Car dealerships sell in 4 states in single-store deals
Morrie's Auto Group made its first acquisition of 2023 and entered a new part of Minnesota with the purchase of a Stellantis store this month.Morrie's, of Minnetonka, Minn., west of...
Robotaxi companies like Cruise, Waymo, Baidu seek scale
Robotaxis operate like ride-hailing services. Both incorporate data analytics to determine where rides will be needed, maximizing utilization of their platforms. Customers hail them via apps. The similarities end there....
Tesla will shoot for volume over profit: Elon Musk
Tesla missed market estimates for first-quarter total gross margin after cutting prices in the U.S. and globally. Tesla reported total gross margin of 19 percent, compared with expectations of 22...
Stellantis appoints Dutch food exec as CFO
Stellantis has hired Natalie Knight, an executive with a Dutch food retailer, as its CFO to succeed Richard Palmer, who helped orchestrate the 2021 transatlantic merger of Fiat Chrysler Automobiles...
Volkswagen ID4, Rivian EVs eligible for federal tax credits
WASHINGTON — Electric vehicles from Volkswagen Group of America and some EVs made by Rivian Automotive will qualify for tax credits under the newly effective battery sourcing rules, the two...
Tesla Q1 earnings: Net income, gross margin fall
Tesla Inc. missed market estimates for first-quarter total gross margin on Wednesday, throttled by a series of aggressive price cuts meant to spur demand in a sagging economy and fend...
Johan de Nysschen can’t seem to retire
As if all that weren't enough, the supposedly retired executive now has been pulled back to work for a vehicle tech startup, Propitious Technologies LLC. Propitious announced this month that...
Chrysler recalls certain 2021 Ram 1500s for engine stall risk
Chrysler is recalling 131,700 2021 Ram 1500 vehicles in North America equipped with 5.7L eTorque engines for an engine stall risk. The powertrain control module software may create an incorrect...
Ally Q1 earnings: Net income, auto finance income drop
Ally Financial's first-quarter net income fell 51 percent from a year earlier as it collected less revenue from financing and set aside a higher amount to cover potential losses on...
Tesla cuts prices for 6th time this year
At the same time, Tesla is expected to report auto gross margin of 23 percent Wednesday, according to a Visible Alpha survey of market analysts. A year earlier, Tesla reported...