One of Amazon’s new electric delivery vans from Rivian gets ready to leave the Amazon Distribution Facility on Cyber Monday on November 28, 2022 in Aurora, Colorado. Rj Sangosti | Denver Post | Getty Images Rivian and Amazon are in discussions to adjust the exclusivity clause of their agreement for the EV maker’s electric delivery… Continue reading Rivian is revisiting its exclusivity agreement with Amazon for EV delivery trucks
Author: CNBC Online news
Luxury automaker Porsche issues growth outlook after record 2022 earnings
The all-electric Porsche Taycan Turbo. Source: Porsche AG Luxury automaker Porsche AG issued an ambitious long-term outlook of more than 20% of return on sales, after posting record 2022 earnings on Monday on the back of higher deliveries. The carmaker said its operating profit rose by 27% to 6.77 billion euros ($7.23 billion) last year,… Continue reading Luxury automaker Porsche issues growth outlook after record 2022 earnings
Ford recalling 18 electric F-150 Lightning pickup trucks after battery fire
Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Bill Pugliano | Getty Images News | Getty Images DETROIT… Continue reading Ford recalling 18 electric F-150 Lightning pickup trucks after battery fire
31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
If you’re in the market for a new car, be prepared for the possibility of paying more than sticker price. The average new-car price in February was $45,296, compared with the average manufacturer’s suggested retail price, or MSRP, of $41,637, according to new research from iSeeCars.com. An estimated 31% of new vehicles were sold above… Continue reading 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
GM offers buyouts to ‘majority’ of U.S. salaried workers
watch now DETROIT – General Motors will offer voluntary buyouts to a “majority” of its 58,000 U.S. white-collar employees, as it aims to cut $2 billion in structural costs over the next two years, according to a letter sent to workers Thursday from CEO Mary Barra. The “Voluntary Separation Program,” or VSP, will be offered to… Continue reading GM offers buyouts to ‘majority’ of U.S. salaried workers
Fatal Tesla collision with firetruck under federal investigation
In this photo provided by the Contra Costa County Fire Protection District, firefighters are seen at the scene of a fatal accident involving a Tesla and Contra Costa County fire truck on Feb. 18, 2023, in Contra Costa, California. Contra Costa County Fire Protection District Federal vehicle safety regulators initiated a new, special crash investigation… Continue reading Fatal Tesla collision with firetruck under federal investigation
An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
1962 Ferrari 250 GT SWB California Spider Courtesy of Gooding & Company, Images by Mathieu Heurtault. Wealthy car collectors spent a record amount at the classic-car auctions at Amelia Island over the weekend, suggesting the market remains strong despite recession fears and falling stocks. Total sales at the Amelia Island auction reached $178.4 million —… Continue reading An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
Vietnamese EV maker VinFast remains optimistic despite challenging entry to U.S. auto market
A VinFast VF8 electric car on display in a showroom. Yu Ruidong | China News Service | Getty Images It has been a challenge for Vietnamese electric vehicle maker VinFast to crack the U.S. market amid tough competition and softening demand. VinFast cut monthly lease prices for its first U.S. buyers to $399, down from… Continue reading Vietnamese EV maker VinFast remains optimistic despite challenging entry to U.S. auto market
Used vehicle prices rising at an unseasonably strong rate
A used car dealership is seen in Annapolis, Maryland on May 27, 2021, as many car dealerships across the country are running low on new vehicles as a computer chip shortage has caused production at many vehicle manufactures to nearly stop. Jim Watson | AFP | Getty Images DETROIT — Consumers hoping for a deal… Continue reading Used vehicle prices rising at an unseasonably strong rate
Rivian shares fall as EV maker looks to raise $1.3 billion amid growing demand concerns
The Rivian name is shown on one of their new electric SUV vehicles in San Diego, U.S., December 16, 2022. Mike Blake | Reuters Rivian Automotive plans to raise $1.3 billion in cash via a sale of convertible notes, joining a growing list of EV makers scrambling to hoard cash as demand falters. Shares of… Continue reading Rivian shares fall as EV maker looks to raise $1.3 billion amid growing demand concerns