|Bid||37.16 x 1300|
|Ask||37.47 x 3100|
|Day's range||37.05 - 37.51|
|52-week range||30.56 - 41.90|
|Beta (3Y monthly)||1.21|
|PE ratio (TTM)||5.93|
|Earnings date||29 Oct 2019|
|Forward dividend & yield||1.52 (4.09%)|
|1y target est||48.17|
Ford (F) stock has slumped 5.1% in August amid criticism from President Trump, rising trade tension, and the bond yield curve inversion.
Last month, four automakers, including Ford, made a voluntary deal with California to make cars cleaner and more fuel efficient. Trump isn't happy with the deal.
(Bloomberg) -- President Donald Trump lashed out at automobile manufacturers who’ve pushed back on his administration’s plan to weaken fuel-efficiency requirements, dismissing them as “politically correct.”“My proposal to the politically correct Automobile Companies would lower the average price of a car to consumers by more than $3000, while at the same time making the cars substantially safer,” Trump said in a tweet on Wednesday. “Engines would run smoother. Very little impact on the environment! Foolish executives!”The tweet was apparently prompted by a compromise that Ford Motor Co., Honda Motor Co., BMW AG and Volkswagen AG have reached with California’s clean-air regulator to bolster the fuel efficiency of autos sold in the U.S. through 2026, defying the Trump administration’s plan. Gavin Newsom, California’s Democratic governor, has called on other automakers to join the pact though none have thus far.August 21, 2019 That deal represents the most clear-cut example of auto industry unease with the Trump administration’s August 2018 proposal to dramatically ease fuel economy and vehicle greenhouse gas emissions standards drafted by the Obama administration, which sought to boost average fuel efficiency to roughly 50 miles per gallon by 2025.The Trump administration instead recommended capping mileage requirements at a 37-mile-per-gallon fleet average after 2020, and revoking California’s authority to regulate tailpipe greenhouse gas emissions, which it’s done in coordination with Washington for several years.Trump regulators have argued that capping fuel economy standards at 2020 levels would lead to less-expensive new cars than under the current rules, allowing consumers to replace their older vehicles with newer, safer ones more rapidly and avoid thousands of traffic fatalities.Experts and EPA career staff have disputed those assertions.Automakers for months have urged the Trump administration to moderate that plan, fearing a lengthy legal battle over California’s regulatory powers would throw the critical standards into uncertainty for years. Those efforts have had little sway so far on the White House, which rejected a plea by 17 carmakers last month to work out a compromise with California.The companies also want to avoid a split market -- with federal mileage requirements in most states and more stringent rules in more than a dozen states that adhere to California’s standards. The states that follow California standards account for more than a third of all U.S. auto sales.“The Legendary Henry Ford and Alfred P. Sloan, the Founders of Ford Motor Company and General Motors, are “rolling over” at the weakness of current car company executives willing to spend more money on a car that is not as safe or good, and cost $3,000 more to consumers,” Trump said later Wednesday in another tweet. “Crazy!”Ford, in a statement Wednesday evening, said the company was “proud to lead the way in taking the right actions for the environment while at the same time protecting consumer affordability and the short- and long-term health of the industry.”(Updates with Ford statement in final paragraph.)\--With assistance from Keith Naughton.To contact the reporter on this story: Ryan Beene in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Joshua Gallu, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Today, in a tweet, US President Donald Trump called automobile company executives “foolish.” While Ford and GM are in the green, Tesla is down.
(Bloomberg) -- When Daniel Tijerina decided to trade-up from a Subaru Impreza sedan into a luxury brand, he didn’t look at a sporty coupe with speed aplenty or cushy sedans with sleek silhouettes. Instead, he drove home last month in a new Cadillac XT4, a plastic-clad crossover SUV.What it lacks in handling and panache, the squat General Motors Co. sports utility vehicle made up for in attributes the 25-year-old credit analyst wanted: A car-like ride with high seating and touchscreen apps that make it easy to order a pizza en route to his Fort Worth, Texas-area home.“It obviously sits higher, but it doesn’t feel any different from a car when it comes to driving and performance,” Tijerina said.Those popular features help explain why SUVs now make up 60% of luxury vehicle sales in the U.S., according to data from Edmunds, pushing aside the once mainstay sedan as the premium ride of choice for well-heeled auto buyers.For generations, the gilded carriages for wealthy American households were large, comfy saloon cars from Ford Motor Co.’s Lincoln brand and GM’s Cadillac. Those storied nameplates lost ground in more recent decades to Asian and European marques such as BMW AG, Daimler AG’s Mercedes-Benz and Lexus from Toyota Motor Corp. But until recently those brands’ best-sellers have been sedans.The earliest luxury SUVs date back to the late 1990s with vehicles such as the Lexus RX and Lincoln Navigator. But those brands still viewed sedans such as the Lexus LS and Lincoln Town Car as their flagship models.Sport utilities and crossovers first overtook sedans in the mainstream vehicle market five years ago. It took longer for luxury buyers to make a similar transition, but now automakers are racing to ramp up production to meet demand. Edmunds says the number of SUV options has grown to more than 60 different vehicles, double the number offered a decade ago.“The luxury segment has adapted very quickly,” said Jeremy Acevedo, an analyst at Edmunds. “We’ve really seen them rush out fresh vehicles to the market.”These days, sedans are lingering on dealer lots while crossovers and SUVs fly out of showrooms. Seven of the 10 best-selling luxury vehicles last year were crossovers or SUVs, according to Car and Driver magazine. Those include the Cadillac XT5 (No. 9), Mercedes GLC (No. 5) and Lexus RX (No. 2). Sports car specialist Porsche got nearly two-thirds of its sales from SUVs in 2018, and Aston Martin says the debut of its first SUV later this year is critical to the British automaker’s viability.Years into the luxury SUV craze, analysts say the shift away from sedans shows no signs of reversing course, with dozens of more crossover and SUV launches in the pipeline. Bank of America Merrill Lynch analyst John Murphy estimates almost half of new or redesigned crossover utility vehicles introduced over the next four years are aimed at the luxury market.“It might top out at some point not too far in the future, but it looks like there’s a little bit more gas left in the tank in the SUV transition,” Acevedo said.Rising gasoline prices snuffed out a SUV boomlet in the mid-2000s, and a similar spike in pump prices today might have a dampening effect. Another possible diversion could be the growing popularity of electric motor-powered sports sedans.Tesla Inc.’s Model 3 was the best-selling luxury vehicle last year and the upcoming electric-powered Porsche Taycan model from Volkswagen AG is also turning heads.Jim Navarro and his wife have owned several luxury SUVs going back more than 20 years, including an Audi, Land Rover and Range Rover. His latest is an all-wheel drive Volvo XC90, which the Las Vegas real estate broker purchased last month.But the 55-year-old trendsetter is already thinking about being one of the first Taycan owners. “That might be our next vehicle in our family,” he said.To contact the reporter on this story: Kyle Lahucik in Southfield at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, David Welch, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Chinese electric car maker NIO delivered 837 cars in July, down from 1,340 cars in June. Tesla’s delivery growth range was 110%–221% in the last year.
Auto stocks and the US equity market slumped with fresh fears of an economic recession. Today, the Dow Jones Industrial Average fell more than 600 points.
Oil prices saw a significant spike on Tuesday morning as Washington announced that it would delay the 10 percent it had planned to place on some Chinese products
Tit-for-tat tariffs have increased raw material costs for the global auto industry, which is already dealing with weak demand in both China and the United States. Ford Motor Co has a cash buffer of $20 billion for a potential downturn event, Ford North American Chief Financial Officer Matt Fields said at a J.P. Morgan Conference in New York. General Motors has $18 billion in cash, with the potential to pay two years worth of dividends, the company's finance head, Dhivya Suryadevara, said at the conference.
Over the weekend, Tesla CEO Elon Musk compared gasoline cars to steam engines. Yesterday, Tesla also teased legacy automakers in a tweet.
US automakers have been hit hard lately. However, President Trump’s policies and the trade war had a greater impact on automakers than the Fed's policies.
Tesla (TSLA) has been slapped with a lawsuit for allegedly limiting older vehicles' battery capacity. It was also sued this month for a collision in March.
(Bloomberg) -- Freshly disclosed records suggest the National Highway Traffic Safety Administration may be preparing a formal investigation into Tesla Inc.’s driver-assistance system Autopilot, a former agency official said.The agency has issued at least five subpoenas since April 2018 for information about Tesla vehicle crashes, according to NHTSA correspondence with the electric-car manufacturer released Tuesday by Plainsite. The legal transparency group obtained the documents through a public records request for communications regarding Autopilot.NHTSA also asked Tesla to provide results of internal tests on a sub-component of the Model 3 sedan’s automatic emergency braking system, and sales figures of vehicles sold with and without Autopilot since mid-2016, among other requests, according to the records.“I think what this shows is that NHTSA has concerns about Autopilot performance,” Frank Borris, a former director of the Office of Defects Investigation at NHTSA, said after reviewing the documents. He said the subpoenas could mean the agency “is gathering information that would be supportive of a formal investigation.”NHTSA doesn’t have an active defect probe into Tesla, and the agency may not open one. The regulator declined to comment directly on whether it will, saying in an emailed statement that it’s “committed to rigorous and appropriate safety oversight of the industry and encourages any potential safety issue be reported to NHTSA.”“Any regulator like NHTSA would be interested in new vehicle technologies and how they make our highways safer,” Tesla said in an emailed statement. “We routinely share information with the agency while also balancing the need to protect customer privacy. Tesla has required subpoenas when customer information is requested in order to protect the privacy of our customers.”Tesla shares rose 1.1% to $236.08 as of 9:40 a.m. Thursday in New York. The stock has dropped about 30% this year.‘Not Normal’While Tesla described the documents as “business as usual,” Borris said use of subpoenas is atypical and suggests a heightened degree of interest in Autopilot. He was speaking based on his past experience at the regulator and doesn’t have specific knowledge of current agency matters.“The fact that they’ve had to issue subpoenas about it indicates that NHTSA hasn’t been satisfied by Tesla’s responses, because that’s just not normal,” said Borris, who’s now an auto-safety consultant.Tesla Chief Executive Officer Elon Musk has staunchly defended Autopilot, saying the system improves safety and monitors more of the road than a human can do alone. The company releases quarterly data that it says demonstrates the technology improves safety. Its latest report says Tesla registered one accident every 3.27 million miles driven with Autopilot engaged, compared with one every 1.41 million miles driven without use of the system or the company’s active-safety features.“No one knows about the accidents that didn’t happen, only the ones that did,” Tesla said in a March 2018 blog post about a fatal crash involving a Model X in California. “The consequences of the public not using Autopilot, because of an inaccurate belief that it is less safe, would be extremely severe.”Crashes, ClashesNHTSA sent the subpoenas and other requests amid a series of highly publicized Tesla crashes dating back to early 2018 that attracted scrutiny from federal agencies and safety advocates alike.Two subpoenas were issued March 11, according to the records, with one seeking information and data about a Tesla that crashed just 10 days prior in Delray Beach, Florida, where a Model 3 driver was killed when the car slammed into the side of a semi-truck with Autopilot engaged.NHTSA and the National Transportation Safety Board have investigated several Tesla crashes in recent years, and at times NTSB has clashed with company officials.The safety board removed Tesla from its regular participation in its probe of the Model X crash in March 2018, saying the company disclosed information about the case in spite of an agreement not to do so while the probe was underway.Tesla said in a statement at the time it was withdrawing from its status as a party in the investigation because NTSB rules prohibited it from being transparent. The company vowed to continue providing technical data to the safety board.The NTSB in 2017 found that Tesla’s Autopilot design, which allowed drivers to engage it on roads for which it wasn’t designed, contributed to the cause of a fatal crash involving a Model S in Florida in 2016.Close MonitoringThe records released this week show that NHTSA has continued to closely monitor Tesla’s Autopilot technology after the agency in early 2017 closed an earlier probe into the system that found no defect.In May, Consumer Reports called for the agency to open up another inquiry. The magazine published a study of automated driving systems months earlier that found Tesla’s Autopilot performed better than others, but it knocked the company for allowing the system to be used on roads it isn’t yet able to handle. Autopilot also lagged peers in keeping drivers engaged: General Motors Co.’s Super Cruise feature took four seconds to warn a driver to pay attention, while Autopilot waited 24 seconds.Data on driver engagement that is included in Tesla’s communications with NHTSA point to a similar issue, said David Friedman, a former deputy administrator at NHTSA during the Obama administration, who’s now vice president of advocacy at Consumer Reports.“Data like this show the system does not appear to be able to keep the driver engaged, and it’s one company, not the others in the space,” Friedman said. “To me, that raises real red flags about a possible defect.”(Updates with shares trading in the seventh paragraph)\--With assistance from Dana Hull.To contact the reporters on this story: Ryan Beene in Washington at email@example.com;Gabrielle Coppola in New York at firstname.lastname@example.org;Alan Levin in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org;Craig Trudell at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The autonomous driving industry is still in its infancy, but the technology is advancing rapidly. Multiple companies already have pilot and early-stage programs.