GM, Ford must convince investors they can profit as prices fall
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Warren Buffet backed EV maker BYD in talks to acquire insurer Yi'an
January 31, 2023 11:59 AM ESTBYD, the Chinese electric vehicle company in China, announced on Tuesday that the Warren Buffet backed automaker is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial... More
Ford to cut prices while 'significantly' increasing Mach-E production amid Tesla cuts
January 30, 2023 8:53 AM EST(Updated - January 30, 2023 9:06 AM EST)
Ford (NYSE: F) announced Monday morning that the American vehicle maker will significantly increase production of their Mustang Mach-E this year to help reduce customer wait times. The company also announced that they will be taking advantage of the streamlined costs to reduce prices across the board.
The Mustang Mach-E was the #3 EV model in the U.S. in 2022. The... More
General Motors (GM) enters binding long-term supply agreement with Vacuumschmelze
January 30, 2023 8:37 AM ESTVacuumschmelze (VAC) announced Monday that the advanced magnetic materials company has entered into a binding long-term supply agreement with General Motors (NYSE: GM). As part of the agreement, VAC will build a facility in North America to manufacture permanent magnets for electric motors using locally sourced raw... More
GM to downgraded to Hold as Berenberg awaits better entry point
January 30, 2023 7:36 AM ESTBerenberg downgraded General Motors (NYSE: GM) to a Hold rating (From Buy) and cut the price target on the stock to $41.00 (From $45.00) as analyst Adrian Yanoshik believes the American auto maker will continue to face near-term challenges from mass-market affordability and cost inflation. The company is scheduled to... More
Morgan Stanley Bullish as Tesla (TSLA) ushers in the 'Great EV Deflation'
January 27, 2023 11:55 AM ESTMorgan Stanley reiterated an Outperform rating and $220.00 price target on Tesla (NASDAQ: TSLA) as the electric vehicle giants recent price cuts usher in, what analyst Adam Jonas calls, the Great EV Deflation.
Jonas wrote in a note, In recent days, Ive asked several dealers and automotive experts if theyve ever seen a car company cut prices by 13 to 20% across the vast majority of its product range in one move. Nobody can think of a precedent.
Some... More
