24 x 7 World News
Browsing Category

auto

Ukraine gets 50 Chevy Tahoes, 50 Ford Rangers

The Ukrainian government now has a fleet of 50 Chevrolet Tahoes and 50 Ford Rangers to help transport its citizens out of danger, thanks to donations from their manufacturers. General Motors gave the full-size SUVs to the Ukrainian…

Musk unloads $4 billion worth of Tesla stock

Elon Musk sold about $4 billion worth of Tesla Inc. stock days after reaching a $44 billion deal to buy Twitter Inc. The Tesla chief executive officer offloaded 4.4 million shares April 26 and April 27, according to regulatory filings.…

EV adoption faces many speed bumps

EV consumer interest might not translate into as many sales as automakers and regulators would hope. Supply chain snags are likely to prevent the industry from meeting growing demand.

VW considers expanding U.S. plant

The automaker plans to invest at least $7.1 billion over the next five years in North America and add 25 new electric vehicles there by 2030, with the aim of 50 percent of sales to be electric by then. The Chattanooga plant, its only U.S.…

With Mercedes’ help, Aston Martin chases Ferrari

Stroll says with its new vehicles the company is targeting a gross profit margin per vehicle of at least 40 percent and in some cases 50 percent. Analysts put Ferrari's figure at more than 55 percent. By 2025, Aston Martin aims to sell…

GM’s new Mexican union seeks 19.2% wage hike

MEXICO CITY - The new independent labor union at General Motors' largest Mexican plant is seeking a 19.2 percent wage increase, citing surging inflation, and the U.S. carmaker has countered with an offer of 3.5 percent, the head of the…

VW’s Shanghai plant resumes output gradually

SHANGHAI -- Volkswagen Group's Shanghai factory has started gradually resuming production, the automaker said. The company’s factories in the northeastern Chinese city of Changchun, which it runs in a joint venture with China's FAW Group,…

Nissan ends Datsun budget brand

At the time of the reboot, Japan’s Nikkei business daily said Nissan targeted global volume of 300,000 units a year. But sales never blossomed in line with optimistic forecasts. Nissan could not immediately provide recent annual sales…

Honda: 800,000 EVs built in North America by 2030

This month, Honda announced it would team up with GM to sell millions of co-developed "affordable" EVs. And last month, Honda said it will partner with Japanese electronics giant Sony Corp. to market co-developed EVs from 2025.The 2…

Ferrari will recall cars globally on braking issues

Shares in Ferrari tumbled the most in more than two weeks after the sports car maker confirmed it will recall thousands of supercars due to problems with their braking system. “Vehicles involved in this recall campaign are equipped with a…