Is the import fees that is keeping VWAGY up? Buyers Rush In Car buyers have been rushing to US showrooms to lock in deals before potential price hikes from the levies. That drove March sales to an annual rate of about 17.8 million vehicles, the most since April 2021, according to JP Morgan analyst Ryan Brinkman. But as that supply runs out, automakers are bracing for significant potential cost increases and supply-chain turmoil. Auto executives continue to lobby the administration to limit the fallout, with Ford, GM and Stellantis focusing their efforts on excluding certain low-cost car components from the tariffs. On Thursday, timed with the new tariffs, Ford said it was rolling out discounts on nearly its entire lineup as a way to keep car buyers coming into its showrooms. Ford’s “From America, For America” discount program, which runs through June 2 and offers an employee-pricing-for-everyone deal, is reminiscent of the “Keep America Rolling” 0% financing promotion GM offered after the terrorist attacks of September 11, 2001, which jump-started US auto sales in a bleak economy. Industry executives have said that they support Trump’s goal of building more vehicles in the US and expanding the country’s manufacturing base. But moving auto assembly plants will likely take years, and may never happen for cash-strapped parts suppliers. Stellantis, which owns brands including Ram and Chrysler, said it will pause production at its Windsor, Ontario, plant for two weeks beginning Monday, citing uncertainty around tariffs. The company will also temporarily halt work in Mexico, moves that will also affect employees at several US powertrain and stamping facilities. “With the new automotive sector tariffs now in effect, it will take our collective resilience and discipline to push through this challenging time,” Antonio Filosa, chief operating officer for the Americas, said in a memo to employees. “We are continuing to assess the medium- and long-term effects of these tariffs on our operations, but also have decided to take some immediate actions.” Mercedes-Benz Group AG production chief Jörg Burzer said Thursday the carmaker is considering making more vehicles in the US in response to the tariffs. The company is also weighing whether to pull its least expensive cars such as the GLA small SUV from the US market, because the tariffs would make those vehicles economically unfeasible, Bloomberg has reported. “We’re still assessing the impacts of these tariffs,” Burzer said on the sidelines of a company event in Stuttgart, Germany. “We have made some plans, but flexibility is absolutely key.” Volvo Car AB Chief Executive Officer Håkan Samuelsson also pledged to increase the number of cars it builds in the US and move another model to its South Carolina factory. The Swedish carmaker “will have to look closely” at which model it will add to production lines, he said in an interview Thursday. Meanwhile, Volkswagen AG sent a memo to its US dealers warning them that it plans to add import fees to the sticker prices of its vehicles shipped into the US.
February 16, 2024 Volkswagen’s Scout Motors company broke ground on its $2 billion South Carolina assembly plant. Scout Motors’ new assembly is located in Blythewood, South Carolina. The $2 billion assembly plant spans 1,600 acres. Scout Motors estimated its South Carolina plan could generate 4,000 jobs in the area. Scout Motors will be spearheading Volkswagen’s entry into the United States’ electric vehicle pickup truck. Scout Motors will produce next-generation all-electric pickup trucks and rugged SUVs at its new plant. The South Carolina plant is expected to produce over 200,000 vehicles per year. Production is scheduled to start at the end of 2026. In December 2023, Scout President and CEO Scott Keogh shared that Scout Motors might debut its $40,000 SUV mule this year during the third quarter. At the time, Keogh commented that the company was very close to finishing the product’s design. “What we’re doing here is relaunching an American icon and we’re doing it here in South Carolina, and we couldn’t be prouder of doing it here in this beloved place,” commented Keogh to WLTX. Volkswagen’s Scout Motors was reportedly planning to invest in Detroit last year. The company is allegedly considering a $11 million investment in Detroit for a new Research and Development (R&D) Center. Scout Motors R&D Center was expected to create 200 jobs in the area.
Best Idea is FAST. I think when the dust settles VWAGY is well placed. What happened to Lumber Liquidators did they go private?
Copper prices slide on Trump’s reciprocal tariffs; Freeport-McMoRan sinks 7% Don't ask me. Looking at upcoming earnings though.. the gold mining stocks really haven't kept up with the price surge. I have to do some heavy chores now but I would like to get into later who reports when and which names are best positioned to have super blowout qtrs which they are assured to have... Which are the best Gold mining ideas******
Say this to your wife when she asks what you ant for lunch. Handelsbanken gets more bullish on Hiab Oyj
Ball most impacted from expansion of aluminum tariffs, says Morgan Stanley » 09:28 BALL, Worthington price target raised by $5 at Seaport Research, » 09:24 WOR American Battery doubles quarterly production at battery recycling facility » 09:23 ABAT Worthington enterprises targets 30% gross margin with strategic initiatives Wed, Mar. 261 Comment Worthington surges to nine-month high after quarterly beat, positive tariff comments SA NewsWed, Mar. 26 Company Profile Worthington Enterprises, Inc. operates as an industrial manufacturing company. It operates through two segments, Consumer Products and Building Products. The Consumer Products segment provides products in the tools, outdoor living, and celebrations end markets. The segment’s products include hand-held torches, micro torches, lighters, accessories, and fuel for constructing, fixing making, and creating; precision and specialty hand, digital, and safety tools; drywall tools and accessories used for finishing and taping, cutting, siding, and roofing; propane-filled cylinders for torches, camping stoves and other applications, helium-filled balloon kits, and gas grills and pizza ovens. This segment sells its products primarily to mass merchandisers, retailers, and distributors under the Balloon Time, Bernzomatic, Coleman, Garden-Weasel, General, Halo, Hawkeye, Level5, Mag-Torch, Pactool International, and Worthington Pro Grade brands. The Building Products segment provides pressurized containment solutions, such as refrigerant gas cylinders used in holding refrigerant gases for commercial, residential, and automotive air conditioning, and refrigeration systems; liquefied petroleum gas cylinders that holds fuel for residential and light commercial heating systems, barbeque grills and recreational vehicle equipment, industrial forklifts, and commercial/residential cooking; well water and expansion tanks used primarily in the residential and commercial markets; specialty products, including various fire suppression tanks, chemical tanks, and foam and adhesive tanks; and ceiling suspension systems. The company was formerly known as Worthington Industries, Inc. Worthington Enterprises, Inc. was founded in 1955 and is headquartered in Columbus, Ohio.