Automotive

Rivian Shares Fall 6% as CFO Claire McDonough Departs for GE Vernova

Rivian stock dropped about 6% on Thursday after CFO Claire McDonough announced she would step down to join GE Vernova during the automaker's affordable-EV

Bank of Korea Raises Rate to 3% in Second Straight Hike

The Bank of Korea raised its benchmark rate 25 basis points to 3.0% on Thursday, a second straight hike backed by a chip-led export boom.

Warsh Cuts Fed Statement to 130 Words, Drops All Rate-Cut Language

Fed Chair Kevin Warsh shortened the post-meeting statement to 130 words from 341, removing all mention of future rate cuts and hinting at higher-for-longer

Trump Demands FCC Punish NBC Host, Treasury Bars Reporters From G20

Trump called for FCC punishment of NBC host Kristen Welker on Sunday as the Treasury barred NYT, WSJ and Bloomberg reporters from G20 events.

Bessent Says U.S. Will Sanction Another Bank Over Iran Ties This Week

Treasury Secretary Scott Bessent said the U.S. will sanction another bank this week to clamp down on Iran transactions, ahead of G20 meetings in North Caro

Rivian Shares Fall 6% as CFO Claire McDonough Departs for GE Vernova

Rivian stock dropped about 6% on Thursday after CFO Claire McDonough announced she would step down to join GE Vernova during the automaker's affordable-EV

Tesla Raises Cybertruck Prices by $5,000 as Sales Slump in U.S.

Tesla increased prices on two Cybertruck trims by $5,000 each in the U.S. as the electric pickup struggles with slowing sales.

Trump Hikes Canada Auto Tariffs to 50%, Effective January 2027

President Trump said the US will raise tariffs on Canadian cars, trucks and auto parts to 50%, effective January 1, 2027, escalating the trade dispute.

Tesla Recalls 3 Million Vehicles in China Over Door Handles

Tesla will voluntarily recall about 3 million vehicles in China over door handle safety and driver monitoring flaws, the country's largest auto recall.

Einride Adds 500 Tesla Semi Trucks to Expand North American Fleet

Einride will deploy 500 Tesla Semi electric trucks across North America, one of the largest commitments to the vehicle as it forecasts faster growth.

Ferrari’s First Electric Car, the Luce, Sells for Record $40 Million

Ferrari's first fully electric car, the polarizing Luce, has sold for $40 million at auction, far exceeding its original $640,000 list price.

Toyota Doubles Quarterly Profit to $9.4 Billion on Weak Yen, US Demand

Toyota nearly doubled fiscal first-quarter profit to $9.4 billion on a weak yen and strong US and India demand, while lifting its full-year sales forecast.

Ford Shifts Lincoln Production From China to U.S. by 2030

Ford will shift production of its Lincoln luxury vehicles from China to the United States beginning in 2030, signaling a major manufacturing realignment.

Volvo Cars Sales Slip 4% Over Three Months as China Demand Weakens

Volvo Cars reported a 4% sales decline over the three months through July, weighed down by weakening demand in China amid intensifying competition.

Ford Unveils Fathom Electric Pickup Starting at $28,000 on New EV Platform

Ford has unveiled the Fathom electric pickup starting at about $28,000, the first vehicle built on its new Universal Electric Vehicle platform.

Lucid Misses Second-Quarter Targets, Delays Affordable EVs to 2027 Amid Operational Reset

Lucid Group missed second-quarter expectations and pushed its affordable EV launch to late 2027 amid an operational reset targeting $1.4 billion in savings

Ford Raises Annual Guidance After Strong Quarter, Citing Robust Pricing and Resilient Demand

Ford lifted its full-year guidance after a second-quarter earnings beat, citing strong pricing and resilient demand. Shares rose about 4% on the news.

BMW to Cut Several Thousand Jobs in Germany Amid Rising Pressure from Chinese Rivals

BMW will cut as many as 8,000 jobs in Germany by 2027 under a voluntary redundancy programme, as pressure from Chinese EV rivals reshapes the auto sector.

Mercedes-Benz Cuts 2026 Sales Forecast as China Competition Reshapes Market

Mercedes-Benz lowered its 2026 sales forecast as CEO Ola Kallenius called intense China competition "a new reality" reshaping the world's largest car marke

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