UAW President Shawn Fain chairs the 2023 Special Elections Collective Bargaining Convention in Detroit, March 27, 2023. Rebecca Cook | Reuters DETROIT — United Auto Workers President Shawn Fain promised union members he’d do things differently during contract talks with the Detroit automakers this year. Thus far, he has delivered. Fain has propelled the UAW… Continue reading Auto industry braces for contentious contract talks as UAW formally kicks off bargaining
Author: CNBC Online news
Tesla settles class-action Solar Roof lawsuit for $6 million
Tesla vehicles parked outside a home with a Tesla Solar Roof on Weems Street in Boca Chica Village, Texas, June 21, 2021. Veronica G. Cardenas | Bloomberg | Getty Images Tesla agreed to pay just over $6 million to settle a class-action lawsuit brought by customers who faced sudden Solar Roof price hikes in 2021… Continue reading Tesla settles class-action Solar Roof lawsuit for $6 million
GM positions new Chevy Trax, Buick Envista crossovers to fill an affordability gap
2024 Buick Envista GM DETROIT – General Motors is positioning two new crossovers from Chevrolet and Buick as its answer to affordability issues left by discontinued, cheaper sedans. Affordability has increasingly become a concern among investors and consumers. Cox Automotive reports the average price paid for a new vehicle this year has ballooned to upward… Continue reading GM positions new Chevy Trax, Buick Envista crossovers to fill an affordability gap
Used car prices expected to stabilize following major decline in June
Pre-owned vehicles are seen at the Roger Beasley South dealership lot in Austin, Texas, June 7, 2023. Brandon Bell | Getty Images DETROIT — Wholesale used vehicle prices posted their largest decline last month since the beginning of the Covid-19 pandemic, as prices are set to stabilize during the second half of this year. Cox… Continue reading Used car prices expected to stabilize following major decline in June
Ford ends an era as the last Fiesta rolls off the production line
Ford Fiestas pictured at a facility in Cologne, Germany, on Feb. 14, 2023. Alex Kraus | Bloomberg | Getty Images The last Ford Fiesta is set to roll off the production line Friday, marking the end of an era that saw the vehicle become a mainstay of millions of drivers around the world. The Fiesta… Continue reading Ford ends an era as the last Fiesta rolls off the production line
EV sales: Hyundai overtakes GM, but Tesla’s U.S. dominance continues
A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas. Tesla’s Model Y has become the world’s best selling car in the first quarter of 2023. Brandon Bell | Getty Images DETROIT – Legacy automakers continue to promise big increases in production and sales of battery-electric vehicles,… Continue reading EV sales: Hyundai overtakes GM, but Tesla’s U.S. dominance continues
Nikola falls short of winning shareholder support to issue new stock – but a new law may help
Nikola TRE FCEV2 Courtesy: Nikola Electric truck maker Nikola is still short of winning shareholder approval to issue new stock and has once again adjourned its annual meeting to try to win more support, the company said on Thursday. Nikola had adjourned its June 6 annual meeting until Thursday to try to drum up more… Continue reading Nikola falls short of winning shareholder support to issue new stock – but a new law may help
What Ford’s buoyant quarterly sales reveal about progress toward its ambitious EV goals
Resilient quarterly auto sales from Club name Ford Motor (F) on Thursday bolstered our confidence in the company’s transformation strategy to support its electric vehicle future. Ford reported total U.S. auto sales of 531,662 during the second quarter, a 9.9% year-over-year increase, a second straight quarterly advance. Those gains were driven by a 34% increase… Continue reading What Ford’s buoyant quarterly sales reveal about progress toward its ambitious EV goals
Nikola will soon find out whether its shareholders have approved its plan to sell more stock
Nikola TRE FCEV2 Courtesy: Nikola Electric heavy-truck maker Nikola will find out later Thursday whether its shareholders have approved its plan to raise money by selling more stock. Nikola hopes to raise more capital to help ramp up production of its new fuel-cell-powered electric heavy truck, set to launch later this month. But before it… Continue reading Nikola will soon find out whether its shareholders have approved its plan to sell more stock
NHTSA presses Tesla for more records in Autopilot safety probe
Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France. Chesnot | Getty Images Tesla must send extensive new records to the National Highway Traffic and Safety Administration… Continue reading NHTSA presses Tesla for more records in Autopilot safety probe