Tesla reported third-quarter earnings Wednesday that topped analysts’ estimates even as revenue came in just shy of expectations. The stock popped roughly 17% in Thursday morning trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: 72 cents, adjusted vs. 58 cents expected Revenue: $25.18…
DETROIT — Shares of General Motors saw their largest daily increase since March 2020 on Tuesday after the company topped Wall Street’s third-quarter earnings expectations, increased 2024 guidance and reconfirmed plans for shareholder returns and resilient earnings next year. Shares of the Detroit automaker closed Tuesday at $53.73, up 9.8% — marking the highest daily percentage increase for the…
Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Nathan Laine | Bloomberg | Getty Images DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned. The…
New GMC trucks are displayed on the sales lot at Hanlees Hilltop GMC in Richmond, California, July 2, 2024. Justin Sullivan | Getty Images DETROIT — General Motors expects its 2025 adjusted earnings to be in a “similar range” to the company’s results this year, CFO Paul Jacobson said Tuesday during the company’s investor day. The Detroit automaker’s targeted…
General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. Photo by Steve Fecht for General Motors DETROIT — General Motors will drop the name “Ultium” for its electric vehicle batteries and supporting technologies after spending years promoting the brand as it rethinks its EV and…
Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. Frederic J. Brown | AFP | Getty Images WARREN, Mich. – If everything had gone to plan for General Motors over the last three years, the Detroit automaker would be well on its way to catching Tesla…
UAW president Shawn Fain and members and workers at the Mopar Parts Center Line, a Stellantis Parts Distribution Center in Center Line, Michigan, picket outside the facility after walking off their jobs at noon on September 22, 2023. Matthew Hatcher | AFP | Getty Images DETROIT – A year after unprecedented strikes by the United Auto Workers against the…
A Boeing 737 MAX aircraft is assembled at the Boeing Renton Factory in Renton, Washington, on June 25, 2024. Jennifer Buchanan | Afp | Getty Images Boeing workers are voting on a new labor contract Thursday, setting up the potential for a crippling strike that the company’s CEO said would jeopardize the struggling plane-maker’s recovery. The tentative agreement that…
Fronts of the GMC Sierra Denali,Tesla Cybertruck and Ford F-150 Lightning EVs (left to right). Michael Wayland / CNBC DETROIT – Tesla, General Motors, Rivian Automotive and Ford Motor have created a new market in the U.S. automotive industry of pricey, powerful and precarious electric pickup trucks that sell for $100,000 or more. Just five years ago, the idea of…
A Cruise autonomous taxi in San Francisco, California, US, on Thursday Aug. 10, 2023. David Paul Morris | Bloomberg | Getty Images Uber Technologies and General Motors’ Cruise have agreed to a multi-year partnership, under which the embattled autonomous vehicle company plans to offer driverless rides to Uber users as soon as next year. The Thursday announcement comes as…
