Construction at Walker & Tecumseh nearly complete
Construction at Walker and Tecumseh should finish this month, but lane reductions will stay until July.
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Globe and Mail
4 hours ago
- Globe and Mail
Does the EV Industry Have a Truck Problem?
There's a truth in Detroit for Ford Motor Company (NYSE: F) and General Motors, and that's that trucks are king. The dirty little industry secret, if you can call it a secret, is that full-size trucks cost only marginally more to produce than a passenger car, yet the former can sell for two to three times as much. Full-size truck sales are the backbone of Detroit automakers, but as the industry transitions to electric vehicles the scene may be set to change. In fact, the EV industry might have a truck problem, and that would be horrible news for auto investors. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Disappointing results Long, long ago Tesla (NASDAQ: TSLA) CEO Elon Musk essentially mocked stereotypical trucks noting their stale design. Perhaps that's why the young EV maker swung for the fences with the Cybertruck's controversial design. But the unique design didn't stir up sales as much as it stirred conversation. Originally predicted to reach annual sales between 250,000 to half a million units, the Cybertruck has been a commercial flop. It reached only 40,000 U.S. registrations last year, and while that was good enough to be the top EV pickup truck, it was a fraction of original estimates. Because Tesla doesn't break out its sales per model, registrations can serve as a proxy to sales. Ford's highly anticipated F-150 Lightning also disappointed compared to initial hype. Ford noted before the truck's launch it had 200,000 reservations and anticipated producing 150,000 trucks annually. Its actual results were a more modest 24,695 registrations in 2023 before growing to 32,893 in 2024. Rivian (NASDAQ: RIVN), which only offers the R1T, R1S, and its electric delivery van, relies on its truck for a substantial chunk of its business, but also saw less-than-thrilling results. Rivian last reported its backlog in late 2022 at 114,000 for the R1T and R1S combined, and not only did its registrations of 11,311 feel lackluster in 2023, they actually declined to 9,876 last year. What's the problem? The problem facing investors and their love of truck profits is twofold. On one end, we have the consumer issue, which is the stigma that electric powertrains are forced to their brink when it comes to performance and towing. Consumers that use their trucks as tools sometimes have difficulties with the concept of EVs performing at the required level. On the other end, the business case also gets more difficult for trucks that require towing power. Towing requires immense power and thus larger batteries which, as the most expensive component of an EV, pushes the cost up significantly. That eats into the precious juicy margins that full-size trucks have historically presented. The head of Rivian's rival company, Lucid, had this to say when discussing the potential of Lucid making an electric truck: "I really think that it's very tough to make an electric pickup truck work today," Lucid CEO and CTO Peter Rawlinson said, according to InsideEVs. "Not one that's usable and cost-effective." At the end of the day, it's important for investors to note that trucks are struggling in the EV industry. Full-size trucks have long been the backbone for automakers that thrive in the segment. Full-size trucks haul profits like few other segments can. But without a great deal of battery technology progress or cost reduction, the day of lucrative full-size truck profits could be over for automakers in the near term. Should you invest $1,000 in Ford Motor Company right now? Before you buy stock in Ford Motor Company, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ford Motor Company wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025
CBC
9 hours ago
- CBC
3 in hospital after motorhome fire spreads to gas station near Chilliwack, B.C.
Social Sharing A fire that began in a motorhome near Chilliwack, B.C., on Saturday spread to a nearby gas station, sending three people to hospital — one in critical condition. The incident happened just before noon at a fuel station off Highway 1 on Bridal Falls Road in Rosedale, east of Chilliwack. In a statement to CBC News, B.C. Emergency Health Services (BCEHS) said it received a call at 11:58 a.m. and responded with multiple units, including a critical care helicopter. The person in critical condition was airlifted to hospital and the two others were transported by ground in stable condition, BCEHS said. WATCH | Motorhome engulfed in flames near fuel pumps as thick smoke rises: Gas station and motorhome fire near Chilliwack leaves 1 person in critical condition 2 hours ago Duration 0:26 A motorhome caught fire Saturday at a Shell gas station near Bridal Falls Road in Rosedale, B.C., sending flames and thick black smoke into the air. The fire spread to the fuel station and left one person in critical condition. Video captured by a passing driver shows the blaze up close. (Submitted by Stéphane R. Hébert) According to a statement from the Fraser Valley Regional District, the gas bar area of the Shell station at 53560 Bridal Falls Road was fully engulfed when fire crews arrived. A total of 33 firefighters from Popkum, Chilliwack and Agassiz departments were on scene. The fire was brought under control about an hour after crews arrived. The other buildings at the site that were not attached to the gas bar also sustained some damage, the regional district said. The site remains cordoned off for safety. RCMP also attended the scene. Video shared on social media by Stéphane R. Hébert, who was passing by at the time, shows thick black smoke rising into the air and a motorhome fully engulfed in flames near fuel pumps. "We changed lanes to be as far away from it as possible because it appeared to be burning quite close to the propane tank," Hébert told CBC News. "We were concerned that it might explode and so we wanted to get past it as quickly as possible." The cause of the fire remains under investigation.
CBC
11 hours ago
- CBC
Motorhome fire spreads to gas station near Chilliwack, B.C., sends 3 to hospital
Social Sharing A fire that began in a motorhome near Chilliwack, B.C. on Saturday spread to a nearby gas station, sending three people to hospital, with one in critical condition. The incident happened just before noon at a fuel station off Highway 1 on Bridal Falls Road in Rosedale, east of Chilliwack. In a statement to CBC News, B.C. Emergency Health Services (BCEHS) said it received a call at 11:58 a.m. and responded with multiple units, including a critical care helicopter. The person in critical condition was airlifted to hospital and the two others were transported by ground in stable condition, BCEHS said. WATCH | Motorhome engulfed in flames near fuel pumps as thick smoke rises: Gas station and motorhome fire near Chilliwack leaves 1 person in critical condition 29 minutes ago Duration 0:26 A motorhome caught fire Saturday at a Shell gas station near Bridal Falls Road in Rosedale, B.C., sending flames and thick black smoke into the air. The fire spread to the fuel station and left one person in critical condition. Video captured by a passing driver shows the blaze up close. (Submitted by Stéphane R. Hébert) The Chilliwack Fire Department said it was called in for mutual aid support after the blaze spread from the motorhome to the gas station. Assistant Fire Chief Krista Minar said Chilliwack firefighters assisted the Popkum Fire Department, which is leading an investigation into the fire. RCMP also attended the scene. Video shared on social media by Stéphane R. Hébert, who was passing by at the time, shows thick black smoke rising into the air and a motorhome fully engulfed in flames near fuel pumps. "We changed lanes to be as far away from it as possible because it appeared to be burning quite close to the propane tank," Hébert told CBC News. "We were concerned that it might explode and so we wanted to get past it as quickly as possible." CBC News has reached out to the Fraser Valley Regional District for details on the extent of the damage and whether there is any ongoing risk to the area.
