Tag: Automotive

General Motors beat Wall Street’s third-quarter expectations on Tuesday, as it battles through ongoing labor strikes by the United Auto Workers union.

Στα 126,5 εκατ. ευρώ ανήλθαν οι πωλήσεις του ομίλου Μοτοδυναμική στο εννεάμηνο 2023, σημειώνοντας αύξηση κατά 23,4% σε σύγκριση με την αντίστοιχη περίοδο του 2022.

Oct 23 (Reuters) – Volkswagen shares fell more than 3% to their lowest since April 2020 on Monday after the German carmaker cut its profit margin outlook for the current year, disappointing some investors.

Oct 20 (Reuters) – New car sales in the European Union rose 9.2% in September, helped by a jump in sales of electric and hybrid vehicles, which together accounted for more than half of car sales last month, industry data showed on Friday.

Tesla-4.78%stock was dropping after weak earnings and downbeat comments from CEO Elon Musk. Wall Street wasn’t feeling very bullish after the report.

SHANGHAI, Oct 18 (Reuters) – Chinese electric vehicle maker Nio is considering building a dealer network in Europe to speed up sales growth, three sources familiar with the matter said, even as China’s EVs face potential tariffs in the region.

BEIJING, Oct 11 (Reuters) – Car sales in China increased 4.7 percent in September from the same month a year ago, official data showed, boosted by more people buying discounted and new models ahead of key holidays.

STOCKHOLM, Oct 5 (Reuters) – Volvo Cars’ (VOLCARb.ST) sales rose 25% in September from a year earlier to 61,666 cars as sales grew in China as well as in the U.S. and Europe, the Sweden-based group said on Thursday.

Tesla TSLA +0.55% quietly has relaunched a rear-wheel-drive version of its popular Model Y crossover-sized vehicle in the U.S., and at a lower price.

There is an electric vehicle price war in China. It’s working.

SHANGHAI, Sept 28 (Reuters) – Nio (9866.HK) has held exploratory talks with Mercedes-Benz (MBGn.DE) for a tie-up that would see the German automaker invest in the Chinese electric vehicle startup in exchange for technology, two people with direct knowledge of the matter said.

Shares of CarMax KMX +1.84% were tumbling in premarket trading Thursday after the user-car seller reported fiscal second-quarter revenue that declined sharply from a year earlier.

Vietnamese electric vehicle start-up VinFast Auto  posted a big second-quarter loss. Guidance for the full year leaves some unanswered questions, too. 

The UAW is threatening to expand its strike on Friday against Big Three automakers General Motors , Ford Motor , and Chrysler parent Stellantis STLA , and many observers are assuming it’s a done deal. 

Chinese electric-vehicle maker NIO  said it was offering $1 billion of convertible bonds, joining other EV companies Nikola and Fisker  in raising funds in this manner.

The United Auto Workers will strike at more plants if Ford , General Motors , and Stellantis fail to make “serious progress” toward an agreement by Friday, the union’s leader warned late Monday.

AutoZone easily beat earnings and sales estimates for its fiscal fourth quarter but the stock was falling after sales in the company’s domestic commercial division came up short.

The United Auto Workers returned to the bargaining table with Detroit auto makers Saturday after union leaders took the day Friday to join picket lines at three plants where workers are on strike.

United Auto Workers President Shawn Fain announced a targeted strike plan Wednesday if the union decides to walk out at General Motors, Ford and Stellantis after a contract expiration late Thursday.

The European Commission, the executive arm of the European Union, on Wednesday launched an investigation into subsidies given to electric vehicle makers in China, according to President Ursula von der Leyen.