Tesla is attempting a huge pivot in its strategy at a time when demand for electric vehicles is threatened by a slowing economy and competition is greater than it’s ever been. “We basically adjust our pricing to match demand,” Musk said in a Tuesday interview with CNBC . “All car companies make a significant adjustment … Read more
Text size Tesla CEO Elon Musk said he has found a new chief executive for Twitter. Lillian Suwanrumpha/AFP via Getty Images Stock futures were rising Friday as Wall Street came off a mostly down day despite data that showed a further cooling of the U.S. economy. These stocks were poised to make moves Friday: Tesla (TSLA) … Read more
A Chevrolet Bolt EUV on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC DETROIT — After years of lackluster performance and a fire-provoked recall, the all-electric Chevrolet Bolt EV was finally gaining traction for General Motors. As America’s cheapest EV following significant price cuts, U.S. sales of the Chevy … Read more
Price wars have consequences, even for Tesla, the world’s most valuable car company. Tesla‘s (ticker: TSLA) first-quarter earnings, reported Wednesday evening, met expectations, but its first-quarter automotive gross profit margins were bad. No matter how investors slice and dice the numbers, results will leave them with questions about EV demand and Tesla’s pricing strategy. Automotive … Read more
My car seems to be beating the stock market. It’s nothing special—a midsize, mass-market sport-utility vehicle leased in September 2020. On the pandemic supply-chain timeline, that’s after the toilet paper panic and just before the everything-else shortage. And yes: leased. I get a new car every three years to avoid the hassle of repairs and … Read more
Text size Rivian stock has been punished by a slower than hoped for production ramp, along with a higher than expected costs. Courtesy Rivian First-quarter deliveries and production for electric-truck start-up Rivian Automotive fell compared with the fourth quarter of 2022. The company maintained full-year sales guidance. The dip was expected, but it still appears … Read more
Tesla Superchargers are seen at a charging station on March 17, 2023 in Beijing, China. Vcg | Visual China Group | Getty Images Tesla on Sunday posted its first-quarter vehicle production and delivery report for 2023. Here are the key numbers from the electric vehicle maker: Total deliveries Q1 2023: 422,875 Total production Q1 2023: 440,808 … Read more
Text size Shipping giant FedEx raised its profit forecast for the fiscal year. Justin Sullivan/Getty Images Stock futures wavered Friday as the biggest banks in the U.S. moved to rescue beleaguered First Republic Bank. These stocks were poised to make moves Friday: First Republic Bank (FRC) was down 4% in premarket trading. The stock closed with … Read more
Workers put engines on the frame as Ford Motor Co. fuel powered F-150 trucks under production at their Truck Plant in Dearborn, Michigan on September 20, 2022. Jeff Kowalsky | AFP | Getty Images Ford Motor Co on Friday said it was studying ways to boost output of gasoline-powered and hybrid F-150 trucks at a … Read more
Text size Rivian’s manufacturing plant in Normal, IL. The company’s production guidance was good for 2022. Investors will be hoping for similar this year. Courtesy Rivian After plenty of bad news about production from electric vehicle start-ups, market watchers will have the 2023 production outlook from Rivian Automotive in focus when the company updates investors … Read more