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Until this week, Fain had announced all of the union's new strikes on Fridays, during what has become a weekly livestreamed update for union members. "We continue to believe the escalation at [Ford] this week is a sign the talks may be coming to an end. KY Truck is likely Ford's most profitable plant, and therefore the strike is the highest level of escalation, aside from a national strike," Wells Fargo analyst Colin Langan wrote in a Friday note. But the UAW's leaders may be looking one more step ahead, to the process of selling a tentative deal with Ford to their members. ), and that UAW members have secured the last few ounces of wage, benefits, and job protection concessions that they can get," Lache wrote Thursday to investors.

Persons: counterintuitively —, It's, Shawn Fain, Fain, Wells, Colin Langan, autoworkers, Wolfe, Rod Lache, Ford, Lache Organizations: DETROIT, United Auto Workers, Ford Motor's, Plant, Ford, General Motors, Chrysler, Street, UAW Locations: Kentucky

Now there is only one rule – pony up.”The announcement marks a tactical shift, Fain said. This is the first time that the union has gone on strike against GM, Ford and Stellantis at the same time. GM, Ford and Stellatis have all announced plans to shift from traditional gasoline-powered vehicles to electric vehicles, or EVs. All are expected to pay significantly less than UAW members at those engine and transmission plants are now paid. Details of what GM has agreed upon in relation to workers battery plant workers is not yet known, as GM has not confirmed the tentative agreement on the issue.

Persons: Shawn Fain, ” Fain, Fain, “ We’re, “, they’re, ”, Colin Langan, Ford, Kumar Galhotra, didn’t Organizations: CNN, Big, UAW, Kentucky, Plant, GM, Ford, Wells, Kentucky Truck Locations: Ford’s, Louisville, Wells Fargo

A newly remodeled Ford F250 Super Duty truck is displayed at the new Louisville Ford truck plant in Louisville, Kentucky, U.S. September 30, 2016. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Even with 8,700 workers at Ford's Kentucky Truck plant now on strike, less than a quarter of the 150,000 UAW workers at the Detroit Three automakers are now on strike. Ford warned on Wednesday that workers at a dozen other factories could be sent home because of the truck plant walkout. Its Kentucky truck plant, the company's most profitable operation, generates $25 billion in annual sales, about a sixth of Ford's global automotive revenue.

Persons: Bryan Woolston, Shawn Fain, Here’s, Fain, Stellantis, Chris McNally, Ford's, Flint, Sam Fiorani, Wells, Colin Langan, Ford, Fiorani, leadership's, Wednesday's Ford, walkouts, Joe White, Abhirup Roy, David Shepardson, Priyamvada, Peter Henderson, Jamie Freed Organizations: Ford, Super, Louisville Ford, REUTERS, Rights, United Auto Workers, UAW, Ford's, Stellantis NV, General Motors, Chrysler, Lincoln, Detroit, AutoForecast Solutions, Detroit Three, Kentucky, GM, Reuters Graphics Reuters, Thomson Locations: Louisville , Kentucky, U.S, Stellantis, Kentucky, Arlington , Texas, Sterling Heights, Warren , Michigan, Detroit, Wells, Its Kentucky, San Francisco, Washington, Bengaluru

☆ The next wave of UAW strike will hit the most profitable vehicles, says Wells Fargo's Colin Langan
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe next wave of UAW strike will hit the most profitable vehicles, says Wells Fargo's Colin LanganColin Langan, Wells Fargo automotive and mobility analyst, joins 'Squawk Box' to discuss the latest in UAW strike, why he believes the strike could go on for 45 days and lead to catastrophic consequences, the impact on automakers, and more.

Persons: Wells Fargo's Colin Langan Colin Langan, Wells Organizations: UAW Locations: Wells Fargo

☆ GM executive slams UAW over 'flow of misinformation,' rhetoric during strike
▼ + stars: | 2023-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

The UAW opens auto contract negotiations with Stellantis today, Ford on July 14, and General Motors on July 18. "As the past has clearly shown, nobody wins in a strike," Reuss said in a Wednesday column in the Detroit Free Press. watch nowGM's last offer was made Sept. 14, ahead of the union initiating a "Stand Up Strike" at one assembly plant each for GM, Ford Motor and Stellantis. UAW President Shawn Fain said Monday the strikes will expand at noon Friday unless "serious progress" is made in negotiations. Late Monday, Ford released a lengthy statement fact-checking comments made by Fain, including auto worker wages, company profits and stock buybacks.

Persons: Shawn Fain, Bill Pugliano, Mark Reuss, Reuss, GM's, Wells Fargo's Colin Langan, Langan, Andrew Harrer, Ford, Fain, Jim Farley, He's, We've, Farley, CNBC's Phil LeBeau, he's Organizations: United Auto Workers, Sterling Heights Assembly, UAW, Ford, General Motors, Getty, DETROIT, Detroit automakers, General, Detroit Free Press, GM, Ford Motor, Stellantis, General Motors Co, Chevrolet Silverado, Auto, Bloomberg Locations: Sterling Heights, Sterling Heights , Michigan, Stellantis, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Detroit , Michigan

☆ What industry experts, leaders say about the autoworkers' strike
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +7 min

SAM FIORANI, PRODUCTION FORECASTER AT AUTO FORECAST SOLUTIONS:"This is more of a symbolic strike than an actual damaging one ... DEMOCRATIC U.S. REPRESENTATIVE ELISSA SLOTKIN OF MICHIGAN:"I'm looking forward to joining our auto workers on the picket line this weekend. DONALD TRUMP, FORMER U.S. PRESIDENT:"The all Electric (car) is a disaster for both the United Auto Workers and the American Consumer. The targeted strike is intended to give UAW flexibility strike fund duration." SUZANNE CLARK, CEO OF US CHAMBER OF COMMERCE"The UAW strike and indeed the 'summer of strikes' is the natural result of the Biden administration's 'whole of government' approach to promoting unionization at all costs."

Persons: MARY BARRA, who's, we've, Shawn, Fain, DAN IVES, KOJI ENDO, LEE JAE, ARTHUR WHEATON, It's, ELISSA SLOTKIN, JAY TIMMONS, MONICA BOSIO, Stellantis, MARTINO, AMBROGGI, DONALD TRUMP, CHRIS MCNALLY, COLIN LANGAN, AT WELLS, PATRICK ANDERSON, JOHN MURPHY, Ford, ROBERT STREDA, DBRS, SUZANNE CLARK, Biden, Joseph White, David Shepardson, Trevor Hunnicutt, Peter Henderson, Heekyong Yang, Daniel Leussink, Giulio Piovaccari, Mehr Bedi, Medha Singh, Anne Marie Roantree, Jamie Freed, Savio D'Souza, Arun Koyyur Organizations: United Auto Workers, UAW, General Motors, Ford, Chrysler, Ford Bronco, Chevrolet, CNBC, GM, SBI, EUGENE, South, CORNELL SCHOOL, Company, DEMOCRATIC U.S, ELISSA SLOTKIN OF, NATIONAL ASSOCIATION, American Consumer, ISI, AT, Detroit, Thomson Locations: Chevrolet Colorado, Detroit, United States, ELISSA SLOTKIN OF MICHIGAN, China, Washington, San Francisco, Seoul, Tokyo, Milan, Bengaluru

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ Explainer: Auto industry on tenterhooks as UAW kicks off talks with 'Detroit Three'
▼ + stars: | 2023-07-13 | by ( Nathan Gomes | ) www.reuters.com time to read: +6 min

REUTERS/Rebecca Cook/File PhotoJuly 12 (Reuters) - The United Auto Workers (UAW) union will start contract talks with the Detroit Three automakers beginning Thursday, ahead of the mid-September expiration of current four-year labor deals. WHO IS THE UNION NEGOTIATING WITH? The U.S. labor union will officially open talks first with Stellantis, followed by Ford on Friday and GM on Tuesday. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike that shut down its profitable U.S. operations. Fain who took helm of the union in March, has been a UAW member for more than two decades.

Persons: Rebecca Cook, Shawn Fain, Fain, They've, Biden, Tesla, Jim Farley, Ford, Stellantis, GM's, Wells, Colin Langan, Fitch, Steve Brown, Nathan Gomes, Ben Klayman, Shounak Dasgupta Organizations: REUTERS, United Auto Workers, UAW, Detroit Three, General Motors, Ford, Detroit, WHO, GM, EV, Detroit Free Press, Lear Corp, Thomson Locations: Auburn Hills , Michigan, U.S, Detroit, United States, Stellantis, American, Bengaluru, Ben

☆ Lithium has started coming back after a 'freefall' in China. What to know about the investing landscape
▼ + stars: | 2023-05-17 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Investors should focus on the long-term story in the lithium investing landscape, not the volatile price swings seen in recent months. Moves in China are driving changes in the global market for lithium as demand for electric vehicles increases, said Keybanc analyst Aleksey Yefremov. DeYoe reiterated his buy rating on Canadian producer Sigma Lithium earlier this month, calling it "the next big thing in lithium." Among the biggest names: Global X has a Lithium & Battery Tech ETF , Sprott has a Lithium Miners ETF and Horizons Global has a Lithium Producers Index ETF . "That's going to be quite a challenge, if we don't literally right now start digging up and finding sites for lithium," Langan said.

☆ Rivian Automotive's results are encouraging, though concerns remain, analysts say
▼ + stars: | 2023-05-10 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Rivian Automotive 's stronger-than-expected results could mean "accelerating growth" from here, though concerns remain for the electric vehicle maker, according to some Wall Street analysts. He also kept a $40 price target, implying the stock can nearly quadruple, jumping 188% from Tuesday's close. Meanwhile, Morgan Stanley's Adam Jonas kept an overweight rating on the stock, with a $24 price target. He has a $14 price target on the stock. "Q1 showed q/q improvement in cost, but significant progress remains to reach their positive 2024 gross margin market," Langan wrote on Tuesday.

☆ Macro concerns could drive auto lending spreads up, add pressure in auto market: WFC's Langan
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacro concerns could drive auto lending spreads up, add pressure in auto market: WFC's LanganColin Langan, Wells Fargo equity analyst, joins 'The Exchange' to discuss the recent slump in auto stocks, what would be a catalyst for the stocks Langan likes and much more.

As the image shows, on an earnings before interest and tax (EBIT) basis, Ford Model e had a profit margin of roughly negative 40% in 2022. Ford Motor disclosed on Thursday that its electric vehicle unit, called Ford Model e, lost $2.1 billion in 2022 — and could lose as much as $3 billion in 2023. Here, step by step, is how Lawler said Ford expects Model e to get to a positive 8% EBIT profit margin in under four years:Scale. Ford expects to have the capacity to build EVs at a rate of 2 million per year by the end of 2026. Ford expects to have the capacity to build EVs at a rate of 2 million per year by the end of 2026.

☆ Elon Musk's 'Master Plan' for Tesla fails to charge up investors
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

March 2 (Reuters) - Tesla Inc's (TSLA.O) shares fell 6% premarket on Thursday, after Chief Executive Elon Musk and team's four-hour presentation failed to impress investors waiting for an affordable electric vehicle and a plan with a concrete timeline. However, the event, where Musk revealed the EV maker's 'Master Plan 3', was short on details about the timeline or any new Tesla products. "The timeline and cost details were limited, and the event lacked a Tesla-like surprise," Wells Fargo analyst Colin Langan said. The reduction plan was "bad news for the whole silicon carbide production chain and in particular for STMicro," Brokerage Equita said. It estimates that Tesla accounted for 70% of 2022 semiconductor sales at STMicro.

☆ Here's what every major analyst thought of Tesla's investor day
▼ + stars: | 2023-03-02 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Analysts aren't budging on Tesla coming off an investor day that they see as offering little detail on the electric vehicle maker's future plans. Bernstein analyst Toni Sacconaghi, a noted bear on the stock, called the meeting "somewhat disjointed and fairly technical." The investor day came as investors grow increasingly cautious following Musk's chaotic purchase of Twitter and recent price cuts to some Tesla models . Wells Fargo Analyst: Colin Langan Price target: $190, a downside of 6.3% from Wednesday's close Rating: Staying equal weight "It's unclear how long the recent Model3/Y price cuts will sustain demand. There was also no comment on a Model 3/Y refresh or any major update on Tesla Bot or FSD.

☆ Watch CNBC's full interview with Colin Langan and Craig Irwin
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Colin Langan and Craig IrwinWells Fargo analyst Colin Langan and Roth Capital analyst Craig Irwin join 'Squawk on the Street' to discuss their thoughts on Tesla and the jump in the stock this morning.

☆ Winners and losers in electric vehicles as Tesla possibly ignites a price war
▼ + stars: | 2023-01-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Yet Tesla has the upper hand when it comes to being able to afford those price cuts, suggested Jefferies analyst Philippe Houchois. Both Murphy and Wells Fargo's Langan see a more challenging time ahead for Ford and General Motors as a result of Tesla's price cuts. However, Societe Generale believes Tesla price cuts remove some of the mystery that has surrounded it, and could refocus attention on positive moves by legacy automakers. One clear winner from stronger EV demand is auto suppliers, Bank of America's Murphy wrote. 'Torn' on TSLA Analysts were also quick to point out that Tesla's price cuts will no doubt affect its own bottom line.

☆ Guggenheim downgrades Tesla to sell, says fourth-quarter estimates are too optimistic
▼ + stars: | 2023-01-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Ronald Jewsikow downgraded the stock to sell from neutral over concerns with the electric vehicle maker's fourth-quarter estimates. He assigned a price target of $89, which presents a 28% downside from Thursday's close. While maintaining a hold rating on the stock, Citi analyst Itay Michaeli cut his price target to $140 from $176. Michaeli said 2023 vehicle deliveries will increase 40% in 2023, a year-over-year slowdown from a 53% growth rate. The lowered 2023 estimates have in turn pushed down longer-term estimates for Tesla, Michaeli said.

☆ EV stocks face another turbulent year, but some names are set for big gains, analysts say
▼ + stars: | 2022-12-24 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Electric vehicles remain hot Meanwhile, electric vehicles have a tailwind from new legislation. Meanwhile, Cantor Fitzgerald began coverage of Rivian on Dec. 20 with a $30 price target, which marks nearly 57% upside from Friday's close. The average analyst has a target price of $44.88 on the stock, reflecting potential upside of 134%, according to FactSet. Legacy automakers try to catch up Ford and General Motors are trying to gain ground within electric vehicle production. Goldman Sachs' Delaney said the firm currently prefers GM to Ford given its "head start" on electric vehicles.

☆ Wall Street is skeptical of GM's ambitious EV plans
▼ + stars: | 2022-11-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

DETROIT – Wall Street is skeptical of General Motors' plans to produce profitable electric vehicles years ahead of schedule and substantially bring down battery costs amid supply chain problems and broader economic concerns. GM's average rating is overweight with a 12-month target price of $47.77 per share, according to analysts compiled by FactSet. That would be years ahead of schedule and mean a dramatic decline in the automaker's battery costs amid supply chain problems, cyclical demand concerns and potential shortages in raw materials. It boosted its cash flow guidance to between $10 billion and $11 billion, up from $7 billion and $9 billion. Here are comments from other analysts as well as their ratings and price targets for GM following the investor event.

☆ Wall Street wants updates on EVs and short-term guidance from GM's investor day
▼ + stars: | 2022-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. GM will look to address such concerns during an investor event, which kicks off at 1 p.m. Analyst are expected to press executives on updates to its previously announced plans, short-term guidance and potential macro-offsets in the years ahead, especially in 2023. "At the last Investor Day, GM promised ICE-like EV margins by 2030. The company also has plans for capacity of 1 million EVs in China by then as well.

☆ Earnings playbook: How to trade a big week of results including Netflix and Goldman Sachs
▼ + stars: | 2022-10-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +13 min

Tuesday Johnson & Johnson is set to report earnings in the premarket, followed by a call at 8:30 a.m. What history shows: FactSet data shows Johnson & Johnson has beaten earnings expectations every quarter since 2011. Goldman Sachs is set to report earnings before the market open. Netflix is set to report earnings after the bell, followed by a conference call between management and analysts at 6 p.m. What history shows: American Airlines has beaten earnings expectations 89% of the time over its history, according to Bespoke.

☆ Wells Fargo cuts Tesla price target, cites rising interest rates
▼ + stars: | 2022-10-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Expect rising interest rates to weigh on Tesla moving forward, Wells Fargo says. "While IRA will help in 2023, the economy and interest rates likely will not, particularly in Europe where an energy crisis looms," Langan wrote. Despite the target cut, Langan upped earnings per share estimates for Tesla, citing benefits from the Inflation Reduction Act and foreign exchange headwinds. Wells Fargo also expects a strong dollar to weigh on the company's average selling price. "We forecast a slight Q3 beat as the benefit of pricing will likely be offset by FX headwinds," Langan wrote.

☆ Ford shares fall 10% on warning of higher inflation-related supply costs
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. "The inflationary costs are concerning as they could persist into Q4 and 2023," Wells Fargo analyst Colin Langan said. It was unclear if chip and parts supply will normalize by the end of the year, Deutsche Bank's Rosner said. Ford's shares were trading at $13.52, with the stock on track for the worst day since February if losses hold. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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