Autos
- BusinessReuters
GM and Ford count on gas-powered trucks as EV growth slows
U.S. automakers General Motors and Ford face a challenge in common when they report first-quarter results next week: Explaining to investors where profit growth will come from in the months ahead as EV growth slows. The slowdown in global electric-vehicle demand, intensifying competition from Chinese automakers and high U.S. borrowing costs have forced the U.S. automakers to delay investments and ratchet down costs over the past 12 months. With China's economy slowing and U.S. inflation runnin
3-min read - BusinessYahoo Finance
Tesla's EV success made it 'Magnificent.' It could also be its downfall.
Tesla's growth story was about leading the paradigm shift to EVs, and an affordable car was a part of that story. Now without it, the narrative has changed.
3-min read - BusinessTechCrunch
Tesla still plans to build 1,800-mile charging corridor for semi trucks despite Biden 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 President 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
