Tag: Automotive

Shares of Chinese automaker BYD listed in China jump more than 5% Tuesday, a day after posting a stellar jump in first half profit.

Mobileye  picked up more self-driving car business on Friday as the EV start-up Polestar Automotive  selected the company to provide the “Mobileye Chauffeur” on its Polestar 4. The price point is worth noting.

Earnings from auto parts distributors such as Advance Auto Parts just might be the canary in the coal mine. There is a limit to what people can pay to buy and maintain their vehicles.

Tesla lowered the production target of its German plant to 4,350 a week in July and August after hitting 5,000 a week in March, and plans to reduce it further, according to a Business Insider report citing internal documents and anonymous sources.

Chinese EV maker Xpeng expects cost cuts and its Volkswagen partnership to boost the firm’s bottom line, its co-president told CNBC on Monday.

Xpeng on Friday reported a wider-than-expected loss in the second quarter, sending the Chinese electric car maker’s shares down more than 7% in premarket U.S. trade.

French car parts company Valeo announced on Friday an agreement to sell its propulsion systems business in Russia to Russian company NPK Avtopribor.

Tesla has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday.

Tesla rolled out cheaper versions of its Model S and Model X vehicles in the U.S. as competition in the electric vehicle space continues to ramp up.

Συνολικά 22.044 αυτοκίνητα (καινούργια ή μεταχειρισμένα εξωτερικού) κυκλοφόρησαν για πρώτη φορά τον Ιούλιο, καταγράφοντας αύξηση 7,8% σε σχέση με τον αντίστοιχο περυσινό μήνα, σύμφωνα με τα στοιχεία που ανακοίνωσε σήμερα η Ελληνική Στατιστική Αρχή.

Ισχυρή άνοδο κατέγραψαν τα οικονομικά μεγέθη του ομίλου Π. Πετρόπουλος στο α’ εξάμηνο της τρέχουσας οικονομικής χρήσης, όπως προκύπτει από τα στοιχεία που δημοσίευσε η εταιρεία.

Japan’s Honda Motor reported a 78% rise in quarterly profit on Wednesday, boosted by increased sales, especially in the North American market, and a weaker yen.

China’s passenger vehicle sales fell for a second month in July, as discounts and government support measures failed to persuade consumers wary of buying cars amid a sputtering economy and a prolonged slump in the housing market.

Fisker  earnings, reported Friday morning, topped analyst expectations, but that was the extent of the good news. Sales were far worse than Wall Street projected.

Ford Motor Co. F, -3.42% has acknowledged in a letter to the National Highway Safety Administration a safety recall of 870,701 F-150 trucks equipped with a single exhaust system. Ford said the rear axle housing may damage the wiring harness, causing the electric parking brake to activate unexpectedly while driving, increasing the risk of a crash.

Ford Motor on Thursday raised its 2023 guidance after second-quarter earnings significantly beat Wall Street expectations, boosted by strong pricing and demand for the automaker’s traditional vehicles.

BERLIN, July 27 (Reuters) – Volkswagen (VOWG_p.DE) on Thursday cut its full year sales target and pledged to improve its cash position in the second half by hiking prices and cutting costs as the German carmaker seeks to fend off tough competition in China, its top market.

Carmaker Stellantis on Wednesday posted a 12% year-on-year jump in net revenues and 37% spike in net profit for the first half of 2023, boosted by higher shipments.

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TOKYO/PARIS, July 26 (Reuters) – Nissan will invest up to $663 million in Renault’s (RENA.PA) new electric vehicle unit, the automakers said on Wednesday, as they finalised terms of their restructured partnership after months of negotiation clouded by tension.

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General Motors is raising its 2023 guidance for a second time this year after the automaker reported second-quarter results Tuesday that were up sharply year over year.

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