Auto News for May 12 – Ford’s Annual Meeting


 In essence, Ford’s leaders defended the company’s investments in electric vehicles, self-driving cars and mobility, while shareholders said they were not happy with current stock prices. Ford’s investments are geared, officials said, to future pay offs while many Wall Streeter’s focus more on quicker results to beef up the bottom line. At the automaker’s annual meeting held in audio only format, Chairman Bill Ford Jr., said the company is making investments “both for today and for tomorrow.” In pre-market action this morning, Ford shares were down but only by three cents.

 Peugeot’s shareholders have approved the procedures to be used to acquire GM’s Opel and Vauxhall brands. The $2.3 billion deal was announced in March and the two automakers hope to close the deal by the end of the year.

 Valvoline has dedicated its $35 million, 162,400 square foot world headquarters in Lexington, Kentucky with a “vision” of creating the “world’s leading engine and automotive maintenance business.”

The best deals in new vehicles these days are for the Hyundai Sonata, and Nissan Rogue. Kelly Blue Book said the Sonata was the best Cash Back, Financing Deal while the Rogue carries the best Lease Deal.

 Sold on the first day offered. That’s what happened when a Fiat 124 Spider Prime Edizione Lusso with Vin NO. 1 was offered on Gilt.Com. The purchase price was $31,500. The first 124 units of the 124 Spider are available only on a limited production basis.



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