Interesting Car/Truck Manufacturer News

Weather Man

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Ford seen struggling to return to +10% margins
Sep. 1, 2020 8:12 AM ET|About: Ford Motor Company (F)|By: Clark Schultz, SA News Editor


UBS weighs in on reports that Ford (NYSE:F) plans to cut more jobs in North America at the salaried level.

"The announced headcount reductions are aimed at improving the automaker’s efficiency. Ford cut 7,000 salaried positions worldwide last year in the first round of the global restructuring. Those reductions were expected to save the OEM ~$600m/year; with a global workforce of 190,000 for FY2019. Depending on prevailing market conditions, we note the possibility further adjustments may be considered in NA operations."

UBS expect the new normal US SAAR in 2021 to be more than 10% below the 2019 level. While Ford is seen delivering an improved product mix and higher net pricing next year on the launch of the new F-150 truck generation, increased competition and the arrival of Tesla's Cybertruck are called potential turning points in the segment.

"F's NA margins were already well below the envisaged 10% level before the pandemic, and we don’t see the company returning to this level any time soon. We continue to prefer GM over F on better execution, a more aggressive EV strategy and a better performing non-US business."
 

Weather Man

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Am I the only one who barfs a little any time they read crap about EV's? I don't care how fast your Tesla is or how efficient your Nissan Leaf is; I'm not interested. I like my vehicles to have a soul.

I was posting the EV news in another thread, but their is an avalanche of product in the pipeline and governments worldwide will make the switch inevitable, sad to say.
 

DSG2003Mach1

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Am I the only one who barfs a little any time they read crap about EV's? I don't care how fast your Tesla is or how efficient your Nissan Leaf is; I'm not interested. I like my vehicles to have a soul.

I can see their appeal for a daily a to b but I'd need something some soul for a fun car
 

TerminatoRS

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I was posting the EV news in another thread, but their is an avalanche of product in the pipeline and governments worldwide will make the switch inevitable, sad to say.

Yeah I think we all know it deep down. I'm hoping I'm dead before we're all forced to be the Jetson's.
 

railroad

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I may be missing the point of the thread, but got an eye opening with the reduced traveling due to the virus.
I was shocked to read reports of the improvements in air quality.
Now I am reading how EVs are making impressive advances in performance, cost and endurance.
The benefits seem good for all.
I live in a rural area and EVs do not meet my travel distance requirements, but those that travel short distances to function, it might be their answer.
If so, it frees up more gasoline for me, reduces air pollution and reduces demand for the GT500's and C8s.
I see a drop in price of the performance gasoline engines in the middle of the transition and then an increase as they become low quantity production.
I will probably be out of the market by then. JMO
 

blk02edge

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Yeah I think we all know it deep down. I'm hoping I'm dead before we're all forced to be the Jetson's.
That shits happening fast... Tech is exponentially rising along with green policy. At 30 years old Im well aware I am doomed. I have no issue with green vehicles for city commuters though.

What scares me is automation and the fact that the large majority of the human race will be out jobs because robots>humans. Weird times acomin'
 

TerminatoRS

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That shits happening fast... Tech is exponentially rising along with green policy. At 30 years old Im well aware I am doomed. I have no issue with green vehicles for city commuters though.

What scares me is automation and the fact that the large majority of the human race will be out jobs because robots>humans. Weird times acomin'

I'm 35 so maybe I'll have to take up smoking or do some more skydiving to speed up the process. lol I don't want to take a Johnny Cab everywhere I go.
 

blk02edge

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I'm 35 so maybe I'll have to take up smoking or do some more skydiving to speed up the process. lol I don't want to take a Johnny Cab everywhere I go.
It's why I'm at the race track driving race cars and shifter karts as much as humanly possible... One of these days a brake line may fail and I'll be leaving this democrat disease ridden world behind! Lol.
 

Turkey_Lurker03

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LOL on the Johnny Cab!
aed892e19649f16a736e09f4f55b373e.jpg
 

CobraBob

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I was posting the EV news in another thread, but their is an avalanche of product in the pipeline and governments worldwide will make the switch inevitable, sad to say.
I have to agree with you. It will be inevitable, and a sad day. Many will have "adjusted" to the color green, just like many have adjusted to the Covid-19 restrictions. For me, EV just isn't an option that excites me, no matter how quick Teslas are. The eerie silence would never give me the driving pleasure I get from gas V8s or turbo-twinturbo V6s.
 

Weather Man

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Is the USA an important S class market?

S-Class to the rescue for Daimler?
Sep. 2, 2020 11:54 AM ET|About: Daimler AG (DDAIF)|By: Clark Schultz, SA News Editor


Daimler (OTCPK:DDAIF) hopes to steer into profitability with the launch of its new Mercedes-Benz S-Class luxury sedan.

The German automaker is hoping that the pandemic downturn won't sap demand for the important model.

"The S-Class is an important driver of image and, measured by margin, the largest source of profits," notes Norddeutsche Landesbank analyst Frank Schwope.

Separately, Bank Mainfirst analyst Daniel Schwarz estimates Daimler could sell 95K S-Class cars in 2021, which could contribute more than €2B to the automaker's results.

The S-Class competes with BMW's 7 Series and Audi's A8.
 

Weather Man

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Ford to downsize 1,400 US jobs through buyout
Sep. 2, 2020 10:31 AM ET|About: Ford Motor Company (F)|By: Niloofer Shaikh, SA News Editor


Ford (F +0.2%) is targeting to eliminate 1,400 U.S. salaried jobs by year end as part of a multiyear $11B restructuring, reported Reuters.

The layoffs will be achieved through voluntary buyouts to employees who are eligible for retirement.

“We’re in a multiyear process of making Ford more fit and effective around the world,” Ford’s Americas President Kumar Galhotra said in the email. “We have reprioritized certain products and services and are adjusting our staffing to better align with our new work statement.”

As announced earlier, COO Jim Farley will succeed Jim Hackett as CEO on October 1.

Previously: Ford to trim 1K North America salaried jobs - Bloomberg (Aug. 31)
 

CobraBob

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1,400 destined for early retirement. Hope their buyouts are fair.

Any non-U.S. jobs on the chopping block?
 

Weather Man

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GM and Honda look to share more costs under new alliance
Sep. 3, 2020 8:20 AM ET|About: General Motors Company (GM)|By: Clark Schultz, SA News Editor


Extending on a long relationship, General Motors (NYSE:GM) and Honda (NYSE:HMC) inked a non-binding memorandum of understanding following extensive preliminary discussions toward establishing a North American automotive alliance.

Striking substantial cost efficiency benefits is one the major goals of the alliance.

The scope of the proposed alliance includes a range of vehicles to be sold under each company's distinct brands, as well as cooperation in purchasing, research and development and connected services. Under the proposed alliance, Honda and GM would also collaborate on a variety of segments in North America, intending to share common vehicle platforms.

Co-development planning discussions will begin immediately, with engineering work beginning in early 2021.

The announcement builds on the agreement signed between the companies in April to jointly develop two all-new electric vehicles for Honda based on GM's highly flexible global EV platform powered by Ultium batteries.

"Given our strong track record of collaboration, the companies would realize significant synergies in the development of today's vehicle portfolio," says GM President Mark Reuss.
 

Weather Man

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Jeep Grand Wagoneer
Sep. 3, 2020 11:01 AM ET|About: Fiat Chrysler Automobiles... (FCAU)|By: Clark Schultz, SA News Editor


Fiat Chrysler Automobiles (FCAU +1.1%) unveiled the highly-anticipated Jeep Grand Wagoneer SUV at a media event today.
saupload_jeep.jpg


The new three-row model is drawing some notice for its +$100K price at the top end as the model competes with the Cadillac Escalade, Land Rover Range Rover and other premium SUVs.

"It’s clearly the return of a premium American icon," state Jeep execs. The automaker hopes the Wagoneer will expand to become a portfolio of vehicles that will "redefine American premium while delivering a unique customer experience."

Jeep did not reveal many specific details about the model, which is expected to begin production in 2021.
 

Weather Man

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More info on Copart FQ4 earnings
Sep. 3, 2020 12:57 PM ET|About: Copart, Inc. (CPRT)|By: Manshi Mamtora, CFA, SA News Editor


Copart (CPRT -2.1%) FQ4 reports service revenue of $457M, and vehicle sales of ~$68M. Total revenue dropped about 3.1% from the same period last year.

Gross profit of $250.4M (+3.2% Y/Y)

Operating income of $250.7M vs. $192.8M prior

Net income of $165.5M (+7.8% Y/Y)
 

Weather Man

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Navistar higher on fresh Volkswagen talk
Sep. 3, 2020 2:59 PM ET|About: Volkswagen AG ADR (VWAGY)|By: Clark Schultz, SA News Editor


Volkswagen's (OTCPK:VWAGY) Traton is recharging efforts to acquire Navistar International (NAV +5.3%) after talks were put on hold due to the global pandemic, sources tell Bloomberg.

Traton will have to win over Navistar’s management and major shareholders like Carl Icahn to bring a deal to the finish line.

Talks are expected to resume sometime this month.
 

Weather Man

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Total, Peugeot to create European battery manufacturing JV
Sep. 3, 2020 5:31 PM ET|About: TOTAL SE (TOT)|By: Carl Surran, SA News Editor


French energy firm Total (NYSE:TOT) and French automaker Groupe PSA agree to set up a joint venture to develop and manufacture batteries in Europe for the automotive industry starting in 2023.

The companies say the joint venture, first unveiled in January, will mobilize an investment exceeding €5B ($5.93B) and has support of €1.3B from French and German public authorities.

Yann Vincent is named CEO and Ghislain Lescuyer is appointed Chairman of the venture, named Automotive Cells Company.

Groupe PSA has five car brands: Peugeot, Citroën, DS, Opel and Vauxhall.
 

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