Stellantis (STLA) to build five new EVs at Italy’s Melfi facility

NHTSA holds public hearing to recall 52M air bag inflators

October 5, 2023 1:46 PM EDT

Officials from the U.S. National Highway Traffic Safety Administration (NHTSA) Thursday recommended the government mandate a recall of 52 million air bag inflators manufactured by ARC Automotive and Delphi Automotive.

The regulators believe the inflators pose a potential risk of rupturing and ejecting metal fragments.

The NHTSA held a rare public hearing on the matter, which could trigger one of the most extensive recalls in U.S. history.

Delphi Automotive, which is a part of Autoliv (NYSE: ALV), produced approximately 11 million of these... More

General Motors (GM) makes counteroffer to striking UAW

October 5, 2023 1:17 PM EDT

Detroit automaker, General Motors (NYSE: GM) revealed Thursday that they have submitted a counteroffer to the United Auto Workers (UAW), its sixth since talks began, in hopes to end a strike by the union against the U.S. automaker.

"We believe we... More

Wallbox (WBX) teams with Free2move eSolutions to accelerate EV adoption in North America

October 4, 2023 2:34 PM EDT

EV 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

September auto sales surpass expectations despite challenges

October 4, 2023 8:36 AM EDT

The 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

GM, Stellantis face $9.5 billion in US fuel economy fines -industry group letter

October 2, 2023 1:34 PM EDT

By David Shepardson

WASHINGTON (Reuters) -The proposal by U.S. President Joe Biden's administration to hike fuel economy standards through 2032 would cost General Motors $6.5 billion in fines and Chrysler parent Stellantis $3 billion, according to a letter seen by Reuters.

The American Automotive Policy Council, representing GM, Stellantis and Ford Motor, said in a letter to the U.S. Energy Department on Friday that the size of the expected penalties for not meeting proposed Corporate Average Fuel Economy (CAFE) requirements are "alarming."

Ford separately faces about $1 billion in penalties, the letter said, while Volkswagen faces upwards of $1... More

General Motors (GM) faces more than $6 billion in U.S. fuel economy fines through 2032 - Reuters

October 2, 2023 1:25 PM EDT

General Motors (NYSE: GM) faces more than $6 billion in U.S. fuel economy fines through 2032 - Reuters

Stellantis (NYSE: STLA) faces about $3 billion in U.S. fines... More

US new auto sales likely rose in Q3, but UAW strikes may pose speed bump

October 2, 2023 7:17 AM EDT

By Shivansh Tiwary

(Reuters) - U.S. new vehicle sales likely rose in the third quarter on improving supply and steady demand, but a strike by autoworkers has muddied the outlook for the "Detroit Three" for the rest of the year, analysts said.

General Motors was set to remain the top-selling automaker with 680,009 vehicles sold in the quarter ended September, while second-placed Toyota was expected to finish the quarter at 583,661 vehicle sales, according to car shopping website Edmunds.

... More

U.S. futures rise after government shutdown averted - what's moving markets

October 2, 2023 5:20 AM EDT

Investing.com -- Futures point higher on Monday after last-minute negotiations between lawmakers on Capitol Hill over the weekend led to a surprise short-term funding deal that averted a U.S. government shutdown. Elsewhere, UAW workers and Mack Trucks forge an agreement to avoid a strike, while the World Bank cuts its growth forecast for China's economy next year.

1. Futures higher after government shutdown avoided

U.S. stock futures ticked up on Monday after lawmakers in Washington struck an eleventh-hour deal to prevent the federal government from shuttering over the weekend (see... More

S&P 500 turns negative as government shutdown looms

September 29, 2023 3:03 PM EDT

Investing.com -- The S&P 500 turned negative Friday, as concerns about the impact of a government shutdown forced stocks to give up gains following data showing easing inflation.  

The S&P 500 fell 0.4%, the Dow Jones Industrial Average fell 0.6%, 205 points, Nasdaq rose 0.01%.

Government shutdown nears

TheHouse of Representatives failed to pass a short-term spending measure Friday that would have kept the government open until Oct. 31, stoking fears that a government shutdown on Oct. 1 is increasing likely.

A government shutdown is now almost priced in, Morgan Stanley says, and could dent fourth-quarter economic... More

UAW president calls for expanded strike; urges 7000 additional workers to join at noon

September 29, 2023 11:20 AM EDT

UAW president Shawn Fain announced Friday morning that at noon today the UAW strike against Detroits biggest automakers will expand, adding an additional 7,000 workers to the walkout.

Fain stated that despite the UAW's willingness to bargain, Ford and GM have declined to make meaningful advancements during the discussions. Nevertheless, Fain clarified that... More

Stellantis (STLA) October option implied volatility amid union strike talks

September 29, 2023 10:47 AM EDT

Stellantis (NYSE: STLA) October call option implied volatility is at 31, November is at 30; compared to its 52-week range of 23 to 423.

... More

Stellantis (STLA) Made Significant Progress In Talks, UAW's Fain Says

September 29, 2023 10:41 AM EDT

Stellantis (NYSE: STLA) Made Significant Progress In Talks, UAW's Fain Says

No Further Strikes at Stellantis... More

UAW To Announce New Strikes At Assembly Plants At Detroit Three Automakers - Reuters

September 29, 2023 9:59 AM EDT

UAW To Announce New Strikes At Assembly Plants At Detroit Three Automakers -- Sources - Reuters

Ford (NYSE: F)GM (NYSE: GM)Stellantis N.V. (STLA)... More

Futures rise, PCE ahead, budget fight latest - what's moving markets

September 29, 2023 5:33 AM EDT

Investing.com -- U.S. stock markets remain on course for a September slump heading into the final trading day of the month, despite a positive session on Wall Street on Thursday. As the latest quarter also draws to a close, a gauge of inflation closely-watched by the Federal Reserve will be in focus, while investors will be keeping an eye on a tense budget fight in Washington ahead of a possible government shutdown this weekend.

1. Futures point higher

U.S. stock futures rose on Friday, suggesting an extension of gains made in... More