An electric vehicle of the model Y is pictured during the start of the production at Tesla’s “Gigafactory” on March 22, 2022 in Gruenheide, southeast of Berlin. – US electric car pioneer Tesla received the go-ahead for its “gigafactory” in Germany on March 4, 2022, paving the way for production to begin shortly after an… Continue reading Tesla short sellers lost $3.5 billion in two days of trading after deliveries report
Author: CNBC Online news
The five secrets to Ferrari’s success as a luxury brand
watch now In the world of luxury, Hermès is arguably the gold standard. Its sales are growing double digits even as other luxury companies post declines or dramatically slower growth. Wealthy customers lucky enough to be anointed as Birkin-bag worthy can purchase a Birkin 25 for about $11,000 and flip it the same day for more… Continue reading The five secrets to Ferrari’s success as a luxury brand
China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe
Getty Images The European Union on Thursday confirmed its decision to hike tariffs on electric vehicles imported from China — with one automaker issuing fresh warnings that it may have to raise prices as a result. The European Commission, the executive arm of the European Union, announced plans for such levies in June after concluding… Continue reading China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe
Ford sales edge 1% higher in the second quarter, led by trucks
Ford Mustang Mach E electric vehicles are offered for sale at a dealership in Chicago, Illinois, on June 5, 2024. Scott Olson | Getty Images Ford sales rose 1% during the second quarter over the year-earlier period, led by a 5% gain in truck sales, the automaker said Wednesday. Ford truck sales, which include pickups… Continue reading Ford sales edge 1% higher in the second quarter, led by trucks
Tesla stock rises again after better-than-expected deliveries report
A row of Tesla superchargers is shown at a supercharging location in Los Angeles on June 5, 2024. Mike Blake | Reuters Tesla shares rallied for a third straight day on Wednesday, bringing their gains for the week to 23% and almost wiping out their 2024 loss. The run follows Tesla’s second-quarter vehicle production and deliveries… Continue reading Tesla stock rises again after better-than-expected deliveries report
China’s BYD is set to take Tesla’s crown as the world’s No. 1 producer of battery electric vehicles
BYD Seal U electric car at the IAA Mobility 2023 international motor show on September 6, 2023 in Munich, Germany. Leonhard Simon | Getty Images News | Getty Images Chinese electric vehicle maker BYD is on track to overtake Tesla in battery electric vehicle sales this year, with its BEV market share expected to surge,… Continue reading China’s BYD is set to take Tesla’s crown as the world’s No. 1 producer of battery electric vehicles
GM reports best U.S. quarterly sales since 2020
Vehicles are offered for sale at a GM dealership in Lincolnwood, Illinois, on June 20, 2024. Scott Olson | Getty Images DETROIT — General Motors reported its best quarterly sales in more than three years, including notable increases in full-size pickup trucks and all-electric vehicles. The Detroit automaker on Tuesday reported sales of 696,086 for… Continue reading GM reports best U.S. quarterly sales since 2020
Tesla shares soar 10% on better-than-expected Q2 deliveries report
watch now Tesla shares jumped 10% on Tuesday after the company posted second-quarter vehicle production and deliveries numbers that beat analyst expectations. Here are the key numbers: Total deliveries Q2 2024: 443,956 vehicles Total production Q2 2024: 410,831 vehicles Analysts expected Tesla deliveries to hit 439,000 in the three months ending June 30, according to a consensus of… Continue reading Tesla shares soar 10% on better-than-expected Q2 deliveries report
Chinese EV companies Zeekr and Nio report record deliveries in June
Geely’s SEA architecture for cars allows vehicles of different sizes to be manufactured at the same factory. CNBC | Evelyn Cheng BEIJING — Chinese electric car company Zeekr said Monday it delivered a record number of vehicles in June, making its deliveries for the first half of the year the largest among U.S.-listed Chinese companies… Continue reading Chinese EV companies Zeekr and Nio report record deliveries in June
An alphabet soup of ‘electrified’ vehicles awaits new car buyers as EV sales stall
GM launched ‘EV Live,’ a free online platform that connects electric vehicle owners or consumers who have questions about zero-emissions cars and trucks with an expert who can answer them. Courtesy: GM DETROIT — Purchasing a vehicle has never been that easy. But shoppers entering traditional dealer showrooms for the foreseeable future may have a… Continue reading An alphabet soup of ‘electrified’ vehicles awaits new car buyers as EV sales stall