Category Archives: financial results

Ford Shakes up European and International Markets as CFO Shanks Retires. Restructuring Continues as Stock Languishes

The more significant news, perhaps, is happening at Ford’s European money pit and its struggling International Markets Group. Peter Fleet, president of IMG, has announced his intention to retire. Fleet, 51, held leading in Ford marketing, sales and service, and business operations globally for nearly 30 years. Prior to the establishment of the International Markets Group, Fleet served as president of Asia Pacific, leading all of Ford’s operations and partnerships across the region. Previously, he was president of Ford ASEAN and vice president, Sales, Ford of Europe. Continue reading

Posted in financial results, milestones, news analysis, people | Tagged , , , , , , , | Leave a comment

Record Electric Car Sales in California. Taxpayers on the Hook

Electric and plug-in hybrid electric cars are now 7.8% of all new car sales in California, and some areas such as Sacramento and San Luis Obispo counties, nearly doubled their EV rebates this past year. Known as the Clean Vehicle Rebate Project (CVRP), its potential impact on funding is now a matter of discussion among officials. Continue reading

Posted in electric vehicles, environment, financial results | Tagged , , , , , | Leave a comment

BMW Manufacturing Largest US Auto Exporter Again

The news comes as the disastrous results of President Trumps’ trade tampering were published. (Trump Record Deficit Watch – Another Proposed Increase) The U.S.’s trade deficit in goods with the rest of the world rose to its highest level in history in 2018 as the United States imported a record number of products, including from China. This increased the deficit to $891.3 billion as Trump caree Continue reading

Posted in economy, financial results, manufacturing | Tagged , , , , , , , | Leave a comment

Ford Exits Heavy Truck Business in South America

Most of these pre-tax special item charges and cash outflows of 4460 million will be recorded in 2019 and are part of the $11 billion in EBIT charges with cash-related effects of $7 billion the company expects to take in the redesign of its global business. Continue reading

Posted in auto news, economy, financial results, labor issues, manufacturing, news analysis | Tagged , , , , , , , | Leave a comment

Japanese-brand Automakers Generate 1.52 Million Jobs in US

It doesn’t estimate how many are lost to oversees manufacturing and imports. Thus, go the one-sided volleys in the ongoing automotive trade wars. Continue reading

Posted in economy, financial results, labor issues, manufacturing, news analysis | Tagged , , , , , , , , , , | Leave a comment

Doomsday? No-Deal Brexit Impact on UK Light Vehicle Market

If the UK leaves the EU without a deal, then the LMC assumption would be that vehicles exported to the EU from the UK would be subject to a tariff of 10% as the UK would, by then, have become a ‘third country’ under EU trade rules. Continue reading

Posted in auto news, economy, financial results, fools 'n frauds, news analysis, prices | Tagged , , , , , , , , , , | Leave a comment

GM Declares Q1 2019 Dividend of 38 Cents

GM is counting on the longer, wider and taller Silverado HD to bolster profits. It has a new 6.6-liter V8 gas engine with direct injection with a six-speed automatic transmission. Continue reading

Posted in financial results, marketing, new vehicle | Tagged , , , , , , , , , | Leave a comment

Ghosn to be Gone at Next Nissan Shareholders Meeting

Renault-Nissan-Mitsubishi is today the world’s largest automotive partnership, with combined sales of more than 10.6 million vehicles. Continue reading

Posted in customer satisfaction, financial results, milestones, news analysis, people | Tagged , , , , , , , , , , , , , | Leave a comment

Final Winter NAIAS Charity Preview Raises $4,000,000

Now in its 43rd year, Charity Preview has raised over $121,000,000 for southeastern Michigan children’s charities since the Detroit Auto Dealers Association established the event. Continue reading

Posted in auto news, financial results, milestones, people | Tagged , , , , , , , , , , | Leave a comment

Volkswagen and Ford Announce Alliance Without Cross Equity

The history of such industry collaborations is difficult and littered with road kill. The problem is whether the two global giants and hundreds of thousands of workers can walk in step together or stumble over each other. Continue reading

Posted in auto news, economy, engineering, financial results, manufacturing, marketing, mobility company, new vehicle, news analysis | Tagged , , , , , , , , , , , , , , | Leave a comment

GM Projects Strong Earnings, Improved Cash Flow in 2019

In 2019, despite a diminishing car market, GM expects the overall U.S. market to remain strong, projecting total industry sales in the low 17-million range. The company will benefit from a full year of volume from GM’s all-new Chevrolet Silverado and GMC Sierra light-duty full-size pickups. The trucks have contributed to retail market share growth in the light- duty pickup segment every month since August, with average transaction prices that have surpassed those of key competitors. Continue reading

Posted in economy, electric vehicles, financial results, news analysis | Tagged , , , , , , , , , , , , | Leave a comment

Ford to Restructure European Business Once Again

Near term, Ford is cutting costs by a reduction of surplus labor across all functions – salaried and hourly. A change in management structure, announced in December, already is underway through Ford’s hoeing and weeding its global salaried workforce. Continue reading

Posted in auto news, financial results, labor issues, mobility company, news analysis, people | Tagged , , , , , , , , | Leave a comment

Corporate Raiders After Ford Motor Stock at Deep Discount

Baker Mills’ offer price of $7.00 per share in cash is approximately ~17.84% lower than the $8.52 closing price of Ford common stock on Dec. 14, 2018, the last closing price prior to commencement of the offer. The markets are closed today. Continue reading

Posted in auto news, economy, financial results, news analysis, prices | Tagged , , , , , , , , , | Leave a comment

Japanese Scrooges Run Amok as Carlos Ghosn Re-Arrested. Christmas Locked Up for the Gaijin!

Prosecutors then re-arrested Ghosn on new charges in a sordid tale that goes back to Ghosn’s first arrest on 19 November 2018. Ghosn could now be in a tiny jail cell for another 10 days or more, where he has been locked up since last month on initial allegations of financial misconduct. Continue reading

Posted in AutoInformed Editorial, financial results, fools 'n frauds, litigation, news analysis, people | Tagged , , , , , , , , | Leave a comment

GM to Provide Financial Support to Fired Union Workers

GM’s November announcement impacts 2,600 hourly workers and approximately 340 salaried or contract workers at the Oshawa Assembly Plant once a crown jewel in the GM collection for its productivity, flexibility and quality. GM Canada will continue to discuss its announcements regarding Oshawa Assembly with Unifor, the union it has a no close contract with in force until the end of 2019. Continue reading

Posted in economy, financial results, news analysis, people | Tagged , , , , , , , | Leave a comment