|Bid||0.00 x 1300|
|Ask||0.00 x 900|
|Day's Range||35.01 - 35.79|
|52 Week Range||30.56 - 45.52|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||68.49|
|Forward Dividend & Yield||1.52 (4.16%)|
|1y Target Est||N/A|
The auto industry fears that new tariffs, on top of those already enacted on Chinese-made vehicles and imported aluminum and steel, could have a major negative impact on the American new car market. Consumers could be hit with higher prices that would put the brakes on already declining car sales, hammering industry profits.
For the better part of the past 40 years, design work has mostly been done by machines—from wind tunnels to computers—as manufacturers have struggled to meet fuel-economy standards and safety regulations. The first, and probably last, of the American dream machines were created by the great Harley Earl. From the 1920s to the 1960s, Earl conjured up compelling designs that put Motor City on the map and left the public eager for the next year’s models.
Ford Motor Company (F) sold about 58,204 vehicle units in China in October, which suggests a massive drop of about 45% from October 2017. In September, the company’s Chinese sales were higher than October at 64,383 vehicle units, but they fell 43% YoY (year-over-year). Ford’s Chinese market sales fell ~31% YoY to 642,593 units in the first ten months of 2018.
September was the fourth consecutive month and the fifth month in 2018 so far when China’s vehicle sales dropped year-over-year. They fell 11.1%, 4.0%, 3.8%, and 11.6% year-over-year in February, July, August, and September, respectively. Many observers have partly blamed high tariffs on US-manufactured vehicles in China for the weakness in China’s sales.
On November 14, Warren Buffett’s Berkshire Hathaway revealed in its 13F filings that the company added more General Motors (GM) shares to its portfolio. In the third quarter, Berkshire Hathaway bought ~1.06 million shares of the largest US automaker (XLY) after adding ~1.4 million shares in the second quarter. Berkshire Hathaway’s total stake reached 52.46 million shares in the third quarter—compared to 51.39 million shares in the second quarter.
Buick is planning a refreshed version of its LaCrosse full-size sedan for the Chinese market, judging by these photos discovered by the site Auto Verdict on a Chinese government site used to certify upcoming new models.
Plug-in hybrids seem to have it hard at Cadillac. First there was the ELR flop, and now Cadillac is killing off the CT6 Plug-in Hybrid. The news of the hybrid's demise was first broken by GM Authority, and we received a statement from Cadillac confirming that it would be discontinued.
Inteva Products LLC announced plans to expand its engineering technical center in Vandalia, investing $33 million in a research and development facility and adding 35 new jobs.
Moody's Investors Service ("Moody's") has assigned definitive ratings to the notes issued by GMF Canada Leasing Trust Series 2018-1 (GC0LT 2018-1). Moody's expected median cumulative net credit loss expectation for GCOLT 2018-1 is 0.50% and the Aaa level is 21.50%.
Chevrolet is bringing the Monza name back for a midsize sedan with "dynamic design that inherits the brand's sporty DNA." This sedan is set to debut at the Guangzhou Auto Show in China, but Chevy dropped a teaser of the front end today. This Monza's hood looks to be relatively muscular, helping feed into the sporty design.
In the previous part of this series, we discussed how Wall Street analysts rate the top two US auto giants—Ford (F) and General Motors (GM). Analysts’ next 12-month consensus target price for Ford reflects a minor upside potential of only 3.7% from its market price.
According to the latest data compiled by Reuters, 19% of the analysts covering Ford stock (F) gave it a “buy” rating. In comparison, ~57% of the analysts covering General Motors stock gave it a “buy” rating. The ratings were based on the consensus of 21 analysts covering Ford and General Motors as of November 13.
General Motors (GM) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
In October, Ford Motor Company (F) sold ~67,554 SUV (sports utility vehicles) units with 6.7% YoY (year-over-year) gains. In contrast, the sales in the company’s truck segment fell 4.9% to 88,725 units in October from 93,248 units sold in October 2017.
After struggling during the summer, the outlook for Tesla (NASDAQ:TSLA) stock has dramatically improved. With the company reporting a quarterly profit, and CEO Elon Musk out as chairman, optimism has returned. Tesla stock has risen by over 17% since the Oct. 24 earnings report.
Ford is in talks with rivals about investing “billions” in Argo AI, its self-driving vehicle unit, echoing General Motors in its attempts to tap outside investors for funding. Bryan Salesky, Argo’s chief executive, told the Financial Times that the company was seeking “billions of dollars” to help in the development of autonomous vehicles. “We are definitely talking to other potential customers, OEMs [carmakers], we are talking to more than one,” Mr Salesky told the FT, whilst stopping short of confirming that one of the companies was Volkswagen.
Ford, Walmart and Postmates will test grocery deliveries via self-driving cars. It's a "safe bet" for Ford that may pay off, an analyst said.
In October, Ford Motor Company’s (F) F-Series truck sales in the United States were at 70,438 units—an ~7.3% sales decline on a YoY (year-over-year) basis. In September, 75,092 units of F-Series trucks were sold in the United States—down 8.8% YoY. Until August, the F-Series sales in the United States rose for 16 consecutive months on a YoY basis. In August, it was also the best August month for F-Series sales since 2005.
Ford Motor Company (F) sold 192,616 vehicle units in the US market in October. The data reflected a 3.9% decrease from its US sales of 200,436 units in the same month the previous year. In the previous month, the company reported an 11.2% YoY (year-over-year) fall to 197,404 units. Ford’s October sales were higher than Toyota’s (TM) US sales of 191,102 units and Fiat Chrysler’s (FCAU) sales of 177,391 units.
Armed with $9 million in recent financing, a Durham-based company has launched a new initiative, teaming up with big-name automotive brands on a technology feature that gives technicians access to your vehicle – no key required.