Looking for a cheap new car? Leasing an EV may be your best option, study says

New car shoppers can save up to $500 per month by leasing an electric vehicle instead of comparable gas-powered vehicles, an Energy Innovation Policy & Technology report found.

By Michael Brady • Aug. 25, 2023

US new vehicle sales up 15.4% in August: J.D. Power

Retail sales of new vehicles will reach nearly 1.4 million this month, J.D. Power and GlobalData said.

By Michael Brady • Aug. 25, 2023

UAW strike would have domino effect on suppliers

Many auto suppliers, already experiencing economic instability, are unprepared for a strike and may turn to layoffs to deal with a work stoppage.

By Kalena Thomhave • Aug. 22, 2023

Continental may sell ContiTech amid electric vehicle shift: report

ContiTech, which makes industrial and automotive rubber, plastic, metal and fabric components, posted sales of about $7.2 billion in 2022.

By Eric Walz • Aug. 22, 2023

Is Tesla’s ‘Master of Coin’ the CFO white whale?

Zachary Kirkhorn’s sudden exit from the EV maker has sparked questions around what a second act might look like for a 38-year-old ex-CFO with a net worth of $590 million.

By Maura Webber Sadovi • Aug. 16, 2023

Tesla launches lower-priced Model S, X versions

The automaker has cut electric vehicle prices multiple times since last year, but CEO Elon Musk said in July that the company would sacrifice its margins to drive volume growth.

By Eric Walz • Aug. 16, 2023

Ford hires Apple vet to lead new software services group

Peter Stern will lead Ford Integrated Services, which aims to expand offerings related to the automaker’s BlueCruise hands-free driving system.

By Michael Brady • Aug. 15, 2023

Honda’s US sales spur 78% leap in Q1 profits as supply chain disruptions ease

The carmaker delivered nearly 45% more vehicles in the United States from April to June but saw sales declines in China.

By Eric Walz • Aug. 10, 2023

Rivian boosts production by 50% in Q2

Electric vehicle deliveries grew by 50% while gross profit per vehicle improved by roughly $35,000 as the company increased cost efficiencies across all major categories.

By Eric Walz • Aug. 9, 2023

Toyota shakes up data, software leadership as it revamps EV plans

The automaker promoted Christopher Yang to president and CEO of Toyota Connected North America.

By Michael Brady • Aug. 7, 2023

Tesla CFO resigns after 13 years at the company

The automaker’s chief accounting officer, Vaibhav Taneja, took over on Aug. 4, replacing Zachary Kirkhorn. 

By Eric Walz • Aug. 7, 2023

Former Hyundai Motor America, Waymo CEO John Krafcik joins Rivian’s board

The industry veteran has considerable experience with manufacturing and automotive technology, including autonomous vehicles.

By Eric Walz • Aug. 3, 2023

Tesla owners allege false advertising over EV ranges in class-action lawsuit

If the court approves the suit, people in California could join it, potentially exposing the automaker to significant legal risk.

By Michael Brady • Aug. 3, 2023

Subaru has a more aggressive EV plan

The automaker aims to boost global battery-electric vehicle sales to 50% by 2030.

By Michael Brady • Aug. 2, 2023

Paccar projects boost in production for 2023

Despite lingering supply chain issues, the OEM aims to build at least 290,000 Class 8 trucks for the U.S. and Canada.

By David Taube • Aug. 2, 2023

Former Carvana exec joins Rivian as chief policy officer

Alan Hoffman is filling a similar role vacated by Jim Chen, who left in February along with other high-profile exits.

By Michael Brady • Aug. 1, 2023

Mercedes-Benz invests over $2.2B in AI reskilling

The carmaker is offering data and digitalization training to over 600 employees as auto manufacturing modernizes.

By Michael Brady • Aug. 1, 2023

Ex-Tesla employees report layoffs on LinkedIn

An employee posted on the professional networking site that the cuts were part of an “org restructuring.”

By Eric Walz • Aug. 1, 2023

EV startup VinFast plans US public listing in August

The Vietnam-based automaker aims to expand its U.S. business and invest up to $4 billion to assemble electric vehicles and battery packs at its North Carolina factory.

By Eric Walz • July 31, 2023

Ford expects to lose $4.5B on EVs in 2023

The automaker will focus on fewer, higher volume models in popular segments, such as pickups and full-size SUVs, for its next generation of electric vehicles.

By Eric Walz • July 28, 2023

Nissan, Renault overhaul their alliance

The two companies will keep a 15% stake in each other, with Renault Group transferring 28.4% of its Nissan shares to a French trust.

By Michael Brady • July 27, 2023

Fed raises interest rates following June pause

The Federal Open Market Committee raised the main interest rate by a quarter percentage point after a two-day meeting. The move comes as the Fed faces increasing difficulties in its bid to fully quell inflation.

By Grace Noto • July 27, 2023

VinFast to break ground on first $2B phase of US plant

The facility will be the Vietnam-based startup’s first North American location and the first automotive manufacturing plant in North Carolina.

By Sara Samora • July 26, 2023

GM to bring back Chevrolet Bolt despite earlier plan to discontinue the EV

The automaker also said during its earning call that rising costs, including from its battery joint venture with LG, cut into its margins.

By Eric Walz • July 26, 2023

Foxconn to take 50% stake in ZF Group’s passenger vehicle chassis unit

The move is part of Foxconn’s diversification strategy, which includes expanding its automotive business and taking a 5% share of the global EV market by 2025.

By Eric Walz • July 25, 2023