Autos
Tesla CEO Elon Musk hosts ‘Cyber Rodeo’ party to open Austin factory
On Thursday night, Tesla CEO Elon Musk spoke at a grand opening event for the electric vehicle maker’s new $1.1 billion factory near the Austin airport in Texas. At the event, he spoke about how massive the new factory is, and teased products that are still in development, including the Cybertruck, and a robotaxi that […]
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Longtime Tesla bull Ron Baron plans to hold the stock at least another 8 years
Investor Ron Baron has been one of Tesla’s largest shareholders for years, and he has no plans to change that. Baron told CNBC on Thursday that he thinks the electric vehicle giant’s high-flying stock has much more room to run – and that he plans to continue holding the company’s stock for at least eight […]
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From trolling Tesla to ‘WTF mode’: Here’s why GM insiders say the Hummer EV marks a change for the automaker
GMC Hummer EV Edition 1 Michael Wayland / CNBC PHOENIX – The new electric GMC Hummer pickup is different for General Motors and not just because it isn’t a gas-guzzler like its ancestors. It marks a major shift for the historically conservative Detroit automaker in both form and function, according to those who worked on […]
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Demand for used cars drops from a year ago but high prices aren’t budging
David Paul Morris | Bloomberg | Getty Images Used-car prices appear to be stuck in high gear, despite slowing consumer demand. Last month, sales of used cars less than 10 years old were down 27% compared with March 2021, according to car shopping app CoPilot, which tracks dealership prices nationwide. The average price during that […]
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‘It’s meaningless’ — large Tesla shareholder Ron Baron reacts to Elon Musk joining Twitter’s board
Ron Baron, the CEO of Baron Capital and one of Tesla’s largest shareholders, said that Elon Musk’s 9.2% stake in Twitter, and his accompanying board seat, is not significant. “I think it’s meaningless,” he told CNBC’s “Squawk Box” Thursday. “It’s a tiny investment. $3 billion for a man who is worth $300 billion. He has […]
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Here’s how to navigate buying a car amid low inventory and high prices
Any shopper who has stepped onto a vehicle sales lot during the coronavirus pandemic has likely noticed at least two things: There are very few cars and they have very high sticker prices. Amid inflation and fear of a recession, buying a car in this climate is certainly not for the faint of heart. “If […]
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Ford will continue to struggle as chip shortage lingers, Barclays says in downgrade
Ford reported on Monday that its sales declined during the first quarter, in part due to production issues caused by the semiconductor shortage Source
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Biden administration holds EV industry meeting with Musk, Barra
Founder and CEO of Tesla Motors Elon Musk speaks during a media tour of the Tesla Gigafactory, which will produce batteries for the electric carmaker, in Sparks, Nevada. James Glover II | Reuters The Biden administration said senior officials held a meeting Wednesday with major automotive leaders including Tesla Chief Executive Elon Musk and General Motors Chief […]
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GM expects record year of Chevy Bolt EV sales following fire recall
2022 BOLT EUV Source: Chevrolet DETROIT – General Motors expects sales of its electric Chevrolet Bolt models can rebound from a high-profile recall after several vehicles caught fire to achieve record results in 2022. “We see record numbers of sales and production for ’22, and we see ’23 being bigger than ’22. We are bullish […]
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Army Corps of Engineers withdraws SpaceX application to expand Starship facilities in Texas
Starship prototype 20 stacked on top of Super Heavy booster 4 at the company’s facility in Boca Chica, Texas. SpaceX The US Army Corps of Engineers has withdrawn SpaceX’s application to expand launch facilities in Boca Chica, Texas, after the company failed to provide environmental information the agency requested, according to documents obtained by CNBC. […]
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