by Michael Strong | Jul 10, 2020
The faith of investors in electric vehicles keeps on growing with Rivian being the latest to secure a bundle of cash: $2.5 billion led by T. Rowe Price. Rivian’s influx of new funds comes just a day after Fisker Inc. revealed it received $50 million in new funding to...
by Michael Strong | Jul 9, 2020
Clearly the pandemic has changed the world as we know it and in the auto industry some executives have noted the changes are likely to have long-term ramifications, especially when it comes to sales — and now there’s hard evidence to support that notion. A new report...
by Joseph Szczesny | Jul 9, 2020
General Motors’ lawsuit claiming rival Fiat Chrysler had corrupted officials of the United Auto Workers union in a bid to gain a competitive advantage, has been dismissed by a federal judge in Detroit. GM filed the high-profile lawsuit last November, but Judge Paul...
by Paul A. Eisenstein | Jul 9, 2020
Automakers are spending tens of billions of dollars in their drive to bring autonomous vehicle technology to fruition and if claims made by CEO Elon Musk are on target, Tesla could be on the verge of delivering the world’s first fully driverless vehicle by the end of...
by Paul A. Eisenstein | Jul 8, 2020
Steve Carlisle, who has served as head of Cadillac for the past two years, has been named the new president of General Motors North American operations. The 58-year-old Carlisle replaces Barry Engle, who was said to be seeking to pursue other opportunities. When he...
by Michael Strong | Jul 7, 2020
While new vehicle sales in the U.S. continue to lag due to the coronavirus pandemic, used-car sales are seeing much better results during the same time frame. Last month, new car sales fell nearly 30% while sales of used vehicles jumped 17% above the pre-pandemic...
by Joseph Szczesny | Jul 7, 2020
General Motors Co. appears to have won a small victory in its legal battle with Fiat Chrysler Automobiles N.V. as the U.S. Sixth Circuit Court of Appeals accepted GM’s petition to set aside a judge’s order mandating GM CEO Mary Barra and FCA CEO Mike Manley meet face...
by Michael Strong | Jul 6, 2020
Toyota Motor Co. is now telling eligible employees that they can work from home permanently as the company looks at ways to keep employees safe during the coronavirus pandemic. The move, which was reported by Nippon News, by the Japanese automaker makes it the first...
by Michael Strong | Jul 3, 2020
Tesla may have the biggest market cap in the automotive industry right now, but is the value of an carmaker determined by stock price alone? At least one group believes so, and it thinks that Toyota is still No. 1 — and Tesla is No. 4. Market research company Kantar...
by Joseph Szczesny | Jul 2, 2020
The second day of sales results saw the final member of the Big Three – Ford – report second quarter results that mimicked those of their Detroit-based rivals: down. Ford’s overall Q2 sales were down 33.3%, the company revealed, adding that its retail business...
by Paul A. Eisenstein | Jul 1, 2020
Nikola Motors, the Phoenix-based startup that plans to build a mix of zero-emission trucks, has begun taking advance reservations for the Badger pickup. A flood of new battery-based trucks are expected to be coming to market over the next couple years, from the...
by Michael Strong | Jul 1, 2020
The extended run up of Tesla’s stock carried it past its Detroit rivals some time ago, but the push into its current territory above $1,000 a share has helped it topple the “king” – Toyota – as the world’s most valuable automaker. The move could be seen by many,...
