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☆ Trump or Harris? Here are the 2024 stakes for airlines, banks, EVs, health care and more
▼ + stars: | 2024-10-13 | by ( Hugh Son | ) www.cnbc.com time to read: +18 min

Former President Donald Trump and Vice President Kamala Harris face off in the ABC presidential debate on Sept. 10, 2024. The previous Trump administration didn't pursue those types of consumer protections. In contrast, Democrats, including Harris, have historically supported EVs and incentives such as those under the Biden administration's signature Inflation Reduction Act. Meanwhile, Harris, if elected, can build on existing efforts of the Biden administration to deliver savings to more patients, they said. Trump also led multiple efforts to repeal the Affordable Care Act, including its expansion of Medicaid to low-income adults.

Persons: Donald Trump, Kamala Harris, he's, Harris, Joe Biden's, Trump, Pete Buttigieg, Jonathan Kletzel, didn't, — Leslie Josephs Banks Big, JPMorgan Chase, Biden, Tobin Marcus, it's, Sen, JD Vance, they're, Lindsey Johnson, Hugh Son, Pablo Di Si, EVs, Joseph Spak, Harris hasn't, Mike Wayland, Drugmakers, Trump hasn't, Mariana Socal, Annika Kim Constantino, David Zaslav, John Malone, Time Warner, Simon, Simon & Schuster, Marc DeBevoise, Jonathan Miller, Elon Musk's, Musk, I'm, MAGA, I'm Dark MAGA, —, TikTok, — Lillian Rizzo, Alex Sherman, Michael Lynn, — Amelia Lucas Organizations: ABC, Getty, U.S, Trump, Treasury, Justice Department, Federal Trade Commission, Consumer Financial, Bureau, CNBC, The Biden Department of Transportation, Democratic, American Airlines, JetBlue Airways, Spirit Airlines, Industry, Boeing, JPMorgan, Securities and Exchange Commission, Currency, Federal Deposit Insurance Corporation, Biden, Wolfe Research, Bank, Republican, Bankers, Democratic Party, Consumer Bankers Association, Republicans, Volkswagen Group of America, Automotive News, Environmental Protection Agency, UBS, Mike Wayland Health, Commonwealth Fund, Medicare, Johns Hopkins Bloomberg School of Public Health, Annika Kim Constantino Media, Paramount Global, Skydance, Warner Bros, Discovery, Allen & Co, Sun, Media, Disney, Fox Corp, Time, Simon &, Random, MGM, FCC, Integrated Media, Twitter, Capitol, White, Lawmakers, Meta's Facebook, Alex Sherman Restaurants, National Restaurant Association, National Labor Relations Board, Social Security, Washington Post, Cornell University Locations: United States, PwC, JetBlue's, U.S, China, Ohio, Michigan, California

☆ Ex-Waymo CEO is not impressed by Tesla's Robotaxi
▼ + stars: | 2024-10-11 | by ( Lauren Edmonds | Tom Carter | ) www.businessinsider.com time to read: +5 min

Waymo's ex-CEO said Tesla isn't "serious about building a safe and accessible Robotaxi business." AdvertisementIt seems former Waymo CEO John Krafcik was unimpressed by Tesla CEO Elon Musk's much-hyped "We, Robot" event. Alongside the Robotaxi, Tesla also showed off a 20-passenger Robovan and its Optimus humanoid robots. He added: "If a company were serious about building a safe and accessible Robotaxi business, it would look nothing like what was shown, or said, last night." AdvertisementMusk teased Tesla Robotaxis in 2019.

Persons: Tesla, Waymo's, Elon, —, John Krafcik, Elon Musk's, Musk, Krafcik, Tesla's Robovan, Donald Trump, Phil Koopman, Horacio Villalobos, Morgan Stanley, Gene Munster Organizations: Service, Warner Bros, Fifth, Business, Deepwater Asset Management Locations: Burbank , California

☆ Stellantis CEO Carlos Tavares to retire in 2026 as automaker struggles in North America
▼ + stars: | 2024-10-10 | by ( ) edition.cnn.com time to read: +3 min

Detroit Reuters —Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management changes as it struggles to turn around its lagging North American operations. The world’s fourth-largest automaker by sales said it now planned to name his successor by the fourth quarter of 2025. The automaker also appointed Antonio Filosa as its North America chief operating officer in addition to his role as Jeep brand CEO, succeeding Carlos Zarlenga, whose future role has not been announced. Stellantis last week lowered its forecast from positive cash flow to negative cash flow of between 5 billion and 10 billion euros ($5.5 billion and $10.9 billion) this year. The broad management shakeup was meant to address these concerns, Tavares said in a statement Thursday.

Persons: Carlos Tavares, Tavares ’, Stellantis, Doug Ostermann, Natalie Knight, Antonio Filosa, Carlos Zarlenga, Tavares, “, ” Bernstein, ” Organizations: Detroit Reuters, Chrysler, Analysts, North America, Fiat, Peugeot, PSA, Maserati, Jeep, United Auto Workers Locations: North America, China, Detroit

☆ Sweden's Volvo says deputy CEO to step down in management reshuffle as EV demand slows
▼ + stars: | 2024-10-09 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Swedish automaker Volvo Cars on Wednesday announced deputy CEO Björn Annwall will step down from his current role as part of a management reshuffle designed to increase simplicity and collaboration in the organization. It comes shortly after Volvo Cars abandoned its near-term goal of selling only electric vehicles (EVs), citing a need to be "pragmatic and flexible." "In a rapidly changing world, we need to ensure our organisation is equipped to navigate a more challenging market," Jim Rowan, CEO at Volvo Cars, said in a written statement. "We are now regrouping our commercial leadership team with a focus on making Volvo Cars even stronger with increased speed and efficiency," he added. Volvo Cars said it was taking these steps to navigate challenges facing the automotive industry, such as headwinds driven by geopolitical and macroeconomic uncertainties, market sentiment, rapid technology shifts and supply chains.

Persons: Björn Annwall, Jim Rowan, Annwall, Arek Nowinski, Gretchen Saegh, Fleming, Oscar Bertilsson Olsborg Organizations: Volvo, Wednesday, Volvo Cars Locations: China

☆ The EU just made Chinese EVs a lot more expensive — and created a new threat for European automakers
▼ + stars: | 2024-10-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Europe is clamping down on Chinese electric cars. European automakers are facing plunging EV sales and pressure over looming emissions targets. AdvertisementEurope is clamping down on Chinese electric cars — but the move to protect the continent's automakers could create a new problem for the likes of Volkswagen and BMW. The European Union voted to impose sweeping tariffs on Chinese EV makers on Friday as it seeks to protect its automotive industry from what the bloc claims are unfairly subsidized cheap Chinese electric vehicles. The European tariffs come after the US introduced its own trade restrictions against Chinese EVs earlier this year.

Persons: —, Teslas, Elon Musk, Tesla, Viktor Orbán, French carmaker Renault, Luca de Meo, Julia Poliscanova Organizations: EU, Service, Volkswagen, BMW, European Union, SAIC, Benz Group, BMW Group, Mercedes, Benz, VW, French, Reuters, Transport, Environment, Transport & Environment, Business Locations: Europe, China, Paris, Germany, Hungary, Frankfurt, Beijing

☆ As Costco sells platinum, experts explain how the precious metal differs from gold
▼ + stars: | 2024-10-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco sells a broad selection of gold and silver products, and now it's adding platinum to the mix. The wholesaler has already sold through multiple rounds of platinum coins and bars in the past week. AdvertisementCostco shoppers have been snapping up a broad selection of gold and silver products over the past year. Costco now offers platinum products online, including both bars and coins. Related storiesGoldCore's business is primarily in gold and silver, but Russell told BI that platinum makes up a "very small percentage" of what the company sells.

Persons: —, Gary Millerchip, Edward Sterck, Sterck, bode, Mindy Schauer, David Russell, Russell Organizations: Costco, Service, Canadian Mint, Platinum Investment Council, Media, Getty, ICE Locations: Swiss, Orange

☆ Car companies have plenty of inventory, but the port strike will affect European brands the most
▼ + stars: | 2024-10-01 | by ( Benjamin Zhang | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Car companies have plenty of inventory, enough to cover 77 selling days. If no new inventory arrives, car companies have, on average, a 77-day supply of vehicles to sell. AdvertisementEuropean carmakers such as BMW, Mercedes-Benz, Volkswagen, and Volvo are expected to be most heavily affected, Reuters reported, citing research by Barclays analysts. BMW, Mercedes-Benz, Volvo, and Volkswagen all operate vehicle-processing and -distribution facilities at the port. At the same time, the Port of Jacksonville handled just over half a million vehicles from Toyota and Volkswagen in 2023.

Persons: Longshoremen, —, Martin Meissner, Cox, Mercedes, Stephen B, Morton Organizations: Service, Cox Automotive, BMW, Mercedes, Benz, Volkswagen, Volvo, Reuters, Barclays, VW, Audi, Toyota, Hyundai, Lexus, Kia Telluride, Port, Georgia Port Authority, Kia, International Longshoremen's Association, US Maritime Alliance, Associated Press Locations: Gulf, Europe, East, New York, Baltimore, Savannah , Georgia, Bremerhaven, Germany, West Coast, Asia, Coast, Jacksonville , Florida, Brunswick, Georgia, Savannah, Port, Jacksonville

☆ Google backs a startup that aims to bring mixed reality to any car windshield or plane cockpit
▼ + stars: | 2024-09-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Distance TechnologiesDistance Technologies, a Finnish startup that aims to bring mixed-reality technology to any car windshield or plane cockpit, has raised 10 million euros ($11.1 million) of funding from GV, the venture capital arm of Alphabet and other investors. Distance raised the cash injection in a seed round led by GV, with existing investors FOV Ventures and Maki.vc also stumping up more cash for the startup, the company told CNBC on Thursday. Konttori was formerly chief technology officer of Varjo, another Helsinki-based mixed-reality firm. "The main difference here is that we are driven by the software," Mäkinen told CNBC. For now, Distance has had to use simple optics and normal LCD displays to demonstrate its technology to prospective partners and investors.

Persons: Maki.vc, Konttori, Roni Hiranand, Meta, Jussi Mäkinen, Mäkinen, he's Organizations: Technologies, GV, FOV Ventures, CNBC, Helsinki, Google Ventures, Companies, Huawei, Bosch, Continental, Panasonic, Distance Technologies Locations: Finnish, Helsinki, China

Donald Trump narrowly captured each on his way to collapsing the Democrats’ vaunted “blue wall” in 2016. Wages going up. Wages going up. I talk to my friends, ‘Your wages going up?’ No. The pandemic-era stimulus checks, which Trump made a point of putting his name on, also come up regularly.

Persons: Hurley Coleman III, ’ ”, Phil Kerner’s, us, ” Kerner, ”, Barack Obama, Donald Trump, Joe Biden, ” Coleman, Kamala Harris, Hurley Coleman, Coleman, “, ” Hurley Coleman Jr, –, Phil Kerner, hasn’t, Edward, he’s, Kerner, George W, Bush, Guy, “ I’m, CNN –, CNN ‘, Trump ’ Kerner, I’m, “ It’s, Hurley Coleman Jr, Harris, HJ, He’s, Trump, Biden, that’s Organizations: CNN, Trump, General Motors, GM, of God, atrophied, Phil Kerner CNN, Republican, Democratic National Convention Locations: Saginaw , Michigan, Pennsylvania, Erie, Central Michigan, Erie , Pennsylvania, Saginaw

☆ UAW warns of potential strikes at Ford, Stellantis a year after unprecedented work stoppages
▼ + stars: | 2024-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – A year after unprecedented strikes by the United Auto Workers against the Detroit automakers, the union is once again threatening work stoppages that could disrupt the U.S. automotive industry. Both announcements amount to warning shots against Ford and Stellantis and center on local union contracts. Local contracts have historically taken months, if not years, to settle after a national agreement is reached. Last year's auto worker strikes came during historic negotiations over national contracts with all three Detroit automakers at once. The UAW did not immediately respond for comment Thursday regarding updates on the announcements or how many local contracts remain under negotiation.

Persons: Shawn Fain Organizations: Mopar, Center, DETROIT, United Auto Workers, Detroit automakers, UAW, Wednesday, Ford, General Motors, Detroit Locations: Center Line, Michigan, Detroit, U.S

☆ Trump tailors his message to key state of Michigan as he returns to the campaign trail after apparent assassination attempt
▼ + stars: | 2024-09-17 | by ( Eric Bradner | Alison Main | ) edition.cnn.com time to read: +6 min

“We are going to bring so many auto plants into our country,” Trump said. While the apparent assassination attempt on Sunday featured in his remarks frequently, Trump often sought to keep the town hall-style event focused on the auto industry and tariffs in particular. Vice President Kamala Harris’ campaign has said Trump’s proposed tariffs would effectively amount to an inflation-driving national sales tax. He also broke down the apparent assassination attempt, and its aftermath — including phone calls with Harris and Biden. Praise for Secret ServiceTrump said the Secret Service “did a hell of a job, they really did,” in stopping Sunday’s apparent attempted assassination.

Persons: Donald Trump, “, ” Trump, Shawn Fain, Joe Biden’s, Trump, they’re, Kamala Harris ’, Harris, “ We’re, Elon Musk, Biden, Flint Trump, Sarah Huckabee Sanders, Biden “, wasn’t, ”, Kamala, We’re, ” Harris, Secret Service Trump, Sunday’s, they’ve, Democratic Sen, Richard Blumenthal, Republican Sen, Josh Hawley, ” Hawley, —, ” CNN’s Alejandra Jaramillo, Ebony Davis, Morgan Rimmer, Danya Gainor Organizations: CNN, Trump, Palm, “, United Auto Workers, ”, Arkansas Gov, White House, National Association of Black Journalists, Secret Service, Service, Democratic, Senate Homeland, Department of Homeland, Republican, DHS Locations: Michigan, China, Mexico, Palm Beach, Flint, “, United States, Philadelphia, Butler , Pennsylvania, Missouri

☆ Jeep CEO enacts turnaround plan after significant sales declines
▼ + stars: | 2024-09-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Nonetheless, Jeep CEO Antonio Filosa believes the brand's worst days are behind it and it's still possible to achieve the 1 million sales target. Jeep salesFilosa said Jeep, which reports sales quarterly, saw U.S. sales rise last month: They were up 28% from August 2023 and 55% from July. The New York Stock Exchange welcomes The Jeep Brand (NYSE: STLA) to the podium, on May 31, 2024. Ahead of such vehicles, Jeep has increased its media spending by 20% compared with the first half of the year, according to the automaker. 2024 Jeep Wagoneer S EV Jeep

Persons: Michael Wayland, Antonio Filosa, Filosa, Cox, Filosa's, Carlos Tavares, Stellantis, Jeep, Lynn Martin, Tavares, Bob Broderdorf, Nathan Laine Organizations: CNBC DETROIT, Jeep, Cherokee, Cox Automotive, CNBC, Council, New York Stock Exchange, Brand, NYSE Group, NYSE, Fiat Chrysler, France's PSA Groupe, Paris, Bloomberg, Getty, U.S, EV Locations: U.S, American

☆ GM and Hyundai agree to explore collaboration on vehicles and manufacturing to reduce capital spending
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Mary Barra, chair and CEO of General Motors, and Euisun Chung, executive chair of Hyundai Motor Group, during the signing of an agreement between the two companies to explore future collaboration across key strategic areas. DETROIT — General Motors and Hyundai Motor have entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday. The automakers' potential areas of interest include co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy, electric and hydrogen technologies, they said in a joint press release. The automakers also said they will "review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas." The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra, the companies said.

Persons: Mary Barra, Euisun Chung Organizations: General Motors, Hyundai Motor, DETROIT —, Motors, Hyundai, Hyundai Motor Group Locations: DETROIT

☆ EV charging and range are improving. People still don't want to go electric.
▼ + stars: | 2024-09-10 | by ( Nora Naughton | ) www.businessinsider.com time to read: +6 min

Read previewWe're getting closer to a cure for range anxiety, so why don't more people want an EV? This dip in demand is reflected in a stagnation in EV sales growth over the past year as companies adjust to a new crop of more practical green-car shoppers. Battery-powered cars accounted for a record 7.6% of all car sales in 2023, according to Kelley Blue Book, up from 5.9% in 2022. Affordability is also a key issue for today's electric car shoppers, an issue the industry has tried to address with lower sticker prices. But EV shoppers have found a new cost to angst over.

Persons: —, EY, Marc Coltelli, Kelley, EVs, it's, Power, Raman Ram Organizations: Service, Business, Power, Utilities, Industry, EV, Pew Research, Department of Energy, Americas Aerospace, Defense Locations: Americas

GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. “The impact of the NFL on the automotive advertising industry is really very, very substantial,” said Alberto Leyes, head of product strategy at Guideline. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. Stellantis is expected to soon launch new ads for the NFL season, including around its Jeep brand, but a spokeswoman declined to provide additional details.

Persons: ”, Ryan Briganti, Alberto Leyes, “ We’ve, we’ve, ” Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall, Dedra DeLilli, That’s, ” DeLilli, “, DeLilli, Stellantis, Randy Parker, NBCUniversal Organizations: National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, NFL, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, Sunday, NBC, Automotive, Toyota North, Olympics, Hyundai Motor America, CNBC, Comcast, NBC Sports, NBC Olympics, Games Locations: Messina, U.S, Toyota North America, Paris

☆ The $100,000 electric truck market is here. A guide to pickups from Tesla, GM, Rivian and Ford
▼ + stars: | 2024-09-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

There are currently a handful of electric trucks for purchase in the U.S. market: the Tesla Cybertruck, Ford F-150 Lightning, Rivian R1T and General Motors' GMC Hummer EV, GMC Sierra Denali and Chevrolet Silverado. The GMC Hummer and Rivian also have SUV versions, which feature similar functions as their pickup counterparts but in different forms. The SUV version is smaller and more manageable to drive than the pickup truck version. When the F-150 Lightning hit the market, it was the first "mainstream" electric truck. An electric Ford F-150 next to a Tesla Cybertruck in front of Ford's world headquarters on Aug. 27, 2024 in Dearborn, Mich. Michael Wayland / CNBC

Persons: Michael Wayland, CNBC DETROIT – Tesla, Stephanie Brinley, it's, Stephanie Valdez Streaty, Tesla, Ford, Rivian R1T, Rivian, Kelley, Sierra EVs Organizations: GMC, Denali, Tesla, Ford, CNBC DETROIT, Motors, Rivian Automotive, P Global Mobility, Cox Automotive, General Motors, GMC Hummer EV, GMC Sierra Denali, Chevrolet Silverado, Motor Intelligence, Renaissance Center, CNBC, GM, U.S . Environmental Protection Agency, Cruise, Silverado, GMC Sierra GM's, DC, Chevrolet, Sierra Locations: U.S, Detroit, Dearborn, Mich

GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. Last NFL season, automakers were the most-seen brand industry, with more than 10% of TV ad impressions, according to ad data company iSpot. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. New ad campaignsToyota, as the "Official Automotive Partner of the NFL," launched a new ad campaign for the NFL season this week called "Roll Deep."

Persons: Ryan Briganti, Alberto Leyes, we've, Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall Organizations: NFL, National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, NBC, Automotive, Baltimore Ravens, Kansas City Chiefs Locations: Messina, U.S

☆ Tesla Cybertruck is in a category of its own for better or worse
▼ + stars: | 2024-09-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTA Tesla Cybertruck in front of a graffiti mural on Aug. 28, 2024 in Detroit. Those were all words used to describe the Tesla Cybertruck during a 24-hour rental of the vehicle in metropolitan Detroit. Fronts of the Ford F-150 Lightning, Tesla Cybertruck and GMC Sierra Denali EVs (left to right). The Tesla Cybertruck is unveiled at Tesla's design studio on Nov. 21, 2019, in Hawthorne, Calif. A Tesla Cybertruck in front of a graffiti mural on Aug. 28, 2024 in Detroit.

Persons: Tesla, Michael Wayland, It's, Terry Woychowski, Elon Musk Organizations: CNBC, Ford, Chevrolet, Tesla, GMC Sierra Denali, YouTube, General Motors, Ford Motor, Rivian Automotive, Hummer, Renaissance Center, Tech, GMC, Caresoft, GMC Hummer, GM Locations: Detroit, Chevrolet El, Hawthorne , Calif

☆ Glory days for automakers like Ford, General Motors in China are over
▼ + stars: | 2024-09-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).

Persons: Arno Antlitz, GM’s, Mary Barra, ”, Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, “ Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, “, CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary

☆ Podcast: Japan's quest for the most powerful microchip leads semiconductor revival
▼ + stars: | 2024-08-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +25 min

At the end of [the] 1980s, Japanese companies accounted for like 51% of the global semiconductor market. So by doing this ... one thing undercut Japanese semiconductor chip makers' competitiveness in the global market. Another thing [is] that [it] forced open [the] Japanese semiconductor market to foreign players, and this creates opportunity for the U.S., South Korea and Taiwan. And Japanese companies are trying to both develop their own capacity but also attract phone companies to establish fabs there. So by collaborating with international companies, Japanese companies can leverage their existing technology and manufacturing techniques to expand their global share as well.

Persons: Tom Chitty, Fei Xue, Tom Chitty Well, Arjun, Kharpal Fei, Reagan, Arjun Kharpal, Fei, it's, TSMC, Fei Xue Yes, Rapidus, Arjun Kharpal Fei, they're, there's, ASML, you've, He'd, Tom Chitty Fei, Arjun Arjun Kharpal, Tom, Tom Chitty We'll Organizations: TSMC, Rapidus Corporation, Samsung, Economist Intelligence Unit, Economist Intelligence, The Economist, Economist, East, International Relations, U.S, U.S ., Taiwan Semiconductor Manufacturing, IBM, Apple, EV, Japan, Nvidia, Micron, Sony, Nintendo, Canon, South, Samsung Electronics, Tokyo, Screen Holdings Locations: Japan, Taiwan, U.S, Netherlands, Tokyo, beyondthevalley@cnbc.com, East Asia, Fei Xue Japan, South Korea, Japan's, Kyushu, Kumamoto Prefecture, TSMC, That's, China, Kumamoto

☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

☆ Tesla's unique approach to sales is giving it headaches
▼ + stars: | 2024-08-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

The big storyFor saleGetty Images; Jenny Chang-Rodriguez/BIOne of Tesla's biggest assets is its willingness to try new things, but its unique approach to sales is also what's giving it headaches. AdvertisementA key issue is Tesla's inability to evolve its sales tactics as the EV market rapidly changes . Business Insider's Grace Kay spoke to more than a dozen current and former employees in Tesla's sales division about how the company has tried to kick-start its sales unit . Not unlike its cars, Tesla's sales approach is innovative compared to the rest of the automotive industry. It's a great strategy when the cars sell themselves — which Teslas did for a while — since you don't need to maintain a traditional sales structure.

Persons: —, Jenny Chang, Rodriguez, It's, Elon Musk, Insider's Grace Kay, There's, Teslas, Justin Sullivan, Fintechs, chatbots, Rebecca Zisser, Goldman Sachs, James Knightley, Andy Jassy, Mike Blake, Chelsea Jia Feng, Venu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, EV, Tech, Citadel, ING Economics, Big Pharma, Pfizer, Novo Nordisk, Department of Labor, Chevron, ExxonMobil Locations: New York, London

☆ Ford, GM, Stellantis face a daunting second half of 2024
▼ + stars: | 2024-07-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Stock Chart Icon Stock chart icon Ford, GM and Stellantis shares"Investors who think autos can outperform on + earnings beats and buybacks should think again. GMFor GM, investors balked at pullbacks in growth businesses, waning upside during the second half of the year, and fear that the automaker's earnings power has peaked, according to Wall Street analysts. Selling more EVs is one reason that GM, which has raised its annual financial guidance twice this year, expects the second half to underperform the first. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. StellantisTransatlantic automaker Stellantis arguably faces the most challenging second half of the year, particularly regarding its U.S. operations.

Persons: Ram, Joe Raedle, Morgan Stanley, Adam Jonas, Jonas, Stellantis, GM's, Mary Barra, Ford, Ford doesn't, Joseph Spak, Bill Pugliano, John Lawler, Lawler, Carlos Tavares, Remo Casilli Organizations: Dodge Chrysler, Getty, DETROIT, Ford, Detroit automakers, GM, Wall Street, Analysts, Street, UBS, Ford Dearborn Plant, Ford Pro, Transatlantic, Stellantis Locations: Miami , Florida, U.S, China, Dearborn , Michigan, Atessa, Italy

☆ Ford Motor is about to report earnings. Here's what to expect
▼ + stars: | 2024-07-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The Ford display at the New York International Auto Show on March 28, 2024. DETROIT — Ford Motor is set to report second-quarter earnings after the markets close Wednesday. Ford's second-quarter results last year included $42.43 billion in revenue; net income of $1.92 billion, or 47 cents per share; and adjusted earnings before interest and taxes, or EBIT, of $3.79 billion. Ford's guidance for the year includes adjusted EBIT of between $10 billion and $12 billion and free cash flow of $6.5 billion to $7.5 billion. Ford's stock is up about 15% this year, as pricing in the automotive industry has remained more resilient than expected.

Organizations: New York, DETROIT, Detroit, Motors, Ford Locations: Canadian

☆ Tesla's cars are starting to look pretty basic — and that's a problem
▼ + stars: | 2024-07-24 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

But people looking for a flashy new design in Tesla's more traditional car lineup are stuck waiting for now. The Model S and Model X used to be the ultimate status symbol. In 2020, TikTok star Addison Rae made headlines when she was spotted in her bright pink Tesla Model X. And the design of the Model S and Model X hasn't been meaningfully updated since 2021. "If you start announcing some great thing, it affects our near-term sales," Musk said on Tuesday.

Persons: —, Tesla, Addison Rae, Brian Moody, Elon Musk, Tesla's, Edmunds, Ivan Drury, that's, Moody, Musk, Osborne, Stephanie Valdez, Valdez, Streaty Organizations: Service, Business, Cox Automotive, Streaty, Cox Automotive Industry, EV

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