Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021. Andrew Kelly | Reuters Shares of electric vehicle maker Lucid Group were down more… Continue reading After abrupt departure of Lucid CEO, here are the EV maker’s top priorities
Author: CNBC Online news
GM raises quarterly dividend, initiates $6 billion stock buyback
watch now DETROIT – General Motors is raising its quarterly dividend and initiating a new $6 billion share repurchase program as the company attempts to reward investors amid slowing industry sales and profits. GM announced Wednesday it is increasing its quarterly dividend by 25% to 15 cents per share — matching that of crosstown rival… Continue reading GM raises quarterly dividend, initiates $6 billion stock buyback
Crisis-stricken Stellantis sees revenue growth in 2025 after 70% drop in full-year profit
Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy. Stefano Guidi | Getty Images News | Getty Images Crisis-stricken auto giant Stellantis on Wednesday said it sees return to revenue growth this year after a steep drop in 2024 earnings. The mutlinational conglomerate, which… Continue reading Crisis-stricken Stellantis sees revenue growth in 2025 after 70% drop in full-year profit
Lucid CEO steps down; EV maker plans to more than double production in 2025
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024. Justin Sullivan | Getty Images Electric vehicle maker Lucid Group on Tuesday said CEO Peter Rawlinson is stepping down as the company expects to more than double vehicle production this year to 20,000 units.… Continue reading Lucid CEO steps down; EV maker plans to more than double production in 2025
Tesla’s market cap sinks below $1 trillion as stock slumps more than 8%
Elon Musk, CEO of Tesla Inc., in the Oval Office of the White House in Washington, D.C., on Feb. 11, 2025. Aaron Schwartz | Bloomberg | Getty Images Tesla’s postelection pop has almost disappeared. Shares of the electric vehicle maker plunged more than 8% on Tuesday, pushing the company’s market cap below $1 trillion and… Continue reading Tesla’s market cap sinks below $1 trillion as stock slumps more than 8%
Here’s why Trump tariffs may raise your car insurance premiums
Nitat Termmee | Moment | Getty Images The Trump administration’s tariff policies may raise auto insurance premiums for motorists, according to a new Insurify analysis. This at a time when drivers continue to see costs soar amid pandemic-era inflation. A 25% tariff on imports from Canada and Mexico — which may take effect as soon… Continue reading Here’s why Trump tariffs may raise your car insurance premiums
Tesla recalls more than 375,000 vehicles in U.S. due to failing power-assisted steering systems
Tesla models Y and 3 are displayed at a Tesla dealership in Corte Madera, California, on Dec. 20, 2024. Justin Sullivan | Getty Images Tesla is voluntarily recalling 376,241vehicles in the U.S. to correct an issue with failing power-assisted steering systems, according to records posted to the website of the U.S. National Highway Traffic Safety… Continue reading Tesla recalls more than 375,000 vehicles in U.S. due to failing power-assisted steering systems
Rivian beats Wall Street’s fourth-quarter expectations, but expects lower deliveries in 2025
2025 Rivian R1S Rivian Rivian Automotive beat Wall Street’s fourth-quarter earnings expectations and achieved its first gross quarterly profit – a target closely watched by investors – but is forecasting lower sales in 2025. The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of… Continue reading Rivian beats Wall Street’s fourth-quarter expectations, but expects lower deliveries in 2025
Carvana expects another ‘strong’ year after topping fourth-quarter expectations
A Carvana sign and signature vending machine in Tempe, Arizona. Michael Wayland | CNBC Carvana topped Wall Street’s top- and bottom-line expectations for the fourth quarter, while guiding for another “strong” year in 2025. Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail… Continue reading Carvana expects another ‘strong’ year after topping fourth-quarter expectations
Embattled EV maker Nikola files for Chapter 11 bankruptcy protection
U.S. Nikola’s logo is pictured at an event held to present CNH’s new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, on Dec. 3, 2019. Massimo Pinca | Reuters DETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail… Continue reading Embattled EV maker Nikola files for Chapter 11 bankruptcy protection