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...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Of Ford’s $1.1bn profit in the final quarter of last year, roughly a quarter came from the Ford Credit arm. In 2021, the finance unit generated half of Ford’s entire annual profits....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
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...Mike Hawes, head of the Society of Motor Manufacturers and Traders, which represents the UK car industry, said more incentives, as well as cheaper insurance deals and more charging points, were needed to...
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...Car companies including General Motors and Ford said on Tuesday that they would work to reroute shipments to nearby ports, while Nissan said it did not expect significant disruption....
...Motor-vehicle insurance had a “relative importance” comparable to electricity costs in April, which sort of makes sense since both are widely used with required monthly payments....
...Tata Motors has manufactured and sold electric cars since 2019, though the market remains small and sales average around 3,000 a month, according to the company....
...Under chief executive Jim Farley, Ford is competing in two races: to cut costs in the short term and to position the company for the future....
...The share price of two of the largest US car insurance companies — Take Allstate and Progressive — have fallen in the past month, reflecting the rising costs of underwriting auto insurance policies....
...Last week, US insurer Allstate posted a net loss of $310mn in the fourth quarter as higher motor insurance prices were not enough to overcome increased claims costs and related increases in its reserves....
...Need to know: business General Motors agreed a deal with the UAW union to end the carworkers’ strike, following similar deals struck by Ford and Chrysler owner Stellantis....
...Goodness knows what his insurance bill is! I kicked the tyres on all this with Peter Campbell, the FT’s global motor industry correspondent....
...For motor services, computer vision has implementation far beyond insurance: Auto parts providers use Tractable’s scans to help them decide which salvage vehicles to buy, and rental companies use the technology...
...Pizza, TGI Fridays, Tenneco, Titan International and Tom Ford....
...She’s from Detroit, Michigan, spent her whole life there, and she works for Ford Motors in finance management....
...Ford Credit, which provides financing for the American company’s customers and dealers, posted $3.7bn in earnings before taxes in the same period, which included a record-breaking second quarter....
...She also warned companies that authorities will freeze their corporate accounts and suspend insurance if their trucks are being used in the protests....
...Car manufacturers have been accountable for defective vehicles since a row in the US over Ford Pinto fuel tank fires in the 1970s....
...as Ford, General Motors and Volkswagen....
...The electric vehicle maker Rivian surged on its New York stock market debut on Wednesday — greater than Ford and General Motors — without a single drop of gas in the tank....
...Within a few weeks, QuantumScape — still years away from commercial production — would hit a market capitalisation of $48bn, comfortably exceeding that of the century-old Ford Motor Company....
...Japanese car parts maker Denso, Ford Motor and BMW were among a group of 100 companies that have agreed on common standards (Nikkei, $) for pricing used electric vehicle batteries, a milestone for the second-hand...
...Ford has pledged that all sales in Europe will be fully electric by 2030, while General Motors has stated an ambition to phase out sales of engine cars by 2035....
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