Automakers across multiple companies showed mixed results in their first quarter earnings reports with GM reporting sales down 1.5 percent during the first quarter of the year, and Ford signaling its pickup trucks and hybrids helped in a 6.8% jump in U.S. sales for the first quarter.
In March around 14,00 Ford factory workers in Michigan working on the automaker's electric version of its popular F-150 truck faced moving to new jobs or accepting retirements packages amid what was called weak sales. The truck, which asks a starting price of nearly $50,000 was sitting on dealer lots as concerning inventory reports flowed in. Just a third of about 2,100 workers at three electric vehicles plants would remain after cuts in jobs by the company, the Associated Press reported.
The CEO for automaker Stellantis expressed concern that China's auto industry would make a negative impact with EV models. Carlos Tavares called it an"offensive" and told reporters it is"possibly the biggest risk that companies like Tesla and ourselves are facing right now."