Detroit
Meet GM’s most expensive and powerful Cadillac Escalade yet, starting at $150,000
2023 Cadillac Escalade V-Series Cadillac DETROIT – General Motors’ newest Cadillac Escalade will be the most powerful and expensive version of the full-size SUV ever when it goes on sale this summer, starting at about $150,000. The Detroit automaker unveiled the 2023 Cadillac Escalade-V on Wednesday with a supercharged 6.2-liter V-8 engine that delivers 682 […]
Read More
Cathie Wood’s Ark takes a stake in GM for the first time
The purchase – valued at more than $6 million – was through the ARK Autonomous Tech. & Robotics ETF. Source
Read More
Used-car prices are down from record highs, easing the impact of inflation
A sign advertises cash paid for used cars in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images DETROIT – Wholesale used-vehicle prices have notably fallen from a record high set in January, signaling the worst of sky-high prices related to higher inflation in the U.S. may be behind us. […]
Read More
Ford reports smaller sales decline in April while chip shortage weighs on supply
Ford F-150 Lightning pickup trucks sit on the production line at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT – Ford Motor on Wednesday reported a 10.5% decline in April sales compared to a year ago, notably narrowing its losses compared to recent months. […]
Read More
Detroit automakers aren’t letting up on a long-standing rivalry, even as they pivot to take on Tesla
Ford CEO Jim Farley speaks at the launch of the all-new electric Ford F-150 Lightning pickup truck at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. The F-150 Lightning is positioned to be the first full-size all-electric pickup truck to go on sale in the mainstream U.S. market. Bill Pugliano […]
Read More
Ford cuts 580 U.S. salaried and contract employees as it restructures to focus on EVs
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland DETROIT – Ford Motor is cutting 580 U.S. salaried employees and agency workers as part of its ongoing Ford+ turnaround plan, the company confirmed Wednesday night. The cuts include approximately […]
Read More
Ford sees first-quarter profit dragged lower by Rivian stake, but maintains 2022 earnings guidance
Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan. Courtesy: Ford Motor Co. DETROIT – Ford Motor posted first-quarter results Wednesday that were in line with Wall Street’s expectations, though its earnings were dragged down by a stake in electric vehicle maker Rivian Automotive and lower profits on reduced production. […]
Read More
GM’s first-quarter earnings surprised Wall Street but investors remain cautious
GM’s impressive beat and reaffirmed guidance weren’t enough to outweigh fears of analysts and investors of outside macro-economic factors. Source
Read More
GM will start tying executive compensation to electric vehicle targets
General Motors Chairwoman and Chief Executive Officer Mary Barra speaks during a meeting hosted by U.S. President Joe Biden with private sector CEOs to discuss the Build Back Better agenda at the White House in Washington, U.S., January 26, 2022. Kevin Lamarque | Reuters DETROIT – General Motors will begin tying a “significant part” of […]
Read More
General Motors maintains 2022 guidance despite rising costs and supply chain issues
DETROIT – Amid rising costs and supply chain instability, General Motors reaffirmed its earnings expectations for 2022 despite reporting a lower net profit and margin compared to a year ago. CEO Mary Barra and CFO Paul Jacobson described the first-quarter results as “solid” and a testament to actions the company has taken in recent years […]
Read More