Ford Motor Co is replacing Chief Executive Officer Mark Fields with James Hackett, the head of the unit developing self-driving cars, the U.S. automaker said on Monday, responding to investors' growing unease over its stock price and prospects.
A group of Tesla Inc investors has urged the luxury electric car maker to add two new independent directors to its board, without ties to Chief Executive Elon Musk, to "provide a critical check on possible dysfunctional group dynamics."
U.S. President Donald Trump on Tuesday touted an expected announcement from Ford Motor Co about investments and jobs at U.S. plants, saying the automaker would make a major investment in three Michigan facilities.
U.S. President-elect Donald Trump has threatened Toyota Motor Corp over its Mexican-built cars, but the biggest risk from a punitive tariff would be for its compatriot Nissan Motor Co, the largest automaker operating in the country.
Major automakers in the U.S. market are expected to show robust December auto sales on Wednesday, perhaps high enough for 2016 results to break the record high set the previous year, according to a poll by Thomson Reuters.
Hefty consumer discounts during a robust Black Friday weekend helped boost November U.S. auto sales between 4 % and 5 %, which could catapult results this year above a record high in 2015, economists and industry analysts said.