The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street’s earnings estimates for the first quarter, offsetting losses of its electric vehicles. The company maintained its 2024 earnings guidance… Continue reading Ford tops first-quarter earnings estimates as commercial unit offsets EV losses
Author: CNBC Online news
Tesla surges after Elon Musk says new affordable EV models coming
watch now Tesla shares closed up 12% on Wednesday after CEO Elon Musk said the electric-vehicle company plans to begin production of new affordable EV models by early 2025. Musk’s comments came during Tesla’s earnings call on Tuesday after the company reported disappointing first-quarter numbers. Revenue fell 9% year over year, its steepest annual decline… Continue reading Tesla surges after Elon Musk says new affordable EV models coming
Elon Musk is keeping investors’ dreams of a Tesla robotaxi alive
watch now By just about every measure, Tesla’s first-quarter earnings report on Tuesday was dreary. The company missed estimates on the top and bottom lines. Revenue fell by 9% year over year, the worst decline since 2012. Auto sales dropped 13% from the same period in 2023. Free cash flow turned negative. But CEO Elon Musk downplayed most… Continue reading Elon Musk is keeping investors’ dreams of a Tesla robotaxi alive
Volvo Cars shares down 8% as first-quarter revenues fall
A Volvo EX30 fully electric EV Car is displayed during the Everything Electric London 2024 at ExCel on March 28, 2024 in London, England. John Keeble | Getty Images News | Getty Images Shares of Swedish automaker Volvo Cars fell more than 6% in early trade on Wednesday after a drop in first-quarter revenues. Revenue… Continue reading Volvo Cars shares down 8% as first-quarter revenues fall
China’s Xiaomi is selling more EVs than expected, raising hopes it can break even sooner
The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBC BEIJING — Chinese smartphone company Xiaomi‘s new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla‘s Model 3 on price. Xiaomi has received more than 70,000 orders for its electric SU7 sedan as of… Continue reading China’s Xiaomi is selling more EVs than expected, raising hopes it can break even sooner
Tesla cutting around 2,700 jobs in Austin and more than 3,300 in California as part of broad restructuring
Tesla CEO Elon Musk speaks at the Tesla Giga Texas manufacturing “Cyber Rodeo” grand opening party in Austin, Texas, on April 7, 2022. Suzanne Cordeiro | AFP | Getty Images Tesla is eliminating 3,332 jobs across the state of California, and 2,688 jobs in Austin, Texas, according to Worker Adjustment and Retraining Notification (WARN) Act… Continue reading Tesla cutting around 2,700 jobs in Austin and more than 3,300 in California as part of broad restructuring
Tesla reports biggest revenue slide since 2012, announces renewed push for affordable model
Elon Musk, CEO of Tesla and owner of social media site X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 9% drop in first-quarter revenue on Tuesday, the… Continue reading Tesla reports biggest revenue slide since 2012, announces renewed push for affordable model
General Motors raises 2024 guidance after big first-quarter earnings beat
watch now DETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street’s top- and bottom-line expectations for the first quarter. The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter. The company now expects adjusted earnings of $12.5 billion to $14.5… Continue reading General Motors raises 2024 guidance after big first-quarter earnings beat
Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Slaven Vlasic | Getty Images Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns… Continue reading Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs
What investors should know about the UAW’s organizing drive of VW
Volkswagens are seen in the employee parking lot at the Volkswagen automobile assembly plant on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT – The United Auto Workers notched a big win this weekend. Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking… Continue reading What investors should know about the UAW’s organizing drive of VW