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Earnings and Financials

Hyundai Way Means Massive Sales Increase, More Hybrids, More Profit

Hyundai Way Means Massive Sales Increase, More Hybrids, More Profit

South Korean automotive behemoth Hyundai Motor expects to sell 5.5 million vehicles globally by the end of the decade, including 2 million EVs and 1.8 million hybrids. The global number represents a 30% jump over last year’s numbers. Find out more at Headlight.News.

BYD, Stellantis Dismiss Rumored Chrysler Acquisition – But Chinese Maker May Still Seek Back Door to U.S. Market

BYD, Stellantis Dismiss Rumored Chrysler Acquisition – But Chinese Maker May Still Seek Back Door to U.S. Market

It’s been the subject of speculation for weeks, “knowledgeable sources” chattering amongst themselves about the possibility China’s BYD is in talks with Stellantis as it looks for a way to crack into the U.S. market. The two makers have firmly dismissed the rumors. But there seems little doubt Chinese automakers want to target the world’s second-largest automotive market and are sniffing around the North American auto industry looking for a way to break in.

Ford Revises EV Plans, Dumps 3-Row SUV, Delays Next-Gen Pickup

Ford Revises EV Plans, Dumps 3-Row SUV, Delays Next-Gen Pickup

Ford officials revealed the company’s plan to adjust the production timing of its future electric vehicles as well as other future product changes. The moves are designed to improve the company’s profitability while ensuring it hits its long-term environmental goals. Find out more at Headlight.News.

UAW Chief Threatens Strike at Stellantis

UAW Chief Threatens Strike at Stellantis

UAW President Shawn Fain used a prime-time speech during the opening of the Democratic National Convention to warn of a possible strike against Stellantis. Speaking out against what he described as “corporate greed,” Fain accused the Euro-American automaker of reneging on investments promised as part of a settlement union and management reached during contract talks last autumn.

GM Laying Off 1,000 Software, Service Staff

GM Laying Off 1,000 Software, Service Staff

General Motors is cutting over 1,000 salaried software and service employees, despite the automaker’s increasing focus on opportunities to expand revenues through the use of connected and autonomous vehicle technologies. The company said the move will help it “prioritize investments.”

Musk Uses Live Conversation With Trump to Pitch EVs to Candidate’s Skeptical Followers

Musk Uses Live Conversation With Trump to Pitch EVs to Candidate’s Skeptical Followers

It was billed as an “interview” with presidential candidate Donald Trump but billionaire entrepreneur Elon Musk used the Monday night event on social media service X to promote the benefits of EVs – those from Tesla, in particular. It’s no easy sell, at least to the former president’s followers.

GM Aims to Drive Down Prices, Drive Up Profits, as it Continues EV Roll-Out

GM Aims to Drive Down Prices, Drive Up Profits, as it Continues EV Roll-Out

The growth of the EV market has clearly slowed this year, General Motors President Mark Reuss said during a media confab, but sales are still on the rise and GM continues planning to gain ground, even as it delays some product launches. A critical step will be driving down prices, even as profitability improves, said Reuss, who oversees GM’s product development efforts.

Rivian Beats Q2 Earnings Estimates, Predicts Q4 Profit

Rivian Beats Q2 Earnings Estimates, Predicts Q4 Profit

EV maker Rivian beat its second quarter earnings estimates, but more importantly predicted it would be in the black for the first time ever in the final quarter of 2024. A series of cost cutting measures and changes to the way the company sells vehicles combined to make the second quarter a good one. Find out more at Headlight.News.

Quid Pro Quo? Musk Money in Hand, Trump is Now an EV Fan

Quid Pro Quo? Musk Money in Hand, Trump is Now an EV Fan

Donald Trump has pulled a U-turn and now says he is now “totally” in favor of EVs. The Republican nominee for president said he had “no choice” but to rethink his position after previously bashing battery-electric vehicles now that Tesla CEO Elon Musk has become one of Trump’s biggest financial backers in an increasingly tough campaign.

Lucid Secures More Funding, Beats Analysts Q2 Earnings Estimates

Lucid Secures More Funding, Beats Analysts Q2 Earnings Estimates

EV maker Lucid Motors offered up good news during its second quarter earnings call as it secured as much as $1.5 billion in new cash just in time to begin production of its second vehicle, the Gravity SUV. The company also managed to beat analysts’ estimates for the quarter. Find out more at Headlight.News.