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Earnings and Financials

Rivian Chief RJ Scaringe Upbeat Despite Loss of Fed Tax Credits, Threat of Chinese Competition

Rivian Chief RJ Scaringe Upbeat Despite Loss of Fed Tax Credits, Threat of Chinese Competition

Rivian CEO RJ Scaringe says he has “never been more confident than I am today” about the future of the struggling EV manufacturer. That’s despite a series of challenges facing the battery-electric vehicle sector in general – including the loss of federal EV tax credits and the rise of the low-cost Chinese competitors who are threatening to enter the U.S. market. A critical test will come early next year with the launch of Rivian’s more affordable R2 model line. But it’s also counting on joint ventures and alliances like those with Volkswagen and Amazon, reports Headlight.News.

It’s No Longer “If,” But “When” Chinese Automakers Will Crack Open the U.S. Market

It’s No Longer “If,” But “When” Chinese Automakers Will Crack Open the U.S. Market

Tariffs enacted by Presidents Joe Biden and Donald Trump effectively closed the door on auto imports from China – only a few products now entering the U.S. But, despite the current hefty tariffs, observers expect that the Trump administration will soon open the American market up to Chinese products, while also encouraging manufacturers like BYD and Geely to set up U.S. manufacturing operations. While American motorists would likely welcome vehicles like the $20,000 BYD Dolphin, this could pose an “existential threat” to traditional automakers, reports Headlight.News.

Stellantis Finally Pulls Out of its Sales Slump – But Federal Shutdown Weighs Over the Entire Industry

Stellantis Finally Pulls Out of its Sales Slump – But Federal Shutdown Weighs Over the Entire Industry

Strong sales by the Jeep and Ram brands helped Stellantis reverse its long sales slide during the third quarter, even as Volkswagen faltered in the face of a challenging economy. While U.S. auto sales are running stronger than expected, analysts still worry about the impact of tariffs and the federal government shutdown in the months ahead.

Porsche Unplugged: Backs Off Aggressive EV Plans in Favor of Hybrids, Plug-Ins

Porsche Unplugged: Backs Off Aggressive EV Plans in Favor of Hybrids, Plug-Ins

Porsche may be known for speed but when it comes to its plan to go all-electric it’s suddenly decided to slow down a bit. There are still more EVs coming but it’s decided to put more emphasis on hybrids and PHEVs, notably with a new high-end crossover in the works. Headlight.News has more on this costly change of direction.

Stellantis, BMW, JLR Targeted as Hackers Go After Deep-Pocket Automakers

Stellantis, BMW, JLR Targeted as Hackers Go After Deep-Pocket Automakers

Stellantis was targeted by hackers, it revealed over the weekend, the latest in an escalating series of cyberattacks aimed at deep-pocketed automakers and their suppliers. This month alone, BMW became a target of a potential ransomware attack while Jaguar Land Rover is still reeling from a cyberattack that has effectively shut down production for the past three weeks. More from Headlight.News.

Federal Reserve Rate Cut May Not Help Increasing Price-Sensitive Car Buyers

Federal Reserve Rate Cut May Not Help Increasing Price-Sensitive Car Buyers

Facing an uncertain economic environment that threatens to undermine demand for retail sales, including new vehicles, the Federal Reserve Board voted to cut interest rates. But it’s far from clear that will be enough to head off an automotive downturn worsened by anticipated tariff-driven price hikes. More from Headlight.News.