13.72 +0.11 (0.81%)
Pre-Market: 7:22AM EDT
|Bid||13.62 x 3200|
|Ask||13.74 x 2900|
|Day's Range||13.59 - 13.74|
|52 Week Range||12.58 - 19.57|
|Beta (3Y Monthly)||1.70|
|PE Ratio (TTM)||5.87|
|Forward Dividend & Yield||0.73 (5.34%)|
|1y Target Est||20.04|
Renault is confident that alliance partner Nissan's new board will work to reinforce their partnership as it struggles to turn the page on the Carlos Ghosn scandal, Renault Chairman Jean-Dominique Senard said on Thursday. Nissan shareholders last month approved the appointment of a new board at the Japanese carmaker with a more international profile as well as Senard and his Renault Chief Executive Thierry Bollore. "There is a change," Senard told reporters in a briefing at Renault headquarters.
The Business Journal has learned that the joint venture on Wednesday told the team it plans to shut down ReachNow completely.
(Bloomberg) -- Renault SA will invest 128.5 million euros ($144 million) for a 50% stake in a venture with Jiangling Motors Corp. to develop electric vehicles in China, part of a push by the French company to make further inroads into the world’s biggest car market.The Chinese entity was created in 2015 and already holds certification to manufacture battery-electric passenger cars, according to a statement from Renault Wednesday. It aims to grow quickly and become a “prominent player” in the market.“This partnership in electric vehicle business with JMCG will support our growth plan in China and our EV capabilities,” Francois Provost, head of the China region at Renault, said in the statement. The venture will help Renault expand its electric capabilities beyond a production agreement with longstanding partner Nissan Motor Co. and Dongfeng Motor Corp., a spokeswoman said.Renault, which has so far had a limited presence in China, is moving forward with an electrification strategy that includes a new battery-powered car slated to go on sale in the Asian country this year. The company also plans to make hybrid versions of three existing models. Global automakers have been expanding cooperation with new-energy vehicle producers in China to meet government regulations on fuel consumption that were put in place this year.Renault’s move to expand further in China outside the Nissan-Dongfeng venture comes amid a crisis in its two-decade partnership with the Japanese company. Nissan has resisted merger overtures from Renault and withheld support for the French company’s failed plan to combine with Fiat Chrysler Automobiles NV.Renault also has plans to invest more than 1 billion euros to boost its production of electric cars in France -- a move that was aimed at smoothing relations with the French government, its biggest shareholder. Carmakers are spending billions of dollars to shift to battery-powered vehicles from diesel engines as the industry responds to a tightening of European emissions rules.(Updates with comments from Renault in third and fifth paragraphs.)\--With assistance from Tian Ying.To contact the reporters on this story: Tara Patel in Paris at email@example.com;Ania Nussbaum in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Palazzo at email@example.com, Tara Patel, Christopher JasperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Goldman Sachs initiated coverage of European auto makers on Tuesday, outlining the challenges it sees them facing. It recommends selling Fiat Chrysler and Daimler.
The UAW and General Motors Co on Tuesday formally kicked off contract talks, with the union's president calling on the automaker to keep open plants it has slated for closure and to invest in its workforce after the union helped it through a government-led bankruptcy a decade ago. "We invested in you, now it's your turn to invest in us," United Auto Workers' President Gary Jones said at a joint event with GM executives in downtown Detroit. This year's talks on a new four-year contract between the union and the Detroit automakers are expected to be contentious, as U.S. auto sales are slowing after a long boom.
Shares of Fiat Chrysler Automobiles NV fell Tuesday after Goldman Sachs initiated coverage with a sell recommendation. Analysts said they saw "limited scope for further earnings growth from North America" and challenges for other parts of the business. In addition, they said their own earnings estimates are 5% below the current consensus on Wall Street.
With enough Wrangler JL in it to appeal to Jeep’s more steadfast consumer base, the Gladiator is aesthetically everything the pickup needs to be, writes Eileen Falkenberg-Hull.
The head of the labor union representing most hourly workers at the U.S. automakers struck an adversarial tone on Monday, vowing in likely contentious talks for new four-year deals that they want to share in the companies' profits. Rising healthcare costs, job security and the use of temporary workers are also expected to be major sticking points.
Auto stocks raced higher Friday, which could drive additional gains this week. Trade the industry's key players using these tactics.
The United Auto Workers and Ford Motor Co will officially launch talks on a four-year contract on Monday that are expected to be contentious, with rising healthcare costs, job security and the use of temporary workers expected to be major sticking points. General Motors Co and Fiat Chrysler Automobiles NV (FCA) will kick off their own talks with the UAW on Tuesday. When the negotiators for the union and Detroit's automakers last sat across the table from each other in 2015, U.S. new vehicle sales were booming.
The head of the labor union representing most hourly workers at the U.S. automakers struck an adversarial tone on Monday, vowing in likely contentious talks for new four-year deals that they want to share in the companies' profits. "With this year's negotiations, we will halt that race to the bottom," Jones said at the event at the Dearborn, Michigan, headquarters of the No. 2 U.S. automaker. General Motors Co and Fiat Chrysler Automobiles NV (FCA) will kick off their own talks with the UAW on Tuesday.
Zacks.com featured highlights include: Stryker, T. Rowe, Applied Materials, Fiat and Northrop
Tesla (NASDAQ:TSLA) looks poised to ramp up again soon. The Palo Alto, California-based electric vehicle (EV) firm recently reported a record quarter in terms of cars built. Now, it looks poised to resume hiring and take production to record levels. This has sent TSLA stock more than 23% since early June, compared to a 8.9% gain in the Nasdaq Composite index.Source: Shutterstock Although risks remain, the company has positioned itself not only to return to profitability but also to bring itself further into the mainstream as it takes Tesla stock back to all-time highs and beyond. More Workers Making More CarsTSLA moved higher in Wednesday trading following a release by Bloomberg of an internal email that told employees that the EV maker is "making preparations" to increase production at its Fremont, California assembly plant following a quarter of record deliveries.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Best Stocks for 2019: A Volatile First Half Despite job cuts in recent months, Tesla has begun to increase hiring both in Fremont and at its Nevada battery factory. This comes on the heels of a report that the company produced 95,200 vehicles in the second quarter. Of those, 77,550 of the deliveries were Tesla's lower-cost Model 3. Between these improvements and the construction of its factory in Shanghai, Tesla is poised to grow beyond the estimated 400,000 deliveries it expects to make this year. Still, this meant sales of the pricier Model S and Model X have declined. That slippage is creating profitability concerns among some investors. Estimates Again Moving HigherHowever, for the first time in months, the profit outlook has improved. After months of declining estimates, consensus losses for 2019 rose to $1.68 per share, up from a loss of $1.79 per share estimated last week. For 2020, profit estimates now stand at $5.05 per share, up six cents per share from last week's consensus estimate.This 2020 profit estimate gives TSLA a forward price-to-earnings (PE) ratio of around 46.5. Analysts also project that profit growth will average 114.3% per year over the next five years. If these numbers can hold, I think Tesla stock can move much higher.Moreover, the company expects to open its Gigafactory 3 in China late this year. They plan to produce about 150,000 next year in the factory's first phase. As InvestorPlace contributor Faisal Humayun wrote recently, this new factory will produce the Model 3 at a 50% lower cost. That would also make Tesla much bigger in China than homegrown electric cars such as Nio (NYSE:NIO). Don't Ignore Tesla Stock RisksStill, investors should remain mindful of risks. The current economic expansion has entered its 11th year, with recession talk getting louder every day. Also, Tesla's $42 billion-plus market cap takes it ahead of Ford (NYSE:F) and Fiat Chrysler (NYSE:FCAU) and fueling valuation concerns. Moreover, the trade war between the U.S. and China lingers on; Gigafactory 3 will mitigate the direct effects on TSLA. However, the economic slowdowns that come with trade wars could affect sales.Then there's Tesla's unique risk factor: The eccentric behavior of CEO Elon Musk. As recently as a few months ago, profitability had slipped away, and Mr. Musk cut the size of his workforce. Reversing course so quickly may have inspired investors. However, the continued course corrections don't breed feelings of stability. * 7 Retail Stocks to Buy for the Second Half of 2019 Still, with production levels set to reach 500,000, Tesla has shown that it will probably not become the next DeLorean Motor Company or Fisker Automotive. With its massive growth and viable path to profitability, TSLA looks poised to set new highs sooner rather than later. Bottom Line on TSLA StockAlthough risks remain, TSLA stock looks poised to continue its recovery. As recently as a few months ago, Tesla appeared troubled as its prospects to earn a profit melted away, and the company began to let workers go.However, record auto production and a signal that Tesla will ramp up both production and hiring have brought new optimism. Moreover, the new factory in Shanghai will likely help Tesla side-step the trade war and bring a record number of cars to market. Yes, either the economy or the mood of Mr. Musk could derail this move higher. However, if the company can live up to analyst expectations, TSLA stock has nowhere to go but up.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell for an Economic Slowdown * 7 Marijuana Penny Stocks That I May Buy * 7 of The Best Schwab ETFs for Low Fees The post Investors Mull Tesla Stock Buy as Production, Hiring and Sales Rev Up appeared first on InvestorPlace.
(Bloomberg) -- A long history of failed automotive mergers and tie-ups -- from Daimler-Chrysler, to GM-Fiat and BMW-Rover -- used to be reason to doubt that combinations or partnerships between big carmakers were a good idea.But as the world’s biggest manufacturers anticipate an age of increasingly electric, autonomous and shared vehicles, they’re increasingly becoming bedfellows.Volkswagen AG and Ford Motor Co. have scheduled a press conference in New York on Friday after months of talks about joining forces to develop self-driving and electric vehicles. Aligning with one another in the burgeoning fields would build on an existing partnership to work together on commercial vans and trucks.The expanding alliance between the world’s No. 1 and America’s No. 2 car companies is only the latest example of the auto industry giants joining forces to cope with the transformation sweeping their industry. The transition is going to be costly: Since 2010, more than $14 billion has been invested in autonomy and mobility technologies, according to BloombergNEF.“BMW and Daimler are pairing up and matching up on their autonomous-vehicle program, as are Toyota and Uber, and you’ve seen GM and Honda, and now VW and Ford,” said Mike Ramsey, an automotive consultant at Gartner Inc. “That leaves Hyundai and Kia hunting around desperately for partners. And then the remainder, like FCA and PSA.”Here’s a rundown of some of the most noteworthy tie-ups of the last few years among the world’s leading automakers:BMW-Daimler DealsBMW AG and Daimler AG vowed earlier this month to team up on developing cars capable of traversing highways without human intervention starting in 2024. While drivers will remain behind the wheel, the companies said their vehicles will be able to navigate highways and park on their own.The luxury-auto arch rivals also agreed to pour more than 1 billion euros ($1.1 billion) into the car-sharing and ride-hailing businesses they combined to form one joint venture earlier this year to compete with the likes of Uber Technologies Inc. and Lyft Inc.Fiat’s Renault FlirtationFiat Chrysler Automobiles NV -- already an Italian-American amalgam -- pursued a merger with Renault SA earlier this year, though the potential deal abruptly collapsed last month due to the French state’s intervention and concern about the implications for Renault’s existing alliance with Nissan Motor Co. and Mitsubishi Motors Corp.Still, it may be too soon to write off the idea. Renault and French Finance Minister Bruno Le Maire have said talks with Fiat Chrysler could resume once the Renault-Nissan alliance is on firmer footing. Fiat Chrysler Chairman John Elkann told Italian newspaper La Stampa this week called the attempt to merge with Renault an “act of courage.”BMW’s Other BlocsNearly two years before Fiat Chrysler’s merger proposal with Renault, the company entered a coalition led by BMW that’s creating an autonomous-vehicle platform slated to be launched in 2021. Other members of the collaboration include Intel Corp., Aptiv Plc, Continental AG and Magna International Inc.And that’s not all for BMW. Jaguar Land Rover announced in June it will team up with the German automaker to work on its fifth generation of electric-drive technology, which is set to roll out next year with an electric X3 crossover.Daimler Joining GeelyDaimler decided earlier this year to transform Smart, its struggling small-car division, into an all-electric brand rooted in China with the help of its largest shareholder, Zhejiang Geely Holding Group.The two groups also agreed last October to enter China’s ride-hailing and car-sharing business by forming a 50-50 venture. They plan to levereage models including the Mercedes-Benz S-Class and E-Class and the ultra-luxury brand Maybach to battle market leader Didi Chuxing.Honda Hitching RidesEven Honda Motor Co. has pivoted from the go-it-alone approach that it stuck to for decades. The Japanese automaker joined an existing venture between Toyota Motor Corp. and SoftBank Group Corp. earlier this year.Last fall, Honda committed to investing $2.75 billion in General Motors Co.’s Cruise self-driving unit. The two already were working together on electric-vehicle batteries and hydrogen fuel cell systems.Toyota’s Electric-Car CooperationToyota, whose battery-powered RAV4 partnership with Tesla Inc. ended up being a short-lived clash of polar-opposite business cultures, entered another electric-vehicle alliance in 2017 with Mazda Motor Corp.Months after announcing the Mazda pact, Toyota added Suzuki Motor Corp. to the mix, with the two saying they plan to bring electric vehicles to China and India beginning in 2020. And in June, Toyota added Subaru Corp. to its stable of EV partners.\--With assistance from Keith Naughton.To contact the reporter on this story: Kyle Lahucik in Southfield at firstname.lastname@example.orgTo contact the editor responsible for this story: Craig Trudell at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fiat Chrysler (FCA) plans to invest 700 million euros ($788 million) in an electric makeover of its iconic Fiat 500, a top executive said on Thursday, as the automaker seeks to move on from its failed bid to merge with France's Renault. FCA chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced the investment - the Italian-American company's biggest single bet on an electric vehicle - at its Mirafiori plant in Turin, northern Italy. "The plan is confirmed," Gorlier told reporters, when asked if FCA's investment in electric vehicle technology would remain unchanged after its $35 billion plan to merge with Renault, an electric car pioneer, collapsed last month.
AUBURN HILLS, Mich., July 11, 2019 /PRNewswire/ -- The Dodge brand and The Struts (Interscope Records) are teaming up as part of a new summer advertising campaign launching across television, social and digital channels this week. The band's recently released rendition of "Dancing in the Street," which can be downloaded/streamed here, adds fuel to the Dodge brand's summer campaign, which includes pitting The Struts band members – Luke Spiller, Adam Slack, Jed Elliott and Gethin Davies – against each other on the race track in a 2019 Dodge Challenger R/T Scat Pack 1320.
ROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company.
Fiat Chrysler (FCA) plans to spend 700 million euros ($788 million) to take the Fiat 500 electric as the carmaker moves on from its failed $35 billion bid to merge with France's Renault, a pioneer in electric vehicles. FCA chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced the Italian-American company's biggest single bet on an electric vehicle at its Mirafiori plant in Turin, northern Italy on Thursday.
Fiat Chrysler (FCA) plans to spend 700 million euros ($788 million) to take the Fiat 500 electric as the carmaker moves on from its failed $35 billion bid to merge with France's Renault , a pioneer in electric vehicles. FCA chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced the Italian-American company's biggest single bet on an electric vehicle at its Mirafiori plant in Turin, northern Italy on Thursday. FCA's investment is part of a plan announced last year to spend 5 billion euros in Italy up to 2021.
The merger proposal made by Fiat Chrysler (FCA) to Renault in May was an "act of courage" but the Italian-American carmaker felt the conditions were not right to go ahead, FCA Chairman John Elkann told La Stampa newspaper. Last month, FCA pulled the plug on its proposed merger with Renault, saying negotiations had become "unreasonable" due to political resistance in Paris.