UPDATED, Feb. 14, 2020 – Ford lost nearly $1.7 billion in Q4 2019 after, as it warned in January, taking a big accounting hit from employee pension liabilities and retirement benefits. Ford was hit with high warranty costs related to flawed clutch-transmissions in the Fiesta and Focus and problems with the launch of the Explorer … Continued
The year of wild cards continued with a momentous Friday leaving us with mounting concerns about the coronavirus, stock market declines resulting in net declines for the year, Great Britain separating from the European Union, and the impeachment trial heading for a vote. It was also a week filled with new and important economic data. … Continued
Anne Cox Chambers, daughter of Governor James M. Cox and board member, passed away at the age of 100. Those wishing to share their condolences are encouraged to visit http://tribute.coxenterprises.com. Mrs. Chambers was born Dec. 1, 1919 in Dayton, Ohio. She was a business leader, political activist and generous philanthropist. For 33 years, she co-owned … Continued
This Sunday during the Advertising Bowl General Motors will begin talking about a new full-size electric pickup: The GMC Hummer EV. The teaser campaign is underway. By our count, nine different automotive companies are making some pitch during the game, shelling out millions to do so, but the GMC Hummer EV is perhaps the most … Continued
The Federal Reserve officially left short-term rate policy unchanged, which was expected. The Fed is determined to leave monetary policy parked in the absence of clear evidence of a material change in the direction of the economy. Even though their policy statement acknowledged that they have downgraded their view of the pace of consumer spending growth, … Continued
Tesla will confirm Q4 2019 financial results later today, and we can certainly expect a lot of attention on the numbers and what Elon Musk has to say. After announcing a surprise Q3 profit, Tesla has been on a charge of late, debuting new product – Cybertruck! – and making progress toward overseas production in … Continued
In a year our chief economist notes will be filled with Wild Cards, we believe the auto industry will be pleased by the progress made today with President Trump signing the new United States-Mexico-Canada Agreement (USMCA), the update to the original North American Free Trade Agreement (NAFTA). In signing the agreement, the auto industry is … Continued
ATLANTA, Jan. 29, 2020 – January is always one of the slowest months for vehicle sales, and there’s little reason to expect anything different this year. The selling pace slowed last quarter to 16.8 million, below 2019’s final sales of 17 million, and that same softness is likely to continue into the first part of … Continued
Dale Pollak likens himself to a doctor who has a prescription to fix used-vehicle departments. The remedy does not go down easy. “It’s going to be really, really, really distasteful,” Pollak tells dealers. “It’s going to be hard for you to take this medicine.” But take the medicine they must, if they want to be … Continued
We are three full weeks into 2020, the year of wild cards. Concern about Iran has now been replaced by the coronavirus spreading from China. While the impeachment trial continued here, the U.K. cleared the final legal hurdle for Brexit to happen Friday, and, while in Davos, President Trump threatened the EU with tariffs on autos … Continued
