General Motors Takes Back U.S. Sales Crown From Toyota as Car Market Stumbles

American auto maker, General Motors Co. said Wednesday U.S. sales rose 2.5% to 2.74 million for 2022, retaking its U.S. sales crown from Toyota Motor, outselling its Japanese rival by about 165,630 vehicles last year. Toyota had overtaken GM in 2021 as the U.S.’s top-selling auto maker, largely because of semiconductor supply constraints. Toyota said its U.S. sales were down 9.6% in 2022. Ford Motor Co. plans to report 2022 sales results Thursday. Hyundai Motor reported American sales fell 2% … Continue reading “General Motors Takes Back U.S. Sales Crown From Toyota as Car Market Stumbles”

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”

Auto Makers Crushed By Supply Delays Hitting Production and Orders

Auto makers and parts makers experienced a steepening production decline in September with the sharpest drop in output since May of last year IHS Markit’s PMI surveys showed. Supply delays, which rose to unprecedented levels in September.

Ford Motor Plan to Build $11.4 Billion EV Facilities in Tennessee and Kentucky

Ford Motor announced plans for a massive $11.4 bln investment in electric vehicle production. The deal is part of Ford’s over $30 billion investment plan in EVs through 2025, the campuses will help $F achieve its goal of EV production reaching 40-50% of the total by 2030