Canada's Unifor targets Ford (F) in Detroit 3 labor talks

Ford (F) to spend $270M in rear camera recall

On Friday, Ford (NYSE: F) announced its plan to recall 169,000 vehicles in the United States for the purpose of replacing rearview cameras and performing software updates. To cover the costs associated with this recall, the company is earmarking a charge of $270 million.

According to the National Highway Traffic Safety Administration, the... More

UBS cuts estimates on Renault and Volkswagen as Chinese competition rises

UBS downgraded French automaker, Renault to a Sell rating (From Neutral) and cut their 12-month price target on the automotive stock to 31.00 (From 42.00) as competition from Chinese rivals intensifies.

UBS anticipates continued robust financial performance in the upcoming quarters with the potential for additional positive surprises. However, it is noteworthy that most indicators have ceased to show improvement. An analysis by UBS, including the examination of the BYD teardown Q-Series, leads analyst David Lesne to believe that legacy automakers... More

UAW files unfair labor practice charges against GM and Stellantis (STLA) amid contract dispute

On Thursday night, UAW President Shawn Fain announced that the United Auto Workers have submitted allegations of unfair labor practices to the National Labor Relations Board against General Motors (NYSE: GM) and Stellantis (NYSE: STLA). These allegations pertain to the automakers' purported lack of genuine and timely engagement in bargaining with the union.

The filings were prompted by the companies' failure to promptly address the union's requests, as explained by Fain. Notably, there was no complaint filed against Ford Motor (NYSE:... More

US will offer $12B to automakers and suppliers for the advancement of new energy vehicles

U.S. Secretary of Energy, Jennifer Granholm held a briefing with journalists Thursday where the former governor announced the United States will be making $12 Billion in funds available through grants and loans to automakers and their suppliers for the purpose of retrofitting facilities to produce electric and other advanced vehicles.

The funding will include $10 billion from a federal loan program for clean vehicles and aims to support... More

Ford (F) recalls 42K trucks over defect in axle shaft

Ford (NYSE: F) has issued a recall for nearly 42,000 2023 Super Duty F250 and F350 trucks after a mechanical issue was found affecting the vehicles rear axle shaft.

According to documents from the National Highway Traffic Safety Administration (NHTSA) the left rear axle shaft on affected models "may have been improperly heat-treated"... More

European car sales surge in July; EVs grow 61%

The European Automobile Manufacturers Association (ACEA) published its monthly data on Wednesday, revealing a 15.2% surge in new car registrations in Europe for the month of July. This marks the 12th consecutive month of expansion as the automotive sector rebounds from supply chain challenges brought on by the pandemic.

The sales of electric vehicles surged... More

Ford (F) Pro expands commercial charging solutions

Ford Pro, the commercial arm of Detroits Ford Motor Co. (NYSE: F), revealed new charging equipment Tuesday, that will be added to its suite of end-to-end solutions. The new hardware is designed to help make it easier for commercial customers to transition their fleets to electric.

Were committed to helping businesses make the transition to electric easy, said... More

Morgan Stanley said buy these two auto stocks amid looming strike

With the impending expiration of UAW contracts on September 14th, the anticipation of a more 'contentious' bargaining process has intensified due to several contributing factors.

Factors surrounding exceptionally elevated inflation rates, rhetoric from new UAW leadership, notably favorable margins for the Detroit Three (Ford, General Motors and Stellantis) in the current cycle, and a wide array of recent instances that have set precedent for union contract discussions across adjacent manufacturing and service sectors in the United States.

With the chance of a UAW strike more likely than in recent years, Morgan Stanley analyst, Adam Jonas believes... More

HSBC sees no sign of EV price war in Europe

Despite several reports of major price cuts and margin shrink, HSBC believes that the media reports of a pricing war in the European EV market may be somewhat exaggerated.

German newspaper, Handelsblatt recently referenced a PwC Strategy report to support the notion of a BEV price competition extending to Europe. However, this view is in contrast with statements coming from the automobile manufacturers.

HSBC Global Research found that there is a shortage of collected information on pricing in Europe and has decided to launch... More

Morgan Stanley said buy Ford (F), GM (GM) amid looming UAW strike

Morgan Stanley analyst Adam Jonas said he would be a buyer of Ford Motor (NYSE: F) and General Motors (NYSE: GM) right now and during the UAS negotiations.

The analyst believes "even a difficult outcome can catalyze far bigger... More

General Motors (GM) Partners with Google (GOOGL) Cloud on AI Initiatives

General Motors (NYSE: GM) and Google Cloud (NASDAQ: GOOGL) today shared new details on how the two companies collaborated to bring conversational AI technology into millions of GM vehicles, helping drivers in a variety of ways. Since its launch in 2022, GM's OnStar Interactive Virtual Assistant (IVA) has been powered by advanced, intent-recognition algorithms that use Google Cloud's conversational AI technologies, providing OnStar Members with responses to common inquiries, as well as routing and navigation assistance.... More

Ford Motor (F) Expands Charging Solutions Revealing New Lineup of Chargers for Commercial Customers

Today Ford Pro, the commercial division within Ford Motor Company (NYSE: F), revealed new charging hardware added to its suite of end-to-end solutions to help make it easier for commercial customers to transition their fleets to electric.

The new Series 2 AC Charging Station 80 amp and expanded DC Fast Charger options are designed for commercial vehicle use and packed with new features. Coupled with Ford Pros charging management software, the company provides a fully integrated solution that simplifies EV charging for both Ford and non-Ford electric vehicles.

Were committed to helping... More

Stellantis (STLA) partners with Charge Enterprises to electrify dealerships

Stellantis (NYSE: STLA) announced Monday a partnership with EV infrastructure company, Charge Enterprises. Selecting the charging company to help Stellantis 2,600+ dealers in their electrification efforts.

With this partnership agreement, Charge becomes the fourth recommended partner for dealer EV readiness for Stellantis dealers across... More

Stellantis (STLA) Selects Charge Enterprises (CRGE) as Infrastructure Provider for US Dealership Network

Stellantis has selected Charge Enterprises to help dealers in their electrification effort and all aspects required to build out electric vehicle supply equipment (EVSE) for chargingCharge will offer white-glove, custom, end-to-end services to the 2,600-plus Stellantis dealers nationwideMove is additional step to help Stellantis fulfill its Dare Forward strategy and achieve 50% battery-electric vehicle sales rate by the end of this... More

Vinfast (VFS) becomes third most valuable carmaker as stock surge continues

Shares of electric-vehicle maker Vinfast (NASDAQ: VFS) surged as much as 30% in premarket trading on Monday morning, extending last weeks rally that saw the Vietnamese carmaker more than quadruple its market value to $160 billion.

A premarket share price of $90.55 indicated that the stock was headed towards increasing its market capitalization by nearly $50 billion.... More