INSIDER
Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in Europe
Read full article: Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in EuropeFord is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars.
Ford agrees to pay up to $165 million penalty to US government for moving too slowly on recall
Read full article: Ford agrees to pay up to $165 million penalty to US government for moving too slowly on recallFord Motor Co. will pay a penalty of up to $165 million to the U.S. government for moving too slowly on a recall and failing to give accurate recall information.
Ford agrees to pay up to $165 million penalty to US government for moving too slowly on a recall
Read full article: Ford agrees to pay up to $165 million penalty to US government for moving too slowly on a recallFord Motor Co. will pay a penalty of up to $165 million to the U.S. government for moving too slowly on a recall and failing to give accurate recall information.
Ford cuts 2024 earnings guidance due to warranty costs and slow pace of cost cutting
Read full article: Ford cuts 2024 earnings guidance due to warranty costs and slow pace of cost cuttingStubbornly high warranty expenses and lagging cost-cutting efforts are holding back Ford Motor Co.’s profits this year, causing the company to lower its full-year earnings guidance.
Ford to shift electric vehicle strategy by building new lower-cost pickups and a commercial van
Read full article: Ford to shift electric vehicle strategy by building new lower-cost pickups and a commercial vanFord Motor Co. is changing its electric vehicle plans and now will focus on making two new electric pickup trucks and a new commercial van.
Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays
Read full article: Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlaysInvestors are punishing automakers’ stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices.
Ford shares slide as disappointing Q2 adjusted profit rattles investors
Read full article: Ford shares slide as disappointing Q2 adjusted profit rattles investorsShares of Ford Motor Co. are tumbling Thursday after the automaker’s second-quarter adjusted profit badly missed Wall Street’s expectations as it spent more money fixing customers’ cars and trucks.
Stubborn warranty costs push down Ford's 2Q net profits, causing stock plunge in after-hours trading
Read full article: Stubborn warranty costs push down Ford's 2Q net profits, causing stock plunge in after-hours tradingFord Motor Co.’s second-quarter net income fell 4.7% from a year ago as the company’s combustion engine unit saw pretax profits decline due to stubbornly high warranty costs.
Diana Ross, Eminem and Jack White perform for thousands as former Detroit eyesore returns to life
Read full article: Diana Ross, Eminem and Jack White perform for thousands as former Detroit eyesore returns to lifeSome of Detroit’s greatest musical exports performed at a concert celebrating the historic reopening of an 18-story structure that long symbolized their hometown’s decline.
From decay to dazzling, Ford restores grandeur to Detroit train station that once symbolized decline
Read full article: From decay to dazzling, Ford restores grandeur to Detroit train station that once symbolized declineThe once-blighted monolithic Michigan Central train station — for decades a symbol of Detroit’s decline — has new life following a massive six-year, multimillion-dollar renovation to create a hub for mobility projects in the rebirth of the Motor City.
Ford's 1Q net income falls 24% as combustion engine unit sees sales and revenue decline
Read full article: Ford's 1Q net income falls 24% as combustion engine unit sees sales and revenue declineFord Motor Co.’s first-quarter net income fell 24% from a year ago as the company’s combustion engine vehicle unit saw revenue and sales decline.
Ford recalls nearly 43,000 SUVs for fire risk
Read full article: Ford recalls nearly 43,000 SUVs for fire riskFord is recalling nearly 43,000 small SUVs because gasoline can leak from the fuel injectors onto hot engine surfaces, increasing the risk of fires. But the recall remedy does not include repairing the fuel leaks.
Ford to delay production of new electric pickup and large SUV as US EV sales growth slows
Read full article: Ford to delay production of new electric pickup and large SUV as US EV sales growth slowsWith U.S. electric vehicle sales starting to slow, Ford Motor Co. says it will delay rolling out new electric pickup trucks and a new large electric SUV as it adds gas-electric hybrids to its model lineup.
About 1,400 workers at Ford electric pickup plant to transfer or take retirement offers next week
Read full article: About 1,400 workers at Ford electric pickup plant to transfer or take retirement offers next weekAbout 1,400 workers at a Ford factory in Michigan that makes the F-150 Lightning will move to new jobs or take retirement packages next week as sales of the electric pickup trucks slow.
CEO of Ford demands Red Bull resolution of investigation into team principal Christian Horner
Read full article: CEO of Ford demands Red Bull resolution of investigation into team principal Christian HornerThe CEO of Ford Motor Co. has insisted on a resolution into the investigation of Red Bull team principal Christian Horner in a letter sent to the team.
Auto workers threaten to strike again at Ford's huge Kentucky truck plant in local contract dispute
Read full article: Auto workers threaten to strike again at Ford's huge Kentucky truck plant in local contract disputeThe United Auto Workers union is threatening to go on strike next week at Ford’s largest and most profitable factory in a dispute over local contract language.
Ford awaiting Red Bull investigation into Horner but stresses high moral values company holds
Read full article: Ford awaiting Red Bull investigation into Horner but stresses high moral values company holdsRed Bull future engine supplier Ford Motor Co. says it is awaiting the results of an investigation into alleged inappropriate behavior by team principal Christian Horner, but a top executive stressed that Ford holds its company and partners to very high moral standards.
Ford CEO says company will rethink where it builds vehicles after last year's autoworkers strike
Read full article: Ford CEO says company will rethink where it builds vehicles after last year's autoworkers strikeFord's top executive says that last fall’s contentious United Auto Workers’ strike changed the company's relationship with the union to the point where it will “think carefully” about where it builds future vehicles.
Ford cuts production of F-150 Lightning pickup on weaker-than-expected electric vehicle sales growth
Read full article: Ford cuts production of F-150 Lightning pickup on weaker-than-expected electric vehicle sales growthFord says it’s reducing production of the F-150 Lightning electric pickup vehicle as it adjusts to weaker-than-expected electric vehicle sales growth.
Ford to resume building Michigan electric vehicle battery plant delayed by strike, but scale it back
Read full article: Ford to resume building Michigan electric vehicle battery plant delayed by strike, but scale it backFord Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United Auto Workers union.
Ford earnings fall short of estimates after it strikes a tentative deal with the United Auto Workers
Read full article: Ford earnings fall short of estimates after it strikes a tentative deal with the United Auto WorkersFord has reported significant growth in the third quarter, although its financial results fell short of Wall Street estimates.
Ford 2Q profit surges on strong revenue, but company faces electric vehicle growing pains
Read full article: Ford 2Q profit surges on strong revenue, but company faces electric vehicle growing painsFord Motor Co.’s second-quarter profit more than tripled to $1.92 billion versus a year ago on stronger revenue and sales.
Base F-150 Lightning electric pickup will cost less than $50,000 as Ford slashes prices across line
Read full article: Base F-150 Lightning electric pickup will cost less than $50,000 as Ford slashes prices across lineThe sticker price on Ford’s F-150 Lightning electric pickup is being lowered by thousands of dollars, the company said Monday, due to increased plant capacity, falling costs for battery raw materials and internal efforts to scale production by the Detroit automaker.
Ford cutting several hundred white-collar jobs to reduce cost amid transition to electric vehicles
Read full article: Ford cutting several hundred white-collar jobs to reduce cost amid transition to electric vehiclesFord Motor Co. is going through another round of white-collar job cuts as the company continues to reduce costs amid a transition to electric vehicles.
Ford Explorer recall prompts Transportation Department investigation
Read full article: Ford Explorer recall prompts Transportation Department investigationThe National Highway Traffic Safety Administration is investigating a Ford Motor Co. recall of more than a quarter-million Explorer SUVs in the U.S. The probe comes after the administration received complaints about repairs intended to prevent the vehicles from unexpectedly rolling away even while placed in park.
Energy secretary Granholm says she failed to reveal stock holdings; GOP calls for investigation
Read full article: Energy secretary Granholm says she failed to reveal stock holdings; GOP calls for investigationA senior Republican on the Senate Energy panel is calling for an investigation of Energy Secretary Jennifer Granholm, after she told the committee she mistakenly provided false information about her family’s stock holdings in testimony earlier this year.
Ford electric vehicle owners to get access to Tesla Supercharger network starting next spring
Read full article: Ford electric vehicle owners to get access to Tesla Supercharger network starting next springAll of Ford‘s current and future electric vehicles will have access to about 12,000 Tesla Supercharger stations in the U.S. and Canada starting next spring.
Ford's Farley: Cut costs, improve quality and boost margins through software and services
Read full article: Ford's Farley: Cut costs, improve quality and boost margins through software and servicesFord CEO Jim Farley says his company is remaking itself by cutting costs, raising quality and offering software, services and new vehicles that will make profit margins among the best in the industry.
Ford says EV unit losing billions, should be seen as startup
Read full article: Ford says EV unit losing billions, should be seen as startupFord’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology.
Oakland County man arrested after child porn found on Ford work computer
Read full article: Oakland County man arrested after child porn found on Ford work computerAn Oakland County man who works for Ford Motor Co. was arrested after child pornography was found on his work devices, according to court documents.
Ford stops production of electric F-150 after battery fire
Read full article: Ford stops production of electric F-150 after battery fireFord Motor Co. says it has suspended production and halted shipments of the F-150 Lightning electric pickup after a battery caught fire during a pre-delivery quality check.
Ford recalls 277K pickups, cars to fix cloudy rear camera lens
Read full article: Ford recalls 277K pickups, cars to fix cloudy rear camera lensFord is recalling more than 277,000 pickup trucks and cars in the U.S. because the rear view camera lens can get cloudy and reduce visibility for the driver.
U. Michigan study to help those with autism improve driving
Read full article: U. Michigan study to help those with autism improve drivingUniversity of Michigan researchers are studying how well people with autism spectrum disorder can detect road hazards, and plan to assist the young motorists in sharpening their driving skills.
Ford cutting 3,000 white-collar jobs in bid to lower costs
Read full article: Ford cutting 3,000 white-collar jobs in bid to lower costsAbout 3,000 white-collar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries.
Ford plans to add 6,200 jobs in Ohio, Michigan and Missouri
Read full article: Ford plans to add 6,200 jobs in Ohio, Michigan and MissouriFord will add 6,200 factory jobs in Michigan, Missouri and Ohio as it prepares to build more electric vehicles and roll out two redesigned combustion-engine models.
Morning 4: Several Michigan elementary students hospitalized after feeling ill at school -- and more news
Read full article: Morning 4: Several Michigan elementary students hospitalized after feeling ill at school -- and more newsMorning 4 is a quick roundup of stories we think you should know about to start your day.
Asian stocks rise after Fed chair supports smaller rate hike
Read full article: Asian stocks rise after Fed chair supports smaller rate hikeAsian stock markets have rebounded and oil prices climbed after the head of the Federal Reserve said he supports a smaller rise in interest rates than some expected.
Ford, battery maker face job requirement for Tennessee plant
Read full article: Ford, battery maker face job requirement for Tennessee plantA lease agreement says Ford Motor Co. and a South Korean company would have to create more than 5,000 full-time jobs at a planned electric pickup truck factory and battery manufacturing plant in Tennessee or pay back at least part of a $500 million state grant for the project.
Get Caught Up: Police begin removing protesters on day 6 of Ambassador Bridge blockade
Read full article: Get Caught Up: Police begin removing protesters on day 6 of Ambassador Bridge blockadeOn Saturday morning, police began moving in to remove Windsor protesters from the Ambassador Bridge area following days of disrupted travel between the U.S. and Canada.
GM to spend nearly $7B on EV, battery plants in Michigan
Read full article: GM to spend nearly $7B on EV, battery plants in MichiganGeneral Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks and to build a new battery cell plant.
Michigan OKs $824M in incentives for GM’s EV, battery plants
Read full article: Michigan OKs $824M in incentives for GM’s EV, battery plantsGeneral Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks and to build a new battery cell plant.
Ford partners with GlobalFoundries to address chip shortage
Read full article: Ford partners with GlobalFoundries to address chip shortageIn an effort to advance auto semiconductor chip manufacturing to address a global shortage hitting the auto industry, Ford has announced a new partnership with GlobalFoundries.
Rivian Automotive, with Ford investment and Amazon contract, goes public
Read full article: Rivian Automotive, with Ford investment and Amazon contract, goes publicShares of Rivian Automotive jumped in their debut Wednesday, rising as much as 53% as investors look for the next big winner in the electric vehicle market.
Rivian Automotive, with Ford investment and Amazon contract, goes public
Read full article: Rivian Automotive, with Ford investment and Amazon contract, goes publicShares of Rivian Automotive jumped in their debut Wednesday, rising as much as 53% as investors look for the next big winner in the electric vehicle market.
Nightside Report Nov. 3, 2021: MCCA votes to support Whitmer request for auto insurance refunds, giant sequoia tree thrives in Northern Michigan
Read full article: Nightside Report Nov. 3, 2021: MCCA votes to support Whitmer request for auto insurance refunds, giant sequoia tree thrives in Northern MichiganHere are tonight's top stories.
Ford vaccine mandate: ‘Most’ salaried employees in US have to get it by Dec. 8
Read full article: Ford vaccine mandate: ‘Most’ salaried employees in US have to get it by Dec. 8Ford Motor Co. is requiring most of its salaried employees in the United States to be fully vaccinated against COVID-19 by Dec. 8 or face unpaid leave.
Sweden's Volvo Cars launches IPO, seeks Stockholm listing
Read full article: Sweden's Volvo Cars launches IPO, seeks Stockholm listingThe Chinese-controlled Swedish car maker Volvo Cars will make a return as a listed company after a hiatus of more than two decades following an initial public offering and share listing in Sweden later this month.
Ford invests in Nevada-based electric vehicle battery recycling company
Read full article: Ford invests in Nevada-based electric vehicle battery recycling companyFord Motor Co. is investing $50 million in an upstart electric vehicle battery recycling company as the automaker moves to bolster its U.S. battery supply chain.
‘I haven’t smelled anything’: Evacuated Flat Rock family returns home after zone 2 cleared by officials
Read full article: ‘I haven’t smelled anything’: Evacuated Flat Rock family returns home after zone 2 cleared by officialsWeeks after being told to evacuate their homes, some residents in those evacuated areas of Flat Rock finally have the all-clear to go back home.
Ford to add 450 jobs throughout 3 plants to meet demand for F-150 Lightning
Read full article: Ford to add 450 jobs throughout 3 plants to meet demand for F-150 LightningFord said interest in the new F-150 Lightning is so high that it’s doubling down on electric cars. The automaker is now working to increase production.
Ford overcomes computer chip shortage, posts surprise profit
Read full article: Ford overcomes computer chip shortage, posts surprise profitSky-high sales prices for pickup trucks and SUVs helped Ford Motor Co. turn a surprise second-quarter profit despite a global shortage of computer chips that cut production in half.
2021 Ford Bronco heads to dealerships nationwide from Michigan Assembly Plant
Read full article: 2021 Ford Bronco heads to dealerships nationwide from Michigan Assembly PlantThe 2021 Ford Bronco is rolling off the line at the Ford Michigan Assembly Plant and the new two-door and four-door Bronco models are on their way to Ford dealerships nationwide.
Workers find 108-year-old letter in a bottle while renovating Michigan Central Station
Read full article: Workers find 108-year-old letter in a bottle while renovating Michigan Central StationIt was two years ago that Ford Motor Company began the painstaking process of converting Michigan Central Station into office workspace.
Morning Briefing May 26, 2021: Survey finds many adults lack basic sun safety knowledge, Michigan traffic deaths up 10% in 2020
Read full article: Morning Briefing May 26, 2021: Survey finds many adults lack basic sun safety knowledge, Michigan traffic deaths up 10% in 2020Here are this morning's top stories.
Ford raising EV spending to $30 billion, aims for 40% of fleet electric by 2030
Read full article: Ford raising EV spending to $30 billion, aims for 40% of fleet electric by 2030Ford Motor Co. is boosting its spending on electric vehicle production by $30 billion as it aims to have 40% of its fleet all-electric by 2030.
Ford posts profit, says chip shortage may cut production 50%
Read full article: Ford posts profit, says chip shortage may cut production 50%Ford posted a surprising $3.26 billion profit in the first quarter, but the company says a worsening global computer chip shortage could cut its production in half during the current quarter.
Ford providing on-site COVID-19 vaccines for employees in southeast Michigan, Ohio and Missouri
Read full article: Ford providing on-site COVID-19 vaccines for employees in southeast Michigan, Ohio and MissouriFord employees interested in being vaccinated against COVID-19 can now receive an on-site vaccination at manufacturing facilities in three states. Starting today, Ford is offering the vaccine program to employees in Southeast Michigan, and will provide the shot to employees in the Lima, Ohio, and Kansas City, Missouri, areas as well.
Biden sees `win' for US in electric vehicle battery deal
Read full article: Biden sees `win' for US in electric vehicle battery dealTwo big South Korean electric vehicle battery makers said they've settled a long-running trade dispute that will allow one company to move ahead with plans to manufacture batteries in Georgia.
Will work from home outlast virus? Ford’s move suggests yes
Read full article: Will work from home outlast virus? Ford’s move suggests yesThe share of Indeed's job postings that mention “remote work” or “work from home" reached 7% last month, up from just below 3% a year ago. But in some industries, the gains were far more dramatic, including those that haven't traditionally welcomed remote work. “Remote work has become much more accepted.”Ford is just the latest company to allow more work from home after the pandemic. Company executives overwhelmingly report that remote work has succeeded during the pandemic, according to research by consulting firm PwC. About 55% said they envision allowing continued remote work, according to the survey of 133 executives of mostly large companies.
Will work from home outlast virus? Ford's move suggests yes
Read full article: Will work from home outlast virus? Ford's move suggests yesThe share of Indeed's job postings that mention “remote work” or “work from home" reached 7% last month, up from just below 3% a year ago. But in some industries, the gains were far more dramatic, including those that haven't traditionally welcomed remote work. “Remote work has become much more accepted.”Ford is just the latest company to allow more work from home after the pandemic. Company executives overwhelmingly report that remote work has succeeded during the pandemic, according to research by consulting firm PwC. About 55% said they envision allowing continued remote work, according to the survey of 133 executives of mostly large companies.
Ford tells 30K employees they can continue working from home under ‘hybrid’ plan
Read full article: Ford tells 30K employees they can continue working from home under ‘hybrid’ planThe share of Indeed's job postings that mention “remote work” or “work from home" reached 7% last month, up from just below 3% a year ago. But in some industries, the gains were far more dramatic, including those that haven't traditionally welcomed remote work. “Remote work has become much more accepted.”Ford is just the latest company to allow more work from home after the pandemic. About 55% said they envision allowing continued remote work, according to the survey of 133 executives of mostly large companies. An additional 26% said they preferred only limited remote work but recognized that it's become popular with employees.