GM provides $7,500 incentive to offset Tax Credit loss for EVs
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Stellantis (STLA) EV production falls short in Italy
January 5, 2024 10:44 AM ESTItalys FIM CISL union revealed Friday that automaker, Stellantis (NYSE: STLA) has produced a lot fewer fully-electric 500e units in the country than initially planned, as buyers are holding off until the government can roll-out EV purchasing incentives.
According FIM CISL leader Ferdinando Uliano,... More
Wolfe upgrades General Motors (GM) on favorable risk/reward
January 4, 2024 9:42 AM ESTWolfe Research upgraded General Motors (NYSE: GM) to an Outperform rating (From Peer Perform) and set a 12-month price target on the stock at $42.00 as analysts believe investors have underestimated the earnings and cash flow power that GM will generate over the near- to medium-term.
Wolfe believes that considering GM's cash deployment strategy, it's improbable for the company's shares to stay at their... More
Stellantis (STLA) slumps amid market challenges
January 3, 2024 12:15 PM ESTStellantis (NYSE: STLA), the parent company of Jeep, is trending down more than 3% during mid-day trading on Wednesday, reflecting a downturn in vehicle sales.
Financial experts at Equita have identified Stellantis as "among the worst performers in the automobile sector, citing disappointing year-over-year sales... More
General Motors (GM) Reports U.S. Q4 and Full-Year Sales
January 3, 2024 11:21 AM ESTGeneral Motors Co. (NYSE: GM) and its dealers delivered 2.6 million vehicles in the U.S. in 2023, up 14% year-over-year. GM led the industry in total sales and was the top selling manufacturer of trucks, full-size pickups, full-size SUVs, affordable SUVs and fleet vehicles.
GM... More
GM offers $7,500 incentive for EVs losing US tax credit
January 3, 2024 10:33 AM ESTBy David Shepardson
WASHINGTON (Reuters) -General Motors said on Wednesday it is offering incentives of $7,500 on its electric vehicles that earlier this week lost a U.S. government tax credit, while Ford Motor said it is hiking the prices of some of its F-150 EVs by $10,000.
The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the U.S. EV supply chain away from China. The guidelines took effect on Monday.
GM said last month that all of its EVs would temporarily lose eligibility except the Chevrolet Bolt, adding that the... More
Ford to recall 112,965 F-150 trucks - NHTSA
January 3, 2024 5:43 AM EST(Reuters) - Ford is recalling 112,965 units of its F-150 vehicles because of its rear axle hub bolt which may break, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday.
(Reporting by Gnaneshwar Rajan in Bengaluru)
... More