Major U.S. airline CEOs have requested a meeting with Boeing's board to address concerns over an Alaska Airlines accident and production issues, seeking a plan to fix quality problems at the aircraft maker. Boeing has agreed to send Chairman Larry Kellner and other board members to meet with the airline leaders as soon as next week. The order backlogs are causing frustration for airline executives, leading to route cuts and efforts to acquire additional aircraft to meet demand.
Toyota has halted global shipments of 10 vehicle models after discovering irregularities in testing of diesel engines, caused by a subsidiary using software to manipulate horsepower output values. Despite the engines meeting output standards, the company decided to temporarily stop shipping the affected models, including the popular Hilux pickup truck. This is the second production problem to hit Toyota in two months, following recalls and production shutdowns in December, and Daihatsu, a Toyota subsidiary, also facing safety inspection irregularities.
Aston Martin shares plunged over 16% after the luxury carmaker reduced its volume target and reported a larger-than-expected quarterly loss. Production problems with the new DB12 model impacted deliveries and resulted in a revised volume projection of 6,700 units for 2023, down from the previous estimate of 7,000 units. Aston Martin's Executive Chairman, Lawrence Stroll, expressed confidence in the demand for their next-generation sports cars and maintained the company's outlook for 2023.
Electric vehicle start-up Faraday Future is facing cash and production problems, causing its stock to dive. The company has yet to deliver its luxury EV, the FF91, and has been struggling to secure funding. Faraday Future is just one of many EV start-ups facing challenges in the competitive market.
