In desperate need of a more affordable product that can deliver a big boost in sales, Lucid is working up a new compact SUV taking aim at the Tesla Model Y. Expect it to enter production by 2026, with a base price of less than $50,000, said CEO Peter Rawlinson, earlier than previously expected.
EV maker Rivian reported first quarter earnings that were slightly better than its year-ago results but ended up falling short of analysts’ expectations. The company generated more revenue, but increased costs chewed up profits. Find out more about what happened at Headlight.News.
Nascent EV maker Lucid Motors reported its first quarter results, exceeding expectations in some areas while falling short in others. CEO Peter Rawlinson brushed aside concerns about shortcomings, noting the company was focused on growth, specifically the company’s second vehicle, the Gravity SUV. Get details at Headlight.News.
The Headlight News for the Week of 5-6-24 covers Auto Sales Stumble – New Ferrari 812 – Polestar EV Can Charge in 10 Minutes – Kia Telluride Review and This Week in Automotive History. Check out the podcast at Headlight.News.
EV maker Rivian received $827 million in new incentives from the State of Illinois to expand its production facility in Normal. The company currently builds all of its vehicles there, but the expansion will allow it increase production levels as well as handle...
Ford Motor Co. set a monthly record for sales of hybrid vehicles during April as its sales slipped last month as sales of the full-size F-150 pickup weakened.
The expanding popularity of electrified vehicles, particularly hybrids, continues to help boost sales of new vehicles amid growing signs consumers are switching to smaller, more affordable vehicles in the face of rising prices and the highest interest rates in nearly a quarter of a century.
Cadillac has backed away from its plan to offer “an all-electric portfolio by 2030,” the luxury brand’s global boss acknowledged Wednesday. While that could yet happen, said General Motors Vice President John Roth, Caddy is likely to continue offering vehicles using internal combustion engines well into the next decade.
Young boys often grow up wishing they could be one superhero or another. However, Batman enjoys a special hold on many because of all the technology he used to fight crime — especially his cars. Now you can drive the cars as Pininfarina’s created two new versions each of the all-electric B95 hyper Barchetta and Battista hyper GT inspired by Bruce Wayne. Find out more at Headlight.News.
Stellantis fell short of analysts’ expectations, posting a 12% decline in first quarter revenue largely due to sluggish sales in Europe. However, the company expects a big rebound in the second half of the year. Find out more at Headlight.News.
Though it’s long emphasized hybrids, Toyota has plenty of battery-electric vehicles coming before the end of the decade and one of the most significant moves will see the automaker’s popular Highlander model go all-electric when the next-generation SUV comes out around 2027, Headlight.News reports.
It appears there will not be showers of new vehicles buyers in April after seeing good numbers through the first three months of the year. However, analysts suggest the market is still healthy. Find out more at Headlight.News.