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F Jun 2024 9.170 put
- Reuters
Detroit Three automakers should exit China, leading analyst says
Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst said on Tuesday. “I think you have to see the [Detroit Three] exit China as soon as they possibly can,” said John Murphy, Bank of America Securities analyst, at his annual presentation of “Car Wars,” a closely watched industry report. Murphy's guidance for the Big Three came during a discussion of the harsh cost-cutting measures they would have to take to be competitive with EV manufacturers like Tesla, as well as carmakers abroad.
- Reuters
Ford tests shipping cars from Mexico's Guaymas port to cut logistics costs
MEXICO CITY (Reuters) -Ford shipped its first batch of cars on Tuesday from the once-neglected Guaymas port near its plant in the northern Mexican state of Sonora in a project that, if fully launched, could cut the U.S. automaker's logistics costs, according to the state governor, by 30%. The initial shipment of pickups and Broncos, headed for Chile, is part of a broader revamp of the Guaymas port, an infrastructure project headed by Mexico's outgoing President Andres Manuel Lopez Obrador. Ford has long been trucking its autos nearly 2,000 kilometers (1,242 miles) over land from Hermosillo to the port of Lazaro Cardenas, in the state of Michoacan, Sonora Governor Alfonso Durazo said in an interview.
- Barrons.com
Tesla’s Model Y Is the Most American Car. How a Japanese Auto Maker Ended Up No. 2.
The Model Y topped Cars.com’s American-Made Index for the third consecutive year. Tesla is the only company that assembles all the cars its sells in the American market in the U.S.
