Ford and General Motors have withdrawn their full-year results forecasts due to uncertainty over their tentative deals with the United Auto Workers and the pressure on electric vehicles as customers hesitate to pay a premium for EVs. Both automakers are facing challenges in the evolving EV market and competition from China.
On Thursday, Ford withdrew its full-year results forecast, citing"uncertainty" over its tentative deal with the United Auto Workers and warned of continued pressure on electric vehicles as customers balk at paying a premium for EVs over other models.
"A great product is not enough in the EV business anymore," Farley continued."We have to be totally competitive on cost."General Motors CEO Mary Barra "We are reducing our fixed costs by $2 billion net of depreciation and amortization as we exit 2024," Barra wrote in a letter to shareholders.
Ford General Motors Forecasts United Auto Workers Electric Vehicles Evs Premium Challenges Competition China
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Early adopters have adopted’: US carmakers slow EV growth plansFord, General Motors and Tesla have all pumped the brakes on expanding EV production capacity.
Read more »
Toyota sales chief says EVs ‘impractical’ for Australian drivers as Tesla retaliates against ‘cynical’ attackSean Hanley says hybrid vehicles are ‘better fit’ in Australia but Electric Vehicle Council says brand’s comments could undermine lithium industry
Read more »
‘There is nothing the British can do about it’: General Chauvel’s extraordinary decision at BeershebaThe Australian general picked the Australians to charge straight at the town.
Read more »
‘There is nothing the British can do about it’: General Chauvel’s extraordinary decision at BeershebaThe Australian general picked the Australians to charge straight at the town.
Read more »
‘There is nothing the British can do about it’: General Chauvel’s extraordinary decision at BeershebaThe Australian general picked the Australians to charge straight at the town.
Read more »