Thu, Oct. 8, 9:06 AM
Thu, Oct. 8, 2:05 AM
- The United Auto Workers union has reached a tentative deal with Fiat Chrysler Automobiles (NYSE:FCAU) on a new four-year contract, averting a strike of the automaker's U.S. operations.
- Local UAW leaders will gather in Detroit on Friday to hear the details of the deal, while Fiat Chrysler's 40K union workers will have to vote again to finalize the agreement.
- If the pact is ratified, the UAW will likely use it as a template for negotiations with General Motors (NYSE:GM) and Ford (NYSE:F).
- Previously: Fiat Chrysler works against the clock to prevent strike (Oct. 07 2015)
Wed, Oct. 7, 3:47 PM
- Ford Europe (NYSE:F) reports sales rose 8% in September on the continent as the subsidiary showed gains in 12 of 20 European markets.
- The company's volume leaders in Europe during the month were the Fiesta (37.8K), Focus (24.8K), Transit Custom (11.7K), and Kuga (9.6K).
- The markets where Ford Europe had the highest market share were Ireland (16.7%), Britain (13.5%), and Turkey (13.0%).
- Ford Europe sales release (.pdf)
Wed, Oct. 7, 10:22 AM
- Automaker stocks are higher again as investors reset expectations on the group with the major implications of the Volkswagen scandal appearing to be limited to Germany. A positive view on the impact of the Trans-Pacific Partnership on the industry is also a significant factor.
- Gainers include Honda (HMC +5%), Tata Motors (TTM +5.2%), Fiat Chrysler Automobiles (FCAU +3.3%), Toyota (TM +1.9%), and Ford (F +2.8%).
- A scan of the broader auto industry shows Kandi Technologies (KNDI +4.4%), Navistar (NAV +11.7%), Federal-Mogul (FDML +3.7%), and Delphi Automotive (DLPH +2.2%) are also notably higher.
- Previously: Quiet rally continues for Detroit Three (Oct. 06 2015)
Tue, Oct. 6, 3:00 PM
- Shares of General Motors (NYSE:GM), Fiat Chrysler Automobiles (NYSE:FCAU), and Ford (NYSE:F) have put quietly put together a string of good sessions.
- GM and Fiat Chrysler are both up 9.8% over the last five trading days, while Ford is 6.1% higher. Those marks are much higher than broad market averages over the same time period, and top the returns of Japanese and German automakers.
- The gains were struck even with the UAW gearing up for a labor battle and the Volkswagen scandal hanging heavy over the sector. Investors appear to be focusing on the strong U.S. sales reports delivered by the Detroit Three on October 1.
- Previously: Strong U.S. auto sales tally helps investors shake off VW anxiety (Oct. 01 2015)
Tue, Oct. 6, 7:08 AM
- Car registrations in the U.K. were strong in September, despite the Volkswagen scandal which occurred in mid-month.
- Registrations were up 6% to 462K new cars. YTD registrations are up over 2M through September for the first time since 2004.
- Volkswagen brand registrations were up 4%, while Audi saw an 11% gain.
- The best selling models in the U.K. during the month were the Ford Fiesta (NYSE:F), Vauxhall Corsa (NYSE:GM), and Ford Focus.
Sat, Oct. 3, 11:02 AM
- An UAW union repping workers at a Ford (NYSE:F) plant in Missouri reached a tentative agreement with the company.
- Workers still need to vote on the deal which covers employment conditions, not wage levels being negotiated on a national level.
- The development is crucial for Ford as the Kansas City-area plant is a major producer of the new F-150. Any slowdown in production would create a ripple of worry with F-150 sales continuing to ramp up.
- Overall F-Series U.S. sales were up 16% to over 69K units in September. The F-Series has delivered over 564K units in the U.S. YTD.
Thu, Oct. 1, 12:13 PM
- New car prices rose 2.0% Y/Y to an average transaction price of $33,730, according to Kelley Blue Book.
- Prices were 0.5% from the level seen in August.
- The Detroit Three (GM, F, FCAU) led the way on pricing gains to make their impressive sales growth reported earlier today look even stronger. GM's average price was up 3.7% to $38,656. Ford came in with a 3.8% rise to $36,803. Fiat Chrysler's ATP was up 4.1% to $34,809.
- A higher mix of passenger cars impacted pricing at Toyota. ATP +0.6% to $30,733.
- Volkswagen (OTCQX:VLKAY) was the only major automaker with a drop in ATP, presumably impacted at the end of the month with its emissions cheating scandal. Next month could be even dicier for the German automaker.
- Previously: Strong Jeep demand paces Fiat Chrysler in Sep. (Oct. 01 2015)
- Previously: GM higher after powerhouse month of U.S. sales (Oct. 01 2015)
- Previously: Ford swoops up U.S. market share in Sep. (Oct. 01 2015)
Thu, Oct. 1, 9:52 AM
- Ford (F +0.6%) posted its best retail month since 2004 off of strong
- SUV sales rose 27% during the month, while Lincoln surprise with brisk demand. Utilities sales sizzled with a 27% pop and the new Ford Transit van continued to gain momentum.
- Sales growth by brand: Ford +23.1% to 212,919; Lincoln +19.6% to 8,680.
- Sales growth by model: Ford Fiesta +67% to 6,996; Ford Fusion +15% to 24,942; Ford C-MAX +10% to 1,966; Ford Mustang +199% to 9,456; Ford F-Series +16% to 69,651 (EcoBoost accounted for 64%); Ford Explorer +38% to 19,005; Ford Transit 10,154 (new); Ford Edge +33% to 10,262; Lincoln MKX +34% to 2,136; Lincoln MKC +16% to 2,039; Lincoln Utilities +23% to 5,687..
- Ford YTD U.S. sales +4.6% to 1,972,188 units.
- Previously: Ford September U.S. sales: +23% (Oct. 01 2015)
Thu, Oct. 1, 9:31 AM
Thu, Oct. 1, 7:45 AM
- United Auto Workers union members reject a tentative contract offered by Fiat Chrysler (NYSE:FCAU), the first time a tentative national labor contract has been rejected by UAW members in 30 years.
- UAW President Dennis Williams is scheduled to meet with hundreds of UAW local officials today in Warren, Mich., to discuss the union's next step and whether issues such as two-tier pay structure can be resolved if he were to return to bargaining with FCAU CEO Sergio Marchionne.
- Williams had hoped to use a contract to wring higher payouts from the financially stronger Ford (NYSE:F) and GM, who already balked at the FCAU contract.
Wed, Sep. 30, 11:32 AM
- UAW workers at Fiat Chrysler Automobiles (NYSE:FCAU) appear likely to reject the new four-year agreement hashed out with labor reps earlier this month.
- Sources tell The Detroit Free Press that the voting came in strongly against ratifying the deal at key plants in Toledo and Sterling Heights. Not all the separate UAW votes have been counted yet.
- If the UAW goes back to the negotiating table with Fiat, it will push talks with Ford (NYSE:F) and GM (NYSE:GM) further down the calendar.
Wed, Sep. 30, 7:03 AM
- Workers at a key Ford (NYSE:F) plant in Missouri could go on strike as early as this weekend as local union leaders go on the offensive.
- Stalled talks between Local 249 and Ford are separate than national negotiations between the UAW and the Detroit automaker.
- The plant in Kansas City builds the F-150 and Transit van in significant quantities.
Mon, Sep. 28, 7:40 AM
- Kelley Blue Book forecasts new car sales in the U.S. will jump 11.9% Y/Y in September to 1.39M units. The KBB estimate marks the highest September sales volume since 2006 with a later Labor Day weekend providing a boost.
- Forecasts by major manufacturers are posted below.
- General Motors (NYSE:GM): +10.1% Y/Y to 246K units, market share of 17.7%.
- Ford (NYSE:F): +14.2% to 205K, market share of 14.7%.
- Toyota (NYSE:TM): +13.6% to 190K units, market share 13.7%.
- Fiat Chrysler Automobiles (NYSE:FCAU): +10.7% to 188K units, market share of 13.5%.
- Honda (NYSE:HMC): +14.2% to 135K units, market share 9.7%.
- Nissan (OTCPK:NSANY): +2.7% to 116K units, market share 8.3%.
- Hyundai/Kia (OTC:HYMLF): +12.7% to 114K, market share 8.2%.
- Volkswagen/Audi(OTCQX:VLKAY): +7.8% to 48K, market share 3.5%. The Volkswagen emission scandal hit near the end of the month.
Tue, Sep. 22, 11:03 AM
- There's some anxiety with investors over Tata Motors (TTM -6.7%) and Fiat Chrysler Automobiles (FCAU -5.7%) after the Volkswagen emissions scandal.
- Though neither company is accused of using "defeat devices" like VW to beat emissions testing, calls have increased in Europe for a broader probe into the industry.
- Daimler (OTCPK:DDAIF) and BMW (OTCPK:BAMXY) fell 7.1% and 5.5%, respectively, in European trading.
- Ford (F -3.6%), Toyota (TM -2.6%), Honda (HMC -2.5%), and General Motors (GM -2.5%) are also lower than broad market averages with global growth concerns adding significantly to the regulatory firestorm.
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
- Previously: Volkswagen scandal weighs down auto parts sector (Sep. 22 2015)
Mon, Sep. 21, 7:28 AM
- The accusations over Volkswagen deliberately hiding software in diesel cars to defeat emissions testing continues to rock the industry.
- Evercore ISI drew the comparison of a back-street garage looking to get a used car through a vehicle inspection through a dirty move. Other investment firms agree that CEO Martin Winterkorn is a likely casualty from the scandal.
- While major complications for Volkswagen are unavoidable, there could also be a broad impact on the push to increase the sale of diesel models in the U.S. General Motors (NYSE:GM), Ford (NYSE:F), BMW (OTCPK:BAMXY), and Mercedes-Benz (OTCPK:DDAIF) are active in the U.S. diesel market.
- Shares of Volkswagen (OTCQX:VLKAY) are down over 20% today in Frankfurt trading.
- Previously: The EPA accuses Volkswagen of Clean Air Act violations (Sep. 18 2015)
- Previously: Volkswagen orders probe into EPA emissions violations (Sep. 20 2015)
F vs. ETF Alternatives
Other News & PR