Ford Motor (F) May North America Total Vehicles Sales 170,933; Up 10.7%

EPA to scrap proposed EV volumes from biofuel blending rule

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Ford (F) names Whirlpool's (WHR) Liz Door as new supply chain chief

Ford Motor (NYSE: F) on Tuesday announced the appointment of Liz Door from Whirlpool Corp (NYSE: WHR) as its new chief supply chain officer, effective June 12. This decision comes as Ford anticipates a challenging 2023 due to chip shortages, supply... More

Ford (F) expands recall for 125K vehicles due to fire risk and engine failure

Ford (NYSE: F) revealed Tuesday that the Detroit automaker is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks. The recall specifically targets a range of Escape and Lincoln Corsair SUVs, as well as Maverick compact pickup trucks, manufactured between the years 2020 and 2023. According to a filing with the National Highway Traffic Safety... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

Citi Upgrades Ford (F) to Buy

Citi analyst Itay Michaeli upgraded Ford (NYSE: F) from Neutral to Buy with a price target of $16.00 (from $12.80).

The analyst comments "Upgrade to Buy from Neutral Following the results of our 2023 Vehicle Density survey, were upgrading Ford shares to Buy from Neutral and raising our price target to $16 from $12.8 on modestly higher target multiples (target 23E P/E of 8.0x vs. 6.8x prior, target Pro EV/EBITDA multiple of 6.5x vs. 4.5x prior, and Model-e at 4.5x... More

GM’s Mary Barra pushes back against autonomous vehicles doubters

General Motors (NYSE: GM) CEO Mary Barra spoke at a Sanford Bernstein conference Friday where she doubled down on her confidence that the company will experience significant growth opportunities in the autonomous vehicle industry over the next decade.

Barra restated her prediction that Cruise could generate $50 billion a year in annual revenue by... More