Author: CNBC Online news

Chrysler and Jeep parent Stellantis offering buyouts to some U.S. salaried employees

The sign is seen outside of the FCA US LLC Headquarters and Technology Center as it is changed to Stellantis on January 19, 2021 in Auburn Hills, Michigan. – Newly-created European carmaker Stellantis motored its way January 18, 2021 onto the Paris and Milan stock exchanges. Stellantis — created by the merger of France’s PSA… Continue reading Chrysler and Jeep parent Stellantis offering buyouts to some U.S. salaried employees

Elon Musk plans Twitter content moderation council as questions about Trump return loom

In this photo illustration, the image of Elon Musk is displayed on a computer screen and the logo of twitter on a mobile phone in Ankara, Turkiye on October 06, 2022. Muhammed Selim Korkutata | Anadolu Agency | Getty Images After closing a $44 billion transaction to take Twitter private, Tesla and SpaceX CEO Elon… Continue reading Elon Musk plans Twitter content moderation council as questions about Trump return loom

Here’s a roundup of 8 price target changes we made in Club stocks after earnings

This earnings season has been a tough one for our big technology stocks — and as a result, we’ve lowered several of our price targets based on the companies’ latest quarterly reports, forward guidance and commentary. The current rising interest rate environment and the strong U.S. dollar — another 75-basis-point rate hike by the Federal… Continue reading Here’s a roundup of 8 price target changes we made in Club stocks after earnings

EU strikes deal to ban the sale of new diesel and gasoline cars from 2035

An electric car being charged in Germany. The European Union is moving forward with plans to ramp up the number of EVs on its roads. Tomekbudujedomek | Moment | Getty Images The EU’s plans to phase out the sale of new diesel and gasoline cars and vans took a big step forward this week after… Continue reading EU strikes deal to ban the sale of new diesel and gasoline cars from 2035

Auto dealer stocks rally despite Wall Street’s ‘demand destruction’ theory

Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. Mario Tama | Getty Images DETROIT – Shares of AutoNation, Group 1 Automotive and other automotive dealers rallied Thursday following strong third-quarter earnings and optimistic outlooks regarding consumer demand for new vehicles. The results and comments followed concerns… Continue reading Auto dealer stocks rally despite Wall Street’s ‘demand destruction’ theory

Inside the world’s first affordable solar-powered electric vehicle: The $25,000 Sono Motors Sion

Germany company Sono Motors says it will bring a solar-powered electric vehicle to market in Europe in mid-2023. Sono has brought the car, called the Sion, on a tour throughout the U.S., in anticipation of its eventual domestic release. Priced at $25,000, the car is more affordable than most EVs on the U.S. market. It… Continue reading Inside the world’s first affordable solar-powered electric vehicle: The $25,000 Sono Motors Sion

Mercedes-Benz says car prices are ‘well-supported’ in China after Tesla cuts prices of its EVs

2022 Mercedes-Benz EQS EV Mercedes-Benz Mercedes-Benz finance chief on Wednesday told CNBC the automaker’s pricing of its cars in China is “well-supported” after U.S. electric vehicle giant Tesla slashed prices. “We definitely see the demand being well but also we see the pricing levels we put into the market being well-supported in the market in… Continue reading Mercedes-Benz says car prices are ‘well-supported’ in China after Tesla cuts prices of its EVs

Ford reveals third-quarter net loss, weighed down by supply chain problems and Argo AI investment

2023 Ford F-150 Raptor R Ford DETROIT – Ford Motor recorded a net loss of $827 million during the third quarter, weighed down by supply chain problems and costs related to disbanding its autonomous vehicle unit Argo AI. Still, the automaker was able to narrowly beat Wall Street’s subdued expectations for the period and guided… Continue reading Ford reveals third-quarter net loss, weighed down by supply chain problems and Argo AI investment

South Korea, U.S. in ‘intense conversation’ over EV tax credits, ambassador says

Hyundai executives and government officials break ground on the automaker’s new “Metaplant America” in Bryan County, Georgia, on Tues., Oct. 25, 2022. CNBC | Michael Wayland SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to… Continue reading South Korea, U.S. in ‘intense conversation’ over EV tax credits, ambassador says