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.
Earnings and Financials
Hackers Hijack June Sales, Automakers Report Mixed Sales Picture
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.
Who Says EV Sales Are Slowing? Tesla, Maybe – But Not GM, Ford, Toyota or the Koreans
It’s become conventional wisdom that EV sales are slowing. With one high-profile exception, the latest numbers would tell you quite the opposite is true. As data roll in for June and the second quarter we’re seeing a number of manufacturers reporting solid increases...
Mercedes Pumping New Life Into its Gas Engines
With the EV market taking longer to charge up than many have expected, Mercedes-Benz is putting money back into the development of internal combustion technology, as well as hybrids, CEO Ola Kallenius said. But the automaker isn’t scrapping plans for a new EV architecture, despite recent reports, the executive said.
Polestar Reports Massive 2023 Losses as the Company Faces Questions About its Future
Polestar reports increased losses for the 2023 fiscal year as the company faces renewed questions about its long-term future amid struggles with cash burn and slumping EV demand.
New Tariffs Force Volvo to Delay U.S. Launch of Chinese-Made EX30 EV
Volvo has “delayed” the U.S. launch of the EX30 battery-electric vehicle due to new tariffs on Chinese-made EVs announced in May by the Biden administration. That delay appears likely to last until at least sometime in 2025 when the automaker plans to begin production of the EX30 at a second plant in Ghent, Belgium.
Twork Named New Lucid PR Chief as it Enters a Critical Phase
Lucid Group named a new PR chief, Nick Twork taking on global communications duties at the EV start-up. The move comes at a critical time for the Silicon Valley-based automaker. While its initial product line, the Air sedan, has received generally favorable reviews, Lucid has been struggling with sluggish sales and a rapid cash burn while waiting for the more mainstream Gravity SUV to debut later this year.
Fisker Goes Bust – Elon Musk Gets $56 Billion Payout – Bugatti Goes Hybrid – Bronco Everglades Review – This Week In Automotive History and More in This Week’s Headlight.News Podcast
This week's edition of the Headlight.News podcast focuses on Elon Musk getting his revised $56 billion dollar pay package and EV automaker Fisker going bust. We also talk about Bugatti going hybrid with the all-new Tourbillion and we review the 2024 Ford Bronco...
Automakers Face “The Most Uncertain and Volatile” Times in Industry History
The auto industry is in the midst of the most unsettling shake-up its seen in more than a century and that’s likely force radical change in not only what products manufacturers bring to market but how and where they sell them. For one thing, Detroit automakers should consider pulling out of China, said Bank of America analyst John Murphy as part of his annual “Car Wars” study.
Fisker Files for Bankruptcy
For the second time in less than a dozen years, entrepreneur Henrik Fisker’s effort at launching an automotive start-up has plunged into bankruptcy. Start-up Fisker Inc. filed for Chapter 11 protection late Monday. While the one-time auto designer said the filing leaves a “viable path forward,” the options for saving the company appear increasingly sparse.
Elon Musk Gets $56 Billion – World’s Fastest EV – $25,000 Jeep EV – 2024 BMW X5 Competition Review and More in This Week’s Headlight.News Podcast
This week's edition of the Headlight.News podcast focuses on Elon Musk getting his $56 billion dollar pay package and the emergence of the world's fastest EV from an unlikely place. Meanwhile, we also talk about Jeep's planned $25,000 EV and review the 2024 BMW X5...
Elon Musk Wins Shareholder Battle To Keep His Compensation Plan
Elon Musk celebrates yes vote by Tesla shareholders that secures his record-setting compensation plan after a judge in Delaware voided the proposed pay package in January.