At the 2022 Tesla shareholders meeting, CEO Elon Musk suggested that peak inflation is past, pointing to prices it’s paying for commodities. Go to Source
Author: CNBC Online news
Lordstown Motors expects limited production and deliveries of electric pickup in 2022
Lordstown said production of its Endurance electric pickup will be slow and largely reliant on capital availability. Go to Source
Nikola’s revenue tops expectations on delivery of 48 electric trucks
Nikola’s second-quarter revenue beat Wall Street’s expectations as it shipped 48 trucks and confirmed its full-year guidance Go to Source
Hyundai to export heavy-duty hydrogen electric trucks to Germany
The hydrogen electric trucks sent to Germany will bolster the XCIENT Fuel Cell’s presence in Europe. Go to Source
Fisker on track to start production of its electric Ocean SUV this year, now has 56,000 reservations
Fisker’s second-quarter loss was narrower than expected as it confirmed that production of the Ocean is still on track and reservations are rising Go to Source
EV maker Lucid again cuts production targets as logistics challenges cripple output
Supply chain and logistics challenges mean demand for Lucid’s EVs far outpaces its output. Go to Source
3 takeaways from the Investing Club’s ‘Morning Meeting’ on Wednesday
Catch the Club’s “Morning Meeting” livestream at 10:20 a.m. ET every weekday. Go to Source
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
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
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