Lordstown Motors Says 2021 Production Will be Half of Expectations
Lordstown Motors Corp said on Monday that 2021 production of its Endurance truck will be half of prior expectations and that the electric vehicle startup needs additional capital to execute its plans, sending shares down 9.5% in after-hours trading.
"Capital may limit our ability to make as many vehicles as we would like," Chief Executive Steve Burns said on a conference call.
Burns said Endurance production this year will be limited and would be "at best 50%" of the company's prior expectations of 2,200 trucks. He said it was still on track for the September launch of the truck, with pre-production vehicle builds slated for July. Deliveries are scheduled to begin in the fourth quarter.
Read the article at Autoblog.
Ford Dazzles with 2022 F-150 Lightning!
By Mike Sheldrick, Senior Editor
Ford pulled off what will be remembered as one of 2020's biggest corporate PR coups with its "reveal" last week of the 2022 F-150 Lightning, available for actual sale and delivery next spring.
It was widely applauded in the business and automotive press, and Ford quickly racked up nearly 50,000 $100 deposits.
Presumably, these would be refundable, and in any case, they don't count for much on a vehicle whose base price will be just under $40,000 (or even $30,000 with state and federal rebates). Still, because the F-150 has been the nation's pickup leader for over 40 years, these deposits shouldn't be dismissed as insignificant.
What may be most impressive is that this base version, the F-150 Lightning Pro, is aimed squarely at business fleets. There is the price of course, which is only slightly more than a base ICE F-150, and as befits a work truck, the seats are vinyl but just as important, it looks like a pick-up truck.
NETS 2021 Strength IN Numbers Annual Road Safety Conference
October 19-21, 2021 -- Mark your calendar now for NETS 2021 virtual conference.
NETS conferences bring together Global, Corporate, Government, and Non-profit employers.
Conference participants include NETS member companies from diverse industries, representing a collective global fleet of more than half-a-million vehicles, ~80% passenger vehicles, that travel nearly 11 billion miles annually
Why should you participate in NETS Conferences?
Revealed! These 25 Vehicles Are IntelliChoice’s Best Value Award Winners for 2021
When you buy a new car, the price you pay over time isn't what's on the sticker.
Depreciation, maintenance, and other hidden costs help determine how much you'll truly spend once you leave the dealership. Now, after analyzing total ownership costs for nearly every vehicle on the market, IntelliChoice is announcing the winners of its 2021 Best Overall Value of the Year (BOVY) awards.
This year, Intellichoice examined the five-year ownership costs of nearly 2,400 vehicles, accounting not only for depreciation and maintenance but also for insurance, financing, fees, fuel, and repair costs.
Brendan P. Keegan Accepted into Newsweek Expert Forum
Merchants Fleet announced CEO Brendan P. Keegan has been accepted into Newsweek Expert Forum, an exclusive professional organization where speakers, authors and experts share strategic insights and analysis.
Keegan was hand-selected to join the community based on his proven expertise in the fleet industry. He is a regular contributor to Fast Company and Newsweek, and also publishes a widely followed LinkedIn blog.
“It’s an honor for me to participate in this forum, with my peers across numerous industries” said Brendan P. Keegan. “This experience will help shape the conversations Merchants has with our fleet partners around the world.”
Scott Gerber, founder of Newsweek Expert Forum, says, "We are honored to accept Brendan into the Newsweek Expert Forum. When experts gather in curated, private settings, they can share advice and build trusted relationships that further their mutual success. Brendan brings important insights about fleet technology to this community.”
