China approves Geely acquisition of Ford España

China approved a Geely unit's acquisition of a 34% stake in Ford España. The deal is part of Geely's expansion in the European automotive market. Ford España is a subsidiary of Ford Motor Company.

Ford faces a class-action lawsuit over alleged fuel pump failures in 6.7L Power Stroke diesel trucks. The case, certified in five states, involves the Bosch CP4 pump, which plaintiffs claim is ill-suited for U.S. diesel. Ford denies the defect, citing maintenance issues. The case is moving toward trial, with no date set.

Goldman Sachs lowered its price target on Ford Motor from $16 to $14 while maintaining a neutral rating. The stock has seen a 5-day change of 0.41%, a 1st Jan change of -1.86%, and a year-to-date change of -7.39%.

U.S. auto sales declined 1% YoY in Q3 2026, with Ford, GM, and Stellantis lagging behind foreign rivals like Toyota, Honda, and Hyundai. Foreign brands gained market share due to stronger hybrid offerings. GM led U.S. sales (670,000 units) but saw a 5.5% decline. Toyota grew 0.7% (633,000 units), with hybrids accounting for over half of its sales. Analysts predict slower sales ahead but no sharp decline, with wealthier buyers supporting the market.

Stellantis (STLA) shares fell 7% to $4.37 after reporting flat U.S. sales, with Jeep down 20% offsetting Ram's 29% gain. Ford (F) dropped 2% to $12.02, and GM (GM) slipped 0.8% to $78.69. Stellantis also announced temporary production pauses at four French plants due to EV battery shortages.

Ford is recalling 565,691 Bronco and Bronco Raptor SUVs (2021-2026) due to potential engine-bay wiring short-circuits and fires, though only about 1% are estimated to be defective. The recall, announced on July 24, 2026, involves a repair to protect the wiring harness. Ford has reported 15 incidents but no accidents or injuries. Owners will be notified and can check their VIN for inclusion.