Volkswagen to launch autonomous vehicles in Texas by 2026

Barclays sees these US auto & mobility stocks raising 2023 guidance

July 10, 2023 11:54 AM EDT

As earnings season rolls around once again, Barclays analyst Daniel Levy told investors in a note Monday that he sees six US auto and mobility stocks raising 2023 guidance. However, Levy warned that even though stability is emerging in the auto sector, investors should beware of the rising bar heading into the earnings releases.

Ford Motor (NYSE: F): The analyst told investors that the "stronger for longer" theme has emerged for both Ford and GM, with better pricing and volume than anticipated. While they expect a beat and raise for... More

Ford (F) releases 2Q sales report, remains a top-selling brand thanks to ICE pickup trucks

July 6, 2023 12:49 PM EDT

Ford Motor Company (NYSE: F) released their 2Q sales report Thursday, posting double-digit sales increases and maintaining their spot as a top-selling brand and top-selling truck manufacturer in the United States. Total Ford vehicle sales climbed 11.2% to 511,538 vehicles driven primarily by its internal combustion engine pickup trucks, according to the company's sales... More

Active options: TSLA AAPL AMZN META AMD NVDA NFLX

July 6, 2023 11:04 AM EDT

Active options: TSLA AAPL AMZN META AMD NVDA NFLX

... More

Ford Motor (F) says electric vehicle sales continue to grow

July 6, 2023 9:42 AM EDT

Ford (NYSE: F) was Americas best-selling brand in the second quarter on the strength of its trucks, electric vehicles and new vehicle launches, posting sales gains of 11.2 percent for the quarter.

Ford is Americas No. 1 brand for six consecutive months this year on strength of pickups, vans, commercial vehicles and new... More

General Motors (GM) PT Raised to $72 at BofA Securities

July 6, 2023 9:40 AM EDT

BofA Securities analyst John Murphy raised the price target on General Motors (NYSE: GM) to $72.00 (from $70.00) while maintaining a Buy rating.... More

Ford auto sales rise on robust demand, improved supply

July 6, 2023 9:17 AM EDT

(Reuters) -Ford Motor Co on Thursday followed rivals in reporting a rise in second-quarter U.S. auto sales, driven by easing supply chain snags and pent-up demand for personal transportation.

The U.S. automaker's quarterly sales rose about 10% to 531,662 vehicles, the company said.

Automakers are rushing to make up for the lost production during the pandemic, as a strong... More

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

July 6, 2023 8:50 AM EDT

The National Highway Traffic and Safety Administration (NHTSA) revealed Thursday that the U.S. automotive safety regulator is seeking an updated response and current data from Tesla (NASDAQ: TSLA) regarding an ongoing probe into 830,000 Tesla vehicles and the automaker's Full Self-Driving system (FSD).

The NHTSA sent a letter to Tesla a on July 3rd seeking updates to questions it had asked in August 2022. According to... 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

General Motors (GM) PT Raised to $41 at UBS

July 6, 2023 4:21 AM EDT

UBS analyst Patrick Hummel raised the price target on General Motors (NYSE: GM) to $41.00 (from $38.00) while maintaining a Neutral rating.... More

Ford (F) PT Raised to $11 at UBS

July 6, 2023 4:21 AM EDT

UBS analyst Patrick Hummel raised the price target on Ford (NYSE: F) to $11.00 (from $10.00) while maintaining a Sell 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

GM says it could face compliance challenges under new emissions rules

July 5, 2023 3:30 PM EDT

By David Shepardson

WASHINGTON (Reuters) -General Motors said on Wednesday it could face compliance challenges under the Environmental Protection Agency's proposed vehicle emissions rules and other state and federal regulations, as it cited requirements on electric vehicles.

The largest U.S. automaker said in comments submitted to the EPA that there are six state and federal regulations that "could require each automaker to exceed 50% EVs in at least a dozen vehicle averaging sets in the approximate 2030 timeframe."

GM said it is... More

Strong demand pushes GM towards impressive 2Q sales results

July 5, 2023 12:00 PM EDT

Shares of Detroit automaker General Motors (NYSE: GM) jumped as much as 1.11% in mid-day trading on Wednesday after the company reported delivery results for their 2Q of 2023.

According to the release, GM and its dealers delivered 691,978 vehicles in the U.S.,... More

GM (GM) Q2 deliveries up 19%

July 5, 2023 11:38 AM EDT

General Motors Co. (NYSE: GM) and its dealers delivered 691,978 vehicles in the U.S., up 19% year-over-year, in the second quarter of 2023 and 1,295,186 vehicles in the U.S., up 18% year-over-year, in the first half of 2023.

All four of GM's brands delivered double-digit year-over-year... 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