GM is increasing the price of its EV Hummer by $6,250. Go to Source
Author: CNBC Online news
Cost to finance a new car hits a record $656 per month — and auto shoppers could pay even more with latest Fed rate hike
As interest rates head higher and auto prices remain elevated, monthly payments are expected to continue squeezing consumers’ budgets. Go to Source
GM investing $81M to hand build ultra-exclusive Cadillac Celestiq electric cars
The decision marks the first time GM will build a vehicle for commercial sales at its massive tech campus in Warren, Michigan. Go to Source
Ford CFO says inflation has erased Mustang Mach-E profits, but isn’t hurting demand for new vehicles
Ford Motor’s CFO said Wednesday that the company isn’t yet seeing consumer demand for new vehicles drop off. Go to Source
Chinese Tesla rival Nio launches new electric SUV as competition heats up
Nio shares rose on Wednesday after the company unveiled the ES7 electric SUV which starts at 468,000 Chinese yuan ($69,693). Go to Source
U.S. safety agency says Tesla accounts for most driver-assist crashes, but warns data lacks context
Federal safety officials stressed that the data is not meant to portray whether one advanced driver-assist system is safer than another. Go to Source
Ford issues stop-sale of electric Mustang Mach-E crossovers due to potential safety defect
Ford says the issue with the Mustang Mach-E crossovers could cause the vehicles to become immobile. Go to Source
Most factories in Shanghai resume work as Covid controls ease, ministry says
Factories in two of economic hubs have mostly resumed work as the impact of Covid subsides, said China’s Ministry of Industry and Information Technology. Go to Source
BYD is selling so many electric cars it’s become one of the top three automakers in China
BYD’s growing sales for various models have helped the company climb into the ranks of the top three brands in China by passenger car sales so far this year. Go to Source
GM’s stock closes below IPO price for first time since October 2020
GM’s stock closing below the $33 a share IPO price from November 2010 occurred hours after the company’s annual shareholder meeting. Go to Source