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Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with voters across the 27 member states heading to the polls from Thursday until Sunday. Trump has previously remarked that he would not protect NATO countries from Russian attacks if they lag on their membership payments. Green pledgesIn the wake of the 2019 EU elections, the bloc claimed it was the global champion on a climate-friendly agenda. "This could include more support for nuclear power or even support fracking for cheaper and more reliable gas," they added. "An even larger Eurosceptic representation is also likely to weigh against bold reforms which could make enlargement difficult," the analysts said.
Persons: Hadja, Laurie Dieffembacq, Joe Biden, Donald Trump, Biden, Trump, Green, Giorgia, There's Organizations: Belgian, Afp, Getty, European, CNBC, U.S . European Union, U.S, EU, NATO, European Commission, Citi, Bloomberg, European Union Locations: European Union, Europe, U.S, Ukraine, China, Brussels, Beijing, Italy, Rome, Kyiv
Also, some used EVs are eligible for up to $4,000 in federal tax credits , and several states offer tax credits or rebates. Although as with buying any used car — from manufacturers and independent dealers, online marketplaces or private owners — there are pros and cons. The Hertz Car Sales website "Shop EVs" button recently listed 1,475 of the 1,638 used EVs listed as "Hertz Certified." A March study by automotive research firm iSeeCars found that the average used car price was down 3.6% from last year, though used EV prices had plummeted 31.8%, equating to $14,418 in value. A follow-up question — "Can you tell me about 2022 Tesla Model 3s being sold by Hertz Car Sales?"
Persons: Hertz, , iSeeCars, Elon, Karl Brauer, Brauer, Yossi Levi, Guy, Tesla, Carvana, Edmunds, ChatGPT, Hertz's, Matt Quinn, CarGurus, Eugene Park Organizations: Hertz, EV, Hertz Global Holdings, U.S, Bolts, Car, Hertz Tesla, Tesla, ChatGPT, Hertz Car Locations: U.S, Massachusetts, Colorado, Edmunds, CarGurus
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Ford, Jim, Eli Lilly, Anat Ashkenazi, Ashkenazi, shakeup, isn't, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Nvidia, Apple, Microsoft
Buying an EV may be more difficult in some states than others. Dealers in some rural states have limited supplies of electric cars, data from CarGurus has shown. The data included EVs in dealerships, but not those sold directly to customers, like Teslas. AdvertisementBuying an EV is more difficult in some states than others, new data has suggested. Data from car-listing platform CarGurus shows that over one-third of new electric vehicles are going to California, Texas, and Florida.
Persons: Organizations: Dealers, Service Locations: CarGurus, California , Texas, Florida
CNN —Sales of new electric vehicles have started to slow, but the opposite is happening with used EVs. The used car sales website Carvana saw its used EV sales more than double since last year. While increases in used EV sales are huge, they still make up a small portion of overall used vehicle sales. Used EVs still cost more, on average, than used gas-powered vehicles, but they cost a lot less than new EVs. While prices for new EVs average around $63,000, prices for used ones average around $36,000, according to Cars.com.
Persons: EVs, Carvana, wasn’t, Price, Cars.com, Truecar, , who’ve, , Matt Jones, ” Manheim, “ We’ve, it’s, Grace Huang, we’ve, Tesla, Jones, Rebecca Lindland, Courtney Vaughn, “ I’m, Lindland Organizations: CNN —, EV, TrueCar, Cox Automotive, Cox, Cars.com, Chevrolet, Hyundai, Hyundai Kona EV, US Department of Locations: Georgia, New York, California,
The future of the electric vehicle is a critical issue for the U.S. auto industry and its home base of Detroit, Michigan. "We've seen politics bleed into this space," Whitmer said at the CNBC CEO Council Summit in Washington, D.C., on Tuesday. "I don't think [listening] changes your values, but you always have to be able to learn and to understand what's going on," Whitmer said. "We're going to meet our energy goals and our climate goals and nuclear is an important part of the equation. Do the next right thing, on behalf of your employees, on behalf of your employees, on behalf of your community."
Persons: It's, Gretchen Whitmer, Biden, Donald Trump's, Whitmer, EVs, we've, We've, Carl Quintanilla, I'm, it's Organizations: U.S, Michigan Gov, CNBC, Summit, Washington , D.C, EV, Republican, Democratic Locations: Detroit , Michigan, Washington ,, Michigan
Ford EV and hybrid sales surge 65% in May
  + stars: | 2024-06-04 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
DETROIT – Ford Motor's U.S. new vehicle sales rose 11.2% last month compared with May of last year, boosted by strong sales growth for all-electric and hybrid models. The Detroit automaker on Tuesday reported roughly 65% increases in sales of both hybrid and all-electric vehicles. The boost to EV sales is a conundrum for investors. The spike in hybrid sales is part of Ford's plan to double down on the technology. Ford reported total year-to-date U.S. sales through May of 877,685 units, up 5.6% compared with the same time period in 2023.
Persons: DETROIT –, Ford Organizations: New York, DETROIT, DETROIT – Ford Motor's U.S, Detroit, EV, Ford
Ford had another month of strong sales, but a wider appeal on Wall Street for the stock depends on cutting the automaker's massive EV division losses. In the first quarter, Ford lost more than $100,000 per EV sold. He also lamented the underperformance of Ford stock relative to rival General Motors — ever since GM announced a buyback in November. However, Jim thinks Ford stock has come down enough. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Ford, EVs, Jim Cramer, General Motors —, Jim, Jim Cramer's, Danielle DeVries Organizations: EV, Bloomberg, Ford, General, GM, Club, CNBC, New York
A Jeep Wrangler plug-in hybrid electric vehicle (PHEV) during the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 5, 2023. NEW YORK – Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs. The Stellantis brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or PHEVs, in the U.S. this year, an increase of 40% to 50% from last year, Jeep CEO Antonio Filosa told CNBC. "One of the pillars of growth for the market is going to be freedom of choice." PHEV sales at the level Jeep is expecting this year would top Stellantis' total 2023 U.S. sales of the vehicles, at roughly 143,000 units.
Persons: Antonio Filosa, Filosa Organizations: New York, Auto, CNBC, Jeep Locations: New York, U.S
Investors may not have sufficiently accounted for the impact of stretched consumer finances on the discretionary sector. We'll review the dichotomy going on in the consumer discretionary sector and give a bearish trade on an outperforming stock once thought to be immune from some of the pressures. To some extent, the haves and have-nots divide explains the difference between the consumer discretionary stocks that have outperformed versus underperformed this year. Horton, YTD However, two industry groups within the consumer discretionary sector have not followed this pattern to the same degree. The trade: Chipotle The best-performing restaurant in the consumer discretionary sector so far this year is Chipotle Mexican Grill Inc. (CMG) up a market-crushing 36.8%.
Persons: Roland Garros, Ralph Lauren, Hermes, Versace, Prada, Calvin Klein, Tommy Hilfiger, Van Heusen, Horton, TOL, D.R, Tesla, Darden, YTD, Chipotle Organizations: Monaco, PVH Corp, IZOD, Carnival Corp, CCL, GM, Grill Inc, Darden, Starbucks Locations: Royal Caribbean, Horton
Read previewChevy's electric aspirations are about to meet their toughest test yet with the launch of the Silverado EV and the Equinox EV. All of this adds up to the security that today's EV shopper is looking for, Majoros told me in an interview. The RST First Edition Silverado EV, which is on sale now, goes for $94,500. Equinox EV is a step in the right direction, but can it beat a hybrid? That could be bad news for Chevy dealers and Equinox EV, which might lose out in a comparison with Ford's or Toyota's hybrids.
Persons: , Steve, Majoros, you've, it's, Ford's, Elon Organizations: Service, Silverado EV, GM, Business, Chevrolet, Motors, Silverado, Equinox Locations: Detroit
Earlier this month, the Biden administration imposed major new tariffs on Chinese EVs, advanced batteries and other goods. The European Commission is set to announce early next month its own decision on Chinese EV tariffs, which could spell trouble for Chinese EV makers that export hundreds of thousands of cars to Europe every year. In January, Toyota (TM) said it would launch vehicles with solid-state batteries in a few years, according to Reuters. Samsung SDI said in March that it would begin mass producing solid-state batteries in 2027. GAC Group, a state-owned automaker based in Guangzhou, said in November that it had achieved a breakthrough in solid-state batteries and would roll out vehicles with them in 2026.
Persons: Biden Organizations: Hong Kong CNN, China Daily, West, European, EV, Global, Toyota, Reuters, Samsung SDI, Volkswagen, GAC Locations: China, Hong Kong, Europe, Beijing, Guangzhou
The Equinox EV is a solid addition to the electric crossover market. The Equinox EV is priced and designed to compete directly with Tesla's mass-market cars. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's another electric Chevrolet crossover on the market as the bowtie brand leans into EVs while others are pulling back. Two trims of the Equinox EV are available on dealer lots today, with a starting price of $43,295.
Persons: Organizations: Service, Metro Detroit, GM, Business
Jeep reveals its first EV for America
  + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN —Jeep, widely known for making rugged off-road vehicles, has unveiled its first fully electric SUV for the North American market. The Wagoneer S will test the appetite of Jeep customers for a fully electric model. It comes at a time of waning interest in electric vehicles, even as regulatory requirements for them become more stringent. The new Wagoneer S has a sleeker, more aerodynamic shape than the Jeep Wagoneer models sold today. Jeep is working on putting the Wagoneer S Trailhawk into production, Filosa said in an interview with CNN.
Persons: Antonio Filosa, that’s, Stellantis, Peter Valdes, Filosa, , Gilles, Organizations: CNN, Jeep, North Locations: Europe, Canada, .
2024 Jeep Wagoneer S EV JeepNEW YORK – The first all-electric Jeep SUV for the U.S. will be the Wagoneer S, starting at about $72,000 when it's scheduled to go on sale this fall. The $71,995 starting price of the Wagoneer S EV sits between gas-powered versions of the Wagoneer, starting at about $63,000, and more luxurious Grand Wagoneer, starting at roughly $92,000. 2024 Jeep Wagoneer S EV JeepHe also said the company will release electric, extended-range versions of the traditional gas-powered Wagoneer and Grand Wagoneer in 2025. 2024 Jeep Wagoneer S EV "R-Wing" JeepDespite sharing the "Wagoneer" name with Jeep's current gas-powered model, the five-passenger, two-row EV shares little with its three-row traditional internal combustion engine counterpart other than some Jeep styling. Stellantis design chief Ralph Gilles during the unveiling of the Jeep Wagoneer S EV on May 30, 2024 in New York City.
Persons: Antonio Filosa, Filosa, Michael Wayland, Jeep, Carlos Tavares, Tavares, " Tavares, Massimo Pinca, Wagoneer, Ralph Gilles, Stellantis, Gilles Organizations: EV, CNBC, Reuters, Cherokee, CNBC Stellantis, U.S, Jeep Locations: U.S, North America, Turin, Italy, PHEVs, Europe, Mexico, New York City
New York CNN —The most important carmaker in the world right now is the Chinese-owned, Warren Buffett-backed company that has Elon Musk in a pickle. That’s 1,300 miles in one go — hundreds of miles beyond the standard ranges for other hybrids on the market. One: Tesla is America’s best-selling EV, but it’s losing market share overseas to foreign competitors that can make their cars cheaper. China is the world’s biggest auto market, and BYD is its top seller, surpassing Volkswagen last year. In that exchange, Musk responds to an honest question about BYD rivaling Tesla with a smug laugh.
Persons: CNN Business ’, Warren Buffett, Tesla, Musk, BYD Organizations: CNN Business, New York CNN, Elon, Toyota, Wall Street, Volkswagen, Toyota Prius, Bloomberg Locations: New York, Miami, BYD’s Hong Kong, China, United States
Cadillac's new entry-level Optiq EV to start at $54,000
  + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
DETROIT – General Motors' new entry-level 2025 Cadillac Optiq electric vehicle will start at $54,000, the company said Wednesday. The compact-sized crossover is set to be Cadillac's fourth electric vehicle when it goes on sale later this year. It follows the $59,000 Lyriq midsize crossover, the $300,000-plus bespoke Celestiq sedan and the upcoming $130,000 Escalade IQ SUV. The Optiq will be sold in 10 regions, including North America, China and Europe, where it debuted Wednesday at a new Cadillac showroom in Paris. It comes as automakers attempt to expand the appeal of EVs with less-expensive models following slower-than-expected sales for the emerging vehicles.
Persons: Cadillac, John Roth Organizations: DETROIT, Motors, EV, Cadillac Locations: North America, China, Europe, Paris
Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. "very soon" to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. "In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon," he said Wednesday during a Bernstein investor conference. Stellantis currently offers an all-electric version of its Avenger SUV in Europe, starting at about 35,000 euros, or about $37,800, according to its website. Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. "If you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the U.S.," Tavares said.
Persons: Carlos Tavares, Tavares, Stellantis, Tesla, BEV, " Tavares Organizations: Citroen Locations: U.S, Europe, China
But despite the vast improvements in battery technology, EV charging still can't hold a candle to the 5-minute stop to fill a gas tank. Related storiesCar companies hoped the public charging infrastructure would improve along with them as they built more range into their vehicles. AdvertisementWhat no one can seem to agree on is who is responsible for building out public charging infrastructure. All these industry efforts have helped to feed an EV charging infrastructure boom in recent years. The Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030.
Persons: , Biden Organizations: Service, Business, EV, GM, Pew Research, Department of Energy, Biden Administration, University of Michigan Transportation Research Institute
BYD says its new hybrid powertrain system lets cars go 1,250 miles without refueling or charging. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the Chinese EV maker BYD says it can happen thanks to upgrades in its new hybrid powertrain system, which is set to launch on two recently revealed midsize sedans, Bloomberg reported. It's the equivalent of about 81 miles per gallon, more than three times the US fuel-economy average for model-year-2022 cars. It's also about 500 more miles of range than a hybrid 2023 Lexus ES gets, which last year topped Kelley Blue Book's list of longest-range hybrids.
Persons: BYD, That's, Organizations: Service, Bloomberg, Kelley, Business
Oil prices little changed as markets look to OPEC+ meeting
  + stars: | 2024-05-27 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices were in a holding pattern in early Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year. Oil prices were in a holding pattern in early Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year. Combined with another 3.66 million bpd of production cuts valid through the end of the year, the output cuts are equivalent to nearly 6% of global oil demand. Markets will also be watching the U.S. personal consumption expenditures index this week for more signals about interest rate policy. The prospect of higher-for-longer interest rates has strengthened the U.S. dollar, making oil more expensive for holders of other currencies.
Persons: Brent, U.S . Federal Reserve's, WTI Organizations: . West Texas, Organization of, Petroleum, OPEC, International Energy Agency, ANZ, Northern, U.S, U.S . Federal, Federal Reserve, U.S . Locations: OPEC, U.S, U.S .
CNN —Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The new car market is finally a buyer’s market again. The Volkswagen ID.4 and Kia Niro EV, for instance, are selling at average discounts of more than 13%, according to Edmunds.com. Vehicles from the outgoing 2023 model year now account for 6.8% of all new vehicles on dealers’ lots, according to Edmunds.com. Dealers for Stellantis brands – Dodge, Chrysler, Jeep and Ram – are offering the biggest discounts, according to Edmunds.com.
Persons: Covid, Cox, , Eric Barbosa, we’ve, , Barbosa, , Ram –, Edmunds, Ivan Drury, Brian Finkelmeyer, Brian Moody, Kelley Organizations: CNN, Toyota, Ford, Ford Bronco, Cox Automotive, GMC, Volkswagen, Kia Niro, Cavender Auto Group, Vehicles, Dealers, – Dodge, Chrysler, Jeep, Dodge, Lincoln Nautilus, Consumers, Honda, Kia, Autotrader Locations: San Antonio , Texas, Edmunds
The factory, which was announced in April last year, aims to begin production in the first quarter of 2025. The battery facility will be close to Tesla’s Shanghai Gigafactory, which is the company’s largest plant outside the United States, producing almost one million cars a year. Rising tensionsWhile most Western companies are face rising barriers to doing business in China, things have been smoother for Tesla. “Tesla competes quite well in the market in China with no tariffs and no deferential support. I’m in favor of no tariffs,” Musk said.
Persons: Hong Kong CNN — Tesla, Elon Musk, Tom Zhu, Tesla, Wu Xiaohua, ” Musk, Li Qiang, Li, Joe Biden, Musk, “ Tesla Organizations: Hong Kong CNN, Lingang Group, Tesla, Reuters, Locations: Hong Kong, Shanghai, China, United States, Beijing, Washington, Tesla’s Gigafactory, Europe, Paris
DETROIT – General Motors CEO and Chair Mary Barra on Thursday said she has no plans to retire any time soon as she tries to ensure the company's transformation is on "a good path." Barra, who is the longest tenured CEO outside of the company's founder, has been asked about retirement for several years. "I'm having a lot of fun, and I want to make sure we have our transformation on a good path," she said during a fireside chat at a Detroit Economic Club meeting. Barra reiterated she serves at the pleasure of the GM board and that she continues to have "fun." Cruise and EVs, along with software-defined vehicles and services, have been among the largest potential growth areas under Barra, who became CEO in January 2014.
Persons: Mary Barra, Barra, I've, Cruise Organizations: Economic, Washington, DETROIT – General, GM, Detroit Locations: Washington , U.S, DETROIT, San Francisco, Barra
Read previewAfter a long wait, the Chevrolet Silverado EV has officially entered the electric truck wars. On this first drive with the truck, two things struck me immediately: its size and handling. Ultimately, I came away with the impression that the Silverado EV is built for people who love trucks — because of course it is. Trucks have always been Detroit's crown jewel, but big trucks and SUVs are going out of style in the EV segment. AdvertisementIn the end, the Silverado EV was fun to drive and handled well, but it's just too beefy for my taste.
Persons: , let's, you'll, Tesla, it's Organizations: Service, Chevrolet Silverado EV, Business, EPA, Detroit, Silverado
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