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Tesla posts robust Q3 earnings with $2.2B net income
Oct 24, 2024 · Tesla reported a strong net income of $2.2 billion for the third quarter (Q3), reflecting a 17% increase compared to the same period last year. The company’s total revenue for the quarter grew by 8% to reach $25.2 billion. Automotive revenue slightly increased by 2%, totaling $20 billion ...
Stellantis scales back production, VW faces union backlash, …
Oct 30, 2024 · Top stories Stellantis to scale back U.S. vehicle production to align with dwindling sales projections. Read More Volkswagen faces union backlash over planned plant closures amid profit plunge. Read More Who will drive America’s future? The battle for Michigan’s automotive crown heats up. Read More Cadillac unveils highly anticipated 2026 Lyriq-V. …
Hyundai warns of slowing demand and rising competition amid …
Oct 24, 2024 · Moreover, the company’s new U.S. factory in Georgia began production earlier this month and will gradually increase output. The automaker noted that EVs produced at the factory will qualify for U.S. federal tax credits, boosting its competitiveness in the North American market.
Stellantis to file lawsuit against UAW over illegal strike ...
Oct 9, 2024 · Stellantis is preparing to file a lawsuit on Tuesday against the United Auto Workers (UAW) and UAW Local 186, contesting a strike authorization vote held last week by employees at the Denver Parts Distribution Center (PDC). The automaker argues that the vote violated the grievance procedure outlined in the 2023 UAW-Stellantis Collective Bargaining Agreement (CBA).
NADA and FTC spar over CARS rule in U.S. appeals court
Oct 10, 2024 · On October 9, a U.S. appeals court examined the challenge by the National Automobile Dealers Association (NADA) and the Texas Automobile Dealers Association against the Federal Trade Commission’s (FTC) CARS Rule. The rule, designed to curb deceptive dealership practices, such as bait-and-switch advertising and undisclosed finance and insurance (F&I) products, has become a point of contention ...
GM, Ford face investor scrutiny as EV losses persist and gasoline ...
Oct 21, 2024 · General Motors (GM) and Ford Motor are preparing to report their Q3 2024 results, with both automakers facing challenges that could affect investor sentiment. GM will release its results on October 22, followed by Ford on October 28, and both companies are under pressure to demonstrate strong performance in the gasoline-powered vehicle market while managing losses in their electric vehicle (EV ...
GM surpasses Wall Street Expectations with robust Q3 earnings
Oct 22, 2024 · General Motors (GM) exceeded Wall Street’s earnings expectations in its third quarter, reporting a net income of $3.056 billion on revenue of $48.757 billion, up 10.5% year-over-year. While net income decreased slightly by 0.3%, GM’s continued success in North America and its growing electric vehicle (EV) market has allowed the automaker to raise its 2024 earnings guidance for the third ...
GM recalls 461,839 vehicles over transmission issues
Nov 13, 2024 · General Motors (GM) is recalling 461,839 vehicles due to a transmission defect that could cause the rear wheels to lock up, increasing the risk of a crash. The recall affects several models, including certain 2020-2022 Chevrolet Silverado, GMC Sierra, 2021 Cadillac Escalade, Chevrolet Tahoe, and GMC Yukon.. The issue lies with the transmission control valve, which may fail in the affected ...
Bellavia urges dealer action against Scout's DTC sales
Nov 14, 2024 · Bellavia equates Volkswgen’s decision as “waging war against their own dealers” as it brashly leverages the imbalanced power dynamics to push Scout forward. The automaker knows that most dealers are reluctant to pursue legal recourse, and it heavily relies on that fact to avoid legal trouble.