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Automobile
GM’s used-car platform CaroBravo to provide inventory scale, options
"That's very good coverage if you compare us to Carvana, CarMax or the like," Carlisle told Automotive News.Cox Automotive estimates that half of all used retail sales — or about 10.6 million vehicles — were sold by franchised dealers…
Lucid delivers just 360 EVs in Q1; price hikes loom after $598M operating loss
In first quarter financial results, Lucid posted a $598 million operating loss on revenue of $57.6 million. Because of a $523 million improvement in the value of its common stock, Lucid's net loss was only $81.3 million compared with a…
Lucid to raise vehicle prices after $598 million Q1 operating loss
Startup electric automaker Lucid Group Inc. on Thursday raised prices for most models from June after it posted a $598 million operating loss for the first quarter.
The automaker said it is grappling with rising raw materials costs, but…
Adient swings to $81 million net loss in latest quarter
Automotive seating supplier Adient said earnings swung to a loss and revenue fell 11 percent for its fiscal second quarter as a variety of industry headwinds hurt results.
The company posted an $81 million net loss, compared with a $69…
Mark Stewart: Michigan ‘absolutely’ still in contention for new Stellantis EV plant
Michigan remains in contention for a new Stellantis electric vehicle battery plant as the automaker completes the final analysis before an anticipated announcement of a site.
Stellantis COO Mark Stewart said Thursday that the state…
Cars.com posts lower profit, higher revenue in Q1
Dealership technology company Cars.com posted a smaller profit in the first quarter than a year earlier on slightly higher revenue.
Chicago-based Cars.com on Thursday reported net income of $4.3 million in the quarter ended March 31,…
EV chargers emerge as targets for hackers
The possibility of making bigger money could mean hackers will turn more attention to large EV fleet charging centers, Levy said. "Is a consumer going to pay ransomware to release their charging station at home? I don't think so," he…
GM supplier Glencore to invest $200M in GM battery recycling partner Li-Cycle
The recycling company is currently building out its North American recycling network, with construction under way on a series of battery shredding sites, as well as a “hub” in Rochester, N.Y. The company’s hub will receive shredded…
First Shift: Toyota launches AI device in N.A.
• AI devices aid Toyota N.A manufacturing
• Aston Martin hires ex-Ferrari boss
• Porsche invests in EV battery startup
• Buttigieg: Congressional action needed to expand AVs
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CATL to hike prices in Q2
Chinese battery maker CATL said Thursday that its gross profit margins are set to improve as it will raise prices in the second quarter, while suppliers of raw materials will ramp up output to ease tightness.
The world's biggest battery…