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Lucid Motors has been working through some quality “hiccups” in the early stages of delivering its long-awaited electric SUV, according to interim CEO Marc Winterhoff. “It is true that we had some technical issues that we had to overcome around software” and the Gravity’s heads-up display, Winterhoff said on a conference call Tuesday. “There have … Read more
Good morning. Earnings season is taking some twists and turns. General Motors’ Q1 earnings call was scheduled to take place on Tuesday, but the auto giant announced it would be postponed until Thursday, “based on recent reports regarding updates to trade policy.” The White House announced Tuesday afternoon an executive order that provides some … Read more
Auto giant General Motors (NYSE: GM) on Tuesday announced financial results for the first quarter of 2025, reporting an increase in revenue and profit. The results also topped expectations. First-quarter revenue increased 2% year-over-year to $44.02 billion, exceeding estimates. Net income, on an adjusted basis, rose 6% annually to $2.78 per share in the March … Read more
EV startup Lucid Motors has emerged as a surprise winner in the bankruptcy auction for electric trucking company Nikola’s Arizona factory and other assets, according a late Thursday night court filing. Lucid committed around $30 million in cash and non-cash considerations in exchange for the factory, Nikola’s lease on its Phoenix headquarters, and “certain machinery, … Read more
General Motors’ (NYSE: GM) stock tumbled last week after the Trump administration imposed new tariffs on automobile imports, raising concerns about their potential impact on the company’s production as it heavily relies on Canada and Mexico. Of late, the auto giant has been regularly investing in portfolio expansion, with new models lined up for launch, … Read more
Bank of America downgraded the stock and slashed its price target by two-thirds after learning that Peter Rawlinson stepped down as CEO and CTO. Read More
Lucid Motors is changing CEOs for the first time in nearly six years. The company announced Tuesday that Peter Rawlinson is stepping down from the CEO and CTO roles that he’s held since before the company went public. Lucid appointed its chief operating officer Marc Winterhoff as its interim CEO. Rawlinson will serve as “strategic … Read more
In a world where almost everything can be bought online, automobiles remain an exception. Read More
Scout Motors’ plan to eschew traditional dealerships and sell EVs directly to consumers is running into legal trouble. A group of Volkswagen and Audi dealers filed a lawsuit this week against Scout Motors, the EV that spun out of Volkswagen. The lawsuit, which was first reported by Automotive News, seeks to block Scout’s direct-to-consumer sales … Read more
General Motors (NYSE: GM) reported its fourth quarter 2024 earnings results today. Revenue increased 11% year-over-year to $47.7 billion. Net loss attributable to stockholders was $2.96 billion, or $1.64 per share, compared to net income of $2.10 billion, or $1.59 per share, last year. Adjusted earnings rose 55% to $1.92 per share. For fiscal year … Read more
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