GM provides $7,500 incentive to offset Tax Credit loss for EVs

Stellantis (STLA) EV production falls short in Italy

January 5, 2024 10:44 AM EST

Italys 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 EST

Wolfe 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 EST

Stellantis (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 EST

General 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 EST

By 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