US new auto sales likely rose in Q3, but UAW strikes may pose speed bump
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Wallbox (WBX) teams with Free2move eSolutions to accelerate EV adoption in North America
October 4, 2023 2:34 PM EDTEV charging and energy management solutions company, Wallbox (NYSE: WBX) announced Wednesday that they have partnered with Free2move eSolutions to promote the adoption of electric vehicles in North America.
Free2move is a joint venture with Stellantis (NYSE: STLA) created to design innovative... More
GM secures $6B line of credit as UAW strike continues
October 4, 2023 11:15 AM EDTGeneral Motors (NYSE: GM) announced Wednesday morning the procurement of a fresh $6 billion line of credit and disclosed that the financial impact of the United Auto Workers (UAW) strike in the 3Q amounted to $200 million, according to a company representative.
The strike, which began on September 15th and has now... More
September auto sales surpass expectations despite challenges
October 4, 2023 8:36 AM EDTThe United States, in September, witnessed an impressive resurgence in the automotive industry, with the SAAR for light vehicle sales reaching a remarkable 15.7 million. This surge marked a 16.2% year-over-year increase, surpassing J.P. Morgans earlier projection of 15.4 million.
One contributing factor to the surge in auto sales is pent-up demand. Adverse weather conditions in several states during August may have led potential buyers to delay their purchases, resulting in an influx of sales the following month.
Another key factor driving strong performance is the greater availability of cars... More
Ford (F) launches F-150 Lightning Flash with focus on tech
October 3, 2023 3:53 PM EDTFord (NYSE: F) has introduced the F-150 Lightning Flash, a cutting-edge electric pickup truck with an extended-range battery and BlueCruise technology. The F-150 Lightning Flash is priced starting at $69,995 and will be open for online orders through Ford.com in early 2024.
In a press statement, Marin Gjaja,... More
Stellantis (STLA) to build five new EVs at Italy’s Melfi facility
October 3, 2023 11:04 AM EDTItalian labor unions announced Tuesday that Chrysler-parent, Stellantis (NYSE: STLA) will begin production of five new medium-sized electric vehicle models, representing various brands, at its Melfi plant in southern Italy. These vehicles are intended for the European and Middle Eastern markets and are scheduled for production... More
