Ted Cannis, chief executive officer of Ford Pro, speaks during an interview in New York, on Thursday, July 28, 2022. Victor J. Blue | Bloomberg | Getty Images DETROIT — The head of Ford Motor‘s highly profitable “Pro” commercial and fleet business will retire at the end of this month, the company said Thursday. The … Read more
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Auction sales during Monterey Car Week fell 3% from last year, as a shift from older to newer cars left a pileup of … Read more
2023 Ford Super Duty F-350 Limited Ford DETROIT — A once “dirty” word, and business, in the automotive industry has become a multibillion-dollar battleground for U.S. automakers, led by Ford Motor. The Dearborn, Michigan-based automaker has turned its fleet business, which includes sales to commercial, government and rental customers, into an earnings powerhouse. And Ford’s … Read more
In the world of luxury, Hermès is arguably the gold standard. Its sales are growing double digits even as other luxury companies post declines or dramatically slower growth. Wealthy customers lucky enough to be anointed as Birkin-bag worthy can purchase a Birkin 25 for about $11,000 and flip it the same day for more than $23,000. … Read more
Ferrari’s all-electric model won’t be launched for over a year, but early tests prove it has all the driving traits and emotion of a true Ferrari, according to Ferrari CEO Benedetto Vigna. “The final judge will be the client,” Vigna told CNBC during the opening of the company’s new E-Building in Maranello, Italy. “More people … Read more
A Ferrari is parked outside the New York Stock Exchange in celebration of Ferrari’s initial public offering in New York City on Oct. 21, 2015. Andrew Burton | Getty Images Ferrari CEO Benedetto Vigna promised on Tuesday that the luxury carmaker’s new electric vehicle will offer drivers the same roar as its historic combustion engines. … Read more
Ford Motor Co., CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13, 2023. Rebecca Cook | Reuters DETROIT â Ford Motor CEO Jim Farley on Thursday urged … Read more
Lewis Hamilton of Great Britain and Mercedes looks on at the Mercedes GP Team Photo during previews ahead of the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on November 23, 2023 in Abu Dhabi, United Arab Emirates. Clive Rose | Getty Images Sport | Getty Images Former Formula One drivers believe Lewis … Read more
Car key for the Ferrari Purasangue SUV Adam Jeffery | CNBC Ferrari topped Wall Street’s top- and bottom-line earnings expectations for the fourth quarter to finish off a record year of profits for the luxury sports car manufacturer. The automaker reported a net profit of 1.26 billion euros ($1.36 billion) for 2023, including 294 million … Read more
Lewis Hamilton of Mercedes ahead of the Formula 1 Abu Dhabi Grand Prix at Yas Marina Circuit in Abu Dhabi, United Arab Emirates on November 26, 2023. Nurphoto | Nurphoto | Getty Images Seven-time Formula 1 world champion Lewis Hamilton is on the cusp of a surprise move from Mercedes to Ferrari for the 2025 … Read more
