automotive

Even as May’s inflation print was better-than-expected, it snapped a four-month falling streak and rose slightly, hinting that firms absorbed some tariff-induced price hikes. What Happened: “Surprisingly, new and used vehicle prices declined in May, despite many expecting an increase in...

General Motors Company (NYSE:GM) CEO Mary Barra postponed an earnings call to Thursday, May 1, sending the auto manufacturer’s share prices lower in the premarket session. The announcement came after the Detroit-based company reported first-quarter results. According to the financial results...

Bank of America Securities analyst Steve Byrne downgraded Dow Inc. (NYSE:DOW) to Underperform from Buy, lowering the price forecast from $44 to $28. The analyst cited a combination of weakening macroeconomic conditions, rising U.S. feedstock costs, and increasing trade barriers as factors creating...

CarMax, Inc. (NYSE:KMX) shares are trading higher after the company reported fourth-quarter earnings results. Quarterly sales of $6 billion beat the street view of $5.96 billion. Retail used unit sales rose by 6.2% Y/Y Comparable store used unit sales increased by 5.1% Y/Y Wholesale...

President Donald Trump‘s 25% tariffs on auto imports could threaten to upend the entire U.S. automotive industry. How? According to Bank of America, car prices will be higher, and millions of unit sales could be wiped out. In a report titled “Chicken Tax 2.0 Goes Whole Hog,”...

Europe’s biggest automaker, Volkswagen (OTC: VWAGY) is considering plant closures for the first time in its 87-year-old history. But Volkswagen is merely a reflection of a struggling European auto industry that is currently challenged on many fronts, with its struggles being both the global...

A possible strike by thousands of dockworkers at East and Gulf coast ports in October could result in major disruptions in the supply chain of goods coming in and out of the U.S., according to an export on container trade. The International Longshoremen's Association (ILA), representing more than...

On Thursday, General Motors (NYSE: GM) and Hyundai Motor Company (OTC: HYMTF) announced that they signed a memorandum to explore joint product development, manufacturing, and clean energy technologies. Together, they will try to find ways to leverage their scale and complementary...

On Sept. 5, Benzinga’s AutoRevolution: The Future of Mobility and EVs, sponsored by Dragonfly, will bring together top industry voices for an essential discussion on the transformation underway in the automotive world. This event will explore the most pressing sector topics and feature...

Key Takeaways: Ecarx’s revenue grew 31% in the second quarter, apparently driven by sales to brands owned by its controlling shareholder Geely The company’s heavy reliance on Geely and its subsidiaries leaves it vulnerable if ties between the two weaken By Warren Yang An ongoing drive...

The latest earnings reports from Rivian Automotive (NASDAQ: RIVN) and Lucid Group Inc (NASDAQ: LCID) made two things clear. The first is that pure play EV makers are continuing to struggle, burning a ton of cash along the way. The second is that having wealthy backers makes the...

Today, O'Reilly (NASDAQ:ORLY) experienced a Power Inflow, a crucial event for investors who use order flow analytics in their investment strategies. This Power Inflow marks a shift from a net selling to a net buying environment, illustrating a significant inflow that exceeds outflow. Such a change...

A cyber incident at automotive data provider CDK Global, whose software is utilized by auto dealers, disrupted operations on Wednesday across the U.S. and Canada. What Happened: The company, which was purchased by Brookfield Business Partners (NYSE:BBU) in 2022 for more than $8 billion, is “...

Ford Motor Co (NYSE:F) shares are ticking lower on Thursday. The auto company announced further job cuts at its Valencia, Spain, assembly plant, totaling up to 1,600 positions, following a previous reduction of 1,100 staff last year. The decision reflects ongoing adjustments in Ford’s...

Tesla (NASDAQ: TSLA) is gaining momentum with a strong outlook, despite concerns about slower growth in 2024. At current levels, the stock offers a compelling risk-reward ratio, especially since it's trading over 60% below its all-time highs, suggesting much of the slowdown is already priced in...