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Author: CNBC Online news

Ford reports big jump in July sales, including for trucks and electric vehicles

Ford said its new vehicle sales last month increased 36.6% from a year ago, compared with industrywide sales that were estimated to have declined by 10.5%. Go to Source

Published August 3, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Electric vehicles, Ford, Production/Sales News

Average monthly payments for car leases rose to $594 in July amid ‘an absence of discounts’ from manufacturers, dealers

The average purchase incentive in July was $894, a marked drop from $2,000 a year ago, according to a new estimate. Go to Source

Published August 3, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Production/Sales News

These are the companies racing to dominate the fragmented auto dealership industry

Public auto dealership groups — AutoNation, Lithia Motors, Group1, Sonic Automotive, Penske, and Asbury — see huge profits to be made in the fragmented market. Go to Source

Published August 2, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Production/Sales News

Ferrari boosts full-year guidance after a record second quarter

Ferrari increased its full-year guidance after a quarter that set records for revenue, profit and new orders. Go to Source

Published August 2, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged FCA, Ferrari, Financial Results

Chinese e-commerce giant Alibaba teams up with Tesla rival Xpeng on tech for driverless cars

For Xpeng, the move marks its ambitions to pull ahead in China’s fiercely competitive electric vehicle market and attempt to challenge giants Tesla and BYD. Go to Source

Published August 2, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Autonomous, Electric vehicles, Mobility, Tesla

Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors

Innoviz has struck a deal to supply lidar units to Volkswagen for millions of vehicles. The deal could be worth $4 billion over eight years, it said. Go to Source

Published August 2, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged VW

Ford stock notches its best month since the Great Recession – and keeps rising

The stock advanced 32% last month, marking the best monthly percentage gain for Ford’s shares since a 127.4% surge in April 2009. Go to Source

Published August 1, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Ford

Nikola to acquire battery pack supplier Romeo Power in $144 million deal

Nikola will acquire Romeo Power, a key supplier of battery packs for its trucks, in a $144 million all-stock transaction. Go to Source

Published August 1, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Electric vehicles, M and A

Shares of Chinese EV makers Nio and Li Auto rise as July car deliveries jump

Shares of Chinese electric vehicle startups Nio and Li Auto jumped in the U.S. Monday. Go to Source

Published August 1, 2022
Categorized as Automotive, News Site, US Motoring Press

Ford is adding an off-road package to its hot-selling Maverick compact pickup

Buyers of Ford’s smallest pickup will be able to opt for a $3,000 Tremor off-road package starting this fall. Go to Source

Published August 1, 2022
Categorized as Automotive, News Site, US Motoring Press Tagged Ford

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