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Tag: Earnings and financials

EV Startups Posting Big Losses During Third Quarter

Zephyrnet
The investor community is abuzz about Rivian’s announcement of a Q3 net loss of $1.88 per share or $1.72 billion against revenue of $536...

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New Vehicle Prices Set Record — Again — in August

Automotive
Consumers paid an average price of $48,301 in August 2022 for their new vehicle, according to Kelley Blue Book. Not only is that a...

Volkswagen Group to Sell 25% Stake in Porsche IPO

Automotive
Despite a bleak market for Initial Public Offerings (IPO), Volkswagen Group is going ahead with a planned IPO, expected to unlock as much as...

Buick Offers Buyouts to U.S. Dealers Wanting to Avoid EV Investment

Automotive
With Buick due to reintroduce the Electra name as it moves to an all-electric line-up by 2030, the brand will make an offer to buy...

Tesla Stock Holds Up after 3-for-1 Stock Split

Automotive
Investors seemingly went on about their day as normal in the first day of trading after Tesla Inc.’s 3-for-1 stock split. The stock split after...

New Car Prices Reach New Highs as Inventories Remain Thin

Automotive
You’re out of luck if you were hoping that manufacturers would offer incentives to clear out cars from the 2022 model year.  “The lack of...

Economic Volatility Drives Record Auction Prices at Monterey

Automotive
Call it the perfect storm.  Last week’s auctions during Monterey Car Week produced a $469 million worth of collector car sales, 18.9% more than the...

GM Resets Share Buyback, Hikes Dividend

Automotive
With the value of its stock down substantially this year, General Motors confirmed it plans to move ahead with buybacks of the company’s shares...

Rivian Adding Second Shift to Hit 25K Production Goal

Automotive
After a rough start to production, EV maker Rivian seems to be getting its feet under it, revealing during its Q2 earnings call it...

Lucid Cuts 2022 Production Estimate to 6K-7K Vehicles

Automotive
Lucid Motors revealed its cutting its estimated full-year production number in half, down to 6,000 to 7,000 units after supply chain issues and, more...

Oil Giants Bring in Record Profits on Gas Price Surge

Automotive
Oil giant Exxon Mobil Friday announced a record $17.85 billion profit for the second quarter of the year, while Chevron announced it also hit...

Ford Posts “Solid” Results for Second Quarter

Automotive
Ford turned a profit in the second quarter as it battled supply chain issues like other U.S. automakers, describing its Q2 net income of...

GM Earnings Take a Hit in Second Quarter

Automotive
General Motors’ second quarter earnings lagged the year ago period despite increased revenue during the period. However, the company says its on track to...
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