CEO of auto giant Stellantis Carlos Tavares speaks to journalists during a joint media event by Stellantis and Leapmotor in Hangzhou, in eastern China’s Zhejiang province on May 14, 2024. – | Afp | Getty Images DETROIT — Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as… Continue reading Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs
Author: CNBC Online news
Self-driving tech company WeRide accelerates global expansion as transportation industry adopts AI
BEIJING, CHINA – JULY 11: People take photos of WeRide Robobus, a fully-driverless shuttle capable of SAE Level 4 autonomous driving, at Beijing High-level Autonomous Driving Demonstration Area on July 11, 2024 in Beijing, China. (Photo by Jia Tianyong/China News Service/VCG via Getty Images) China News Service | China News Service | Getty Images Self-driving… Continue reading Self-driving tech company WeRide accelerates global expansion as transportation industry adopts AI
Ford, GM, Stellantis face a daunting second half of 2024
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images DETROIT – The last time shares of Ford Motor dropped by more than 18% in a day, as they did last week, the U.S. automotive industry was on… Continue reading Ford, GM, Stellantis face a daunting second half of 2024
GM reveals new Chevy Corvette with 1,000-plus horsepower and record top speed
2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package. DETROIT — General Motors’ newest Chevrolet Corvette will be the most powerful version of the American sports car ever produced — and it’s not even close. The Detroit automaker said Thursday the 2025 Chevy Corvette ZR1 will be powered by a twin-turbocharged, 5.5-liter, V8 engine capable… Continue reading GM reveals new Chevy Corvette with 1,000-plus horsepower and record top speed
Many early-adopting EV owners around the world want to gas up again
Ford Mustang Mach E electric vehicles are offered for sale at a dealership on June 05, 2024 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Car buyers who were among the first to make the EV switch are far from wholly converted. Nearly 30% of electric vehicle owners globally are likely… Continue reading Many early-adopting EV owners around the world want to gas up again
Ford shares post worst day since 2008, leading autos rout after company’s disappointing earnings
A Ford Bronco on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor is leading a decline in major U.S. automotive stocks this week amid disappointing results and investor skepticism around future performance. Shares of Ford closed Thursday at $11.16, down by 18.4% —… Continue reading Ford shares post worst day since 2008, leading autos rout after company’s disappointing earnings
Jeep, Dodge maker Stellantis reports 48% drop in first-half net profit on weak U.S. sales
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Auto giant Stellantis on Thursday reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps and lower market share in North America. The company,… Continue reading Jeep, Dodge maker Stellantis reports 48% drop in first-half net profit on weak U.S. sales
Chinese EV startups are spending more on research than Tesla is
Nio’s second factory in the city of Hefei has around 2,000 human workers and 756 robots. CNBC | Evelyn Cheng BEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla, according to CNBC analysis of the four automakers’ first-quarter earnings. It’s a strategy for survival in… Continue reading Chinese EV startups are spending more on research than Tesla is
We’re slashing our rating on Ford after the automaker’s old issues come back to haunt it
Ford Motor on Wednesday reported a disappointing second quarter, missing earnings expectations by a wide margin as higher warranty costs ate into profits. We’re downgrading the automaker and sending its stock back to the penalty box in response to the reemergence of these quality problems. Automotive revenue increased 6% year over year, to $47.8 billion,… Continue reading We’re slashing our rating on Ford after the automaker’s old issues come back to haunt it
Ford shares tumble 11% after massive earnings miss
The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor came in short of Wall Street’s second-quarter earnings expectations while beating on revenue, due to warranty costs that have plagued the automaker for several years now. The automaker increased its full-year target for… Continue reading Ford shares tumble 11% after massive earnings miss