Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the first quarter. Here is how the company performed in the… Continue reading Carvana shares spike 30% as used car retailer posts record first quarter
Author: CNBC Online news
To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education
Ford Mustang on display at the NY Auto Show, April 6, 2023. Scott Mlyn | CNBC DEARBORN, Mich. — Ford Motor is launching a new training program for more than 3,000 U.S. franchised dealers on Wednesday that uses artificial intelligence for employee coaching evaluations and emulates Netflix and YouTube interfaces more than the automaker’s traditional… Continue reading To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education
Luxury carmaker Aston Martin slumps 6% as losses nearly double
A sign is pictured above the entrance to the Aston Martin luxury car dealership on Park Lane in central London on April 11, 2024. Benjamin Cremel | Afp | Getty Images LONDON — Luxury carmaker Aston Martin on Wednesday reported widening losses in the first quarter, as the company stopped production of its core models… Continue reading Luxury carmaker Aston Martin slumps 6% as losses nearly double
Tesla shares drop nearly 6% after Musk cuts about 500 jobs in Supercharger team
Tesla Supercharger stations near a Circle K gas station in Austin, Texas, on April 23, 2024. Brandon Bell | Getty Images Tesla shares fell nearly 6% on Tuesday following news that CEO Elon Musk was pressing ahead with more job cuts at Tesla, impacting an estimated 500 employees in its Supercharger team. The stock closed… Continue reading Tesla shares drop nearly 6% after Musk cuts about 500 jobs in Supercharger team
Jeep maker Stellantis down 10% on sharp fall in revenue as it prepares for slew of new models
Attendees view vehicles at the Jeep booth during opening day of the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 7, 2023. Stephanie Keith | Bloomberg | Getty Images Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects,… Continue reading Jeep maker Stellantis down 10% on sharp fall in revenue as it prepares for slew of new models
Musk makes surprise visit to Beijing as Tesla’s China-made cars pass data security rules
watch now BEIJING — Local Chinese authorities have removed restrictions on Tesla cars after the company’s China-made vehicles passed the country’s data security requirements, the automaker said Sunday. The breakthrough came as Tesla CEO Elon Musk arrived in Beijing for an unexpected meeting with Chinese Premier Li Qiang, amid the first major auto show in… Continue reading Musk makes surprise visit to Beijing as Tesla’s China-made cars pass data security rules
Federal regulator finds Tesla Autopilot has ‘critical safety gap’ linked to hundreds of collisions
A Tesla Model X burns after crashing on U.S. Highway 101 in Mountain View, California, U.S. on March 23, 2018. S. Engleman | Via Reuters Federal authorities say a “critical safety gap” in Tesla‘s Autopilot system contributed to at least 467 collisions, 13 resulting in fatalities and “many others” resulting in serious injuries. The findings… Continue reading Federal regulator finds Tesla Autopilot has ‘critical safety gap’ linked to hundreds of collisions
Chinese EV start-ups Nio and Xpeng turn to the mass market for growth
Nio Founder and CEO William Li poses outside of the New York Stock Exchange to celebrate his company’s IPO. Photo: NYSE BEIJING — Chinese electric car start-ups Nio and Xpeng are turning to a lower-priced segment of the market with plans to release newly branded cars this year. Nio’s first such mass market car will… Continue reading Chinese EV start-ups Nio and Xpeng turn to the mass market for growth
Former Tesla SVP Drew Baglino is selling $181.5 million worth of stock, SEC filing says
In an aerial view, brand new Tesla cars sit parked in a lot at the Tesla Fremont Factory on April 24, 2024 in Fremont, California. Justin Sullivan | Getty Images Former Tesla executive Drew Baglino, who announced his resignation earlier this month, sold shares in the electric vehicle company worth around $181.5 million, according to… Continue reading Former Tesla SVP Drew Baglino is selling $181.5 million worth of stock, SEC filing says
India ‘confident’ new EV policy measures will allow more foreign players to enter market
watch now India is confident that its new electric vehicle policy measures will open up the market to more global players, said the country’s secretary of the Department of Promotion of Industry and Internal Trade. Last month, the government rolled out key initiatives aimed at bolstering the country’s position in EV manufacturing. “It involves concessional… Continue reading India ‘confident’ new EV policy measures will allow more foreign players to enter market