Penske Automotive Group (NYSE:PAG) announced yesterday that its Board of Directors has increased the Company’s dividend to $0.43 per share. The new dividend is payable on March 1, 2021, to shareholders of record on February 10, 2021. The stock late today was trading at $62.0,+$1.24 or +2.06%. (See AutoInformed.com on Penske Automotive – May Business Improving, Penske Automotive Q1 2020 Results -46% at $0.64 per share, Penske Automotive Increases Dividend to $0.40 Per Share) Continue reading
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Ford to Manufacture Mustang Mach-E in China
Not enough chrome and bling for Chinese tastes?
Ford Motor announced today that Mustang Mach-E, its first global SUV built on an all-new, all-electric platform, will be manufactured in China by Changan Ford for local customers. As part of Ford’s late-to-market electrification strategy, Mustang Mach-E “will set new standards in style and performance in the Chinese high-end EV market when it becomes available in China later this year.”
Ford will also localize production of the Mustang Mach-E’s GT performance edition in China, a first by a global automaker to locally manufacture high-performance editions. The GT high performance edition will adopt a front and rear dual-motor layout, joining the 3-second club with its impressive 0-100km/h acceleration capabilities. Continue reading →