Have To 'Make Over $100,000 To Afford A New Car' - Former Ford CEO Says, While Talking Tesla's Price Cuts, Demand Issues
Portfolio Pulse from Chris Katje
Former Ford CEO, Mark Fields, has commented on the rising costs of vehicles, weakened demand, and the potential impact of a union strike on automotive companies. He noted that Tesla recently announced price cuts to its Model X and Model S in the U.S., attributing this to demand issues and the high cost of new vehicles. Fields also discussed the ongoing contract negotiations between automakers and the United Auto Workers (UAW), stating that labor represents around 10% of the cost of vehicles. He suggested that an increase of 20% or less in wages could be manageable for companies selling high-margin pickups and SUVs.
September 01, 2023 | 9:32 pm
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NEGATIVE IMPACT
Former Ford CEO's comments on the rising costs of vehicles and the potential impact of a UAW strike could affect investor sentiment towards Ford.
The comments made by the former Ford CEO about the rising costs of vehicles and the potential impact of a UAW strike could lead to negative sentiment among investors, potentially affecting Ford's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Tesla's recent price cuts to its Model X and Model S in the U.S. could indicate demand issues, potentially affecting its stock price.
Tesla's recent price cuts to its Model X and Model S in the U.S. could be seen as a sign of demand issues, which could negatively impact investor sentiment and its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80