Building electric vehicles is a costly undertaking for auto brands, and falling demand and the need to continually cut prices to stay competitive put automakers in a tough position. Ford, which sells the all-electric Mustang Mach-E, F-150 Lightning and E-Transit,… Source: Cars Direct
Good times have returned to the U.S. auto industry, but it appears to have surpassed General Motors’ Cadillac division. Cadillac was founded in 1902 and is the luxury division of GM. But it no longer fits the high-margin, ultra-luxury definition of automotive luxury… Source: www.washingtonpost.com
The FTSE 100 index ended 0.7% lower at 7,455.67 points after a third straight day of declines and mixed earnings and trading updates. “A lot of companies feel like they can’t meet market expectations, and that’s why we’re seeing huge stock price declines in one day,” said investor AJ Bell. Source: www.morningstar.com
Automakers are quickly realizing that electric vehicles are expensive to produce and demand for them just doesn’t exist. Ford recently released its 2023 third-quarter financial results, and there’s some bad news. Despite selling more EVs, Ford’s all-electric model e division… Source: Cars Direct