Page 37 - NOVEMBER 2017 'A' ISSUE

November 2017 – No. 21 • UK & Europe Edition
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DETROIT, MICHIGAN – Wall
Street may love the shares of Silicon
Valley electric carmaker Tesla Inc, but
Americans love big, fuel-thirsty trucks
like Ford Motor Co’s bestselling F-Series
pickups and are paying ever higher
prices to buy them.
The auto industry is at a crossroads,
with the future of legacy automakers
like Ford, General Motors Co and Fiat
Chrysler Automobiles NV uncertain
as governments float proposals to ban
internal combustion engines over the
next two decades.
But in the present, consumer
enthusiasm for trucks and sport utility
vehicles is strong, especially in the
United States. And that is providing
Ford, GM and other established
automakers with billions in cash to
mount a challenge to Tesla.
Tesla has ambitions to boost annual
sales to 500,000 vehicles a year. But it
is wrestling with the sort of production
problems that old-line automakers
have largely put behind them, and has
reported a net loss of $666.7 million
through the first six months of 2017.
Analysts expect the company to post a
third quarter net loss of $380.4 million
when it reports results next Wednesday.
Electric cars are money losers, which
explains why global automakers have
been slow to roll them out until now.
But regulatory and consumer pressures
are forcing established automakers to
put more electric vehicles in their fleets
over the next several years. In a cash-
intensive industry, profits from pickups
and SUVs may give them a competitive
edge.
Some graves in provinces
flooded due to heavy rains
SOME families were unable to visit
the tombs of their departed loved ones
as cemeteries in the provinces were
flooded due to the inclement weather.
According to a report on Unang
Balita by Jay Sabale on Wednesday,
some graves in Guinobatan, Albay were
submerged in floodwater but residents
continued clearing the cemetery.
Floods caused by heavy rains in
Koronadal City, South Cotabato also
swamped some tombs and even the
entrance of a cemetery.
Despite heavy rains, some Filipinos
hurriedly cleaned up the graves of
their departed loved ones before the
observance of All Saints’ Day (Undas).
Meanwhile, a cemetery in Tagbilaran
City, Bohol had only a few visitors due
to the bad weather.
A family also had difficulty locating
the tomb of their loved ones as it was
covered by garbage.
Ford said on Thursday that the
average price of one of its F-series
pickups rose $2,800 to an average
$45,400 a truck in the third quarter.
Sales of F-series trucks, which range
from spartan work trucks to Platinum
models with the features – and price
tags – of a European luxury sedan,
were up nearly 11 percent to 658,636
vehicles for the first nine months of this
year.
GM has driven its share price up
nearly 30 percent so far in 2017 as
Chief Executive Mary Barra has talked
up plans for putting self-driving, electric
Chevrolet Bolts into ride services fleets
within a few quarters.
Barra told investors on Tuesday
improved profit margins on trucks were
“one of the big drivers of the overall 8.3
percent margins” in the automaker’s
North American business during the
latest quarter.
GM has forecast free cash flow for
On the other hand, burial in a public
cemetery in Zamboanga City was no
longer allowed due to lack of space.
State weather bureau PAGASA on
Wednesday said Tropical Depression
Ramil is forecast to bring rainfall in
several areas as it was seen located 115
kilometers west of Roxas City, Capiz as
of 4 a.m.
Tropical Cyclone Warning Signal
No. 1 has been raised over Northern
Palawan including Calamian Group of
Islands, Aklan and Antique. n Marlly Rome
Bondoc, KG, GMA News | Published November 1,
2017 8:49 AM
NEWS
A finished Ford F150 pickup leaves the
final inspection station at Ford’s Kansas
City Assembly Plant where new aluminum
intensive Ford F-Series pickups are built in and hybrid models. Ford’s new Chief
Claycomo, Missouri May 5, 2015. Dave Kaup
the full year of roughly $6 billion. That
is $1 billion less than forecast earlier
this year, but strong enough to fund the
company’s promise to develop 20 more
electric vehicles by 2023 and send $7
billion back to shareholders.
GM, which emerged from a
government funded bankruptcy eight
years ago, now has $31.4 billion in
available funds, including $17.3 billion
in cash.
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Ford lags behind GM in sales
of battery electric models, but the
company has said it will spend $5
billion developing battery electric
Executive Officer Jim Hackett has said
the plans include shifting $500 million
into electric vehicle development from
internal combustion projects.
Ford’s share price has been flat for
the year as the No. 2 U.S. automaker
ushered out former CEO Mark Fields.
Still, it had $28 billion in cash and
marketable securities as of Sept. 30.
Automakers also are becoming more
confident they can make money on
electric cars as battery costs come down.
Volkswagen AG’s Audi brand is
gearing up a fleet of electric models
that the company expects will account
for 25 percent of sales by 2025. In the
United States, Audi plans to launch an
electric SUV “in the sweet spot of the
market” in 2019, Scott Keogh, head of
Audi’s U.S. operations, told Reuters on
Thursday.
Sales of Audi’s current lineup of
SUVs “pay for what we want to do,
WEBSITE TO BE UPDATED SOON
37
which is lead the future,” Keogh said.
Renault SA Chief Executive Carlos
Ghosn expressed confidence earlier
this month that electric cars will
become “a significant contributor to our
performance.”
Tesla, by comparison to its legacy
rivals, is market value rich, and cash
poor. It had $3 billion in cash on hand
at the end of the second quarter, and
some analysts predict the automaker
will have to raise more to cover the
expected cash drain from the slow
launch of the Model 3, which is lower
priced than other Teslas and aimed at
the market for $35,000 to $45,000 cars.
Tesla Chief Executive Elon Musk
has outlined ambitious plans to expand
its network of factories and service
facilities, including potentially an
assembly plant in China and up to three
more electric battery Gigafactories. He
told investors in July the company could
sell more shares to fund that expansion.
“I‘m sure there will be some funding
rounds that happen in the future,” he
said. n Paul Lienert, Joseph White | October
27, 2017, 7:05 PM
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