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18.09.26 - 20:13
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Auto Stocks Slide As VW Cuts Outlook, Industry Urges Trump To Keep BYD Cars Out (ZeroHedge)
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Auto Stocks Slide As VW Cuts Outlook, Industry Urges Trump To Keep BYD Cars Out
Earnings pressure and trade-policy uncertainty are weighing on auto stocks on Friday.
Volkswagen shares fell as much as 7.5% after the struggling European automaker lowered its operating-margin forecast, reflecting a write-down on its Porsche stake and weak Chinese demand.
Separately, US auto industry groups urged the Trump administration to maintain restrictions on Chinese vehicles, according to a Bloomberg report.
"Allowing them to open a domestic facility would provide a foothold in the US market at the expense of manufacturers operating here," the coalition wrote.
Signatories include the Alliance for Automotive Innovation, whose members include Ford, General Motors, Toyota and Volkswagen, alongside Autos Drive America, the American Automotive Policy Council and the National Automobile Dealers Association.
The letter to the White House, seen by Bloomberg, comes less than a week before President Trump m...
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18.09.26 - 13:24
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GM Delivers Patriot Missile Parts To Lockheed As Rearmament Supercycle Nears (ZeroHedge)
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GM Delivers Patriot Missile Parts To Lockheed As Rearmament Supercycle Nears
A congressional report recently found that the US has "probably used" one-half to two-thirds of its missile-defense interceptors during its Iran conflict so far, intensifying new concerns about readiness for another major conflict.
The US industrial response is already taking shape to ramp up missile and bomb production to replenish depleted stockpiles as the West enters the early innings of a massive rearmament supercycle.
A Wall Street Journal report said Thursday that General Motors has begun supplying components for Lockheed Martin's Patriot interceptors. This suggests that unused civilian production lines can be retooled for wartime, as they were during World War II, and shows why preserving the auto industrial base is critical in times like these.
Lockheed told the outlet that GM delivered its first batch of missile-housing components for PAC-3 MSE interceptors in August. The automaker produced the parts in thr...
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