Tesla’s profit fell sharply in the first three months of the year after it cut the prices of its electric vehicles, the company said on Wednesday. The carmaker, led by Elon Musk, said it had made $2.5 billion in the first quarter, a drop from $3.7 billion in the last three months of last year… Continue reading Tesla’s Profit Dropped Sharply in First Quarter as It Cut Prices
Category: US Motoring Press
U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks
American brands like Tesla and General Motors will benefit most from rules that determine which electric vehicles qualify for tax credits starting on Tuesday. Foreign carmakers like Hyundai will be at a significant disadvantage because of restrictions aimed at cutting China out of the supply chain. Only 10 vehicles will initially qualify for tax credits… Continue reading U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks
Bentley CEO says customization craze among the wealthy is boosting profit
Bentley CEO Adrian Hallmark. Scott Mlyn | CNBC After a record-breaking year in 2022, Bentley Motors reported surging profits in the first quarter due in large part to car customization, CEO Adrian Hallmark said. Bentley reported its best-ever first quarter, with operating profits up 27% to 216 million euros, or about $232 million. Even more… Continue reading Bentley CEO says customization craze among the wealthy is boosting profit
Payne: Bite-size Tonale SUV is a meaty Alfa appetizer
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. 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 from… Continue reading Payne: Bite-size Tonale SUV is a meaty Alfa appetizer
Canadian autoworkers union Unifor lays out priorities for Detroit Three contract talks
The labor union representing Canadian autoworkers said on Thursday that pensions, higher wages and job security in the shift to producing electric vehicles are the priorities at the bargaining table this year with Detroit’s three automakers. Delegates from Unifor’s locals met for the union’s Special Auto Council on Wednesday and Thursday in London, Ontario, to… Continue reading Canadian autoworkers union Unifor lays out priorities for Detroit Three contract talks
Bipartisan bill would require automakers to keep AM radio in new cars
New York — Lawmakers on Capitol Hill are pushing to keep AM radio in the nation’s cars. A bipartisan group in Congress on Wednesday introduced the “AM for Every Vehicle Act.” The bill calls on the National Highway Traffic Safety Administration to require automakers to keep AM radio in new cars at no additional cost. The legislation… Continue reading Bipartisan bill would require automakers to keep AM radio in new cars
GM CEO Mary Barra on the industry’s transformation, progress on DEI, and return to office
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. 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 from… Continue reading GM CEO Mary Barra on the industry’s transformation, progress on DEI, and return to office
More than 30M US drivers don’t know if they’re at risk from a dangerous airbag blast
Detroit – More than 33 million people in the United States are driving vehicles that contain a potentially deadly threat: Airbag inflators that in rare cases can explode in a collision and spew shrapnel. Few of them know it. And because of a dispute between federal safety regulators and an airbag parts manufacturer, they aren’t… Continue reading More than 30M US drivers don’t know if they’re at risk from a dangerous airbag blast
Toyota Kirloskar Motor ramps-up production with third shift operations
Toyota Kirloskar Motor (TKM), has announced the commencement of three-shift operations at its manufacturing facility in Bidadi from the month of May, 2023 backed by the rising demand for its existing portfolio of products and its new launches in 2022. Three shift operations commencement is set to boost the plant’s production output by over 30%… Continue reading Toyota Kirloskar Motor ramps-up production with third shift operations
FADA advocates for GST rate reduction on Two-Wheelers from 28% to 18% for a timely revitalisation of the segment
The Federation of Automobile Dealers Associations (FADA), the body of Automobile Retail in India, has submitted a critical representation to the GST Council, urging an immediate reduction in the GST rate on two-wheelers from the current 28% to 18%. This timely and decisive intervention is aimed at making two-wheelers more affordable, reviving demand, and reinvigorating… Continue reading FADA advocates for GST rate reduction on Two-Wheelers from 28% to 18% for a timely revitalisation of the segment