Corporate/Finance: Page 15

  • Three employees working in an engine factory.
    Image attribution tooltip

    Courtesy of Cummins.

    Image attribution tooltip

    Cummins to spend $580M to upgrade North Carolina plant

    The new equipment will expand the Rocky Mount plant’s ability to produce gasoline and propane engines.

    By • Jan. 22, 2024
  • Goodyear tires are displayed at a Goodyear Tire center September 23, 2005 in Wheeling, Illinois.
    Image attribution tooltip
    Tim Boyle via Getty Images
    Image attribution tooltip

    Goodyear names former Stellantis exec CEO

    Mark Stewart, former chief operating officer of North America at Stellantis, will lead the automotive supplier’s corporate transformation as it seeks a return to profitability.

    By • Jan. 22, 2024
  • Kia Platform Beyond Vehicle Concept Lineup
    Image attribution tooltip
    Courtesy of Kia America
    Image attribution tooltip

    Hyundai, Kia restructure R&D for mobility, software-defined vehicles

    It’s the second time the automakers have reorganized their R&D efforts in the past year. 

    By • Jan. 19, 2024
  • A car salesperson speaking with customers.
    Image attribution tooltip
    Inside Creative House/iStock/Getty Images Plus via Getty Images
    Image attribution tooltip

    FTC pauses rule to fight dealer bait-and-switch tactics, junk fees

    The National Automobile Dealers Association and the Texas Automobile Dealers Association sued the agency to block the rule from taking effect.

    By • Jan. 19, 2024
  • F-150 Lightning pickups on the assembly line at Ford's Rouge Electric Vehicle Center in Michigan.
    Image attribution tooltip
    Courtesy of Ford Motor Co.
    Image attribution tooltip

    Ford to cut F-150 Lightning production amid slowing demand

    The automaker is also increasing Bronco and Bronco Raptor production to grow sales and profitability.

    By • Jan. 19, 2024
  • A gray four-door crossover vehicle with a woman seated with her hand on the steering wheel is parked in front of a Hertz building.
    Image attribution tooltip
    Courtesy of Hertz/GM
    Image attribution tooltip

    Hertz reverses course on EVs

    The company, which once said EVs would account for a quarter of its rental fleet by 2025, is selling 20,000 vehicles and replacing them with gas-powered cars.

    By Dan Zukowski • Jan. 18, 2024
  • A car salesperson shaking hands with a customer.
    Image attribution tooltip
    skynesher/E+ via Getty Images
    Image attribution tooltip

    Consumer satisfaction with car buying experience the highest since 2020

    Larger inventories, higher discounts and more streamlined purchasing experiences are making it easier and faster for consumers to get into a new vehicle, a Cox Automotive survey found.

    By • Jan. 18, 2024
  • Image shows 3 cars under a solar canopy electric charger.
    Image attribution tooltip
    Flickr; National Renewable Energy Lab
    Image attribution tooltip

    Biden administration awards $623M for EV charging, hydrogen buildout

    The funding is a part of the federal government’s $7.5 billion push to build a national EV charging network.

    By Robert Walton • Jan. 17, 2024
  • 2024 Jeep Grand Cherokee 4xe Summit Reserve
    Image attribution tooltip
    Courtesy of Stellantis
    Image attribution tooltip

    Sixt to buy up to 250,000 vehicles from Stellantis

    The rental car company plans to buy a wide range of vehicle types, including city cars, SUVs and vans, from Fiat, Jeep, Peugeot and more.

    By • Jan. 17, 2024
  • A production operator installs a Jeep Grand Cherokee door.
    Image attribution tooltip
    Courtesy of Stellantis
    Image attribution tooltip

    UAW president calls out Stellantis for laying off over 500 workers

    The news could make it more difficult for the United Auto Workers to convince non-union autoworkers to join its ranks.

    By • Jan. 17, 2024
  • Carlos Zarlenga, Stellantis' chief operating officer for North America.
    Image attribution tooltip
    Courtesy of General Motors
    Image attribution tooltip

    Stellantis replaces its North America COO

    Before joining Stellantis, Carlos Zarlenga served as president and CEO of General Motors South America.

    By • Jan. 16, 2024
  • Tiamat sodium-ion batteries.
    Image attribution tooltip
    Courtesy of Tiamat
    Image attribution tooltip

    Stellantis invests in sodium-ion battery startup Tiamat

    The technology uses no lithium or cobalt and could help Stellantis reduce its dependence on other countries, including China, for EV battery materials.

    By • Jan. 16, 2024
  • A Ford F-150 Lightning being assembled.
    Image attribution tooltip
    Courtesy of Ford Motor Co.
    Image attribution tooltip
    Deep Dive

    The UAW won big for future EV battery plants

    The United Auto Workers agreements with GM, Ford and Stellantis will likely increase labor costs for the Big Three as more EV battery plants open. 

    By Kalena Thomhave • Jan. 16, 2024
  • Person looking at manufacturing floor
    Image attribution tooltip

    Gorodenkoff/Shutterstock.com

    Image attribution tooltip
    Sponsored by Balance

    Maximizing online automotive sales through smart payment processes

    From sales to customer experience, here are the ways that B2B payments can be a source of growth.

    Jan. 16, 2024
  • A Cadillac Lyriq being built.
    Image attribution tooltip
    Courtesy of General Motors
    Image attribution tooltip
    Deep Dive

    Automotive consumer trends in 2024

    Buyers remain concerned about the price of EVs and a lack of a national charging infrastructure, hampering EV adoption.

    By , • Jan. 10, 2024
  • Pham Nhat Vuong
    Image attribution tooltip
    Courtesy of VinFast
    Image attribution tooltip

    EV startup Vinfast swaps CEO, board leadership

    The shift comes as the fledgling automaker seeks to grow its U.S. sales.

    By • Jan. 9, 2024
  • United States Department of Transportation building
    Image attribution tooltip
    traveler1116 via Getty Images
    Image attribution tooltip

    Transportation tech, challenges on agenda for new US DOT advisory committee

    The wide range of experts will advise the agency in what Transportation Secretary Pete Buttigieg called a time of “unprecedented” challenges and opportunity.

    By Dan Zukowski • Jan. 5, 2024
  • Semiconductor
    Image attribution tooltip
    Michelle Rock/Automotive Dive, data from Getty Images
    Image attribution tooltip

    CHIPS and Science Act not enough to strengthen the semiconductor industry: CSCMP report

    The industry group's recent report stressed the need for more investment to fortify the country's chip supply.

    By • Jan. 5, 2024
  • 2024 Cadillac LYRIQ
    Image attribution tooltip
    Courtesy of General Motors
    Image attribution tooltip

    GM to provide $7,500 incentive for EVs that lost tax credit eligibility

    The move aims to help General Motors dealers sell EVs until more of its models are eligible for federal clean energy vehicle tax credits.

    By • Jan. 4, 2024
  • A hurge red pickup truck center staged, another huge pickup truck stage right, and people in the audience.
    Image attribution tooltip

    Courtesy of Stellantis

    Image attribution tooltip

    Cummins reaches $1.7B settlement with EPA, California for emissions violations

    The Justice Department accused the engine maker of installing parts that exceeded emissions standards in 630,000 Dodge Ram pickup trucks.

    By • Jan. 4, 2024
  • A pickup truck parked in front of a Chevrolet dealership in Houston, Texas.
    Image attribution tooltip
    Brandon Bell via Getty Images
    Image attribution tooltip

    GM, Hyundai and other top automakers report record US sales in 2023

    Higher deliveries, supply chain improvements and stronger dealer incentives fueled the jump in new vehicle sales.

    By • Jan. 4, 2024
  • A Mercedes-Benz GenH2 Daimler Truck with a white cab and black trailer drives on a sunny road.
    Image attribution tooltip
    Courtesy of Daimler Truck
    Image attribution tooltip

    Amazon to trial Mercedes-Benz hydrogen fuel-cell trucks in 2024

    Daimler Truck aims to make its carbon neutral vehicles available in core markets, including the U.S., Europe and Japan, by 2039.

    By Iulia Gheorghiu • Jan. 3, 2024
  • A Ford F-150 Lightning electric pickup on the road.
    Image attribution tooltip
    Courtesy of Ford Motor Co.
    Image attribution tooltip

    Over 20 EVs will lose tax credit eligibility in 2024

    Fewer eligible vehicles could make it harder for automakers to sell EVs by making them less affordable.

    By • Jan. 2, 2024
  • Vehicles for sale at an AutoNation car dealership.
    Image attribution tooltip
    Mario Tama/Staff/Getty Images News via Getty Images
    Image attribution tooltip

    US new vehicle sales up 12.8% in 2023: J.D. Power

    Despite declining transaction prices, dealers’ “profits continue to exceed pre-pandemic levels,” Thomas King, president of the data and analytics division at J.D. Power, said.

    By • Dec. 22, 2023
  • A drone view of a train passing alongside Puerto de Anapra town at the border between USA and Mexico.
    Image attribution tooltip
    THEPALMER via Getty Images
    Image attribution tooltip
    Deep Dive

    Mexico’s nearshoring wave is years in the making

    Whether through foreign direct investments or internationally purchased goods, the automotive sector has an outsized share of Mexico's trade.

    By Alejandra Carranza , • Dec. 21, 2023