This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Exclusive investigative reporting that fights for the truth, exposes corruption and gives voice to the voiceless all across Michigan. Comprehensive coverage of Michigan’s auto industry, including in-depth analysis of Ford, GM, and Stellantis’… Continue reading Used EVs are growing in popularity, but beware to watch for these issues when shopping
Category: US Motoring Press
Stellantis revenues, shipments up in 1st quarter
Improvements in semiconductor supplies helped Jeep- and Chrysler-parent Stellantis ship more vehicles in the first quarter of 2023. Those consolidated shipments of almost 1.5 million units, up 7% compared with the same quarter a year ago, gave net revenues a boost as well, up 14% to $52 billion (47 billion euros). Net revenues were up… Continue reading Stellantis revenues, shipments up in 1st quarter
United Auto Workers Hold Off on Backing Biden, for Now
The United Auto Workers, a politically potent labor union, is planning to withhold its endorsement of President Biden in the early stages of the 2024 race, according to an internal memo from its president to members on Tuesday. The memo, written by Shawn Fain, the Detroit-based union’s president, said the leadership of the United Auto… Continue reading United Auto Workers Hold Off on Backing Biden, for Now
UAW withholding Biden reelection endorsement until EV concerns are addressed
UAW President Shawn Fain chairs the 2023 Special Elections Collective Bargaining Convention in Detroit, March 27, 2023. Rebecca Cook | Reuters DETROIT – Leaders of the United Auto Workers are withholding a reelection endorsement for President Joe Biden until the union’s concerns about the auto industry’s transition to all-electric vehicles are addressed, according to a… Continue reading UAW withholding Biden reelection endorsement until EV concerns are addressed
Club meeting recap: Fed in Focus, Estee Lauder, earnings roundup
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Fed decision day Sit tight on Estee Lauder Earnings roundup: AMD, SBUX, F 1. Fed decision day Equities were mixed Wednesday morning ahead of the Federal Reserve’s announcement on interest… Continue reading Club meeting recap: Fed in Focus, Estee Lauder, earnings roundup
Jeep, Dodge maker Stellantis posts first-quarter revenue jump as chip supply eases
Attendees view vehicles at the Jeep booth during opening day of the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 7, 2023. Stephanie Keith | Bloomberg | Getty Images Carmaker Stellantis on Wednesday posted a 14% annual rise in first-quarter net revenues as an easing of semiconductor supply chain pressures… Continue reading Jeep, Dodge maker Stellantis posts first-quarter revenue jump as chip supply eases
Ford restores faith with quarterly results, while Starbucks proves to be a China play
Club holding Ford (F) on Tuesday showed investors it had righted the ship in the first quarter following a dismal end of 2022, easing our concerns that the legacy automaker had lost its way. Automotive revenue for the three months ended March 31 increased about 21% year-over-year, to $39.09 billion, topping analysts’ forecasts of $32.08… Continue reading Ford restores faith with quarterly results, while Starbucks proves to be a China play
UAW demands Biden support ‘top wages’ for EV workers before endorsing
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 UAW demands Biden support ‘top wages’ for EV workers before endorsing
Microchip availability boosts Stellantis revenues, shipments in the first quarter
Stellantis NV on Wednesday said revenue increased 14% to $52 billion (47.2 billion euro) in the first quarter of 2023 from last year as global shipments increased 7% and inventories recovered from the ongoing global microchip shortage. Shipments totaled 1.476 million vehicles in the first quarter. In its largest region, North America, revenue rose 10% year-over-year to… Continue reading Microchip availability boosts Stellantis revenues, shipments in the first quarter
Ford posts April sales gain as F-Series comes roaring back
Ford Motor Co.’s U.S. sales rose 4% year-over-year in April, bolstered by strong results in the truck segment. The Dearborn automaker sold 184,002 vehicles in the United States last month. Sales of internal combustion engine vehicles were up 5.6%, while hybrid vehicle sales slipped 6.9% and electric-vehicle sales fell 25% as the automaker continued to… Continue reading Ford posts April sales gain as F-Series comes roaring back