Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid DETROIT — The auto industry has an addiction. It’s a “capital junkie” that’s been on a yearslong binge of unprecedented spending on all-electric …
New Ford F-150 trucks go through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT — The automotive industry has become a crucial topic during the 2024 presidential election as Michigan — home of the Motor City and …
Here are Tuesday’s biggest calls on Wall Street: Stephens initiates Valvoline as overweight Stephens said the automotive retailer is well positioned. “We are initiating coverage on Valvoline Inc . With an Overweight rating and a $49 price target.” Evercore ISI adds a tactical outperform on Alphabet Evercore said it’s bullish …
Fronts of the GMC Sierra Denali,Tesla Cybertruck and Ford F-150 Lightning EVs (left to right). Michael Wayland / CNBC DETROIT – Tesla, General Motors, Rivian Automotive and Ford Motor have created a new market in the U.S. automotive industry of pricey, powerful and precarious electric pickup trucks that sell for $100,000 …
A Tesla Cybertruck in front of a graffiti mural on Aug. 28, 2024 in Detroit. Michael Wayland / CNBC DETROIT – Spaceship. Dream car. UFO. Dumpster. Cool. Stupid. Phenomenal. Abomination. Those were all words used to describe the Tesla Cybertruck during a 24-hour rental of the vehicle in metropolitan Detroit. …
2024 Sierra EV Denali Edition 1 Source: General Motors MILFORD, Mich. — General Motors’ premium GMC brand wants to become the leader in all-electric truck sales for U.S. consumers as it launches its new electric Sierra pickup. The Sierra EV joins electric versions of the Hummer, including an SUV and …
2023 Ford Super Duty F-350 Limited Ford DETROIT — A once “dirty” word, and business, in the automotive industry has become a multibillion-dollar battleground for U.S. automakers, led by Ford Motor. The Dearborn, Michigan-based automaker has turned its fleet business, which includes sales to commercial, government and rental customers, into …
Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it’s bullish on Tesla for the long term. “We believe TSLA is very well positioned to deliver robust multi-year growth in 2025-27+. In the near term, the revamped Model 3 and upcoming Model …
The 2024 Buick Envista. GM DETROIT — General Motors on Tuesday reported a 1.5% decline in first-quarter U.S. vehicle sales compared to a year ago, as the overall auto industry normalizes after years of disruptions and volatile results. The Detroit automaker said the decline to 594,233 vehicles sold during the …
Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race. The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup that’s widely viewed as a front-runner in generative artificial intelligence. Its …