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☆ GM has a secret to help sell its new EVs. It's Costco
▼ + stars: | 2024-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Costco Auto has facilitated more than 500,000 vehicle sales annually over the past five years on average, according to Jay Maxwell, Costco Auto Program general manager responsible for strategic partnerships. GM declined to disclose how many Costco customers have purchased GM vehicles through the program. EV interestA growing number of vehicle sales made through Costco Auto are of electric vehicles, Costco said. In addition to GM, Costco Auto has partnered with Volvo, including its Polestar EV startup brand, Audi and others over the years. The Costco Auto Program was initially part of wholesale competitor Price Club, which merged with Costco in 1993.

Persons: Kena, Motors, it's, Marissa West, Michael Wayland, Jay Maxwell, Maxwell, Mary Barra, That's, Cox, Scott Mlyn, Julie Craig, –, Melissa Repko Organizations: Costco, Corbis, Getty, DETROIT —, Costco Wholesale, Detroit automaker, Costco Auto Program, EVs, Chevrolet, Chevrolet Blazer, GM North America, CNBC, U.S, Costco Auto, Canada, Ford Motor, Volkswagen, Brands, Lithia Motors, AutoNation, GM, EV, Volvo, Audi, CNBC Costco Auto, Cadillac, Industry, Cox Automotive, Dealers, New York Auto Show, Price Club Locations: Teterboro , New Jersey, CNBC, U.S, Detroit, Canada

☆ Vietnamese companies eye the U.S. IPO market amid a lull in Chinese listings
▼ + stars: | 2023-12-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

While not strictly an IPO, the listing was soon followed by Vietnamese tech unicorn VNG's filing to list on the Nasdaq. As local companies grow, "they are outgrowing the ability of those markets to provide the capital that they need," said Drew Bernstein, co-chairman of accounting firm MarcumAsia. Since the fallout over Didi in the summer of 2021, regulation and a tepid U.S. IPO market have stalled most Chinese listing plans. She said given the success of Southeast Asian ride-hailing company Grab , more Vietnamese companies are starting to look beyond the domestic market to regional business. George Chan, global IPO leader at EY, expects "a lot" of companies from Southeast Asia will reach the IPO stage in the next 12 to 18 months, and might also consider the Hong Kong exchange.

Persons: Scott Mlyn, VinFast, Johan Annell, VNG, Drew Bernstein, It's, Bernstein, who'd he'd, Didi, Gary Dvorchak, Blueshirt, Nguyen Nguyen, Vu Van, ELSA, Van, George Chan Organizations: New York Auto Show, CNBC BEIJING, U.S, Spade, Nasdaq, ARC Group, China -, Renaissance Capital, Investor, CNBC, World Bank, Southeast Asia — Locations: Asia, U.S, Vietnam, Beijing, Cayman Islands, Malaysia, China, China - U.S, Thailand, Indonesia, Singapore, Southeast Asia, Hong Kong

☆ Every 36 minutes, a child in the US is diagnosed with cancer. Here's how Hyundai is funding research to find a cure.
▼ + stars: | 2023-09-21 | by ( Sponsor Post | Created Hyundai Hope On Wheels With Insider Studios | ) www.businessinsider.com time to read: +5 min

Every September, the nation spotlights the need for more awareness and support in the battle against pediatric cancer. Hyundai Hope On WheelsFor 25 years, Hyundai has been on a quest to end childhood cancer with Hyundai Hope On Wheels. Hyundai Hope On Wheels has provided research and support grants to some of the nation's top pediatric hospitals and research centers. Hyundai Hope On Wheels celebrates 25 years with a $25 million donation to pediatric cancer research at the 2023 New York Auto Show . Click here for more information about Hyundai Hope On Wheels' efforts to end pediatric cancer.

Persons: —, Hope, Raynie Clark, Oliver Foster, John Guastaferro Organizations: Hyundai, Hyundai Hope, Hyundai Motor America, New York, Cancer, handprints, York Auto, Youth Ambassador, Humanity, Insider Studios Locations: New England, Las Vegas , Nevada, Bloomington , Illinois

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

☆ Toyota shares surge 5% after announcing plans for next-gen battery EVs
▼ + stars: | 2023-06-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

In this article 7203.T-JP Follow your favorite stocks CREATE FREE ACCOUNTA display of Toyota electrified vehicles at the 2022 New York Auto Show, April 13, 2022. Toyota has a goal of achieving sales of 1.5 million all-electric vehicles per year by 2026, and selling 3.5 million all-electric vehicles annually by 2030. Separately, the company is also developing a method for mass producing all-solid-state batteries for battery electric vehicles, and aims to commercialize this in 2027 to 2028. Toyota said it will be looking at a 20% improvement in cruising range for its all-solid-state batteries, compared to the current batteries. HEVs refer to hybrid electric vehicles, which are vehicles that are powered by a conventional internal combustion engine in combination with one or more electric motors.

Persons: Scott Mlyn, Koji Sato, Sato, Akio Toyoda Organizations: Toyota, York Auto Show, CNBC, Tesla, Nikkei

☆ Automakers find a tax credit loophole to increase EV leasing and boost sales
▼ + stars: | 2023-05-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Buying a used Ioniq, which is produced in South Korea and Indonesia, wouldn't earn him $7,500 off through a federal tax credit. "I ran the numbers — what it would be without the leasing credit and with the leasing credit — and that kind of put me over the top and that was the main thing of why I went in that direction," he said. For a $50,000 EV and a 36-month lease, Chesbrough estimates the full $7,500 tax credit equates to $222 in monthly savings for a consumer. "It also allows them to level the playing field against competitors who get the full tax credit when purchasing." I wouldn't call it leveling the playing field," Watson said of leasing qualifying for the $7,500 tax credit.

☆ Why GM is killing the Chevy Bolt — America's cheapest EV — amid record sales
▼ + stars: | 2023-04-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTA Chevrolet Bolt EUV on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBCDETROIT — After years of lackluster performance and a fire-provoked recall, the all-electric Chevrolet Bolt EV was finally gaining traction for General Motors . The Bolt EV would start at $26,595, followed by the Bolt EUV at $28,195. A 2019 Chevrolet Bolt EV caught fire at a home in Cherokee County, Georgia on Sept. 13, 2021, according to the local fire department. Cherokee County Fire DepartmentStill, GM touted the Bolt EV as proof of the concept for its electric-powered future.

☆ The coolest cars we saw at the New York auto show, from a sleek electric Hyundai to an all-terrain Lamborghini
▼ + stars: | 2023-04-08 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

It has knobby tires, protective cladding, and extra lights up front. And, since this is a Lambo after all, the Huracan Sterrato has 602 horsepower and can can hit 60 mph in 3.5 seconds, the brand claims. The Lamborghini Huracan Sterrato. Tim Levin/Insider

☆ After a Boom, an Auto Profit Bust Looms
▼ + stars: | 2023-04-07 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

It is getting easier to buy a new car, but also more tempting to wait for discounts. Visitors to the New York Auto Show last April, when U.S. new-vehicle inventories were at rock bottom, got to see lots of exciting new products they might struggle to actually buy, particularly below the sticker price. When this year’s show opens to the public on Friday, potential car buyers can browse knowing that availability on dealer lots is improving. They might even get a deal.

☆ After a Boom, the Auto Bust Has Begun
▼ + stars: | 2023-04-06 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

NEW YORK, April 5 (Reuters) - Ford Motor Co (F.N) and Chrysler-parent Stellantis (STLAM.MI) said on Wednesday that most of its electric and plug-in electric hybrid models will see tax credits halved to $3,750 on April 18 after new U.S. Treasury rules take effect. The other models currently getting credits - Ford Mustang Mach-E, Ford E-Transit, Ford Escape Plug-In Hybrid and Lincoln Corsair Grand Touring - will see credits drop to $3,750. Stellantis said of its three plug-in hybrid electric models, its Chrysler Pacifica plug-in electric hybrid will qualify for $7,500 tax credits after April 18, while the Jeep Grand Cherokee 4xe and Jeep Wrangler 4xe qualify for just $3,750. All U.S. EV consumer tax credits require vehicles to be assembled in North America and have income and retail price caps. Electric vehicles leased by consumers can qualify for up to $7,500 in commercial clean vehicle tax credits without any of the same restrictions.

☆ Stellantis unveils Ram EV pickup, to debut late in 2024, at New York auto show
▼ + stars: | 2023-04-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The EV truck will go on sale in one of the most important segments of the North American electric vehicle market. Stellantis CEO Carlos Tavares said the truck will be built in the U.S. and the location would be announced soon. He told reporters on the sidelines of the auto show that consumers will choose the Ram over other EV trucks because it will exceed other trucks' performance on range, speed of charge, towing and other factors. The Ram truck's launch late in 2024 will come more than two years after similar EV trucks like the Rivian (RIVN.O) R1T electric pickup and Ford's (F.N) F-150 Lightning electric truck. The RAM EV truck will be built on a new body-on-frame architecture designed for full-size EVs, capable of towing up to 14,000 lbs and carry a payload of up to 2,700 lbs.

☆ Watch the Tesla Cybertruck run suspension tests at the Fremont factory
▼ + stars: | 2023-04-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Elon Musk has slowly dripped out details about the electric pickup truck since the reveal in 2019. In the years since the Cybertruck reveal, Elon Musk has slowly dripped out details on the truck. Once the Cybertruck does go on sale, it will be entering an increasingly crowded electric pickup truck market. GM is also planning to release an all-electric version of its popular Chevrolet Silverado truck this fall, while Ram's upcoming electric pickup truck is featured at the New York Auto Show this week. Watch the latest Cybertruck video here:Are you a Cybertruck order-holder?

☆ Hyundai's best years in the U.S. are set to be tested by the Inflation Reduction Act
▼ + stars: | 2022-11-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

"I think what Hyundai, Kia and Genesis have done is they've really compressed that time frame. Sales of Hyundai and Kia vehicles have risen roughly 61% since 2010 to more than 1.4 million vehicles in the U.S. last year. LMC forecasts Hyundai's sales of all-electric vehicles are expected to represent 9.2% of the U.S. EV market this year. While sales are expected to grow that percentage is seen as the company's peak until at least 2024 or 2025, when the new Georgia plant is set to come online. Munoz said the new Georgia plant is expected to produce 300,000 vehicles annually, with the potential to reach 500,000 in the future.

☆ How GM plans to convince consumers to make the switch to electric vehicles
▼ + stars: | 2022-10-08 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +6 min

Scott Mlyn | CNBCWhen people think of electric vehicles, their minds typically jump to Tesla. GM plans to sell up to 175,000 electric vehicles to Hertz Global by 2027 – rentals are a key method to introduce more people to EVs without having to commit to a purchase. Over the years, GM has created other virtual showrooms like Chevy MyWay and Cadillac Live, but GM EV Live is the first EV-only showroom being offered by GM. Focus on all the in-car technology, not just EV technology GM is focused on advancing technology to create better and safer driving experiences along with sleeker models for EVs. Maintain core principles through EVs Wahl said one thing that has not changed is the underlying principles of marketing.

☆ 5 things to know before the stock market opens Tuesday
▼ + stars: | 2022-09-20 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

U.S. equities markets, coming off a positive Monday, were set to open lower Tuesday morning. Scott Mlyn | CNBCCompanies are still contending with supply chain issues, particularly as costs keep rising. The company said supply problems have resulted in parts shortages that affect about 40,000 to 45,000 vehicles, particularly trucks and SUVs. Regulations require at least 1,500 hours of flight time for commercial pilots, with exceptions made for certain kinds of military experience. Republic, for its part, said the FAA didn't give "its proposal review and engagement it deserves."

☆ Meet 8 of the top cars seen at the New York Auto Show — and the newest ones from budding EV startups
▼ + stars: | 2022-04-22 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +1 min

Auto shows have helped car companies over the years make big splashes and reveals. Automakers and startups showed off refreshes and new vehicles at the New York Auto Show this year. Here's a look at some of the hottest cars that automakers showcased in New York. This article is part of the Ride Along series, a collection of stories recapping some of the biggest auto shows around the country. But the show's spotlight also shone brightly on EV startups — and quite fresh ones at that.

☆ Review: The $23,000 Hyundai Venue Denim compact SUV is an absolute steal for the price
▼ + stars: | 2021-09-09 | by ( Alanis King | ) www.businessinsider.com time to read: +12 min

But when a 2021 Hyundai Venue Denim recently showed up at my door for a two-week test drive, I realized maybe the Denim wasn't the ugly one. The Hyundai Venue Denim. Hyundai Venue Denim ($22,050): adds LED headlights as well as "Denim" appearance package with blue body, white roof, and blue interior. Blue, blue, blue. The Hyundai Venue Denim.

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