Ford reported a 10.2% decline in July U.S. vehicle sales, which the company says was intentional due to phasing out two models and reducing low-margin rental fleet sales. Despite the drop, Ford calls it a "good sales month" as part of a strategy to make room for new product launches by the decade's end. The automaker's year-to-date sales are down 9.7%, impacted by past production issues and a slowdown in electric vehicle sales. Without these planned cuts, Ford's sales decline would have been less than 1%, slightly better than the overall industry decline of about 2%.
Tesla is recalling nearly 3 million vehicles in China due to hidden emergency door releases that could trap occupants during crashes or fires. This recall is part of a broader effort involving 11 carmakers, including Xiaomi, Xpeng, and Geely, to inst...
Ford shares dropped 4% after a rally driven by an unconfirmed report about future Bronco models reversed. The initial 4% gain was based on speculation of hybrid and pickup Bronco versions years away, which Ford has not confirmed. Meanwhile, General M...
Tesla and Rivian stocks rose 3% and 4% respectively, leading gains in the electric vehicle sector amid a drop in long-term Treasury yields following a Treasury Department announcement to double debt buybacks. Legacy automakers Ford and General Motors...
General Motors (GM) and Ford both raised their full-year guidance in 2024, but the market favors them differently. GM's aggressive buyback program, including multiple $6 billion repurchases and a 25% dividend increase, drove its stock up significantl...
