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...On Friday, Ford’s head of global motorsport Mark Rushbrook said: “As a family company that holds itself to very high standards of behaviour and integrity, we expect the same from our partners.”...
...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...
...Ford has scaled back plans for an EV battery plant, while General Motors and Tesla have paused some of their EV expansion efforts....
...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....
...Honda is falling further behind in the battery EV race after scrapping a $5bn plan to develop affordable battery-powered cars with General Motors last year....
...“Then you as a company have to find a way to operate more efficiently.” Ford withdrew its full-year guidance on Thursday....
...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....
...At Ford, approximately 68 per cent of voters favoured ratification. Union workers at General Motors ratified their contract yesterday....
...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....
...Ford announced a supplemental dividend of 18 cents a share for the first quarter, on top of a regular dividend of 15 cents....
...The company said Tuesday it expected pre-tax earnings between $10bn and $12bn in 2024, above analysts’ expectations for $9.5bn....
...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....
...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....
...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....
...Last year, the three biggest US carmakers — Ford, General Motors and Stellantis, which owns Chrysler — suffered strikes during wage negotiations with the United Auto Workers union....
...The Michigan company told investors earlier this year it would earn an adjusted $11bn to $12bn before interest and taxes in 2023....
...Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...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....
...The company said the plant generates about $25bn in revenue a year. The union went on strike against Ford, General Motors and Stellantis last month....
...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...
...In India, Tata Motors shares rose as much as 7.9 per cent in early trading after the group announced it would be split into two listed companies....
...Separately, the United Auto Workers is on strike against Ford, General Motors and Stellantis in the US....
...The alliance also includes smaller partner Mitsubishi Motors....
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