Experiencing temporary financial relief due to the weak yen, offsetting declining sales in China and electric vehicle transition challenges.
π°ππͺEarnings topped estimates, with currency factors playing a significant role. The long-term impact of the weak yen remains uncertain.
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Hired Apple veteran Peter Stern to lead the new division "Ford Integrated Services." He will work with CEO Jim Farley on Ford's restructuring plan, Ford+, emphasizing the push into modern, consumer-oriented technology. π€ππΏ
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Recalling 209 trucks after discovering a battery fire was caused by a coolant leak, not sabotage.
π₯π³π The company identified a supplier component as the source and is working on a fix. Affected trucks can remain in service during the resolution.
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Reduced prices for Model Y in China by up to $1,900 and offers new incentives on Model 3, aiming to maintain competitiveness. The move may clear the previous generation's remaining units ahead of expected updates to Model 3. βοΈππ¨π³
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Urged the UAW union and Detroit's Big Three automakers (Ford, General Motors, Stellantis' Chrysler) to forge a fair agreement before contracts expire.
π¨βπΌπ‘π©βπ The call comes as the UAW seeks new contracts by September 14, with potential strikes and demands for higher wages, benefits, and inclusion of battery plant workers.