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Today, 7:12 AM| Today, 7:12 AM
Yesterday, 9:10 AM| Yesterday, 9:10 AM | 35 Comments
Mon, Feb. 8, 3:14 AM
- Ford (NYSE:F) is planning to build a new assembly plant in Mexico to sharply increase output from the country, representing the latest shift of investment abroad by a Detroit automaker following the signing of a costly new labor deal.
- Ford expects to add 500K units of annual Mexican capacity starting in 2018 (more than double what it built in 2015), by constructing a new assembly complex in San Luis Potosí and expanding an existing factory near Mexico City.
Fri, Feb. 5, 11:46 AM
Wed, Feb. 3, 6:33 AM
- Ford (NYSE:F) plans to eliminate hundreds of jobs and kill off some less-lucrative models in Europe as part of a plan to maintain profits in the region.
- "The goal is very simple," said Jim Farley, Ford's European chief. "It is vibrant and sustainable profitability, that we make a return in good times and bad."
- The automaker expects to offer voluntary buyouts to most of its 10,000 salaried employees in Europe, saving it $200M annually.
Tue, Feb. 2, 9:33 AM
- Ford (NYSE:F) unit sales -2.6% to 173,723 units to beat the estimate from Kelley Blue Book of a 5% drop.
- The automaker cited strong pricing during the month as a lower mix of passenger cars played in.
- Passenger car sales -12% to 50,032 units.
- Utilities sales +4% to 54,905 units.
- Truck sales +0.2% to 68,786 units. F-Series -5% to 51,540 units.
- Sales at the Ford brand were down 3% to 166,546.
- Lincoln brand sales +8.4% to 7,177.
- Models with strong numbers for the month included Expedition (+16%), Transit (+51%), and Lincoln MKX (+51%).
- Ford is down 1.3% to $11.91 in opening trades.
Thu, Jan. 28, 7:58 AM
- Ford (NYSE:F) ended 2015 with record profit of $7.4B on revenue of $149.6B.
- The automaker's Q4 operating margin rate of 6.1% was more than double last year's mark.
- Q4 operating margin by region: North America 10.2%, South America -14.4%, Europe 0.9%, Middle East & Africa 0.8%, Asia-Pacific 7.1%.
- Ford saw automotive operating-related cash flow of $2.1B during the quarter.
- Ford's full Q4 release (.pdf).
- Ford's conference call is scheduled for 9:00 a.m. EST.
- Previously: Ford Motor beats by $0.08 (Jan. 28 2016)
- F is unchanged in early premarket trading.
Thu, Jan. 28, 7:08 AM
Wed, Jan. 27, 5:30 PM
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Tue, Jan. 26, 8:51 AM
Mon, Jan. 25, 7:27 AM
Thu, Jan. 21, 12:23 PM| Thu, Jan. 21, 12:23 PM | 28 Comments
Mon, Jan. 18, 10:29 AM
- European car registrations rose 16.6% in December to 1,109,927 units.
- Registrations for 2015 ended 9.3% higher at 13,713,526 units. A strong recovery in Spain and Italy contributed significantly, while volume leader Germany saw a steady gain of 5.6% amid a challenging year in the domestic market.
- 2015 European market share by manufacturer: Volkwagen Group (OTCPK:VLKAY) 24.8%, Peugeot (OTCPK:PEUGF) 10.4%, Renault (OTC:RNSDF) 9.6%, Ford (NYSE:F) 7.2%, Opel (NYSE:GM) 6.7%, BMW (OTCPK:BAMXY) 6.6%, Fiat Chrysler (NYSE:FCAU) 6.1%, Daimler (OTCPK:DDAIF) 5.9%, Toyota (NYSE:TM) 4.3%, Nissan (OTCPK:NSANY) 3.9%, Hyundai (OTC:HYMLF) 3.3%, Kia (OTC:HYMLF) 2.7%, Volvo (OTCPK:GELYF) 2.0%, Mazda (OTCPK:MZDAY) 1.5%, Suzuki (OTCPK:SZKMY) 1.3%, Jaguar Land Rover (NYSE:TTM) 1.3%.
Wed, Jan. 13, 6:38 PM
- In addition to raising its full-year guidance, quarterly dividend and share repurchase plan, General Motors (NYSE:GM) is significantly cheaper than rival Ford (NYSE:F) at 5.6x forward earnings even as its projected long-term growth rate of 23% is much higher, Barron's says.
- Concern that automakers will need to sacrifice pricing power to entice buyers and reduce inventory may not be felt as keenly by GM, whose 1.9% drop in U.S. sales last month was better than it looks, according to J.P. Morgan’s Ryan Brinkman, as "vehicles transacted at an unprecedented $37K average transaction price in December, up $1,150 Y/Y."
- GM CEO Mary Barra has effectively navigated the huge recall of more than 30M vehicles for faulty ignition switches as well as rapid technological changes in the industry, Barron's also says.
- Credit Suisse, which upgraded GM to Outperform on Monday, sees “a management team coming into its own in terms of driving efficiencies across the organization as well as positioning the company to win in a global auto market that is likely to change massively over the next 5-10 years."
Tue, Jan. 12, 5:37 PM
Tue, Jan. 12, 4:32 PM
- Ford (NYSE:F) now expects its 2015 op. profit (exc. special items) to be in the upper half of a prior $10B-$11B guidance range.
- Excluding special items, 2016 op. profit is "expected to be equal to or higher than 2015." The same goes for automotive revenue and op. margin. Operating EPS is expected to be "about equal to or higher than 2015."
- Ford: "In the business units, Ford expects North America to sustain its strong performance in 2016 with an operating margin of 9.5 percent or higher. The company expects Europe, Middle East & Africa, and Asia Pacific to all be profitable in 2016, with Europe's and Asia Pacific's results improving over 2015 and Middle East & Africa's results being about equal to or higher than last year. Ford Credit's pre-tax profit is expected to be equal to or higher than 2015..."
- 12 global product launches are expected in 2016, and "more electrified products for Ford and Lincoln" are promised. The latter includes a new Focus Electric said to deliver "an 80 percent charge in an estimated 30 minutes and projected 100-mile range."
- In addition to its regular $0.15/share quarterly dividend, Ford is declaring a $0.25/share supplemental dividend.
- F -2.7% after hours to $12.50. The guidance comes ahead of a Deutsche auto industry conference presentation set for 6:45PM ET today (webcast).
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