Tesla’s stock fell 3.3 percent Monday after it was reported that the electric car company asked suppliers for a refund of a portion of its payment.
Author: CNBC Online news
Waymo strikes deals with Walmart, others to boost access to self-driving cars
Brendan McDermid | Reuters Waymo unveils a self-driving Chrysler Pacifica minivan in Detroit, Michigan, U.S. on January 8, 2017. Waymo, the Alphabet company that spun out of Google’s former self-driving car division, is partnering with some of the country’s largest companies to expand how many people have access to its self-driving vehicles.
Wednesday was a bad day for Detroit’s automakers
Steel and aluminum prices have risen since the Trump administration imposed tariffs on the two key raw materials for the car manufacturing, steel and aluminum. Those costs could run even higher as President Donald Trump ratchets up his global trade war. Trump said Wednesday that he was working with European Commission President Jean-Claude Juncker toward… Continue reading Wednesday was a bad day for Detroit’s automakers
The long life of the best-selling Ford Mustang
European auto stocks soar after Trump-Juncker ‘ceasefire’
Car stocks got a boost Thursday following the meeting between the U.S. and European Union that earned automakers in the region a reprieve from higher import tariffs.
Auto retailer beats on earnings, thanks to higher used-car sales
Group 1 Automotive‘s earnings rose to new records thanks to an increase in sales of used cars, Earl Hesterberg, the firm’s president and CEO, told CNBC on Thursday.
European stocks close lower on earnings; Heineken shares drop more than 6%
The pan-European Stoxx 600 closed provisionally 0.3 percent lower with most sectors in the red. Basic resources stocks were under pressure as trade concerns lingered. Europe’s tech sector was also on the back foot, down 1.62 percent amid concerns big technology companies are struggling to deliver on earnings. Enterprise software firm Sage was the biggest… Continue reading European stocks close lower on earnings; Heineken shares
drop more than 6%
UBS predicts Tesla shares will drop 30% in 12 months, says company may need to seek outside capital
Tesla shares will fall significantly because the company will not be profitable in 2019, according to UBS.
Tesla’s limited-edition surfboard sells out in just one day
Tesla has been treading dangerous waters recently, with CEO Elon Musk asking for refunds from some suppliers to help the company turn a profit. Now, to help stay afloat, Tesla turned to new merchandise: limited-edition surfboards. Tesla offered the boards at $1,500 a pop for customers starting Saturday. But with only 200 surfboards available, the… Continue reading Tesla’s limited-edition surfboard sells out in just one
day
Tesla shares drop after carmaker reportedly asks its suppliers for refunds to reach profitability
Tesla is slated to report its June quarter earnings results on Aug. 1. In May, Tesla said it expects positive GAAP net income in its third and fourth quarters. The latest report calls into question the state of Telsa’s financial position. The company lost nearly $2 billion last year and burned about $3.4 billion in… Continue reading Tesla shares drop after carmaker reportedly asks its
suppliers for refunds to reach profitability