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Earnings and Financials

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.

Recaro Automotive Files For Bankruptcy, BBS Files For Insolvency For the Fifth Time

Recaro Automotive Files For Bankruptcy, BBS Files For Insolvency For the Fifth Time

Changing market trends are forcing automakers to navigate rough waters as they adjust to the changing climate in EV adoption and lingering effects of the COVID-19 pandemic. However, it can be easy to forget that automotive suppliers have also been feeling the heat with some of them being forced to file for bankruptcy. Recaro Automotive and BBS are the two latest suppliers to be forced to enter these proceedings for varying reasons.

CFO Warns Stellantis Could Sell Off Maserati

CFO Warns Stellantis Could Sell Off Maserati

As it looks to potentially consolidate a list of 14 automotive brands, Stellantis could sell off its most exclusive, Maserati, due to weak sales, a senior official warned. That’s on top of several other brands which, Headlight.News reported last week, may be shuttered entirely.

What Brands Will Fall to the Stellantis Axe?

What Brands Will Fall to the Stellantis Axe?

Could Stellantis abandon one or more of its 14 automotive brands? In light of the automaker’s weak second-quarter earnings, that is a distinct possibility, warned CEO Carlos Tavares. But which of those marques are the most endangered? Headlight.News takes a closer look and a few seem ripe for the chopping block.

Tesla’s Trade Secret Lawsuit Against Rivian Heading to Court

Tesla’s Trade Secret Lawsuit Against Rivian Heading to Court

It will be up to a California court to determine the outcome of a long-running suit pitting two EV manufacturers, Tesla and Rivian. The bigger of the two has accused its rival of stealing trade secrets and a judge has ruled the case will have to go to trial after Rivian filed to get it dismissed earlier this week.

Ford Earnings Fall Short – Sending Investors Scrambling

Ford Earnings Fall Short – Sending Investors Scrambling

It wasn’t expected to be a good quarter for Ford Motor Co. Even then, the automaker’s second-quarter earnings managed to fall short of Wall Street’s expectations. That sent Ford shares tumbling by 11%, even though company leaders tried to assure investors they’re “on track” to deliver a full-year profit. More from Headlight.News.

Investors Unhappy with Tesla’s Results, Musk’s Explanation

Investors Unhappy with Tesla’s Results, Musk’s Explanation

Tesla’s second quarter results reflected the tough times the EV maker’s experiencing now that there is more competition and other issues impacting sales. While the company’s overall revenue rise slightly, its net income and automotive operations revenue took massive hits. Moreover, CEO Elon Musk doesn’t seem too bothered by the numbers. Get details at Headlight.News.

GM Spreading Good News with Q2 Earnings Results

GM Spreading Good News with Q2 Earnings Results

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.

Want a Brand New EV For Just $14,000? There’s Just One Catch

Want a Brand New EV For Just $14,000? There’s Just One Catch

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.