U.S. regulators press Tesla (TSLA) for updated response in autopilot probe

Volkswagen to launch autonomous vehicles in Texas by 2026

July 6, 2023 2:16 PM EDT

German auto maker, Volkswagen (VW) announced Thursday their plans to launch autonomous, or self-driving, vehicles for ride hailing and goods delivery services in Austin, Texas by 2026.

VW had previously made a costly investment into Ford's now Ford's now-defunct self-driving car unit, Argo. The company took nearly 100 people... More

BoA raises estimates on Tesla (TSLA) as volumes 'exceed expectations'

July 6, 2023 8:24 AM EDT

Bank of America reiterated a Neutral rating on Tesla (NASDAQ: TSLA) and raised their 12-month price target for the stock to $300.00 (From $225.00) as auto suppliers see higher volumes and lower costs so far in 2023.

Analyst John Murphy wrote in a note, Since 2020, the industry, but specifically... More

Citi opens 90-day catalyst watch on BYD

July 6, 2023 8:02 AM EDT

Citi Research opened a 90-day positive catalyst watch on Chinese automaker, BYD as analyst Jeff Chung expects the company's 2Q23E NP to reach Rmb5-5.7bn showing a quarter-on-quarter (QoQ) growth of 25-30%.

Additionally, the estimated net profit per vehicle for the second quarter of 2023 is... More

US agency seeks updated responses from Tesla in Autopilot probe

July 6, 2023 7:16 AM EDT

By David Shepardson

WASHINGTON (Reuters) -U.S. auto safety regulators said on Thursday they are seeking updated responses and current data for an ongoing probe into 830,000 Tesla vehicles and the automaker's advanced driver assistance system Autopilot.

The National Highway Traffic Safety Administration (NHTSA) sent Tesla a letter on July 3 seeking updates to questions it had asked in August 2022 and is now demanding answers by July 19, according to a copy of the letter made public by the agency.

Tesla did not respond to a request for comment.

The agency is investigating the performance of Autopilot... More

Tesla (TSLA) PT Raised to $300 at BofA Securities

July 6, 2023 6:07 AM EDT

BofA Securities analyst John Murphy raised the price target on Tesla (NASDAQ: TSLA) to $300.00 (from $225.00) while maintaining a Neutral rating.... More

Stock market today: Dow slips as Fed minutes show more hikes ahead; Meta jumps

July 5, 2023 4:16 PM EDT

By Yasin Ebrahim

Investing.com -- The Dow closed lower Wednesday, as the Federal Reserves minutes from its June meeting showed further appetite to resume hikes, though big tech was largely higher as Meta surged to a 52-week high ahead of the launch of its rival Twitter app.

The Dow Jones Industrial Average fell 0.38%, or 129 points, the Nasdaq fell 0.2%, and the S&P 500 fell 0.2%.

Fed Minutes Signal More Fed Hikes Ahead; China Economic Jitters

The Fed minutes, released Wednesday, from the central banks June meeting showed almost... More

U.S. stocks are falling as investors await Fed's June minutes

July 5, 2023 10:01 AM EDT

Investing.com -- U.S. stocks were falling as investors awaited the minutes of the latest Federal Reserve policy meeting.

At 9:39 ET (13:39 GMT), the Dow Jones Industrial Average was down 140 points or 0.4%, while the S&P 500 was down 0.3% and the NASDAQ Composite was down 0.2%.

Investors await Fed minutes

The Fed will release the minutes of its June meeting this afternoon, giving investors a chance to hunt for clues on the central... More

Active options: TSLA RIVN AAPL AMZN META AMD NVDA NFLX LCID

July 5, 2023 9:50 AM EDT

Active options: TSLA RIVN AAPL AMZN META AMD NVDA NFLX LCID

... More

North America and Europe lead surge in global EV demand

July 5, 2023 9:41 AM EDT

Analyst Ranulf Orr from Citi Research reported a surge in demand for Battery Electric Vehicles (BEV) in May, with a 46% increase compared to the previous year. The primary drivers of demand growth were Europe and North America, experiencing respective year-on-year rises of 59% and 50%. In contrast, China's growth was more... More

Needham remains sidelined on Tesla (TSLA) following 2Q delivery beat

July 5, 2023 8:47 AM EDT

Needham reiterated a Hold rating on Tesla (NASDAQ: TSLA) after the electric giant posted its 2Q production and delivery numbers, beating consensus estimates by about 5%.

Over the past year, the growth in TSLA's production capacity has surpassed the growth in vehicle deliveries. As a result, there have been several rounds of price cuts throughout the year, with the most significant reductions occurring in early Q1. According to Needham, TSLA's inventory is still expanding, albeit at a slower pace. They consider this a mildly positive development, but they believe that additional confirmation... More

Tesla (TSLA) cuts prices in Japan

July 5, 2023 8:25 AM EDT

Tesla (NASDAQ: TSLA) revealed Tuesday that the electric vehicle giant cut prices for its Model 3 and Y electric vehicles by 3-4% in Japan this month.

According to the company's website, prices for all versions of its more affordable Model 3 have been reduced... More

Netflix, Rivian, Wolfspeed rise premarket; Tesla, UPS fall

July 5, 2023 8:11 AM EDT

Investing.com -- U.S. futures traded lower, with investors cautious ahead of the release of Federal Reserve meeting minutes from the June policy gathering.

Here are some of the biggest premarket... More

Tesla cuts prices in Japan for Model 3 and Y

July 5, 2023 6:06 AM EDT

TOKYO (Reuters) - Tesla Inc cut prices in Japan of its Model 3 and Y electric vehicles by low single-digit percentages from the start of this month, it said on Tuesday.

The company slashed prices for all variants of its lower-priced Model 3 by about 3%, its website showed, while... More