Ford Motor Co

DETROIT – Ford Motor started the year with a slight increase in sales, as a large jump in hybrid vehicles offset an 11% decline in all-electric cars and trucks.The Detroit automaker on Friday reported sales rose 4.3% last month from January 2023, led by a 43% jump in hybrid sales and 2.6% uptick in traditional vehicles with internal combustion engines. Ford sold 152,617 vehicles last month.The spike in hybrid sales is part of Ford's plan to double down on the technology. Demand for hybrids has increased, while consumers…

A Carvana sign and signature vending machine in Tempe, Ariz.Michael Wayland/CNBCPHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear view.Carvana over the last 18 months aggressively restructured its operations and debt amid bankruptcy concerns to pivot from growth to cost-cutting. They were crucial moves for the company and its largest shareholders, including CEO and Chairman Ernie Garcia…

Elon Musk, CEO of Tesla, speaks at the Atreju political convention organized by Fratelli d'Italia (Brothers of Italy) in Rome, Italy, on Dec. 15, 2023.Antonio Masiello | Getty ImagesTesla reported revenue and profit for the fourth quarter that missed analysts' estimates as automotive revenue increased just 1% from a year earlier. The stock slid almost 6% in extended trading.Here are the key numbers:Earnings per share: 71 cents, adjusted vs. 74 cents expected by LSEG, formerly known as Refinitiv.Revenue: $25.17 billion vs.…

U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, U.S., September 26, 2023. Evelyn Hockstein | ReutersThe United Auto Workers union is endorsing President Joe Biden for reelection this year, UAW President Shawn Fain announced Wednesday at a union conference in Washington, D.C."Today, I'm proud to stand up here with your International Executive Board and announce that the UAW is endorsing…

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesDETROIT – Chinese automakers pose a growing threat to their American counterparts — even without selling directly to consumers in the U.S. market.Sales of China-made vehicles are rising at notable rates in Asia, Europe and other countries. China recently reported exports of more than 5 million vehicles in 2023,…

Ford 's plans to reduce production of its all-electric pickup and increase production on popular legacy vehicles will allow the automaker to secure better profits and narrow EV losses. Ford announced Friday it's reducing production of its F-150 Lightning all-electric pickup truck, starting April 1, due to slowing demand for EVs. The automaker said the Lightning cuts are being made to achieve the "optimal balance of production, sales growth and profitability." As part of the move, about 1,400 employees will be impacted as…

Ford workers produce the electric F-150 Lightning pickup at the automaker's Ford Rouge Electric Vehicle Center on Dec. 13, 2022.Michael Wayland | CNBCDETROIT – Ford Motor is increasing production of its Bronco SUV and Ranger pickup, while cutting production of its all-electric F-150 Lightning, the automaker said Friday.Ford said the production changes are intended to match production with customer demand. They mark the latest cuts or delays to production of EVs amid slower-than-expected customer demand."We are taking…

Mary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022.Source: NYSEDETROIT — Monday marks 10 years of Mary Barra's tenure as CEO of General Motors, ushering in a crucial year for the Detroit automaker and for her legacy.Over the past decade, Barra has been a dynamic executive, guiding the company through high-profile crises as the first female leader of a major automaker. Under her stewardship, GM has seen record profits, cultural changes and major achievements, including beating Wall Street…

Wall Street sees opportunities for legacy automakers like Ford to stand out in 2024 despite the challenges the industry faces as demand for electric vehicles softens. Ford could make for a successful year by doing two things: continuing its strategic shift toward more profitable hybrids instead of heavy investments in less lucrative EVs and improving quality issues. 1. Shift to hybrids Ford is not willing to go broke on EVs. CEO Jim Farley is moving away from cars that don't make money, like electric vehicles while…

2023 Ford Super Duty F-350 LimitedFordDETROIT – America maintained its love affair with pickup trucks in 2023 — but a top-selling vehicle from Toyota Motor nearly ruined their tailgate party.Sales of the Toyota RAV4 compact crossover came within 10,000 units of Stellantis' Ram pickup truck last year, a near-No. 3 ranking that would have marked the first time since 2014 that a non-pickup claimed one of the top three U.S. sales podium positions.The RAV4 has rapidly closed the gap: In 2020, the vehicle undersold the Ram…