Ford Motor on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading. Automotive revenue increased 2% year over year, to $38.89 billion, missing analysts’ forecasts of $40.1 billion, according to … Read more
Volkswagens are seen in the employee parking lot at the Volkswagen automobile assembly plant on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT – The United Auto Workers notched a big win this weekend. Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking … Read more
As the electric vehicle industry faces a string of high-profile failures, several startups that have surfaced in recent years have underestimated their capital needs by billions of dollars, industry insiders said. Many of the companies that have tried to bring products to market or go public, especially through Special Purpose Acquisition Companies, or SPACs, are … Read more
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023. Rebecca Cook | Reuters DETROIT — Republican governors of six states on Tuesday condemned the United Auto Workers’ push to organize automotive factories in the South, warning the union’s efforts could lead to layoffs … Read more
A Volkswagen automobile assembly plant is seen on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of the union’s sway. A victory would give the UAW its first … Read more
After years of being overshadowed by flashy electric vehicles from Tesla and others, the hybrid — a gas sipper that has both an engine and an electric motor — is back in the spotlight. EV sales have slowed in the U.S., according to car website and data tracker Edmunds, with the time it takes for … Read more
The F-150 Lightning on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DEARBORN, Mich. — Ford Motor is lowering the starting prices of some all-electric F-150 Lightning pickup trucks as it prepares to resume shipping the vehicles after quality issues. The included models are expected to ship … Read more
Ford needs to close the gap with General Motors . We think Ford can do it by following GM’s lead on buybacks — plus, refining its mix of electric vehicles and hybrids as well as reining in warranty expenses. Shares of Club name Ford have gained about 7% year to date, lagging by far the … Read more
Customers admire a Tesla Model 3 electric vehicle at a Tesla store in Honolulu, Hawaii. Alex Tai | SOPA Images | Lightrocket | Getty Images U.S. consumers have been making the move to all-electric vehicles more slowly than many expected — but a growing leader in EV adoption is Hawaii. The tropical island state this … Read more
BYD teased its upcoming electric pickup truck which the Chinese auto giant said it would launch in 2024. BYD BYD plans to launch its first electric pickup truck this year, as the Chinese giant steps up competition with global auto firms, from Ford to Tesla. The midsize-to-large pickup truck has been developed for the global … Read more
