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0.000417014178482134 0.000417014178482134 -0.000834028356964119 -0.000417014178481985 -0.0012510425354461 -0.0112593828190158 -0.00875729774812347 -0.00750625521267722
Stock impact report

Ford's $19.5 billion EV writedown signals tough road ahead for legacy carmakers [Yahoo! Finance]

Stellantis N.V. Common Shares (STLA) 
Company Research Source: Yahoo! Finance
automakers as they navigate ?waning demand and a changed regulatory backdrop, analysts said on Tuesday. The writedown ?was seen as the most visible sign to date of the auto industry's pullback from a technology carmakers ?wholeheartedly embraced early this decade, exacerbated by President Donald Trump's cancellation of electric-vehicle tax breaks. Ford Motor's shares rose 1.3% before the bell on Tuesday following the announcement. Tesla edged 0.6% lower and General Motors was flat. U.S.-listed shares of Stellantis were up about 1%. Washington's action ?has deepened the decline in ?sales, forcing the Detroit Three automakers - Ford, GM and Chrysler-parent Stellantis - to roll back their ambitious EV plans in the U.S. and ?pivot back to their hybrids and gasoline-powered vehicles. "Ford's strategic reset is a clear acknowledgement of shifting market realities and consumer demand," Morgan Stanley analysts said. The charges are a "painful reset for the company" ?but one that is Show less Read more
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