Automotive industry
Ford stock took a significant hit on Thursday, plummeting 18% to its lowest point since January, as the automaker's quarterly earnings fell short of Wall Street's expectations. High warranty costs and a $1.14 billion loss in its electric vehicle (EV) division weighed heavily on the
Automotive industry
Penske Automotive Group, a diversified international transportation services company, has announced the acquisition of Bill Brown Ford in southeastern Michigan, with estimated annualized revenue of $550 million. This acquisition is part of the company's expansion strategy in the Midwest, aiming to cultivate partnerships within the community and empower
Automobile industry
Tesla, Inc (NASDAQ:TSLA) has made a significant comeback in the eyes of Wedbush, the tech-focused investment bank, after the company's second-quarter delivery data revealed a higher-than-expected 443,956 vehicles shipped globally. This marks a 4.7% decline from the same period last year but a 5,654-unit
Automotive industry
Elon Musk saw his net worth skyrocket by $12 billion on Tuesday, fueled by Tesla's remarkable second-quarter delivery report and subsequent stock surge. The electric vehicle maker's shares have climbed nearly 25% since dipping below $183 on June 24, pushing Musk's net worth to
Automotive industry
Tesla's electric vehicles sales experienced a surprising boost in the three months to the end of June, as the company delivered 443,956 vehicles worldwide, surpassing the 438,000 predicted by analysts for the same period. This achievement, coupled with a 4.8 per cent year-on-year decline, sent
Automobile industry
A British-led research team has released a scathing report revealing that numerous diesel car manufacturers, including BMW, Ford, Mazda, and Mercedes, are emitting toxic fumes at levels up to 7 times the legal limit in the UK. The study, which monitored 300 new diesel cars over 20 days, found that
Automobile industry
The Volkswagen emissions testing scandal has intensified, with the Paris prosecutor opening a preliminary inquiry into the carmaker for suspected aggravated deception. The investigation, instigated by Pierre Serne, vice-president of the region Ile-de-France responsible for transport, has raised concerns about the integrity of Volkswagen's diesel vehicles. Meanwhile, the
Automotive industry
South Korean authorities have decided to re-investigate the fuel efficiency of diesel cars made by Volkswagen, which has been embroiled in a massive emission fabrication scandal. The move comes after the German automaker was found to have intentionally cheated on U.S. air-pollution tests, affecting an estimated 11 million cars
Automotive industry
Nissan's Chairman Carlos Ghosn has once again taken the lead in revitalizing the company, demonstrating its commitment to the mid-sized sedan market in the United States. With sales of 350,000 units per year in the US, the Altima remains a crucial segment for Nissan, despite Americans'
Automobile industry
The hybrid electric vehicles market in the US is expected to experience significant growth, with a compound annual growth rate (CAGR) of over 14% from 2015 to 2019, as per a new report by Technavio. The market is driven by factors such as high conversion efficiency of Li-ion-fueled HEVs, decreasing
Automobile industry
U.S. regulators at the National Highway Traffic Safety Administration (NHTSA) have expressed concerns that the recent cybersecurity issues affecting Fiat Chrysler Automobiles could spread to other automakers. Meanwhile, Facebook announced plans to test solar-powered drones capable of delivering internet services to remote areas, and other news stories highlight the
Automobiles
In a move to cater to the evolving needs of the automotive industry, General Motors (GM) continues to develop new technologies and enhance its engine lineup. The GotEngines company, a leading provider of used replacement engines, has added the GM 3.8 engine inventory to its online offerings. This new
