Japanese Automakers (Toyota, Honda, Nissan) πŸ€‘

Industry Updates: Toyota/Honda/Nissan, Ford, Nikola Motors, Tesla, and UAW
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Japanese Automakers (Toyota, Honda, Nissan) πŸ€‘

Experiencing temporary financial relief due to the weak yen, offsetting declining sales in China and electric vehicle transition challenges.

πŸ’°πŸ“ˆπŸ’ͺEarnings topped estimates, with currency factors playing a significant role. The long-term impact of the weak yen remains uncertain.

Ford 🀝

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. πŸ€“πŸπŸ’Ώ

Nikola Motors πŸ‘©β€πŸš’

Recalling 209 trucks after discovering a battery fire was caused by a coolant leak, not sabotage.

πŸ”₯πŸ˜³πŸ‘‰ The company identified a supplier component as the source and is working on a fix. Affected trucks can remain in service during the resolution.

Tesla βœ‚οΈ

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. βœ‚οΈπŸš™πŸ‡¨πŸ‡³

U.S. President Joe Biden & Auto Industry 🎒

Urged the UAW union and Detroit's Big Three automakers (Ford, General Motors, Stellantis' Chrysler) to forge a fair agreement before contracts expire.

πŸ‘¨β€πŸ’ΌπŸŽ‘πŸ‘©β€πŸ­ 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.

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