Ford stock on pace for worst day in more than 11 years

Ford stock on pace for worst day in more than 11 years

Ford F-150 Lightning at the 2022 New York Auto Show. Scott Mlyn | CNBC DETROIT – Ford Motor’s stock is on pace for its worst day in more than 11 years, after the automaker pre-released part of its third-quarter earnings report and warned investors of $1 billion in unexpected supplier costs. Shares of Ford were … Read more

Ford warns investors of an extra $1 billion in supply chain costs during the third quarter

Ford warns investors of an extra  billion in supply chain costs during the third quarter

2023 Ford F-150 Raptor R Ford DETROIT – Ford Motor on Monday warned investors that the company expects to incur $1 billion more in costs than previously expected during the third quarter due to inflation and supply chain issues. Ford said supply problems have resulted in parts shortages affecting roughly 40,000 to 45,000 vehicles, largely … Read more

Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO

Volkswagen targets .1 billion to .1 billion valuation in planned Porsche IPO

The name of the car manufacturer Porsche is attached to the curved facade of the newly built Porsche Centre in Magdeburg. Stephan Schulz | picture alliance via Getty Images Volkswagen will price preferred shares in the planned flotation of Porsche AG at 76.50 euros to 82.50 euros ($76.61 to $82.62) per share, the carmaker said … Read more

Ford’s hands-free driving tech in Lincoln Corsair, starting at $40,000

Ford’s hands-free driving tech in Lincoln Corsair, starting at ,000

2023 Lincoln Corsair Grand Touring plug-in hybrid electric vehicle Lincoln DETROIT — Ford Motor is expanding the availability of its hands-free highway driving system to Lincoln’s entry-level Corsair crossover, as the automaker broadens the technology to lower-priced vehicles. The 2023 Corsair will be the sixth vehicle in Ford’s lineup to offer the system and only … Read more

How to avoid speeding tickets in Toronto

How to avoid speeding tickets in Toronto

It’s September and Toronto’s congested roads are growing busier with buses and parents ferrying children to and from school, adding to the artery-clogging disorder in the morning and afternoon. Increasingly, the city is turning to automated traffic cameras to help keep Toronto’s drivers in check and improve road safety for everyone. Canada’s largest city first … Read more

Tesla evaluating lithium refinery in Texas for electric car batteries

Tesla evaluating lithium refinery in Texas for electric car batteries

Elon Musk had previously suggested Tesla could get into lithium refining at scale because the cost of the metal, a key component in manufacturing batteries, has surged. If Tesla’s application in Texas is approved, construction on a lithium hydroxide refining facility could begin in the fourth quarter of 2022. Christophe Gateau | Picture Alliance | … Read more

Nio says Nvidia chip restrictions won’t hurt them

Nio says Nvidia chip restrictions won’t hurt them

Chinese electric car company Nio said it doesn’t expect U.S. restrictions on Nvidia to affect the start-up’s business operations. Vcg | Visual China Group | Getty Images Li said Wednesday there are many companies in China with artificial intelligence training chips, and that Nio is evaluating opportunities to work with different companies. But he said … Read more

Volkswagen triggers landmark Porsche IPO plan, defying market doubts

Volkswagen triggers landmark Porsche IPO plan, defying market doubts

A Porsche 911 Carrera 4S stands in the evening light in a drive-in cinema on the circuit of the Leipzig Porsche factory. Jan Woitas | picture alliance via Getty Images Volkswagen on Monday announced its intention to float sports car brand Porsche, triggering what could become one of the world’s largest listings even as record inflation and a … Read more

EV manufacturing may shrink U.S. Midwest auto parts trade

EV manufacturing may shrink U.S. Midwest auto parts trade

The race to build electric vehicles in the U.S. is heating up as fresh rounds of investment come out of Washington. Workers at the former heart of the auto industry fear being left behind. “When we look carefully at what goes on on the factory floor, it won’t be less workers,” Keith Cooley, former head … Read more

Ford’s new vehicle sales slow in August, in line with expectations

Ford’s new vehicle sales slow in August, in line with expectations

2023 Ford F-150 Raptor R Ford DETROIT – Ford Motor on Friday said its U.S. sales last month increased double-digits from a year earlier but were off about 4% from the prior month, as the company and auto industry continue to manage significant supply chain issues. The Detroit automaker reported August sales of 158,088 new … Read more