SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House on March 24, 2025. Win McNamee | Getty Images Tesla shares fell almost 6% on Monday, a day ahead of the electric vehicle company’s first-quarter earnings report, as analysts fret over “ongoing brand erosion.” The stock closed… Continue reading Tesla shares tumble ahead of first-quarter earnings report
Author: CNBC Online news
Read Hertz CEO’s letter to employees about Bill Ackman’s ‘significant’ stake in the rental car firm
A Hertz Tesla electric vehicle is displayed during the Hertz Corporation IPO at the Nasdaq Market site in Times Square in New York City, U.S., November 9, 2021. Brendan Mcdermid | Reuters Hertz Global CEO Gil West is “encouraged” and “energized” by prominent investor Bill Ackman taking a “significant” position in the post-bankrupt rental car… Continue reading Read Hertz CEO’s letter to employees about Bill Ackman’s ‘significant’ stake in the rental car firm
Hertz shares surge more than 50% after Bill Ackman takes big stake in the rental car firm
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023. Adam Jeffery | CNBC Bill Ackman’s Pershing Square took a sizable stake in Hertz, the rental-car company that exited from bankruptcy four years ago, sparking a big rally. Shares of Hertz surged 56% on Wednesday after a… Continue reading Hertz shares surge more than 50% after Bill Ackman takes big stake in the rental car firm
Nissan aims to ‘max out’ U.S. production plant amid Trump’s tariffs
FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, U.S., March 27, 2025. Mike Blake | Reuters Nissan Motor’s new Americas leader said the automaker is aiming to “max out” production at its largest American production plant amid President Donald Trump’s 25% auto tariffs. Christian Meunier, who started as chairman… Continue reading Nissan aims to ‘max out’ U.S. production plant amid Trump’s tariffs
Why Tesla’s turn to robots has divided Wall Street
In just a decade, Tesla grew its electric vehicle sales from 32,000 units to 1.8 million — making it, for most of that stretch, the world’s largest seller of pure EVs. But while it was aggressively ramping up EV production, the company was also changing its mission. In 2006, CEO Elon Musk said Tesla’s purpose… Continue reading Why Tesla’s turn to robots has divided Wall Street
Lyft to buy taxi app Free Now for $200 million to expand into Europe
Lyft logo is seen in this illustration taken June 27, 2022. Dado Ruvic | Reuters U.S. ride-hailing firm Lyft on Wednesday announced that it’s buying European taxi app Free Now in a 175 million euro ($199 million) deal. The company said that the acquisition — Lyft’s first in Europe — is expected to close in… Continue reading Lyft to buy taxi app Free Now for $200 million to expand into Europe
U.S. vehicle supply is falling amid tariff fear-buying
Brand new KIA cars are displayed on the sales lot at Serramonte Kia on March 26, 2025 in Colma, California. Justin Sullivan | Getty Images DETROIT – Supplies of new and used vehicles for sale in the U.S. are declining rapidly as consumers flock to purchase cars and trucks ahead of potential price increases due… Continue reading U.S. vehicle supply is falling amid tariff fear-buying
Auto stocks rise as Trump says he wants to ‘help’ some car companies
A cargo truck loaded with new pickups heads to U.S. at the Otay Commercial crossing in Tijuana, Baja California state, Mexico on March 27, 2025. Guillermo Arias | AFP | Getty Images DETROIT — Shares of automakers closed higher Monday after President Donald Trump said he is looking to “help some of the car companies”… Continue reading Auto stocks rise as Trump says he wants to ‘help’ some car companies
Trump’s ongoing 25% auto tariffs expected to cut sales by millions, cost $100 billion
Autoworkers at Nissan’s Smyrna Vehicle Assembly Plant in Tennessee, June 6, 2022. The plant employs more than 7,000 people and produces a variety of vehicles, including the Leaf EV and Rogue crossover. Michael Wayland / CNBC DETROIT — As President Donald Trump‘s 25% tariffs on imported vehicles remain in effect despite a pullback this week… Continue reading Trump’s ongoing 25% auto tariffs expected to cut sales by millions, cost $100 billion
GM cutting jobs, idling Canadian electric van plant due to ‘market demand’
Brightdrop EV600 van Source: Brightdrop DETROIT — General Motors is cutting production of its all-electric BrightDrop delivery vans at a plant in Canada and will idle the facility through much of 2025, the company confirmed Friday. The CAMI assembly plant in Ingersoll, Ontario, will be reduced from two shifts to one — eliminating 500 jobs… Continue reading GM cutting jobs, idling Canadian electric van plant due to ‘market demand’