Ford’s U.S. gross sales continued to get better from chip scarcity in October

Bronco SUVs in production at the Ford Michigan plant, June 14, 2021.

Michael Wayland | CNBC

DETROIT – Ford engine US vehicle sales showed positive signs of recovery from a persistent shortage of semiconductor chips that devastated the global auto industry this year.

The Detroit-based automaker reported sales of 175,918 new vehicles in October on Wednesday, a 4% year-over-year decline but a far smaller loss than in previous months. The sales are Ford’s best since April and the first time since May that the company hasn’t reported a double digital monthly loss compared to 2020.

“In June of this year, Ford retail sales grew 10.7%. With limited inventory and record turnaround rates in the second quarter, we worked closely with our dealers to collect retail orders that were up 16x year over year, ”said Andrew Frick, Ford vice president of sales in the US and Canada .

On another positive note, Ford said vehicle inventories did that were at record lows due to the shortage of chips increased by 7,000 units compared to the previous month to 243,000 cars and trucks.

Ford’s sales outperformed the industry last month, according to Cox Automotive. The auto research firm estimated on Wednesday that new car sales in the US were down about 21% compared to October 2020. That’s better than Cox’s original forecast of a 30% decline.

“The market is still experiencing very low inventory levels and correspondingly low incentives, but the worst is probably behind us,” Cox said in a press release.

Ford is one of a handful of automakers that report new vehicle sales every month. Others like General Motors and Stellantis (formerly Fiat Chrysler) only report quarterly sales.

Ford’s October sales come a week after the business Wall Street earnings expectations nearly doubled for the third quarter and increased its adjusted earnings guidance for the full year from $ 9-10 billion to $ 10.5-11.5 billion.

However, Ford is not yet clear about its semiconductor chip offering. CFO John Lawler said last week the company expects the chip shortage to continue into next year and possibly to a far lesser extent into 2023.

According to Lawler, Ford expects wholesale vehicle volume to grow 10% in 2022 compared to this year as semiconductor shortages continue to affect business.

Cash Talks: How the Large 12’s additions will assist the convention get better

In my last column, I discussed how the SEC empire grew in power when it took over the University of Texas and the University of Oklahoma from the Big 12. Even if the change didn’t take effect immediately, the Big 12 decided to plan ahead.

They decided to add four new teams to the conference to make sure they didn’t crumble like the old Big East during the reorientation of the conference in the early 2010s. The newest members of the Big 12 conference include Brigham Young University, the University of Cincinnati, the University of Houston, and the University of Central Florida.

Although the Big 12 are primarily based in the Midwest, they are expanding by going west with BYU in Utah and southeast with UCF in Florida.

Although these supplements will allow the Big 12 to regain some sales and popularity, will these supplements make up for the Texas and Oklahoma exit?

First, let’s think about what this will mean for weight sports like soccer and basketball.

BYU, Cincinnati, and UCF will all add strength to football.

BYU finished 11th on the AP poll last season, and Cincinnati was 8th. Although UCF didn’t take the spot last season, it’s a consistently strong program that went undefeated through the 2017 season and ranked the season 6 ended in the people. Houston Football isn’t the university’s best track and field program, but the team typically goes to bowling and was ranked 8th once in the 2015 season.

While none of these programs can keep up with Oklahoma’s dominance in soccer, they can easily keep up with the current state of Texas. Overall, the newcomers can give the Big 12 more opportunities to reach the top 25 rankings and
possibly compete for a playoff position.

When it comes to basketball, all of these teams can add a little more power to the Big 12.

Basketball is usually not an issue for the Big 12, with schools like Kansas, Baylor, and Oklahoma State regularly dominating the competition. But schools like Houston and Cincinnati can definitely add another level to the Big 12
Basketball depth.

Houston made it to the Final Four in last season’s NCAA men’s basketball tournament, and Cincinnati usually competed closely with Houston in conference play when both were in the American Athletic Conference.

But BYU or UCF don’t count either. BYU defeated the Gonzaga powerhouse when they both attended the same conference, and UCF was almost able to beat a Duke team led by Zion Williamson at the NCAA tournament a few years ago.

It looks like the Big 12 should still be able to compete in both football and basketball. Another important factor for the conference, however, is whether they can still generate enough revenue.

As I mentioned in my previous column, Texas and Oklahoma have the highest annual conference revenues, so this will be difficult to repeat. However, since BYU has a large following among the Latter-day Saint community and the UCF is one of the largest schools in terms of enrollment in the country, there is room for potential growth in both revenue and income after losing its two largest schools Popularity. .

With Houston and Cincinnati dominating basketball and soccer respectively, this can also add to the money the conference can raise and distribute to its members.

Scheduling will be difficult with these additions, as traveling between states like Utah and Florida for a conference matchup is a lot of work. However, these supplements have many benefits. It was a great strategic move by the Big 12 to include these four schools in the mix.

Losing the flagship schools of two states, which have a dominant presence in college sports, is not optimal. Still, by expanding their boundaries, the Big 12 can open up new markets that can lead to more sales.

The Midwestern college town vibe behind the Big 12 could also fade by adding schools from major cities like Orlando, Houston, and Cincinnati, but that’s a small sacrifice the conference has to pay to stay relevant.

Overall, moving the Big 12 to a nationwide conference can have a significant impact on sales, popularity, and other metrics. This is going to be a difficult task, but if you are strategic it can just work out. Other major conferences like the Big 10, Pac 12, and ACC have expanded to other regions, so why can’t the Big 12 get them working?

How good the move ends up depends on how well all of these schools do in the field. With the support of a
Top five conference, these teams can jump to the next level and revitalize the Big 12.

Pratik Thakur is a junior writing about business in the world of college sports. His column “Money Talks” runs every second Wednesday.

Gibson Metropolis approves $100,000 in emergency cash to assist metropolis recuperate

GIBSON CITY, Ill. (WCIA) – “Permit the Mayor to spend up to $ 100,000 primarily on rubble cleanup. There will be some other things, “said Gibson City Mayor Dan Dickey.

That application was approved to help Gibson City recover from Thursday’s devastating rain and historic flooding. Gibson City leaders declared $ 100,000 in emergency cash to help repair the community.

The city held an emergency meeting last night. They also declared a 30-day extension of a declaration of emergency. Mayor Dickey said the $ 100,000 will be mostly used to clear debris.

Several organizations were on site, including the Emergency Management Assistance Team, which is advising Gibson City on this crisis.

Some organizations that attended the Gibson City meeting to help include:

  • Team Rubicon
  • Red Cross
  • McLean emergency management
  • Ford County Emergency Management Coordinator
  • Salvation Army
  • Ford County board members
  • Gibson City officials
  • Gibson City Headmaster
  • Employee of State Representative Tom Bennett

The city wants to pay for the rubble removal. Team Rubicon encourages people to call them so they can help and come home.

The city is also building a fundraising team. Money can be transferred to the Bank of Gibson City, Venmo, check, or cash. The city says this money will be used to help residents. Volunteers are encouraged to visit New Beginnings Church if they want to help.

The city has more on its website.

Leisure business will get well from Covid

BEIJING – Chinese dancer and TV presenter Jin Xing is confident that the entertainment industry will return to normal and that the arts will be more valued after the pandemic.

In China, where tight lockdowns helped control the spread of Covid-19 within months, Jin’s private dance company resumed national tours last year, she said Tania Bryer as part of the virtual CNBC Evolve Global Summit.

The troops are now in “very good condition,” said Jin. She expects all of China’s theaters to open this year, followed by live stadium concerts.

While most of China has resumed normal business for more than a year, the country has had to deal with small coronavirus outbreaks. most recently in the southern export center of the city of Guangzhou. The uncertainty as well as the continued spread of the virus overseas have become one restrained recovery in Chinese consumer spending.

Jin has seen the ups and downs of China’s development since the 1960s.

She became a award-winning military dancer as a teenager, then had similar successes as a dancer in New York before returning to China. Jin is best known today as China’s earliest open transgender star who also hosts television shows.

Audience becomes “super calm”

In the wake of the pandemic, new protocols like virus testing and face masks have created a new dynamic between performers and their audience – especially when they’re allowed to meet offline instead of online.

Jin Xing (in red) appears for the first time in over 20 years and for the first time ever as a woman during a dress rehearsal on January 31, 2012, before it opens at the Joyce Theater.

Timothy A. Clary | AFP | Getty Images

At a recent performance in Nanjing City, near Shanghai, all 1,900 spectators wore masks, Jin said.

That meant the audience was “super calm” and “focused on what was happening” rather than chatting to each other, she said. That creates a “fantastic” environment for an artist on stage, she added.

Another TV show starts

Jin is also enjoying success with young people online.

This spring, the first season of their reality TV dating show “Ni hao ling yi ban” aired on the video platform iQiyi. The show’s name roughly translates to “Hello, (my) other half” and focuses on Chinese people who graduated from top foreign universities before becoming entrepreneurs in China.

“They are doing very well professionally. But there is still (a) huge void in their personal lives,” said Jin, noting that regardless of their education, participants are faced with the same question of what kind of family to raise.

Read more about China from CNBC Pro

The matchmaking show is slated for another season later this year, she told CNBC.

Whether on stage or online, Jin hopes her work can help keep viewers calm, especially after the shock of the pandemic.

People can never make enough money, she said, but people can “slow down”.

‘Secret’ Journey Fund Might Assist Vacationers Get better Misplaced Cash – NBC Los Angeles

During the pandemic, the NBC4 I team received more travel-related complaints than ever before. But many don’t know that California has set up a fund to help travelers make up for lost money.

Tere Marquez’s first vacation without her children – in the Caribbean – went great. That is, until the airline canceled its flight home to LA.

“I started crying,” said Marquez. “I thought, ‘What do you mean, we don’t have a flight home?'”

Marquez called the airline and the online travel agent she had booked the flight with. The only way to return home was to leave a day early and combine with a 13 hour layover through Germany. It’s an option she called “crazy”. Instead, Marquez paid $ 1,900 to book a new flight home with another airline. So an attempt was made to get a refund on the new flight, but neither the airline nor the travel agent moved.

“It was tough,” said Marquez.

She didn’t know, but she could have tried to get her money back by filing a complaint with the Travel Consumer Restitution Corporation or the TCRC. It is a private company, but was founded 25 years ago by the state parliament. The idea behind this is to give consumers financial recourse if a travel agent fails to deliver or goes down on their knees.

“It’s especially good right now, this time, I think,” said Vicki Scheck from ScheckTrek Travel. “It offers consumers another layer of protection.” The TCRC is funded by all California registered travel agents such as check. You have to bring in about $ 100 a year.

The TCRC pot is pretty big – about $ 3 million. And only a fraction of it is spent each year. The TCRC told the I-Team that it receives about 57 applications annually and approves 72% of them. The average claim paid is approximately $ 3,000. The pandemic sparked more claims last year – 199. TCRC said it paid 62% of that.

Scheck has never known a traveler who filed a complaint with the TCRC.

“The travel agents I know are fantastic,” she said. “And they are totally behind their customers.” But she likes being around and encourages travelers to use it.

“Most travel agents support this,” said Scheck. “Because if there is a bad apple, it really does cast a shadow over us all. We want the people who are hurt by this to have recourse. “

The TCRC has some rules like:

  • The agent you are suing must be registered in California.
  • Claims are limited to $ 15,000 per person.
  • There is a $ 35 fee to submit a claim.

Click to submit a claim Here.

How NASCAR plans to recuperate from a tough 2020

# 43 Victory Junction Chevrolet driver Bubba Wallace prepares for the NASCAR Cup Series Super Start Batteries 400 presented by O’Reilly Auto Parts at Kansas Speedway in Kansas City, Kansas on July 23, 2020 .

Jamie Squire | Getty Images

A welcoming environment.

This is what NASCAR President Steve Phelps said when speaking to CNBC about how the sport wants to be perceived after its defining moment in 2020

“That has been Bubba’s mantra all the back of the season since June,” Phelps said. “It’s inviting and inclusive.”

Phelps did his media rounds before NASCAR returns on Sunday with one of its key events, the Daytona 500. In his third year as president, Phelps is tasked with repairing the organization that once drew 11 million viewers to its signature race.

NASCAR made headlines in 2020 when it banned the Confederate flag Last June. It was behind driver Darrell “Bubba” Wallace, who had a backlash after calling for the ban. And then Wallace was in the center of a Noose charge.

Previously, driver Kyle Larson used a racist arc when engaging with a live video game community. This brought NASCAR into the spotlight, which no sports company wants. It had to face its problems to move forward.

“It was the most challenging year in our sporting history, but I would say it was the most enjoyable and successful in our sporting history,” said Phelps.

Now comes the challenging part: creating a welcoming environment by considering race and diversity issues and thereby repairing NASCAR’s business.

Former NBA Chicago Bulls Guardian Michael Jordon held the crowd high during pre-race ceremonies prior to the start of the NASCAR Sprint All-Star Race at Charlotte Motor Speedway on May 22, 2010 in Concord, North Carolina.

John Harrelson | Getty Images

Bubba, Jordan, Pitbull and… Snoop Dogg?

After Wallace’s departure from Richard Petty Motorsports, basketball icon Michael Jordan formed the 23X1 racing team together with well-respected driver Denny Hamlin. They recruited Wallace as a top driver.

I am a good move for NASCAR, which is betting that Jordan will spark new interest.

“We’re thrilled to have Michael here,” said Phelps. “I think this will generate considerable interest in itself. Like most owners, Michael only wants to be successful on the track,” he added.

The 23X1 team has already dressed very well Brand sponsorsincluding MC Donald‘s, Toyota and With the Dash.

Wallace hasn’t recorded any Victory in his career. He has to be successful for NASCAR to get it Tiger Woods-like PGA Tour momentHe had a tough night in Daytona 500 qualifying 2021, finished second in Duel 2 and got one sixth starting position in the race on Sunday.

One person who spoke to CNBC about Wallace’s influence mentioned Danica Patrick as an example how things can go if Wallace doesn’t win. The person asked not to be identified due to sensitivity to the subject.

Patrick set records in the sport as a driver in 2012 and cast a positive light on diversity, the person said. But despite the high profile, she struggled and eventually decided to leave Full time in 2017.

NASCAR has the ability to increase viewership and engagement by using Wallace as an entry point. Pop star Pitbull is also a NASCAR team partner. He joined the Trackhouse Racing Team in January.

“I’m very optimistic about NASCAR this season,” said Dan Cohen, senior vice president of Octagon’s global media rights advisory group. “You’re back on your schedule. You have Bubba Wallace – a good storyline. You have got celebrity owners involved, which adds a little flair.”

A former NASCAR team owner, who spoke to CNBC on condition of anonymity, said NASCAR should attract even more celebrity owners. Hip hop star Snoop Dogg name was mentioned.

Phelps said, “There are some names that have been thrown away. I don’t know if any of them will be used.”

Bubba Wallace, driver of the # 43 Victory Junction Chevrolet, takes a selfie with NASCAR drivers that put him at the top of the grid as a token of solidarity with the driver ahead of the NASCAR Cup Series GEICO 500 on June 22nd at Talladega Superspeedway. 2020 in Talladega, Alabama.

Chris Graythen | Getty Images

NASCAR marketing strategy

In addition to celebrities and Wallace’s potential success, NASCAR needs a marketing strategy that targets a minority, suggested a longtime marketing director Tony Ponturo.

How will Phelps and the company sell NASCAR to more diverse communities? What will it do to attract newer fans onto the track?

Ponturo, the former vice president of Anheuser-Busch In global media sports and entertainment marketing, NASCAR suggested avoiding “overcomplicated things” like the playoff system.

“I think they confuse more people than they educate,” said Ponturo. “As a sports fan, I couldn’t tell you how your entire system really works.”

He said a simplistic approach should work, adding, “You have to go to red and blue states and urban communities so that consumers have a reason to spend time playing the sport. And you have to work hard on that.”

George Pyne, CEO and founder of Bruin Sports Capital, agreed. Pyne served as NASCAR’s chief operating officer, helping him land one $ 4.5 billion media rights Pact before leaving the sport in 2005

“You have to market the sport to them and a driver, a team that could make it more relevant to them,” said Pyne. “And you have to talk about why this product is interesting.”

Pyne suggested better storytelling as a method. He said NASCAR’s promotion for Wallace could be action, and NASCAR could tell the audience what goes into building a car by showing more engagement behind the scenes.

Presenting more stories that aren’t drivers could help NASCAR as well. In 2018 Brehanna Daniels made history when she joined a top NASCAR pit crew and the first black woman join a team.

“You have to tell the story about people,” said Pyne. “And when you can do all of this, things get interesting. The human part of it is a big part too.”

Ryan Newman, driver of the # 6 Koch Industries Ford, drives during the 62nd Annual NASCAR Cup Series Daytona 500 on February 17, 2020 at Daytona International Speedway in Daytona Beach, Florida.

Mike Ehrmann | Getty Images

Back to business

Building a new fan base takes patience and time and starts with Daytona.

Like other sports leagues, NASCAR touts its metrics, suggesting that its unique audience has grown by 17%. But money is made through sponsorship support and television viewers. And Daytona has suffered a loss in the past ten years.

During the race, the number of spectators rose by 18 million in 2002. It fell around 11 million viewers in 2017 and 9 million viewers in 2019. A. weather-related shift The 2020 race had to stretch over two days and attracted an average of 7.3 million viewers.

Marketing managers and NASCAR experts point out several things, including the failed “Tomorrow’s car“Project and a Charter systemthat turned off long-time fans. The great recession was to blame and affected participation, while NASCAR retired stars like Jeff Gordon and Dale Earnhardt Jr.

It created a lack of interest and the number of viewers fell.

Worse still, the decision to move NASCAR to the Fox Sports and NBC Sports cable channels contributed to the loss of television exposure. It can help NBC move now his races to USA Network, which reaches 86 million households, compared to 80 million from NBCSN. The current $ 4.4 billion The rights agreement runs until 2024, after which NASCAR could run elsewhere.

According to advertising company MediaRadar, marketers have also declined. The company submitted data to CNBC showing 865 advertisers (for a total of $ 182 million) served NASCAR programs in 2020, up from 946 ads ($ 291 million) in 2019. MediaRadar collects advertising data from marketers through a variety of media channels including TV and online.

To counteract this, NASCAR wants to attract attention return a dirt road on the Bristol Motor Speedway. Sport hasn’t seen this in over 50 years. And expect more marketing popular drivers like 2020 champion Chase Elliott. Even the return of Larson, who was suspended for his mistake, engenders intrigue.

“The sport has a lot of momentum,” said Phelps. “And I think that will continue in 2021.”

The outside executives trust Phelps to deliver on time.

“Phelps is a smart marketer, a smart businessman,” Cohen said. “He understands – they have to change and adapt and adapt. He understands that they have to be different.”

Pyne added, “He’s a good person; a sincere person. I think he’s committed to doing the right thing.”

It’s the new NASCAR: a large, welcoming environment.

“We’re going to be disruptive,” said Phelps. “And we’ll be brave. And we’ll do it in our own authentic way. We’re not the NFL. We’re not the NBA. We’re NASCAR.”