General Motors (GM) makes counteroffer to striking UAW
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Stellantis (STLA) to introduce new commercial vehicles and strategy
October 9, 2023 9:42 AM EDTStellantis (NYSE: STLA) revealed Monday morning that the automaker plans to introduce reimagined Commercial Vehicles from multiple brands on Monday, October 23, at 3 p.m. CEST / 9 a.m. EDT.
Jean-Philippe Imparato, who leads the Commercial Vehicles Business Unit, and Xavier Peugeot, the Senior Vice... More
UAW President Fain holds Facebook live event - 'Our strike is working, but were not there yet'
October 6, 2023 2:36 PM EDTUnited 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 EDTThe 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 EDTWells 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 EDTOfficials 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
GM (GM) Has at Least 20 Million Vehicles With Potentially Explosive Air-Bag Parts - WSJ
October 5, 2023 11:55 AM EDT(Updated - October 5, 2023 11:55 AM EDT)
GM (GM) Has at Least 20 Million Vehicles With Potentially Explosive Air-Bag Parts - WSJ
NHTSA Holds Meeting to Consider Whether to Order Recall Over the Air-Bag Components... MoreGeneral Motors (GM) will bring Cadillac EVs to Switzerland and other European markets
October 5, 2023 10:39 AM EDTGeneral Motors (NYSE: GM) announced Thursday that the Detroit automaker will begin selling all-electric Cadillac vehicles in Switzerland, marking the initial move in its reentry into the European market after divesting the Opel and Vauxhall brands in 2017.
In a blog post, Jaclyn McQuaid, GM's... More
Potential investment falls through for Ford’s (F) German plant
October 5, 2023 10:16 AM EDTFord (NYSE: F) revealed Thursday that a prospective investor for its Saarlouis plant in Germany has withdrawn their interest, leaving employees once again uncertain about the fate of the facility and their employment status.
A representative from the labor union expressed dissatisfaction and frustration regarding this development. They also mentioned that discussions with the company would resume on Monday regarding a... More
Ford says potential investor in Saarlouis plant pulls out
October 5, 2023 8:35 AM EDTBy 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
Wallbox (WBX) teams with Free2move eSolutions to accelerate EV adoption in North America
October 4, 2023 2:34 PM EDTEV charging and energy management solutions company, Wallbox (NYSE: WBX) announced Wednesday that they have partnered with Free2move eSolutions to promote the adoption of electric vehicles in North America.
Free2move is a joint venture with Stellantis (NYSE: STLA) created to design innovative... More
GM secures $6B line of credit as UAW strike continues
October 4, 2023 11:15 AM EDTGeneral 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 EDTFord (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... MoreSeptember auto sales surpass expectations despite challenges
October 4, 2023 8:36 AM EDTThe 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
Wallbox (WBX) and Free2move eSolutions Collaborate to Accelerate EV Adoption in North America
October 4, 2023 6:37 AM EDTWallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced a collaboration with Free2move eSolutions, a joint-venture with Stellantis (NYSE: STLA), dedicated to empowering customers with streamlined electric... More
CFRA Upgrades General Motors (GM) to Sell
October 3, 2023 4:53 PM EDTCFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Strong Sell to Sell with a price target of $28.00.
The analyst commented, "We maintain our 12-month target of $28, based on a 2024 P/E of 4.2x, a steep but justified discount to historic averages. We increase our 2023 adjusted... More
Ford (F) launches F-150 Lightning Flash with focus on tech
October 3, 2023 3:53 PM EDTFord (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
FCA Third-quarter 2023 US Sales Down 1% (STLA)
October 3, 2023 2:09 PM EDT2023 total U.S. sales decrease 1% in Q3 versus the same quarter last yearChrysler brand up 96%, with Pacifica sales up 120% versus the same quarter last year; Pacifica Plug-in Hybrid, up 329% over same period last year, holds No. 3 spot among top-selling PHEVs in the U.S. Jeep® Wrangler 4xe total U.S sales up 31% versus same quarter last yearJeep Wrangler 4xe and Jeep Grand Cherokee 4xe top No. 1 and No. 2 sales spots, respectively, as best-selling plug-in hybrids in the U.S. marketGrand Wagoneer U.S. total sales up 22% versus the same period last year... More
General Motors (GM) reports Q3 vehicle sales of 674,336
October 3, 2023 12:02 PM EDTGeneral Motors (NYSE: GM) reports Q3 vehicle sales of 674,336
28% EV sales increase compared to second quarter... MoreStellantis (STLA) option IV increases
October 3, 2023 11:19 AM EDTStellantis (NYSE: STLA) 30-day option implied volatility is at 31; compared to its 52-week range of compared to its 52-week range of 23 to 423.
... MoreFord Motor (F) option IV increases
October 3, 2023 11:18 AM EDTFord 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.
... MoreGeneral Motors (GM) option IV increases
October 3, 2023 11:17 AM EDTGeneral Motors (NYSE: GM) October weekly call option implied volatility is at 44, October is at 41; compared to its 52-week range of 27 to 60.
... MoreStellantis (STLA) to build five new EVs at Italy’s Melfi facility
October 3, 2023 11:04 AM EDTItalian labor unions announced Tuesday that Chrysler-parent, Stellantis (NYSE: STLA) will begin production of five new medium-sized electric vehicle models, representing various brands, at its Melfi plant in southern Italy. These vehicles are intended for the European and Middle Eastern markets and are scheduled for production... More
General Motors (GM) PT Lowered to $29 at Wells Fargo
October 3, 2023 6:42 AM EDTWells Fargo analyst Colin M. Langan lowered the price target on General Motors (NYSE: GM) to $29.00 (from $33.00) while maintaining a Underweight rating.... More
Ford (F) PT Lowered to $12 at Goldman Sachs
October 3, 2023 3:18 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on Ford (NYSE: F) to $12.00 (from $13.00) while maintaining a Neutral rating.... More
General Motors (GM) PT Lowered to $32 at Goldman Sachs
October 3, 2023 3:18 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on General Motors (NYSE: GM) to $32.00 (from $47.00) while maintaining a Buy rating.... More
