Corporate/Finance: Page 3
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Courtesy of Volkswagen
Volkswagen slashes financial outlook — again
It’s the second time in less than three months that VW has warned of reduced profits.
By Haley Cawthon • Oct. 3, 2024 -
Courtesy of Stellantis
Stellantis’ sales struggles spur lower guidance
The automaker also adjusted its inventory and shipment plans, citing "corrective actions" in North America.
By Haley Cawthon • Oct. 2, 2024 -
Brandon Bell via Getty Images
Dealer pessimism rises amid concerns about economy, election
The sentiment is likely driven by rising costs and declining profitability relative to an industry peak in 2021, according to a recent Cox Automotive survey.
By Kalena Thomhave • Sept. 30, 2024 -
Bilanol/iStock/Getty Images Plus via Getty Images
Fed rate cut unlikely to boost US auto sales in Q4
However, continued interest rate cuts and lower vehicle prices could make a difference in 2025, analysts said.
By Michael Brady • Sept. 27, 2024 -
Nic Antaya via Getty Images
White House backs $1B EV supplier fund
Monroe Capital’s managed fund is focused on helping small- and medium-sized auto manufacturers transition to electric vehicle production.
By Kate Magill • Sept. 25, 2024 -
EXTREME-PHOTOGRAPHER via Getty Images
Biden administration proposes expanding tax credits for EV charger installations
The proposed rule would expand on January guidance from the Treasury Department, allowing the tax credit to be accessed per individual charging port installed.
By Robert Walton • Sept. 23, 2024 -
Anna Moneymaker via Getty Images
Fed cuts main rate by half point, voices confidence inflation falling
The central bank trimmed borrowing costs from a two-decade high after policymakers noted their growing concern about softening in the labor market.
By Jim Tyson • Sept. 19, 2024 -
Brandon Bell / Staff via Getty Images
Amid political talk at work, employees say they want resources for psychological safety
Employers can facilitate open and respectful dialogue, as well as offer policies and resources to address employees’ concerns and needs, Randstad says.
By Carolyn Crist • Sept. 18, 2024 -
Courtesy of General Motors
GM moves BrightDrop EVs under Chevy brand
The decision aims to make it more convenient for commercial customers to maintain and service the electric vehicles.
By Eric Walz • Sept. 17, 2024 -
Dan Kitwood via Getty Images
Former Hyundai CMO named X’s global head of marketing
At the automaker, Angela Zepeda was named one the world's most influential people in the role by Forbes.
By Peter Adams • Sept. 16, 2024 -
Courtesy of Ford Motor Co.
Ford Pro CEO to step down
Ted Cannis, who has led the automaker's most profitable business unit since its founding, is retiring after 35 years.
By Haley Cawthon • Sept. 16, 2024 -
Courtesy of BMW Group AG
BMW lowers guidance amid costly recall, China headwinds
The automaker says faulty integrated braking systems on 1.5 million vehicles will result in nine-figure warranty costs in Q3.
By Haley Cawthon • Sept. 16, 2024 -
Courtesy of Stellantis
Stellantis invests over $400M in 3 Michigan facilities
The automaker’s electrification strategy involves retooling several factories to assemble electric vehicles alongside internal combustion engine models.
By Haley Cawthon • Sept. 11, 2024 -
Courtesy of Volkswagen
Volkswagen switches exec roles, naming new finance chief
Patrik Andreas Mayer and David Powels are trading positions as the automaker takes big operating losses in its passenger cars division.
By Haley Cawthon • Sept. 10, 2024 -
Courtesy of Hyundai Motor Co.
4 takeaways from Hyundai’s updated long-term strategy
Extended-range EVs, advanced technologies for hybrid vehicles and new models are in store over the next decade.
By Eric Walz • Sept. 10, 2024 -
Courtesy of General Motors
Former Visa CEO joins GM board
The automaker says Alfred Kelly will be an asset as it looks to unlock growth opportunities in electric and autonomous vehicles.
By Haley Cawthon • Sept. 9, 2024 -
Michael M. Santiago via Getty Images
Uber taps former Tesla exec to oversee sustainability strategy, shift to EVs
Rebecca Tinucci will oversee the ride-share giant’s transition to becoming an emissions-free mobility platform by 2040.
By Zoya Mirza • Sept. 5, 2024 -
Courtesy of Polestar
Polestar hires Stellantis exec as next CFO
Jean-Francois Mady will step into the role as the EV maker faces several challenges, including potential delisting from the Nasdaq stock exchange.
By Haley Cawthon • Sept. 5, 2024 -
Courtesy of Porsche
Porsche plans majority takeover of Varta battery unit
The automaker expects to participate in the reorganization of the manufacturer, whose lithium-ion cells are used in the hybrid Porsche 911 Carrera GTS.
By Haley Cawthon • Sept. 4, 2024 -
Courtesy of Stellantis
Stellantis promotes 2 to help lead North America operations
The automaker has been shaking up its leadership ranks, this time naming a new Jeep head and network development lead for the region.
By Haley Cawthon • Sept. 4, 2024 -
Courtesy of Mazda North America
Mazda promotes Japan exec as North America CFO
The automaker says Tatsuro Omura will play a key role in steering its financial strategy and operations in the U.S.
By Haley Cawthon • Sept. 3, 2024 -
Courtesy of Polestar
Polestar CEO resigns
The company announced that Michael Lohscheller, who has previously served as CEO of Opel, VinFast and Nikola, will take over as CEO on Oct 1.
By Eric Walz • Aug. 30, 2024 -
Courtesy of Ford
Ford names new design head
Todd Willing, who has been with the automaker for over two decades, now leads design for Ford and Lincoln vehicles worldwide.
By Haley Cawthon • Aug. 29, 2024 -
Courtesy of Hyundai Motor America
Hyundai Motor America names chief marketing officer
Sean Gilpin will also retain his responsibilities as VP of global sales and marketing for Hyundai Motor Co.
By Eric Walz • Aug. 28, 2024 -
Courtesy of Tesla Inc.
Longtime Tesla finance VP bids farewell
Eleven-year veteran Sreela Venkataratnam resigned, writing in a LinkedIn post that the company is “not for the faint of heart.”
By Haley Cawthon • Aug. 26, 2024
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