NADA End Of Day Automotive News Recap - January 16, 2019
Final Edition: End-of-Day Recap
Ford Motor Co. warned its 2018 profit will fall short of Wall Street expectations and declined to give a specific forecast for this year, illustrating the challenges ahead as it undertakes a major restructuring amid uncertainty in the global auto market.
Source: The Wall Street Journal
General Motors code named its November announcement to cut nearly 15,000 jobs in North America and restructure itself “Turbo,” suggesting a leaner approach for the largest U.S. automaker would “accelerate its transformation.”
Ohio Gov. Mike DeWine, on his third day in office Wednesday, trekked to the Detroit auto show to speak to automakers and understand what General Motors Co. needs to prevent the closure of its assembly plant in Lordstown, Ohio.
Source: The Detroit News
A Ford F-150 or Super Duty pickup was sold every 29.3 seconds on average, with nearly 1.1 million trucks purchased globally in 2018, Ford Motor Co. said. It crushed sales forecasts of what industry analysts have called an insatiable appetite.
Source: Detroit Free Press