Potential investment falls through for Ford’s (F) German plant

UAW President Fain holds Facebook live event - 'Our strike is working, but were not there yet'

October 6, 2023 2:36 PM EDT

United Auto Workers (UAW) President Shawn Fain held a Facebook live event Friday afternoon where he announced his union has made significant progress in their effort to push automakers towards meeting the demands of workers.

Fain announced that moments before this broadcast General Motors (NYSE: GM) agreed to place their EV battery manufacturing under the UAWs national agreement, calling the decision a... More

U.S. releases new guidance on EV tax credit rebate rules

October 6, 2023 10:26 AM EDT

The U.S. Treasury Department has issued fresh guidelines on Friday, outlining updated regulations that make it simpler for individuals to recover costs associated with electric vehicle purchases using the existing EV tax incentives.

Beginning on January 1, consumers will have the option to transfer these credits directly to a car dealership, effectively reducing the purchase price for the vehicle. This change is expected to potentially boost EV... More

GM airbag recall could cost ~$4-5B - Wells Fargo

October 6, 2023 8:50 AM EDT

Wells Fargo reiterated an Underweight rating on General Motors (NYSE: GM) and maintained their 12-month price target of $29.00 on the stock following a report by the Wall Street Journal saying U.S. regulators are pushing to recall 52M ARC airbag inflators.

The National Highway Traffic Safety Administration (NHTSA), in a rarely held public forum, recommended the recall as a mechanism utilized in the... More

NHTSA holds public hearing to recall 52M air bag inflators

October 5, 2023 1:46 PM EDT

Officials from the U.S. National Highway Traffic Safety Administration (NHTSA) Thursday recommended the government mandate a recall of 52 million air bag inflators manufactured by ARC Automotive and Delphi Automotive.

The regulators believe the inflators pose a potential risk of rupturing and ejecting metal fragments.

The NHTSA held a rare public hearing on the matter, which could trigger one of the most extensive recalls in U.S. history.

Delphi Automotive, which is a part of Autoliv (NYSE: ALV), produced approximately 11 million of these... More

General Motors (GM) makes counteroffer to striking UAW

October 5, 2023 1:17 PM EDT

Detroit automaker, General Motors (NYSE: GM) revealed Thursday that they have submitted a counteroffer to the United Auto Workers (UAW), its sixth since talks began, in hopes to end a strike by the union against the U.S. automaker.

"We believe we... More

Ford says potential investor in Saarlouis plant pulls out

October 5, 2023 8:35 AM EDT

By Victoria Waldersee

BERLIN (Reuters) -Talks between Ford and a potential investor in its plant in Saarlouis, Germany have fallen through, the carmaker said on Thursday, plunging workers back into uncertainty over the future of the site and their jobs.

A union representative expressed disappointment and anger at the news, saying talks with the company would continue on Monday on a collective bargaining agreement for workers who stood to lose their jobs.

"This will be expensive for Ford," union representative Joerg... More

GM secures $6B line of credit as UAW strike continues

October 4, 2023 11:15 AM EDT

General Motors (NYSE: GM) announced Wednesday morning the procurement of a fresh $6 billion line of credit and disclosed that the financial impact of the United Auto Workers (UAW) strike in the 3Q amounted to $200 million, according to a company representative.

The strike, which began on September 15th and has now... More

Ford Motor (F) Announces Q3 Sales Up 7.7 Percent

October 4, 2023 9:17 AM EDT

Ford (NYSE: F) posted gains across its portfolio of gas, electric and hybrid vehicle lines in the third quarter with F-Series expanding its lead as Americas No. 1 selling truck, followed by record electric and hybrid vehicle sales and strong commercial Transit van sales.

Ford Continues as Americas No. 1 selling truck manufacturer as total truck sales expand in Q3Bronco family up 24.8 percent on sales of 66,120 SUVsNew 7th generation Mustang hits the streets first full month of sales up 90.4 percentFord hybrid vehicles post best-ever sales on strong F-Series and... More

September auto sales surpass expectations despite challenges

October 4, 2023 8:36 AM EDT

The United States, in September, witnessed an impressive resurgence in the automotive industry, with the SAAR for light vehicle sales reaching a remarkable 15.7 million. This surge marked a 16.2% year-over-year increase, surpassing J.P. Morgans earlier projection of 15.4 million.

One contributing factor to the surge in auto sales is pent-up demand. Adverse weather conditions in several states during August may have led potential buyers to delay their purchases, resulting in an influx of sales the following month.

Another key factor driving strong performance is the greater availability of cars... More

Ford (F) launches F-150 Lightning Flash with focus on tech

October 3, 2023 3:53 PM EDT

Ford (NYSE: F) has introduced the F-150 Lightning Flash, a cutting-edge electric pickup truck with an extended-range battery and BlueCruise technology. The F-150 Lightning Flash is priced starting at $69,995 and will be open for online orders through Ford.com in early 2024.

In a press statement, Marin Gjaja,... More

Ford Motor (F) option IV increases

October 3, 2023 11:18 AM EDT

Ford Motor (NYSE: F) October weekly call option implied volatility is at 24, October is at 40; compared to its 52-week range of 27 to 588.

... More

Ford (F) PT Lowered to $12 at Goldman Sachs

October 3, 2023 3:18 AM EDT

Goldman Sachs analyst Mark Delaney lowered the price target on Ford (NYSE: F) to $12.00 (from $13.00) while maintaining a Neutral rating.... More