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Ford, Volvo, Google, Uber and Lyft form self-driving alliance

Five companies arguably leading the worldwide effort to develop autonomous cars said Tuesday they're forming an organization to lobby the federal government to better prepare America's roads for self-driving technology. The founding members include some of the biggest companies in the automotive, autonomous, and ride-sharing realms – Ford, Google, Lyft, Uber and Volvo. Operating as the "Self-Driving Coalition for Safer Streets," they aim to work with lawmakers and regulators to clarify a disparate set of rules and regulations at both the state and federal levels that could hinder the deployment of autonomous cars. "The U.S. risks losing its leading position due to the lack of federal guidelines for the testing and certification of autonomous vehicles." – Hakan Samuelsson David Strickland, a former administrator of the National Highway Traffic Safety Administration who issued the first set of autonomous-related policies in that role (pictured below), will serve as the group's counsel and spokesperson. "The best path for this innovation is to have one clear set of federal standards, and the Coalition will work with policymakers to find the right solutions that will facilitate the deployment of self-driving vehicles," he said in a written statement. In January, Transportation Secretary Anthony Foxx said his department would accelerate efforts to craft such federal standards. Those efforts include holding two public hearings on standards, the second of which is scheduled to be held Wednesday in Palo Alto, California. Foxx signaled the intent to deliver them by June. Google has been leading the efforts to ensure such standards are national in scope, warning their cars could run afoul of state-specific laws should they cross state borders or if standards varies between the federal efforts and regional ones. The complexity of such efforts was underscored recently, when NHTSA agreed that Google's software could be considered the driver of a vehicle for the purpose of meeting federal motor vehicle standards, an interpretation that would conflict with preliminary California rules that mandate a licensed driver operate a self-driving car that comes equipped with human controls like a steering wheel and brakes. At South By Southwest last month, Jennifer Haroon, Google's self-driving car business leader, said the company couldn't accomplish its goals under those regulations.

2022 Lincoln Navigator buyers can get $5,000 to convert to the 2023 model

Ford Motor Company is doling out more money to try to keep its chickens in the coop. Last August, when the automaker couldn't fulfill every order for the 2022 F-150 Lightning electric pickup then levied price substantial price increases on the 2023 F-150 Lightning, the automaker created a "Transition Private Offer." The program gave 2022 reservation holders without trucks a rebate to buy a 2023 Lightning that effectively nullified the price increase. Earlier this month, Ford did it again with the 2023 Bronco. The "2023-Model Bronco Cancel Order & Purchase Replacement Offer" dangled $2,500 to 2023 Bronco buyers without SUVs to either change their Bronco order to a configuration that could be built sooner, or cancel their order and buy another Ford. Now it's Lincoln's turn. CarsDirect says another dealer bulletin outlines a "2023-Model Navigator Connect Model Year Transition Private Offer" for those who didn't get their 2022 Navigator built. "Select customers" who close a deal before April 2, 2023, can get $5,000 off the price of a 2023 Navigator or have the money applied to a 2023 Navigator lease. Akin to the Lightning offer, the Navigator incentive nearly eats up all of the price increases on the new Navigator. The latest version of Ford's most luxurious SUV had MSRPs bumped from about $5,000 for the middle trims to $6,475 for the Black Labels. At the entry-level end, a customer might have some money left over for more options like the brand new Diamond Red Tricoat paint on a 2023 model, depending on how Ford conducts the offer. The base Navigator trims went up by $3,215 for the Standard and $4,730 for the Reserve. If a 2022 Black Label buyer were to take Ford up on the offer, that buyer would be paying $1,475 for the same vehicle; the changes applied to the 2023 Navigator other than price didn't make it to the Black Label.  The folks out in the cold are the few 2022 Navigator L buyers. Lincoln discontinued that trim for 2023, so those folks will need to make another choice or find another roost. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Buy Ford and GM stock and make 5%

Want to make a five-percent return when 10-year treasuries are paying around two percent? Ford (F) and General Motors (GM) have solid balance sheets, strong cash flow, solid earnings, and growing markets. By all accounts, they are smart investments. But the market is down on these stocks. Why? Some of the stupid excuses include: They are cyclical companies The Detroit 3 have lost 3.5 million in sales since 2000 The world economy is shaky GM recently filed for bankruptcy Their markets have peaked They haven't changed their ways Let's take these criticisms one by one: They Are Cyclical Companies Yes, they are cyclical. Every company is cyclical. Every industry is cyclical. Some more than others, but not every company is immune from swings in the market. Banks used to be 'non-cyclical' leader, not anymore. Airline stocks are just as cyclical as auto stocks, yet they are trading at multiples greater than the auto industry. Why? And what accounts for the irrational stock price for Tesla (TSLA)? At least Ford (F) and General Motors (GM) make money and have positive cash flows. In fact, both companies have a net positive cash position. They have more cash on hand than liabilities. Auto sales in the United States hit a record 17.5 million vehicles in 2015. During the Great Recession, Ford (F) and General Motors (GM) cut their break even points to 10 million vehicles per year. Anything above an annual U.S. volume of 10 million vehicles is profit. And what a profit they make. Sales of Ford's F-150 continues to be the best-selling vehicle in the United States for over 30 years. Detroit 3 Have Lost 3.5 million in Sales Since 2000 Automotive News reports General Motors (GM), Ford (F) and Chrysler (FCA) have lost a combined 3.5 million vehicles sales since 2000. So how can they be making more money? Two big reasons – Fleet Sales and the UAW. Fleet Sales The Detroit 3 used to own car rental companies to keep their factories running. Ford owned Hertz (HTZ), General Motors owned all of National Car Rental and 29 percent of Avis, and Chrysler, the forerunner to Fiat Chrysler (FCA), used to own Thrifty Car Rental and Dollar Rent-A-Car. The Detroit 3 owned these rental companies to have a place to sell their bad product and keep their factories running. These were low margin sales, and in many cases, were money losers for the Detroit 3. They no longer own auto rental companies.