Action 9 Investigates Orlando auto shop business after customer claims he lost thousands
Action 9 talks to one customer who said he paid thousands of dollars for parts that that were never delivered.
Read: Tariff Tension: What tariffs could mean for your wallet?
Carbajal is a self-described car guy. He said, 'I've got a '33 Plymouth Coupe that I restored, a '57 chevy truck, a '66 Mustang for my wife that I restored.'
Looking to find the perfect blower for his '57 Chevy pick-up truck, Carbajal found the website for Unlimited Speedshop.
Read: 'We about fell out of our seat': Elderly couple surprised by $55,000 timeshare bill
That's when the trouble began. After losing thousands of dollars, Carbajal reached out to WFTV.
Action 9′s Jeff Deal presses on the gas and gets to the bottom of the custom car deal gone wrong.
Read: 'The worst nightmare': Homeowner claims solar panels don't work
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Yahoo
3 hours ago
- Yahoo
Ford Announces $5 Billion Push Toward Electric Vehicles. Here's What Investors Need to Know.
Key Points Ford's $5 billion investment will create a whole new kind of assembly line built from the ground up to make electric vehicles, as well as a whole new kind of superior EV battery. The market being targeted by these improvements, however, may or may not be interested when these vehicles become available. Although a risky bet, Ford stock's low valuation already prices in most (if not all) of this risk. 10 stocks we like better than Ford Motor Company › Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service Big news from Ford Motor Company (NYSE: F): The automaker's investing another $5 billion in its electric vehicle business, hoping to drive much-needed sales growth while simultaneously fending off would-be Chinese competitors. The company made the announcement last week. And, kudos. Most long-term shareholders would agree Ford needs to do something -- anything -- to light a fire under its lethargic stock. Ford shares are still priced where they were in 2002, after all, even if decent dividends have been paid for most of the meantime. What's not clear is if this is the best move Ford could make at this time to get shares moving again. Here's what investors need to know about the plan. This investment rethinks its electric vehicles from the ground up The company's already in the EV business, to be clear. It makes a handful of hybrids, although its highest-profile electric vehicles are arguably its all-electric F-150 Lightning and a pretty cool all-electric Mustang called the Mach-E. With the exception of their batteries and electric motors, however, these EVs are still designed and manufactured rather similarly to ordinary combustion-powered automobiles. Ford's $5 billion plan includes a whole new kind of assembly line specifically for electric vehicles. And not just one. This assembly line will be capable of supporting the manufacture of several different kinds of vehicles including a light pickup truck with a targeted starting price point of around $30,000. More than half of the $5 billion investment, however, will be made in the lithium batteries required by all electric vehicles. Ford says its new battery tech can lower the size and cost of EV batteries by around one-third without sacrificing any range per charge, solving one of the EV industry's biggest lingering problems. Ford's existing EV business isn't exactly thrilling ... or profitable As exciting as this decision may be, again, it's not exactly Ford's foray into the electric vehicle market. It's the company's second (and perhaps third) chapter. And its story to date hasn't exactly been thrilling. The aforementioned Mustang Mach-E became available in 2021, while the F-150 Lightning and a new delivery van reached the market in 2022. A few more Ford-made hybrids have been unveiled since then as well. Yet, Ford only sold $3.9 billion worth of electric vehicles last year, down 35% year over year, and only accounting for about 2% of its total top line of $185 billion. Its EV arm also lost a little over $5 billion in 2024, on an operating basis. It's a concern simply because it's difficult to determine if the challenge is a lack of production scale, a lack of demand, or a combination of both. The ambitious goal may be aimed at the wrong market Ford will almost certainly do it right. But, figuring out how to make an affordable and marketable electric vehicle may be of little actual benefit to shareholders. Simply put, Americans as a whole are anything but stoked about battery-powered automobiles. A recent survey performed by the American Automobile Association (which you know as AAA) indicates that only 16% of U.S. adults are likely or very likely to purchase a fully electric automobile. That's down from 2024's figure of 18%, marking three years of declines from 2022's 25%. Conversely, the number of American consumers who are unlikely or very unlikely to purchase an EV has grown from 51% to 63% during that four-year stretch. Ford isn't just a U.S. company, to be clear. It also makes and markets vehicles overseas -- even if largely through partnerships -- where EVs are considerably and increasingly more marketable. For instance, the International Energy Agency believes that 80% of China's new automobile sales will be EVs by 2030, versus only about half of the country's new-car sales now. Ford is mostly an American company though, where it produces roughly two-thirds of its total sales and very nearly all of its profits. And, while the U.S. company's electric vehicle production know-how and battery technology could be utilized elsewhere, it's difficult not to notice the American-ness of its $5 billion plan. The EV production facility in question is located in Louisville, Kentucky, while the new-tech lithium batteries will be manufactured in Marshall, Michigan. Let's also not look past the fact that the one vehicle Ford has touted that will be made by this new assembly line is a low-cost pickup truck, which, of course, is wildly more popular here than anywhere else in the world. This is (almost) an all-in bet on the company's future Given the American-centric nature of Ford's big investment in EVs, largely aimed at a market that isn't exactly in love with battery-powered vehicles, the concerns being voiced are understandable. Although the cost doesn't quite present the existential crisis that some analysts are hinting at, it is a sizable bet for any struggling company that only clears about $5 billion in net income per year and is sitting on more than $100 billion in long-term liabilities. If Americans don't come around on electric vehicles by the time they start coming off of Ford's new assembly line in 2027, the company's current challenges will only worsen. As such, there's no room for any error here, including errors in judgment as to the future marketability of EVs in the United States. That's why any interested investor will want to think very carefully before plowing into a new stake in this carmaker. Still, with Ford shares priced at only about 8 times next year's expected per-share earnings of $1.40 and a trailing dividend yield of just over 5%, it seems most (if not all) of this risk is already priced in. It wouldn't be unreasonable to find a little bit of room in your portfolio for Ford stock at this time. You just might want to contain your risk by keeping any position in this name smaller than you might normally take on. 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 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 $671,466!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,633!* Now, it's worth noting Stock Advisor's total average return is 1,077% — a market-crushing outperformance compared to 185% 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 August 18, 2025 James Brumley has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Ford Announces $5 Billion Push Toward Electric Vehicles. Here's What Investors Need to Know. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 hours ago
- Yahoo
ICE adds two Mustang GT Fastbacks to its fleet – at Trump's request – in latest move to entice recruits
As morale among U.S. Immigration and Customs Enforcement personnel sinks to new lows, the Trump administration hopes spending more than $120,000 on a pair of high-performance Mustang GT Fastbacks will juice the embattled deportation agency's efforts to attract new recruits. Obtaining the vehicles was 'an immediate request by the White House, on Thursday August 7, 2025,' according to a federal procurement document reviewed by The Independent. It says the Mustangs are expected to 'enhance' the federal government's push to add some 14,000 new ICE agents 'by serving as a bold, high-performance symbol of innovation, strength and modern federal service,' and that the Mustang's 'eye-catching design increases public engagement at outreach events and helps attract top talent by conveying a culture of excellence and forward momentum.' 'Therefore, two (2) Ford Mustang GT vehicles were selected as they meet the ICE requirement,' explains the so-called justification-and-approval document, – known as a 'J&A' – which lays out the reasons why the contract was awarded without having issued the usual competitive bidding process. The agency's 'need for the services is so urgent and compelling that providing full and open competition would result in unacceptable delays and seriously hinder the Government's recruiting initiative,' according to the J&A, which was added to a federal contracting database on Tuesday. 'As a result, the sole source procurement methods/strategies must be pursued to meet mission-critical timelines.' ICE paid $121,450 for the cars, closing the deal with Banister Ford in Suitland, Maryland, on August 11. One of the Mustangs was already spotted driving around D.C. on Monday evening, with a gold ICE logo and the words 'Defend the homeland' on the side. An ICE spokesperson acknowledged The Independent's request for comment but did not provide one by publication time. The recruitment push by ICE is expected to last for at least two fiscal years, and the purchase of the Mustangs was 'fully supported' by Trump's signature One Big Beautiful Bill Act, the J&A states. There has been widespread public backlash to ICE as the administration's massive deportation push spreads nationwide. Congressional Republicans have set aside $30 billion for ICE to add some 14,000 immigration officers to support Trump's mass deportation agenda, along with $45 billion in new funding for ICE detention centers. In all, Trump's 'big, beautiful' bill earmarks more than $170 billion for immigration enforcement over the next 10 years, making ICE better-funded than most foreign militaries. At the same time, the government has halted important scientific research, hollowed out social programs and reduced people's access to healthcare – all in the name of saving money. Last week, it emerged that ICE spent more than $700,000 to customize a group of SUVs and pickup trucks to be used for recruitment, including a Ford Raptor and a GMC Yukon tricked out to mimic the look of Donald Trump's private Boeing 757. A video posted by the Department of Homeland Security, ICE's parent agency, showed the SUVs cruising through Washington, D.C., and parked in front of the White House, the U.S. Capitol, the Lincoln Memorial and the Washington Monument, set to music by rapper DaBaby. All are painted navy blue, with red-and-white racing stripes and a gold ICE logo, which reflect the color scheme of Trump's aircraft. 'President Donald J. Trump' is printed in gold on the rear window, and, like the Mustangs, the words 'Defend the homeland' appear on the side. The trucks cost more than $500,000, with another $227,000 spent on custom automotive wraps, according to federal procurement records. Joining ICE is now easier than ever, as Secretary of Homeland Security Kristi Noem lowered the minimum age to 18 and did away with the existing maximum. ICE is also offering signing bonuses of up to $50,000, along with student loan forgiveness and other perks for new recruits. The agency is specifically trying to target 'Gen Z and early-career professionals,' as well as former law enforcement officers, military veterans and people from the legal field, according to a recent request for information. ICE hopes to target more than 42 million people across social media and via ads on Hulu, HBO Max, Amazon Prime and other streaming networks, the agency says. 'This is a critical priority,' according to the agency. 'ICE has an immediate need to begin recruitment efforts and requires specialized commercial advertising experience, established infrastructure, and qualified personnel to activate without delay.' An ICE hiring expo is scheduled for August 26 and 27 at Esports Stadium in Arlington, Texas.
Yahoo
a day ago
- Yahoo
Ford takes new risk after company suffers billions in losses: 'The most radical redesign of how we manufacture cars'
After losing billions of dollars in its electric vehicle division over recent years, Ford has announced a massive pivot that will completely reimagine its vehicle assembly process, The New York Times reported. "We tore up the moving assembly line that you see here today and we came up with a brand-new concept," Ford CEO Jim Farley said at a plant in Louisville, Kentucky, per the Times. "This is the most radical redesign of how we manufacture cars since the Model T." Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You Great Rates and Award-Winning Service The Insurance Savings You Expect In 2021, the year after Farley took over as CEO, Ford came out of the gates fast with an ambitious plan to expand its EV lineup, releasing all-electric versions of its popular Mustang sports car and F-150 pickup. At the time, the company appeared poised to challenge Tesla for EV dominance in the U.S. market. However, in the years since, Ford's EV wing has suffered massive losses while Tesla has managed to significantly drop the price of its vehicles, making it more difficult for Ford to compete. According to the Times, Ford's EV division has lost an eyewatering $12 billion, including $2.2 billion in the first six months of 2025. Despite these losses, the U.S. electric vehicle market has demonstrated signs of consistent growth in recent years. For the first three months of 2025, EV sales in the U.S. increased by 11.4% compared to the previous year, with nearly 300,000 EVs sold, according to Cox Automotive. After previously announcing cutbacks to its EV program, Ford said it will be shifting to lower-cost materials, which should lower vehicle prices and help Ford better compete with new EVs coming out of China. "I'd say this puts them within spitting distance of the Chinese," Sandy Munro, an auto consultant and engineer, said of Ford's cost-saving moves, per the Times. Despite the billions of dollars at stake, Farley sought to manage expectations. "We are doing so many new things I can't tell you with 100 percent certainty that it will all go just right," Farley said, per the Times. If all goes well, having more affordable EVs on the market would be a win for consumers and the planet. In addition to their environmental benefits, electric vehicles can help consumers save significant amounts of money on gas. Do you think a majority of Americans will have EVs in 20 years? Absolutely Only in some states No way I'm not sure Click your choice to see results and speak your mind. Driving an EV can save people up to $2,200 every year on fuel costs, according to the Department of Energy. Installing solar panels allows drivers to take the cost savings of an EV even further. Charging off home solar is cheaper than off-grid or at a public charging station, and it comes with the added benefit of knowing that the vehicle is powered by cleaner, renewable energy from the sun. EnergySage offers free tools that make it easy to compare quotes among vetted local installers, while also identifying available tax credits and other incentives, saving customers up to $10,000. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
