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"Hybrid is a great alternative to a pure electric vehicle (and) it's an easier sell to a lot of customers." Interest in hybrids is rebounding as consumer demand for pure electrics has not accelerated as quickly as expected. Sales of pure electrics will claim about 37%, leaving combustion vehicles — including so-called “mild” hybrids — with a nearly 40% share. In addition to new pure electric models coming soon, "we are very bullish on hybrids going forward," a spokesperson said. Hyundai and sister brand Kia offer seven hybrid models, with Ford and Lincoln six.
Persons: Mike Blake, Tim Ghriskey, Ingalls, Snyder, , Sam Fiorani, Ford, Jim Farley, ” Farley, , Stellantis, GlobalData, ” Stellantis, Andrew DiFeo, Augustine, Biden, “ I've, I've, Paul Lienert, Ben Klayman, Nick Zieminski Organizations: Toyota, Los Angeles Auto, REUTERS, Rights, Ford, Reuters, AutoForecast Solutions, P Global, General Motors, Chrysler Pacifica, U.S, Lexus, Hyundai, Kia, Lincoln, Chevrolet Corvette, Thomson Locations: Los Angeles , California, U.S, America, New York, St, Jacksonville , FL, Detroit
Now Chinese automakers' next move is to capitalize on exports, a recent Morgan Stanley note said. But some of that car-buying demand in China starting to wane, according to an August 17 note from Morgan Stanley. "We're still growing our market share in China," Tesla SVP of automotive Tom Zhu said at the firm's Investor Day in March. But while early cuts might have sparked demand, Morgan Stanley analysts called "Tesla's further promotional activity of particular concern." Chinese companies are forging ahead elsewhere while domestic demand easesThird, this just means that the Chinese companies will continue their push across the globe.
Persons: Tesla, Morgan Stanley, NEVs, Ford, Jim Farley, BEV, John Lawler, Tom Zhu Organizations: EV, Morning, Tesla, Ford, GM, Automobility, Deutsche Bank, KPMG — Locations: China, Europe
[1/5] The new 2025 Ford Mustang GTD, a $300,000 limited-edition performance car, is shown in this undated company handout photo released to Reuters on August 17, 2023. Ford Motor Company/Handout via REUTERS Acquire Licensing RightsAug 17 (Reuters) - Ford Motor (F.N) is joining rival General Motors in the U.S. supercar ranks with the launch of the 2025 Mustang GTD, a limited-edition, high-performance hot rod priced from $300,000. The Mustang GTD is loosely based on the 2024 Mustang coupe that is priced from around $31,000. But the Mustang GTD really has more in common with the new Mustang GT3 racecar that is expected to compete next year at the 24 Hours of Le Mans, one of the world's premier endurance races. A spokesperson would say only that GTD production will be "more than 50 cars."
Persons: Jim Farley, Aston Martin, James Bond, Farley, Ford's, Paul Lienert, Rosalba O'Brien Organizations: Reuters, Ford Motor Company, REUTERS Acquire, Ford, General Motors, U.S, Porsche, Benz, Aston Martin, British, Cadillac, Thomson Locations: Ontario, Warren , Michigan, Detroit
Audiobook of the Week: ‘The Ghost Club’
  + stars: | 2023-08-18 | by ( Audrey Clare Farley | ) www.nytimes.com   time to read: +1 min
At the fore is Harry Price, who became chairman in 1938 after investigating paranormal activity at the Borley Rectory in Essex, which he called the “most haunted house in England.” Professing that scientific rigor could legitimize the study of the afterlife, Price debunked lore about a phantom nun on the grounds but claimed to have observed other ghostly goings-on, such as tapping on the windows and servant bells ringing after their wires had been cut. He drew both acclaim and criticism, leaving Dawson to wonder: “Who was Harry Price — a genius or a grifter? A conjurer or a con?”Dawson is less skeptical of the wider cultural appeal of spiritualism. Perhaps she’s right that war, industrialization and the Titanic’s sinking stirred metaphysical yearnings, but after listeners hear offhand mentions of club members’ commitments to colonialism and Christian Zionism — and if they have any outside knowledge of the occult origins of the Third Reich — listeners may wonder if there’s more to the story. Audrey Clare Farley is the author, most recently, of “Girls and Their Monsters: The Genain Quadruplets and the Making of Madness in America.”THE GHOST CLUB | By Kate Winkler Dawson | Read by the author | Penguin Audio | 4 hours, 1 minute
Persons: Harry Price, , Price, Dawson, Harry Price —, ” Dawson, offhand, Zionism —, Audrey Clare Farley, Kate Winkler Dawson, Read Organizations: Zionism, Reich, , Penguin Locations: Essex, England, America
Tesla and automakers in China have found ease and success in having fewer options. Car buyers like having options — but as the Tesla and Chinese automakers continue to find success in electric vehicles, old-guard automakers would do well to force buyers to compromise. Elon Musk's automaker has pared down the build options it gives customers to fewer color options and interior choices, limited trims, and many features that simply come standard. The lack of build complexity has been an advantage for Tesla, startup EV makers, and Chinese competitors, experts say. "A number of the traditional players have initiatives underway to benchmark the build complexity of their start-up competitors."
Persons: Elon, Brian Irwin, Alvarez, Irwin, Ford, Jim Farley, Farley, Mary Barra, Barra Organizations: Morning, Tesla, Elon Musk's, GM, Ford, Benz, Subaru Locations: China, Detroit, Germany
Jim Cramer is cautious about Ford (F) due to the heightened risk of a United Auto Workers strike, which has been a recent overhang on the Club stock. The company is already seeing 50% gross margins on those software services, CEO Jim Farley said during a call with reporters following the announcement. Ford's EV transition The new software services push is just one more way Ford is embracing new technology. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Ford CEO Jim Farley poses for a photo at the launch of the all-new electric Ford F-150 Lightning pickup truck at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.
Persons: Jim Cramer, Jim, Shawn Fain, Fain, Joe Biden, Ford, Peter Stern, Stern, Jim Farley, Farley, Morgan Stanley, Tesla, Jim Cramer's, Bill Pugliano Organizations: Ford, United Auto Workers, Club, UAW, Detroit automakers, Deutsche Bank, Apple, Ford Integrated Services, Ford Pro, EV, Barclays, General Motors, ICE, CNBC, Ford Rouge Electric Vehicle Center, Getty Locations: Dearborn , Michigan
Ford CEO Jim Farley hit the road in an electric F-150 Lightning last week. Access to the Supercharger network in 2024 could ease these challenges. Farley hit the road in an F-150 Lightning last week , traversing Route 66 and the American West to put the electric truck through its paces. At the end of the trip on Sunday, Farley shared his experience with charging the massive electric pickup truck. But the Dearborn, Michigan-based car company is partnering with Tesla to make the Supercharger network available to Ford drivers starting next spring .
Persons: Jim Farley, Farley, Ford EVs, Tesla, Rivian Organizations: Morning, Twitter, Ford, GM Locations: American, Coalinga , California, Dearborn , Michigan
REUTERS/Phil NobleAug 14 (Reuters) - Ford Motor (F.N) on Monday named former Apple (AAPL.O) executive Peter Stern as the president of its newly formed Ford Integrated Services unit to help build new high-margin digital and subscription services. Stern, who previously oversaw Apple TV+, iCloud and Apple News+, will report to Ford CEO Jim Farley. In his new role, Stern will focus on integrating hardware, software and services across the company's Ford Blue, Model e and Ford Pro units. Ford now has more than 550,000 paid software and services subscribers, more than 80% of them through the Ford Pro commercial unit. "The basis for differentiation is shifting from the vehicles alone to the integration of hardware, software and services," Stern said.
Persons: Phil Noble, Peter Stern, Stern, Jim Farley, Ford, Doug Field, Michael Abbott, Farley, Ford's, We're, Nathan Gomes, Paul Lienert, Krishna Chandra Eluri, Sharon Singleton, Jonathan Oatis Organizations: Ford, REUTERS, Monday, Apple, Ford Integrated Services, Ford Pro, General, Thomson Locations: Liverpool, Britain, United States, Bengaluru, Detroit
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
The Cybertruck likely still has enough juice to rock the EV truck segment. As the Cybertruck gets closer to launch, photos of the vehicle have circulated on Tesla enthusiast blogs and forums. The video made rounds on Tesla CEO Elon Musk's social media website X, formerly known as Twitter, earlier this month. Tesla's take on the truckDespite comparisons and nitpicks, industry experts believe the Tesla Cybertruck still has the juice to disrupt the truck market as we know it. Do you have an order in for the Tesla Cybertruck?
Persons: Elon, Cybertruck, Ford's, Jim Farley, Tesla's, Karl Brauer, Ivan Drury, Edmunds, Tesla Organizations: Tesla, Ford, iSeeCars
Most automakers sell cars with a traditional franchise model, while Tesla sells direct-to-consumer. Auto executives still don't think the Tesla sales model will catch on — despite some pretty substantial shifts in the auto retail space already taking place. Automaker demands put some dealers on the chopping blockBut it's been a huge debate in the industry as auto dealers are a strong lobbying force, so much so that Florida Gov. Ron DeSantis banned direct-to-consumer car sales in the state, with the exception of Tesla and EV startups that never had franchised dealers. Kerrigan experts have suggested this might be one way auto manufacturers are attempting to push out their dealerships amid the EV transition.
Persons: Tesla, Kerrigan, Jim Farley, Ron DeSantis, , Jessica Caldwell, Edmunds, Dave Thomas Organizations: Morning, Auto, Kerrigan Advisors, EV, Reuters, Florida Gov Locations: Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEtiquette Expert talks uptick in cell phone usage at movie theatersThomas Farley, Etiquette Expert, gives his take on a recent report that more and more moviegoers are engaging in rude and distracting behavior during films.
Persons: Thomas Farley
Ford has added 1,200 workers to the Lightning assembly system and plans to run it on a three-shift work rotation. As one of several new moves to boost demand, Ford said individual retail customers can now order the least expensive F-150 Lightning Pro, a $49,995 version of the truck originally designed for commercial customers only. To support increased Lightning production, Ford will focus sales efforts on "attracting more traditional customers, or the early majority," Gjaja said. “Challenges still remain around customer awareness and acceptance” of electric vehicles among mainstream buyers, he said. Ford said last week its electric vehicle operations are on track to lose $4.5 billion this year, a 50% wider loss than previously projected.
Persons: Rebecca Cook, Ford, Tesla, Marin Gjaja, Gjaja, Jim Farley, Joe White, Jonathan Oatis Organizations: Rouge Electric Vehicle, Reuters Connect DETROIT, Ford, EV, Detroit's, Motors, Silverado, Lightning, Ford's, Thomson Locations: Dearborn , Michigan, U.S
While many customers don't tip, those who do are helping businesses keep their prices stable. Some people are happy to tip almost every time they are prompted, and they're helping businesses pay their employees more without cutting into profits or raising prices. Farley told Insider that he usually leaves at least a small tip whenever businesses prompt him, even if it's for something that didn't require much "actual service" — like buying a drink at the counter. A similar story is playing out at businesses across the country, Laurence Kotlikoff, an economics professor at Boston University, previously told Insider. Personal experience working in the service industry causes some customers to tip almost every chance they getCamille Rogers, a 25-year-old Manhattan-based publicist, told Insider that she usually tips whenever it's an option.
Persons: Ryan Farley, Farley, They're, Dan Moreno's, Moreno, Laurence Kotlikoff, Camille Rogers, Rogers, KaLyn McCullough, McCullough Organizations: Service, Boston University, Rogers Locations: Wall, Silicon, Austin , Texas, Dan Moreno's Miami, Manhattan, Hartford , Connecticut
July 31 (Reuters) - The American Civil Liberties Union (ACLU) filed a lawsuit on Monday on behalf of Oklahoma residents asking a state judge to block the creation of the nation's first religious public charter school. Oklahoma's Statewide Virtual Charter School Board, one of the defendants in the suit, in June approved the Catholic Church's application to create the St. Isidore of Seville Catholic Virtual School, which would use millions of dollars in taxpayer funds to operate. Rebecca Wilkinson, the executive director of the statewide virtual charter school board, said in an email that the agency would not comment on pending litigation. Charter schools are publicly funded and independently run under the terms of a charter with a local or national authority. Listed as plaintiffs in the lawsuit challenging St. Isidore are nine Oklahoma residents and the Oklahoma Parent Legislative Action Committee.
Persons: Isidore of, Isidore, Brett Farley, Farley, Ryan Walters, Walters, St, Rebecca Wilkinson, Gentner Drummond, Brad Brooks, Donna Bryson, Bill Berkrot, Deepa Babington Organizations: American Civil Liberties Union, ACLU, Charter School Board, Isidore of Seville Catholic Virtual School, Catholic Conference of Oklahoma, U.S, Supreme, Republican, Oklahoma, Catholic, Catholic Archdiocese of, Catholic Archdiocese of Oklahoma City, University of Notre Dame, The ACLU, Americans United, and State, Education Law Center, Religion Foundation, Thomson Locations: Isidore of Seville, Oklahoma, U.S ., Maine and Montana, St, Catholic Archdiocese of Oklahoma, Indiana, Lubbock , Texas
The chip shortage has ailed the auto industry since early in COVID, but a bigger issue is surfacing. Automakers are starting to see the impacts of the electric vehicle battery crunch. It's official: The battery crunch is the new chip shortage. The chip shortage is still impacting vehicle supply, experts say, but automakers are now having to reckon with the battery supply chains as an even bigger headwind. Challenges surrounding electric vehicle production and the battery supply chain are finally materializing for legacy automakers and impacting their bottom lines.
Persons: Jim Farley, Elon Musk, Tesla, Mary Barra, Barra, Oliver Blume Organizations: Ford, Morning, GM, Porsche, Tesla, Battery Locations: COVID, Canadian, EVs
WASHINGTON, July 28 (Reuters) - More than half of the Senate's Democrats are backing the United Auto Workers' push for higher wages and benefits for workers at Detroit Three automakers' joint venture battery plants, they said in a letter released on Friday. UAW leaders have sought to secure support from Washington as negotiations opened earlier this month, with UAW President Shawn Fain meeting with lawmakers and President Joe Biden last week. In their letter to the CEOs of the Detroit Three and battery joint ventures, Senate Majority Leader Chuck Schumer joined Senators Sherrod Brown, Ron Wyden, Bernie Sanders, Richard Durbin and others in urging the automakers to embrace the joint venture battery workers before the current contract expires. Stellantis said it respects the UAW's right to organize future hourly employees at its joint venture battery facilities, adding: " The joint venture intends to offer very competitive wages and benefits." Last month, the union chief criticized $9.2 billion federal loan to a Ford/South Korea's SK On joint venture.
Persons: Shawn Fain, Joe Biden, Chuck Schumer, Sherrod Brown, Ron Wyden, Bernie Sanders, Richard Durbin, Ford, Stellantis, Jim Farley, Bill Ford, Biden, Biden's, Fain, David Shepardson, Susan Heavey Organizations: United Auto Workers, Detroit, automakers, General Motors, Ford Motor, Chrysler, UAW, Workers, EVs, SK On, South Korea's SK Innovation, Reuters, Ford, Korea's SK, LG Energy, Thomson Locations: United States, Washington, South, KS, Ohio
For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.
Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru
U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.
Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru
U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s. Most of the 11 major S&P 500 sectors posted gains, led by communications services (.SPLRCL), which gained 2.01% as big tech companies kept an upward trend after announcing earnings earlier this week. More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data. Advancing issues outnumbered declining ones on the NYSE by a 2.31-to-1 ratio; on Nasdaq, a 2.62-to-1 ratio favored advancers. The S&P 500 posted 26 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 69 new lows.
Persons: Win Murray, Diamond Hill, Peers, Dow, Jim Farley, Bansari Mayur Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Big Tech, Dow Jones, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, Bengaluru
Ford needs more time to hit its EV production targets as demand changes. Tesla's price war has made it harder to make money on EVs. The EV price war is forcing Ford to adjust its electric vehicle timeline. Ford confirmed during its earning report Thursday that EV pricing is one of the biggest hurdles to meeting their original EV production goals. "We expect the EV market to remain volatile until the winners and losers shake out," he said.
Persons: Ford, Jim Farley, Farley, Karl Brauer Organizations: Ford, Dealers, Tesla, GM Locations: Dearborn , Michigan, Tesla's
Ford CEO Jim Farley said Tesla's price cuts are reminiscent of Ford's Model T days. Where Tesla sits right now reminds Ford CEO Jim Farley a lot of the early days of his own auto company. "They got through Model 3 and Model Y commercialization in the plant and scaling production. Ford and Tesla have been both friends and rivals over the past few years as Ford races to electrify and snatch up some of Tesla's market share. I've always said that our main competition in the pure electric space is going to be BYD and Geely and Tesla," Farley said.
Persons: Jim Farley, Farley, Elon Musk, Tesla, Robert Llewellyn, Henry Ford, Ford, We've, I've, It's Organizations: Ford, EV, Tesla, GM, Volkswagen, Motors, BMW
Ford Motor Co. displays a new 2021 Ford F-150 pickup truck at the Rouge Complex in Dearborn, Michigan, Sept. 17, 2020. Heads up, hybrid fans: Ford Motor is working on a whole bunch of new hybrid models. "We have been surprised, frankly, at the popularity of hybrid systems for F-150," Farley said during Ford's second-quarter earnings call. More than 10% of F-150 pickup customers are opting for the hybrid model, Farley said, and that percentage has been increasing. But why double down on hybrids just as the industry is making a big push toward pure EVs?
Persons: Jim Farley, Ford isn't, Farley, Ford's Organizations: Ford Motor Co, Ford, Detroit automakers, EV, Toyota Locations: Dearborn , Michigan
Earnings before interest and taxes (EBIT) increased slightly to $3.79 billion, well ahead of analysts' predictions for EBIT of $3.16 billion. With Thursday's results, management shows it is playing to win and that the fourth quarter was an outlier. Strong profitability and cash flow generation overall in the second quarter provided the much-needed offset. Quarterly commentary Ford Blue, which represents Ford's gas-powered and hybrid vehicles, delivered a strong quarter and was again profitable in every region in which it operates. By segment, Ford expects Ford Blue to deliver full year EBIT of "about $8 billion," up from about $7 billion, and Ford Pro's EBIT to be "approaching $8 billion," up from $6 billion.
Persons: Jim Farley, we've, Farley, we're, Ford, Ford Pro's, Jim Cramer's, Jim Cramer, Jim, Jeff Kowalsky Organizations: Ford, Refinitiv, Management, Ford Model, Ford Pro, CNBC, Electric Vehicle, AFP, Getty Locations: North America, Europe, EBIT, Dearborn , Michigan
Ford’s EV losses climb but overall profits rise
  + stars: | 2023-07-27 | by ( Chris Isidore | ) edition.cnn.com   time to read: +6 min
Automotive revenue rose 12% to $42.4 billion, $2 billion more than forecasts. And those losses are going to rise, at least in the short term. In response, other automakers, including Ford, have responded with EV price cuts of their own. The current contract between the UAW and the “Big Three” unionized US automakers — Ford, General Motors and Stellantis — expires on Sept. 14. “When it comes to building in America and partnering with UAW, Ford stands out from all the other automakers, and most other major industrial companies,” he said.
Persons: Ford, EVs, Tesla, Jim Farley, , Farley, , John Lawler, , Sean Fain, Fain, ” Fain Organizations: New, New York CNN, Refinitiv, Ford, Ford Blue, Ford Pro, United Auto Workers, UAW, — Ford, General Motors, SK, GM, EV, Blue Locations: New York, America, EVs, Korean, American
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