Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
Manufacturers are entering commitments to produce more automotive-grade chips for automotive manufacturers that have idled production amid the shortage.
How fast automakers move vehicles from factory floors to showrooms will shape the sales story the rest of the year.
Today’s news pushed Ford shares up 6%. Ford stock prices have doubled since CEO Jim Farley took the helm in October 2020.
The Detroit 3 has taken the biggest hit as automakers tweak production to manage the crisis.
The Biden Administration has bipartisan support to contribute $50 billion for semiconductor manufacturing and research, but where the funds will go remains subject of debate.
More than a year after being hired to lead the automaker's ‘Smart Mobility’ innovation unit, Jim Hackett was named Ford’s CEO and president. He replaces Mark Fields, who ends his three-year tenure at the helm of Ford Motor Co.
The information services firm announced that John DeMarco has joined the company as senior vice president of automotive sales. He brings 27 years of leadership experience, having held a number of senior leadership roles at firms like CDK Global and Ford Motor Co.
Ford Motor Co. announced three executive promotions this week, moves aimed at supporting the automaker's plans to expand as both an auto and mobility company.
Ford Motor Credit is offering peer-to-peer car sharing through a pilot program in six U.S. cities and London. The program will allow Ford Credit customer to rent their vehicle to prescreened drivers for short-term use, offsetting monthly vehicle ownership costs.
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