New energy vehicles for export at Lianyungang Port, Jiangsu Province, China, on April 25, 2024. Nurphoto | Nurphoto | Getty Images Automotive companies in China sold more cars than their U.S. counterparts for the first time last year, boosted by BYD and growth in emerging markets, researcher Jato Dynamics said in a report published Thursday. … Continue reading Chinese automakers overtake U.S. rivals in sales for the first time, report shows
Author: CNBC Online news
Toyota has been rocked by a string of scandals — but analysts are unfazed
A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. Tomohiro Ohsumi | Getty Images News | Getty Images Japan’s largest carmaker Toyota has… Continue reading Toyota has been rocked by a string of scandals — but analysts are unfazed
Tesla shareholders vote to reinstate Elon Musk’s $56 billion pay package
Elon Musk at Tesla’s annual meeting in Austin, Texas on June 13, 2024 Video screenshot/Tesla Tesla shareholders on Thursday voted to ratify CEO Elon Musk’s mammoth 2018 pay plan, five months after a judge in Delaware ordered the company to rescind the package, finding it had been improperly granted by the board. At Tesla’s annual… Continue reading Tesla shareholders vote to reinstate Elon Musk’s $56 billion pay package
Stellantis aims to correct ‘arrogant’ mistakes in U.S. market, CEO says
Stellantis CEO Carlos Tavares speaks to media on June 13, 2024 following the company’s investor day at its North American headquarters in Auburn Hills, Mich. Michael Wayland / CNBC AUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as “arrogant” mistakes by himself and the company in the automaker’s U.S. operations… Continue reading Stellantis aims to correct ‘arrogant’ mistakes in U.S. market, CEO says
Stellantis plans to grow Jeep sales 50% by 2027
Jeep Wagoneer S Trailhawk EV concept Michael Wayland / CNBC AUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits. The trans-Atlantic automaker on Thursday said it will expand production and… Continue reading Stellantis plans to grow Jeep sales 50% by 2027
Ford ends EV dealership program that required hefty investment to sell electric models
An electric Ford truck is displayed during the Electrify Expo D.C. in Washington, D.C., on July 23, 2023. Nathan Howard | Getty Images Ford Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs. The “EV-certified” program was announced in September 2022… Continue reading Ford ends EV dealership program that required hefty investment to sell electric models
Watch live: Tesla annual meeting begins, shareholders vote on Musk’s $56 billion pay package
Tesla’s annual meeting, starting at 4:30 p.m. ET on Thursday, will feature a final vote on a contentious proposal asking shareholders to “ratify the 100% performance-based stock option award to Elon Musk” granted in 2018. Even if investors back the measure, the courts will have the last say. The proposal, one of a dozen for… Continue reading Watch live: Tesla annual meeting begins, shareholders vote on Musk’s $56 billion pay package
Fisker recalls thousands of Ocean EVs for safety and compliance issues
The Fisker Ocean electric sports utility vehicle (SUV) during AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California, U.S., on Wednesday, Nov. 17, 2021. Kyle Grillot | Bloomberg | Getty Images Electric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe… Continue reading Fisker recalls thousands of Ocean EVs for safety and compliance issues
At Stellantis investor day, cost cuts and China come into focus
Stellantis CEO Carlos Tavares holds a news conference after meeting with unions, in Turin, Italy, March 31, 2022. Massimo Pinca | Reuters DETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. That’s beginning to pay dividends for the company and investors. How the trans-Atlantic… Continue reading At Stellantis investor day, cost cuts and China come into focus
Tesla could get special duties as part of higher China EV tariffs, EU says
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X speaks during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. David Swanson | Reuters Tesla could be hit with a specially calculated duty on its cars produced in China and imported… Continue reading Tesla could get special duties as part of higher China EV tariffs, EU says