A worker performs a final check on new Volkswagen ID.3 electric cars at the Volkswagen plant on May 14, 2025 in Dresden, Germany. Sean Gallup | Getty Images News | Getty Images Germany’s Volkswagen on Friday lowered its full-year guidance and reported a sharp drop in second-quarter profit, as the auto giant navigates the disruptive impact of… Continue reading Volkswagen cuts guidance after taking $1.5 billion hit from U.S. tariffs in first half
Author: CNBC Online news
Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions
Thiago Prudencio | LightRocket | Getty Images Tesla missed on the top and bottom lines in the second quarter, but another miss was buried in its investor deck. The company’s digital assets are currently valued at $1.24 billion. That’s up substantially from $722 million a year ago. But anyone who’s been following the crypto market… Continue reading Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions
Trump Commerce Secretary Lutnick says U.S. auto CEOs are ‘cool with’ higher tariffs than Japan
watch now Commerce Secretary Howard Lutnick said Thursday that American auto CEOs told him they are “cool with” President Donald Trump‘s new trade deal, which could put lower tariffs on cars imported from Japan than on cars made by U.S. companies in Canada and Mexico. Lutnick brushed off complaints from a group representing General Motors,… Continue reading Trump Commerce Secretary Lutnick says U.S. auto CEOs are ‘cool with’ higher tariffs than Japan
Tesla’s stock plunges 8% after another weak quarter for auto sales
Elon Musk, during a news conference with President Donald Trump, inside the Oval Office at the White House in Washington on May 30, 2025. Tom Brenner | The Washington Post | Getty Images Tesla shares fell 8% Thursday after the company reported a second straight quarter of declining auto sales, and CEO Elon Musk told… Continue reading Tesla’s stock plunges 8% after another weak quarter for auto sales
Tesla loses market share in Europe for sixth straight month as competition grows
Tesla car is seen in Krakow, Poland on June 11, 2025. Nurphoto | Nurphoto | Getty Images U.S. electric vehicle maker Tesla lost market share in Europe for the sixth straight month in June, according to the European Automobile Manufacturers Association, or ACEA, amid a broader regional dip in new car sales. Data published Thursday… Continue reading Tesla loses market share in Europe for sixth straight month as competition grows
Tesla reports sales miss as auto revenue drops for second straight quarter
Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 16% decline in automotive revenue as sales fell for a second straight quarter and again trailed analysts’ estimates. Here’s how the company did,… Continue reading Tesla reports sales miss as auto revenue drops for second straight quarter
Uber will let women drivers and riders request to avoid being paired with men starting next month
Nisian Hughes | Getty Images Uber announced a new feature Wednesday that pairs women drivers and riders, in its latest move to address safety on the ride-hailing platform. The new tool, which the platform will begin piloting next month in the U.S., allows women passengers to match with women drivers when booking or pre-booking rides,… Continue reading Uber will let women drivers and riders request to avoid being paired with men starting next month
Germany’s auto giants rally as U.S.-Japan trade deal raises hopes of a tariff breakthrough
Vehicles are assembled on a line at the BMW plant in Leipzig. Picture Alliance | Picture Alliance | Getty Images Shares of Europe’s top carmakers jumped on Wednesday after the U.S. and Japan’s blockbuster trade agreement raised hopes of a tariff breakthrough for other major exporters. In a post on social media platform Truth Social,… Continue reading Germany’s auto giants rally as U.S.-Japan trade deal raises hopes of a tariff breakthrough
Japan auto stocks soar on report of lower tariffs — Toyota jumps over 15%
Recently imported brand new unregistered Honda cars are parked in a storage yard at the Port of Bristol on January 15, 2025 near Bristol, England. Anna Barclay | Getty Images Shares of Japanese automakers surged after Japanese Prime Minister Shigeru Ishiba said that U.S. auto tariffs were lowered to 15% from the current 25%, Reuters… Continue reading Japan auto stocks soar on report of lower tariffs — Toyota jumps over 15%
GM says EVs are its ‘North Star’ as legacy automaker chases Tesla
The Chevrolet display is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC While Tesla remains the No. 1 electric vehicle manufacturer in the U.S. by a wide margin, General Motors said on Tuesday it has secured the No. 2 position and believes it has an “inherent advantage”… Continue reading GM says EVs are its ‘North Star’ as legacy automaker chases Tesla