Volkswagen and Xpeng will jointly develop two new VW-brand EVs for China based on Xpeng’s electric G9. Chen Dongqiu | Visual China Group | Getty Images Volkswagen said Wednesday that it has signed a deal to jointly develop two new electric vehicles for China with Chinese EV maker Xpeng. As part of the deal, Volkswagen… Continue reading Volkswagen buys stake in Xpeng, will jointly develop two new EVs with the Chinese automaker
Category: US Motoring Press
New, used EV prices have dropped, but don’t rush to buy: ‘It’s not a consumer-friendly market,’ analyst says
Sean Gallup | Getty Images News | Getty Images Prices for both used and new electric vehicles have dropped substantially from a year ago. But don’t rush to buy: Costs are still relatively high. “It’s not a consumer-friendly market right now,” said Joseph Yoon, a consumer insight analyst for car shopping guide Edmunds. related investing news… Continue reading New, used EV prices have dropped, but don’t rush to buy: ‘It’s not a consumer-friendly market,’ analyst says
Jeep, Dodge maker Stellantis posts first-half revenue jump, confirms 2023 guidance
Scott Mlyn | CNBC Carmaker Stellantis on Wednesday posted a 12% year-on-year jump in net revenues and 37% spike in net profit for the first half of 2023, boosted by higher shipments. The manufacturer of Jeep, Dodge, Peugeot and other brands recorded second-quarter net revenues of 98.4 billion euros ($108.8 billion) and a net profit of 10.9… Continue reading Jeep, Dodge maker Stellantis posts first-half revenue jump, confirms 2023 guidance
GM, Stellantis, 5 other automakers partner to beat Tesla with DC charging network
General Motors Co. and Stellantis NV are joining five other automakers to create a joint venture focused on beating Tesla Inc. as the leading high-powered electric-vehicle charging network in North America. The collaboration that also includes BMW AG, Honda Motor Co. Ltd., Hyundai Motor Co., Kia Corp. and the Mercedes-Benz Group seeks to install at… Continue reading GM, Stellantis, 5 other automakers partner to beat Tesla with DC charging network
Car buyers bear a heavy burden as Federal Reserve keeps raising rates: Auto-loan rejections are up
New York – The Federal Reserve’s decision Wednesday to raise its benchmark rate for the 11th time, by a quarter-point, could once again send ripple effects across the economy. Mortgage rates, which have surged since the Fed began lifting rates in March 2022, may now rise further. So could rates on credit cards and some… Continue reading Car buyers bear a heavy burden as Federal Reserve keeps raising rates: Auto-loan rejections are up
Stellantis posts record $12.1B net profit in first half of 2023
The maker of Chrysler, Dodge, Jeep and Ram vehicles early Wednesday reported record financial results for the first half of 2023, boosted by improved shipments of microchip deliveries compared to 2022. Stellantis NV reported a record $12.1 billion (10.9 billion euro) net profit, up 37% year-over-year for the first six months, on a best-ever $109… Continue reading Stellantis posts record $12.1B net profit in first half of 2023
Jim Farley to meet with Michigan lawmakers Wednesday on Capitol Hill
This content is only available to subscribers. Get unlimited digital access. $1 for the rest of the year. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics… Continue reading Jim Farley to meet with Michigan lawmakers Wednesday on Capitol Hill
Volkswagen partners with Xpeng for Chinese electric cars
The Volkswagen Group has invested in Xpeng as part of a long-term partnership that will include Volkswagen models being built on the Chinese EV maker’s platforms. The German giant will invest around $700 million (£540m) to take a 4.99% share in Xpeng – at a rate of $4.99 per share – and take a seat on the company’s… Continue reading Volkswagen partners with Xpeng for Chinese electric cars
India shows strongest growth potential for Lubricants demand among major consuming markets
India is a bright spot in the global lubricants market thanks to forecasts for significant growth, according to the latest research findings shared by Kline & Co. at the industry conference Shining Bright: Unlocking Growth Opportunities in the Indian Lubricants Market. The same sentiment was unanimously echoed by industry leaders at the conference about the world’s… Continue reading India shows strongest growth potential for Lubricants demand among major consuming markets
India shows strongest growth potential for Lubricants demand among major consuming markets
India is a bright spot in the global lubricants market thanks to forecasts for significant growth, according to the latest research findings shared by Kline & Co. at the industry conference Shining Bright: Unlocking Growth Opportunities in the Indian Lubricants Market. The same sentiment was unanimously echoed by industry leaders at the conference about the world’s… Continue reading India shows strongest growth potential for Lubricants demand among major consuming markets