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

UAW President Fain holds Facebook live event - 'Our strike is working, but were not there yet'

October 6, 2023 2:36 PM EDT

United Auto Workers (UAW) President Shawn Fain held a Facebook live event Friday afternoon where he announced his union has made significant progress in their effort to push automakers towards meeting the demands of workers.

Fain announced that moments before this broadcast General Motors (NYSE: GM) agreed to place their EV battery manufacturing under the UAWs national agreement, calling the decision a... More

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

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

Wallbox (WBX) and Free2move eSolutions Collaborate to Accelerate EV Adoption in North America

October 4, 2023 6:37 AM EDT

Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced a collaboration with Free2move eSolutions, a joint-venture with Stellantis (NYSE: STLA), dedicated to empowering customers with streamlined electric... More

FCA Third-quarter 2023 US Sales Down 1% (STLA)

October 3, 2023 2:09 PM EDT

2023 total U.S. sales decrease 1% in Q3 versus the same quarter last yearChrysler brand up 96%, with Pacifica sales up 120% versus the same quarter last year; Pacifica Plug-in Hybrid, up 329% over same period last year, holds No. 3 spot among top-selling PHEVs in the U.S. Jeep® Wrangler 4xe total U.S sales up 31% versus same quarter last yearJeep Wrangler 4xe and Jeep Grand Cherokee 4xe top No. 1 and No. 2 sales spots, respectively, as best-selling plug-in hybrids in the U.S. marketGrand Wagoneer U.S. total sales up 22% versus the same period last year... More

Stellantis (STLA) option IV increases

October 3, 2023 11:19 AM EDT

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

... More

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

October 3, 2023 11:04 AM EDT

Italian 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

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