Data shows VW, Toyota lose market share in 2023

Tesla (TSLA) trades down following price cuts in China

Shares of Tesla (NASDAQ: TSLA) are down more than 3% in pre-market trading Friday morning after the electric automaker officially reduced the price of their Model 3 and Model Y in China, with cuts ranging from Rmb6.5k to Rmb15.5k.

According to channel checks conducted by Morgan Stanley, the reduction was more moderate than what the... More

Toyota (TM) prepares to roll out solid-state EV batteries

An executive from Japans Toyota Motor (NYSE: TM) announced Thursday that the automaker is preparing to launch solid-state batteries that charge faster and last longer.

Indias head of Toyota Kirloskar, Vikram Gulati announced that electric vehicles with solid state batteries will be rolling out a couple of years from... More

Jefferies names their top EV picks in China

Jefferies expects the sale of Chinese New Energy Vehicles (NEVs) will grow 30% YoY in 2024 as affordability improves and supply continues to be strong, driving NEV penetration up to c.44%.

Jefferies released their Top Picks in the Chinese EV segment, favoring OEMs with product lineups in blue ocean markets, advanced development in smart driving, and initiatives in overseas expansion.

Jefferies likes Changan and SERES from the Huawei partnerships. For OEMs outside Huaweis ecosystem, Jefferies chose BYD, XPeng (NYSE: XPEV), and Li auto (NASDAQ:... More

Shares fall as Tesla (TSLA) announces increased pay for U.S. workers

Shares of electric vehicle giant, Tesla (NASDAQ: TSLA) are trending down more than 1.5% in pre-market trading Thursday morning after it was announced that the company notified workers at its California car plant of pay increases across its US factories.

This announcement marks the latest bump by a nonunion automaker as the United Autoworkers Union (UAW) works to increase membership in the U.S.

Tesla's facility in Fremont, California, has announced a "market adjustment pay... More

Midday movers: Boeing, Meta Platforms and more

(Updated - January 10, 2024 12:08 PM EST)

Investing.com -- Main U.S. indexes were slightly higher as investors adopted a wait-and-see approach ahead of the release of the key monthly inflation data later in the week.

Here are some of the biggest U.S. stock movers today:

Boeing (NYSE: BA) stock rose 1.5%, attempting to rebound after a drop of 9% over the last two sessions in the wake of the mid-air blow-out of a door panel on one of its 737 Max aircraft last week, even as Chief Executive Dave Calhoun... More

Tesla (TSLA) introduces updated Model 3 in North America

Tesla (NASDAQ: TSLA) introduced the redesigned iteration of its Model 3 compact sedan in North America on Wednesday, maintaining its prices despite the refresh. This update comes after the vehicle garnered significant interest upon its debut in China and Europe.

The move aims to rejuvenate Tesla's aging vehicle lineup within its primary market. It follows a price competition last year that enabled the... More

Futures broadly higher, Bitcoin swings after fake SEC post - what's moving markets

Investing.com -- U.S. stock futures were mostly higher on Wednesday with crucial inflation data out of the world's economy coming later this week. Elsewhere, the price of Bitcoin swings wildly following a false post on the Securities and Exchange Commission's account on social media platform X, while Boeing's (NYSE: BA) chief executive admits that a mid-air fuselage breach last week was the planemaker's "mistake."

1. Futures broadly higher

U.S. stock futures edged mostly into the green on Wednesday as investors awaited the release of key... More

VW, Toyota saw China market share shrink in 2023: industry association

By Qiaoyi Li and Brenda Goh

BEIJING (Reuters) - Volkswagen Group and Toyota Motor saw their share of the world's largest auto market shrink last year, industry data showed on Wednesday, as legacy international automakers ceded ground to Chinese rivals.

VW's two joint ventures in China with FAW and SAIC took a combined 14.2% share in sales terms in 2023, down from 14.8% in 2022, according to data from the China Passenger Car Association (CPCA). Sales of SAIC VW and FAW VW... More

Tesla launches restyled Model 3 in North America

(Reuters) -Tesla on Wednesday rolled out the restyled version of its Model 3 compact sedan in North America at unchanged prices, months after the vehicle attracted healthy demand upon launch in China and Europe.

The move will refresh Tesla's aging vehicle line-up in its biggest market and follows a price war last year that helped the company meet its annual deliveries goal at the cost of margins.

The revamped version of the long-range and... More

Tesla (TSLA) cuts range estimates on various EV models

Tesla (NASDAQ: TSLA) has has revised its electric vehicle driving-range estimations downward as a response to a new U.S. government regulation aimed at ensuring accuracy in reflecting real-world performance by automakers.

On its website, Tesla updated the driving range estimates for its 2023 X, S, Y, and 3 variants compared to previous versions found on a U.S. government website. The Model Y Long Range EV, for instance, now shows an estimated range of 310 miles on Tesla's site, while the government's EPA-managed fuel economy... More

Tesla lowers range estimates as U.S. regulators tighten vehicle-test rules

By Norihiko Shirouzu

(Reuters) -Tesla has lowered driving-range estimates across its lineup of electric vehicles as a new U.S. government vehicle-testing regulation takes effect with the goal of ensuring that automakers accurately reflect real-world performance.

Tesla has historically issued range estimates that overstate what its cars can deliver, prompting widespread complaints from customers, according to some automotive testing experts and a Reuters investigation last year.

Reuters reported in July that the automaker, about a decade ago, rigged the algorithm that controls in-dash range estimates in Tesla vehicles to give rosy projections of how far owners... More

'Only Chinese OEMs are likely to grow in 2024' - UBS

Car production hit nearly 90 million in 2023, growing 9% year-on-year. But for 2024, the industry faces challenges with high inventories and muted demand, leading to intense pricing competition that squeezes profits.

European manufacturers expect a significant 20-25% drop in earnings in 2024. Meanwhile, suppliers could suffer due to destocking after chip shortage... More

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Morgan Stanley shares view on XPeng (XPEV) following market correction

Morgan Stanley reiterated their Overweight rating and $23.10 price target on XPeng (NYSE: XPEV) following what Morgan Stanley analysts described as a volatile start to the year.

XPeng's H-shares experienced an 8% decline on Monday compared to the HSI's 2% drop.

Analysts at Morgan Stanley suggests that... More

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