And while more automakers are likely to jump in, it seems nearly certain that category spending on the game will be down from last year, when six automakers ran a total of eight ads. The Jeep owner sat out last year but is known for releasing its plans just a few days in advance of […]
The exuberance sent some company valuations into overdrive, creating what some see as a stock market bubble. The Volvo affiliate has agreed to a reverse merger with special-purpose acquisition company Gores Guggenheim. In April, the company inked a deal to supply rental giant Hertz with 65,000 battery-powered vehicles. Polestar has said it will not need […]
The dollar value of Musk’s 17 percent stake in Tesla has shrunk by about $42 billion, almost double the equity portion he pledged in the Twitter transaction. Tesla’s stock price is sinking amid a broader selloff in equity markets around the world due to a slower economic expansion and persistent inflation. …Read the full story
The dollar value of Musk’s 17 percent stake in Tesla has shrunk by about $42 billion, almost double the equity portion he pledged in the Twitter transaction. Tesla’s stock price is sinking amid a broader selloff in equity markets around the world due to a slower economic expansion and persistent inflation. …Read the full story
The last two tumultuous years have also generated record profits, perhaps leaving some dealers feeling that their operations may have peaked. An agency model would leave just scraps for local retailers and destroy the value of franchises. Let’s cut to the chase: If the tenets of capitalism are correct, and if dealers are truly endangered, […]
Rivian Automotive Inc. He called the global semiconductor chip shortage the “most painful” constraint in the push to build production. Rivian’s stock slumped after it outlined during its first quarterly earnings report as a public company its struggles with the manufacturing of its R1T pickup and R1S SUV. …Read the full story
Pandemic variants, supply chain challenges and economic volatility have created a warped market for new and used vehicles and will continue to disrupt the automotive sector for the foreseeable future, according to a recent analysis from J.D. Looking back on 2021, we saw used-vehicle retail markets experience an 18 percent price increase while wholesale prices […]
The growth came as the global semiconductor chip crunch eased, giving a boost to light-vehicle output and stockpiles. …Read the full story
Despite the gains, ACV posted a fourth-quarter net loss of $26.3 million, compared with a loss of about $12.3 million in the year-earlier period. But he expects the semiconductor shortage to improve in upcoming quarters, smoothing out new-vehicle production. …Read the full story
CATL, China’s largest battery supplier for electric vehicles, is looking to enter the U.S. But CATL would need to consider “the impact on product quality and cost from worker training, efficiency, labor union and other factors,” before committing to a U.S. During Monday’s meeting, when institutional investors asked whether CATL uses technology, materials or equipment […]
Genesis Motor made its debut in China in April last year after entering North America, Australia and the Middle East. “It is a tough market to enter but we can’t be a truly global brand without being in China, the most important market in the world,” Genesis China CEO Markus Henne said. Car sales in […]
As of December, Wuling had delivered some 750,000 MiniEVs, KiWi EVs and NanoEVs. …Read the full story
That means dealers will go to great lengths to source used cars and trucks to stock their lots this year even as they continue to benefit from pricing power and higher profits amid the industry’s persistent new-vehicle shortage. Pennsylvania dealer Corina Diehl is uneasy about what could happen when new-vehicle flow normalizes, taking the pressure […]
It requires carmakers to earn an amount of credits equivalent to 14 percent of their annual output in 2021, up from 12 percent in 2020. …Read the full story
It requires carmakers to earn an amount of credits equivalent to 14 percent of their annual output in 2021, up from 12 percent in 2020. …Read the full story
“We are preparing the EV pickup trucks for 2024, and we are doing it by adjusting the specs and adjusting the performance in function of what we see coming up from our competitors,” Tavares said during a fireside chat with Morgan Stanley. …Read the full story
Ford had a market value of $83 billion at Tuesday’s close in New York, just barely ahead of GM’s $82.9 billion. The automaker has sold out the first year of its electric F-150 pickup, debuting this spring, and plans to produce 600,000 EVs annually by 2024. The valuations of Ford and GM still lag behind […]
“I mean, even in China there are less and less young people that … want to drive trucks,” Zhou told Automotive News, noting that the average age for commercial truck drivers in the U.S. DeepRoute.ai expects its self-driving commercial trucks to be fully operational in Shenzhen by early in the first quarter of 2022. The […]
But three leading Chinese EV startups – Xpeng, Nio and Li Auto – remain unprofitable with 2021 deliveries falling short of 82,000 each. Among the three EV startups, Li Auto faces the more acute challenge: improving product development capability. The Ford Mustang Mach-E will hit showrooms late this month. …Read the full story
Trading in secondhand electric or hybrid models rose to 47,000 units last year, the organization’s data shows. You could see — and actually feel — that rising level of interest in the pre-owned sector at CADA’s packed conference earlier this month in Haikou, a city with typically tropical temperatures on the southern Hainan Island. Even […]