NHTSA holds public hearing to recall 52M air bag inflators
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An increasing number of German Tesla (TSLA) workers join union
October 9, 2023 11:25 AM EDTReuters reports Monday that Tesla (NASDAQ: TSLA) employees at the Brandenburg factory are increasingly becoming members of the IG Metall union due to growing apprehensions regarding health, safety, and excessive work demands.
Union representatives met with workers at various locations including the factory entrances, nearby train platforms, and within the factory itself on Monday. They distributed stickers that said "Together for safe and fair... More
Stellantis (STLA) to introduce new commercial vehicles and strategy
October 9, 2023 9:42 AM EDTStellantis (NYSE: STLA) revealed Monday morning that the automaker plans to introduce reimagined Commercial Vehicles from multiple brands on Monday, October 23, at 3 p.m. CEST / 9 a.m. EDT.
Jean-Philippe Imparato, who leads the Commercial Vehicles Business Unit, and Xavier Peugeot, the Senior Vice... More
Wells Fargo cuts price target on Tesla (TSLA) ahead of 3Q earnings report
October 9, 2023 8:44 AM EDTWells Fargo reiterated an Equal Weight rating on Tesla, Inc. (NASDAQ: TSLA) and cut their 12-month price target on the stock to $260.00 (From $265.00) ahead of the electric automakers 3Q report scheduled for October 18th.
The company announced third-quarter deliveries of 435,000 vehicles, which fell approximately 20,000 units short of the consensus estimate. Management attributed this shortfall to plant downtime during the Model 3... More
UAW President Fain holds Facebook live event - 'Our strike is working, but were not there yet'
October 6, 2023 2:36 PM EDTUnited 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
U.S. releases new guidance on EV tax credit rebate rules
October 6, 2023 10:26 AM EDTThe U.S. Treasury Department has issued fresh guidelines on Friday, outlining updated regulations that make it simpler for individuals to recover costs associated with electric vehicle purchases using the existing EV tax incentives.
Beginning on January 1, consumers will have the option to transfer these credits directly to a car dealership, effectively reducing the purchase price for the vehicle. This change is expected to potentially boost EV... More
Morgan Stanley suggests keeping an eye on these top auto tech stocks
October 6, 2023 10:02 AM EDTThe automotive industry is undergoing a transformative shift towards the Software-Defined Vehicle (SDV) era, where vehicles are becoming more reliant on sophisticated software systems. This paradigm shift, fueled by an anticipated additional $15 billion semiconductor investment over the next 5-6 years, has captured the attention of investors and industry insiders alike.
SDVs represent a monumental departure from traditional automotive design. These vehicles leverage advanced software to automate an expanding array of services and applications within the vehicle, creating a high-tech marvel on wheels.
Tesla (NASDAQ: TSLA) is undeniably the trailblazer of... More
GM airbag recall could cost ~$4-5B - Wells Fargo
October 6, 2023 8:50 AM EDTWells Fargo reiterated an Underweight rating on General Motors (NYSE: GM) and maintained their 12-month price target of $29.00 on the stock following a report by the Wall Street Journal saying U.S. regulators are pushing to recall 52M ARC airbag inflators.
The National Highway Traffic Safety Administration (NHTSA), in a rarely held public forum, recommended the recall as a mechanism utilized in the... More
Hyundai and Kia to adopt Tesla (TSLA) NACS charging connection
October 5, 2023 1:54 PM EDTTesla (NASDAQ: TSLA) received news Thursday morning that Hyundai and Kia have decided to embrace the North American Charging Standard (NACS) for their electric vehicles in the United States and Canada.
This move makes them the latest additions to a growing list of companies making the transition, following Honda's decision to adopt NACS in... More
General Motors (GM) makes counteroffer to striking UAW
October 5, 2023 1:17 PM EDTDetroit 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
GM (GM) Has at Least 20 Million Vehicles With Potentially Explosive Air-Bag Parts - WSJ
October 5, 2023 11:55 AM EDT(Updated - October 5, 2023 11:55 AM EDT)
GM (GM) Has at Least 20 Million Vehicles With Potentially Explosive Air-Bag Parts - WSJ
NHTSA Holds Meeting to Consider Whether to Order Recall Over the Air-Bag Components... MoreTesla (TSLA) option implied volatility steady
October 5, 2023 11:06 AM EDTTesla (NASDAQ: TSLA) 30-day option implied volatility is at 55; compared to its 52-week range of 42 to 96.
... MoreGeneral Motors (GM) will bring Cadillac EVs to Switzerland and other European markets
October 5, 2023 10:39 AM EDTGeneral Motors (NYSE: GM) announced Thursday that the Detroit automaker will begin selling all-electric Cadillac vehicles in Switzerland, marking the initial move in its reentry into the European market after divesting the Opel and Vauxhall brands in 2017.
In a blog post, Jaclyn McQuaid, GM's... More
Potential investment falls through for Ford’s (F) German plant
October 5, 2023 10:16 AM EDTFord (NYSE: F) revealed Thursday that a prospective investor for its Saarlouis plant in Germany has withdrawn their interest, leaving employees once again uncertain about the fate of the facility and their employment status.
A representative from the labor union expressed dissatisfaction and frustration regarding this development. They also mentioned that discussions with the company would resume on Monday regarding a... More
Active options: TSLA RIVN NVDA AAPL AMD AMZN META BAC XOM MARA
October 5, 2023 9:47 AM EDTActive options: TSLA RIVN NVDA AAPL AMD AMZN META BAC XOM MARA
... MoreFord says potential investor in Saarlouis plant pulls out
October 5, 2023 8:35 AM EDTBy Victoria Waldersee
BERLIN (Reuters) -Talks between Ford and a potential investor in its plant in Saarlouis, Germany have fallen through, the carmaker said on Thursday, plunging workers back into uncertainty over the future of the site and their jobs.
A union representative expressed disappointment and anger at the news, saying talks with the company would continue on Monday on a collective bargaining agreement for workers who stood to lose their jobs.
"This will be expensive for Ford," union representative Joerg... More
LG Energy Solution and Toyota (TM) Sign Long-term Battery Supply Agreement to Power Electric Vehicles in the U.S.
October 4, 2023 3:00 PM EDTLG Energy Solution (KRX: 373220) and Toyota Motor North America, Inc. (Toyota) today announced that they have signed a supply agreement for lithium-ion battery modules to be used in Toyota battery electric vehicles (BEVs) that will be assembled in the United States.
Under the contract, LG Energy Solution will supply automotive battery modules at an annual capacity of 20GWh starting from 2025. The battery modules, consisting of high-nickel NCMA (nickel, cobalt, manganese,... More
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
Judge denies re-trial in Tesla (TSLA) racial harassment case
October 4, 2023 2:05 PM EDTU.S. District Judge William Orrick, on Wednesday ruled against ordering a third trial in a race discrimination lawsuit filed against Tesla (NASDAQ: TSLA).
The decision came in response to allegations made by a former Black factory worker, who claimed that the... 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
Active options: TSLA AAPL NVDA AMZN PLTR MSFT AMD META
October 4, 2023 9:46 AM EDTActive options: TSLA AAPL NVDA AMZN PLTR MSFT AMD META
... MoreChina criticizes EU following formal launch of EV subsidy probe
October 4, 2023 9:39 AM EDTChina raised concerns on Wednesday about the very limited time it was given by the European Union for talks regarding the EU's investigation into subsidies for electric vehicles.
These comments came as the European Commission officially started looking into whether to impose tariffs to shield EU manufacturers from a flood of cheaper Chinese electric vehicles that are believed to benefit from state subsidies.
The... More
Ford Motor (F) Announces Q3 Sales Up 7.7 Percent
October 4, 2023 9:17 AM EDTFord (NYSE: F) posted gains across its portfolio of gas, electric and hybrid vehicle lines in the third quarter with F-Series expanding its lead as Americas No. 1 selling truck, followed by record electric and hybrid vehicle sales and strong commercial Transit van sales.
Ford Continues as Americas No. 1 selling truck manufacturer as total truck sales expand in Q3Bronco family up 24.8 percent on sales of 66,120 SUVsNew 7th generation Mustang hits the streets first full month of sales up 90.4 percentFord hybrid vehicles post best-ever sales on strong F-Series and... MoreSeptember 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
Wallbox (WBX) and Free2move eSolutions Collaborate to Accelerate EV Adoption in North America
October 4, 2023 6:37 AM EDTWallbox (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
CFRA Upgrades General Motors (GM) to Sell
October 3, 2023 4:53 PM EDTCFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Strong Sell to Sell with a price target of $28.00.
The analyst commented, "We maintain our 12-month target of $28, based on a 2024 P/E of 4.2x, a steep but justified discount to historic averages. We increase our 2023 adjusted... 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
Warren Buffet-backed BYD closing in on Tesla (TSLA) EV sales
October 3, 2023 3:23 PM EDTTesla's (NASDAQ: TSLA) underwhelming third-quarter delivery figures have opened a door for its nearest competitor, BYD, the Chinese electric vehicle juggernaut backed by Warren Buffett's Berkshire Hathaway, to potentially claim the top spot in the electric car market rankings.
Last quarter, Tesla managed to sell... More
FCA Third-quarter 2023 US Sales Down 1% (STLA)
October 3, 2023 2:09 PM EDT2023 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
General Motors (GM) reports Q3 vehicle sales of 674,336
October 3, 2023 12:02 PM EDTGeneral Motors (NYSE: GM) reports Q3 vehicle sales of 674,336
28% EV sales increase compared to second quarter... MoreToyota Motor (TM) option IV increases
October 3, 2023 11:21 AM EDTToyota Motor (NYSE: TM) 30-day option implied volatility is at 29; compared to its 52-week range of 16 to 74.
... MoreTesla (TSLA) option IV flat
October 3, 2023 11:20 AM EDTTesla (NASDAQ: TSLA) 30-day option implied volatility is at 56; compared to its 52-week range of 42 to 96.
... MoreStellantis (STLA) option IV increases
October 3, 2023 11:19 AM EDTStellantis (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.
... MoreFord Motor (F) option IV increases
October 3, 2023 11:18 AM EDTFord Motor (NYSE: F) October weekly call option implied volatility is at 24, October is at 40; compared to its 52-week range of 27 to 588.
... MoreGeneral Motors (GM) option IV increases
October 3, 2023 11:17 AM EDTGeneral Motors (NYSE: GM) October weekly call option implied volatility is at 44, October is at 41; compared to its 52-week range of 27 to 60.
... MoreStellantis (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
Tesla (TSLA) brings back rear-wheel Model Y at discounted price
October 3, 2023 10:27 AM EDTTesla Inc. (NASDAQ: TSLA) has reintroduced the rear-wheel-drive version of its Model Y crossover in the United States, following a third-quarter delivery report that didn't meet Wall Street's projections.
The Model Y, introduced for deliveries in March 2020, remains the top-selling model for the... More
Active options: TSLA NVDA AAPL AMZN BA AMD PLTR MARA META INTC
October 3, 2023 9:53 AM EDTActive options: TSLA NVDA AAPL AMZN BA AMD PLTR MARA META INTC
... MoreTesla (TSLA) PT Lowered to $243 at Truist Securities
October 3, 2023 7:29 AM EDTTruist Securities analyst William Stein lowered the price target on Tesla (NASDAQ: TSLA) to $243.00 (from $254.00) while maintaining a Hold rating.... More
General Motors (GM) PT Lowered to $29 at Wells Fargo
October 3, 2023 6:42 AM EDTWells Fargo analyst Colin M. Langan lowered the price target on General Motors (NYSE: GM) to $29.00 (from $33.00) while maintaining a Underweight rating.... More
3 analysts discuss Tesla stock and earnings setup after weak Q3 deliveries
October 3, 2023 5:53 AM EDTYesterday, Tesla (NASDAQ: TSLA) reported a total Q3 production of 430,488 vehicles and deliveries of 435,059 EV units.
To provide context, during the second quarter, Tesla had reported total deliveries of 466,140 and total vehicle production of 479,700. In the same period in the previous year, Tesla's total vehicle production was 365,923, with deliveries amounting to 343,830.
During the company's previous earnings call in July, CEO Elon Musk had indicated a target of 1.8 million vehicle deliveries for the full year but expected a slight decline in third-quarter production due to factory upgrades following summer shutdowns.
A... More
Active options: TSLA NVDA AAPL AMZN AMD META MSFT RIVN PLTR
October 3, 2023 4:04 AM EDTActive options: TSLA NVDA AAPL AMZN AMD META MSFT RIVN PLTR
... MoreFord (F) PT Lowered to $12 at Goldman Sachs
October 3, 2023 3:18 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on Ford (NYSE: F) to $12.00 (from $13.00) while maintaining a Neutral rating.... More
General Motors (GM) PT Lowered to $32 at Goldman Sachs
October 3, 2023 3:18 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on General Motors (NYSE: GM) to $32.00 (from $47.00) while maintaining a Buy rating.... More
Tesla (TSLA) PT Lowered to $252 at Goldman Sachs
October 3, 2023 3:17 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on Tesla (NASDAQ: TSLA) to $252.00 (from $265.00) while maintaining a Neutral rating.... More
