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Its name is new, but the 2019 Lincoln Nautilus is really a rebranded, restyled and updated version of the second-generation Lincoln MKX, which has been on sale since 2016. Renaming your bestselling vehicle is risky, but Lincoln has been struggling, and it feels the names of its vehicles are partly to blame. Recall that since 2007, Ford's luxury brand has used letters to name some models, including MKZ and MKX, and traditional names on others like Navigator and Continental.
BANGKOK (AP) — A Thai court has ordered Ford Motor Co. to pay 291 customers a total of about $720,000 in compensation for selling cars equipped with faulty transmissions.
German car parts maker ZF Friedrichshafen is positioning itself to compete against the likes of Tesla Inc. ( TSLA), Ford Motor Co. ( F), and Volkswagen AG in the next generation auto industry with plans to develop a battery-powered van that can drive itself.
Let me stipulate that Tesla (NASDAQ:TSLA) is great, and what it has done is amazing. In less than a decade Tesla has transformed the automotive industry. Its all-electric, high performance cars, designed and built in the USA, outshine anything on the road.
Tesla stock (TSLA) continues to witness high volatility as the third quarter comes to an end. On September 19, the stock increased 4.9% after falling 3.4% in the previous session. The company has seen 12.8% value erosion in the third quarter as of September 19. In comparison, other auto stocks (XLY) including General Motors (GM), Ford (F), and Fiat Chrysler (FCAU) have lost ~9.3%, 11.7%, and 4.7% in the third quarter, respectively.
Have President Trump’s Tactics Started to Yield Results? President Trump announced 10% tariffs on another $200 billion of Chinese goods earlier this week. Meanwhile, China has ruled out currency devaluation amid its trade war with the US.
In week 37, the week ending September 14, Harley-Davidson stock (HOG) fell 0.2% despite the broader market and auto stocks’ (XLY) recovery. Last week, the S&P 500 rose 1.2%, while automakers like General Motors (GM), Ford (F), and Fiat Chrysler (FCAU) gained 2.1%, 1.9%, and 5.7%, respectively. As of September 17, Harley-Davidson stock was hovering in the negative territory on a year-to-date basis with 12.8% losses.
The sexual assault accusation against Supreme Court nominee Brett Kavanaugh is undercutting one of the GOP’s strongest issues for its base and risks further eroding support from women and independent voters who will be crucial to deciding which party controls Congress after the November elections. Republicans have been treading carefully in dealing with the accusation by college professor Christine Blasey Ford that Kavanaugh attacked her while they both were in high school.
A lawyer for the woman who accuses Supreme Court nominee Brett Kavanaugh of sexual assault said Senate Republicans are acting unfairly by forging ahead with a hearing on Monday without looking at other potential witnesses. Senate Judiciary Chairman Chuck Grassley is sticking with his plan to hold the hearing and gave accuser Christine Blasey Ford until Friday morning to submit written testimony. "The committee’s stated plan to move forward with a hearing that has only two witnesses is not a fair or good faith investigation," Ford attorney Lisa Banks said in a statement.
The trade war between the U.S. and China continues to escalate, with Beijing set to impose tariffs on $60 billion in U.S. imports in response to the Trump administrations' new set of tariffs on $200 billion in Chinese imports. Despite the mounting pressure on companies in the world's two largest economies, some firms and their products appear to be safe.
Sen. Chuck Grassley says he wants Dr. Ford to testify in an open or closed session or in public or private interviews: "That's 4 different ways she can choose to come" (Source: Bloomberg)
In the week ending September 14, Ferrari (RACE) stock turned positive after posting losses the previous week. Last week, Ferrari rose 4.2% after losing 3.2% the previous week. In August, Ferrari stock continued to trade on a weak note for the second consecutive month. As of September 17, the stock has risen 9.9% in the past month.
The stock has been on a roller coaster ride in 2018. The fluctuations have been due to investors’ close attention to Tesla Model 3 production updates and CEO Elon Musk’s bid to privatize the company. In the third quarter, Tesla has fallen 14.0% as of September 17.