Author: CNBC Online news

More car buyers pay at least $1,000 a month for their loans as high prices, rate hikes throw ‘a one-two punch’

Skynesher | E+ | Getty Images A growing share of car buyers are signing up for monthly loan payments of $1,000 or more amid rising interest rates and elevated auto prices, new research shows. Overall, 14.3% of consumers who financed a new vehicle in the third quarter committed to payments at or above that amount,… Continue reading More car buyers pay at least $1,000 a month for their loans as high prices, rate hikes throw ‘a one-two punch’

Rivian needs to sharply ramp up EV production to meet 2022 targets — Wall Street is betting it can

A Rivian R1T truck body lowered onto a chassis in the assembly line at the Rivian electric vehicle plant in Normal, Illinois. Georgia is giving the company $1.5 billion in subsidies to bring a new $5 billion EV plant to the southern state. Brian Cassella | Tribune News Service | Getty Images Electric vehicle startup… Continue reading Rivian needs to sharply ramp up EV production to meet 2022 targets — Wall Street is betting it can

Ford hikes starting price of its electric F-150 Lightning pickup for second time in less than two months

Ford F-150 Lightning pickup trucks are shown at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.  Bill Pugliano | Getty Images DETROIT — Ford Motor is increasing the starting price of its electric F-150 Lightning pickup by $5,000 for the 2023 model year, citing rising costs and supply chain issues.… Continue reading Ford hikes starting price of its electric F-150 Lightning pickup for second time in less than two months

Ford to end production of $500,000 GT supercar with special edition

2022 Ford GT LM Edition Ford DETROIT — Ford Motor will end production of its $500,000 GT supercar later this year with a special edition model paying tribute to the vehicle’s racing heritage. The Detroit automaker on Wednesday said the 2022 Ford GT LM Edition will be the last model of the third-generation car, which… Continue reading Ford to end production of $500,000 GT supercar with special edition

3 of our stocks, including Ford, are in the news. Here’s the Club’s take on the headlines

Three Club holdings — Ford (F), Disney (DIS) and Starbucks (SBUX) — were in the news Tuesday. Here’s our take on the headlines. The news: Ford announced a year-over-year sales decline of 8.9% in September. But with numbers from the final month of the third quarter in, the company’s sales on a quarterly basis rose… Continue reading 3 of our stocks, including Ford, are in the news. Here’s the Club’s take on the headlines

Ford’s sales up 16% in third quarter, despite September decline

Ford F-150 Lightning at the 2022 New York Auto Show. Scott Mlyn | CNBC DETROIT – Ford Motor on Tuesday said its sales in the third quarter increased about 16% compared with a year earlier, despite a larger-than-expected decline in September. The Detroit automaker, which reports sales monthly, said it sold 142,644 vehicles last month,… Continue reading Ford’s sales up 16% in third quarter, despite September decline

GM adds former Lyft and Tesla executive Jon McNeill as board member

A General Motors sign is seen during an event on January 25, 2022 in Lansing, Michigan. – General Motors will create 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity. Jeff Kowalsky | AFP | Getty Images DETROIT – General Motors on Tuesday said it is adding Jon… Continue reading GM adds former Lyft and Tesla executive Jon McNeill as board member