Ford Pauses $3.5 Billion Michigan EV Battery Plant Due to Rising Costs and Supply Chain Issues

Ford pauses plans for $3.5 billion EV battery plant in Michigan
Citing rising costs and supply chain issues, Ford says it will delay the plant for at least a year
Move highlights uncertainty around EV adoption and infrastructure needs
Auto experts say pausing major investments is prudent given economic volatility
Decision does not change Ford's commitment to transitioning to EVs over time

komonews.com

Relevant topic timeline:

8/22/2023

The Used Car Market Won't Be Normal Again For Years - The Autopian

The used car market is experiencing disruptions and a shortage of supply, leading to higher prices and a decrease in availability, with long-term issues expected to persist for at least the next two years.

8/22/2023

Car buyers feeling the pinch of higher prices, payments

American car buyers are facing increasing challenges in purchasing new vehicles due to inflation and rising interest rates, with the average monthly new car payment reaching around $750, creating potential financial strain for many buyers, especially those in subprime categories, and the resumption of student loan payments may further exacerbate the situation, impacting carmakers and potentially leading to price adjustments in the market.

8/26/2023

A year after a tight market, new and used vehicle sales have turned a corner in Southeast Minnesota

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8/27/2023

The Car Market Just Flipped — 10 Massive Price Drops

The auto market has seen a significant decline in average new vehicle prices, with a drop of $3,243 from January to July, marking the first notable decline in car prices in years.

9/3/2023

Carvana, CarMax should be in the driver's seat as used car shortages persist (NYSE:CVNA)

Used car sales and prices have surged during the pandemic due to supply chain disruptions, leading to a shortage of new and used cars, causing prices to remain elevated and creating a favorable market for the automotive industry.

9/4/2023

The Car Market Just Flipped — But the Prices of These 9 Vehicles Remain High

Car buyers are finding some relief in the US market, as prices for new vehicles have dropped by up to 20% thanks to an increase in unwanted EVs, although certain vehicles remain expensive.

9/20/2023

Ongoing Auto Worker Strike Threatens New Car Inventory, Worrying Dealers

The ongoing UAW strike has dealerships concerned about their inventory and potential shortages, adding to the challenges of the pandemic and supply-chain issues in the auto market.

9/25/2023

New Car Prices Drop as Inventories Rise and Automakers Offer Discounts

Car prices are cooling and dealers are offering cash incentives as new vehicle inventory increases, leading to a drop in transaction prices and projections of further price decreases.

10/3/2023

GM Leads U.S. Auto Sales Gains in Q3, Though Strike and Rates Loom

Top global automakers, including General Motors and Toyota, reported a rise in U.S. new vehicle sales for the third quarter, driven by strong demand for the latest models and improved supply, despite ongoing concerns over supply disruptions caused by the United Auto Workers strike.

10/10/2023

U.S. Wholesale Inventories Fall for Sixth Straight Month in August

Wholesale inventories in the U.S. have continued to decline for six straight months, matching expectations, as the motor vehicle industry shows slight improvement and sales at wholesalers rise.