Tag: Automotive

CarMax stock was rising Friday after the used-car retailer posted fiscal first-quarter earnings that beat analysts’ estimates but said macroeconomic pressures continue to have a negative impact on sales.

Automotive companies in China sold more cars than their U.S. counterparts for the first time last year, boosted by BYD
and growth in emerging markets, researcher Jato Dynamics said in a report published Thursday.

Tesla’s largest outside investor Vanguard said it voted in favor of CEO Elon Musk’s $56 billion pay package, citing the company’s performance, contributing to the passage of the record-setting arrangement on Thursday.

Shares of Tesla popped in premarket trading, after Elon Musk said shareholders are set to approve his controversial $56 billion pay package and a resolution to move the electric carmaker’s incorporation to Texas.

Tesla on Thursday said it will likely increase the Europe prices of its Model 3 vehicle from July 1 after the European Union said it could impose provisional higher tariffs on electric cars imported from China.

Shares of European carmakers fell on Wednesday following a report that some of the world’s largest auto manufacturers face possible lawsuits in Britain for allegedly cheating emissions tests.

Τη στρατηγική συνεργασία τους ανακοίνωσαν ο Όμιλος Autohellas, εισαγωγέας αυτοκινήτων, διανομέας και πάροχος υπηρεσιών κινητικότητας στην Ελλάδα, με την κινεζική εταιρεία XPENG, που κατασκευάζει Smart ηλεκτρικά αυτοκίνητα.

General Motors is returning more cash to shareholders. Investors were pleased.

 Rental car firm Hertz is weighing a sale of at least $700 million in secured debt and a convertible notes offering, as it looks to shore up its balance sheet, Bloomberg News reported on Thursday, citing people with knowledge of the matter.

Shares of Chinese electric vehicle maker NIO were lower after the company reported weaker-than-expected sales. Things are improving though, and the car maker expects better results in the second quarter.

Billionaire investor Ron Baron, longtime Tesla bull and shareholder, wrote an open letter in support of CEO Elon Musk’s controversial $56 billion pay package.

Volvo Cars’ sales rose to 68,034 cars in May, up 13% from a year earlier, buoyed by a 27% jump in Europe and a strong performance by its fully electric EX30, the group said on Wednesday.

Electric vehicle sales are recovering in China. That’s some good news for automotive investors starting a new month. Hybrids, however, are still outpacing all-electric vehicle sales. That can make the coming months tougher on all-electric EV giant Tesla .

Η Τακτική Γενική Συνέλευση των Μετόχων της Autohellas αποφάσισε την έγκριση προγράμματος απόκτησης ιδίων μετοχών, μέσω του Χρηματιστηρίου Αθηνών

Tesla has cut output of its best-selling Model Y electric car by a double-digit percentage number at its Shanghai plant since March, according to industry data and a source.

Lucid Group will reduce its workforce in the United States by 6%, or around 400 employees, it said on Friday, becoming the latest electric-vehicle maker to cut jobs as the industry grapples with slower growth.

Τα αποτελέσματα του α’ τριμήνου του 2024 ανακοινώνει η Autohellas, με τον ενοποιημένο Κύκλο εργασιών να ανέρχεται σε €217,1 εκατ. έναντι €221,6 εκατ. το 2023, και το EBITDA να διαμορφώνεται στα €51,5 εκατ. έναντι €47,8 εκατ. το αντίστοιχο περσινό τρίμηνο.

AutoZone beat estimates for third-quarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models.

Στο 1,518 εκατ. ευρώ ανήλθαν το α’ τρίμηνο του έτους τα καθαρά κέρδη της Πέτρος Πετρόπουλος έναντι 1,662 εκατ. ευρώ την αντίστοιχη περίοδο πέρυσι. Οι πωλήσεις του Ομίλου αυξήθηκαν κατά 29,1% και ανήλθαν σε 50,1 εκατ. ευρώ από 38,8 εκατ. ευρώ το 2023.

Li Auto stock was falling after weaker-than-expected earnings. Demand for its all-electric vehicles isn’t the main problem. Car pricing is.