Corporate/Finance: Page 11


  • A hurge red pickup truck center staged, another huge pickup truck stage right, and people in the audience.
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    Courtesy of Stellantis

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    Cummins reaches $1.7B settlement with EPA, California for emissions violations

    The Justice Department accused the engine maker of installing parts that exceeded emissions standards in 630,000 Dodge Ram pickup trucks.

    By Sara Samora • Jan. 4, 2024
  • A pickup truck parked in front of a Chevrolet dealership in Houston, Texas.
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    Brandon Bell via Getty Images
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    GM, Hyundai and other top automakers report record US sales in 2023

    Higher deliveries, supply chain improvements and stronger dealer incentives fueled the jump in new vehicle sales.

    By Jan. 4, 2024
  • A Mercedes-Benz GenH2 Daimler Truck with a white cab and black trailer drives on a sunny road.
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    Courtesy of Daimler Truck
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    Amazon to trial Mercedes-Benz hydrogen fuel-cell trucks in 2024

    Daimler Truck aims to make its carbon neutral vehicles available in core markets, including the U.S., Europe and Japan, by 2039.

    By Iulia Gheorghiu • Jan. 3, 2024
  • A Ford F-150 Lightning electric pickup on the road.
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    Courtesy of Ford Motor Co.
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    Over 20 EVs will lose tax credit eligibility in 2024

    Fewer eligible vehicles could make it harder for automakers to sell EVs by making them less affordable.

    By Jan. 2, 2024
  • Vehicles for sale at an AutoNation car dealership.
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    Mario Tama/Staff/Getty Images News via Getty Images
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    US new vehicle sales up 12.8% in 2023: J.D. Power

    Despite declining transaction prices, dealers’ “profits continue to exceed pre-pandemic levels,” Thomas King, president of the data and analytics division at J.D. Power, said.

    By Dec. 22, 2023
  • A drone view of a train passing alongside Puerto de Anapra town at the border between USA and Mexico.
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    THEPALMER via Getty Images
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    Deep Dive

    Mexico’s nearshoring wave is years in the making

    Whether through foreign direct investments or internationally purchased goods, the automotive sector has an outsized share of Mexico's trade.

    By Alejandra Carranza , Dec. 21, 2023
  • A Buick Wildcat EV concept.
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    Courtesy of General Motors
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    GM buys out around half of its Buick dealers

    Dealers accepting the buyouts declined to invest hundreds of thousands of dollars to sell and service General Motors’ future electric vehicles.

    By Dec. 21, 2023
  • Hyundai vehicles displayed for sale at a new car dealership.
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    Justin Sullivan/Staff/Getty Images North America via Getty Images
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    Hyundai creates CX division, combining retail and after-sales

    Michel Poirier will lead the division, which was created in an effort to streamline the automaker’s CX efforts.

    By Kristen Doerer • Dec. 20, 2023
  • The Tesla gigafactory in Nevada.
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    Courtesy of Tesla
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    Tesla to raise wages 10% at Nevada gigafactory: CNBC

    The automaker will increase wages from $20 to $22 per hour for employees at the bottom of the payscale, while high-wage workers will go from $30.65 to $34.50.

    By Dec. 20, 2023
  • Volkswagen Group's assembly plant in Chattanooga, Tenneesee.
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    Courtesy of Volkswagen Group
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    Volkswagen denies union-busting claims as UAW files another unfair labor complaint

    The union said the automaker’s social media, dress code and flier policies are “unlawful” and “have a chilling effect on workers’ rights” to publicly discuss labor conditions and organize.

    By Dec. 19, 2023
  • Person holding up EV charger to car
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    coldsnowstorm via Getty Images
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    BWH Hotels to bring Tesla EV charging stations to North American properties

    The partnership is the latest between a hotel company and EV charging provider as hotels increasingly seek to cater to eco-conscious guests.

    By Noelle Mateer • Dec. 18, 2023
  • The General Motors logo.
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    Mario Tama/Staff/Getty Images News via Getty Images
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    GM shakes up product development team amid EV, Cruise troubles

    The news comes as General Motors struggles to launch new EVs, and its self-driving unit Cruise faces an uncertain future.

    By Dec. 18, 2023
  • Cathy O'Callaghan
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    Retrieved from Ford Motor Co. on December 16, 2023
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    Ford Credit CEO to retire as company names replacement

    The division’s incoming CEO, Cathy O’Callaghan, is currently chief accounting officer but will take the helm Feb. 12.

    By Dec. 18, 2023
  • Chevy Bolt EV operated by Cruise on the street in San Francisco.
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    Courtesy of Cruise LLC
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    GM’s Cruise unit lays off 24% of its workforce a day after executive dismissals

    About 900 employees are impacted by the job cuts, which come as the company slows down commercialization of its autonomous products to focus on improving its technology.

    By Dec. 15, 2023
  • Solar panels and wind turbines in the desert producing renewable energy.
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    narvikk via Getty Images
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    Treasury releases guidance on IRA clean energy tax credits

    Battery manufacturers can receive a tax credit on a percentage of their production costs until 2033.

    By Joelle Anselmo • Dec. 15, 2023
  • The Lucid Gravity.
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    Courtesy of Lucid Group
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    Lucid CFO resigns in latest leadership shakeup

    The news comes weeks after the company unveiled its Gravity SUV and days after the automaker was removed from the Nasdaq-100 Index.

    By Dec. 14, 2023
  • A Chevy Bolt EV operated by Cruise on the road in San Francisco.
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    Courtesy of Cruise LLC
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    GM’s Cruise unit dismisses 9 top executives amid safety probes

    COO Gil West was among the executives let go from the automaker's robotaxi division.

    By Dec. 14, 2023
  • An AutoNation Chevrolet car dealership.
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    Mario Tama/Staff/Getty Images News via Getty Images
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    FTC finalizes rule to fight dealer bait-and-switch tactics, junk fees

    The Combating Auto Retail Scams rule bans dealers from misrepresenting key information like price or charging consumers for add-ons that do not provide them with a benefit.

    By Dec. 14, 2023
  • A worker dismantles an electric vehicle battery for recycling.
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    Courtesy of Toyota Motor Corp
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    Toyota to expand its US EV battery recycling network

    The automaker will partner with Cirba Solutions to recover up to 95% of the critical raw minerals used to produce electric vehicle batteries.

    By Dec. 13, 2023
  • A Honda associate does a quality check on a 2023 Honda CR-V.
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    Courtesy of American Honda Motor Co., Inc.
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    Autoworkers accuse Honda, VW and Hyundai of retaliating against unionization efforts

    The workers said they are filing unfair labor complaints against the three companies as they try to rally support to join the United Auto Workers union.

    By Dec. 12, 2023
  • Elon Musk interviewed at NYT Summitt
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    Michael M. Santiago via Getty Images
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    Tesla CFO sells shares as Musk draws new scrutiny

    A spotlight is on the EV maker as investors weigh recent controversial comments from CEO Elon Musk and a lukewarm launch of its Cybertruck product.

    By Grace Noto • Dec. 8, 2023
  • Toyota vehicles displayed at a Toyota dealership.
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    Justin Sullivan via Getty Images
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    Toyota’s carbon footprint rises despite emissions-curbing initiatives

    The car manufacturer’s scope 1 and scope 2 emissions saw an increase over last year’s levels, even as the company aims to be carbon neutral by 2035 across its North America operations.

    By Zoya Mirza • Dec. 8, 2023
  • Continental CEO Nikolai Setzer speaks at the company's Capital Market Day 2023.
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    Courtesy of Continental AG
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    Continental to spin off user experience unit

    The plans are part of the auto supplier’s strategy to reduce costs of its automotive business by 400 million euros a year starting in 2025.

    By Dec. 5, 2023
  • 2023 Ford F-Series Super Duty pickups on the assembly line at Ford's Kentucky Truck Plant.
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    Courtesy of Ford Motor Co.
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    Ford says new UAW contract will cost $8.8B

    The automaker estimates its new labor contract with the United Auto Workers union will cost around $900 per vehicle by 2028.

    By Dec. 1, 2023
  • Chevrolet Traverse SUVs on the assembly line at GM's Lansing Delta Township assembly plant.
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    Courtesy of General Motors
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    GM says UAW labor agreement will cost $9.3B through 2028

    GM said the stock buyback would help the company offset the cost of its UAW deal, which includes a 25% wage increase for hourly workers over the next four and a half years.

    By Nov. 29, 2023