The 2026 Cadillac Vistiq EV. Cadillac DETROIT — General Motors has hired Sterling Anderson, a former Tesla executive and co-founder of autonomous vehicle company Aurora Innovation, as its chief product officer. In the newly created position, Anderson will oversee the “end-to-end product lifecycle for both gas- and electric-powered vehicles, including hardware, software, services, and user… Continue reading GM hires ex-Tesla, Aurora exec as chief product officer
Author: CNBC Online news
Carvana’s record quarterly results top Wall Street expectations
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images DETROIT — Carvana’s first-quarter results easily topped Wall Street’s expectations as the company reported record sales driven by higher-than-expected industry demand amid fears of price increases due to automotive tariffs. Here’s how the company performed… Continue reading Carvana’s record quarterly results top Wall Street expectations
Used vehicle pricing barometer jumps to highest level since 2023 amid auto tariffs
A Ford mustang is seen at a used car dealership in Montebello, California on May 5, 2025. Frederic J. Brown | AFP | Getty Images DETROIT — A closely watched barometer for used vehicle pricing jumped last month to its highest level since October 2023 as consumers rushed purchases amid fears of price hikes due… Continue reading Used vehicle pricing barometer jumps to highest level since 2023 amid auto tariffs
Uber misses revenue expectations with trips up 18% over last year
watch now Uber reported first-quarter results Wednesday that beat analysts’ expectations for earnings, but fell shy of anticipated revenue growth for the quarter. The company’s shares closed down 2.5%. Here’s how Uber did versus analysts’ estimates compiled by LSEG: Earnings per share: 83 cents vs. 50 cents expected. Revenue: $11.53 billion vs. $11.62 billion expected. Revenue at the ride-hailing… Continue reading Uber misses revenue expectations with trips up 18% over last year
SpaceX gets FAA permission for fivefold increase in Starship launches from Texas
The Super Heavy booster returns to its launch pad after the SpaceX Starship continued to space after it was launched on its eighth test at the company’s Boca Chica launch pad in Brownsville, Texas, U.S., March 6, 2025. Joe Skipper | Reuters SpaceX has been granted permission by the Federal Aviation Administration to launch and… Continue reading SpaceX gets FAA permission for fivefold increase in Starship launches from Texas
Rivian cuts 2025 delivery target, ups expected spending amid tariff pressures
Workers assemble second-generation R1 vehicles at electric automaker Rivian’s manufacturing facility in Normal, Illinois, on June 21, 2024. Joel Angel Juarez | Reuters Rivian Automotive beat Wall Street’s expectations for the first quarter and confirmed its 2025 earnings targets, but negatively adjusted its 2025 targets for vehicle deliveries and capital spending amid President Donald Trump‘s… Continue reading Rivian cuts 2025 delivery target, ups expected spending amid tariff pressures
Luxury carmaker Ferrari warns of U.S. tariff risks after 17% jump in first-quarter profit
The Ferrari brand logo, the coat of arms with the lettering and a rising horse (cavallino rampante), can be seen on the rim of a vehicle from the sports car manufacturer in Munich (Bavaria) on April 6, 2025. Picture Alliance | Picture Alliance | Getty Images Luxury carmaker Ferrari on Tuesday reported a significant upswing… Continue reading Luxury carmaker Ferrari warns of U.S. tariff risks after 17% jump in first-quarter profit
Here are the SpaceX employees who were elected to run Musk’s new company town of Starbase, Texas
The SpaceX Starship sits on a launch pad at Starbase near Boca Chica, Texas, on October 12, 2024, ahead of the Starship Flight 5 test. The test will involve the return of Starship’s Super Heavy Booster to the launch site. Sergio Flores | Afp | Getty Images Over the weekend, Elon Musk got his new… Continue reading Here are the SpaceX employees who were elected to run Musk’s new company town of Starbase, Texas
Waymo plans to double robotaxi production at Arizona plant by end of 2026
A Waymo self-driving vehicle seen in Phoenix, Arizona, on Feb. 27, 2025. Leslie Josephs | CNBC Alphabet-owned Waymo and the auto manufacturing giant Magna International plan to double robotaxi production at their new plant in Mesa, Arizona, by the end of 2026, the companies announced Monday. The “Waymo Driver Integration Plant,” a 239,000 square foot facility… Continue reading Waymo plans to double robotaxi production at Arizona plant by end of 2026
Ford suspends 2025 guidance amid $2.5 billion tariff impact
The Ford display is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC DETROIT — Ford Motor beat Wall Street’s first-quarter expectations, but suspended its 2025 financial guidance amid an expected $2.5 billion impact this year from President Donald Trump‘s tariffs. The Detroit automaker said it expects to offset… Continue reading Ford suspends 2025 guidance amid $2.5 billion tariff impact