Short Torque

Ford's outlook for its 2nd quarter improves

Ford's second-quarter outlook is improving, with large numbers of customers making reservations for four of its new vehicles. Ford now anticipates its adjusted earnings before interest and taxes for April through June to top its expectations and be significantly better than the period last year. Although there's still uncertainty around semiconductor supply, Ford is seeing improvement in its automotive business due to lower-than-expected costs and favorable market factors. It's also being helped by increased vehicle auction values.

Auto show back in Detroit next year

The head of Detroit's big international auto show says it will return to the Motor City next year, but with smaller indoor displays, and more emphasis on experiencing vehicles and technology outside. The North American International Auto Show was canceled last year due the coronavirus pandemic. It will be replaced this year by an event at a racetrack north of Detroit. But Rod Alberts, executive director of the Detroit Auto Dealers Association, which runs the show, says that next year there will be an event in the city's downtown.

GM hits the gas on tech investment

General Motors is hitting the accelerator on its drive toward electric autos, significantly boosting its near-term investments as it unveils new models and builds production capacity. The biggest US automaker announced it will raise spending by 30 percent to $35 billion through 2025 and plans to build two additional battery cell plants. Some of the funds also will go to its autonomous vehicle program.

UK in talks on EV battery plant

Britain is in talks with six companies to build gigafactories, which can produce electric vehicle batteries, the Financial Times reported last week, citing people briefed on the discussions. Ford, Nissan, LG Corp, Samsung and startups Britishvolt and InoBat Auto are in talks with the British government and local authorities about locations for potential factories and financial support, according to the report. The British government's plan to prohibit the sale of new petrol and diesel cars by 2030 and hybrids by 2035 will require the country's vehicle plants to shift to producing electric models.

Manufacturing on rise in United States

Production in American industry continues to recover, rising 0.8 percent in May as auto factories rebound despite continued disruptions from the semiconductor shortage, the Federal Reserve said last week. The Fed's industrial production index is up 16.3 percent compared to the same month of 2020 when the COVID-19 pandemic caused shutdowns across much of the economy, but its recovery has been bumpy. Manufacturing gained 0.9 percent in the month and is up 18.3 percent over the past year, pushed by a 6.7 percent rise in motor vehicles and parts, according to the Fed data.

Waymo gets $2.5b to fuel ambitions

Waymo, the self-driving car pioneer spun off from Google, isn't allowing a recent wave of executive departures to detour its plans to expand its robotic taxi service. The Mountain View, California, company made that clear last week by announcing it has raised another $2.5 billion from a group of investors ranging from venture capital firms such as Andreessen Horowitz to a major car dealer, Auto-Nation.

Agencies - Motoring