Nebraska’s EV conundrum: Charging options can get you places, but future will require growth

Don Cox, one of the first Nebraskans to own an electric vehicle, has put more than 400,000 miles on his EVs since 2008. In that time, he’s never once gotten stranded – though in the early days, he did have to plug into outlets at RV parks to get his Tesla Roadster across the state. ...

Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays

DETROIT (AP) — Investors are punishing automakers' stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices, just as the companies are having to spend huge sums to make new electric and gas vehicles. Each auto company has...

China cuts 1-year benchmark rate and doubles subsidies for EVs in its 'cash for clunkers' program

BANGKOK (AP) — China ratcheted up its effort to reinvigorate its slowing economy Thursday by unexpectedly cutting a key policy rate and also doubling subsidies for electric vehicles bought to replace older cars. The People’s Bank of China said it cut its lending rate for...

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes

TOKYO (AP) — Nissan lowered its full fiscal year outlook on Thursday, as the Japanese automaker reported a 73% decline in profit in the April-June quarter compared to the previous year. Chief Executive Makoto Uchida called the results “very challenging,” blaming sales...

Stubborn warranty costs push down Ford's 2Q net profits, causing stock plunge in after-hours trading

DETROIT (AP) — In October of 2020, Ford's then-new CEO Jim Farley said the company was working to cut warranty costs after glitch-prone small-car transmissions hit the automaker's bottom line. Nearly four years later, warranty costs are still vexing the nation's second-largest...

Lamb Weston, Tesla fall; Tenet Healthcare, Mattel rise; Wednesday, 7/24/2024

Stocks that traded heavily or had substantial price changes on Wednesday: Tesla Inc. (TSLA), down $30.39 to $215.99 The electric vehicle maker said its profit for the spring fell 45% from a year earlier. Alphabet Inc. (GOOGL), down $9.16 to $172.63 ...

Tesla's 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans

DETROIT (AP) — Tesla's second-quarter net income fell 45% compared with a year ago as the company's global electric vehicle sales tumbled despite price cuts and low-interest financing. The Austin, Texas, company said Tuesday that it made $1.48 billion from April through June, less...

Tesla's second-quarter net income tumbled 45% as the company's global electric vehicle sales fell despite price cuts

A very strong quarter at General Motors is overshadowed by potential headwinds for industry

DETROIT (AP) — U.S. customers who bought a new General Motors vehicle last quarter paid an average of just under $49,900, a price that helped push the company's net income 15% above a year ago. And GM Chief Financial Officer Paul Jacobson said he doesn’t see his company cutting...

China's Baosteel to buy out Nippon Steel's 50% stake in auto steel venture

BANGKOK (AP) — China’s Baosteel said Tuesday that it will acquire Nippon Steel’s 50% stake in their auto steel joint venture for about $242 million. The contract for the joint venture, Baosteel Nippon Steel Automotive Steel Sheets, was due to expire on July 30. ...