Interesting Car/Truck Manufacturer News

[Weather Man]

Nikola -35% after Milton resignation sends shockwaves
Sep. 21, 2020 6:51 AM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor


Nikola (NASDAQ:NKLA) tumbles after Trevor Milton steps down from the executive chairman position on the board.

Wedbush Securities is out with an early note on the development.

"Trevor stepping down voluntarily at Nikola will be perceived by the Street as a major near-term gut punch for the company's lofty EV ambitions as he plays a key role strategically in driving the company's vision. While there will be a lot of worries on the Street around Trevor's departure especially in light of the bear noise recently with the company, going forward Nikola has a strong bench and now it's all about execution going forward with the GM partnership a linchpin to its success," updates analyst Dan Ives.

"In a nutshell, Nikola is still a prove me stock, which speaks to why we are watching this from the sidelines with a NEUTRAL rating until we can get more confidence in the EV and hydrogen fuel cell execution story over the next 12 to 18 months," he adds.

Shares of Nikola are down 34.66% on premarket volume of over 665K. The stock hasn't traded below $20 since the early part of May. See the advanced chart.

 

[Weather Man]

Ballard views on China's new policy regarding Fuel Cell Electric Vehicles
Sep. 21, 2020 6:12 AM ET|About: Ballard Power Systems Inc. (BLDP)|By: Niloofer Shaikh, SA News Editor


China's government announced a new official policy to support the adoption of Fuel Cell Electric Vehicles in selected demonstration regions in China.

"With a target to achieve 1M Fuel Cell Electric Vehicles on China's roads by 2030, this new fuel cell policy sets a framework for the scaled adoption of FCEVs," said Randy MacEwen, Ballard (NASDAQ:BLDP) President and CEO. "We believe this new policy signifies the strategic importance China places on FCEVs both from a decarbonization perspective as well as a competitive industrial perspective. The new policy comes just as the Weichai-Ballard joint venture has been recently commissioned in Shandong Province with annual manufacturing capacity in excess of 1 Gigawatt of fuel cell stacks. We believe the Weichai-Ballard joint venture is well positioned to become a leading fuel cell stack and module platform in China - the world's largest market for commercial trucks and buses."

The policy framework is set for the next four years.

Ballard's technology enjoys a significant share of the ~7,200 FCEVs deployed in China to date.

While Ballard Power is growing at a rapid rate, the company is still having trouble on the profitability front. Moreover, fuel cell technology is seriously being challenged by battery technology. Ballard Power appears to be overvalued at its current market capitalization of ~$4 billion and P/S ratio of ~33. Ballard Power's TTM revenue only stands at around ~$0.117B, wrote Simple Investment Ideas in the article "Ballard Power Systems Is Facing Major Challenges."

 

[Stanley]

GMC, Chevrolet diesel pickup prices cut by $1,500 as they power conquest sales

......The turbocharged 3.0-liter inline-six cylinder motor is optional on several trim levels of the GMC Sierra and Chevrolet Silverado 1500 pickups and delivers best-in-class fuel economy of up to 33 mpg on the highway.

When the diesel was originally launched in 2020, GM priced it the same as the 6.2-liter V8 that is the larger of the two eight-cylinder engines that are also offered in the trucks, but is now dropping the price by $1,500 on both the remaining 2020 and upcoming 2021 models.

GMC and Buick VP Duncan Aldred told the Detroit Free Press that the engine has been a potent conquest weapon.

“Over half of the people buying the diesel are new to the GMC brand," Aldred said.

According to Automotive News, about 10 percent of Sierra 1500 buyers have been choosing the diesel option. The new pricing makes it a $995 step up from the available 5.3-liter V8.......

If the emissions related gear on these engines didn't hurt them so much these small diesels would be everywhere. After seeing what my buddy went through with his ecodiesel and hearing him talk about all the others that would post about similar major issues I'm to scared to get one.

 

[ON D BIT]

If the emissions related gear on these engines didn't hurt them so much these small diesels would be everywhere. After seeing what my buddy went through with his ecodiesel and hearing him talk about all the others that would post about similar major issues I'm to scared to get one.

What did he go through?

 

[Stanley]

What did he go through?

His was a 2016.
I think the EGR coolers would start leaking water into the engine or something. It broke down on him while he was leaving with his travel trailer. It was fixed under warranty, but he said he caught it right before severe engine damage. He said in the ecodiesel facebook group he was in people were posting about engine failures on a pretty regular basis and I believe most of it started with egr cooler issues or something along those lines. He traded into a newer 5.7 Ram and really likes it. Says that he misses the fuel mileage though.

 

[Weather Man]

California to ban new gasoline car sales by 2035
Sep. 23, 2020 1:43 PM ET|About: General Motors Company (GM)|By: Clark Schultz, SA News Editor


In some electrifying news, California Governor Gavin Newsom announced an order to ban gasoline-powered cars in the state by 2035.

The directive means that all new cars sold in the state must be zero-emission vehicles by that time.

Major automakers are making such an electrification push that the 15-year timeline may not be too much of a jolt.

 

[Blk04L]

It's a liberal circlejerk wish

 

[Weather Man]

CarMax EPS beats by $0.73, beats on revenue
Sep. 24, 2020 6:55 AM ET|About: CarMax, Inc. (KMX)|By: Niloofer Shaikh, SA News Editor


CarMax (NYSE:KMX): Q2 GAAP EPS of $1.79 beats by $0.73.

Revenue of $5.37B (+3.3% Y/Y) beats by $290M.

 

[ON D BIT]

CarMax EPS beats by $0.73, beats on revenue
Sep. 24, 2020 6:55 AM ET|About: CarMax, Inc. (KMX)|By: Niloofer Shaikh, SA News Editor


CarMax (NYSE:KMX): Q2 GAAP EPS of $1.79 beats by $0.73.

Revenue of $5.37B (+3.3% Y/Y) beats by $290M.

Considering used car prices are at an all time high not surprising.

 

[Weather Man]

Considering used car prices are at an all time high not surprising.

They actually got hammered today because of inventory shortage plaguing everyone.

 

[ON D BIT]

The business or the stock. Stock price has nothing to do with revenue.

 

[Weather Man]

The business or the stock. Stock price has nothing to do with revenue.

Stock value, can't make money if you don't have product. Revenue and stock price not being related is a unique take. I get that you can have a ton of revenue and no profit, but the reverse is also true, you need a lot of revenue to make a lot of profit.

 

[ON D BIT]

Stock value, can't make money if you don't have product. Revenue and stock price not being related is a unique take. I get that you can have a ton of revenue and no profit, but the reverse is also true, you need a lot of revenue to make a lot of profit.

I probably should have stated profit. One could have no profit and stock takes off and one could have tons of profit and stock tanks.

 

[Weather Man]

Audi looks to expand JV partnership in China
Sep. 26, 2020 8:51 AM ET|About: AUDI AG (AUDVF)|By: Clark Schultz, SA News Editor


German automaker Audi (OTCPK:AUDVF) is in talks with Chinese counterpart FAW Group about creating a second joint venture to build electric cars on its PPE platform in China, according to Automobilwoche.

Audi and state-owned FAW already operate a Chinese joint venture together to build combustion-engined cars in the northeastern city of Changchun and the southern city of Foshan.

The move by the Volkswagen (OTCPK:VWAGY) property comes with interest in the China EV scene accelerating.

Last week, Tesla outlined a plan to ramp up production out of Shanghai and JPMorgan issued a rosy projection for 26% CAGR over 2019-2025 for Chinese auto investment. Investors continue to swirl around names like Li Auto (NASDAQ:LI), Xpeng Motors (NYSE:XPEV), Nio (NYSE:NIO) and Kandi Technologies (NASDAQ:KNDI)

 

[598]

Any deals on month end/year end suvs or crossovers? pretty sure my wife is going with a RAV 4. Anyone with input on how much I can push on the 2020 pricing with the 2021s hitting the showroom. Looked at an edge, and fitment of panels was horrendous. I asked the salesman if it had been in an accident, and he said fitment has been an issue for all the american models. If its that crappy on the surface, have to wonder whats covered up.

 

[Weather Man]

Any deals on month end/year end suvs or crossovers? pretty sure my wife is going with a RAV 4. Anyone with input on how much I can push on the 2020 pricing with the 2021s hitting the showroom. Looked at an edge, and fitment of panels was horrendous. I asked the salesman if it had been in an accident, and he said fitment has been an issue for all the american models. If its that crappy on the surface, have to wonder whats covered up.

With how strong sales are and some brands having inventory shortages, be tough to push hard on anything but the value of your trade.

 

[SHIFTYBUSINESS]

I’ve been looking at the Workhorse stock seems like they have good potential. I’m not excited about the whole EV thing at all but it’s happening no question about it.


Sent from my iPhone using svtperformance.com

 

[kazman]

Flying Taxi company name should be Jetson's

 

[Weather Man]

Volkswagen and local Chinese JVs to invest in EVs
Sep. 28, 2020 10:11 AM ET|About: Volkswagen AG (VLKAF)|By: Khyathi Dalal, SA News Editor


Between 2020 and 2024, Volkswagen AG (OTCPK:VLKAF +1.0%) and three local JVs ( with FAW Group, SAIC Motor and the German automaker JAC) plan to invest ~$17.44B in electric mobility in the biggest car market China.

With the investment, they plan to build 15 different battery electric or plug-in hybrid models in China by 2025.

The EVs will be based on its MEB architecture at two Chinese factories from October and EV batteries will be sourced from CATL, Guoxuan and A123.

 

[Weather Man]

Tesla said to be eying investment in LG Chem
Sep. 28, 2020 1:50 PM ET|About: Tesla, Inc. (TSLA)|By: Clark Schultz, SA News Editor


Tesla (TSLA +2.9%) is looking into purchasing a stake in battery maker LG Chem (OTCPK:LGCLF) of as much as 10%, according to the Korea Times.

The report follows word earlier this month that LG will spin off its battery business to create a new company called LG Energy Solutions.

Tesla is hoping to secure a supply of batteries as it also goes down a dual path of developing its own batteries.