Exploding consumer demand for Ford (F) hybrids last month is further evidence the automaker should pivot its production focus and scale back on electric vehicles. Hybrids “make a ton of money,” Jim Cramer said Monday after Ford reported a 75% year-over-year surge in hybrid sales in November to roughly 12,100 vehicles. EV sales were also … Read more
Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Bill Pugliano | Getty Images News | Getty Images DETROIT … Read more
My top 10 things to watch Monday, Dec. 4 1. U.S. stocks are lower in premarket trading, with S & P 500 futures down 0.54%. The move comes after five-straight weeks of gains for equities — and here’s how I make sense of the tremendous rally we’ve seen. Meanwhile, bond yields pull back, with that … Read more
It’s going to take a lot more than price cuts to sway some consumers to pick an electric vehicle over a hybrid alternative. “[EVs are] a huge shift from the internal combustion engine world, and it’s this whole lifestyle change,” said Stephanie Valdez Streaty, director of mobility research and development at Cox Automotive. “The reality … Read more
United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty Images General Motors expects new labor contracts with the United Auto Workers and Canadian union Unifor to increase its costs by $9.3 billion and add approximately $575 in costs per vehicle during … Read more
United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty Images The United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in … Read more
NEW YORK – Ford Motor on Thursday reinstated 2023 guidance after pulling its forecast last month due to the impacts of labor strikes and negotiations with the United Auto Workers union. The guidance calls for $10 billion to $10.5 billion in adjusted earnings before interest and taxes, or EBIT, and adjusted free cash flow of … Read more
Tesla CEO Elon Musk took the stage to reveal details about the company’s new and unconventional Cybertruck pickup on Thursday in Austin, Texas, one day after he appeared in a bizarre interview at the DealBook Summit in New York. At that earlier event, Musk boasted, “It will be the biggest product launch of anything by … Read more
