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☆ Americans just can’t quit their giant, gas-burning trucks
▼ + stars: | 2024-08-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

A ‘harsh reality’ for EVsFord likes to brag about its growing EV sales, but its profit is still primarily coming from the sales of gasoline powered trucks and SUVs. Ford isn’t the only automaker pulling back on its EV plans and making new investment in ICE vehicles. This is not to say that the traditional automakers are dropping their EV plans altogether or that EV sales are falling. But EV sales, which initially grew at a double-digit pace, haven’t shot up exponentially as automakers hoped or expected. That uncertainty about the future of US EV incentives prompted automakers to reconsider their earlier EV plans.

Persons: Ford, ” Ford, Jim Farley, hasn’t, EVs Ford, ”, Ivan Drury, Mary Barra, EVs, Stellantis, haven’t, Tesla, Donald Trump, Elon Musk, Carlos Tavares Organizations: New, New York CNN, EVs, Canadian, Ford, Super, Kentucky, Super Duty, Ford’s, Ford Expedition, GM, ICE, United Auto Workers, “ Locations: New York, Oakville , Ontario, Toronto, Mexico, Oakville, Kentucky, Ohio, EVs, United States, Edmunds, North America, Europe

☆ Ford Will Make Gasoline Trucks, Not Electric Vehicles, in Ontario Plant
▼ + stars: | 2024-07-18 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Ford Motor said on Thursday it would retool a plant in Canada to produce large pickup trucks rather than the electric sport-utility vehicles it had previously planned to make there. The Ford plant, in Oakville, Ontario, recently stopped making the gasoline-powered Ford Edge S.U.V., and was slated to shift to new electric versions of the Ford Explorer and Lincoln Aviator, both three-row S.U.V.s. Instead, Ford will turn the factory in Oakville into a third production location for its Super Duty pickup trucks, which are among its most profitable models. Jim Farley, the chief executive of Ford, said the company’s two other Super Duty plants, in Kentucky and Ohio, were running at full capacity but couldn’t produce as many vehicles as its commercial customers wanted. Super Duty trucks are typically used to haul heavy equipment and materials by building contractors, oil and gas companies and other businesses.

Persons: General Motors, Ford, Jim Farley Organizations: Ford, General, Ford Edge, Ford Explorer, Lincoln Aviator, Duty Locations: Canada, Oakville , Ontario, Oakville, Kentucky, Ohio

☆ Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
▼ + stars: | 2024-07-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub. The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford's Oakville Assembly Complex in Ontario, Canada, Ford said Thursday. The remaining investment will be used to increase production at supporting facilities in the U.S. and Canada, the company said. Ford currently produces Super Duty trucks – the larger siblings of the F-150 full-size pickup used largely by commercial and business customers – at plants in Ohio and Kentucky. Ford said the Canadian plant, which is expected to come online in 2026, will add capacity of roughly 100,000 units annually.

Persons: Ford, Jim Farley Organizations: DETROIT, Ford, Kentucky, Plant, Ford Pro Locations: Canadian, Oakville, Ontario, Canada, U.S, Ohio, Kentucky

☆ There's a simple solution to make wine more sustainable: sheep
▼ + stars: | 2024-05-12 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +6 min

Now, Whitehall Lane Winery has eight vineyards, including six in Napa Valley and two in Sonoma Valley. "The whole country is dotted with cows and sheep," Moulton said, referring to the 9.6 million cattle and 26 million sheep that live there. Whitehall Lane Winery. Whitehall Lane Winery. Whitehall Lane Winery.

Persons: Jason Moulton, Moulton, They'll Organizations: Service, Sonoma Valley ., American Sheep Industry, Lincoln University Viticulture Locations: Whitehall Lane, Oakville, United States, Napa Valley, Helena, Sonoma Valley, New Zealand, Lincoln, Auckland, Hawke's, It's, Whitehall Lane Winery, Whitehall, Nevada, Moulton

☆ Why Warren Buffett’s shareholders line up at 2 a.m. to see him in Omaha: He’s 'the guy who changed our life'
▼ + stars: | 2024-05-04 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Such is the scene every year at the shareholders meeting at Berkshire Hathaway , the $826 billion conglomerate helmed by the Oracle of Omaha himself, Warren Buffett . And I wanted to see Warren Buffett in person. Warren Buffett is the guy who changed our life. So we appreciate what Warren Buffett brought us. Or you can come here, see Warren Buffett in person, and just enjoy the conference.

Persons: Buffett, Warren Buffett, James F, Walter Chang, Graham, Dodd, Warren, Charlie, Matt McAllister, Omaha's, Jason Garner, James Hunt, Nathan Prottsman, It's, We're, Munger, Barbara Govan, Charlie Munger, Yuan Fang, Tom Keady, That's, Giuliano Guarino, Eleanor Abney, Hayden, Parker McIntosh Organizations: CNBC, Berkshire Hathaway, Oracle, CHI, Center, Berkshire Locations: Omaha, Berkshire, Fairhope , Alabama, Taipei, Taiwan, Oakville, Canada, South Africa, Omaha , Nebraska, Houston , Texas, Dublin, Ireland, New Market , Maryland, Milan, Italy, Louisville , Kentucky

☆ Dollar gains after US consumer prices rise more than expected
▼ + stars: | 2023-10-12 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

NEW YORK, Oct 12 (Reuters) - The dollar rose sharply on Thursday after U.S. consumer prices rose more than expected in September, lifted by an elevated cost of rent that raised the prospect of the Federal Reserve keeping interest rates high for some time. The consumer price index increased 0.4% last month, with a 0.6% jump in the cost of shelter accounting for more than half of the rise. The dollar rose more than 1% against sterling, and the Australian and New Zealand dollars. Owners' equivalent rent, a measure of the amount homeowners would pay to rent or would earn from renting their property, rose even though non-official sources show a decline in rental prices. Thursday's CPI release came after Wednesday's mixed report on U.S. producer prices, and minutes from the Fed's September meeting.

Persons: Douglas Porter, Bipan Rai, Thierry Wizman, Wizman, BoE, Wednesday's, Herbert Lash, Alun John, Ankur Banerjee, Emelia Sithole, Mark Potter, Jonathan Oatis Organizations: Federal Reserve, Labor, BMO Capital Markets, Reuters, New, CIBC Capital Markets, Fed, Bank of England, CPI, Swiss, Thomson Locations: Oakville, Canada, New Zealand, North America, Toronto, New York, London, Bengaluru, Singapore

☆ The scandal over a standing ovation for a Nazi veteran is now raising questions about a cemetery monument in Canada that honors his Waffen SS unit
▼ + stars: | 2023-09-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

The gaffe rekindled calls for a monument honoring his unit to be removed from a Canadian cemetery. Yaroslav Hunka served in the 14th Waffen SS Division, a voluntary unit of mostly Ukrainians. Now a monument honoring Hunka's unit in Oakville's St Volodymyr Ukrainian Cemetery is under fire again after his appearance made headlines. It was vandalized with graffiti in 2020, when someone spray-painted the words "Nazi war monument" on its face, reported The Ottawa Citizen. "The bottom line is that this unit, the 14th SS unit, were Nazis," B'nai Brith Canada leader Michael Mostyn told the outlet.

Persons: Yaroslav Hunka, —, Justin Trudeau, Volodymyr Zelenskyy, Dan Panneton, Simon Wiesenthal, David Marples, Michael Mostyn, Marples, Hunka Organizations: Waffen SS Division, Service, Grenadier Division, Waffen SS, Oakville's St Volodymyr Ukrainian Cemetery, Simon Wiesenthal Center, Holocaust Studies, Canadian, Global, 14th SS Division, Ottawa Citizen, Russian Embassy, B'nai, Galicia Division, University of Alberta, BBC, 14th SS Locations: Nazi Germany, Nazi, Oakville's St Volodymyr, Toronto, Galicia, Russian, Ottawa, Canada, Russia, Eastern, Ukraine, Polish, Poland

DETROIT, Sept 20 (Reuters) - Talks were ongoing on Wednesday between union representatives and company management in the sixth day of the United Auto Workers strike at the Detroit Three automakers, a day after Ford (F.N) averted a walkout by Canadian workers. The UAW launched a strike against Ford, General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI) last week, targeting one U.S. assembly plant at each company. The UAW's coordinated U.S. action led to about 12,700 workers going on strike last week. Ford reached a last-minute deal to avoid a walkout at its Canadian operations late on Tuesday. Unifor, which represents about 5,600 Canadian auto workers, had been threatening to go on strike at all three of Ford's plants in that country if a deal was not reached by late on Tuesday.

Persons: Ford, Mark Reuss, Carlos Osorio, Ram, Unifor, Stellantis, Anirudh Saligrama, David Shepardson, Ben Klayman, Will Dunham, Richard Chang, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit Three, Ford, UAW, General Motors, Chrysler, Ford Bronco, Chevrolet, Motors, Detroit, Detroit Free Press, Plant, REUTERS, GM's, Silverado, GM, RSM, Kokomo, Thomson Locations: Michigan , Ohio, Missouri, Chevrolet Colorado, Kansas, Oakville, Oakville , Ontario, Canada, Ford Canada, Canadian, Ohio, Indiana, Toledo, Kokomo , Indiana, Bengaluru, Washington, Detroit

☆ Ford avoids Canadian auto strike with union deal
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows recently manufactured vehicles at Ford's Oakville Assembly Plant in Oakville, Ontario, Canada May 26, 2023. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsSept 20 (Reuters) - The U.S. auto sector avoided more pain as Ford (F.N) late on Tuesday reached a tentative deal with a Canadian union even as the Detroit Three automakers face the possible escalation of separate coordinated U.S. strikes by the United Auto Workers union. Unifor, which represents about 5,600 Canadian auto workers, were threatening to go on strike at all three of Ford's plants in the country if a deal was not reached by 11:59 p.m. on Tuesday (0359 GMT on Wednesday). "We leveraged our union’s most powerful weapon: the right to strike," Unifor said of the tentative deal in a statement. The UAW has said it will announce strikes against more U.S. plants on Friday if no serious progress is made in talks with automakers.

Persons: Carlos Osorio, Unifor, Unifor's, Stellantis's Ram, Anirudh Saligrama, Ben Klayman, Richard Chang, Jamie Freed Organizations: Plant, REUTERS, Tuesday, Detroit Three, United Auto Workers, Ford, General Motors, Chrysler, Detroit Three automakers, Ford Bronco, Chevrolet, UAW, GM's, Silverado, Thomson Locations: Oakville, Oakville , Ontario, Canada, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Bengaluru, Ben, Detroit

☆ Ford avoids Canadian auto strike with Unifor union deal
▼ + stars: | 2023-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Lana Payne speaks to delegates after being elected as president of UNIFOR, Canada's largest private sector union, at the Metro Toronto Convention Centre on Aug. 10, 2022. The Canadian tentative agreement was reached on day five of the United Auto Workers union initiating targeted strikes against Ford and its crosstown rivals General Motors and Chrysler-parent Stellantis . DETROIT – Ford Motor avoided having to face labor strikes on both sides of the U.S.-Canada border Tuesday night, as the automaker and Canadian union Unifor announced a tentative deal covering 5,600 autoworkers in the country's Ontario providence. Unifor, which represents 18,000 Canadian workers at the Detroit automakers, took a more traditional approach to its negotiations than its U.S. counterpart did. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Lana Payne, UNIFOR, Unifor, Ford, Shawn Fain Organizations: Metro Toronto Convention, Plant, Ford Edge, Lincoln Nautilus, Ford, United Auto Workers, General Motors, Chrysler, Detroit, Ford Motor, U.S ., Detroit automakers, U.S, GM, UAW Locations: Oakville, Unifor, DETROIT, U.S, Canada, Ontario, autoworkers, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

The UAW last week launched a strike against Ford (F.N), General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), targeting one U.S. assembly plant at each company. The union said early on Tuesday that negotiations had been extended for 24 hours after it received a "substantive offer" from Ford. [1/2]An aerial view shows recently manufactured vehicles at Ford's Oakville Assembly Plant in Oakville, Ontario, Canada May 26, 2023. Once the Ford deal is completed, Unifor will turn to getting agreements with GM and Stellantis, whose deadlines were extended during the talks with Ford. The UAW at one point during the talks offered to lower its demand to 36%.

Persons: We're, Shawn Fain, Ford, Lana Payne, Carlos Osorio, Unifor, Janet Yellen, Stellantis's Ram, Jahnavi, Ben Klayman, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit Three, UAW, Ford, General Motors, Chrysler, Plant, REUTERS, GM, Reuters Graphics, Detroit automakers, Ford Bronco, Chevrolet, Michigan Bronco, GM's, Silverado, Thomson Locations: Canadian, Canada, Ford, United States, Ontario, Kentucky, Dearborn , Michigan, Kansas City , Missouri, North America, Oakville, Oakville , Ontario, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Kansas, Bengaluru, Ben, Detroit

☆ Ford barrels toward new Canadian strike that could affect F-Series pickup production
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

A Unifor strike would disrupt Ford's Oakville Assembly Plant that produces the Ford Edge and Lincoln Nautilus crossovers. F-Series, Mustang could be disruptedIf a prolonged Canadian strike occurs, the work stoppage could eventually impact U.S. production of the vehicles. Gasoline V8 models make up about 50% of Mustang and 20% of F-150 models sold in the U.S. Large F-Series trucks exclusively have V8 engines. But a majority of those vehicles sold have diesel V8 engines rather than gasoline, according to the company. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Ford, Carlos Osorio, Wheaton, Lana Payne, Jerry Dias, Cole Burston Organizations: Ford DETROIT, Ford, United Auto Workers, General Motors, Chrysler, Plant, Ford Edge, Lincoln Nautilus, Reuters, Detroit, UAW, Worker Institute, Cornell University, Unifor, Detroit automakers, U.S, Canadian Locations: Oakville, Oakville , Ontario, Canada, U.S, Mexico, Toronto , Ontario

☆ Ford also faces strike at Canadian plants Monday night
▼ + stars: | 2023-09-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Unifor, the union that represents autoworkers in Canada, is preparing to go on strike against Ford on Monday night. The 3,400 Unifor members at the plant produce the Ford Edge and the Lincoln Nautilus SUVs. The two plants have a total of 1,700 Unifor members. It has not had a US strike since 1978, nor a Canadian strike since 1990. But Payne said her members at Ford are prepared to strike Monday night if the company doesn’t step up to its demands.

Persons: Ford, Lana Payne, “ We’re, ” Payne, –, Jeff Schuster, ”, Payne, she’s, Unifor, ” Ford Organizations: New, New York CNN, United Auto Workers, Ford, CNN, UAW, Ford Edge, Lincoln Nautilus, Nautilus, – Ford, General Motors, North American, Jeep, Dodge, Chrysler, GlobalData, GM, Canadian, US Locations: New York, Canada, Toronto, Oakville , Ontario, Windsor , Ontario, Detroit, Windsor, Warren , Michigan, United States, Mexico, America

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☆ Ford unveils new Lincoln Nautilus to be imported from China
▼ + stars: | 2023-04-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ford Motor will import its next-generation Lincoln Nautilus from China to the U.S., the company said Monday night. This marks the first time Lincoln will import a vehicle to the U.S. from China. Importing a vehicle from China to the U.S. is not unprecedented but can draw public and political criticism or backlash, especially when tensions between the two countries are high. Most notably, General Motors has been criticized for importing its Buick Envision crossover from China to the U.S. since 2016. Importing a vehicle from overseas to the U.S. can make good business sense, however, for a company such as Ford.

Ford officials declined to say whether the plant will assemble five EV models, as agreed with Unifor during the 2020 contract talks. The Oakville plant currently builds combustion Ford Edge and Lincoln Nautilus SUVs. Ford Chief Executive Jim Farley has said Ford will have the ability to assemble 2 million EVs globally by 2026. Ford officials said Oakville will build the automaker's next-generation EVs, which Ford executives have said will have to be more efficient, easier to assemble and more competitive with the Tesla Inc (TSLA.O) vehicles that currently lead in North American market EV sales. Battery cells for the Oakville-built EVs will come from a factory Ford and battery partner SK On plan are building in Kentucky, Nowicki said.

☆ Ford to invest $1.3 billion to build EV manufacturing hub in Canada
▼ + stars: | 2023-04-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor will invest 1.8 billion Canadian dollars (about $1.3 billion) in its Oakville Assembly Plant in Ontario, Canada, to transition the facility into a new electric vehicle hub, the automaker said Tuesday. The plant, which will be renamed the Oakville Electric Vehicle Complex, will build the company's next-generation EVs that are expected to arrive to market around mid-decade. The retooling is expected to take six months and begin in the second quarter of next year, Ford said. Ford declined to disclose the plant's expected production capacity or how many electric vehicle models the retooled facility will build. The Oakville plant will continue to build the gas-powered Ford Edge and Lincoln Nautilus crossovers up until the plant's downtime next year.

☆ Ford doubles down on EVs, while Wall Street looks to Disney for answers. Here's our take on these Club stocks
▼ + stars: | 2023-04-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Walt Disney (DIS) is facing skepticism from Wall Street over its streaming strategy and softer growth at its parks, while Ford Motor (F) is expanding its electric vehicle production. Disney currently owns a 66% stake in Hulu, while its other streaming platforms include Disney+ and ESPN+. Ford Motor The news: Club holding Ford on Tuesday announced a $1.3 billion investment in its Oakville assembly plant in Ontario, Canada. F 1Y mountain Ford (F) one-year performance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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