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Manufacturers are entering commitments to produce more automotive-grade chips for automotive manufacturers that have idled production amid the shortage.
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How fast automakers move vehicles from factory floors to showrooms will shape the sales story the rest of the year.
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Today’s news pushed Ford shares up 6%. Ford stock prices have doubled since CEO Jim Farley took the helm in October 2020.
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The Detroit 3 has taken the biggest hit as automakers tweak production to manage the crisis.
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The Biden Administration has bipartisan support to contribute $50 billion for semiconductor manufacturing and research, but where the funds will go remains subject of debate.
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Ford Motor Co. and General Motors Co. are investing in Silicon Valley-area ventures as they try to stay in front of the fast-changing automotive industry. Ford tapped former University of Michigan interim athletic director Jim Hackett to lead a new subsidiary, Ford Smart Mobility LLC, according to The Detroit News. That wing of the company ... Read More »
Read More →Five automakers on Thursday widened recalls of cars and trucks with Takata Corp air bags and the U.S. Congress set a hearing next week on the safety issue that has been linked to six deaths, reported Reuters. Takata last week complied with demands of U.S. safety regulators and doubled the vehicles to be involved in air ... Read More »
Read More →Ford Motor Co’s Americas chief indicated on Wednesday that the No. 2 U.S. automaker will be looking to bring its labor costs in line with those of its smaller rival Fiat Chrysler Automobiles when it opens talks this summer with the union representing its hourly workers, reported Reuters. Joe Hinrichs, speaking at a Bank of ... Read More »
Read More →BlackRock Inc. on Monday reported a 5.4% stake in Ford Motor Co., less than two weeks after the No. 2 U.S. auto maker reported a sharp drop in fourth-quarter profit, reported The WSJ. BlackRock, the world’s largest asset manager, said a year ago that it had a stake of 5.2%, which represents the total amount ... Read More »
Read More →DETROIT – Ford Motor Co. reported net income of $835 million in the third quarter, a drop of about 34 percent from earnings of $1.27 billion in the year-ago period, reported MLive. Pre-tax profit fell to $1.2 billion in the third quarter of 2014 from $2.6 billion in the comparable quarter last year. Ford said ... Read More »
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