Jim Farley was off to a flying start with this week’s results at Ford
It’s been a busy week for Q3 financial results and I am pleased to say that they were generally pretty positive. Cash positions look healthy after a bounce back in vehicle sales following the pandemic-induced lockdowns earlier in the year. Companies benefited in particular from higher sales of high-margin products in China and North America. Here’s a selection:
There were also a number of interesting strategic tie-ups this week. Daimler and Waymo said they would partner up on autonomous freight trucks.
In HCVs, Volvo AB and Isuzu
And in China, BMW said it will be working with Alibaba on its digital strategy
And get ready for speculation on who wants a big stake in LG Chem’s automotive powertrain battery business…
Daimler wants a slice of Aston Martin in return for sharing technology that hard pushed Aston can’t really afford to do on its own.
Yes folks, electrification is where it’s increasingly at. The auto industry is fast-a-changin’.
Electrified car sales overtake diesels in Europe (heath warning, electrified includes mild-hybrids)
Reading this made me a tad uneasy. Let us hope everything works as it should:
We’re not quite out of the pandemic though, are we? Every now and then there’s a stark reminder of the global scale of lost sales this year.
In case you hadn’t noticed, SAIC is targeting Europe with NEVs. It’s going to be very interesting to see how the transition to electrified vehicles plays out in Europe’s market and how it looks by 2025.
If ICEs and their components are your bag, it’s perhaps never too early to look at diversifying.
Finally, a reminder that in this business there really is no substitute for having good product. People can talk about clever brand and marketing strategies, but in the end it comes down to having the right product at the right price point. Could it possibly be that Opel/Vauxhall has something of a hit on its hands with the new Corsa?
Have a good weekend.