Autos
JPMorgan trims price target for Tesla, says shares could fall more than 40% on weaker deliveries
Shares of Tesla could still fall more than 40% from here as the electric vehicle maker faces challenges ramping up deliveries, according to JPMorgan. Analyst Ryan Brinkman reiterated an underweight rating and trimmed the price target for Tesla, saying in a Tuesday note that the firm lowered its second-quarter and full-year earnings estimates after the […]
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Luxury car buyers shell out more than ever with ‘car payments that look more like mortgage payments’
If you can even find a new car to buy, actually purchasing it is going to cost you. “It’s a really difficult time to buy a car,” said Jessica Caldwell, executive director of insights for Edmunds. Limited inventory due to a persistent shortage of computer chips, along with other supply-chain challenges, helped propel new car […]
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Ford reports slight uptick in sales that misses analysts’ expectations
Electric Ford F-150 Lightning Andrew Evers / CNBC DETROIT – Ford Motor on Tuesday reported a slight increase in second-quarter new vehicle sales that missed the expectations of automotive analysts. Ford said second-quarter sales rose 1.8% compared to a year earlier, including a 31.5% increase in June. Analysts expected the Detroit automaker’s sales to increase […]
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German road traffic agency says 59,000 Tesla vehicles have software glitch
Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. Christian Marquardt | Getty Images Germany’s road traffic agency said it was recalling Tesla models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 vehicles […]
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Tesla delivered 254,695 electric vehicles in the second quarter of 2022
A giant cowboy boot is on display outside the Tesla Giga Texas manufacturing facility during the “Cyber Rodeo” grand opening party on April 7, 2022 in Austin, Texas. Suzanne Cordeiro | AFP | Getty Images Tesla just posted its second-quarter vehicle production and delivery numbers for 2022. Here are the key numbers: Total deliveries Q2 […]
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Self-driving cars from GM’s Cruise block San Francisco intersection in latest problem for autonomous vehicles
A robot car of the General Motors subsidiary Cruise is on a test drive. Andrej Sokolow | picture alliance | Getty Images Automotive and tech executives long promised autonomous vehicles would drive better than humans, but that wasn’t the case for a fleet of Cruise cars in San Francisco this week. The company, a majority-owned […]
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Activist investor group asks SEC to investigate Tesla over plan to shrink board
Elon Musk, here seen at an event in New York in early-May, is being aggressively wooed to set up facilities to produce his electric vehicles “end-to end” in resource-rich Indonesia. Taylor Hill | Getty Images Entertainment | Getty Images Activist investors SOC Investment Group have asked federal financial regulators to investigate Tesla over plans to […]
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GM’s quarterly sales fall but show improvement from beginning of year
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors’ U.S. vehicle sales were down about 15% in the second quarter from a year ago as the automaker continues to battle supply chain issues, but showed improvement from […]
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Massive pile-up of cars, auto parts, Ikea exports bound for U.S. due to European port labor strife
Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the U.S. that will take months to clear out. According to the bills of lading found through ImportGenius, some of the items that are exported out of these ports are critical components to the auto […]
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GM warns of manufacturing issues in second quarter but stands by 2022 forecast
Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors on Friday warned investors that supply chain issues would materially impact its second quarter earnings, while maintaining […]
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