The cuts come a day after Ford significantly missed Wall Street’s earnings expectations due to supply chain issues, sending shares to tumble 9.7% on Friday. Go to Source
Author: CNBC Online news
Behind GM, Ford’s aggressive new electric vehicle strategy is old-time financing: Cash
Detroit’s automakers have brought a surprisingly conservative financial strategy to making them America’s next electric vehicles of choice. Go to Source
Elon Musk sells another $1 billion in Tesla shares, nearing 10% target
Tesla CEO Elon Musk sold another 934,090 shares, or about $1.02 billion worth of his holdings in the electric car and solar business. Go to Source
Looking for a new vehicle? Don’t expect many, if any, year-end or holiday deals
Instead of car buyers flocking to dealer lots to take advantage of holiday and year-end deals, many dealerships are nearly empty of both vehicles and customers. Go to Source
Chinese electric car start-up Nio reveals a new sedan, augmented reality glasses
Chinese electric car company Nio revealed Saturday a new sedan and custom augmented reality glasses that reduce the need for in-car screens. Go to Source
Abu Dhabi GP: Max Verstappen takes F1 title from Lewis Hamilton on final lap after late controversy
Verstappen becomes the first Dutchman to win the title and the second for Red Bull after Sebastian Vettel. Go to Source
Chinese electric car start-up Hycan claims funding of more than $300 million is on the way
Chinese electric car start-up Hycan claims it’s on the verge of a large fundraise as investors pour more money into a hot sector. Go to Source
Ford attracts younger and more female buyers with new $20,000 Maverick pickup
Ford says the 2022 Maverick – about the length of a Toyota full-size sedan but far cheaper – is already succeeding in attracting new, younger and female buyers. Go to Source
Shares of EV start-up Lordstown Motors surge on reported deal with Foxconn to sell Ohio plant
Lordstown’s stock was up Thursday by as much as 21% following reports it’s near a deal to sell its large Ohio factory to iPhone maker Foxconn. Go to Source
GM doubles chip shortage impact to 200,000 vehicles in second half of year, maintains guidance
Despite the increased impact from the global chip shortage, GM CFO Paul Jacobson said the company is maintaining its guidance for 2021. Go to Source