Ford Motor reported U.S. sales grew 10.7% Y/Y to 170,933 units in May, driven by strong demand for models Ford F-150 and E-Series. Truck sales were up 31.6% Y/Y at 98,168 units, whereas SUV sales dipped 9.7% Y/Y to 69,206 units. Electrified vehicles sales at the same time fell 13% Y/Y to 5,444 units. Earlier in the week Ford and Tesla announced a partnership allowing Ford EV customers to access Tesla’s fast-charger network, boosting the appeal of Ford’s electric vehicle … Continue reading “Ford U.S. Sales Rose 10.7% in May, Trucks up 31.6%, EV Down 13%”
Ford Earnings Overcome Cost Pressures, Winds Down Argo AI Autonomous Vehicle JV with Volkswagen
Ford Motor reported better-than-expected third quarter earnings Wednesday as price increases offset input cost pressures and currency headwinds $F had previously warned about. The auto major tightened it’s its guidance for full-year profits to around $11.5 billion, down from a prior estimate of between $11.5 billion to $12.5 billion. Ford said it would wind-down its autonomous vehicle joint venture Argo AI with Germany’s Volkswagen. Ford booked a $2.7 billion non-cash charged linked to its investment as it transitions to what … Continue reading “Ford Earnings Overcome Cost Pressures, Winds Down Argo AI Autonomous Vehicle JV with Volkswagen”
Ford Warns Extra $1 billion in Inflation and Supply Chain Costs Next Quarter
Ford Motor shares fell Monday after the close around 4.5% after the car giant warned investors, the company expect to incur an extra $1 billion in costs during the third quarter due to inflation and supply chain issues. Ford had reported better than expected second quarter earnings. $F now expects Q3 adjusted EBIT of $1.4-1.7 bln with 40,000-45,000 vehicles in inventory by end of Q3 lacking parts in short supply. The announcement comes after FedEx sold off heavily last week … Continue reading “Ford Warns Extra $1 billion in Inflation and Supply Chain Costs Next Quarter”
Ford Motor Crushes Earnings, Hikes Dividend Raising Guidance
Ford Motor reported better than expected second quarter earnings after the close Wednesday. $F stick soared after the automaker reaffirmed its 2022 outlook and hiked the Ford stock dividend. Strong demand for both the traditional combustion and new electric vehicles overcame supply and inflation headwinds. Ford made an operating profit of $3.7 billion from $40.2 billion in sales. Wall Street was looking for an operating profit of $2.6 billion from sales of $34.8 billion. Earnings Ford Second Quarter 2022 Earnings … Continue reading “Ford Motor Crushes Earnings, Hikes Dividend Raising Guidance”
Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed
Electric truck developer Rivian Automotive raised $11.9 billion to become the largest IPO of 2021. RIVN stock surged as high as $179 per share before crashing in 2022 to $20.88 on Monday following the expiration of the company’s IPO lockup period. Ford Motor sold off about 8% of its stockholdings pushing shares to an all-time low. Ford stock sold off also, down nearly 6% on the day. At one point Ford and Amazon had booked massive unrealized profits on their … Continue reading “Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed”
U.S. New Auto Sales Fell For First Time Since April in Uncertain Times
U.S. new vehicle sales fell the first time since April in October 0.8% to 16.21M SAAR missing consensus 16.50Me. Sales fell most in the light truck segment, sales of passenger vehicles held up. Car earnings give us insight into consumer trends.
Ford Chinese JV Antitrust Violations Fine in China Trade War Tit For Tat
Ford’s Chinese joint venture with Changan Automobile; Changan Ford Automobile Co. was reportedly fined 162.8 million yuan ($23.6 million) by the State Administration for Market Regulation for restricting resale prices.
Auto and Truck Sales Impact on The American Economy
Auto and auto parts companies impact U.S. economic growth which is a debt led consumer economy. With spiralling auto debt it affects the whole finance pyramid. The U.S. auto industry helps drive industrial production, service and finance industries and insight into consumer trends.
U.S. Auto and Truck Sales Continue to Fall in February
Auto sales continued to fall in February as U.S. car makers sales continued to fall with the impact of servere weather, the trade war and threat of tariffs. Most SUV sales fell as auto loan rates pressure and gasoline prices stopped falling. Car earnings give us insight into consumer trends.
Fiat Chrysler Earnings Beat But Tariffs, Emissions and Asia Weigh
Fiat Chrysler reported better-than-expected third-quarter earnings Tuesday and promised to pay 2 billion euros ($2.3 billion) in special dividends for the sale of its parts unit. However $FCA was hurt by a lower net cash forecast and losses in both Asia and Europe.