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Tesla Model Y Will 'Disrupt' The Chinese Auto Market — Here's Why
Tuesday, January 12, 2021 - 12:22am | 700Read More...Tesla Inc’s (NASDAQ: TSLA) Model Y electric vehicle will help boost sales and emerge as a major disrupter of that country’s auto market in 2021, analysts are estimating, as reported by Reuters on Monday. What Happened: China — the world’s largest car market — saw the...
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Automakers Cut 2021 Production Targets In Wake Of Chip Supply Shortage: WSJ
Monday, January 11, 2021 - 2:31am | 419Read More...The automobile sector in the U.S. is bracing up for a drop in output due to a shortage in the supply of chips, reports the Wall Street Journal. In addition to the semiconductor shortage, automakers are also witnessing setbacks like high absenteeism and shipping woes. The WSJ noted that many of the...
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Elon Musk Says Tesla Open To Merger With Legacy Automakers But Won't Attempt Hostile Takeover
Tuesday, December 1, 2020 - 10:05pm | 381Read More...Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said Tuesday the electric vehicle maker is open to merging with a legacy carmaker in theory but such a transaction would have to be friendly and not hostile. What Happened: Musk made the disclosure in an interview with Mathias Doepfner, CEO of the German...
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GM To Recall 5.9M Vehicles Over Faulty Airbags As NHTSA Turns Down Petition
Tuesday, November 24, 2020 - 2:51am | 507Read More...General Motors Company (NYSE: GM) will recall approximately 5.9 million vehicles over faulty airbag inflaters as per orders from the National Highway Traffic Safety Administration (NHTSA), the Wall Street Journal reported Monday. The NHTSA earlier concluded that certain makes of Takata...
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6 Auto Stocks To Watch As UK Moves Up ICE Ban
Wednesday, November 18, 2020 - 4:34am | 761Read More...The Financial Times reports that the United Kingdom will move up the timeline to 2030 for a ban on gas- and diesel-powered cars. This news could impact electric vehicle and internal combustion engine (ICE) auto manufacturers in a major way. What Happened: An announcement is expected next week from...
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Buffett-Backed BYD's Q3 Earnings Up 3000% As China EV Sales Bounce Back
Thursday, October 29, 2020 - 11:42pm | 463Read More...BYD Company Limited (OTC: BYDDF) enjoyed robust earnings in the third quarter due to a bounce-back in demand for electric vehicles in China and increased sales of face masks. What Happened: The Chinese automaker backed by Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chairman Warren...
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Ford Reports 25% Rise In Q3 China Sales
Friday, October 16, 2020 - 12:49am | 457Read More...Ford Motor Company (NYSE: F) released its sales results for the third quarter in China on Thursday, ahead of the planned earnings release scheduled for Oct. 28. What Happened: The automakers reported it sold 164,352 vehicles between July and September in China, marking the largest...
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Ford Delays Escape Hybrid SUV Production To 2021 Over Fire Incidents With Related Model
Wednesday, October 14, 2020 - 3:05am | 418Read More...Ford Motor Company (NYSE: F) is delaying the production of its Escape hybrid plug-in SUV to 2021 after similar vehicles were recalled in Europe due to adverse incidents with a similar model, Bloomberg reported Monday. What Happened: The hybrid vehicle’s production was slated to...
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GM Spurts First China Quarterly Sales Growth In Two Years, With Mini Van Leading EV Sales
Monday, October 12, 2020 - 3:48am | 383Read More...General Motors Company (NYSE: GM) quarterly sales in China grew for the first time after two years, Reuters reported Tuesday. What Happened: The Detroit-based automaker’s Chinese sales rose 12% in the quarter ended September compared with a similar period a year earlier. GM reportedly...
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GM Ordered To Repay Ohio $28M In Tax Credits Over Shutting Down Lordstown Plant
Tuesday, September 29, 2020 - 3:25am | 380Read More...The Ohio Tax Credit Authority has instructed General Motors Company (NYSE: GM) to repay $28 million, an amount the company received in tax credits over the years. What Happened: The government sanction is a direct result of GM’s decision to shut down its Lordstown plant last year, the...
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Fiat Chrysler Settles SEC Charges Of Misleading Investors Over Emissions Compliance For $9.5M
Tuesday, September 29, 2020 - 12:32am | 389Read More...Fiat Chrysler Automobiles NV (NYSE: FCAU) has agreed to pay a civil penalty of $9.5 million to settle U.S. Securities and Exchange Commission allegations of violating federal securities law by sharing misleading information with investors and stakeholders. What Happened: According to the...
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'Very Capable' Team Vetted Nikola Ahead Of $2B Deal, GM CEO Says
Tuesday, September 15, 2020 - 12:34am | 343Read More...After a short seller targeted Nikola Corporation (NASDAQ: NKLA) over alleged deception, the electric car maker received a show of support from General Motors Company (NYSE: GM). What Happened: General Motors CEO Mary Barra, during a conference with RBC Capital Markets on Monday, claimed...
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Toyota Believes The Worst Is Behind It
Thursday, May 14, 2020 - 10:49am | 765Read More...Toyota Motor Corporation (NYSE: TM) gave an optimistic prognosis when reporting its fourth-quarter results, believing the worst of the economic impact from the coronavirus pandemic was over and expecting that, at its biggest markets at least, sales could rebound even by the year-end. The industry...
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Mexico Auto Production And Sales Collapses
Tuesday, May 12, 2020 - 3:29pm | 583Read More...Auto factories across Mexico were closed in April, consequently, wholesale and retail heavy-duty truck dealerships reported sales declines of 77% compared to the same period in 2019. Only 893 heavy-duty trucks were sold at the wholesale level in Mexico in April, compared with 3,865 trucks sold...
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Major US Automakers Plan To Return To Work May 18 With Enhanced Safety Measures In Place
Sunday, May 10, 2020 - 11:50pm | 514Read More...Automakers such as General Motors (NYSE: GM), Ford Motor Company (NYSE: F), and Tesla (NASDAQ: TSLA), are planning to reopen factories with enhanced safety precautions. What Happened General Motors workers in Flint, Saginaw, and Bay City, Michigan, are likely to return to work next week...
