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Consumer sentiment dipped slightly in September, indicating Americans are tentative about the direction of the economy, according to the latest survey-based index from the University of Michigan. The overall consumer sentiment index, released on Friday, retreated to 67.7 from 69.5 in August, while the current conditions assessment dropped to 69.8 from 75.7 and the forward-looking expectations index increased to 66.3 from 65.5. “Sentiment this month was characterized by divergent movements across index components and across demographic groups with little net change from last month. There was improvement in how consumers see inflation going forward. That means workers are keeping just ahead of inflation, although prices for necessities such as groceries and gasoline have increased.

Persons: ”, Joanne Hsu, “, ” Hsu, ” Bernard Baumohl, Baumohl, “ They’re, Joe Biden, – Ford, Peter Berezin Organizations: University of Michigan, Consumers, San Francisco Federal Reserve Bank, Economic Outlook, Supreme, United Auto Workers, General Motors, Senate, Fed, BCA Research, Global Locations: Saudi Arabia, Russia, U.S

"Let's be clear: No one wants a strike," Biden said, hours after UAW launched a targeted strike against all three Detroit automakers. Record profits, Biden said, should result in "record contracts" for workers. UAW is calling the campaign the "Stand Up Strike," an homage to the 1936-37 historic "Sit Down Strike" against General Motors in Flint, Michigan, that inaugurated the domestic auto workers labor union movement. The Big Three have offered the union about half of the pay increase UAW is seeking. "The auto workers are being sold down the river by their leadership, and their leadership should endorse Trump," the GOP's 2024 front-runner said in an interview set to run Sunday on "Meet the Press."

Persons: Joe Biden, ”, Biden, Julie Su, Gene Sperling, –, EPI, ” Ford, Jim Farley, Farley, Donald Trump, Trump Organizations: Automobile, United Auto Workers, White, UAW, Detroit automakers, Workers, Big Three, – Ford, General Motors, Economic Policy Institute, Management, CNBC, CNN, NBC, Press Locations: Detroit, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio, Flint , Michigan, Michigan

☆ Ford CEO rebuffs UAW leader's criticisms as strike deadline on Thursday approaches
▼ + stars: | 2023-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ford CEO Jim Farley speaks with media after revealing the 2024 Ford F-150 for the Detroit auto show on Sept. 12, 2023. Farley said the company has received "no genuine counteroffer" on its four economic proposals, including the latest offer that Ford is calling the most generous offer ever between the UAW and company. He also said Fain, who is simultaneously negotiating with General Motors and Stellantis , was absent during a Tuesday meeting that he and Ford Chair Bill Ford expected Fain to attend. Public criticism between the union and an automaker aren't unprecedented but the amount of detail being released, announced strike plans and simultaneous bargaining certainly are. Farley said he didn't know Fain had received the offer until he was discussing it during a 5 p.m. Facebook Live with union members.

Persons: Jim Farley, Shawn Fain, Farley, Fain, Bill Ford, didn't Organizations: Detroit, DETROIT, Ford Motor, United Auto Workers, Ford, UAW, General Motors, Detroit Auto, Facebook

☆ Ford hires Apple veteran to lead consumer software efforts
▼ + stars: | 2023-08-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor said Monday that it has hired Apple veteran Peter Stern to lead a newly created division focused on developing and marketing software-enabled customer experiences for the automaker. Stern, who most recently served as vice president of services at Apple, will be president of "Ford Integrated Services." "This is transformational, because the cornerstone of our Ford+ plan is creating incredible customer services and experiences enabled by great hardware and software," Ford CEO Jim Farley said in a release. "There's simply no one in the world better able than Peter Stern to build this strategically vital part of our business." Stern said he will be focused on "customer experiences that feel like magic."

Persons: Peter Stern, Stern, Ford, Jim Farley, There's, Farley Organizations: DETROIT, Ford, Apple, Ford Integrated Services Locations: Washington , DC

Biden and UAW President Shawn Fain met briefly in the West Wing last month while UAW leadership was at the White House briefing senior staff on their positions. Fain has publicly warned that UAW is prepared to strike, saying nearly 150,000 members will strike if the three automakers do not meet their demands. Ford pointed out that it employs more UAW members and builds more cars and trucks at US plants than any other automaker. For the most part, those plants are joint ventures between automakers and battery makers, and thus will not be covered under the UAW contracts with the Big Three. But the union has yet to reach a deal with plant management on a contract, and workers there are paid about half of what UAW members are paid at the Big Three.

Persons: Joe Biden, –, —, ” Biden, Biden’s, Shawn Fain, Fain, Biden, ”, “, ” Ford, Stellantis, Ford, “ Stellantis, Vanessa Yurkevich Organizations: Washington DC CNN, United Auto Workers, – Ford, General Motors, “, AFL, CIO, UAW, Biden, Wing, White, Ford, Dodge, Chrysler, EV, CNN, Big, GM, Workers, LG Locations: Warren , Ohio

Ford Motor Company's electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022. DETROIT – Ford Motor 's second-quarter sales increased 9.9% from a year earlier, spurred by significant sales gains of its F-Series trucks. "Our EV sales continue to grow. Improved Mustang Mach-E inventory flow began to hit at the end of Q2 following the retooling of our plant earlier this year, which helped Mustang Mach-E sales climb 110% in June." Ford's electric vehicle sales remain small for now: EVs represented just 2.8% of the automaker's total sales during the second quarter, while traditional internal combustion engines represented roughly 91% of sales.

Persons: Ford, Andrew Frick, EVs Organizations: Ford, Electric Vehicle, DETROIT, Detroit, EV Locations: Dearborn , Michigan

☆ Tesla stock's sizzling rally won't last as old-guard rivals like Ford and GM pile into the EV space, analyst says
▼ + stars: | 2023-06-30 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Tesla's sizzling rally won't last forever due to old-guard rivals like Ford producing more EVs, according to one analyst. The tech giant's shares have soared 109% in 2023 thanks to a breakneck rally since late April. But some of Wall Street's biggest names – including Goldman Sachs and Morgan Stanley – are warning the stock now looks overvalued. Tesla's stock has soared 109% in 2023, on track for the biggest six-month gain since 2020. Read more: Tesla stock's best run since 2020 is spoilt by Wall Street downgrades as Goldman Sachs, Morgan Stanley flag overvaluation risks

Persons: Tesla's, Goldman Sachs, Morgan Stanley –, —, Craig Irwin, I've, you've, – Ford, General Motors, that's, Tesla, Musk, Linda Yaccarino, Morgan Stanley, Irwin Organizations: Service, ROTH Capital Partners, Elon, Ford, GM ramping, Yahoo Finance, General, Big Tech, EV, Barclays, Yahoo, Tesla Locations: Wall

DETROIT – Ford Motor will partner with Tesla on charging initiatives for its current and future electric vehicles in an unusual tie-up between the two rivals, CEOs of the automakers announced Thursday. Under the agreement current Ford owners will be granted access to more than 12,000 Tesla Superchargers across the U.S. and Canada, starting early next year, via the use of an adapter. And, Ford's next-generation of EVs — expected by mid-decade — will include Tesla's charging plug, allowing owners of Ford vehicles to charge at Tesla Superchargers without an adapter, making Ford among the first automakers to explicitly tie into the network. A Ford spokesman said the company has "this option available to us but have no news to share today." A separate Ford spokesman told CNBC that pricing for charging "will be competitive in the marketplace."

DEARBORN, Mich. – Ford Motor is making its case to Wall Street at an investor event Monday, sharing details of its plan to profitably build millions of EVs while growing its traditional operations. Ford CEO Jim Farley kicked off the day discussing the company's growth plans for its gas-powered, fleet, and electric business units. The company's traditional car business earned $2.6 billion, and the automaker's fleet operations reported $1.4 billion in earnings. Galhotra said while the company expects its sales of traditional vehicles to begin declining after 2025 in exchange for EVs, vehicles with internal combustion engines will be around "well into" the next decade, he said. Profitably balancing the shift from traditional vehicles with engines to EVs is an increasingly difficult challenge for traditional automakers such as Ford.

☆ Ford cutting price of electric Mustang Mach-E by thousands of dollars
▼ + stars: | 2023-05-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ford Mustang Mach-E is presented at the New York International Auto Show, in Manhattan, New York City, April 5, 2023. DETROIT – Ford Motor is once again cutting the starting prices of its electric Mustang Mach-E by thousands of dollars, as the automaker increases production of the crossover and reopens order banks for the vehicle. The Detroit automaker said Tuesday it will lower pricing of the Mach-E by a range of $1,000 to $4,000. The cuts will make the starting price of the vehicle fall between $42,995 and $59,995. The cuts are the latest price adjustments in the electric vehicle market following Tesla cutting prices several times this year, but also slightly raising prices on some models this week.

☆ 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's first quarter sales increase 10.1% on improved F-Series truck production
▼ + stars: | 2023-04-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

REUTERS/Brendan McDermidDETROIT – Ford Motor on Tuesday reported a roughly 10% increase in its quarterly U.S. sales, led by jumps in its critical F-Series pickups and Bronco SUVs. Sales of Ford's trucks increased by nearly 20%, while car sales were up by 5.1% and SUVs increased by less than 1%. Ford reported sales of 170,377 F-Series pickups, up about 21% compared to a year earlier. Ford's sales increase comes as Wall Street analysts monitor rising vehicle inventories and incentives for the U.S. automotive industry following historically low levels of both during the past three years. Morgan Stanley estimates industry sales last month increased 8.7%, as automakers increase production levels following several years of significant supply chain problems.

☆ Ford’s path to electric glory requires rocket fuel
▼ + stars: | 2023-03-23 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

NEW YORK, March 23 (Reuters Breakingviews) - Ford Motor (F.N) has set itself a destination: to be a leader in electric vehicles. The U.S. auto manufacturer disclosed the losses generated by its EV business, now called Ford Model e. Investors can now better see how ambitious this journey is. Model e generated an operating loss of $2.1 billion in 2022, steeper than 2021’s hit of roughly $900 million. The automaker reiterated guidance that its electric car business, known as Ford Model e, will generate 8% operating profit margins by late 2026, from a margin of negative 41% in 2022. The company expects to reach run-rate production of 2 million electric vehicles by the end of 2026, from 96,000 last year.

Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company's Michigan plant that produces the pickup. DETROIT – Ford Motor is about to tell investors what they've long wondered: How much is the transition to electric vehicles costing? Those new business units include "Ford Blue," Ford's traditional internal combustion engine business; its "Model e" electric vehicle unit; the "Ford Pro" commercial and government fleet business; "Ford Next," which includes nonautomotive mobility solutions and other future tech; and its existing Ford Credit financial services subsidiary. The changes amount to the most detailed look yet by any legacy automaker into the finances behind the EV business. Farley and other executives have emphasized that the reporting changes aren't just about disclosure: The new format reflects the way Ford's executive team thinks about and runs the business.

☆ Ford recalling 18 electric F-150 Lightning pickup trucks after battery fire
▼ + stars: | 2023-03-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor is recalling 18 electric F-150 Lightning pickups that the company has identified as potentially having a battery cell defect that caused a truck to catch fire last month. A Ford spokeswoman declined to disclose how many trucks Ford has in holding that may have the issue. Ford said it is not aware of any reports of accident or injury related to the battery issue or recall. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. Ford initially opened customer reservations for the F-150 Lightning when it was revealed in May 2021.

☆ Ford plans to restart production of the electric F-150 Lightning on March 13
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor plans to restart production of its electric F-150 Lightning pickup on March 13 – more than a month after a battery issue caused one of the vehicles to catch fire. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. The battery issue adds to ongoing "execution issues" detailed to investors last month by Ford CEO Jim Farley that crippled the automaker's fourth-quarter earnings. Ford initially opened customer reservations for the F-150 Lightning when it was revealed in May 2021. More than 200,000 reservations were placed prior to Ford temporarily closing the process to attempt to align production with expected demand.

☆ Ford's February sales jump 22% from subdued results in 2022
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor's February sales increased by more than 20% from subdued results a year earlier, as the automaker ratchets up production of its F-Series pickups and electric vehicles. Ford's sales were hampered by supply chain problems in February 2022 making for one of its worst months since 2021. Sales of Ford's F-Series pickups increased 22% last month compared to a year earlier, increasing to about 55,000 units, including 3,600 units of its electric F-150 Lightning. So far this year, sales of F-Series pickups are up 15%. Ford's electric vehicle sales continue to increase, up 88% from a year earlier.

☆ Ford F-150 Lightning EV production to be halted at least through end of next week
▼ + stars: | 2023-02-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Ford CEO Jim Farley pats a Ford F-150 Lightning truck before announcing at a press conference that Ford Motor Company will be partnering with the world's largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. DETROIT – Ford Motor expects production of its electric F-150 Lightning pickup to be down through at least the end of next week to address a potential battery issue, the automaker said Wednesday. The investigation into the problem is expected to be completed by the end of next week, followed by adjustments to the truck's battery production process that "could take a few weeks." The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. The battery issue adds to ongoing "execution issues" detailed to investors earlier this month by Ford CEO Jim Farley that crippled the automaker's fourth-quarter earnings.

☆ Ford halts production and shipments of its electric F-150 Lightning due to potential battery issue
▼ + stars: | 2023-02-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker's Ford Rouge Electric Vehicle Center (REVC). DETROIT – Ford Motor has paused production and shipments of its electric F-150 Lightning pickup due to a potential battery issue, the company said Tuesday. Ford has not established a timeline for when production and the shipments will resume, Bergg said. Bergg said the company is unaware of any incidents or issues associated with the potential battery issue. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford.

☆ Ford to move forward with $3.5 billion EV battery plant with Chinese company
▼ + stars: | 2023-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

DETROIT – Ford Motor said Monday it will collaborate with a Chinese supplier on a new $3.5 billion battery plant for electric vehicles in Michigan, despite tensions between the U.S. and China. Glenn Youngkin saying he was withdrawing the state from a competitive process to attract the planned Ford plant over its connection to the Chinese company. The new batteries are expected to offer different benefits at a lower cost, assisting Ford in increasing EV production and profit margins. With this $3.5 billion investment, Ford says it and its battery partners have announced $17.6 billion in investments in electric vehicle and battery production in the United States since 2019. Gretchen Whitmer called the investment a "big win" for the state, which has moved to attract more battery production after missing out on previous multibillion investments.

Ford sold 91 million shares of the EV startup in 2022, according to the filing. Ford's sale of the shares was worth about $3 billion in total proceeds, the company said, a substantial gain on its $1.2 billion investment in Rivian. Ford, as of the end of last year, still owned about 11 million of its initial 101.9 million shares of Rivian. Ford first invested in Rivian in 2019, before the EV maker went public. But as a result of that initial investment, Ford was among the largest stakeholders in the company upon Rivian's blockbuster IPO in 2021, with a 12% stake.

☆ Stocks making the biggest moves midday: Amazon, Alphabet, Apple, Nordstrom, Ford and more
▼ + stars: | 2023-02-03 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Alphabet — The tech giant saw its shares drop 1% following the aftermath of its disappointing earnings report. Alphabet's posted earnings per share of $1.05 missed Refinitiv analyst consensus estimates of $1.18 per share. The company posted its largest quarterly revenue decline since 2016 as it fended off a strong dollar, China production issues and a difficult macro picture. Ford – Ford Motor shared shed 6% after fourth-quarter earnings fell short of both Wall Street and its own guidance. The Wall Street firm said the rally is driven by a short squeeze.

☆ Ford is set to report results after the bell. Here's what Wall Street expects
▼ + stars: | 2023-02-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor is set to report its fourth-quarter earnings after the bell Thursday. Here's what Wall Street is expecting, according to Refinitiv consensus estimates:Adjusted earnings per share: 62 cents62 cents Automotive revenue: $40.37 billionIn October, Ford confirmed its prior full-year guidance of adjusted earnings before interest and taxes of between $11.5 billion and $12.5 billion. Wall Street expects Ford's full-year 2023 adjusted earnings per share outlook to mark a nearly 16% decline from 2022, according to Refinitiv estimates. That's despite forecasting full-year revenue up 3.4% year over year to more than $151 billion, signaling lower operational profit compared with recent years. The automaker also forecast stronger-than-expected 2023 results, including adjusted earnings before interest and taxes of $10.5 billion to $12.5 billion and adjusted earnings per share of between $6 and $7.

☆ Ford's U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco
▼ + stars: | 2023-02-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor's new U.S. vehicle sales started 2023 on stronger footing than a year earlier, but were down 18.4% from December. The automotive industry continues to navigate through some supply chain and production issues, although the flow of parts and vehicle production this year is expected to be more consistent than in recent years. For January, Ford reported a 2% increase in sales from a year earlier to 146,356 vehicles sold. The uptick was led by sales increases of 8.8% for F-Series pickups, 25.5% for Broncos, and 52% for Bronco Sport SUVs — as well as a doubling of its electric vehicle sales, which have been and remain minimal. Some of the automaker's crossovers such as the Ford Edge and Escape experienced double-digit declines from a year earlier.

☆ Ford pickup truck sales in December help narrow overall sales decline
▼ + stars: | 2023-01-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Andrew Frick, Ford vice president of sales, distribution & trucks, said the company is "well positioned heading into 2023." Ford's 2022 sales outpaced the industry, which was estimated to be down by roughly 9%. Regarding all-electric vehicles, Ford said it was able to maintain its status as the country's second best-seller of EVs. Despite more than doubling its EV sales, Ford trails industry leader Tesla by a wide margin. The Ford brand's sales were down 2.1% last year, while the company's Luxury Lincoln brand was off by 4%.

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