The State Department said Thursday that it had put plans to buy armored electric vehicles on hold after reports that the $400 million order would go to Tesla, whose chief executive, Elon Musk, is one of President Trump’s most important advisers and supporters. The agency pushed back against suggestions that the purchase was designed to… Continue reading State Dept. Suspends Plan to Buy Armored Vehicles From Elon Musk’s Tesla
Tag: GM
New Peugeot boss open to 208 GTI revival
Peugeot is considering reviving the Peugeot 208 GTi as a hot EV, new boss Alain Favey has said. Favey said bringing the GTi moniker back was “a question I’ve been asking myself very much” since taking over the role of Peugeot CEO from Linda Jackson as part of a wide-reaching Stellantis management shake-up just 10 days… Continue reading New Peugeot boss open to 208 GTI revival
Vauxhall Corsa
In persistent rain, our 99bhp Vauxhall Corsa test car battled through a shortage of traction off the line to hit 60mph in 11.2sec. In similarly adverse conditions last year, however, a 94bhp Volkswagen Polo with smaller, 15in wheels and 185-section tyres was able to hit 60mph from rest half a second quicker. A respectable but… Continue reading Vauxhall Corsa
UK Car Parts Maker Dowlais Agrees to $1.2 Billion Merger With American Axel
(Bloomberg) — American Axle & Manufacturing Holdings Inc., a maker of drivetrain components, has agreed to combine with UK peer Dowlais Group Plc in a transatlantic automotive deal. Most Read from Bloomberg A cash-and-share deal valued at about £1.16 billion ($1.44 billion) represents a premium of around 25% to Dowlais’ Jan. 28 closing share price,… Continue reading UK Car Parts Maker Dowlais Agrees to $1.2 Billion Merger With American Axel
Auto Roundup: GM’s Unfulfilled Robotaxi Dreams, AZO Q1 Earnings & More
The China Passenger Car Association has released vehicle sales data for November. China’s retail sales of passenger vehicles were up 16.5% year over year to more than 2.4 million units. Retail sales of passenger vehicles in the first 11 months of 2024 increased 4.4% year over year. Sales of new energy vehicles in the country… Continue reading Auto Roundup: GM’s Unfulfilled Robotaxi Dreams, AZO Q1 Earnings & More
GM’s 100-year-old China business can’t keep up with the EV boom there
Mary Barra, CEO of General Motors, got a question at a recent panel that almost every auto CEO has grappled with in the past year: Why is your company doing so poorly in China? Less than a decade ago, China was an easy source of cash for GM, an “automatic” $2 billion-a-year dividend for investors,… Continue reading GM’s 100-year-old China business can’t keep up with the EV boom there
Dongfeng Motor shares surge as restructuring plans prompt merger speculation
HONG KONG (Reuters) -Shares of Dongfeng Motor soared as much as 85.8% in Hong Kong on Monday after the Chinese automaker said its parent was planning a restructuring, stoking speculation that some of the state-owned players could be merged as competition grows. The stock jumped to HK$6, its highest since July 2022, shortly after the… Continue reading Dongfeng Motor shares surge as restructuring plans prompt merger speculation
Why GM stock has gotten hit hard on earnings
General Motors’ (GM) hot stock has sprung a leak after its latest earnings report on Tuesday. Shares of the auto giant fell as much as 11% on Tuesday and closed down 9%. It marked the worst day for the stock since March 2020. The stock shed another 1% through midday trading on Wednesday. The stock… Continue reading Why GM stock has gotten hit hard on earnings
GM CEO Mary Barra: I’ve talked to President Trump about tariffs
General Motors (GM) chair and CEO Mary Barra has made her case on tariffs to President Trump. “We’ve done a lot of scenario planning and we know the levers that we can pull to minimize any impact. But having the opportunity to talk to the president, I really believe he wants a strong manufacturing sector… Continue reading GM CEO Mary Barra: I’ve talked to President Trump about tariffs
Tesla’s future under President Trump: Weigh AI potential against slowing EV demand
Tesla’s (TSLA) eye-watering post-election rally may soon resume. The stock, which has rocketed a staggering 65% since Nov. 5, has taken a breather in recent weeks, as worry over slowing demand trends and a rollback of pro-EV policies raised fears of near-term financial performance. Tesla shares fell 4% during President Trump’s first week back in… Continue reading Tesla’s future under President Trump: Weigh AI potential against slowing EV demand