Ford U.S. Sales Rose 10.7% in May, Trucks up 31.6%, EV Down 13%

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”

VW Closing the Gap on Tesla in The Great EV Race

Volkswagen has been quietly moving along closing the gap with Tesla as the leading maker of electric cars. VW is in a solid place behind Tesla on EVs and making progress on battery production, charging infrastructure and software, Chief Executive Officer Herbert Diess said Wednesday at a tech conference in Berlin. In Europe we have already seen Tesla go from number one at 33% EV market share in 1919 to just 10% market share and 5th place. However, VW had a 47% EV … Continue reading “VW Closing the Gap on Tesla in The Great EV Race”