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☆ Ford is set to report earnings after the bell. Here's what Wall Street expects
▼ + stars: | 2024-04-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday. The automaker's 2024 guidance released in February included adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion; adjusted free cash flow of $6 billion to $7 billion; and capital spending of $8 billion to $9.5 billion. There is less consensus on Wall Street around Ford's performance than there was for its crosstown rival General Motors , which on Tuesday reported strong first-quarter results and raised its full-year guidance. Ford is Morgan Stanley's "top pick," but others on Wall Street are less bullish on the company. Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.

Persons: Ford's, Ford, Morgan Stanley's, Joseph Spak, Jim Farley's, — CNBC's Michael Bloom Organizations: New York, DETROIT, Motors, UBS

☆ Volkswagen union vote in Tennessee to test UAW's power after victories in Detroit
▼ + stars: | 2024-04-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Elijah Nouvelage | Getty ImagesDETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of the union's sway. More than 4,000 VW workers are eligible to vote, beginning Wednesday and ending at 8 p.m. EDT on Friday. The organizing vote, which is being overseen by the National Labor Relations Board, will need a simple majority to succeed. Volkswagen, which has union workers at non-U.S. plants, has said it will let its workers determine whether to organize. An aerial view of the Chattanooga Volkswagen factory in Chattanooga, Tennessee on April 10, 2024.

Persons: Elijah Nouvelage, Shawn Fain, Fain, Stephen Silvia, Southern, Silvia, Kevin Wurm, it's, we're, —, Isaac Meadows, Meadows Organizations: Volkswagen, Getty, DETROIT, United Auto Workers, UAW, General Motors, Ford Motor, Chrysler, Detroit, Tennessee VW, VW, National Labor Relations Board, Detroit automakers, Southern Gamble, Workers, Foreign, American University, Washington , D.C, Chattanooga Volkswagen, Washington Post, Ford Locations: Chattanooga , Tennessee, U.S, Detroit, Tennessee, Chattanooga, Washington ,

☆ Republican governors from six states condemn UAW campaigns, citing potential for layoffs
▼ + stars: | 2024-04-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Republican governors of six states on Tuesday condemned the United Auto Workers' push to organize automotive factories in the South, warning the union's efforts could lead to layoffs and fewer future investments. The joint statement — signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas — comes a day before Volkswagen workers in Chattanooga, Tennessee, begin voting on whether to join the UAW. The VW vote is part of an unprecedented labor organizing drive announced last year by UAW President Shawn Fain that targets 13 automakers operating in southern states and elsewhere. "We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs," read the statement.

Persons: —, Texas —, Shawn Fain, Bill Lee Organizations: DETROIT, United Auto Workers, UAW, VW, General Motors, Ford Motor, Chrysler, Tennessee Gov Locations: Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas, Chattanooga , Tennessee

☆ Ford sees opportunity for Mustang as competitors abandon V8 engines
▼ + stars: | 2024-03-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who've been drawn to the performance vehicles. The optimism comes after Mustang's closest American competitors ended production of their muscle cars in December. Jeff Marentic, general manager of Ford Blue products, which includes the Mustang, said the pony car remains good business for the automaker both domestically and internationally. "For people who are looking for a true American sports car, it's available to them. … We're looking and talking about the future of Mustang, and how far we can grow it."

Persons: gearheads who've, Stellantis, Jeff Marentic, Marentic Organizations: DETROIT, Ford Motor, General Motors, Chevrolet, Dodge Challenger, Ford, CNBC Locations: American

☆ What investors should know about the U.S. easing vehicle emissions rules
▼ + stars: | 2024-03-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024. The new Environmental Protection Agency rules released Wednesday aim to cut tailpipe emissions by 49% between model years 2027 and 2032. The EPA set a target for EVs to make up at least 35% of new vehicle sales by 2032. The EPA's new strategy for cutting tailpipe emissions doesn't focus only on EVs. The EPA's percentage targets for EV adoption are not mandates but expectations for how automakers could meet the emissions regulations.

Persons: Joe Biden, Saul Loeb, Biden, Emmanuel Rosner, Mary Barra, Ngan, John Bozzella, Stocks, Tesla, weren't, Chelsea Hodgkins, Martin Viecha, Chris Kapsch, Morgan Stanley, Adam Jonas Organizations: United Auto Workers, Marriott Marquis, Washington , D.C, AFP, Getty, DETROIT, Environmental Protection Agency, EPA, EV, Detroit Automotive, Wall Street, Detroit, General Motors, Ford Motor, Chrysler, capex, Deutsche Bank, Chevrolet Silverado, Huntington Place Convention, Afp, Alliance for Automotive Innovation, United Auto Workers union, UAW, Toyota, Public Citizen, Sierra Club, Democratic, GM, Ford Locations: Washington ,, Detroit , Michigan, U.S, Detroit, Michigan

☆ Chrysler parent Stellantis laying off 400 salaried U.S. workers due to 'unprecedented uncertainties'
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions. Stellantis on Friday said the layoffs would affect about 2% of employees in those units "after rigorous organizational reviews." Stellantis employed 11,800 U.S. salaried employees as of the end of last year. A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.

Persons: Stellantis, Carlos Tavares Organizations: FCA Headquarters, Technology Center, DETROIT, Wall Street, Fiat Chrysler, French, PSA Groupe Locations: Auburn Hills , Michigan, U.S

☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

☆ GM cuts Chevy Blazer EV price as sales restart following software issues
▼ + stars: | 2024-03-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Scott Mlyn | CNBCDETROIT — General Motors is reducing the price of its new Chevrolet Blazer EV by thousands of dollars as it restarts sales of the vehicle Friday following an 11-week stoppage to address software issues. Current 2024 Blazer EV models will start at $50,195, or $6,520 less than when it first went on sale in August. "There is not this singular, predominant root cause that causes all of these issues," Cetinok told CNBC during an interview. Still no Apple CarPlayIn addition to fixing the software issues, GM added or changed some features following early customer feedback. More expensive "RS" models of the Blazer EV will be reduced by $5,620 to starting prices of $54,595 for all-wheel drive, or $56,170 for rear-wheel drive.

Persons: Scott Mlyn, Baris, Cetinok, Price Organizations: Electric, CNBC DETROIT —, Motors, Chevrolet, GM, CNBC, Apple, Blazer SS EV, Android Auto, Blazer, Apple Inc

☆ Dodge Charger will live on as a new EV and a gas-powered muscle car
▼ + stars: | 2024-03-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

In this article STLAM-IT Follow your favorite stocks CREATE FREE ACCOUNT2024 Dodge Charger Daytona Scat Pack EV DodgeDETROIT — Dodge won't abandon its traditional, gearhead, high-octane Charger and Challenger owners with its next-generation muscle car. The automaker on Tuesday revealed the new Dodge Charger as an all-electric vehicle as well as a next-generation gas-powered muscle car. 2024 Dodge Charger Daytona Scat Pack EV DodgeDodge CEO Tim Kuniskis called the EV a "game changer in the industry." Dodge Charger DaytonaThe Charger Daytona EV will initially be offered in "R/T" and "Scat Pack" models with 496 horsepower and 670 horsepower, respectively. The "Fratzog" logo on the "R-Wing" of the 2024 Dodge Charger Daytona Scat Pack EV.

Persons: DETROIT — Dodge, Dodge, Tim Kuniskis, we're, Kuniskis, Carlos Tavares, Tavares, Michael Wayland Organizations: DETROIT, Challenger, Dodge, Chargers, Dodge Dodge, EV, Charger, Dodge Challenger Locations: Dodge, Windsor , Ontario, Canada, Pontiac, Mich, CNBC

☆ The auto industry owes Toyota an apology on hybrids
▼ + stars: | 2024-02-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Toyota, the originator of the hybrid car craze in the early 2000s, is poised to reclaim its crown as the king of green cars. This, paired with the success of Tesla and overall investor enthusiasm for EV technology, left Toyota looking like a laggard. AdvertisementDespite years of criticism, it appears that Toyota might have had the right idea after all. Shoppers in the market for a hybrid are also much more likely to pony up more cash for these cars. Toyota has spent the last several years releasing more hybrids and plug-in hybrids, while refusing to give up on the nascent hydrogen fuel cell technology that many of its competitors have largely abandoned.

Persons: Elon Musk's Tesla, Jeremy Korst, Korst, Akio Toyoda, Toyoda, Tesla, Toyota's, Mary Barra Organizations: Toyota, Business, EV, Elon, Ford, EV technology, Cox Automotive, Cox, Shoppers, Companies, GM Locations: Detroit, North America

☆ Chrysler reveals new Halcyon concept car as direction for future EVs
▼ + stars: | 2024-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. StellantisAutomakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand. The Halcyon concept car boasts "harmony in motion" and sustainability principles, according to several officials.

Persons: Christine Feuell, we've, Feuell, Stellantis Organizations: Chrysler, DETROIT, Chrysler Pacifica, Stellantis, Fiat Chrysler, French, PSA, —, CES Locations: U.S, Canada

☆ Ford tops fourth-quarter estimates, guides toward strong 2024
▼ + stars: | 2024-02-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT — Ford Motor beat Wall Street's top- and bottom-line expectations for the fourth quarter while forecasting better-than-expected results for 2024. The company's full-year forecast calls for adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion, adjusted free cash flow of $6 billion to $7 billion and capital spending of $8 billion to $9.5 billion. Analysts had expected Ford's adjusted earnings guidance to be roughly $9 billion to $11 billion, according to investor notes from several analysts. The automaker also announced a special dividend of 18 cents per share in addition to a first-quarter regular dividend of 15 cents per share. Adjusted earnings of Ford's traditional business, known as Ford Blue, were down about 48% during the fourth quarter compared to a year earlier to $813 million.

Persons: Jim Farley, Ford, Farley Organizations: Ford Motor Company, Technology, Ford, LSEG, Ford Motor Co, Ford Pro Locations: China, Marshall , Michigan, Romulus , Michigan, DETROIT

☆ Ford is reassessing its EV plans, including vertical battery integration
▼ + stars: | 2024-02-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Ford Motor is rethinking its electric vehicle strategies, including "reassessing" the need for vertical integration of batteries, CEO Jim Farley said Tuesday. He also said the company is pulling a target for its EV unit that called for 8% margin by 2026. As Ford pulls back and reevaluates the EV business, it intends to lean in on sales of hybrid vehicles, specifically trucks. The company expects its hybrid sales to increase 40% this year. It sold 133,743 hybrid vehicles in the U.S. in 2023.

Persons: Jim Farley, Farley, John Lawler, Lawler, Ford Organizations: New York, Auto, DETROIT, Detroit, Ford, EV, CNBC PRO Locations: New York, U.S

☆ GM unveils 2025 Chevy Equinox with new rugged design, standard heated seats
▼ + stars: | 2024-01-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTThe 2025 Chevrolet Equinox RS. ChevroletDETROIT — General Motors is redesigning its gas-powered Chevrolet Equinox crossover to look more rugged than its predecessors in an attempt to move the vehicle upmarket and attract new buyers. The 2025 Equinox, which GM revealed Tuesday, will feature additional standard safety and convenience features. The 2025 Chevrolet Equinox RS. ChevroletThe 2025 model will have heated seats and a heated steering wheel standard on all models — a first for the Equinox and many mainstream brands.

Persons: Brad Franz, Franz, we've Organizations: Chevrolet DETROIT —, Motors, GM, Chevrolet

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will be no different
▼ + stars: | 2024-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTMary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022. GM's EV sales last year totaled 75,883 units, or 2.9% of the company's overall sales. However, a vast majority of GM's EV sales were from its now-discontinued Chevrolet Bolt models. Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. General Motors CEO Mary Barra testifies during a House Energy and Commerce Committee hearing on Capitol Hill in Washington, April 1, 2014.

Persons: Mary Barra, Mary Barra's, Barra, She's, Tesla, Michelle Krebs, Warren Buffett's Berkshire, EVs hasn't, Frederic J, Brown, there's, Cruise, Cruise's, Jeff Kowalsky, Darryll Harrison Jr, Mary, Barra's, Dan Akerson, Dan Ammann, Mark Reuss, Steve Fecht, Stephanie Brinley, they've, Lyft, David Einhorn's, Einhorn Organizations: General Motors, New York Stock Exchange, NYSE DETROIT, Detroit, GM, Wall, U.S, EV, Cox Automotive, Warren Buffett's Berkshire Hathaway, —, Hyundai, Kia, Bolt, EVs, Cadillac, AFP, Getty, Honda Motor, Automotive Press Association, Bloomberg, Cruise, CNBC, GM Renaissance Center Global Headquarters, P Global Mobility, Apple, Google, Energy, Commerce, Capitol Locations: Los Angeles, North America, Barra, San Francisco, Detroit, Washington

☆ Used car prices expected to stabilize in 2024 after two years of decreases from record highs
▼ + stars: | 2024-01-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

(Staff photo by Brianna Soukup/Portland Press Herald via Getty Images)DETROIT — Used vehicle prices are expected to stabilize this year, after buyers of pre-owned cars and trucks got more relief in 2023 following a stretch of record prices. However, used vehicle prices are still higher than they were before the pandemic. Retail prices for consumers traditionally follow changes in wholesale prices, but they have not fallen as quickly as wholesale prices in recent years. Used vehicle sales are expected to increase by less than 1% to 36.2 million, according to Cox Automotive. That forecast includes 19.2 million in used vehicle retail sales.

Persons: Brianna Soukup, Cox, we've, Jeremy Robb, Jonathan Smoke Organizations: Lee, Portland Press, Getty, Automotive, Cox Automotive Locations: Manheim, U.S

☆ Why automakers are turning to hybrids in the middle of the industry's EV transition
▼ + stars: | 2023-12-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

Sales of traditional hybrid electric vehicles, or HEVs, such as the Toyota Prius, are outpacing those of all-electric vehicles in 2023, according to Edmunds. Sales of plug-in hybrid electric vehicles, or PHEVs, accounted for only 1% of U.S. sales through November. In comparison, Ford's EV sales are up 16.2% to roughly 62,500 units, accounting for 3.5% of its total sales. Battery breakdown Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. The world's largest automaker is considered the pioneer of traditional hybrids, with the Prius.

Persons: Scott Mlyn, Biden, HEVs, EVs, There's, Jessica Caldwell, Edmunds, Morgan Stanley, Eric Watson, Jim Farley's, Jeep Wrangler, Motors, Mary Barra, It's, Mark Reuss, Stephanie Brinley, Akio Toyoda Organizations: CNBC DETROIT —, EV, Toyota Prius, Toyota, Honda Motor, Hyundai, Kia, U.S, Representatives, Kia America, CNBC, Detroit automakers, Detroit, Ford Motor, Ford, Chrysler, Jeep, Cherokee, GM, Chevrolet, Automotive Press Association, National, Traffic Safety Administration, American Automotive Policy Council, Reuters, NHTSA, P Global Mobility . Industry, EVs, Wall Street Locations: Edmunds, U.S, That's, Kia America's, China, Detroit, EVs

☆ Stellantis resurrects small Fiat 500e EV for the U.S., starting at $34,095
▼ + stars: | 2023-12-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Stellantis is resurrecting the all-electric Fiat 500e for the U.S. market, as the automaker begins to release electric vehicles domestically to meet tightening fuel economy regulations. The 500e will be the first all-electric vehicle offered in the U.S. by Stellantis since the company formed in 2021. At just over 3,000 pounds, Stellantis says the 500e is expected to be the lightest all-electric vehicle in the segment. The electric Fiat 500e as well as gas-powered models of the car were previously built at a factory in Mexico by Fiat Chrysler. A Fiat spokesman said additional 500e models will be available at Fiat dealerships in the future.

Persons: Stellantis, It's, it's, Sergio Marchionne, Bono, AIDS — Organizations: DETROIT, U.S, Stellantis, Fiat Chrysler, French PSA Group, 500e, AIDS, ONE, Fiat Locations: U.S, Italy, Mexico

☆ Cost of living in 32 of the biggest Midwestern cities
▼ + stars: | 2023-12-01 | by ( Madison Hoff | Cork Gaines | ) www.businessinsider.com time to read: +2 min

Chicago had the highest Cost of Living Index score among 32 Midwestern cities. Of the 32 Midwestern urban areas examined, 29 fell below the national average. However, the vast majority of the 32 large Midwestern cities included in the study are cheaper than the national average. The Council for Community and Economic Research, or C2ER, released its quarterly Cost of Living Index in October. Below are the 32 Midwestern places in our analysis ranked by their indexes from C2ER.

Persons: — Organizations: Chicago, Service, Midwest, for Community, Economic Research, Index, Detroit — Locations: Springfield , Missouri, — Illinois, Indiana , Iowa , Kansas , Michigan, Minnesota , Missouri , Nebraska, North Dakota , Ohio, South Dakota, Wisconsin, Florida , Texas, California, Chicago, Detroit, Milwaukee

☆ Ford union workers ratify UAW deal, closing out historic negotiations with Detroit automakers
▼ + stars: | 2023-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. DETROIT — Union members at Ford Motor approved a tentative agreement Friday, concluding contentious contract negotiations between the United Auto Workers and Detroit automakers. According to the UAW's vote tracker, which must still be finalized, the Ford deal was supported by 68.2% of the nearly 35,000 autoworkers at Ford who voted. Local UAW chapters representing every Ford plant voted in favor of the pact aside from a small parts facility in Florida and the automaker's massive Kentucky Truck Plant, as of early Friday afternoon. The contract ratifications come weeks after the automakers and union reached tentative deals, ending about six weeks of targeted strikes by the UAW.

Persons: Ford, ratifications, Shawn Fain Organizations: United Auto Workers, Plant, DETROIT — Union, Ford Motor, Detroit, UAW, Ford, General Motors, Local UAW, Dearborn, Stellantis, GM Locations: Michigan, Wayne , Michigan, Florida, Plant

☆ Stellantis offers buyouts to roughly half of U.S. salaried workers
▼ + stars: | 2023-11-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Chrysler parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker's North American operations. Both General Motors and Ford Motor also have cut salaried workers over the past year. "As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the Company," Stellantis said in an emailed statement. A Stellantis spokeswoman declined to comment on how many people or total costs the company would like to cut. This marks the second round of salaried buyouts this year for Stellantis.

Persons: Carlos Tavares, Stellantis, Mark Stewart Organizations: New York, Auto, DETROIT, Chrysler, U.S, General Motors, Ford Motor, Company, Stellantis, Wall Street Journal, Employees Locations: Manhattan , New York

☆ Stellantis' new Ram pickup is an EV — with a gas-powered generator in case the battery runs out
▼ + stars: | 2023-11-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

The 2025 Ram 1500 Ramcharger is expected to go on sale in late 2024 alongside a previously revealed all-electric Ram 1500 truck without a gas-powered engine or range-extending electric generator. That range compares with up to an expected 500-mile range of the all-electric Ram 1500 REV pickup. 2025 Ram 1500 Ramcharger Tungsten RamSimilar propulsion technology — referred to as extended-range electric vehicles, or EREVs — is available in overseas markets, specifically China. For the traditional Ram 1500 models, the biggest change is the company is dropping its well-known Hemi V-8. Ram's 2023 Super Bowl ad debuts the production version of the Ram 1500 REV electric pickup that is expected to go on sale in late 2024.

Persons: Ramcharger, Tim Kuniskis, Kuniskis, Stellantis, Stephanie Brinley, It's, Michael Wayland Organizations: DETROIT, U.S . Environmental Protection Agency, P Global Mobility, General Motors, Chrysler, Jeep, Fiat, U.S, Dodge, CNBC, GM, Ford Motor, Chrysler Pacifica minivan, Cherokee Locations: China, Pontiac, Mich

Bowman, Lee, Omar and Tlaib also were among the 17 sponsors of Bush’s resolution asking the Biden administration to call for a ceasefire. Challenges to Bush and the others were possible even before the Hamas attack on Oct. 7 or Israel’s subsequent attack on Hamas in the Gaza Strip. It is unfortunate, Andrabi said, that the House Democratic leadership has not taken a stronger stance against AIPAC’s efforts to knock off rank-and-file Democrats. It remains unclear whether House Democrats will help incumbents fend off primary challengers through campaign fundraising arms. Before Oct. 7, House Democratic Leader Hakeem Jeffries, D-N.Y., issued statements of support for Omar and others, saying he will support the reelection of every House Democratic incumbent, regardless of ideology.

Persons: Cori Bush, Israel, Wesley Bell, Bush, Bush isn’t, Israel —, Bell, Summer Lee, Jamaal Bowman, Ilhan Omar, Rashida, Israel's staunchest, Omar, Bowman, Thanedar, Lee, Tlaib, Gaza . Bowman, Biden, Omar —, “, Democrats ’, Usamah Andrabi, Andrabi, Hakeem Jeffries, ” Tlaib, Israel Democrats ” —, Thanedar —, Detroit —, Sen, Adam Hollier —, Reconstructionists, ”, Daniel Fellman, Lee isn’t, ” Lee, Bhavini Patel, Lee doesn’t, Don Samuels, George Floyd, George Latimer, Latimer, Bush —, —, Darryl Gray, Louis, ” ___ Levy, Steve Karnowski, Joey Cappelletti, Anthony Izaguirre Organizations: LOUIS, Hamas, The Missouri Democrat, U.S, Senate, Democratic, Democrats, Israel, Democratic Party, Justice Democrats, American Israel Public Affairs Committee, “ Democratic, ”, House Democratic, Democratic Congressional, Palestinian American, Israel Democrats, Tlaib, Detroit, Conservative, Somali American, Westchester Locations: Israel, The Missouri, St, Louis, Pennsylvania, New York, Minnesota, Michigan, Detroit, Gaza ., Gaza, D, Detroit House, Dearborn, Southfield, Hollier, In Pittsburgh, Pittsburgh’s Temple, Minneapolis, Somali, Westchester County, Missouri, Iran, Harrisburg , Pennsylvania, Lansing , Michigan, Albany , New York

☆ Winners and losers of the UAW talks with GM, Ford and Stellantis
▼ + stars: | 2023-10-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

UAW President Shawn Fain warned of a more combative union heading into the talks, but not many, if anyone, expected the union to strategically outmaneuver the companies like it did, leading to record deals for 146,000 UAW members with GM, Ford Motor and Stellantis . UAW members must still vote to ratify the tentative agreements. 1, of course, are the UAW members," said Art Wheaton, a labor professor at The Worker Institute at Cornell University. Some winners, some losers: UAW membersBroadly speaking, the UAW members covered by the new deals are winners, however not everyone faced the financial toll of the union's strikes against the Detroit automakers. They may also be targets of increased organizing efforts by members seeking better wages like those for UAW members.

Persons: Joe Biden, Shawn Fain, Evelyn Hockstein, General Motors, Fain, Tesla, Wheaton, Shawn Fain Fain, they've, Marick, It's, Ford, John Lawler, Masters, I'm, Biden Organizations: United Auto Workers, Reuters DETROIT, General, Detroit, UAW, GM, Ford Motor, Worker Institute, Cornell University, Wayne State University, Ford, Deutsche Bank, Finance, Detroit automakers, Toyota, Hyundai, EVs Locations: Bellville , Michigan, U.S, Detroit, Michigan

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