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.
Author: CNBC Online news
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
Fiat Chrysler loses Sergio Marchionne with bumpy road ahead
Fiat Chrysler Automobiles was facing an uncertain future even before the man who led its unlikely turnaround became gravely ill. After he became incapacitated from complications with a shoulder surgery, the company was forced to hastily replace Sergio Marchionne as chief executive over the weekend. Fiat Chrysler now must find a way to deal with… Continue reading Fiat Chrysler loses Sergio Marchionne with bumpy road
ahead
Fiat Chrysler’s Europe head resigns after Marchionne’s replacement named
Fiat Chrysler’s European chief is leaving the company after it promoted Mike Manley, head of the Jeep brand, to CEO.
General Motors jumps into peer-to-peer car sharing
Helen H. Richardson | The Denver Post | Getty Images A Chevy Volt and a GMC Acadia, parked on Little Raven Court, are available for car share through a new app from Maven in Denver. Looking to make money renting out your car or truck?
Auto industry legend CEO Sergio Marchionne dies at age 66
Former Fiat Chrysler (FCA) CEO Sergio Marchionne, who played a pivotal role in two corporate turnarounds, has died at the age of 66.