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☆ UAW launches bid to organize Tesla and 'entire non-union auto sector'
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector after winning new contracts with the Detroit Three automakers. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. "I want this type of contract for all auto workers and I have a feeling the UAW has a plan for that," he said at an event with Fain. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers.

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Tesla, Elon Musk, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, Mississippi, Tennessee, Chattanooga , Tennessee, Georgetown , Kentucky, Washington

☆ UAW launches bid to organize Tesla and 'entire non-union auto sector' in US
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +6 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers. The website asks Tesla workers to join, saying CEO "Elon Musk is the richest man in the world, with a net worth of $230 billion. The question is, will Tesla workers get their fair share?"

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Elon Musk, Tesla, Harley Shaiken, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, New York Times, Honda, Subaru, Mazda, Volvo, University of California, White, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, America, Mississippi, Tennessee, Chattanooga , Tennessee, Berkeley, Georgetown , Kentucky, Washington

It's clear how that will end.”Germany’s constitutional court has voided some 60 billion euros ($65 billion) in spending for this year and next. Without yet another emergency declaration next year, the government would have to scramble to cover shortfalls of roughly 30 billion to 40 billion euros — plus 20 billion to 30 billion euros for 2025 — compared with earlier plans, according to Holger Schmieding, chief economist at Berenberg bank. The fallout has left Germany projected to be the worst-performing major economy this year, shrinking by 0.5%, according to the International Monetary Fund. That has led to calls from some to loosen the debt limits because they restrict the government's response to new challenges. Yet even some opposition state governors have said the debt limits should be loosened.

Persons: Chancellor Olaf Scholz, “ We've, Robert Habeck, “, ”, Holger Schmieding, Schmieding, Free Democrats doesn't, Kai Wegener Organizations: U.S, International Monetary Fund, Industry, Volkswagen, BMW, Mercedes, Benz, Seven, Social Democrats, Greens, Free Democrats, Christian Democrats, Berlin Locations: FRANKFURT, Germany, Ukraine, Russia, China, Berenberg, East Germany, Europe, Britain, U.S, Italy, Japan

☆ Lessons on loneliness from people living life on the road
▼ + stars: | 2023-11-27 | by ( Monica Humphries | ) www.businessinsider.com time to read: +15 min

Monica Humphries/InsiderPeople living life on the road know what it's like to be isolated. In a country facing a loneliness epidemic, there are lessons to learn from nomads like Schaffer living on the road. Van Life CampgroundsParinger realized he was missing a sense of community after a couple of years of living in a van. In 2019, he bought land in Joshua Tree, California, which became the first location for Van Life Campgrounds. Others living on the road agreed that their online community has been a huge support in tackling loneliness.

Persons: they've, —, Maddy Garrett's, Ford Transit —, Tracey Tischler, van, Monica Humphries, it's, Christian Schaffer, Schaffer, Joshua, Shahira, Navod McNeil, Instagram McNeil, couldn't, Aidan Paringer's, Paringer, Ellaboudy, Phyllis Grover, Grover, Casey Hogan, Instagram Casey Hogan, Zach Nelson, he's, It's, Aidan Paringer, Garrett, Maddy Garrett, @whoa_maddy_actually_, ProMaster, Fernald, Sierra Fernald, Brittany Newson, Instagram Newson, haven't, Tischler, Nelson, Newson, FaceTimes Organizations: Business, Service, Subaru, Ford Transit, Ford, van, Benz, Facebook, Fire, YouTube Locations: Colorado and Utah, Texas, New Mexico, Utah, Joshua Tree , California, Dallas, Van, Mexico , Oregon, Washington, Nevada, I'm, Fernald, Zion, Instagram, California

☆ NFL's Black Friday game is the latest warning sign for traditional TV
▼ + stars: | 2023-11-24 | by ( Drew Richardson | ) www.cnbc.com time to read: +5 min

And with the game streaming the day after Thanksgiving, Amazon could capture some of the holiday viewership, which broke records last year. ESPN's pivotESPN has long ruled sports programming on traditional TV. Yet even as the streaming trend picks up, sports programming is helping keep cable and traditional TV alive, for the moment. Earlier this year, data firm Nielsen reported that traditional TV made up less than half of overall TV usage in July. A FOX Sports TV camera operator during the week 5 NFL game between the Atlanta Falcons and the Carolina Panthers at Mercedes-Benz Stadium on October 11, 2020 in Atlanta, Georgia.

Persons: Jacob Kupferman, National Football League's, it's, Brian Rolapp, CNBC's Julia Boorstin, Garth Brooks, Nielsen, Tim Nollen, John Hodulik, Bob Iger, CNBC's Boorstin, Patrick, David J, Griffin Organizations: Miami Dolphins, New York Jets, National Football, Amazon's, NFL, Detroit Lions, Dallas Cowboys, Fox, CBS, NBC, YouTube, Warner Bros, ESPN, UBS, Disney, Fox Sports, FOX Sports, Atlanta Falcons, Carolina Panthers, Mercedes, Benz, Getty Locations: Atlanta , Georgia

'Wherever you go, there you are'For DeFelice, covering those living expenses became a grind. Corentin Soibinet for CNBC Make ItAs for living expenses, DeFelice still takes out $120 a week to cover her basic costs and finds ways to limbo under that number. 'I'm here to say you can turn things around'After her return to Austin, DeFelice had been coasting. The part-time work was enough to cover her living expenses, but she's recently bumped up her salary by going full-time. In the meantime, she'll continue to educate others about good money habits through her online course, Best Money Class Ever.

Persons: Carly DeFelice, —, DeFelice, Mercedes, Corentin Soibinet, didn't, they'll, Warren Buffett, hasn't, Soibinet, she's, She's, I've, she'll Organizations: CNBC, University of Texas, Benz, FIRE, Carolinas, West Coast, FinCon Entertainment, Mint Mobile Locations: Austin , Texas, Austin, Hawaii, Omaha , Nebraska, Charlotte, Raleigh, West, Texas, Pacific Northwest, New Orleans, East Austin

Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The surge in their borrowing from Chinese banks has catapulted the yuan past the euro into becoming the second-biggest currency used in global trade finance, providing a fillip to Beijing's ambitions to internationalize the yuan. "Panda bonds are steadily promoting the renminbi's function as a funding currency", the People's Bank of China (PBOC) said a report last month. German automaker Volkswagen Group (VOWG_p.DE) told Reuters it will use its inaugural 1.5 billion yuan panda bond proceeds only for its onshore China business. ($1 = 7.2421 Chinese yuan renminbi)Reporting by Samuel Shen and Rae Wee Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Yuan, Dado Ruvic, Fiona Lim, Lim, SWIFT, Mercedes, Yuan internationalisation, Mark Williams, It's, Maybank's Lim, Williams, Samuel Shen, Rae Wee, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, BMW, Crédit Agricole S.A, National Bank of Canada, People's Bank of China, Standard Chartered Bank, Bank of China's, Volkswagen Group, Reuters, Benz Group, Capital Economics, Thomson Locations: Rights SHANGHAI, SINGAPORE, China, Hong Kong, Asia, Russia, Argentina, Pakistan, Nigeria

☆ German economy, auto sector face risks from exposure to China, fund manager says
▼ + stars: | 2023-11-15 | by ( Christoph Steitz | ) www.reuters.com time to read: +2 min

[1/2] A view shows the flags of China and Germany at a booth of a German automaker at the Auto Shanghai show, in Shanghai, China, April 19, 2023. That poses a dilemma for the German government, which is actively trying to get companies to derisk from China, the world's second-largest economy. The fund manager said it was striking that German companies are also increasingly relocating research and development activities to China, while others did the opposite for security reasons. Union Investment holds stakes in virtually all German blue-chip companies, including German carmakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Mercedes-Benz (MBGn.DE) as well as BASF (BASFn.DE), which all have major ties and exposure to the Chinese economy. The exposure means that German carmakers are facing risks such as being squeezed out of the Chinese market as well as seeing increased Asian competition in Europe, the fund manager said.

Persons: Aly, Christoph Steitz, Paul Simao Organizations: Auto, REUTERS, Rights, Union Investment, Reuters, Investment, Volkswagen, BMW, Mercedes, Benz, BASF, Thomson Locations: China, Germany, Auto Shanghai, Shanghai, Japan, South Korea, United States, derisk, German, Europe, Berlin, Beijing

☆ Mercedes-Benz USA CEO on first dedicated EV charging hub: We are convinced the future is electric
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMercedes-Benz USA CEO on first dedicated EV charging hub: We are convinced the future is electricCNBC’s Phil LeBeau and Mercedes-Benz USA CEO Dimitris Psillakis joins 'Squawk Box' to discuss the company's first dedicated EV charging hub in North America, the future of electric vehicles, concerns over plateauing EV sales, and more.

Persons: Phil LeBeau, Dimitris Psillakis Organizations: Mercedes, Benz, EV Locations: North America

☆ A Ferrari Sold at Auction for $52 Million
▼ + stars: | 2023-11-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

A 1962 Ferrari 250 GTO just sold for $52 million, the second highest price a car has ever been auctioned for. Photo: Sotheby’sA cherry red, 1962 Ferrari 250 GTO known for its rarity and winning race history has become the second-most expensive vehicle ever sold at auction. RM Sotheby’s sold the car for $52 million on Monday, below its $60 million asking price, as the market for collectible cars falters slightly along with other collecting categories. The top-selling car is a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, a prototype that was auctioned for $142 million last year and one of two ever manufactured.

Persons: Sotheby’s Organizations: Benz

☆ A Ferrari Sold At Auction for $52 Million
▼ + stars: | 2023-11-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

Persons: Sotheby’s Organizations: Benz

[1/4] A wheel loader operator fills a truck with ore at the MP Materials rare earth mine in Mountain Pass, California, U.S. January 30, 2020. Market leader Tesla (TSLA.O) garnered headlines earlier this year saying it would cut rare earths from its next-generation EVs. China dominates the mining and processing of a group of 17 metals known as rare earths, though companies elsewhere are trying to loosen China's grip. 'WAITING IN THE WINGS'The average EV permanent magnet motor uses around 600 grams (1.32 lb) of heavy rare earth neodymium. Tesla's announcement on dropping rare earths "opened up buyers' eyes to the fact that you don't really need rare earths to make EV magnets," Niron CEO Jonathan Rowntree said.

Persons: Steve Marcus, Tesla, Otmar Scharrer, Scharrer, you've, Ben Chiswick, Uwe Deuke, Gerd Roesel, Jonathan Rowntree, Oki, James Edmondson, Edmondson, Mike Grant, Nick Carey, Christina Amann, Paul Lienert, Ernest Scheyder, Gilles Guillaume, Giulio Piovaccari, Ben Klayman, Sharon Singleton Organizations: REUTERS, Auto, LONDON, General Motors, Rover, Nissan, ZF, U.S, BMW, Renault, GM, EV, Warwick Acoustics, Thomson Locations: Pass , California, U.S, China, BERLIN, German, Detroit, Europe, London, Berlin, Houston, Paris, Milan

☆ Global EV sales stay strong, China hits record despite end of subsidies
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsNov 14 (Reuters) - Electric-vehicle sales are seeing continued strength globally with China reporting record monthly sales in October despite the end of subsidies, according to market research firm Rho Motion. EV sales in China, the world's largest auto market, increased 29% year-to-date in September. The global EV market showed 34% growth in the same period. "This (subsidies) is an important factor in the German market as nearly two-thirds of passenger car registrations are commercial," the market research firm said. EV sales in North America were up 78% so far this year.

Persons: Edgar Su, Tesla, Mercedes Benz, Arsheeya, Paul Lienert, Shounak Dasgupta Organizations: REUTERS, Rho Motion, EV, Rho, Volkswagen, Cox Automotive, Thomson Locations: Singapore, China, Germany, North America, American, Bengaluru, Detroit

☆ The automakers and suppliers pushing to cut rare earths from EVs
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +4 min

1 U.S. automaker says it is "exploring options to limit or potentially eliminate rare earth materials in EV motors." BORGWARNER (BWA.N)The U.S. supplier already has an EV motor in production that has reduced heavy rare earth content. ZF (ZFF.UL)German supplier ZF has developed an EESM EV motor that could be in production in two years. The German premium automaker says it aims to remove heavy rare earth content entirely. EuroGroup Laminations (EGLA.MI) Electric motor component maker EuroGroup Laminations is working on both rare earth free permanent magnet motors and motors with limited rare earth content for automaker customers.

Persons: Darrin Zammit Lupi, Tesla, Stellantis, Zoe, Mercedes, Nick Carey, Sharon Singleton Organizations: REUTERS, BMW, GENERAL MOTORS, Volvo, ROVER, Tata Motors, Renault, RENAULT Renault, NISSAN, Nissan, MERCEDES, BENZ, TOYOTA, Toyota, Volkswagen, U.S, KKR, Thomson Locations: Malta, China, U.S, Niron Magnetics, Niron

☆ Indonesia presidential front-runner Prabowo criticises EU on deforestation
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

Indonesia's defence minister and presidential candidate, Prabowo Subianto greets the supporters after registering himself for next year's presidential election, at the election commission headquarters in Jakarta, Indonesia, October 25, 2023. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsJAKARTA, Nov 13 (Reuters) - Indonesia's presidential front-runner Prabowo Subianto on Monday criticised the European Union over its ban on palm oil imports and said Europeans during colonial times were also guilty of deforestation. The EU in April passed a law which would ban imports of commodities linked to forest destruction, including palm oil of which Indonesia is the world's biggest producer. Prabowo, who is leading opinion polls ahead of a presidential election next February, said Indonesia maintains "good" relations with Europe "although we have problems sometimes with the European Union". The EU, Indonesia and neighbouring Malaysia, the world's second-largest palm oil producer, have formed a task force to discuss the law.

Persons: Prabowo Subianto, Willy Kurniawan, Prabowo, Mercedes Benz, Stanley Widianto, Susan Fenton Organizations: REUTERS, Rights, European Union, EU, European, Volkswagen, Centre, Strategic, International Studies, Union, Dutch East, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA, European, Europe, EU, Dutch, Dutch East Indies, Malaysia

[1/2] A Tesla electric vehicle is plugged to a charger in a parking lot in Teia, north of Barcelona, Spain, October 31, 2023. High interest rates and a subdued market are putting customers off, they warned, with Volkswagen's EV order intake half what it was last year. Reuters GraphicsFALLING BEHINDCritics have long warned that a lack of affordable EVs would eventually stall the steep sales growth boosted by early adopters and corporate fleets. A weaker performance in September, consumer sentiment surveys and bleak commentary from carmakers and dealers indicates that low growth era may have arrived. "We call it the valley of death, which we will be going through in 2024 to 2027: low residual values, high supply, and low demand," Nothard added.

Persons: Albert Gea, EVs, Thomas Niedermayer, Flavia Garcia, Tom Carvell, Martina, AutoTrader, Garcia, We'll, Critics, Felipe Munoz, Alistair Bedwell, Langston, Ben DuCharme, Philip Nothard, Nothard, Victoria Waldersee, Nick Carey, Giulio Piovaccari, Paul Lienert, Sumanta Sen, Alexander Smith Organizations: REUTERS, Tesla, Volkswagen, Mercedes, Benz, Reuters Graphics Dealers, Toyota, HK, Reuters Graphics, Ford, GM, United Auto Worker, JATO Dynamics, Langston, Cox Automotive, Thomson Locations: Barcelona, Spain, LONDON, Europe, Germany, Italy, Bavarian, Edinburgh, Scotland, Britain, BYD, Nio, U.S, Rome, Detroit

☆ This EV battery stock has potential double-digit gains ahead. UBS thinks it could even surge 100%
▼ + stars: | 2023-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Nomura has a price target of 315 yuan — for an upside of nearly 67% from Friday's close. Even after trimming their price target on the buy-rated stock, the analysts have a price target of 266 yuan — just over 40% upside from Friday's close. They have a price target of 284 yuan, or 50% upside from Friday's close. More products coming to market The company already has just over a third of the global EV battery market, with more products on the way, according to Counterpoint Research. Li Auto, which reported record deliveries in October that beat out Tesla , is launching its first purely battery-powered vehicle in December — with a new CATL battery called Qilin.

Persons: That's, Nomura, CATL, FactSet, Peter Richardson, Li Auto, Tesla, — CNBC's Michael Bloom Organizations: Amperex Technology, BMW, Tesla, Union, HSBC, Revenue, VW, Mercedes, Benz, EV, Jefferies, Research, Chery, UBS Locations: Shenzhen, Friday's, EU, Thuringia, Hungary, —, Jiangxi

With the meme-stock rally in the rearview mirror and interest rates surging, individual investors are rediscovering the philosophy made famous by Vanguard's founder, Jack Bogle. Fans call themselves "Bogleheads," and the strategy "lazy" investing. Dan Griffin, a self-proclaimed Boglehead based in Florida, said he watched the meme stock rally in amusement. The current market condition is proof that his "tortoise" investing approach is the right one to building long-term wealth, he said. "The meme stock phenomenon seemed so focused on being incredibly plugged into your portfolio and monitoring your investments — I see the Bogleheads' philosophy as being antithetical to all of that."

Persons: Jack Bogle, Dan Griffin, Boglehead, Griffin, Christine Benz, Morningstar Organizations: GameStop, CNBC Locations: Florida

☆ Money market funds are yielding north of 5%. Here's when it may pay to look elsewhere
▼ + stars: | 2023-11-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors can't get enough of money market funds these days due to their attractive yields, which are north of 5%. When money market funds work Those who need easy access to cash could benefit from the money market funds' liquidity, which is one of the asset's biggest advantages, Benz said. However, unlike bank savings accounts, money market funds are not insured by the Federal Deposit Insurance Corporation. While money market funds may be yielding more than longer-term Treasurys or investment-grade bonds right now, that isn't necessarily always going to be the case. "Why would someone invest in a 5-year Treasury note when a money market fund is yielding higher?

Persons: Christine Benz, hasn't, Charles Schwab, Hermes, Peter Crane, Benz, Barry Glassman, Glassman, laddering, —, Jesse Pound Organizations: Morningstar, Crane Data, Fidelity, Data, Vanguard, Wealth, Federal Deposit Insurance Corporation, Benz, CNBC

☆ From Travis Kelce to Serena Williams, how 4 top athletes spent their first big paychecks
▼ + stars: | 2023-11-04 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

Travis Kelce before a game against the Los Angeles Chargers on October 22, 2023 in Kansas City, Missouri. Travis Kelce has made more than $70 million throughout his career in the National Football League, but he still remembers how he spent his first paycheck. Kelce says he spent around $10,000 on the limited-edition sneaker, which are replicas of the futuristic shoes Michael J. "I spent way too much money in clubs, and I was avoiding the rent lady," he said. Following a five-year $46 million contract extension in 2016, Kelce signed another four-year extension in 2020, worth just over $57 million.

Persons: Travis Kelce, Marty McFlys, Kelce, Michael J, Fox, I've, Jason Kelce, Shaquille O'Neal, Mercedes Benz, O'Neal, Klay Thompson, Maverick Carter, Thompson, Carter, Serena Williams Organizations: Los Angeles Chargers, National Football League, Nike Air MAG, Nike, Philadelphia Eagles, Forbes, Basketball Association, Washington State University, Del Mar, Target Locations: Kansas City , Missouri, Del, U.S, Bahamas

☆ Ford buys EV charging startup in bid to help rescue its electric dreams
▼ + stars: | 2023-11-03 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Ford has bought an electric charging startup called AMP, TechCrunch reported. AdvertisementAdvertisementFord is buying an electric charging startup as it tries to reinvigorate its flagging EV push. The auto giant is purchasing Auto Motive Power (AMP), an electric charging startup that makes battery management software, as it seeks to overhaul its charging technology and reduce the cost of its electric vehicles. A Ford representative told TechCrunch that the deal aimed to accelerate its efforts to encourage EV adoption and improve its charging technology. Other car makers have taken a similarly cautious approach to electric vehicles in recent months, with several ditching ambitious targets amid slowing demand.

Persons: —, Ford, it's, Bill Ford, Harald Wilhelm, Elon, carmaker Organizations: Ford, TechCrunch, Service, Auto Motive, The New York Times, Benz, EV, GM, Subaru Locations: California, Kentucky

A worker cleans a BMW i7 xDrive60 elecric car while it is charging at a BMW dealership in Sandton, South Africa, October 27, 2023. "We have no interest in sinking prices to gain market share. In a statement, BMW made no mention of high interest rates or inflation weighing on growth, in contrast to competitors such as Mercedes-Benz (MBGn.DE) and Porsche (P911_p.DE). Fully electric sales hit 15.1% of total sales in the third quarter, outstripping BMW's end-year target of 15%. Models from the upper price segment, like the 7 Series, the updated BMW X7, and the BMW X5 and BMW X6 models, are also driving sales growth.

Persons: Siphiwe, Oliver Zipse, That's, Walter Mertl, Victoria Waldersee, Christina Amann, Elaine Hardcastle, Mark Potter Organizations: BMW, REUTERS, JV, LSEG, Mercedes, Benz, Porsche, BMW X5, Thomson Locations: Sandton, South Africa, BERLIN, China

☆ The UAW won big against Detroit automakers. Unionizing Tesla and Toyota will be tougher
▼ + stars: | 2023-11-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

But the UAW’s ambitious plans to organize Tesla and other non-union automakers face steep odds. To grow, the UAW will need to gain a foothold at non-union automakers, which produce more than half of the cars assembled in the United States. Historically, UAW talks with the Detroit automakers have been closely watched by non-union automakers and suppliers. Anti-union companiesThe UAW will have to overcome weak protections for labor organizing in the United States and automakers’ aggressive tactics to defeat unions. It may be easier for UAW to organize Volkswagen and other European automakers like BMW and Mercedes-Benz than automakers from Asia, experts say.

Persons: Tesla, Shawn Fain, ”, Harry Katz, “, Thomas Kochan, Tesla's, Justin Sullivan, Bill Lee, Nikki Haley, Joe Biden, Kochan, ” Kochan, “ There’s, “ Fain, he’s, Harley Shaiken, Jesse Jackson, John J, Kim, Elon Musk, Musk, “ Tesla, ” Shaiken, Biden, Erica Smiley, Smiley, ‘ we’ve, won’t Organizations: New, New York CNN, United Auto Workers, Ford, General Motors, Jeep, Chrysler, Detroit automakers, UAW, American, Toyota, Hyundai, Honda, Volvo, Mercedes, BMW, Nissan, Volkswagen, Cornell University’s School of Industrial and Labor Relations, Labor, Companies, Employers, National Labor Relations Act, MIT Sloan School of Management, Getty, Workers, Benz, Tennessee Gov, Former South Carolina Gov, Environmental Defense Fund, Alabama, M University, Jackson State University, University of California, Berkley, Chicago Tribune, Tribune, Service, Tesla, National Labor Relations Board, Employees, Bloomberg, CNN, Biden Union, Union, Biden, Justice, Detroit Locations: New York, United States, California, Texas, Tesla's Fremont , California, Tennessee, Kentucky, Alabama, Volkswagen’s, Chattanooga, Michigan, Detroit, Chicago, Chattanooga , Tennessee, Asia, Europe, Tesla’s Fremont California, ”

☆ Why dealers say EV sales have slowed
▼ + stars: | 2023-11-01 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

And yet, electric vehicles are piling up at dealership lots. EV and internal combustion engine (ICE) inventory started the year off at about 52 days' supply, according to Cox Automotive. In the case of a 52 days' supply, if automakers were to stop producing cars today, dealers would be able to keep selling cars for about that number of days before running out. Since January, EV days' supply has skyrocketed while ICE supplies have hovered between 52 and 58 days. EV supply at the start of October was 97 days, down from the peak inventory of around 111 days during early July.

Persons: Tesla, you'll, Jeff Aiosa Organizations: Cox Automotive, EV, ICE, Ford, Insiders, Mercedes, Benz Locations: U.S, EVs, New London , Connecticut

☆ Tesla's enduring power is even clearer after the EV competition in Detroit falls flat
▼ + stars: | 2023-10-31 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe traditional auto industry has had more than a decade to build viable electric vehicle businesses. Again, maybe the traditional auto companies get a pass. WeWork-level lossesFord's EV business lost $1.3 billion, before interest and taxes, in the third quarter of 2023 – on just $1.8 billion of revenue. Detroit has responded with EV price cuts to try to compete with Tesla. Its auto business had a gross profit margin of more than 16% in Q3.

Persons: Tesla, —, Ford, Elon, haven't, China's BYD, Goldman Sachs, Kelley, Mercedes, Price Organizations: Ford, GM, Service, General Motors, Toyota, Honda, Wall Street, EV, Detroit, Mercedes, Benz, Tesla, LG Energy, Auto Locations: Detroit

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