Two icons of the U.S. auto world, Andretti Global and General Motors Co.’s Cadillac, are teaming up to race in the world’s most prestigious, open-wheel, motor-racing series, Formula 1. The bombshell news Thursday came as Formula 1 and Cadillac are making major pushes in new markets, and dovetails with retired race-car driver Michael Andretti’s ambitions… Continue reading Auto heavyweights Andretti, GM team up to race on Formula 1’s global stage
Author: Detroit News Online
IRS ticks off Tesla, pleases Hyundai with EV credit guidance
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Ford closes 2022 as No. 2 EV maker as sales slip 2.2%
Ford Motor Co.’s U.S. sales slipped 2.2% year-over-year in 2022, amid the auto industry’s worst sales showing in a decade. The Dearborn automaker reported 1,864,464 sales for the year, down from 1,905,955 in 2021. For December, Ford’s sales of 179,279 vehicles were up 3.2% year-over-year. Meanwhile, Ford’s market share inched up 0.7 percentage points last… Continue reading Ford closes 2022 as No. 2 EV maker as sales slip 2.2%
Automakers rev up six-figure rides, but the economy may slow their roll
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Stellantis reports 13% sales decline in 2022
Stellantis NV, maker of Ram trucks and Jeeps, reported a 13% sales decline in 2022 after a year of continuing supply chain issues and slowing demand amid rising interest rates. Stellantis’ U.S. dealers sold 1.5 million new vehicles last year, down from about 1.8 million sold in 2021. In the fourth quarter, Stellantis’ sales dropped… Continue reading Stellantis reports 13% sales decline in 2022
Stellantis to build Archer’s Midnight electric aircraft in Georgia
Las Vegas — If Jeep SUV and Ram pickup truck owners think their vehicles are fly, wait until they see the latest vehicle the automaker has announced it’ll build. Expanding its partnership with California-based startup Archer Aviation Inc., Stellantis NV said on Wednesday it’ll manufacture Archer’s Midnight, an electric vertical take off and landing, or… Continue reading Stellantis to build Archer’s Midnight electric aircraft in Georgia
GM reports sales increase in 2022, reclaims top automaker title from Toyota
General Motors Co. reported a 2022 year-over-year 2.5% sales increase despite supply struggles mixed with slowing demand toward the end of the year as interest rates continued to increase. GM’s U.S. dealers sold 2,274,088 new vehicles last year, up from the 2,218,228 sold in 2021. GM reclaimed its throne from Toyota Motor Corp. as the… Continue reading GM reports sales increase in 2022, reclaims top automaker title from Toyota
Tesla’s share turnover beats big tech peers in New Year selloff
More than $25 billion worth of Tesla Inc. shares changed hands on the first day of New Year trading as the EV maker’s stock continued its downward slide. Equity trading volume for the firm piloted by Elon Musk was the highest among all members in the S&P 500 Index and almost as much as the… Continue reading Tesla’s share turnover beats big tech peers in New Year selloff
UAW workers to vote on CNH offer 8 months after strike began
More than 1,000 striking CNH Industrial workers will soon vote on an offer from the maker of construction and agricultural equipment for the first time since they walked off the job eight months ago. The United Auto Workers union said this week that it decided to put the company’s “upgraded last, best and final offer”… Continue reading UAW workers to vote on CNH offer 8 months after strike began
Auto sales expected to grow in 2023 with chip recovery offsetting inflation
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