The Ford F-150 Lightning Electric Truck. John Tlumacki | Boston Globe | Getty Images DETROIT — Ford Motor is increasing the price of some 2024 F-150 Lightning models, while lowering the costs of its most expensive models. The Detroit automaker confirmed Wednesday that new starting prices for the pickup will range from $54,995 for an … Read more
C.E.O. of Tesla, Chief Engineer of SpaceX and C.T.O. of X Elon Musk takes the stage during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty Images Tesla is hiring a Nordic public policy expert as the U.S. electric vehicle giant’s bitter dispute with … Read more
Maskot | Maskot | Getty Images Both new and used car purchases were expensive for drivers this year, as limited inventory and high borrowing costs affected affordability. “Interest rates have taken such a toll on purchasing power,” said Ivan Drury, director of insights at Edmunds. Yet, consumers might begin to see lower prices in 2024, … Read more
Security gate outside the Tesla Motors Gigafactory site east of Reno, Nevada. David Calvert | The Washington Post | Getty Images Tesla has informed workers at its battery factory in Sparks, Nevada, that some set-rate hourly workers there will see pay increases around 10% starting in early January 2024. According to internal materials seen by … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. U.S. stocks climbed higher Thursday morning following three-straight days of declines, with the Magnificent Seven outperforming. The S & P 500 was up 0.7%, while the Nasdaq Composite gained … Read more
Electric vehicle demand could take a hit next year with several models expected to lose crucial tax credits as the U.S. moves to cut China out of its battery supply chain, according to top analysts. The Treasury and Energy Departments earlier this month laid out plans to end U.S. dependence on China and cajole carmakers … Read more
DETROIT — General Motors‘ plans to diversify its business through trendy industries such as ridesharing and other “mobility” ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016. Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next. The unit has quickly gone … Read more
Ford workers produce the electric F-150 Lightning pickup at the automaker’s Ford Rouge Electric Vehicle Center on Dec. 13, 2022. Michael Wayland | CNBC DETROIT — Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year, marking a major reversal after the automaker significantly increased plant capacity for … Read more
Ford Motor ‘s decision to cut production of its electric pick-up allows the automaker to refocus its strategy around its highly profitable hybrid vehicles, which in turn should boost its underperforming stock. Ford said Monday it’s cutting in half planned production of its all-electric F-150 Lightning pick-up truck next year due to moderating consumer demand. … Read more
United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023. Screenshot DETROIT — The United Auto Workers has filed unfair labor practice charges with the National Labor Relations Board against Honda Motor, Hyundai Motor and Volkswagen, accusing the automakers of unlawfully interfering … Read more
