Porsche shares fall as automaker cuts 2024 outlook on aluminium alloy shortage

The Porsche logo, the German automobile manufacturer specialising in high-performance luxury sports cars, SUVs, and sedans, headquartered in Stuttgart and part of the Volkswagen group, captured in their Porsche Zentrum Zrich shop, their main center in the biggest Swiss city, in Zrich on November 13, 2023, in Zrich, Switzerland. Joan Cros | Nurphoto | Getty … Read more

Tesla reports second-quarter earnings Tuesday. Investors want a robotaxi update

Elon Musk speaking during the Tesla Annual Shareholder’s meeting in Austin, Texas on June 13th, 2024. Source: Tesla Inc. Tesla will report second-quarter earnings after the bell on Tuesday. The company’s vehicle deliveries report on July 2 was better than analysts feared, but still represented a decline from the previous year. The earnings call on … Read more

GM, Ford, Stellantis second-quarter earnings: What analysts expect

General Motors CEO Mary Barra, center, at the New York Stock Exchange, Nov. 17, 2022. Source: NYSE DETROIT — Wall Street expects General Motors to be the standout among the traditional Detroit automakers when they report second-quarter results this week, with sales and vehicle prices stable during the first half of the year for America’s … Read more

Tesla and other EV makers like Volvo are betting big on gigacasting

In the race to make EVs cheaper and more profitable, companies are pulling just about every lever they can. But while improving battery technology often hogs the spotlight, automakers are investing heavily into changing how the rest of the car is made. One such method is megacasting, or gigacasting, as Tesla calls it. Gigacasting is … Read more

Why heavy discounts on leases could mean losses for automakers

Automakers are turning to aggressive discounts to boost stagnating electric vehicle sales, especially on leases. Some EVs, and some EV buyers, are not eligible for the $7,500 federal tax credit. High income buyers can’t receive the credit, nor can cars made outside the United States, for example. However, leasing offers a loophole that bypasses all … Read more

‘Loophole’ may get you a $7,500 tax credit for leasing an EV

Maskot | Maskot | Getty Images Buying a new electric vehicle isn’t the only way consumers can access a $7,500 federal EV tax credit. They may also be able to get the money by leasing a car. The Inflation Reduction Act, which President Joe Biden signed in 2022, contained various rules related to consumer tax … Read more

Ford to expand large truck production to Canada

2023 Ford Super Duty F-350 Limited Ford DETROIT – Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub. The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford’s Oakville … Read more

Volvo Cars jumps 7% after reporting a record core operating profit

A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024. Cfoto | Future Publishing | Getty Images Shares of Volvo Cars rose sharply on Thursday after the company reported a jump in annual operating profit for the second quarter. By 9:04 … Read more

GM to up production of high-output V8 SUV

2025 Cadillac Escalade V-Series SUV Cadillac DETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 model year. The new SUV features a standard 55-inch diagonal display across the dash, including a passenger-only screen; an “executive package” for the second … Read more

Trump’s VP pick Vance could have a market impact if they win—Beware Meta and Alphabet

Wall Street is weighing in on how Donald Trump ‘s pick for vice president could potentially influence some major policy decisions if the former president wins reelection. Trump named Ohio Senator J.D. Vance as his running mate Monday. Best known as the author of “Hillbilly Elegy,” a memoir that recounts his upbringing, Vance is also … Read more