Stellantis NV on Wednesday said revenue increased 14% to $52 billion (47.2 billion euro) in the first quarter of 2023 from last year as global shipments increased 7% and inventories recovered from the ongoing global microchip shortage. Shipments totaled 1.476 million vehicles in the first quarter. In its largest region, North America, revenue rose 10% year-over-year to… Continue reading Microchip availability boosts Stellantis revenues, shipments in the first quarter
Author: Detroit News Online
Ford posts April sales gain as F-Series comes roaring back
Ford Motor Co.’s U.S. sales rose 4% year-over-year in April, bolstered by strong results in the truck segment. The Dearborn automaker sold 184,002 vehicles in the United States last month. Sales of internal combustion engine vehicles were up 5.6%, while hybrid vehicle sales slipped 6.9% and electric-vehicle sales fell 25% as the automaker continued to… Continue reading Ford posts April sales gain as F-Series comes roaring back
Ford posts ‘solid’ 1Q earnings but Wall Street’s wary over steep EV losses
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics from… Continue reading Ford posts ‘solid’ 1Q earnings but Wall Street’s wary over steep EV losses
Ford posts strong revenue and higher profit margins, exceeding Wall Street expectations
Ford Motor Co. posted profits of $1.8 billion in the first quarter of 2023, up from the $3.1 billion loss it reported a year ago. Revenue rose 20% year-over-year to $41.5 billion on a 9% increase in vehicle shipments over the same period last year. And adjusted operating profits were up 45% to $3.4 billion.… Continue reading Ford posts strong revenue and higher profit margins, exceeding Wall Street expectations
BYD will accelerate bottom-up EV trend with under-$11,000 model
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics from… Continue reading BYD will accelerate bottom-up EV trend with under-$11,000 model
The Platform begins work on $38.2 million Piquette Flats project in Detroit
Detroit-based developer the Platform said Tuesday that work has begun on its $38.2 million project to redevelop the former Studebaker building in Detroit into a 161-unit affordable housing apartment complex. Called the Piquette Flats, the 108,000-square-foot historic industrial building at 411 Piquette will house 71 studios, 87 one-bedrooms and three two-bedroom loft-style apartments. The development in… Continue reading The Platform begins work on $38.2 million Piquette Flats project in Detroit
Ford cuts Mustang Mach-E prices across lineup, reopens order banks
Ford Motor Co. on Wednesday will reopen order banks for the Mustang Mach-E — again lowering prices on the battery-electric crossover amid signals that an EV price war is brewing. The Dearborn automaker is reducing pricing across the Mach-E lineup by as much as $4,000, bringing the lowest-priced model, the select rear-wheel-drive standard range, down… Continue reading Ford cuts Mustang Mach-E prices across lineup, reopens order banks
GM head of North America to retire, head of Cadillac to lead region
General Motors Co. announced four executive leadership changes Tuesday with the retirement of Steve Carlisle, executive vice president and president, North America, who will be replaced by Cadillac leader Rory Harvey. Carlisle, 61, is retiring after 41 years with the Detroit automaker. He’s led GM North American operations since September 2020. Before leading North America, Carlisle… Continue reading GM head of North America to retire, head of Cadillac to lead region
Senate Republicans criticize Biden nominee for top auto regulator over fears of EV shift
Washington — President Joe Biden’s pick to lead the National Highway Traffic Safety Administration is coming under fire from Republican members of a Senate panel responsible for approving her nomination. Ann Carlson has been the acting administrator for the vehicle regulating agency since September, when former administrator Steven Cliff stepped down, and has been its… Continue reading Senate Republicans criticize Biden nominee for top auto regulator over fears of EV shift
How Ford is using the launch of the 2023 Super Duty to improve quality
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics from… Continue reading How Ford is using the launch of the 2023 Super Duty to improve quality