Apparently the strike against General Motors by the UAW didn’t hit the company’s bottom line too badly. The Detroit-based automaker reinstated the full-year guidance it offer before the union’s walkout. Not only that, the company’s implementing a $10 billion accelerated share repurchase program. Get details at Headlight.News.
With EV sales growth slowing down, General Motors “is currently assessing” its massive investment in battery-electric vehicles. And, while it remains committed to CEO Mary Barra’s “path to an all-electric future,” it will shift more emphasis to the hybrids and plug-ins it was planning to abandon. And other automakers, including Ford and Stellantis, are likewise shifting direction. If anything, this validates Toyota’s strategy calling for a mix of EVs, hybrids and PHEVs, reports Headlight.News.
General Motors continues looking at its business with a critical eye, planning to cut back its spending on its robocab subsidiary Cruise. The company recently revealed plans to slow its cadence on electric vehicle introductions. The new cuts come after a Cruise robocab was involved in a collision with a pedestrian. Get details at Headlight.News.
Rivian’s making it easier get into one of their EVs, kicking off its leasing program. The lease option for the R1T Adventure Package is priced at $6,794 at signing, plus $899 a month for 36 months with 30,000 total miles allowed. Read the story at Headlight.News.
The iconic Volkswagen brand is facing major problems that make it “no longer competitive,” the automaker told its staff on Monday, and that has triggered a 10 billion euro, or $10.9 billion, cost saving program that will include job cuts. More from Headlight.News.
In this edition of Headlight News for the Week of 11-27-23, we cover cheap gas, the latest fallout from Cruise’s robocab crash, Ford’s EV spending cuts and more. We also review the 2024 Buick Envista and take a trip through This Week in Automotive History. Join us!
Automotive expert Tim Jackson uses his three decades of industry experience to shed some light on the potential of flying cars, more specifically, Vertical Takeoff and Landing vehicles, or VTOLs. Check out what he believes is the future of transportation at Headlight.News.
Cruise will slash the number of cities where it’s testing its autonomous vehicle technology in the wake of a serious crash last month. And it is delaying the launch of the driverless robocab it hoped to put on the road next year, the General Motors subsidiary announced. Headlight.News has the latest.
Porsche just lifted the covers on its third-generation Panamera. And while it doesn’t break major ground from a design direction, there’s plenty to take note of. The 2024 Porsche Panamera delivers more power, upgraded infotainment technology, improved safety gear, and enhanced ride and handling. Headlight.News checks out the latest edition of the distinctive German luxury sedan.
Death and taxes aren’t the only things we can expect in life, at least not if you own a car. Yet, this year the oil industry is breaking its own cardinal rule and lowering gas prices just in time for a Thanksgiving holiday expected to bring record traffic. As Headlight.News reports, one chain will offer fuel for as low as $1.99 a gallon.
Thanksgiving is always a busy time when it comes to travel, and the experts are warning that the numbers should hit a record this year. So, it helps to prepare yourself and your vehicle ahead of time. And Headlight.News can also tip you off on the best times to travel to avoid the rush. Headlight.News can help you travel safely.
Ford will cut its projected investment in a new EV battery plant in Marshall, Michigan by $1 billion while also cutting back on the number of workers it expects to hire, the automaker confirmed Tuesday. The plant will roll out barely half as many batteries as originally expected, reports Headlight.News.