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...Ford reported a smaller profit in the first quarter than the same period last year, as losses in the electric vehicle business weighed on sales of petrol-powered cars and trucks....
...Ford is cutting production of its F-150 Lightning electric pick-up truck as it predicts slower EV sales growth this year....
...Ford sales rose nearly 11 per cent in February compared with a year earlier, driven by sales of sport utility vehicles and hybrids. The company sold about 174,000 cars, trucks and SUVs last month....
...Ford is reducing production of the F-150 Lightning, the electrified version of its best-selling pick-up truck, and this week it slashed prices on the Mustang Mach-E SUV....
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...One of its battery subsidiaries has signed a deal with BorgWarner, the US-listed supplier to GM, Ford and Stellantis....
...The company made 80,000 fewer cars and trucks than it otherwise would have churned out during the days workers were on strike, said Ford chief financial officer John Lawler....
...Workers at Ford’s biggest plant have walked off the job as the United Auto Workers’ strike expands. About 8,700 workers began striking at Ford’s Kentucky Truck Plant plant in Louisville....
...Last week UAW members began picketing Ford’s most profitable factory, a truck plant in Kentucky....
...Shares in Ford and other electric vehicle makers tumbled after the auto group announced price cuts for its flagship electric pick-up truck, continuing a sector price war....
...Stellantis is aiming to overtake Ford as the world’s largest seller of pick-up trucks and vans within four years, banking that a range of electric and hydrogen models will allow it to pass its global rival...
...US carmakers including Ford, General Motors and Tesla have all recently paused plans to expand EV manufacturing capacity....
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...Milton, who started Nikola in 2014 and led it as it became a public company that at one point exceeded the market valuation of established carmakers such as Ford, was ousted as chief executive in 2020 but...
...Ford’s electric pick-up truck, the F-150 Lightning, is critical for the group to defend its profit pool in trucks, but it has left the small SUV space wide open....
...Ford led shares of electric-vehicle makers lower on Monday after announcing price cuts for its flagship electric pick-up truck, deepening the EV price war in the US....
...Workers demonstrated their power by shutting down Ford’s most profitable plant, Kentucky Truck, followed this week by factories at Stellantis and GM that produce significant moneymakers for those companies...
...Moreover, GM and Ford have been concentrating on making bigger and higher-priced electric SUVs and pick-up trucks, but sales for those have been relatively sluggish....
..., GM and Stellantis last month and agreed a tentative deal with Ford this week....
...The weak demand in the US has prompted Ford to cut production of its F-150 Lightning electric truck and scale back on a battery plant in Michigan....
...Ford’s F-150 Lightning electric truck starts from $42,000, while General Motors has launched an electric Hummer, which starts from $80,000 and weighs almost five tons....
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