Autos
- PoliticsReuters
Republican-led states sue to block US rules curbing tailpipe emissions in cars, light trucks
Twenty-five Republican-led states sued the U.S. Environmental Protection Agency on Thursday to block rules intended to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing, Kentucky's attorney general said, arguing the agency exceeded its legal authority. The states have said the rules amount to an attempt by President Joe Biden's administration to transform the American passenger vehicle market improperly through strict rules that make it diff
2-min read - BusinessTechCrunch
Tesla Semi charging corridor project is still alive despite Biden admin funding snub
Tesla is pushing forward with a plan to build an electric big rig charging corridor stretching from Texas to California, despite being snubbed by a lucrative federal funding program that's part of Biden's Bipartisan Infrastructure Law. The company had been seeking nearly $100 million from the Charging and Fueling Infrastructure (CFI) Discretionary Grant program under the Federal Highway Administration (FHWA).
4-min read - BusinessYahoo Finance
'The clock has struck midnight' for Tesla and Elon Musk
Tesla stock is priced for a mainstream, autonomous future, but the company faces strategic uncertainty, leadership troubles, and hardening competition.
4-min read - BusinessReuters
Genuine Parts lifts profit forecast as US prospects brighten
Automotive parts distributor Genuine Parts raised its 2024 profit forecast on Thursday, hinging on strong demand for parts and improving automotive sales in the United States. In the past months, the company has been implementing pricing initiatives and strategic sourcing programs to perk up slowing sales in its U.S. automotive segment that was hurt by high costs and other inflationary pressures. It reaffirmed its sales growth forecast of 3% to 5% for the full year.
1-min read - BusinessReuters
Early Easter causes EU new car sales to drop 5.2% in March, says ACEA
New car sales in the European Union fell by 5.2% year-on-year in March, marking the first decline this year and the biggest since July 2022, Europe's auto industry body said on Thursday, citing the impact of early Easter holidays and a market downturn. Top European carmakers Volkswagen and Stellantis have said the market will be tough in 2024, as a result of weak global demand for electric vehicles (EVs), increasing Chinese competition, sustained cost pressures and geopolitical tensions. Car r
2-min read - BusinessReuters
Analysis-Wall Street wants answers from Musk on Tesla's affordable car
Elon Musk has kept investors hanging since he issued cryptic social posts following an exclusive April 5 Reuters report that Tesla had scrapped its plans for a $25,000 “Model 2” electric vehicle. “Reuters is lying,” Musk wrote in one post that day, without identifying any inaccuracies. Nearly two weeks later, with no concrete updates from Musk, Tesla investors are restless.
6-min read - BusinessReuters
US auto sector 'whipsawed' by politicians, Ford chairman says
The U.S. auto industry needs regulatory certainty from politicians in Washington and the back and forth as the White House changes hands doesn't help, but the adoption rate of electric vehicles will continue to grow, Ford Motor's executive chairman Bill Ford said on Wednesday. The growth rate on EV sales has slowed, but globally they are being adopted quickly and Ford will follow even as it hedges it bets with its gasoline-powered and hybrid electric vehicles, he said at a Detroit Free Press ev
3-min read
