A strike by longshoreman called in dispute over wages and use of automation threatens to choke off shipments to ports on the East and Gulf coasts, threatening to delay deliveries of everything from groceries to autos and auto parts.
Earnings and Financials
Hurricane Helene Could Trigger Another Major Semiconductor Shortage
The damage wrought by Hurricane Helene could take months to calculate but it also could be felt worldwide. The floods that roared through the mountainous western part of North Carolina devastated one town, in particular, that is known for more than just its scenic views. It’s one of the world’s largest sources of the “high-purity quartz” needed to produce semiconductors. And it could touch off another major chip shortage in the months ahead.
Aston Martin Confirms It Will Miss Sales Target
Aston Martin confirms it will miss its 2024 sales goal as the British sportscar maker continues to struggle with financial woes and a rocky future as it prepares to launch an all-new lineup of vehicles.
Ford Powers Promise of EVs by Offering Free Home Chargers
Ford CEO Jim Farley announced plans today to offer free home chargers and installation to buyers of the company’s slow-selling electric vehicles. Farley took to LinkedIn to outline the company’s newest incentive, the Ford Power Promise, to sell EVs while continuing to show his advocacy for them. Get details at Headlight.News.
Stellantis CEO Tavares May Be on His Way Out
Once one of the most respected executives in the auto industry, CEO Carlos Tavares is coming under withering fire from investors, dealers and employees as the company’s fortunes fade – especially in North America, its most profitable region. With his contract set to expire early next year, the automaker is considering whether it’s time for a management shake-up.
Jeep Cuts Gladiator Pricing Amid Ongoing Sales Slump
Jeep, along with Ram, are Stellantis’ cash cows, providing the funding for brands that, if not on life support, don’t realize nearly the profits that these American powerhouse brands bring. So, you have to wonder: What took Stellantis so long to realize that Jeep had issues — major issues. Find out more at Headlight.News.
Is Musk’s Political Shift Hurting Tesla?
As the CEO of Tesla and an outspoken advocate of green technology, Elon Musk developed a large and loyal fanbase and was frequently credited as a major force helping to build demand for the automaker’s EVs. But things have changed over the nearly two years since Musk purchased what was then Twitter and began a visible shift towards the political right. That’s changed perceptions of the South African-born Musk for many former fans. But is that costing Tesla sales? Headlight.News has this story.
GM Announces Potentially Far-Reaching Collaboration with Hyundai
General Motors have inked a Memorandum of Understanding, a preliminary agreement that could lead to joint work on everything from hydrogen fuel-cells to the development and production of new gas and battery-powered vehicles. But the MoU raises questions about the future of GM’s current relationship with Japanese automaker Honda.
Stellantis Defensive After Dealers Urgently Voice Their Concerns As Sales Tank
Prominent Jeep and Ram dealers are increasing pressure on Stellantis executives to boost sales in the United States in the wake of a substantial market-share decline.
August Brought Unexpectedly Strong Auto Sales – Boosted by EVs
Solid sales gains in August point to a robust finish for the year as fear of a recessions in the auto business recede, interest rate cut looms on the horizon, and buyers take a closer look at hybrids and newer EVs. Sales of new cars and trucks continued to gain...
Ford Joins Ranks of U.S. Companies Abandoning or Scaling Back Diversity Programs
Ford Motor Co. will pare back its diversity efforts, joining companies like Lowe’s, John Deere and Beam Suntory, the producers of Jim Beam liquor who have entirely abandoned so-called DEI programs. Ford’s move was hailed by conservatives, but denounced as “shortsighted” by human rights advocates. For his part, CEO Jim Farley said the automaker will still work to creative an “inclusive workplace.”
Hyundai Way Means Massive Sales Increase, More Hybrids, More Profit
South Korean automotive behemoth Hyundai Motor expects to sell 5.5 million vehicles globally by the end of the decade, including 2 million EVs and 1.8 million hybrids. The global number represents a 30% jump over last year’s numbers. Find out more at Headlight.News.