Nikola TRE FCEV 2. Courtesy: Nikola Electric truck maker Nikola said Thursday that it has received nearly 300 orders for its new hydrogen fuel cell semitruck — but it’s facing what will be a costly recall of its earlier battery-electric trucks. Nikola recalled all of its Tre battery-electric trucks, 209 in total, in August following… Continue reading Nikola’s loss widens following a costly recall of its battery-electric semi trucks
Author: CNBC Online news
Ferrari again raises guidance as customers opt for high-priced, personalized sports cars
The Ferrari original factory entrance. Courtesy: Ferrari Ferrari on Thursday said its third-quarter profit jumped 46% from a year ago as its wealthy customers continued to choose expensive “personalization” options for their new cars. As it did last quarter, Ferrari again boosted its guidance for the full year following the results. Ferrari now expects 2023… Continue reading Ferrari again raises guidance as customers opt for high-priced, personalized sports cars
Why one Tesla manager thinks used cars are ‘absolutely pivotal’ for EVs
Used Tesla cars for sale at Big Motoring World’s showroom in the U.K., in 2023. Chris Ratcliffe | Bloomberg | Getty Images Used electric vehicles are set to play an important part in the shift to more sustainable forms of transportation, according to a manager at Elon Musk’s Tesla. At the EV Summit 2023 in… Continue reading Why one Tesla manager thinks used cars are ‘absolutely pivotal’ for EVs
CNBC Daily Open: The Fed keeps rates, markets celebrate
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on November 01, 2023 at the Federal Reserve in Washington, DC. Kevin Dietsch | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings… Continue reading CNBC Daily Open: The Fed keeps rates, markets celebrate
Toyota raises its outlook as strong hybrid demand juices profits
A 2022 Toyota Mirai hydrogen fuel cell vehicle, right, next to Toyota Prius hybrid vehicles during AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California, U.S., on Wednesday, Nov. 17, 2021. Bing Guan | Bloomberg | Getty Images Toyota Motor on Wednesday said its quarterly profit more than doubled from a… Continue reading Toyota raises its outlook as strong hybrid demand juices profits
Why dealers say EV sales have slowed
Cconsumers spent nearly $400 billion on electric cars worldwide in 2022, and the U.S. is expected to add 1 million new EVs to its roads this year. From 2023 to 2027, automotive companies have committed $616 billion in total investments in EVs, according to consulting firm AlixPartners. And yet, electric vehicles are piling up at… Continue reading Why dealers say EV sales have slowed
Aston Martin shares plunge on volume target cut, lingering debt
Aston Martin DBS Superleggera (c) Paul A. Eisenstein | TheDetroitBureau Shares of Aston Martin were down by 11% at 10:01 a.m. London time Wednesday morning, slightly paring losses incurred after the British luxury carmaker cut its volume target due to production problems for its new DB12 model and posted a bigger-than-expected quarterly loss. Company shares… Continue reading Aston Martin shares plunge on volume target cut, lingering debt
UAW strikes cost Stellantis about $3.2 billion in revenue
United Auto Workers members rally outside Stellantis’ Ram 1500 plant in Sterling Heights, Michigan, after the union called a strike at the plant on Oct. 23, 2023. Michael Wayland / CNBC DETROIT — Labor strikes by the United Auto Workers union cost Stellantis about $3.2 billion, or 3 billion euros, in lost revenue through October,… Continue reading UAW strikes cost Stellantis about $3.2 billion in revenue
Winners and losers of the UAW talks with GM, Ford and Stellantis
President Joe Biden speaks next to Shawn Fain, president of the United Auto Workers, as he joins striking members of the union on the picket line outside GM’s Willow Run Distribution Center in Bellville, Michigan, Sept. 26, 2023. Evelyn Hockstein | Reuters DETROIT — A tentative deal Monday between the United Auto Workers and General… Continue reading Winners and losers of the UAW talks with GM, Ford and Stellantis
CNBC Daily Open: Market bounce may not last
Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to… Continue reading CNBC Daily Open: Market bounce may not last