Detroit
Ford Motor is set to report earnings after the bell. Here’s what Wall Street expects
2023 Ford F-150 Raptor R Ford DETROIT – Ford Motor is set to report its third-quarter earnings after the bell on Wednesday. Here’s what Wall Street is expecting, according to Refinitiv consensus estimates: Adjusted earnings per share: 27 cents Automotive revenue: $36.25 billion Ford last month set investor expectations for the third quarter by partially […]
Read More
Ford unveils 2023 Escape to sell alongside Bronco Sport in highly competitive compact SUV segment
2023 Ford Escape ST-Line Elite Ford DETROIT — Ford Motor is updating its popular Escape as part of a two-pronged sales strategy alongside the newer, more rugged Bronco Sport in the highly competitive compact SUV segment. Ford expects the new design of the 2023 Escape, in combination with additional convenience and safety technologies, to help […]
Read More
General Motors is set to report earnings before the bell. Here’s what Wall Street expects
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on Thursday, May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet DETROIT – General Motors is set to report its third-quarter earnings before the bell on Tuesday. Here’s what Wall Street is […]
Read More
Hyundai says Biden’s new EV tax credit rules deal ‘astronomical’ blow to business
DETROIT – The Biden administration’s elimination of tax credits for imported electric vehicles deals a massive blow to Hyundai Motor’s business, an executive for the automaker said Wednesday. Jose Munoz, global president and chief operating officer, declined to disclose a specific financial impact associated with the requirements of the Inflation Reduction Act, but described it […]
Read More
Wall Street eyes auto industry earnings for signs of ‘demand destruction’
A sign advertises to purchase cars at a used car dealership in Arlington, Virginia, February 15, 2022. Saul Loeb | AFP | Getty Images DETROIT – Since the start of the pandemic in early 2020, U.S. automakers and dealers have seen record profits as demand outpaced supplies of new cars amid supply chain problems. But […]
Read More
GM tests limits of Cadillac’s brand power with $300,000 Celestiq electric car
2024 Cadillac Celestiq Cadillac DETROIT – Cadillac is testing the limits of its brand allure and pricing power with the 2024 Celestiq – a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled Monday night – launches the General Motors brand into the ultra-luxury segment against the likes of […]
Read More
GM reveals 2024 Chevrolet Trax crossover with new tech and design — at a lower price
2024 Chevrolet Trax ACTIV GM DETROIT — General Motors on Wednesday revealed a new version of its Chevrolet Trax — the brand’s entry-level crossover — with new technologies and a more aggressive design, and at a lower price than the current vehicle. The compact is key to attracting and retaining cost-conscious buyers for the Detroit […]
Read More
GM and Ford shares fall after UBS downgrades on expectations for weakening demand
The General Motors world headquarters office is seen at Detroit’s Renaissance Center. Paul Hennessy | LightRocket | Getty Images DETROIT — Shares of General Motors and Ford Motor each tumbled Monday after a pair of UBS downgrades citing expectations for weakening demand amid inflationary pressures. Ford’s stock was down by roughly 7% in midday trading […]
Read More
New cars are finally back in stock — but Americans might not be able to afford them
Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. Mario Tama | Getty Images DETROIT — New cars are slowly becoming more widely available, as supply chain bottlenecks finally start to ease. But now, an increasing number of Americans might not want them or be able to […]
Read More
Ford hikes starting price of electric F-150 Lightning for second time in less than two months
Ford F-150 Lightning pickup trucks are shown at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT – Ford Motor is increasing the starting price of its electric F-150 Lightning pickup by $5,000 for the 2023 model year, citing rising costs and supply chain issues. […]
Read More