7.91 +0.02 (0.25%)
After hours: 7:35PM EST
|Bid||7.90 x 306000|
|Ask||7.91 x 317700|
|Day's Range||7.89 - 8.03|
|52 Week Range||7.89 - 10.56|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||789.00|
|Earnings Date||Apr 27, 2020|
|Forward Dividend & Yield||0.60 (7.47%)|
|Ex-Dividend Date||Jan 28, 2020|
|1y Target Est||9.33|
(Bloomberg) -- Tesla Inc.’s electric cars raced up Consumer Reports’s latest auto brand rankings, inching closer to leader Porsche.Tesla jumped eight spots -- more than any other brand -- to No. 11 in an annual report based on road tests, reliability data, owner satisfaction surveys and safety performance. Consumer Reports ranked Tesla higher than any U.S. brand and made the Model 3 sedan a top pick for the first time, a designation the nonprofit bestows to only 10 cars, SUVs and trucks per year.“The vehicles perform phenomenally,” Jake Fisher, senior director of automotive testing, said of Teslas in a phone interview. “People just love these vehicles.”The acclaim is a major coup for Elon Musk, who eschews the traditional advertising that costs major automakers billions. Many car buyers consult Consumer Reports for big-ticket purchases because it’s built a reputation for thorough and meticulous testing. The organization buys all the vehicles it tests and doesn’t accept any marketing dollars from manufacturers.The Model 3 didn’t perform as well when it first launched in 2017 because, as with the Model S sedan, Tesla was making regular changes to the car on the fly, Fisher said. While the company made some tweaks using over-the-air software updates, others involved changes to hardware that tend to cause problems with reliability. Those cars have stabilized and continue to help the brand overcome poor scores for the Model X sport utility vehicle.Porsche climbed two spots in the rankings to knock Subaru out of first place, though two of the Japanese brand’s models were top picks: the Forester SUV and Legacy sedan. Toyota Motor Corp. dominated those honors by winning four designations with its namesake models -- the Supra sports car, Avalon sedan, Prius hybrid and Corolla small car -- and one with Lexus for the RX SUV.Hyundai Motor Co.’s Genesis luxury brand finished second, unchanged from a year ago. The Korean brand has been on a roll in several influential surveys, leading J.D. Power’s Initial Quality Study each of the last two years. Its first SUV model, the GV80, goes on sale this summer.“Genesis is a luxury brand that competed extremely well right out of the gate,” Fisher said. “It reminds you of 1989 when Lexus arrived.”Ford Motor Co.’s Lincoln line was the second-best American car brand, placing 13th. U.S. automakers were otherwise relegated mostly to the bottom third of the rankings. The Ford brand fell to 23rd, and General Motors Co.’s Chevrolet and GMC placed 25th and 26th.Cadillac’s continued reliability problems dropped the brand to 29th. The Fiat brand again finished last among 33 brands, while Jeep, the cash-cow brand within Fiat Chrysler Automobiles NV, didn’t fare much better.Owners like Jeep’s styling, but the SUVs continue to have ride, handling and quality issues that contributed to the brand slipping two spots to 31st.“Take the badge off and look what do they do, how do they handle, what’s the reliability,” Fisher said. “They just are not competitive.”To contact the reporters on this story: David Welch in Southfield at email@example.com;Keith Naughton in Southfield, Michigan at firstname.lastname@example.org;Gabrielle Coppola in New York at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, Chester DawsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Ford Motor Co. said it's analyzing the success of a test of digital kiosks at service areas at its dealerships. The automaker (NYSE: F) said a pilot program launched last fall at seven U.S. dealerships resulted in savings of time for customers who used the kiosks. Ford said both indoor and outdoor kiosks at service areas were part of the pilot, and future outdoor kiosks will eventually have the ability to accept and deliver keys.
Ford allegedly confirmed it will step out of the auto show circuit to introduce the long-awaited 2021 Bronco. The off-roader will make its debut during a standalone event scheduled for March, about a month before its smaller sibling — which is tentatively called Bronco Sport — breaks cover at the annual New York auto show. Industry trade journal Automotive News learned from sources who attended Ford's annual dealer meeting that the wait for the born-again Bronco is nearly over.
A U.S. trade panel ruled on an interim basis in favour of South Korean electric vehicle (EV) battery maker LG Chem which had accused crosstown rival SK Innovation of misappropriating trade secrets, LG Chem said on Sunday. LG Chem and SK Innovation have hit each other with U.S. lawsuits for thefts of trade secrets and patent infringements in a bitter row that threatens to disrupt the launches of EVs by some of the world's biggest car makers. The so-called default judgment by the U.S. International Trade Commission (ITC) could potentially mean SK Innovation, as sought by LG Chem, cannot import some battery products, components and materials it may need to supply its U.S. factories for Volkswagen and Ford Motors.
Neighborhood Ford Store launched a technician job training program in Pittsburgh last year, and after success in the local market rolled the program out at colleges and dealerships across the nation this year. The Neighborhood Ford Store is a group of about 85 dealers that do advertising and community fundraising. Joey Thurby, vice chairman of the group, said the group started the recruiting initiative to address a critical need in the job market.
Jim Farley, Ford Motor Company president, new businesses, technology and strategy, and recently elected chief operating officer of Ford, will speak at the Wolfe Research Global Auto, Auto Tech, and Mobility Conference in New York on Wednesday, Feb. 26.
In 2018, Volvo said 50 percent of its cars would be all-electric-powered by 2025. The company’s big push toward electric has appeared a bit bold for a company that came to the electric car business pretty late. Volvo, owned by Chinese company Geely Holding, wants to grow in China, a country making a huge effort to get more electric cars on its roads.
A group aiming to spur climate change legislation that would tax carbon emissions stepped up efforts by issuing a blueprint on Thursday and previewing it with a group of bipartisan U.S. senators earlier this week. The Climate Leadership Council's plan aims to halve carbon emissions by 2035 from 2005 levels with a tax starting at $40 per ton. Council Chairman and Chief Executive Ted Halstead said the group hopes that bipartisan climate price legislation based on the blueprint will be introduced in the U.S. House of Representatives and Senate this year.
South Korean car giant Hyundai Motor has increasingly relied on China to supply auto parts to its manufacturing hub at home in recent years. One of its main suppliers, Kyungshin, which has rapidly boosted capacity in China over the past two decades to capitalise on the country's lower labour costs and proximity to South Korea, has seen its operations hit hard by the epidemic.
Affected vehicles could experience a fractured segment of the rear suspension, which could increase the risk of a crash.
Ford may have started the transition of its ST sub brand with the Edge ST, but the 2020 Ford Explorer ST completes that transition from spunky hot hatches to performance crossovers. Ford’s history of ST-branded cars isn’t eons long, so while we lament the loss of the small performance cars that started it, attaching the badge to an SUV isn’t sacrilege. For the Explorer ST, Ford dropped in a 3.0-liter twin-turbo V6 that produces 400 horsepower and 415 pound-feet of torque.
The recall affects select 2013-18 Ford Flex, Ford Taurus Police Interceptor Sedan, Ford Taurus SHO and Lincoln MKT vehicles.
In case you have been living under a rock or went to another plant, Tesla Inc (NASDAQ: TSLA) has enjoyed one heck of a February following a second straight quarter of profits and an upbeat earnings call. Rivian, Lordstown and Bollinger are set to begin production late this year.
Morgan Stanley analyst Adam Jonas likes what he heard at General Motors' analyst event last week. His most optimistic scenario for the stock would take it to $100, up almost 200%.
The White House budget released on Monday proposed cutting funding for passenger rail carrier Amtrak, while calling for a significant boost in infrastructure spending. The proposal would cut Amtrak funds by more than 50% over 2020 levels. In November, Amtrak said for the year ended Sept. 30, it had set records for ridership, revenue, and financial performance, including 32.5 million customer trips, a year-over-year increase of 800,000 passengers.