Ford will announce this week plans to trim 10 percent of its worldwide work force, mostly likely white collar jobs, according to a report in the Wall Street Journal. The automaker has been pressured by its board and shareholders of late to answer lower first quarter profits as sales cool at the Blue Oval and for other automakers. Ford said reducing costs and becoming as lean and efficient as possible remain a part of its work, but added it does not “comment on speculation.”
It is time to change the way government’s measures pollution from diesel powered vehicles because they are emitting more than 50 percent higher levels of pollution than indicated in tests. A new study was published in the journal Nature on Monday. Researchers estimated that that globally soot and smog caused 38,000 deaths in 2015 after measuring tailpipes in 10 countries and the European Union. They did not accuse any auto makers of cheating, but said government tests do not reflect real world conditions.
An analyst at Morgan Stanley has cut the buy rating on Tesla shares predicting the company will burn through more cash than expected due to increased competition in the areas of ride sharing and technology. He cited, among other things, Apple’s plan to begin testing autonomous cars in California. In pre-market trading this morning, Tesla shares were down $8.93 or 2.75 percent.
Automotive News reports Volvo will team with Google to develop an Android-based infotainment system. Volvo predicts you will see it in their cars within two years.