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...When the announcement was made last February, chair Bill Ford said it was “the start of a thrilling new chapter in Ford’s motorsports story”....
...Nearly two-thirds of the voting members of the United Auto Workers union voted to ratify their contracts with Ford, General Motors and Stellantis after their historic strike against the three Detroit automakers...
...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....
...Ford has scaled back plans for an EV battery plant, while General Motors and Tesla have paused some of their EV expansion efforts....
...The UAW, established in the 1930s, last year won record pay increases for 146,000 members whom the union represents at Ford, General Motors and Stellantis after it launched six weeks of strikes against the...
...Ford’s forecast comes a day after rival General Motors reinstated its guidance and warned of similar cost pressures, but cheered investors with plans for a $10bn share buyback....
...The lost earnings at the vehicle maker eclipse the damage at Detroit rival General Motors, which said on Tuesday the strike had cost it $800mn in earnings before interest and taxes....
...At Ford, approximately 68 per cent of voters favoured ratification. Union workers at General Motors ratified their contract yesterday....
...General Motors and Tesla have paused some of their EV expansion plans....
...General Motors has reached a tentative deal with the United Auto Workers union to end a six-week strike that also hit Ford and Stellantis, in what was the first co-ordinated walkout by workers at the three...
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...Unlike some models from Ford, GM, Volkswagen and Nissan, its EVs are not built in the US and so do not qualify for the tax credit under President Joe Biden’s Inflation Reduction Act....
...The GM deal is the first to be ratified by union members, with members at Ford and Stellantis still voting on their separate contracts....
...The United Auto Workers will expand its strike against Ford and General Motors, while sparing Stellantis from further action, citing progress with the company at the bargaining table....
...The move follows that of crosstown rival General Motors, which yanked its forecast on Tuesday, as the strike approached six weeks....
...Faced by Congressional dithering about renewing some green tax credits, he warned that failure to do so would “virtually [seal] the planet’s fate”....
...The union went on strike against Ford, General Motors and Stellantis last month. This increases the number of strikers to nearly 34,000....
...Bill Ford spoke on Monday as members of the United Auto Workers union continued to strike at plants owned by his company, and by General Motors and Stellantis....
...Separately, the United Auto Workers is on strike against Ford, General Motors and Stellantis in the US....
...Ford, which is planning to re-enter F1 in 2026 in partnership with Red Bull Racing, had called for the matter to be resolved quickly and in a “transparent” manner....
...But now leasing is “a pretty financially compelling option”, she said, because applying the tax credit makes the monthly payments more affordable....
...“If the credits are withdrawn or scaled back, for example, by a future Republican administration, or if Ford can’t deliver, then SK will have to revise its ambitions.”...
...The union called for Ford’s 16,600 workers on strike to return to work in advance of the vote by membership. About 29,000 workers at Stellantis and General Motors will remain on strike....
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