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As we entered the time of 2020, Fiat Chrysler Automobiles (NYSE: FCAU), General Motors (NYSE: GM) and Ford Motor Company (NYSE: F) are stepping up their game in the truck and SUV segment. While we are still far from overcoming the COVID-19 pandemic, automakers are expanding their capital expenditure in the electric vehicle segment.
Fiat Chrysler Cars
Fiat Chrysler reported a loss of $1.24 billion in the quarter, 232 percent less than last year’s result. But his Stellantis bankruptcy is about to replace his circumstances. After its merger with Peugeot’s PSA Group (OTC: PUGOY), it will reorganize its Warren Truck plant, just outside Detroit, to build the new Jeep Wagoneer and Grand Wagoneer. Once completed, you will load a new product into your Jeep line: a three-row SUV capable of going where there are no roads. FCA is confident that it can meet the challenge posed through Ford’s new Broncos line.
But Ford’s new offer doesn’t have a three-row vehicle. And after the merger, FCAU is ready to be the fourth largest automaker in the world.
Ford
Ford Bronco’s reboot was unveiled last month, after allegedly receiving 100,000 reservations for the two new models. In addition, there is the redesigned Ford F-150 that was postponed to the fourth quarter. Ford’s CFO, Tim Stone, reported expected earnings for the third quarter of between $500 million and $1.5 billion. However, he also warned that the releases of the redesigned F-150, Bronco Sport and Mustang Mach-E would put the company in red numbers in the fourth quarter.
But the bottom line is that Ford is about to be in a much larger position by 2021, as several new products will be sold. In addition, Ford recently made an unforeseen benefit of $1.1. billions by its quarter at the moment. But this was due to a one-time gain of $3.5 billion on its investment in Argo AI autonomous driving software, recorded in its currency position as a “special element” because otherwise Ford would have recorded a loss as in the first. Quarter.Array Its higher-than-expected effects were attributed to effective operational functionality that involved a safe restart of its plants while reducing costs, while its efforts were complemented by a favorable value environment.
General engines
General Motors also announced that it would increase the production of full-size pickup trucks through 1,000 games consistent with the month at its plant in Fort Wayne, Indiana, by expanding its workforce. According to its leading monetary officer, Dhivya Suryadevara, GM is at the end of a radical replacement in its truck portfolio. Downtime in the last 3 years is GM, as it will be your new bright spot. But the giant also let its first-quarter profit begin after falling to a loss of $800 million in the quarter and burning $7.8 billion in cash.
Trucks in the era of renewable energy
In general, homeowners and van enthusiasts can enjoy many advances. In addition, there are many new products to take a look at, such as the diversity of luggage cases in The Worksport’s solar-powered vans. Worksport (OTC: WKSP) and its 3 new soft luggage cases will be presented in the United States in the near future. The Ford F-150 is the best-selling truck in the United States for more than 4 decades. But given those advances, this may no longer be the case.
This article is not a press release and was written through a verified independent journalist for IAMNewswire. It deserves not to be interpreted as investment advice. Please read the full information. IAM Newswire has no position in the above corporations. Press Releases: If you are looking for a full distribution of press releases, please contact: [email protected] Contributors: IAM Newswire accepts presentations. If you want an IAM journalist, contact [email protected]
Post-Detroit automakers are stepping up their trucking game first made their impression on IAM Newswire.
Photo through Jeremy Chen in Unsplash
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