Startup Lordstown Motors Corp said Wednesday it is in advanced talks with the U.S. Energy Department seeking a government loan from a program to help pay for the costs of retooling a factory to build electric trucks.
Indian automaker Mahindra & Mahindra Ltd has cut more than half of the workforce at its North American unit, two sources familiar with the matter told Reuters, due to the COVID-19 pandemic and an ongoing legal tussle.
Ford Motor Company (NYSE: F) said on Wednesday that its sales in China rose 30% in the fourth quarter from a year ago, as its revamped product line and SUVs from its Lincoln luxury brand continue to gain traction with Chinese consumers. For the full year, Ford's sales in China we
In recent trading, shares of Ford Motor Co. (Symbol: F) have crossed above the average analyst 12-month target price of $9.65, changing hands for $9.78/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation
The auto business has been a notoriously poor industry for long-term investors. Look back over a century, and automakers have gone boom and bust, with very few companies spared from the industry's volatility. Over time, there aren't many durable competitive advantages in mass-mar
Startup Lordstown Motors Corp said Wednesday it is in advanced talks with the U.S. Energy Department seeking a government loan from a program to help pay for the costs of retooling a factory to build electric trucks.
U.S. stock index futures were flat on Wednesday as investors digested a recent rally to record highs on bets of a snap-back in economic activity fueled by more fiscal stimulus and vaccine rollouts.
Indian automaker Mahindra & Mahindra Ltd has cut more than half of the workforce at its North American unit, two sources familiar with the matter told Reuters, due to the COVID-19 pandemic and an ongoing legal tussle.
Ford Motor Co said on Wednesday it sold 602,627 vehicles in China last year, up 6% from 2019, its first annual growth in the world's biggest car market since 2017.
What happenedShares of Ford Motor Company (NYSE: F) were trading higher on Tuesday, for reasons that weren't immediately clear. As of 2:30 p.m. EST, Ford's shares were up about 4.6% from Monday's closing price.
What happenedShares of General Motors (NYSE: GM) were trading higher on Tuesday. In a presentation at the Consumer Electronics Show (CES), GM revealed a new electric commercial-vehicle brand and gave an update on its plan to transition entirely to electric vehicles.
General Motors (NYSE: GM) said that it is launching a new electric commercial-vehicle business, called BrightDrop, that will provide a complete set of software-connected electric vehicles (EVs) to customers. And it has already landed FedEx (NYSE: FDX) as its first big customer. W
General Motors Co staked its claim in the growing electric delivery vehicle business on Tuesday, with Chief Executive Mary Barra outlining plans for its first BrightDrop commercial vans to be delivered to FedEx by year-end.
General Motors Co staked its claim in the growing electric delivery vehicle business on Tuesday, with Chief Executive Mary Barra outlining plans for its first BrightDrop commercial vans to be delivered to FedEx by year-end.
Ford Motor Co's decision to close three plants in Brazil will cut its losses and allow it to focus on boosting profitability in its underperforming international segment, J.P. Morgan analysts said on Tuesday.
Ford shares gained over 3% on Monday after it announced that it would be closing its production operations in Brazil in 2021. Ford’s South American headquarters and product development centers will remain in Brazil but vehicles will be sourced from Argentina, Uruguay and other markets.
Ford (F) is evaluating its businesses around the world and restructuring in ways that advance Ford’s plan to increase its profit margins and free up cash flow.
Ford’s plans to revamp its automotive business include simplifying and modernizing all aspects of the company by building on its existing strengths and partnering with others to gain expertise and improve efficiency.
“We know these are very difficult, but necessary, actions to create a healthy and sustainable business,” said Jim Farley, Ford president and CEO. “We are moving to a lean, asset-light business model.”
Ford will start engaging immediately with employee unions and other stakeholders to develop an “equitable and balanced plan to mitigate the impacts of ending production.” (See F stock analysis on TipRanks)
Benchmark analyst Michael Ward reiterated his Buy rating on Ford three weeks ago and raised his price target from $11 to $12. This implies upside potential of around 30% from current levels.
Ward specifically cites Ford’s restructuring plans and improving North America industry sales as catalysts for strengthening Ford’s financial position over the next couple of years.
Consensus among analysts is a Hold based on 3 Buys, 10 Holds and 1 Sell. The average price target of $9.44 suggests that Ford shares are fully priced at current levels.
Toyota Motor Corp halted some of its production lines in China's Guangzhou City due to a shortage of semiconductors, the Japanese automaker said on Tuesday, the latest case of shortages affecting the automobile industry.
(RTTNews) - Ford Motor will close manufacturing operations in Brazil, where it has been operating since 1919 and expects to take pre-tax charges of about $4.1 billion as the COVID-19 pandemic increased persistent industry idle capacity and slow sales. The action could reportedly