Tag: Ford

‘The UK car industry is still the best in the world for new cars’

After the first round of voting for the 2019 World Car Awards, the unexpected happened. Britain’s battered and bruised motor industry was, in effect, voted third on the planet for desirable, quality products that impress and satisfy the people who drive them. Or, to be more precise, four British cars – the Aston Martin Vantage,… Continue reading ‘The UK car industry is still the best in the world for new cars’

Press Releases – European and Chinese auto makers commit to working more closely together

Brussels, 15 February 2019 – The major European and Chinese automobile manufacturers pledged to strengthen their collaboration at a summit held in Brussels today, where their associations – the European Automobile Manufacturers’ Association (ACEA) and the Chinese Association of Automobile Manufacturers (CAAM) – signed a cooperation agreement. Together, China and the EU – the world’s… Continue reading Press Releases – European and Chinese auto makers commit to working more closely together

Carmakers cut their PCP prices to kickstart Q1

Car manufacturers have adjusted their retail offer strategies to kickstart the year with a 4.4% drop in the average monthly prices of PCP deals, to £311.40, according to AM’s latest quarterly data. The increased affordability across manufacturers’ model ranges is in contrast to the 5.5% quarterly rise seen in Q4 2018. AM’s analysis of 259… Continue reading Carmakers cut their PCP prices to kickstart Q1

Ford CFO Bob Shanks expected to retire by end of year, sources say

Jeff Kowalsky | Bloomberg | Getty Images
Bob Shanks, chief financial officer of Ford Motor Co.

Ford CFO Bob Shanks plans to retire in 2019, sources familiar with the matter told CNBC on Thursday.

Shanks is expected to stay through the end of the year, according to sources familiar with the matter. His replacement will likely begin transitioning into the role in the second half of the year.

“As all boards of responsible companies do, our board of directors regularly reviews executive succession plans to ensure we have access to the best talent available and are prepared for orderly transitions to take place should the need arise,” Ford said in a statement.

Shares of Ford were up less than 1 percent Thursday afternoon.

General Motors starts taking orders for its electric bicycle

Source: General Motors
The ARĪV Meld is a compact eBike

General Motors just unveiled its electric bicycle in a bid to arm itself against an uncertain future for cars.

The largest U.S. automaker on Thursday released the name of its bike, Ariv, and said it will start taking orders in select countries in Europe.

The name is the result of a crowdsourced campaign announced in November. There are two versions: the Meld, a compact e-bike, and the Merge, a folding e-bike.

GM is launching the bikes in Germany, Belgium and the Netherlands, where lithium-ion battery-powered e-bikes are popular. In Belgium and the Netherlands, the Ariv Meld starts under $3,200 and the Ariv Merge is around $3,800. Prices will be slightly lower in Germany. GM expects to begin shipping to customers in the second quarter.

It is another move by a major automaker to broaden its portfolio to protect against the uncertainties of a changing market. GM and rivals have expanded into scooters, ride-sharing and self-driving cars in an effort to stay relevant in an era where consumers' transportation choices are changing. Even motorcycle maker Harley-Davidson has unveiled lightweight electric two-wheeler concepts as fears of declining ridership grow.

“I think both GM and Ford are both exploring nontraditional transportation opportunities because their overall vehicle sales have been declining,” CFRA analyst Garrett Nelson said. “We view GM's e-bike and Ford's recent e-scooter investment [in Spin] as an attempt to appeal to a younger and more urban demographic, whose transportation needs are proving to be considerably different than prior generations.”

With ride-hailing companies and similar businesses spreading, some industry watchers wonder whether broad swaths of future generations will even consider car ownership at all.

“Carmakers are highly concerned about the implications of this ongoing shift in consumer preferences on their long-term car sales, particularly with the rise of Uber, Lyft, and various ride-sharing options which weren't available several years ago,” Nelson said. “Their fear is that this demographic may not need — or want to — purchase a vehicle at all.”

CORRECTED-GM unveils ‘Ariv’ e-bikes, plans Europe launch in second quarter

The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio (Reuters) – General Motors Co announced on Thursday that its brand of electric bicycles would be called “Ariv” and begin selling in Europe in the second quarter of 2019. Two such bicycles, a compact… Continue reading CORRECTED-GM unveils ‘Ariv’ e-bikes, plans Europe launch in second quarter

Morgan Stanley: An electric pickup from Tesla or Rivian is a ‘serious problem’ for Detroit

With competition heating up, is Tesla losing its dominance?
15 Hours Ago | 09:06

The auto industry's electric vehicle revolution has only just begun, Morgan Stanley told investors in a note on Thursday, and the highly profitable pickup truck market is next.

“An electric pickup truck successfully launched by a new player (i.e. Rivian or Tesla) could be a serious problem for the Detroit based [traditional automakers],” Morgan Stanley analyst Adam Jonas said in a note to investors. Jonas is widely known on Wall Street for being one of the first to recognize the significance of Tesla and electric vehicles to the auto industry.

Jonas called reports that General Motors and Amazon are in talks to invest in Rivian, if true, “the biggest news in US autos so far this year.” Without such investments, he said, GM and Ford are losing the opportunity for a “first mover advantage” in producing all electric pickup trucks. Jonas also says Rivian has a competitive advantage from building its truck from the ground up, with little prior conception of an internal combustion engine truck to cloud its view.

“Both GM and Ford have the technical capability to develop and produce and all electric pickup … but we believe design, software, electrical architecture, and brand may be best coming from the 'outside,'” Jonas said.

Additionally, Morgan Stanley said “investors may find it surprising that nearly 9 years after Tesla's IPO there are only 2 pure play EV manufacturer stocks trading publicly in the US market.” The other electric vehicle company that Jonas is referring to is Nio, a Chinese company that listed shares on the New York Stock Exchange in September.

Tesla may unveil an electric pickup truck this summer, CEO Elon Musk said during the company's fourth-quarter conference call. In December, Musk talked extensively on Twitter about what he would like to include in a pickup truck design, including all-wheel drive with “crazy torque & a suspension that dynamically adjusts for load.”

Phillip Faraone | Getty Images Entertainment | Getty Images
Rivian CEO RJ Scaringe attends and speaks at Rivian unveiling of R1T All-Electric Truck.

Rivian showed off prototypes of its R1T electric truck and its seven-passenger R1S sport utility vehicle in November. Rivian CEO R.J. Scaringe said the R1T and R1S will deliver 400 miles of range, with four individual motors allowing for all-wheel-drive. The R1T will be able to hit 60 miles per hour in 3 seconds and tow up to 11,000 pounds.

Morgan Stanley had already featured Rivian twice this week: once as “the next serious competition for Tesla” and again when reports of Amazon and GM's investment surfaced. If GM does invest, Jonas said, it would be “another sign of GM's prescient strategic vision.”

“From an industrial strategy perspective, while many other [traditional automakers] are playing checkers, GM seems to be playing chess,” Jonas said.

Finally, even without the possible investment, Morgan Stanley believes Rivian represents one of the top challengers to Tesla's dominance in the global electric vehicle market.

“The increased legitimacy and capitalization of new/startup EV firms, like Rivian, pose a compounding competitive threat to Tesla. All else equal, a potential GM-Amazon-Rivian tie up could be a clear negative for Tesla in our view,” Jonas said.

Ford Motor Company Issues Three Recalls in North America

DEARBORN, Mich., Feb. 13, 2019 – Ford Motor Company is issuing two safety recalls and a safety compliance recall in North America. Details are as follows: Safety recall for select 2011-13 Ford F-150 vehicles with 6-speed automatic transmission shift issues Ford is issuing a safety recall on select 2011-13 Ford F-150 vehicles with 6-speed automatic… Continue reading Ford Motor Company Issues Three Recalls in North America

Press Releases – Stable EU auto market in view for 2019, with CO2 and trade challenges ahead

Paris, 13 February 2019 – In 2019, EU car sales will stagnate at 2018 levels in terms of units sold, staying close to the 15 million new registrations mark recorded last year, according to new forecasts by the European Automobile Manufacturers’ Association (ACEA). Although 2018 was the fifth consecutive year of growth, the pace of… Continue reading Press Releases – Stable EU auto market in view for 2019, with CO2 and trade challenges ahead