Latest news with #FordExplorer
Globe and Mail
19 hours ago
- Automotive
- Globe and Mail
Ford Stock (NYSE:F) Posts Small Gain After Unexpected Shutdown on Explorers
The Ford Explorer might be one of the biggest developments at legacy automaker Ford (F) since the Mustang, or even the Model T. It represented a fundamental change in the way people bought cars that is still reflected today. And recently, the Ford Explorer found its production halted for want of one very important and very unlikely nail. That revelation did not slow down Ford shareholders, though, as they gave shares a fractional boost in Thursday afternoon's trading. Confident Investing Starts Here: The nail in question? Magnets. Reports noted that a Ford factory in Chicago that specializes in Ford Explorers had to briefly shut down after a supplier could not get Ford a needed load of small magnets. The magnets in question, as it turns out, were Chinese-made. Though the shutdown did not last long, reports noted, it was still enough to shut things down for a while. Production, however, started up again just recently. This news comes at a bad time for Ford, as it turns out that Ford dealers have a lot fewer Explorers on their lots than they—or their customers—would like. Generally, dealers like to keep a 60-day supply on hand, with 15 days in transit, at any given time to ensure that there is a car ready for the most customers. But Ford dealers had just 48 days' worth of Explorers on hand to kick off May, and when you throw in that brief production slowdown, that might cause a hiccup going into July sales. That could be a problem, given Fourth of July sales events. One For the Marketing Team Meanwhile, in a move that could well offer some benefits for the Ford marketing operations, new reports emerged that one of Ford's top names—John Lawler, the vice-chair of Ford's board of directors—has a specific car as his daily driver of choice: the Ford Mustang Mach-E. This effort may change some minds, especially given that Lawler is almost certainly driving this daily driver on Michigan roads in the wintertime, which can be a terrible combination for electric vehicles. Couple enhanced demand on the battery—it has to run not only the engine but also the heating system—with an environment that reduces battery charge and it could be a recipe for trouble. But Lawler seems to have no trouble here, despite noting that 'range anxiety' is a problem that requires pre-planning trips to work around effectively. Is Ford Stock a Good Buy Right Now? Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, 12 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 13.59% loss in its share price over the past year, the average F price target of $9.71 per share implies 4.66% downside risk. See more F analyst ratings Disclosure Disclaimer & Disclosure Report an Issue
Time of India
a day ago
- Automotive
- Time of India
Export controls are endangering the fragile U.S.-China truce
BEIJING: After stepping back this month from an escalating and dangerous war of tariffs, the United States and China are now threatening to undermine their uneasy truce. On May 12, the countries announced after weekend meetings in Geneva that they would suspend most of their recently imposed tariffs. Since then, however, both governments have shown that they are still prepared to wield controls over critical exports as weapons against one another, with moves that are potentially even more damaging to trade and global supply chains. China has restricted its exports of rare earth magnets, which are crucial for cars, semiconductors, aircraft and many other applications. Close to 90% of the world's rare earth metals, including magnets, are produced in China. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo And the United States on May 13 banned the latest semiconductors from Huawei, a Chinese electronics giant. Then on Wednesday, President Donald Trump suspended the shipment of American semiconductors and some aerospace equipment needed for China's commercial aircraft, the C919, a signature project in China's push toward economic self-reliance. The increasing use of export controls by both countries amounts to supply chain warfare, interrupting the flow of key components that the other country must have to operate huge industries that employ large numbers of workers. Live Events Last week, Ford Motor temporarily closed a factory in Chicago that makes Ford Explorer sport utility vehicles after one of its suppliers ran out of the magnets. In most new cars, the magnets are used in dozens of electric motors that operate brake and steering systems, fuel injectors and even power seats. On Monday, China granted some export licenses for rare earth magnets to be shipped to the United States and Europe, according to two industry executives who spoke on the condition of anonymity to discuss a sensitive matter. But many more factories in both regions will have to close in the coming days and weeks if China does not resume full exports of rare earth metals, corporate executives and business leaders said. "Hundreds of EU companies are impacted, and we expect that this may lead to production stoppages already this week for some companies," said Jens Eskelund, the president of the European Union Chamber of Commerce in China. American companies are feeling the effect even more. Several companies in Europe, including Volkswagen, were granted permission by Beijing to continue procuring rare earth magnets soon after China began enforcing export controls on them in April. American companies have been juggling factory schedules, reassigning their dwindling magnet supplies to continue making their most profitable products. A Ford spokesperson confirmed that the Explorer factory had been closed last week because of a disruption in rare earth magnet supplies, but said that it had reopened this week. Ford had been planning to not run the factory for a week anyway in the coming months, and shifted that down time to last week when the magnet supply ran short, he said. The agreement reached in Geneva by U.S. and Chinese officials to de-escalate their confrontation over tariffs has been cheered by investors. The two sides said they would take a 90-day pause on tariffs and set up working groups of top officials to try to reach agreements on trade. That made the timing of the U.S. Commerce Department's decision a day later to ban Americans from using or financing Huawei artificial intelligence chips noteworthy. The department contended that the AI chips were based on a prohibited export of U.S. technology, which Huawei has denied. The restrictions were the latest in a long series of American blows aimed at Huawei, which is one of China's best-known success stories. Its hundreds of thousands of workers produce everything from cellphone base stations to autonomous driving systems for cars. Chinese officials have reacted with growing anger at the U.S. use of export controls. "China once again urges the U.S. to immediately correct its wrong practices, stop discriminatory restrictive measures against China, and jointly maintain the consensus reached at the Geneva high-level talks," He Yongqian, the Ministry of Commerce spokesperson, said at a news briefing Thursday. American restrictions on sales to COMAC, a state-owned enterprise, represent a setback to the Chinese government's long-term project to shed its dependence on Boeing and Airbus. The C919 aircraft is heavily dependent on American and European components, with the company's miles-long complex of hangars and design labs in Shanghai mainly installing components from foreign companies in Chinese-built air frames. COMAC did not respond to a phone call and fax for comment. In a reply to questions early Thursday, Kush Desai, a White House spokesperson, said, "The Geneva agreement was a major first step towards securing a final, comprehensive trade deal with China. Discussions continue, and the administration is monitoring compliance with the agreement." The United States has been gradually tightening export controls on semiconductors for a decade, contending that China has used American computer chip technology to improve a wide range of military hardware. Chinese government officials and industry executives have denied this, and contend that the United States is trying instead to limit China's economic development. Two days after Trump imposed steep tariffs on April 2 on imports from China and many other countries, China imposed its own export controls on some kinds of rare earths and heat-resistant magnets made from them. The Geneva trade agreement had also called for China to "adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025." But China's Commerce Ministry has contended that rare earths have military applications, and it has avoided describing its export controls as a trade countermeasure. Although most rare earth magnets are used in civilian industries, they are also essential for electric motors in advanced fighter jets and the guidance systems of intercontinental ballistic missiles. "It is a common international practice to impose export controls on items with obvious dual-use military and civilian attributes," He said Thursday. Experts in China have begun defending export controls on rare earth magnets as appropriate while the United States maintains export controls on semiconductors. "China sees export controls on rare earths as a counterstrike to U.S. export controls on semiconductors," said Zhu Ning, deputy dean at the Shanghai Advanced Institute of Finance. Yet if China maintains export controls on rare earths, many multinational companies may conclude that their supply chains are too reliant on China, Eskelund said. "The risk of production stoppages due to export controls will only increase calls in Europe for de-risking from China." The question now is how much longer both sides maintain their export controls. "It would be unfortunate if one or both sides overestimates its own leverage and feels like it needs to prove that to the other side," said Chris Adams, a former Treasury official who is now a partner at the Covington and Burling law firm.
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Business Standard
2 days ago
- Business
- Business Standard
Export controls are endangering the fragile US-China truce
After stepping back this month from an escalating and dangerous war of tariffs, the United States and China are now threatening to undermine their uneasy truce. On May 12, the countries announced after weekend meetings in Geneva that they would suspend most of their recently imposed tariffs. Since then, however, both governments have shown that they are still prepared to wield controls over critical exports as weapons against one another, with moves that are potentially even more damaging to trade and global supply chains. China has restricted its exports of rare earth magnets, which are crucial for cars, semiconductors, aircraft and many other applications. Close to 90 percent of the world's rare earth metals, including magnets, are produced in China. And the United States on May 13 banned the latest semiconductors from Huawei, a Chinese electronics giant. Then on Wednesday, President Trump suspended the shipment of American semiconductors and some aerospace equipment needed for China's commercial aircraft, the C919, a signature project in China's push toward economic self-reliance. The increasing use of export controls by both countries amounts to supply chain warfare, interrupting the flow of key components that the other country must have to operate huge industries that employ large numbers of workers. Last week, Ford Motor temporarily closed a factory in Chicago that makes Ford Explorer sport utility vehicles after one of its suppliers ran out of the magnets. In most new cars, the magnets are used in dozens of electric motors that operate brake and steering systems, fuel injectors and even power seats. On Monday, China granted some export licenses for rare earth magnets to be shipped to the United States and Europe, according to two industry executives who spoke on the condition of anonymity to discuss a sensitive matter. But many more factories in both regions will have to close in the coming days and weeks if China does not resume full exports of rare earth metals, corporate executives and business leaders said. 'Hundreds of EU companies are impacted, and we expect that this may lead to production stoppages already this week for some companies,' said Jens Eskelund, the president of the European Union Chamber of Commerce in China. American companies are feeling the effect even more. Several companies in Europe, including Volkswagen, were granted permission by Beijing to continue procuring rare earth magnets soon after China began enforcing export controls on them in April. American companies have been juggling factory schedules, reassigning their dwindling magnet supplies to continue making their most profitable products. A Ford spokesman confirmed that the Explorer factory had been closed last week because of a disruption in rare earth magnet supplies, but said that it had reopened this week. Ford had been planning to not run the factory for a week anyway in the coming months, and shifted that down time to last week when the magnet supply ran short, he said. The agreement reached in Geneva by US and Chinese officials to de-escalate their confrontation over tariffs has been cheered by investors. The two sides said they would take a 90-day pause on tariffs and set up working groups of top officials to try to reach agreements on trade. That made the timing of the US Commerce Department's decision a day later to ban Americans from using or financing Huawei artificial intelligence chips noteworthy. The department contended that the A.I. chips were based on a prohibited export of American technology, which Huawei has denied. The restrictions were the latest in a long series of American blows aimed at Huawei, which is one of China's best-known success stories. Its hundreds of thousands of workers produce everything from cellphone base stations to autonomous driving systems for cars. Chinese officials have reacted with growing anger at the US use of export controls. 'China once again urges the US to immediately correct its wrong practices, stop discriminatory restrictive measures against China, and jointly maintain the consensus reached at the Geneva high-level talks,' He Yongqian, the Ministry of Commerce spokeswoman, said at a news briefing on Thursday. American restrictions on sales to COMAC, a state-owned enterprise, represent a setback to the Chinese government's long-term project to shed its dependence on Boeing and Airbus. The C919 aircraft is heavily dependent on American and European components, with the company's miles-long complex of hangars and design labs in Shanghai mainly installing components from foreign companies in Chinese-built air frames. COMAC did not respond to a phone call and fax for comment. In a reply to questions early Thursday, Kush Desai, a White House spokesman said: 'The Geneva agreement was a major first step towards securing a final, comprehensive trade deal with China. Discussions continue, and the administration is monitoring compliance with the agreement.' The United States has been gradually tightening export controls on semiconductors for a decade, contending that China has used American computer chip technology to improve a wide range of military hardware. Chinese government officials and industry executives have denied this, and contend that the United States is trying instead to limit China's economic development. Two days after Trump imposed steep tariffs on April 2 on imports from China and many other countries, China imposed its own export controls on some kinds of rare earths and heat-resistant magnets made from them. The Geneva trade agreement had also called for China to 'adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.' But China's Commerce Ministry has contended that rare earths have military applications, and it has avoided describing its export controls as a trade countermeasure. Although most rare earth magnets are used in civilian industries, they are also essential for electric motors in advanced fighter jets and the guidance systems of intercontinental ballistic missiles. Experts in China have begun defending export controls on rare earth magnets as appropriate while the United States maintains export controls on semiconductors. 'China sees export controls on rare earths as a counterstrike to US export controls on semiconductors,' said Zhu Ning, deputy dean at the Shanghai Advanced Institute of Finance. Yet if China maintains export controls on rare earths, many multinational companies may conclude that their supply chains are too reliant on China, Eskelund said. 'The risk of production stoppages due to export controls will only increase calls in Europe for de-risking from China.' The question now is how much longer both sides maintain their export controls. 'It would be unfortunate if one or both sides overestimates its own leverage and feels like it needs to prove that to the other side,' said Chris Adams, a former Treasury official who is now a partner at the Covington and Burling law firm.
Yahoo
3 days ago
- General
- Yahoo
A walk in memory of Hampton woman killed by suspected drunk driver
HAMPTON, Va. (WAVY) — Days after 35-year-old Latonya Foster was killed by a suspected drunk driver in Hampton, the man who was an ear witness to the crime was emotional as he spoke on behalf of her parents. Hampton family mourns life taken by driver suspected of DUI 'It just doesn't make any sense; this is not fair,' said Johnathan Lynch. 'She was so beautiful; we're not just talking about the look of her. We're talking about who she was as a person.' Three months later, the tears continue to flow. April Smith said she was Foster's best friend. 'She was the most selfless person — always there for you, always a phone call away,' Smith said. 'She always showed up.' Foster's last phone call, a call with Lynch, took place during the early morning hours Feb. 22 as Foster took the Settlers Landing road exit on Interstate 64 East. According to police, Theresa Tann was driving her Ford Explorer up the ramp in the wrong direction. 'I heard a breath, and then I heard people knocking on the window, and I'm calling her name like 'Tonya, Tonya,' said Lynch in the interview earlier this year. Her loved ones shared pictures of the remains of Foster's Nissan after a head-on collision. The suspect was treated for rib injuries and was charged with DUI manslaughter. With memories of Foster close to their hearts, loved ones and supporters will gather at Buckroe Beach next Saturday for what they call a . 'For those who don't have nowhere to turn, for those who need therapy, help, whatever it is that you need, just coming together as a community,' Smith said. 'We just invite everybody to come out, take part, whether you knew her personally or simply just believing in a cause, we just hope to reflect on the sweetness you brought to the community, to people's lives.' The walk takes place two days before the suspect, Tann, is scheduled to face a judge. 'We need justice and my friend needs justice,' Smith said. 'And even her going to jail doesn't bring my friend back, doesn't bring the sister back, the aunt back. I feel that the more that we speak out on it, the more awareness that we raise.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
3 days ago
- General
- Yahoo
Police: Man who fled in stolen squad car is armed and dangerous
GRAND RAPIDS, Mich. (WOOD) — A man managed to escape Cassopolis police and get away in a squad car Wednesday, police say. It happened around 1 p.m. in Cassopolis, the Village of Cassopolis Police Department said in a release. Police were trying to arrest him but he was able to get away. He stole a marked police car and fled from the scene, police say. The vehicle is a 2020 Ford Explorer with Village of Cassopolis Police Department markings. He is described as a white man weighing about 200 pounds and standing at 5'4″. He is around 43 years old with blonde hair and blue eyes. Police say he is considered armed and dangerous. Law enforcement agencies across the region are helping in the active investigation. If anyone sees either the squad car or the suspect, call 911 immediately. Do not approach him, police say. 'Public safety is our top priority,' the release says. 'We ask residents to remain alert, report any suspicious activity, and allow enforcement to handle the situation with caution and care.' It said updates will be provided when more information is available. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
