|Bid||9.00 x 45900|
|Ask||9.01 x 40000|
|Day's Range||8.96 - 9.12|
|52 Week Range||8.16 - 10.56|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||22.50|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Spin, a unit of Ford Motor Co., is increasing its black-and-orange scooter fleet in Phoenix to 900 scooters, tripling from the initial 300 it launched in September.
The next five years could get rough for companies that have a record amount of junk-rated corporate loans and bonds coming due, warns Moody’s Investors Service.
Ford and GM are part of the traditional Detroit-based "commodity auto business" and it's unfair to compare the two with Tesla, Cramer said Wednesday on "Mad Money." Instead, Tesla is a tech company on wheels and its home base in Silicon Valley speaks to its disruption status.
While Ford's (F) Q4 results are likely to be hit by a pre-tax charge of $2.2 billion, Fiat Chrysler (FCAU) teams up with Foxconn to develop EVs in China.
The charge is largely related to a drop in discount rates, the company said, as that leads to an increase in the amount of money to be contributed for future pension benefits. On an after-tax basis, the loss is expected to reduce Ford's net income by about $1.7 billion in the fourth quarter.
Ford Motor Co said on Wednesday its fourth quarter results will be hit by a pre-tax loss of about $2.2 billion due to higher contributions to its employees pension plans. The charge is largely related to a drop in discount rates, the company said, as that leads to an increase in the amount of money to be contributed for future pension benefits. On an after-tax basis, the loss is expected to reduce Ford's net income by about $1.7 billion in the fourth quarter.
Ford Motor Co. said late Wednesday it expects to take a fourth-quarter pre-tax charge of $2.2 billion related to pension obligations that will cut down on its net income. After taxes, the $2.2 billion loss is expected to slash Ford's net income by about $1.7 billion, Ford said in a filing. As it is a special item, the loss will not impact adjusted profit or adjusted per-share profit, the car maker said. It also did not have an impact on the company's cash in 2019, and does not change its expectations for pension contributions this year, Ford said.
(Bloomberg Opinion) -- The world’s largest car market is cratering and there are few signs of a recovery. It was never supposed to get this bad — and even if it got close, a helping hand from Beijing would steer things out of any prolonged trouble. Or so people thought... Instead, passenger car sales in China fell 9.5% last year, more steeply than the 4.3% in 2018, which was the first annual sales decline in over a decade. The drop has dragged down the global automobile industry and its deep supply chain. That leaves automakers in limbo. After years of relying on the Chinese market for its double-digit volume growth, they don't seem too sure about whom to build cars for, or what kind. Beijing’s lackluster stimulus last year included a grab-bag of measures: removal of car-purchase limits, support for buying electric cars and incentives to build infrastructure like rural gas stations. They haven't done much to revive demand. Consumers were waiting for more, which simply led to a steeper slide in sales. With no new sweeteners and the distortions of past stimuli fading, a real picture of demand is emerging. It’s nuanced. There are fewer first-time buyers, and more who are purchasing replacement vehicles. They’re increasingly looking to upgrade, and also buying more used cars. In a word, consumers are being more discriminating.Luxury carmakers account for around 15% of the market and are doing better than the rest. Porsche Automobil Holding SE, for instance, delivered 86,752 vehicles to customers in China last year, up 8% from 2018. In December, BMW Brilliance Automotive Ltd.’s average daily vehicles sales rose 21% on the year, up from 5% in November. Down the food chain, buyers of family-friendly cars are upgrading. Demand for sports utility vehicles and sedans remains depressed but is shifting toward higher-end, in-between cars, according to analysts at Goldman Sachs Group Inc. Buyers of these so-called multi-purpose vehicles, or MPVs, have long bought the same few basic models, priced between 40,000 yuan ($5,800) to less than 100,000 yuan. As the market was flooded with SUVs, aspirational buyers stayed away. Now, manufacturers are improving design and comfort, and raising prices.A slew of MPV models will be released this year. Going by low discounts compared to the rest of the market, demand remains sturdy. Goldman’s analysts estimate that in every 1% of demand that moves to the higher-end MPVs lies an annual revenue opportunity of almost 50 billion yuan ($7.25 billion). Here’s the hard reality: The double-digit growth days of selling nearly 25 million cars a year are vanishing in the rearview mirror. So are outsize profits from China. Much like the U.S. market, the type of demand will evolve and how people get around will change. Younger Chinese are more inclined to use ride-hailing services. The older people get, the less likely they’ll obtain driving licenses. China’s population is aging rapidly. This is a structural slowdown.In theory, China has plenty of room to sell more cars. Penetration rates are low and so is the national percentage of licensed drivers. The carmakers are banking on semi-urban China, ostensibly the most upwardly mobile consumers. But sales are unlikely to top 20-some million a year, even with the push toward electric vehicles (only 5% of cars sold now) and regulations that will eventually force buyers to go green. For now, higher technology only raises the cost of car ownership out of reach.The market is oversupplied, no doubt. The good news is that inventories are coming down as automakers try to stay in the black. Toyota Motor Corp. has increased the types of models it sells in China and gained market share. As weaker players drop out and the industry consolidates, the likes of Honda Motor Co. and Volkswagen AG are taking a bigger piece. Failure to rigorously manage output will mean a pile of clunkers. Changan Ford Automobile Co. is sitting on some of the highest levels of inventory, as is SAIC General Motors Corp.’s Baojun. GM continues to lose market share. Ford Motor Co. said last week that its sales in China dropped 26% in 2019. European carmakers have also struggled. Making money by churning the assembly lines won’t cut it anymore. The China Road to success is a lot narrower. Only the companies that drive it smarter will survive. To contact the author of this story: Anjani Trivedi at firstname.lastname@example.orgTo contact the editor responsible for this story: Patrick McDowell at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. She previously worked for the Wall Street Journal. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Tesla shares jumped to $586.35 Wednesday afternoon, giving the auto maker a market value of about $106 billion and leaving previous No. 2 Volkswagen in the dust.
Ford Motor Co. said in a regulatory filing it plans to take a $2.2 billion charge in the fourth quarter related to pension costs that will cut net income by about $1.7 billion for the period. Shares of Ford edged up in after-hours trading, gaining 1 cent to $9.17.
Companies with strong cash flow compared to their market value seem like a good bet, Jefferies says, considering the current market conditions.
Two startups aiming to get Austinites around town better — Good Apple and Tappy Guide — will split $150,000 in prize money from Ford and the city of Austin.
The EV momentum is expected to reach a new level in 2020 with various attractive, long-range and affordable vehicles coming up this year.
For years, The Brumos Collection was kept private and stored in spare space at the Brumos car dealerships in Jacksonville, Florida. The Brumos Collection, now its own experience, is housed in a building modeled after an old Ford plant and features Steve McQueen's Porsche 917K from Le Mans, a 1914 Peugeot L45, and a Porsche 917-10, among others.
Tesla Inc (NASDAQ: TSLA) deserves credit for building an "iconic brand" for electrification and investors have reason to be optimistic, former Ford (NYSE: F) president and CEO Mark Fields said Tuesday on CNBC. Tesla investors are in a position where they can "stand back" and take advantage of favorable trends, Fields said. Fields served as CEO of Ford from 2014-2017.
The collector car world is racing to London this April for the chance to buy rare and historic Buggati and Aston Martin automobiles that promise to outperform recent sputtering sales.
Ford Motor Co. (NYSE:F) has earned an A-list distinction with CDP, a global environmental impact nonprofit, for its green initiatives. The initiatives include a more than $11.5 billion investment in electric vehicles, including all-electric versions of its Mustang Mach-E and F-150 to be released later this year and into 2021, respectively. The company was additionally recognized for its actions to develop the low carbon economy and its aspiration to power all its manufacturing facilities with 100% renewable energy by 2035.