Ford is cutting 4,000 jobs in its European workforce, noting that the industry shift to electric vehicles has been “highly disruptive.”
Ford reportedly invested nearly $1 billion into the once derelict Michigan Central Station, which officially reopens this week.
A Chinese automaker has announced a model for less than $10,000. And Ford says it’s committed to a $25,000 electric.
A recent Toyota recall affects more than 280,000 vehicles. But not all recalls are created equal in terms of how they color a company’s brand and long-term customer loyalty.
Investors — and the union — will be scrutinizing the numbers for clues about how the extended work stoppage is affecting the companies.
Solid Inventory is keeping some worries away for now. But a prolonged strike could hurt the industry, one expert says.
So far, the UAW is holding a limited strike at three plants across three states.
The industry may need to cut costs to bring down stickier prices.
The company expects to lose another $3 billion this year in its transition from internal combustion cars to electric.
EVs account for about 5% of car purchases, according to automotive website Edmunds. Rivals to Tesla are making inroads.