched internet banking platforms, Ecobank Online, Omni Lite and Omni+ for retail, business and corporate customers respectively; the scalability of Ecobank’s digital ecosystem and platforms; and our Group-wide initiatives providing support to people, communities, businesses, health authorities and governments with support and relief during the Covid-19 pandemic.

These new Awards add to the Ecobank Group’s recent Award wins which include:

  • African Banker (EMEA Finance)
  • Most Innovative Bank in Africa (Global Finance)
  • African Bank of the Year (African Banker)
  • Africa’s Best Bank for Corporate Responsibility (Euromoney)
  • Innovation in Financial Services Award (African Banker)

Ecobank Transnational Incorporated (‘ETI’) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs over 14,000 people and serves over 24 million customers in the consumer, commercial and corporate banking sectors across 33 African countries.

The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK and Dubai, the United Arab Emirates.

The Group offers a full suite of banking products, services and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan.

Mouka Attains Triple Laurels of Distinction at Brandcom 2020 Awards

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Mouka has attained triple laurels at the recent Brandcom Awards, which saw the company clinching the “Brand of the Year”, the “CEO of the Year” and “Marketing Manager of the Year” in the beddings category.

The award was organised by Brand Communicator, a leading brands and marketing magazine at D’ Podium International Event Center, Lagos, on Friday, November 27, 2020.

Mouka Attains Triple Laurels of Distinction at Brandcom 2020 Awards Brandspurng
A cross section of Mouka Team at the Brandcom 2020 Awards held at D’Podium International Event Center, Lagos, on Friday, November 27, 2020. | www.brandspurng.com

Eulogising Mouka for the feats, the organiser and Publisher, Brand Communicator, Joshua Ajayi, stated that the foremost company attained the awards for its outstanding performance and thought-leadership role in the bedding industry.

He pointed out that the CEO’s award was for the prominent role played by Raymond Murphy in aiding development in a company that promotes healthy sleep culture and produces quality brands that foster the wellbeing of Nigerians.

Mouka Attains Triple Laurels of Distinction at Brandcom 2020 Awards Brandspurng
From Left: Damilola Taiwo, Digital Marketing Manager, with Yemisi Obadina, Brand Manager, Memuna Idegwu, Trade Activation Manager, Head of Marketing, Tolu Olanipekun, and Femi Fapohunda, Chief Operating Officer, all of Mouka, at the Brandcom 2020 Awards held at D’Podium International Event Center, Lagos, on Friday, November 27, 2020. | www.brandspurng.com

On the Marketing Manager of the Year (Beddings) award, the organiser posits that it was in the demonstration of market leadership, novelty as well as the ground-breaking contributions made by Tolu Olanipekun in the marketing communication landscape while leading the marketing team at Mouka.

In his remark, Murphy said the recognitions were received as a result of the collective effort of Mouka personnel, who have demonstrated immense zeal and commitment in the production of quality brands that improve consumer’s wellbeing.

Recently, Mouka also won the Category of Large-Scale Organisation Award 2020 in the Africa Kaizen Awards. The Japan International Cooperation Agency organised the award in collaboration with the Africa Union Development Agency (AUDA). From clear objectives, effective processes, quality and productivity improvement, positive impact on workers motivation, impressive work environment and spill-over effects outside of the organisation, Mouka outshone its competitors.

Nokia confirms 5G as 90 percent more energy efficient

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2 December 2020 – A new study by Nokia and Telefónica has found that 5G networks are up to 90 percent more energy efficient per traffic unit than legacy 4G networks. The research, which was conducted over a three-month period, focused on the power consumption of the Radio Access Network (RAN) in Telefónica’s network.

The rollout of 5G networks is set to increase traffic dramatically making it critical that the energy consumed does not rise at the same rate. The findings highlight both companies’ commitment to climate change.

Extensive testing examined eleven different pre-defined traffic load scenarios that measured the energy consumed per Mbps based on the traffic load distribution. The results highlighted that 5G RAN technology is significantly more efficient than legacy technologies when it comes to energy consumption per data traffic capacity with several hardware and software features that help to save energy.

The study, which utilized Nokia’s AirScale portfolio, including AirScale Base Stations and AirScale Massive MIMO Active Antenna solutions, combined actual on-site base station energy consumption readings in different traffic load scenarios, ranging from 0 percent to 100 percent, as well as remote monitoring of actual power consumption through the network management systems.

5G is a natively greener technology with more data bits per kilowatt of energy than any previous wireless technology generation. However, 5G networks require further action to enhance energy efficiency and minimize CO2 emissions that will come with exponentially increased data traffic.

There are several energy-saving features at the radio base station and network levels, such as 5G power-saving features, small cell deployments and new 5G architecture and protocols, which can be combined to significantly improve the energy efficiency of wireless networks.

Both companies are aligned with the ambition of limiting global warming to 1.5 Celsius. In 2019, Nokia delivered zero-emission products to over 150 customers worldwide and is committed to decreasing emissions from its operations by 41 percent by 2030. 46 percent less energy was used on average in the customer base station sites Nokia modernized in 2019 compared to those where its customers did not modernize.

Nokia and Telefónica are also developing smart energy network infrastructure and power-saving features based on machine learning and artificial intelligence. They are also collaborating to build green 5G networks.

Juan Manuel Caro, Director of Operational Transformation at Global CTIO at Telefónicasaid:

“We are committed to supporting action on climate change and engender a sustainable culture throughout our entire company. We are proud to work collaboratively with Nokia on this project and others to address a range of initiatives including driving energy efficiencies in the 5G era.”

Tommi Uitto, president of Mobile Networks at Nokia, said: 

“Our greatest contribution to overcoming the world’s sustainability challenges is through the solutions and technology we develop and provide. We place huge importance on this. Nokia’s technology is designed to be energy efficient during use but also require less energy during manufacture. 

This important study highlights how mobile operators can offset energy gains during their rollouts helping them to be more environmentally responsible while allowing them to achieve significant cost savings.”

Daimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China

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Beijing/Stuttgart – Daimler Truck AG and Beiqi Foton Motor Co., Ltd. jointly announced that both partners will produce and distribute Mercedes-Benz tractors for an advanced market segment in China.

Based on Daimler Trucks’ global platform strategy, the companies’ joint venture Beijing Foton Daimler Automotive Co., Ltd. (BFDA) will localize new heavy-duty tractor models “Made in China for China”, fully adapted to Chinese customers’ requirements. The vehicles will get state-of-the-art Daimler Trucks technology.

Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für ChinaDaimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China
Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für China
Daimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China

Start of production of the heavy-duty tractor models is scheduled in two years from now in a new truck plant in Huairou (Beijing) owned by BFDA. The joint venture invests of more than 3.8 billion RMB (over 485 million euros) for the acquisition of the plant and the set-up of new infrastructure and production lines.

Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für ChinaDaimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China
Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für China
Daimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China

At the same time, Daimler Truck will continue to import and sell other models of its Mercedes-Benz portfolio both through the existing dealer network and direct wholesale to answer the customers need for top-of-the-line trucks for special applications – for example, concrete pumps for China’s rapidly growing construction sector.

Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für ChinaDaimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China
Das neue Lkw-Werk von Beijing Foton Daimler Automotive (BFDA) in Huairou, Beijing. In diesem Werk wird das JV von Daimler Trucks und Foton künftig Mercedes-Benz Lkw in China für China fertigen.
The new truck plant of Beijing Foton Daimler Automotive (BFDA) in Huairou, Beijing area. The JV of Daimler Trucks and Foton will locally produce Mercedes-Benz trucks in China for China.

The new heavy-duty Mercedes-Benz tractors for China will fully capitalize on Daimler Trucks’ platform strategy and will be powered by a state-of-the-art engine from Daimler Trucks global powertrain unit. The new Mercedes-Benz tractors will be fully adapted to the specific requirements of varied Chinese customers.

Daimler Trucks and Foton plan full-fledged local production to start operation in two years from now, supported by a local supplier base, which will be further strengthened over the coming years. Details on the product specifics and its market introduction will be announced at a later time.

“At Daimler Trucks, it’s our strategic goal to lead globally and to create value for our customers around the world. China, the world’s largest truck market, is of utmost importance to us and has become one of our important markets for future growth. In order to make full use of this potential, we made the decision to locally produce Mercedes-Benz heavy-duty tractors in China for China,” said Martin Daum, CEO of Daimler Truck AG.

Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für ChinaDaimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China
Martin Daum, Vorsitzender des Vorstands der Daimler Truck AG und Vorstandsmitglied der Daimler AG.
Martin Daum, Chairman of the Board of Management of Daimler Truck AG and member of the Board of Management of Daimler AG.

“We’re convinced what we’re announcing today is the right strategic move for the right market at exactly the right point in time.”

Hubertus Troska, Member of the Board of Management of Daimler AG, responsible for Greater China:

“We aim to grow in China and with China. That applies to our passenger car as well as our commercial vehicle business. The Chinese truck market is undergoing a transformation, especially in the long haul transportation market. The growing e-commerce and logistics industry offers great opportunities.

We believe in the further growth potential of the truck market in China and we are determined to contribute to its long-term development. Today not only marks a big milestone in Daimler’s localization strategy but also an excellent example of Sino-German cooperation.”

Sven Ennerst, Member of the Board of Management Daimler Truck AG, responsible for Product Engineering, Procurement and region China:

“By locally producing Mercedes-Benz tractors for the growing advanced truck segment we will introduce our heavy-duty product platform to the Chinese market, adjusting it perfectly to the needs of our Chinese customers. The vehicles will be equipped with our leading Daimler Truck technology.

Daimler Truck AG und Foton starten gemeinsame Produktion von Mercedes-Benz Lkw in China für ChinaDaimler Truck AG and Foton start joint production of Mercedes-Benz Trucks in China for China
Sven Ennerst, Vorstandsmitglied Daimler Truck AG. Verantwortlich für Entwicklung und Einkauf und die Region China.
Sven Ennerst, Member of the Board of Management of Daimler Truck AG. Responsible for Product Engineering & Procurement and the Region China.

This shows our clear and long-term commitment to the Chinese truck market. Together with our Partner Foton, we will keep working determinedly and consistently to further expand our presence in China.”

Gong Yueqiong, CEO of Foton Motor stated:

“The inauguration of Beijing Foton Daimler Automotive Co., Ltd. in 2012 marks a historic step made by Foton and Daimler. The current localization project of a Mercedes-Benz heavy-duty truck is an evolution and upgrade of Foton Daimler cooperation and the right strategic move of further developing Chinese market.

Tailor-made for China, the localized heavy-duty truck originates from Mercedes-Benz’ latest global platform and boasts the latest and most advanced Daimler Trucks technology for heavy-duty trucks. The project will help BFDA form a competitive product mix and provide more diversified product solutions and choices to Chinese customers.”

The Chinese market for heavy-duty trucks had a volume of 1.1 million units in 2019. For 2020 it is to be expected that more than half of the trucks sold globally will be registered in China. China forms an important part of Daimler Trucks’ global platform strategy, and through the domestic production of Mercedes-Benz and Auman trucks in China, the company will further leverage the potential of the world’s largest truck market.

Looking ahead, China sales are expected to increasingly contribute to Daimler Trucks’ global development.

Mercedes-Benz and Auman brands for the Chinese market

Today, Daimler Trucks is pursuing a two-fold strategy in the Chinese market. On the one hand, Mercedes-Benz Trucks are exported to China and Daimler Trucks is a market leader in the heavy-duty segment for imported trucks – the vast majority here are trucks adapted to special applications, for example, concrete pumps.

On the other hand, BFDA addresses the local market of value and price-driven trucks by producing trucks in China with the Auman brand. Adding to the local strategy substantially, BFDA will produce Mercedes-Benz heavy-duty tractors, targeting another customer segment in the Chinese market, which is currently evolving at a very high pace: the local market for advanced heavy-duty trucks.

The locally produced vehicles will be equipped with the leading Daimler Truck technology, addressing the customer needs in the segment of advanced trucks – for example, fuel efficiency, reliability, state-of-the-art safety systems as well as the total cost of ownership (TCO) and lifetime value.

BFDA is a 50:50 joint venture between Daimler Truck AG and Chinese manufacturer Foton Motor. In Q1-Q3 2020, BFDA sold 99,550 units – an increase of almost 60 percent compared to the previous year.

Ford Explorer Sales Gain 21.9 Percent in November 2020

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November’s total industry declined 15 percent on total sales of 1.24 million vehicles. At retail, Ford estimates the industry was off 12 percent, while the fleet was down 25 percent. Industry declines are largely attributed to one less weekend in November this year than last year and a renewed focus on stay-at-home policies due to rising coronavirus cases.

F-Series sales were impacted by lower inventories attributed to the lingering effects of the Q2 coronavirus production stoppage combined with the transition to the all-new F-150.
While Super Duty sales were up 7.5 percent, F-150 sales were off 45.9 percent. All-new 2021 F-150’s began shipping to dealers at the end of November.

Fusion and Fiesta continued to wind down as Ford transitions from cars to SUVs. Ford sales adjusted for F-150’s transition and the discontinuance of Fusion and Fiesta were down a more modest 7.4 percent – less than the overall industry decline of 15 percent.

Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service commented:

“Super Duty sales produced a strong gain in November with sales up 7.5 percent. F-150 inventory continued to tighten as we moved through our Q4 changeover to the all-new F-150. This was a result of coronavirus-related production stoppages in Q2 and a strong sell-down of the current model F-150. Dealers are really looking forward to the 2021 F-150, which is now in transit, as well as Bronco Sport and the all-new Mustang Mach-E.”

Commercial and government fleet sales recovered and were both up 7 and 14 percent, respectively, compared to a year ago. Daily rental fleets sales continue to weigh on the overall fleet total, with sales down 87 percent.

Ford Issues Safety Recall for Select 2013-17 Ford Explorer Vehicles with defect tied to 13 accidents
2013 Ford Explorer Sport | www.brandspurng,com

Explorer sales totalled 18,848, up 21.9 percent over a year ago. Ford also reported its first sales of the 2021 Bronco Sport as ford transitions from cars to SUV s.

Led by Transit, Ford van sales gained 5.2 percent, on sales of 16,322 vehicles. Transit van sales generated a 13.9 percent gain on sales of 9,917 vehicles.

Mustang retail sales gained 7.4 percent expanding its retail share of segment 1.4 percentage points – totalling just over 32 percent share.

With the overall large premium SUV segment down in November, Aviator gained approximately 3 percentage points of share in November over a year ago at 12 percent share.

WINNING PORTFOLIO

As America’s best-selling van, Ford Transit November U.S. sales totaled 9,917 vans. This was a 13.9 percent increase over a year ago, with a 70 percent increase in sales to commercial customers for the month.

In November, Ford’s Transit Van outsold its second-place competitor by 41 percent, with 31 percent total share of the full-size van segment

America’s best-selling pickup has sold 713,325 pickups through November of this year. This is just over 195,000 more pickups than its second-place competitor, placing F-Series in position to record its 44th straight year as America’s best-selling pickup. November Super Duty sales increased by 7.5 percent.

Ford Explorer November sales gained 21.9 percent on sales of 18,848 SUVs. Ford continues to see a strong mix of high-end performance ST which represented 17 percent of sales in November. Explorer continues to be on pace to take back America’s best-selling mid-size SUV for the year. Ford also reported its first sales of Bronco Sport at the end of November.

Combined November retail sales of Shelby GT350 and GT500 increased 33 percent. Mustang sales overall totaled 4,119 cars for the month, and while this is down over a year ago, retail sales were up 7.4 percent, Mustang’s retail share continues to buck the trend, with a retail share of segment up almost 2 percentage points in November to just over 32 percent of the segment.

While the large luxury SUV segment was down in November, Lincoln’s Aviator retail share of segment expanded 3 percentage points over last year to 12 percent of the segment. Year-to-date, Lincoln’s overall retail share is up 0.7 percentage points at 5.4 percent of the premium vehicle segment.

Santa came early but with T&C

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It’s the season of circulars! Shortly after the circular released by the Apex Bank on Monday, November 30, 2020, allowing recipients of diaspora remittances into the country the option to withdraw the money in USD, the Central Bank released another circular dated December 1, 2020, announcing the introduction of a new “Special Bill” and no, it is not an OMO bill.

The introduction of the new bill which is a part of the Apex Bank’s efforts at deepening the financial markets and availing the monetary authority with an additional liquidity management tool.

The features of the CBN’s Special Bills are as follows:

  • The tenor of 90 days.
  • Zero-coupon, applicable yield at issuance will be determined by the CBN.
  • The instrument will be tradable amongst banks, retail and institutional investors.
  • The instrument shall not be accepted for repurchase agreement transactions with the CBN and shall not be discountable at the CBN window
  • The instrument will qualify as liquid assets in the computation of liquidity ratio for deposit money banks.

Implications

We expect to see yields retrace upwards as the introduction of this “Special bill” will provide more supply to the low tradeable investment universe. Banks are expected to be the major players in the Special Bill market as they will be looking to invest their liquid cash in the instrument which will enable them to avoid CRR debit as well as improve their liquidity ratio.

“What levels will the security be issued at?”

There are still a lot of speculations on this. However, we think that mirroring the stop rate at the last Central Bank OMO auction and comparing it with the last PMA result, stop rate at the “Special bill” should more attractive than the PMA stop rate.

Agusto & Co. assigns a ‘Bbb-’ rating to Jaiz Bank Plc, with a stable outlook.

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Agusto & Co. hereby assigns a ‘Bbb-’ rating to Jaiz Bank Plc, reflecting the Bank’s status as Nigeria’s largest non-interest bank with a growing footprint in its niche market.

The rating also considers Jaiz Bank’s good liquidity profile and adequate capitalisation. However, offsetting these positives are the Bank’s limited credit and market risk controls, high impaired financing ratio and high-cost profile.

Agusto & Co. assigns a ‘Bbb-’ rating to Jaiz Bank Plc, with a stable outlook.

The rating also takes into cognisance the impact of the COVID-19 pandemic on individuals and businesses as well as the limited availability of Shari’ah-compliant instruments which impedes effective liquidity management.

We have attached a stable outlook to the rating of Jaiz Plc. The outlook is hinged on our expectations that asset quality will deteriorate but will be slightly moderated by the CBN’s forbearance while capitalisation will improve in the short-term on the back of the scheduled capital raising exercise. We also expect the Bank to sustain its good liquidity profile and the growing footprint in its target market.

Wizkid Wins BET Soul Train Music Awards for Second Time

NIGERIA, 02 December 2020: The 2020 Soul Train Music Awards” celebrated the best in the soul, R&B and hip hop by highlighting both living legends and breakout stars with unrivalled musical moments and show-stopping performances.

The awards ceremony was hosted by the iconic best friend duo Tisha Campbell and Tichina Arnold, who also brought their chemistry to the stage as the show’s opening musical acts.

Wizkid Wins BET Soul Train Music Awards for Second Time

The “2020 SOUL TRAIN AWARDS” premiered exclusively on BET Africa (DStv Channel 129) on Monday, November 30th with the one-hour pre-show “Soul-Coming: Countdown to the Soul Train Awards”, which was followed by the main show “2020 Soul Train Awards “Presented By BET” and the post-show “DJ Cassidy’s Pass the Mic: BET Soul Train Edition. 

The awards will repeat this week, on Thursday 03 December at 11:00 WAT, Friday 04 December at 21:00 WAT and Sunday 06 December at 12:30 WAT.

Chris Brown led the pack as the evening’s most awarded artist, dominating in four categories including Best R&B/Soul Male Artist and the shared honours of Song of the Year, Best Dance Performance and Best Collaboration with Young Thug for their hit “Go Crazy.” H.E.R. followed closely with two awards: Best R&B/Soul Female Artist and The Ashford & Simpson Songwriter’s Award for “I Can’t Breathe.

Honouring artists across 12 categories, the 2020 “SOUL TRAIN AWARDS” also recognised Summer Walker (Album of the Year), Megan Thee Stallion (Rhythm & Beats Award), Brandy (Soul Train Certified), Beyoncé, Blue Ivy, Saint Jhn & Wizkid (Video of the Year), Snoh Aalegra (Best New Artist) and Kirk Franklin (Best Gospel/Inspirational Award) for their special contributions to the genre.

The hosts kicked things off with an electrifying song and dance tribute to the power of Black women. Brandy performed a medley of her recent hits “Say Something” and “Boderline.” 

Ella Mai sang her latest single “Not Another Love Song.” Lucky Daye shut the stage down with Babyface for a performance of their new collaboration “Shoulda.” Charlie Wilson performed a duet with Smokey Robinson before honouring the memory of gospel legend Rance Allen with a rousing tribute.

Additional performers included Jazmine SullivanSnoh Aalegra and CeeLo Green. After accepting the Lady of Soul Award, Monica brought down the house with a jam-packed performance of her chart-topping hits.

In addition to electrifying performances, this year’s highly anticipated Soul Cypher featured R&B stars PJ Morton, Chanté Moore, Shanice and StokelyElla Nicole and Moses Sumney took the BET Amplified Music Stage, a platform for emerging artists. Presenters included Andra Day, Tessa Thompson, Nnamdi Asomugha, Deon ColeNicco AnnanDallas Austin, Jermaine Dupri and Brandee Evans.

The full winners’ list for 2020 “SOUL TRAIN AWARDS” is below:

  • Best New Artist – Snoh Aalegra
  • Soul Train Certified Award –Brandy
  • Best R&B/Soul Male Artist – Chris Brown
  • Best R&B/Soul Female Artist – H.E.R.
  • Video of the Year – Beyoncé, Blue Ivy, Saint Jhn & Wizkid “Brown Skin Girl”
  • Best Gospel/Inspirational Award – Kirk Franklin
  • Album of the Year – Summer Walker “Over It”
  • Rhythm & Bars Award – Megan Thee Stallion “Savage”
  • Song of the Year – Chris Brown & Young Thug “Go Crazy”
  • The Ashford & Simpson Songwriter’s Award – “I Can’t Breathe,” Written by H.E.R.
  • Best Dance Performance – Chris Brown & Young Thug “Go Crazy”
  • Best Collaboration Performance – Chris Brown & Young Thug “Go Crazy”

Demand for Second Passport Surges by 50 percent amid Covid-19 restrictions

National lockdowns, closed borders and travel restrictions have helped drive up enquiries for second passports, citizenships and overseas residencies by more than 50% year-on-year, reveals one of the world’s largest independent financial advisory firms.

deVere Group, which has more than 100,000 clients globally, reports that this highly unusual year has seen demand for its residency and citizen service “skyrocket.”

Demand for Second Passport Surges by 50 per cent amid Covid-19 restrictions

The majority of enquiries are from high–net-worth individuals from the U.S., India, South Africa, Russia, the Middle East and East Asia who are seeking alternative options in Europe and the Commonwealth.

Nigel Green, the founder and CEO of deVere Group, says:

“Previously, a second passport, citizenship or residency were regarded by many as the ultimate luxury item; a status symbol like yachts, supercars and original artwork.

“While this still remains the case, there’s also been a shift due to the pandemic.  

“Now, second citizenship or overseas residency are increasingly becoming not just a ‘nice to have accessory’ but a ‘must-have.’

“Whether it be for personal reasons, such as to remain with loved ones overseas or be able to visit them, or for business reasons, a growing number of people are seeking ways to secure their freedom of movement as they have faced travel restrictions which are, typically, based on citizenship.”

He continues:

“The pandemic has served as a major catalyst for demand which skyrocketed this year. It has focused minds to secure that second passport or elite residency. 

“However, the appeal for is broader than just the global Covid-19 crisis. 

“Increasingly people prefer the concept of being a global citizen, rather than being solely tied to the country of their birth.

“They too value the many associated benefits including visa-free travel, world-class education, optimal healthcare, political and economic stability, reduced tax liabilities and wider business and career opportunities.”

Every host country has different criteria for granting citizenship, including time spent in the country, being able to prove the legal source of funds and no criminal records.

For example, Portugal’s residency program requires only two weeks every two years of residency to gain the benefits, including the right to live, work, study and open a business there, as well as travel across the 26 countries of Europe’s Schengen area.

“More and more nations are running citizenship-by-investment programs, in which applicants invest an amount of money in a sponsoring country typically in high-end, new-build real estate developments in exchange for permanent residency, citizenship, or both,” affirms James Minns, deVere’s Head of Residency & Citizenship.

“These programmes, which high-net-worth individuals regard as invaluable insurance, are typically based on property investments that start from 250,000 EUR.”

Nigel Green concludes:

“These highly unusual times have fuelled the surge in demand for second passports.

“The pandemic has brought into sharp focus what really matters to people: family, freedom and security.”