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Tesla Q1 Deliveries To Beat Street Estimates, Says Wedbush
Tuesday, March 30, 2021 - 9:35pm | 464Read More...Tesla Inc (NASDAQ: TSLA) will beat Wall Street expectations of 170,000 deliveries for the first quarter and restore momentum for the company’s stock and electric vehicle sector, according to Wedbush analyst Daniel Ives. The Tesla Analyst: Ives maintained his $950 price target and Neutral...
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Lucid, Rivian Sued In Illinois Over Direct Sales Model
Tuesday, March 30, 2021 - 4:01am | 663Read More...A lawsuit has been filed against electric vehicle startups Rivian Automotive and Lucid Motors in Illinois for selling vehicles directly to consumers in the state. What Happened: The lawsuit was filed by the Illinois Automobile Dealers Association, the Chicago Automobile Trade Association, and other...
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US Auto Sales Expected To See Substantial Rise In March Despite Chip Shortage
Friday, March 26, 2021 - 5:01am | 590Read More...U.S. auto sales are expected to rise in March, despite brutal weather conditions and semiconductor chip shortages that have forced automakers to cut production, auto industry consultants J.D. Power and LMC automotive forecast on Friday. What Happened: Retail sales of new vehicles are estimated to...
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4 SPAC Mergers: What The KBLM, ACAM, PANA And SMMC Deals Mean For Investors
Sunday, October 25, 2020 - 1:24pm | 1001Read More...Last week saw continued momentum in special purpose acquisition company (SPAC) mergers, as KBL Merger (NASDAQ: KBLM), Acamar Partners Acquisition Corp. (NASDAQ: ACAM), Panacea Acquisition Corp. (NYSE: PANA) and South Mountain Merger Corp. (NASDAQ: SMMC) each announced business combination...
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Detroit's Big 3 Report Sales Declines, But Outperform Expectations
Friday, April 3, 2020 - 12:06pm | 736Read More...U.S. auto producers announced Q1 sales figures this week, and as expected, sales numbers fell due to the COVID-19 outbreak. A strong year start was fully offset by terrible last month's results. According to industry research firm Wards Intelligence's data, approximately 1 million light...
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Retail Sales Are Down For Big-Ticket Items, But Expectations Are High For Holiday Spending
Thursday, October 17, 2019 - 4:45pm | 661Read More...U.S. retail sales were down for the first time in seven months in September, but the move was mostly driven by declines in big-ticket purchases like cars. The Commerce Department said Wednesday that retail sales were down 0.3% in September, led by a 0.9% decline in auto sales. It was the first...
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New Car Prices Rise An Anemic 0.6% Year-Over-Year In September As Retail Demand Weakens
Tuesday, October 1, 2019 - 11:18am | 294Read More...A Tuesday report from valuation analysts at Kelley Blue Book is a testament to the lukewarm showing of the auto market. Average new vehicle prices increased merely $262, or 0.6% year-over-year, in September, the publication said. The month-over-month performance revealed an increase...
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After Resilient Q3, Positive Tone As Fed Speakers Awaited, LEN Earnings Tomorrow
Tuesday, October 1, 2019 - 9:51am | 1624Read More...To start the week, a key manufacturing index fell to its lowest level since 2009. Precious metals, including gold, silver and particularly palladium, took it on the chin. Crude oil fell 3% to below where it was before the attack on Saudi oil fields. Despite all that, the stock market rallied Monday...
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Automakers Post Mixed June Sales Results; GM Eyes Potential Interest Rate Cut
Tuesday, July 2, 2019 - 2:22pm | 506Read More...The big carmakers had mixed sales results in June, with the market showing continued demand for light trucks and SUVs, but declines in sales of passenger cars. The nameplates that have made a push into truck sales were the better performers in June. Fiat Chrysler Automobiles NV (NYSE:...
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With Jobs Report Ahead, Focus Turns To Economic Data, Auto Sales, Tesla Output
Tuesday, July 2, 2019 - 10:06am | 2240Read More...Following Monday’s flight to new highs as trade tensions eased, the markets face a holiday-shortened week highlighted by Friday’s jobs report. It’s unclear if there’s another catalyst before then to really spark much follow-through on yesterday’s gains. Tuesday’s...
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Used Truck Sales Dropped 5 Percent In April, Down 13 Percent From A Year Earlier
Wednesday, May 15, 2019 - 1:58pm | 223Read More...Preliminary used truck sales in the heaviest weight segment – Class 8 – fell 13 percent in April compared with the same month a year earlier. Used truck sales dropped 5 percent in April compared with a 25 percent uptick in sales in the previous month. The average price of a used truck...
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Morgan Stanley, Wedbush Cautious On Carvana
Tuesday, April 2, 2019 - 4:17pm | 526Read More...Shares in online car retailer Carvana Co (NYSE: CVNA) have traded up recently, but sell-side analysts said Tuesday that investors may be buying without kicking the tires. The Analysts Morgan Stanley’s Armintas Sinkevicius reiterated an Underweight rating on Carvana with a $21 price target....
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Today's Pickup: Auto Sales Declining, But Consumer Confidence Remains
Tuesday, April 2, 2019 - 1:56pm | 897Read More...Good day, Consumers remain willing to purchase new vehicles, according to Patrick Manzi, senior economist with the National Automobile Dealers Association (NADA), even as first-quarter sales came in lower-than-expected due to several weather-related events. The first quarter of 2019 will...
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January Auto Sales Freeze Amid Poor Weather, Federal Shutdown
Monday, February 4, 2019 - 6:00pm | 584Read More...January was a rough month for American automakers, with waning consumer confidence chipping at the sector’s foundation. “Record cold weather during the last week of January likely had a negative impact on sales,” Cox Automotive senior economist Charlie Chesbrough said in a report...
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Auto Sales To Dip Slightly In 2019 But Remain Strong, Says Dealer Group
Monday, January 14, 2019 - 1:38pm | 1076Read More...The top trade group for automobile dealers is forecasting another year of strong new car and light truck sales, it announced ahead of the opening of the North American International Auto Show in Detroit. The National Automobile Dealers Association (NADA) says sales for 2019 will approach 16.8...
