Ford Motor said on Monday that it was cutting prices on its top-selling battery-powered model, the Mustang Mach-E, and increasing production of the sport utility vehicle. It was the latest sign of intensifying competition in the electric car market. Two weeks ago, Tesla slashed prices of its electric cars by as much as 20 percent… Continue reading Ford Follows Tesla in Cutting Electric Vehicle Prices
Author: New York Times Online News
Falling Used-Car Demand Puts Pressure on Carvana and Other Dealers
About a year ago, the used-car business was a rollicking party. The coronavirus pandemic and a global semiconductor shortage forced automakers to stop or slow production, pushing consumers to used-car lots. Prices for pre-owned vehicles surged. Now, the used-car business is suffering a brutal hangover. Americans, especially people on tight budgets, are buying fewer cars… Continue reading Falling Used-Car Demand Puts Pressure on Carvana and Other Dealers
Tesla’s Profit Jumped 12% in Fourth Quarter
Tesla reported a respectable jump in profit for the last quarter of 2022, but slipping profit margins and slowing sales growth underlined the challenges that have weighed on the carmaker’s stock. The profit increase of 12 percent capped a tumultuous year that included intensifying competition, supply chain disruptions and concerns about the behavior of its… Continue reading Tesla’s Profit Jumped 12% in Fourth Quarter
Tesla Will Build Heavy Trucks at a New Factory in Nevada
Tesla will build a factory in northern Nevada that will manufacture electric semi trucks, the company said Tuesday, putting pressure on traditional truck makers like Daimler and Volvo that are just beginning to sell battery-powered vehicles. The factory, along with a new battery plant, will add 3,000 employees at an existing Tesla facility east of… Continue reading Tesla Will Build Heavy Trucks at a New Factory in Nevada
Rivian Lost $6.8 Billion Last Year as Production Fell Short
The maker of electric trucks said it expected to double production in 2023 as the supply of parts became more reliable. Go to Source
Tesla’s Cybertruck Is Coming Soon. Maybe.
Already two years behind schedule, the Cybertruck has experts wondering how the company will manufacture its unusual stainless steel “exoskeleton.” Go to Source
Do You Work in the Auto Industry? We Want to Hear From You.
Growth in sales of electric vehicles has created thousands of jobs in auto manufacturing, batteries and other new fields, but not without turmoil. There is talk of layoffs at some suppliers and automakers even as other companies expand. I cover the auto industry for The New York Times, and I am planning to write about… Continue reading Do You Work in the Auto Industry? We Want to Hear From You.
Tesla Will Build Heavy Trucks at a New Factory in Nevada
Tesla will build a factory in northern Nevada that will manufacture electric semi trucks, the company said Tuesday, putting pressure on traditional truck makers like Daimler and Volvo that are just beginning to sell battery-powered vehicles. The factory, along with a new battery plant, will add 3,000 employees at an existing Tesla facility east of… Continue reading Tesla Will Build Heavy Trucks at a New Factory in Nevada
Elon Musk Said Tesla Buyout Plan Didn’t Involve ‘a Specific Number’
Under direct questioning by a federal judge on Tuesday, Elon Musk could not say exactly how much money investors were considering putting into his 2018 proposal to take Tesla off the stock market. Mr. Musk wrote on Twitter on Aug. 7, 2018, that he had “funding secured” for the deal. But during his last day… Continue reading Elon Musk Said Tesla Buyout Plan Didn’t Involve ‘a Specific Number’
Elon Musk Says He Could Have Raised Funds to Take Tesla Private
Elon Musk said on Monday that he had not lied or misspoken about his plan to take Tesla off the stock market in 2018, testifying in federal court that Saudi Arabia’s sovereign wealth fund had “unequivocally wanted to take Tesla private.” Investors are suing Mr. Musk, Tesla and the company’s board because they contend that… Continue reading Elon Musk Says He Could Have Raised Funds to Take Tesla Private