Detroit News Online – Page 123 – I wish I had more to offer

Electric car, energy tax-credit rules put on fast track at Treasury

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Tesla’s retail fans undeterred by delivery miss, recession fears

Even a disappointing quarterly delivery report from Tesla Inc. and the threat of a recession cannot keep the electric-vehicle maker’s loyal retail investors from flocking to the company. After its third-quarter vehicle deliveries failed to meet analysts’ estimates, Tesla’s shares tumbled on Monday, closing down 8.6%. Still, that did not deter mom-and-pop investors and day… Continue reading Tesla’s retail fans undeterred by delivery miss, recession fears

EV battery maker nets $236.6M in tax incentives for Wayne County plant

The Michigan Strategic Fund board on Wednesday approved a $200 million state grant and other incentives for Novi-based Our Next Energy or ONE to invest $1.6 billion on a battery manufacturing plant in Van Buren Township. The project is expected to create 2,112 new jobs. The $1.6 billion investment by ONE may include up to… Continue reading EV battery maker nets $236.6M in tax incentives for Wayne County plant

Ford sales up in third quarter but down in September on supply issues

Ford Motor Co.’s sales fell nearly 9% year-over-year in September amid continued supply constraints but were up 16% in the third quarter, according to sales numbers released Tuesday. The Dearborn automaker sold 142,644 vehicles in the U.S. last month, down 8.9% from September 2021. For the quarter, Ford sold 464,674 vehicles — below some analysts’… Continue reading Ford sales up in third quarter but down in September on supply issues

GM adds venture capital investor, former Tesla exec to board of directors

General Motors Co. has added entrepreneur and venture capital investor Jonathan McNeill, 55, the co-founder and CEO of DVx Ventures, to its board of directors, the company said Tuesday. McNeill in 2019 founded DVx, which focuses on helping businesses that will have a positive impact on the world. Prior to that, McNeil was chief operating… Continue reading GM adds venture capital investor, former Tesla exec to board of directors

GM, Stellantis sales point to higher prices and interest rates, low supply

This content is only available to subscribers. Get unlimited digital access. $1 for 6 months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The e-Edition, a digital replica of the print paper, every day. Trusted, up-to-date local Detroit and Michigan breaking news. Newsletters on topics that… Continue reading GM, Stellantis sales point to higher prices and interest rates, low supply

For new-car buyers in a tight market, the waiting is the hardest part

This content is only available to subscribers. Get unlimited digital access. $1 for 6 months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The e-Edition, a digital replica of the print paper, every day. Trusted, up-to-date local Detroit and Michigan breaking news. Newsletters on topics that… Continue reading For new-car buyers in a tight market, the waiting is the hardest part

These driverless trucks haul drinks

GM sees 24% 3Q sales increase, says it’s prepping early for EV launches in 2023

General Motors Co. U.S. dealers sold 555,580 vehicles in the third quarter, up 24% from last year as inventory levels improved and demand remained strong despite rising interest rates. Three of GM’s brands posted double-digit gains: Chevrolet was up 30%, GMC 24% and Cadillac 50%, while Buick was down 27%. GM ended the third quarter… Continue reading GM sees 24% 3Q sales increase, says it’s prepping early for EV launches in 2023

Stellantis sales slide 6% in Q3

U.S. sales of the maker of Chrysler, Dodge, Jeep and Ram vehicles dropped 6% in third quarter compared to 2021 as supply-chain snags and the semiconductor shortage continue to hold up production of new vehicles. Stellantis NV sold 385,665 vehicles in the July-to-September quarter. It benefitted from the launch of the Jeep Grand Cherokee 4xe… Continue reading Stellantis sales slide 6% in Q3