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.
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.
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.
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.
Back-to-back quarterly sales drops seems to have CEO Elon Musk’s attention. Always looking for ways to bolster deliveries, Tesla’s offering a new long-range variant of the Model 3 sedan. Get details at 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.
Off-road beast maker Ineos plans to push back production of its first all-electric model, the Fusilier SUV, from 2027 to an unknown introduction date. Ineos produces two off-road focused vehicles, the Grenadier and Quartermaster, and introduced the Fusilier in February. Get more details at Headlight.News.
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.
Prices at the gas pump remained uncharacteristically flat through the first month of the summer season, but that’s changed with the looming Independence Day holiday weekend. The national average rose to $3.50 a gallon — up 5 cents and it may continue. Get details at Headlight.News.
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.
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.
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.