Revenue increases 12% year-over-year to $45 billion; net income ($1.9 billion) and adjusted EBIT ($3.8 billion) also higher; cash and liquidity persistently strong Appeal of Ford Pro to commercial customers produces 22% revenue growth; EBIT more than doubles to $2.4 billion, a 15% margin; software, repair services sales up Ford Blue gas and hybrid business… Continue reading @Ford: Ford Pro, Ford Blue Drive Solid Second-Quarter Results; Company Raises Expectations for Full-Year 2023 Profitability
Tag: Strategy
Lithium Scarcity Pushes Carmakers Into the Mining Business
Eager to avoid falling further behind Tesla and Chinese car companies, many Western auto executives are bypassing traditional suppliers and committing billions of dollars on deals with lithium mining companies. They are showing up in hard hats and steel-toed boots to scope out mines in places like Chile, Argentina, Quebec and Nevada to secure supplies… Continue reading Lithium Scarcity Pushes Carmakers Into the Mining Business
GDIT Awarded $320 Million in Consular Services Task Orders by the Department of State
Company to continue delivering U.S. visa support services in South America FALLS CHURCH, Va., July 27, 2023 /PRNewswire/ — General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today that it was awarded two recompete task orders totaling $320 million by the U.S. Department of State’s Bureau of Consular Affairs to… Continue reading GDIT Awarded $320 Million in Consular Services Task Orders by the Department of State
Europa Wire: Global Factory Service Specialist Leadec Expands in Western France with New Packaging Handling Center000702
Global Factory Service Specialist Leadec Expands in Western France with New Packaging Handling Center (IN BRIEF) Leadec, a global service specialist for factories, has established a new company in Saint-Barthélemy-d’Anjou, Western France. The company has rented a factory building of over 12,000 m2 to create a packaging handling center for a commercial vehicle manufacturer. The… Continue reading Europa Wire: Global Factory Service Specialist Leadec Expands in Western France with New Packaging Handling Center000702
Ford raises full-year guidance after solid earnings beat
Ford Mustang on display at the NY Auto Show, April 6, 2023. Scott Mlyn | CNBC DETROIT — Ford Motor on Thursday raised its 2023 guidance after second-quarter earnings significantly beat Wall Street expectations, boosted by strong pricing and demand for the automaker’s traditional vehicles even as adoption of EVs took hold slower than the… Continue reading Ford raises full-year guidance after solid earnings beat
New R&D hub in Shanghai signals BMW’s China ambitions
BMW’s new research and development center in Shanghai has been put into operation. [PHOTO/CHINA DAILY] BMW Group opened a new research and development facility in Shanghai last week. It is expected to assist the German premium carmaker’s localization strategy in the world’s largest vehicle market. China is home to BMW’s largest R&D system outside of… Continue reading New R&D hub in Shanghai signals BMW’s China ambitions
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July 27 (Reuters) – T-Mobile US (TMUS.O) topped Wall Street expectations for quarterly wireless subscriber additions on Thursday, as cost-conscious customers flocked to its cheaper plans and superior 5G services in a highly competitive market. The U.S. wireless carrier has been taking the lion’s share of subscribers in the last three quarters, thanks to its… Continue reading Untitled
Group Auto Holdings tables £504.2m takeover offer for Lookers
Group Auto Holdings has increased its takeover of Lookers offer to £504.2m. In June Canadian dealer group Alpha Auto Group, a sister company of Group Auto Holdings, tabled a £465m bid for dealer group Lookers. Shareholders rejected the previous offer. Lookers Directors intend to recommend “unanimously” that Lookers Shareholders accept the increased offer. Global Auto… Continue reading Group Auto Holdings tables £504.2m takeover offer for Lookers
XCMG Machinery Forms Strategic Alliances with IBM and SAP to Foster Global Digital and Intelligent Transformation and Drive International Business Growth
XUZHOU, China, July 27, 2023 /PRNewswire/ — XCMG Machinery (“XCMG”, SHE:000425) has officially signed a long-term strategic cooperation agreement with IBM and a memorandum of strategic cooperation with SAP lately to push forward the intelligent and digital transformation of the group to further elevate its competitive advantages in the global market and build a world-class… Continue reading XCMG Machinery Forms Strategic Alliances with IBM and SAP to Foster Global Digital and Intelligent Transformation and Drive International Business Growth
Hanwha Aerospace Selected as Preferred Bidder for Land 400 Phase 3 by Australian Army
SEOUL, South Korea, July 27, 2023 /PRNewswire/ — Hanwha Aerospace announced today that its subsidiary, Hanwha Defense Australia(HDA), has been selected as the preferred bidder for the Land 400 Phase 3 Infantry Fighting Vehicle (IFV) program with the Redback IFV. This program includes 129 vehicles across two variants and will be delivered under an accelerated… Continue reading Hanwha Aerospace Selected as Preferred Bidder for Land 400 Phase 3 by Australian Army