General Motors reported a sales gain for the fourth quarter and all of 2022 in what has been a turbulent year as parts shortages kept inventory levels low, hobbling new car sales in the first half only to recover later in the year to help the automaker hang onto its U.S. sales crown. GM said… Continue reading GM reports gains in full-year sales, but experts say car buyers to see deals in 2023
Category: US Motoring Press
Share of new car buyers with a monthly payment of more than $1,000 hits record high
watch now Financing a new or used car is more expensive than ever, new research shows. Amid rising interest rates and elevated auto prices, the share of new car buyers with a monthly payment of more than $1,000 jumped to a record high, according to Edmunds. For the first time, just over 15% of consumers who… Continue reading Share of new car buyers with a monthly payment of more than $1,000 hits record high
Stellantis beefs up commitment to electric flying vehicle company Archer Aviation
watch now Stellantis is leaning into its bet on a future that includes flying cars. The Chrysler maker is doubling down on its commitment to help Archer Aviation produce its first batch of electric flying vehicles by 2025, announced Stellantis CEO Carlos Tavares and Archer CEO Adam Goldstein in an interview on CNBC’s Tech Check.… Continue reading Stellantis beefs up commitment to electric flying vehicle company Archer Aviation
GM reclaims title as America’s top automaker after a 2.5% jump in sales last year
2022 GMC Sierra 1500 Denali Ultimate GM DETROIT – General Motors reclaimed its U.S. sales crown from Toyota Motor last year as the Detroit automaker eked out a slight gain in annual U.S. vehicle sales despite supply chain problems. GM said Wednesday it sold 2.27 million vehicles in the U.S. in 2022, up by 2.5%… Continue reading GM reclaims title as America’s top automaker after a 2.5% jump in sales last year
Rivian stock hits new 52-week low after the automaker misses 2022 production target
Employees work on an assembly line at startup Rivian Automotive’s electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Shares of Rivian Automotive notched a new 52-week low on Wednesday after the company missed its 25,000-unit production target for last year. The EV startup late Tuesday said it produced 24,337 vehicles… Continue reading Rivian stock hits new 52-week low after the automaker misses 2022 production target
China risks loom over U.S. tech giants Tesla and Apple as share prices plunge
watch now Apple and Tesla are facing major headwinds in China which is contributing to investor jitters around the two U.S. technology giants. Tesla shares tanked 12% on Tuesday after the electric car maker reported deliveries that fell short of analyst expectations, while Apple dropped more than 3% as concerns resurfaced about demand for the… Continue reading China risks loom over U.S. tech giants Tesla and Apple as share prices plunge
Automakers rev up six-figure rides, but the economy may slow their roll
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 eNewspaper, 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 Automakers rev up six-figure rides, but the economy may slow their roll
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