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☆ Ford again hikes the starting price of the F-150 Lighting pickup, now up 40% since launch
▼ + stars: | 2022-12-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor has once again increased the starting price of its electric F-150 Lightning, citing higher raw material costs for the pickup truck. A Ford spokeswoman in an emailed statement Friday said the company adjusts vehicle pricing "as a normal course of business due to rising material costs, market factors, and ongoing supply chain constraints." Ford initially made waves when it announced the starting price for the Lightning would be about $40,000, making it more affordable than many EVs on the market. But critical raw material costs such as cobalt, nickel and lithium have substantially increased amid rising demand and supply chain problems. Through the end of November, Ford had only sold 13,258 F-150 Lightnings.

☆ Ford's CEO wants to end haggling for electric car sales — and he's gotten two-thirds of US dealers to agree
▼ + stars: | 2022-12-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

1,920 Ford dealers have signed on for a controversial EV sales program. They say the EV sales requirements set by Ford violate franchise laws with illegal pricing requirements and unlawful allocation systems. There are two tiers to the EV sales program: Certified Elite and Certified. In the elite track, dealers are required to invest up to $1.2 million in facility upgrades and training for staff. On the certified track, the investment requirement is lower – $500,000 – but caps allotted EV sales at the dealership to 25 per year.

☆ Ford claims No. 2 spot in EVs behind Tesla – but gap remains wide
▼ + stars: | 2022-12-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Tesla remains the industry leader by a wide margin, but has been losing market share as more EVs enter the market. The company reported sales of 53,752 all-electric vehicles in the U.S. through November. Tesla has long-dominated U.S. EV sales. Ford reported its EV sales as part of its November results, which overall were down 7.8% from a year earlier. Its EV sales were up from a year ago, when sales volume was very limited.

☆ Ford working to build its own parts for electric vehicles to offset job losses
▼ + stars: | 2022-11-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor is attempting to build as many of its own parts as possible for its electric vehicles to offset an expected 40% reduction in workers needed to build such cars and trucks, CEO Jim Farley said Tuesday. In addition to making sense for the business, he said retaining the jobs and workforce is another reason Ford wants to build more parts in-house rather than purchasing them from suppliers. Ford is building twin lithium-ion battery plants in central Kentucky through a joint venture with South Korea-based SK Innovation, called BlueOvalSK, as well as a massive 3,600-acre campus in west Tennessee. Farley said the company would be "thrilled" to have union representation at its upcoming battery plants. The comments come as the United Auto Workers union is attempting to organize a joint-venture battery plant between General Motors and LG Energy Solution in Ohio.

☆ Ford's October sales slide 10% amid supply chain issues
▼ + stars: | 2022-11-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – Ford Motor's U.S. sales last month declined by 10% as the automaker battled through supply chain issues that delayed shipments to dealers. Ford has experienced unique supply chain issues lately, including sourcing of its blue oval badges for highly profitable pickup trucks and SUVs. Ford said orders for 2023 model-year vehicles totaled 255,000. Ford's 2022 all-electric vehicle sales totaled roughly 47,500 units through October, accounting for about 3% of the automaker's sales. Ford is among a handful of automakers to report new monthly vehicle sales.

☆ Ford Motor is set to report earnings after the bell. Here's what Wall Street expects
▼ + stars: | 2022-10-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor is set to report its third-quarter earnings after the bell on Wednesday. Still, the company reaffirmed its full-year guidance, saying it expected to deliver the unfinished vehicles to dealers in the fourth quarter. The auto industry's earnings and forecasts are being closely watched by investors for any signs that consumer demand could be weakening amid rising interest rates and looming recession fears. Ford's earnings come a day after crosstown rival General Motors significantly outperformed Wall Street's earnings expectations but slightly missed on revenue. GM said that demand for its products remains strong despite outside economic concerns and rising interest rates.

☆ Ford unveils new F-Series Super Duty trucks designed to boost its commercial, software services businesses
▼ + stars: | 2022-09-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor is redesigning a pivotal product lineup, leaning on new software and connected data metrics, to boost profits in its commercial vehicle business. The Detroit automaker on Tuesday revealed its 2023 F-Series Super Duty trucks, a lineup of vehicles ranging from large pickups to commercial trucks and chassis cabs that are used for emergency response, towing and plowing, and construction or utility work. Super Duty is the size of revenue of Southwest Airlines, Marriott or Nordstrom. Cannis declined to disclose revenue for Ford's Super Duty lineup, but Southwest, Marriott and Nordstrom most recently reported annual revenues of between $14 billion and $16 billion. Super Duty trucks have more than 50% market share in utility, mining, construction and emergency response vehicles, according to Ford, citing data from S&P Global Mobility.

☆ Ford to restructure supply chain following $1 billion in unexpected quarterly costs
▼ + stars: | 2022-09-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor on Thursday announced plans to restructure its global supply chain, days after the company said it expects to book an extra $1 billion in unexpected supplier costs during the third quarter. The supply chain restructuring aims to "support efficient and reliable sourcing of components, internal development of key technologies and capabilities, and world-class cost and quality execution," the automaker said in a release. The increases have occurred amid severe supply chain problems, including an ongoing global shortage of crucial semiconductor chips. On Monday, Ford said recent negotiations resulted in inflation-related supplier costs running $1 billion higher than previously expected during the third quarter. He said changes to Ford's supply chain have been underway for some time amid the industry's supply chain problems and its shift to electric vehicles.

☆ Ford stock on pace for worst day in more than 11 years after cost warning
▼ + stars: | 2022-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor's stock is on pace for its worst day in more than 11 years, after the automaker pre-released part of its third-quarter earnings report and warned investors of $1 billion in unexpected supplier costs. Shares of Ford were trading at about $13.10 apiece Tuesday afternoon, down by more than 12%. If the losses hold into the close, it would knock roughly $7 billion off the company's market value. That would be significantly below the forecasts of some analysts, who were projecting quarterly profit closer to $3 billion. Ford cited recent negotiations resulting in inflation-related supplier costs that will run about $1 billion higher than originally expected.

☆ Ford warns investors of an extra $1 billion in supply chain costs during the third quarter
▼ + stars: | 2022-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor on Monday warned investors that the company expects to incur $1 billion more in costs than previously expected during the third quarter due to inflation and supply chain issues. Ford said based on recent negotiations, inflation-related supplier costs during the third quarter will run about $1 billion higher than originally expected. The automaker anticipates third-quarter adjusted earnings before interest and taxes to be in the range of $1.4 billion to $1.7 billion. Automakers have been battling supply chain problems since the coronavirus pandemic brought manufacturing to a standstill in early 2020. GM on July 1 warned investors that supply chain issues would impact its second-quarter earnings, as it had about 95,000 vehicles in its inventory that were manufactured without certain components.

☆ Why Ford is keeping its Mustang gas-powered as part of its electric vehicle push
▼ + stars: | 2022-09-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

That's because despite the EV transition, Mustang is sticking with gas-powered engines for the seventh-generation vehicle in 2024. "People are leaving the segment, like Dodge, so we have a chance to really present something new about Mustang," Farley said following the 2024 Mustang debut. Farley and Ford Chair Bill Ford declined to say whether the seventh-generation Mustang is expected to be the last gas-powered version of the car. The Mach-E, which shares little to nothing with the gas-powered Mustang other than a name, has led Ford to become the second bestselling brand of EVs in the country. U.S. President Joe Biden stands next to a Ford Mustang Mach-E (electric) SUV during a visit to the Detroit Auto Show, to highlight electric vehicle manufacturing in America, in Detroit, Michigan, September 14, 2022.

☆ Ford asks dealers to invest in EVs as it chases Tesla-like profit
▼ + stars: | 2022-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022. Ford is offering its dealers the option to become "EV-certified" under one of two programs — with investments of $500,000 or $1.2 million. Dealers in the higher tier, which carries upfront costs of $900,000, will receive "elite" certification and be allocated more EVs, executives said. It's an effort to elevate Ford dealers as the company seeks to grow sales across its traditional and commercial businesses as well as EVs. Tesla and other electric vehicle startups sell directly to consumers without franchised dealers.

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