Detroit
Ford Motor is about to report earnings. Here’s what to expect
The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor is set to report second-quarter earnings after the markets close Wednesday. The Detroit automaker’s results are expected to be relatively healthy, although down from the second quarter of 2023 and not as strong […]
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GM slows its EV plans again even as sales grow
GM’s 2024 Chevrolet Equinox EV during a media launch event for the vehicle in Detroit, May 16, 2024. Michael Wayland / CNBC DETROIT – General Motors said Tuesday it is again slowing its plans for all-electric vehicles by further delaying a second U.S. electric truck plant and the Buick brand’s first EV. The six-month delay […]
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General Motors is set to report earnings before the bell
A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on Jan. 5, 2023. Brandon Bell | Getty Images DETROIT — General Motors is set to report second-quarter results before the bell Tuesday. Wall Street expects GM to be the standout among the traditional Detroit automakers, with […]
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Automakers report earnings this week. GM is set to be the standout
General Motors CEO Mary Barra, center, at the New York Stock Exchange, Nov. 17, 2022. Source: NYSE DETROIT — Wall Street expects General Motors to be the standout among the traditional Detroit automakers when they report second-quarter results this week, with sales and vehicle prices stable during the first half of the year for America’s […]
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Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
2023 Ford Super Duty F-350 Limited Ford DETROIT – Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub. The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford’s Oakville […]
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GM’s 2025 EV production capacity target in doubt after Barra comments
GM CEO and Chair Mary Barra speaks during an “EV Day” on March 4, 2020, at the company’s tech and design campus in Warren, Michigan, a suburb of Detroit. GM General Motors‘ goal of being capable of producing 1 million all-electric vehicles in North America by the end of 2025 in heavily in doubt, following […]
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GM reports best U.S. quarterly sales since 2020
DETROIT — General Motors reported its best quarterly sales in more than three years, including notable increases in full-size pickup trucks and all-electric vehicles. The Detroit automaker on Tuesday reported sales of 696,086 for the second quarter, up 0.6% from a year earlier and its highest quarterly units sold since the fourth quarter of 2020. Its […]
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Rivian shares soar 30% right after Volkswagen can take $1 billion stake
Workers assemble 2nd-generation R1 motor vehicles at electric powered automobile maker Rivian’s production facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters Volkswagen programs to spend up to $5 billion in electric powered automobile startup Rivian, setting up with an first investment of $1 billion. The added $4 billion is anticipated […]
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Top BofA auto analyst says Detroit automakers need to exit China as soon as possible
Employees on the assembly line produce cars in Mazda’s “Family” line of vehicles at China First Automobile Works (FAW) Group Haima Automobile Co., Ltd. April 6, 2005 in Haikou, Hainan Province, China. China Photos | Getty Images DETROIT – The traditional Detroit automakers – General Motors, Ford Motor and Stellantis – should exit the Chinese […]
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At Stellantis investor day, cost cuts and China come into focus
Stellantis CEO Carlos Tavares holds a news conference after meeting with unions, in Turin, Italy, March 31, 2022. Massimo Pinca | Reuters DETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. That’s beginning to pay dividends for the company and investors. How the trans-Atlantic […]
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