Ford Motor on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading. Automotive revenue increased 2% year over year, to $38.89 billion, missing analysts’ forecasts of $40.1 billion, according to … Read more
Volkswagens are seen in the employee parking lot at the Volkswagen automobile assembly plant on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT – The United Auto Workers notched a big win this weekend. Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW – marking the Detroit … Read more
As the electric vehicle industry faces a string of high-profile failures, several startups that have surfaced in recent years have underestimated their capital needs by billions of dollars, industry insiders said. Many of the companies that have tried to bring products to market or go public, especially through Special Purpose Acquisition Companies, or SPACs, are … Read more
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023. Rebecca Cook | Reuters DETROIT – Republican governors of six states on Tuesday condemned the United Auto Workers’ push to organize automotive factories in the South, warning the union’s efforts could lead to layoffs … Read more
A Volkswagen automobile assembly plant is seen on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of the union’s sway. A victory would give the UAW its first … Read more
2024 Toyota Tacoma Trailhunter Toyota NEW YORK — Toyota Motor is evaluating an expansion of its U.S. truck lineup that could include all-electric or plug-in hybrid electric versions of its Tacoma and Tundra pickups. Jack Hollis, executive vice president of Toyota Motor North America, said the Japanese automaker is assessing its options to determine what … Read more
2024 Ford Mustang Source: Ford DETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who’ve been drawn to the performance vehicles. The optimism comes after Mustang’s closest American competitors ended production of their muscle cars in … Read more
President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024. Saul Loeb | AFP | Getty Images DETROIT — The Biden administration’s decision to ease its timeline for all-electric vehicle adoption and give automakers more ways to meet new tailpipe emissions standards is expected … Read more
The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. Jeff Kowalsky | Afp | Getty Images DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what … Read more
Brand new Dodge Charger cars are displayed on the sales lot at Hilltop Chrysler Jeep Dodge Ram on August 17, 2022 in Richmond, California. Justin Sullivan | Getty Images The parent company of Chrysler and Dodge is recalling a total of 318,000 vehicles over airbag parts that can potentially shatter and cause injury. The parent, … Read more
