Rivian and Lucid are both electric vehicle manufacturers, but that’s where the comparisons end when looking at each company’s third-quarter earnings results. Rivian beat the street’s expectations as Lucid fell short. Headlight.News has details.
Michael Strong
GM Laying Off 3,400 Workers Due to Expected EV Sales Drop
The impact of end of federal EV tax credits is being felt in many areas of the auto industry. It reached the factory floors at four General Motors-owned plants in three states as more than 3,400 workers were laid off due to the expected fall in EV sales tied to the end of the $7,500 credit Sept. 30. Find out more at Headlight.News.
No October Surprise: EV Sales Nosedive
Automakers offered plenty of incentives, but without $7,500 in federal government tax credits, sales of new electric vehicles — predictably — flatlined in October. J.D. Power & Associates also estimates sales of new EVs were less than half of the artificially inflated numbers from September. Find out more at Headlight.News.
Americans Getting Overwhelmed by Auto Loans
Americans are swimming in automotive debt — and an increasing number are underwater on those loans. According to a new study, the average gap between what consumers owe and what they’re vehicles are worth at trade is growing. Find out what it means at Headlight.News.
Ford Sets New Record, Beats Street’s Q3 Estimates
Ford set a new revenue record during the third quarter, and beat Wall Street predictions for their results. However, supplier issues forced the automaker to cut its full-year earnings guidance. Get details at Headlight.News.
No Tax Credit? Give Me Gas, Americans Say
Automakers are making adjustments — or massive changes — to their electric vehicle plans after the $7,500 federal tax credit for EVs ended last month. Unsurprisingly, gas vehicles are coming back into vogue. Find out more at Headlight.News.
Tesla Q3 Profits Take a 40% Hit Despite Revenue, Global Delivery Records
Tesla revealed its third-quarter operating income dropped 40% compared to the year-ago period despite setting a new record for deliveries and revenue during the period. Officials cited a litany of reasons, but the biggest drivers appear to be tied to tariffs and sales mix. Check out the story at Headlight.News.
Americans Need to Work More to Afford a New Car
The price of that new car, truck or — most likely — SUV you’ve been looking at rose a bit in September. And while it’s easy to look at the window sticker to see how much, there’s another way that hits home: how long will it take you to buy it. Well, last month it took a little more time. Get details at Headlight.News.
GM Turns Q3 Profit Despite $1.6B Charge Resulting from EV Plans
General Motors looked to be the leader in the electric vehicle market by investing heavily in the segment, and that push crimped its Q3 earnings numbers as it took a $1.6 billion charge to offset investments in its EV operations during the period. However, the company still reported a profit, and investors are happy. Get details at Headlight.News.
A Week With: 2025 Lexus LX 700h Ultra Luxury
Just when you think a full-size SUV cannot get more luxurious — less like an SUV — Lexus says, “Hold my … champagne.” After a week in the 2025 Lexus LX 700h, it’s difficult to envision a large ute that is more than this. Check out the review at Headlight.News.
Automakers May Get Break on Some Tariffs
Just as new car prices are starting to rise due to tariffs applied by the Trump administration, automakers may be getting a break on some of them. The move may not ease prices short term, but it would prevent them from rising in the future. Get details at Headlight.News.
Mazda’s Vision Concept Could Signal Long-Awaited Change
A day after Mazda released a teaser photo of its Vision concept vehicle it plans to show off at the Japan Mobility Show later this month, speculation about what’s coming is all over the map. Headlight.News takes a closer look at the possibilities.