The Chevrolet Camaro ZL1 starts at about $62,000 and is powered by a 650-horsepower V8 engine, a considerable upgrade over the roughly $26,000 base model. Source: General Motors DETROIT – General Motors will end production of the Chevrolet Camaro in its current form early next year, as the automaker transitions to all-electric vehicles. The Detroit automaker did… Continue reading The Chevrolet Camaro as you know it will fall out of production next year, GM says
Author: CNBC Online news
Carvana shares pop as company offers first-quarter guidance, restructures debt
A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois. Armando L. Sanchez | Tribune News Service | Getty Images Shares of Carvana popped during early trading Wednesday after the embattled used car retailer pre-announced guidance for the first quarter and released plans to restructure some of its $9 billion debt… Continue reading Carvana shares pop as company offers first-quarter guidance, restructures debt
Ford is about to break out big EV losses for the first time
Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company’s Michigan plant that produces the pickup. Michael Wayland | CNBC DETROIT – Ford Motor is about to tell investors what they’ve long wondered: How much is the transition… Continue reading Ford is about to break out big EV losses for the first time
How Ford and VW’s multibillion-dollar self-driving car project failed
In 2017, automakers were scrambling to develop cars that could drive themselves. Ford Motor bet a billion dollars on a startup called Argo AI to catch up to flashy tech companies like Google, Uber and Tesla. Volkswagen, the second-largest automaker in the world, signed on as a backer in 2019, investing $2.6 billion Argo AI… Continue reading How Ford and VW’s multibillion-dollar self-driving car project failed
Geely shares jump after automaker beats revenue expectations for 2022
watch now Chinese automaker Geely beat revenue expectations for 2022, sending shares surging Wednesday. Shares of Geely spiked as much as 7%, before settling down to trade nearly 3% above its previous close. Geely reported its 2022 revenue surged 45.6% from a year ago to 148 billion yuan ($21.49 billion), while profit jumped 8.5% to… Continue reading Geely shares jump after automaker beats revenue expectations for 2022
Ford reveals new Explorer EV for the European market
Ford revealed the electric 2023 Explorer for Europe on March 21, 2023. Ford DETROIT — Ford Motor on Tuesday unveiled its first all-new electric vehicle exclusively for the European market and said it plans to leverage the well-known Explorer nameplate to gain traction. The EV crossover is part of Ford’s plans to transition its European… Continue reading Ford reveals new Explorer EV for the European market
Dodge resurrects controversial Challenger SRT Demon for final year of V8 muscle cars
2023 Dodge Challenger SRT Demon 170 Dodge DETROIT — Dodge is resurrecting its controversial muscle car model, the Challenger SRT Demon, as a final special edition of the vehicle before production of the brand’s current V8 engine cars ends later this year. The limited-edition drag racing car will be the fastest, most powerful version of… Continue reading Dodge resurrects controversial Challenger SRT Demon for final year of V8 muscle cars
General Motors’ China business is hurting, and it’s not just because of Covid
A worker checks the quality of a vehicle before rolling off the assembly line at the production workshop of SAIC General Motors Wuling in Qingdao, East China’s Shandong province, Jan. 28, 2023. (Photo credit should read CFOTO | Future Publishing | Getty Images General Motors is losing ground in China, its top sales market for more… Continue reading General Motors’ China business is hurting, and it’s not just because of Covid
BMW expects higher margin and deliveries in 2023 amid electric rollout
Spencer Platt | Getty Images News | Getty Images German automaker BMW on Wednesday set out targets to slightly increase margins for its automotive segment and raise deliveries this year, as it pushes ahead with the rollout of its electric fleet. The company said it expects an EBIT (earnings before interest and taxes) margin of… Continue reading BMW expects higher margin and deliveries in 2023 amid electric rollout
Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
People look at the Volkswagen id buzz electric car during the press day at the Los Angeles Auto Show in Los Angeles, California, November 17, 2022. Mike Blake | Reuters Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two thirds targeting “electrification and digitalization.”… Continue reading Volkswagen announces five-year $193 billion investment plan as electrification gathers pace