Find the latest automotive news on all mainstream car makers, auto shows, motorsports, auctions and more
Shares of electric vehicle maker Lucid Group were down more than 10% Wednesday following a downgrade of the company’s stock by Bank of America and the abrupt departure of CEO Peter Rawlinson. Rawlinson, who also served as chief technology officer at the company, was a driving force in its operations to this point, including the […]
After abrupt departure of Lucid CEO, here are the EV maker's top priorities Read More »
DETROIT – General Motors is raising its quarterly dividend and initiating a new $6 billion share repurchase program as the company attempts to reward investors amid slowing industry sales and profits. GM announced Wednesday it is increasing its quarterly dividend by 25% to 15 cents per share — matching that of crosstown rival Ford Motor.
GM raises quarterly dividend, initiates $6 billion stock buyback Read More »
Crisis-stricken auto giant Stellantis on Wednesday said it sees return to revenue growth this year after a steep drop in 2024 earnings. The mutlinational conglomerate, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, posted full-year 2024 net profit of 5.5 billion euros ($5.77 billion), down 70% from 18.6 billion euros across full-year 2023. Analysts had expected
Electric vehicle maker Lucid Group on Tuesday said CEO Peter Rawlinson has stepped down as the company expects to more than double vehicle production this year to 20,000 units. Lucid said Marc Winterhoff, the company’s chief operating officer, has taken over as interim CEO. Rawlinson will serve as a “strategic technical advisor to the chairman
Lucid CEO steps down; EV maker plans to more than double production in 2025 Read More »
Tesla’s postelection pop has almost disappeared. Shares of the electric vehicle maker plunged more than 8% on Tuesday, pushing the company’s market cap below $1 trillion and to its lowest since Nov. 7, which was two days after President Donald Trump’s election victory. The stock has plummeted 25% to start the year, while the Nasdaq
Tesla's market cap sinks below $1 trillion as stock slumps more than 8% Read More »
The Trump administration’s tariff policies may raise auto insurance premiums for motorists, according to a new Insurify analysis. This at a time when drivers continue to see costs soar amid pandemic-era inflation. A 25% tariff on imports from Canada and Mexico — which may take effect as soon as March — would increase annual full-coverage
Here's why Trump tariffs may raise your car insurance premiums Read More »
Tesla is voluntarily recalling 376,241vehicles in the U.S. to correct an issue with failing power-assisted steering systems, according to records posted to the website of the U.S. National Highway Traffic Safety Administration. In a safety recall report posted on the NHTSA website, Tesla said the recall includes Model 3 and Model Y vehicles that were
Rivian Automotive beat Wall Street’s fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025. The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the
Carvana topped Wall Street’s top- and bottom-line expectations for the fourth quarter while guiding for another “strong” year in 2025. Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including
Carvana expects another 'strong' year after topping fourth-quarter expectations Read More »
The Trump administration on Wednesday nixed federal approval of New York’s “congestion pricing” automobile tolls, which had been instituted just last month to raise funds for the region’s aging mass transit system. In a letter to New York Gov. Kathy Hochul, U.S. Transportation Secretary Sean Duffy said the federal government has jurisdiction over these highways leading to
Trump administration terminates approval of New York City congestion pricing Read More »
