EV maker Tesla reported its overall revenue increased slightly in the second quarter, but it wasn’t because of its automotive operations, which fell 7%. The company reported net income and adjusted earnings were down year-over-year as well. Get the details at Headlight.News.
General Motors officials offered good news with the company’s second quarter earnings report, with revenue and profits up for the quarter as well as the first half of the year. In fact, the results were good enough for the company to revise its full-year earnings expectations upward. Find out more at Headlight.News.
The high cost of today’s EVs has slowed demand. But there’s one model now priced at just $14,000, making it one of the lowest-priced vehicles on the market. But there is one catch: those 3,000 Fisker Ocean SUVs are being liquidated as part of the automaker’s bankruptcy. Whether you’ll be able to get parts and service going forward is far from certain.
Vietnamese EV start-up VinFast announced a “prudent,” 3-year delay in the opening of its first U.S. assembly plant. It’s the latest in a series of setbacks for the automaker which suffered a wave of harsh reviews for its initial offering, the VF 8 crossover.
Things are back to normal at 15,000 U.S. showrooms after a hack that brought operations nearly to a halt last month. Data processing firm CDK apparently paid a $25 million ransom to regain control of software controlling everything from sales prospects to payroll. But the damage has topped $1 billion in lost sales and other issues.
It’s been four decades since Honda started building Accords at a new plant in Marysville, Ohio. Today, foreign-owned manufacturers are producing more vehicles in the U.S. than Detroit’s Big Three. And the gap is only expected to widen, in part due to local production mandates covering battery-electric vehicles, reports Headlight.News.
It’s been a tough year for EV start-ups, Fisker filing for bankruptcy, and several others expected to follow. But there have been a few glimmers of hope. Price cuts helped Lucid outperform sales expectations during the second quarter, buying it time to bring a second product line to market later this year. But with Wall Street still skeptical, the California manufacturer remains critically dependent on cash from the Saudis, Lucid’s largest investor.
This week’s edition of the Headlight.News podcast focuses on rebounding car sales including EV sales beating analyst predictions. We also find out which brand has the best quality and talk about recently announced job cuts at Stellantis. A look at This Week in...
The future of transportation is looking up – quite literally. Imagine, instead of an hour to 1 ½ hour drive to the airport, you can hop into a flying taxi somewhere in or around your neighborhood and get to the airport to fly on your scheduled long-haul jet in less than 10 minutes. That would be a game changer for modern, personal travel. It’s actually happening sooner than you may think.
Stellantis has invested an additional $55 million in Archer Aviation, a pioneer in the fast-emerging field of drone-like flying taxis. That follows a previous $110 million investment the Euro-American automaker made in Archer. And it comes at a time when the start-up completed a milestone flight and is preparing to open up a new assembly plant in Georgia.
U.S. automakers reported strong sales overall for June and the second quarter – with a handful of notable exceptions. In the case of Stellantis, a 21% decline has led the automaker to order temporary layoffs at two plants – with more cuts possible.
Hackers blurred the sales picture for June. But it appears that overall demand was less than stellar, major brands like GM, Toyota and Hyundai reporting modest declines for the second quarter overall. That said, EV sales were stronger than anticipated — with one key exception.