Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
With more and more consumers looking to buy a midsize SUV, Ford is rolling out a fresh version of its iconic Explorer model. Unveiled Wednesday in New York, it's the first all-new version of the Explorer in eight years.
"The company thrives when we have fresh product, it is just as simple as that," Ford's president of global markets, Jim Farley, told CNBC after unveiling the new Explorer. "With this new line-up of utilities from top to bottom, it is just really going to allow us to grow."
The 2020 Explorer has been redesigned with special features, new technology and creature comforts SUV owners have come to expect. That includes Ford Co-Pilot360 which provides driver assistance to avoid collisions. In addition, Ford increased the towing capacity by 66 percent while making the Explorer lighter and more fuel efficient.
Starting at $33,000, the new model goes on sale this summer, Ford said.
"The new Explorer is very important for Ford," said Jeff Schuster, analyst at automotive consulting firm LMC Automotive. "Even though the Explorer is the top-selling midsize SUV, there's a lot more competition and new models coming in the next couple of years."
While there were 21 midsize SUV's available in the U.S. last year, LMC Automotive expects that number to climb to 26 next year and to 30 models by 2022.
That competition will be looking to cut into the Explorer's No. 1 position in the midsize SUV market. Last year, Ford sold more than 261,000 Explorers. An impressive number considering the model has not had a major makeover in years.
"The Explorer is really in the sweet spot of the market," said Schuster. "Last year, midsize SUVs made up almost 14 percent of the market and we think the segment will keep growing."
Whether or not the Explorer remains the leader of the SUV market remains to be seen, but the new model should position Ford to continue doing well in that segment. That's critical since Ford will be relying on its trucks and SUVs to generate profits while it restructures its business, investing billions in future technology like autonomous drive vehicles.
"We are on our toes again," said Farley. "We will grow more revenue, better profitability, you know, this is when the car business is great."
Questions? Comments? .