Ferrari Original Factory Entrance Courtesy: Ferrari Ferrari on Wednesday said that its second-quarter profit jumped 33% from a year ago as more of its customers chose costly “personalization” options for their new sports cars. Ferrari also raised its guidance for the full year following the results. related investing news 2 days ago The company now… Continue reading Ferrari raises guidance after profit jumps as more customers personalize their sports cars
Author: CNBC Online news
Tesla faces new NHTSA probe over loss of steering control in Model 3 and Y vehicles
A Tesla car dealership in Austin, Texas, May 31, 2023. Brandon Bell | Getty Images The National Highway Traffic Safety Administration has opened a new investigation into Tesla over steering control problems and loss of power steering in 2023 Model 3 sedan and Model Y crossover utility vehicles. The federal vehicle safety regulator said in… Continue reading Tesla faces new NHTSA probe over loss of steering control in Model 3 and Y vehicles
Ford restarts F-150 Lightning production, says demand jumped sixfold after July price cuts
Ford Motor Company’s electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022. Jeff Kowalsky | AFP | Getty Images Ford Motor said Tuesday the factory that builds its electric F-150 Lightning pickup has reopened after a six-week break for upgrades — and that recent… Continue reading Ford restarts F-150 Lightning production, says demand jumped sixfold after July price cuts
Chinese EV maker Xpeng sees highest deliveries this year but is eclipsed by rivals Nio, Li Auto
Xpeng G9 SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) on April 18, 2023 in Shanghai, China. VCG | Visual China Group | Getty Images Chinese electric car startups Xpeng, Nio and Li Auto on Tuesday posted vehicle delivery numbers for July, showing… Continue reading Chinese EV maker Xpeng sees highest deliveries this year but is eclipsed by rivals Nio, Li Auto
How EVs are upending the 100-year-old auto supply chain
Companies that make parts for internal combustion engines are facing a harsh future. Revenues for internal combustion engines, as well as fuel and exhaust systems, are expected to decline 44% through 2027, according to the 2023 Deloitte Automotive Supplier Study. Meanwhile, revenues for electric drivetrains and batteries or fuel cells are expected to rise 245%,… Continue reading How EVs are upending the 100-year-old auto supply chain
A key test for EV sales and the adoption curve is coming
Electric Chevrolet Silverado shown at the New York Auto Show, April, 2022. Scott Mlyn | CNBC With unsold electric vehicles backing up on the lots of rivals’ dealers, General Motors’ electric-vehicle rollout strategy for the fall is shaping up to be a key moment for Detroit when it comes reading an uncertain EV adoption curve.… Continue reading A key test for EV sales and the adoption curve is coming
As Ford loses billions on EVs, the company embraces hybrids
Ford Motor Co. displays a new 2021 Ford F-150 pickup truck at the Rouge Complex in Dearborn, Michigan, Sept. 17, 2020. Rebecca Cook | Reuters Heads up, hybrid fans: Ford Motor is working on a whole bunch of new hybrid models. “You’re going to see a lot more hybrid systems from us,” CEO Jim Farley… Continue reading As Ford loses billions on EVs, the company embraces hybrids
The Investing Club’s top 10 things to watch in the stock market Friday
1. We’re watching the bond market Friday after Thursday’s spike in yields triggered a late-day reversal for equities, ending the Dow Jones Industrial Average‘s winning streak. The yield on the U.S. 10-year Treasury was down slightly in early trading, at just under 4%. 2. The Dow on Thursday ended its longest stretch of consecutive gains… Continue reading The Investing Club’s top 10 things to watch in the stock market Friday
As interest rates, inventory issues keep car costs high, what drivers are doing to make ownership possible
Westend61 | Westend61 | Getty Images Access to personal cars remains important to Americans despite the growing monthly cost of ownership. The average monthly auto payment reached $733, a new record, in the second quarter of the year, according to a report by auto site Edmunds. Seventy-eight percent of middle-income households earning between $47,000 and… Continue reading As interest rates, inventory issues keep car costs high, what drivers are doing to make ownership possible
A marathon, not a sprint: Mercedes-Benz CEO outlines challenges in shift to EVs
A Mercedes-Benz EQA photographed in Berlin on Jan. 20, 2021. Sean Gallup | Getty Images News | Getty Images The shift to zero-emission mobility should be viewed as a marathon not a sprint, according to the CEO of Germany’s Mercedes-Benz. Speaking to “Squawk Box Europe,” Ola Kallenius sought to highlight the huge challenge facing the… Continue reading A marathon, not a sprint: Mercedes-Benz CEO outlines challenges in shift to EVs