watch now The United Auto Workers union will strike against the Detroit automakers if the sides don’t reach labor deals by an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday on CNBC’s “Squawk Box.” Fain’s comments came the morning after he outlined plans to local union leaders about implementing targeted strikes at… Continue reading UAW will strike against Detroit automakers if deals aren’t reached by Thursday, union boss says
Author: CNBC Online news
European Union launches anti-subsidy probe into Chinese EVs
China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. Yi Fan | Visual China Group | Getty Images The European Commission, the executive arm of the European Union, on Wednesday launched an investigation into subsidies given to electric vehicle makers… Continue reading European Union launches anti-subsidy probe into Chinese EVs
Wall Street sees potential UAW strikes as manageable, with upsides
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. Michael Wayland / CNBC DETROIT – Many on Wall Street view potential strikes by United Auto Workers against the Detroit automakers as largely manageable – even seeing investment opportunities. Some believe potential strikes are already factored into… Continue reading Wall Street sees potential UAW strikes as manageable, with upsides
In ‘shift,’ some car shoppers shun top-of-the-line models, analyst says. How to find an inexpensive new vehicle
Used car sales are soaring all over the U.S., and companies from Autonation to CarMax, Carvana and Buffalo, New York-based used car start-up ACV Auctions are benefitting. Patrick T. Fallon | Bloomberg | Getty Images During the pandemic, shoppers splurged on higher-end new cars. Now, given the current high car costs and interest rates, drivers… Continue reading In ‘shift,’ some car shoppers shun top-of-the-line models, analyst says. How to find an inexpensive new vehicle
Tesla shares soar 10% after Morgan Stanley upgrade
SHANGHAI, CHINA – SEPTEMBER 06: Aerial view of Tesla vehicles waiting to be loaded on board a roll-on-roll-off cargo vessel at Nangang port on September 6, 2023 in Shanghai, China. (Photo by VCG/VCG via Getty Images) Vcg | Visual China Group | Getty Images Tesla shares rose more than 10% Monday after a Morgan Stanley upgrade,… Continue reading Tesla shares soar 10% after Morgan Stanley upgrade
Oracle reports earnings after the bell. Here’s where Jim Cramer is on the stock
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. Stocks were higher to kick off the week, especially the Nasdaq, as Club name Apple (AAPL) stabilized after last week’s decline on China concerns. Jim Cramer is out in San Francisco… Continue reading Oracle reports earnings after the bell. Here’s where Jim Cramer is on the stock
How electrified roads could help fix America’s electric vehicle charging problem
Electric vehicles are taking up an increasing percentage of the overall auto market share every year — rising from 4% in 2020 to 14% last year. Among the holdouts, a lack of charging infrastructure seems to be one of consumers’ most common reasons for not switching from gas to electric vehicles. But now, electric road… Continue reading How electrified roads could help fix America’s electric vehicle charging problem
Seat massages, smartphones and driverless features: Automakers turn to tech to take on Tesla
Amazon was among a number of technology companies at the IAA motor show in Munich. The presence of Amazon, Qualcomm, Samsung and other tech giants underscores how traditional automakers are looking to bolster the tech in their cars. Arjun Kharpal | CNBC MUNICH — You’d be forgiven for thinking that the IAA, one of the… Continue reading Seat massages, smartphones and driverless features: Automakers turn to tech to take on Tesla
How Elon Musk set Tesla on a new course for self-driving
The following is adapted from Walter Isaacson’s biography “Elon Musk,” publishing Sept. 12. On a Friday in late August of this year, Elon Musk got into his Model S at Tesla headquarters in Palo Alto, selected a random spot on his navigation screen, and let the car drive itself using its Full Self Driving technology.… Continue reading How Elon Musk set Tesla on a new course for self-driving
Stellantis offers 14.5% pay increase to UAW, days before possible strike
Demonstrators during a United Auto Workers (UAW) practice picket outside the Stellantis Mack Assembly Plant in Detroit, Michigan, US, on Wednesday, Aug. 23, 2023. Jeff Kowalsky | Bloomberg | Getty Images Stellantis on Friday offered significant four-year wage increases to its hourly workers represented by the United Auto Workers, as it scrambles to avoid a… Continue reading Stellantis offers 14.5% pay increase to UAW, days before possible strike