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Jan 31 (Reuters) - U.S. stock indexes were set to open higher on Tuesday after wage growth data pointed to easing inflation ahead of the Federal Reserve's decision on interest rates. U.S. labor costs increased less than expected last quarter as wage growth slowed, suggesting that the central bank's aggressive approach to taming inflation was taking hold. "Labor costs are still high, but this means costs have come down, and that's a key factor for future wage inflation." The U.S. 10-year Treasury yield fell after the labor costs data, and was last at 3.50% compared to 3.55% on Monday. The world's largest parcel delivery firm United Parcel Service(UPS.N) also added 1.9% on strong quarterly earnings.

☆ GM, Lithium Americas to develop Thacker Pass mine in Nevada
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - General Motors Co (GM.N) and Lithium Americas Corp (LAC.TO) on Tuesday announced they would jointly invest to develop the Thacker Pass mine in Nevada. Under the agreement, GM will make an equity investment of $650 million in Lithium Americas. Lithium carbonate from Thacker Pass will be used in GM's proprietary Ultium battery cell. U.S.-listed shares of Lithium Americas rose over 9% in premarket trade. Production at Thacker Pass, which is expected to create 1,000 jobs in construction and 500 in operations, is projected to begin in the second half of 2026, the companies said in a statement.

U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, bolstering expectations of the Fed slowing the pace of its interest rate increases. "As the Fed meeting begins today, they'll be looking at every index that could give them a better judgment on inflation and this is one of them," said Peter Cardillo, chief market economist at Spartan Capital Securities LLC. "Labor costs are still high, but this means costs have come down, and that's a key factor for future wage inflation." United Parcel Service (UPS.N) jumped 4% on strong quarterly earnings, boosting the Dow Jones Transport Average index (.DJT). The S&P index recorded four new 52-week highs and no new low, while the Nasdaq recorded 32 new highs and 14 new lows.

☆ Fasten your seatbelts
▼ + stars: | 2023-01-30 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday. The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points. Meta Platforms Inc (META.O) waits in the wings on Wednesday, with Apple Inc (AAPL.O), Amazon.com (AMZN.O) and Alphabet Inc (GOOGL.O) on deck for Thursday. Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy.

☆ Morning Bid: Fasten your seatbelts
▼ + stars: | 2023-01-30 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

☆ Why Auto Marketing Looks Poised for Growth in 2023
▼ + stars: | 2023-01-27 | by ( Megan Graham | ) www.wsj.com time to read: +5 min

A year like that might typically drive auto marketing off a cliff. “We haven’t taken our foot off the accelerator, because we do see the transformation of EVs occurring,” Mr. Wager said. “You don’t put a vehicle in the Super Bowl to sell 20,000 vehicles—that doesn’t make any sense,” Mr. Wager said. “You wouldn’t put it on television normally, unless you’re creating the halo of the electrification of the brand,” Mr. Wager said. Kia will be at the Super Bowl again this year, this time advertising its Telluride SUV.

☆ LG Energy Solution Q4 profit rises threefold, misses forecast
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

The South Korean company, which supplies Tesla (TSLA.O), General Motors Co (GM.N) and others, reported operating profit of 237 billion won ($192.92 million) for the October-December period, versus 76 billion won a year earlier. That compared with an average analyst forecast of 256 billion won compiled by Refinitiv SmartEstimate. It missed analysts' estimates because of one-off costs such as energy storage system-related provisions and year-end bonuses. Revenue for the quarter rose 92% to 8.5 trillion won, LG Energy said in a regulatory filing. ($1 = 1,228.5000 won)Reporting by Heekyong Yang and Joyce Lee; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ GM, Ford must convince investors they can profit as prices fall
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

Already there are signs the Detroit automakers are scaling back spending to offset competitive and economic pressure. GM and Ford both rely on sales of pickup trucks and SUVs in the United States for the bulk of their global profits. The risk to the Detroit automakers' profitability would be a challenge in the best of times. But now, GM and Ford must factor in forecasts for a slowdown, or even a recession, in the U.S. economy. The Model Y SUV competes with Ford's Mustang Mach-E, GM's Cadillac Lyriq EV, and with combustion SUVs the Detroit automakers sell.

The company offered a positive outlook in the North American market, where it sees a growing number of customers requesting made-in-USA batteries to be qualified for federal EV subsidies. The company had secured additional orders worth about 20 trillion won in the fourth quarter, Chief Financial Officer Lee Chang-sil added. LGES reported operating profit of 237 billion won ($193 million) for the October-December period, versus 76 billion won a year earlier. That compared with an average analyst forecast of 256 billion won compiled by Refinitiv SmartEstimate. Revenue for the quarter rose 92% to 8.5 trillion won, LG Energy said in a regulatory filing.

☆ For automakers, the EV surge is everything everywhere all at once
▼ + stars: | 2023-01-26 | by ( Joseph White | ) www.reuters.com time to read: +4 min

He must accelerate the Japanese automaker's efforts to develop more competitive electric vehicles. But he will get little breathing room from Tesla or the Chinese EV manufacturers who are using their leads in EV technology and production costs to slash prices. THE SHIFTING GROUNDGlobal automakers are experienced with periods of feast and famine that come on roughly seven-to-ten year cycles. South Korea's Hyundai Motor Co (005380.KS) on Thursday reported better-than-expected results powered in part by strong sales of its new EV lineup. Hyundai forecast its EV sales would grow by 54% this year - a faster growth pace than Tesla has forecast.

☆ Mobileye beats revenue estimates as carmakers lap up autonomous tech
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - Mobileye Global Inc (MBLY.O) beat revenue estimates for fourth quarter on Thursday, driven by strong demand for its driver-assistance technology as manufacturers and fleet operators look to add more functionality to their vehicles. Revenue jumped 59% to $565 million in the quarter ended Dec. 31 for Mobileye, which provides autonomous driving technology. In the fourth quarter, Mobileye reported a net income of $30 million, or 4 cents per share. It had suffered a loss of $53 million, or 7 cents per share, last year. Mobileye, which was taken private by Intel Corp (INTC.O) in 2017, raised $861 million in its second initial public offering in October last year.

☆ GM, LG Scrap Plans to Partner on Fourth U.S. Battery Factory
▼ + stars: | 2023-01-20 | by ( Mike Colias | River Davis | ) www.wsj.com time to read: 1 min

A U.S. battery-cell factory that had been in the works between General Motors Co. and LG Energy Solution has been shelved indefinitely, people familiar with the matter said, marking a pause in the fast-growing partnership between GM and the Korean battery supplier. Talks in recent months between GM and LG Energy executives ended without an agreement to move forward on what would have been the fourth U.S. battery plant to be developed by the companies through their 50-50 joint venture, Ultium Cells LLC, the people said.

☆ GM, LG Energy drop plan for fourth U.S JV battery plant
▼ + stars: | 2023-01-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Rebecca CookWASHINGTON, Jan 20 (Reuters) - General Motors Co (GM.N) and LG Energy Solution (373220.KS) do not plan to move forward with a fourth U.S. battery cell manufacturing plant, two sources told Reuters on Friday. "We’ve been very clear that our plan includes investing in a fourth U.S. cell plant, but we’re not going to comment on speculation," GM said in a statement Friday. LG Energy did not immediately comment. GM could still proceed with plans to build a new plant in Indiana with a new partner, the sources said. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024.

GM and the factory workers - who allege illegal termination after the company decided to exit - have been locked in legal battles since 2021. The latest filing signals an escalation in the dispute as workers accuse GM's India unit and its executives, including CEO Mary Barra, of failing to follow court orders. In its earlier court filings, it has said the industrial court acted beyond its power in ordering the compensation. The union disagreed, and said GM continues to "blatantly violate" the industrial court's order by not paying the workers a single cent. After that, GM ceased all operations and moved to close the plant in Maharashtra, but it has not received permission.

☆ GM’s New Hybrid Corvette Will Be Its Fastest Yet
▼ + stars: | 2023-01-17 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

The 2024 Chevrolet Corvette E-Ray can go from zero to 60 mph in 2.5 seconds, about 0.1 second faster than the 2023 Corvette Z06. The first gas-electric hybrid Corvette will also be the fastest version of the American sports car, General Motors Co. said Tuesday. The Chevrolet Corvette E-Ray will start at just over $104,000 and go on sale later this year, 70 years after the first Corvette was unveiled.

☆ What's faster than a Corvette? A 'Vette with an electric motor
▼ + stars: | 2023-01-17 | by ( Joseph White | ) www.reuters.com time to read: +1 min

[1/4] General Motors Co's new, hybrid electric sports car, the Corvette E-Ray, is seen in this undated handout photo obtained by Reuters January 15, 2023. General Motors/Handout via REUTERSDETROIT, Jan 17 (Reuters) - General Motors Co (GM.N) on Tuesday revealed a new, hybrid Corvette sports car that uses an electric motor and battery to amp up acceleration and go in the snow. The Corvette E-Ray - a play on the Stingray name used for gasoline-powered versions of the sports car - was revealed on the 70th anniversary of the debut of the original Corvette. The Corvette E-Ray will use a 12-volt lithium-ion battery and a 160-horsepower electric motor to drive the front wheels. A fully electric Corvette will come, but GM executives are not saying when.

☆ Indonesia close to EV deals with BYD Group and Tesla - minister
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 17 (Reuters) - Indonesia is finalising agreements with China's automaker BYD Group and U.S. carmaker Tesla (TSLA.O) to invest in electric vehicle (EV) production facilities in the Southeast Asian country, a senior cabinet minister said on Tuesday. Indonesia is aggressively promoting investment into batteries and EVs at home to take advantage of its rich nickel resources. BYD Group, the number one in the world, Tesla, the number two, Hyundai and so on, they are all finalising deals with Indonesia," coordinating minister Luhut Pandjaitan said in a meeting with provincial governments. BYD Group and Tesla did not immediately respond to requests for comment. SGMW Motor Indonesia, part of a joint venture of SAIC Motor Corp Ltd, General Motors Co (GM.N) and Wuling Motors Holdings (0305.HK), has built assembly facilities in Indonesia.

☆ Indonesia says investment talks with Tesla still ongoing
▼ + stars: | 2023-01-12 | by ( Bernadette Christina | ) www.reuters.com time to read: +3 min

Luhut Pandjaitan, who has been leading the talks with Tesla, declined to disclose further details, citing a non-disclosure agreement. Bloomberg News also reported that the Indonesia talks include plans for production facilities and to facilitate the company's supply chain, citing people familiar with the matter. "I can't comment, we're still talking," Luhut told Reuters, adding that he had just recently held another round of talks with Tesla. Tesla currently makes its electric cars in China's Shanghai, Germany's Berlin, and Austin and Fremont in the United States. Indonesian authorities have said Japanese firms Toyota Motor Corp (7203.T) and Mitsubishi Motors Corp (7211.T) have pledged investments in EV production.

☆ U.S. Auto Sales in 2022 Worst in Over a Decade
▼ + stars: | 2023-01-05 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

The U.S. auto industry posted its worst sales year in more than a decade in 2022 as supply-chain snarls and poorly stocked dealerships dented results for many car companies. With few exceptions, auto makers on Wednesday reported sales declines for the year. General Motors Co. was one of the few to report an increase, after recovering from factory shutdowns that were caused by parts shortages.

☆ U.S. Auto Sales Stumble Toward Worst Annual Results in Over a Decade
▼ + stars: | 2023-01-05 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

The U.S. auto industry is poised to post its worst annual sales in more than a decade, as supply-chain snarls and poorly stocked dealerships dented sales for many car companies in 2022. With few exceptions, auto makers on Wednesday reported sales declines for the year. General Motors Co. was one of the few to report an increase, after recovering from factory shutdowns that were caused by parts shortages earlier in the year.

☆ Stellantis CEO delivers a technology statement with a Ram truck
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +2 min

The electric "Ram 1500 Revolution," unveiled at CES in Las Vegas, is a one-of-a-kind show vehicle meant to whet appetites for a production model due in 2024. It will arrive after rivals' offerings in one of the most important segments of the North American electric vehicle market. The real electric Ram truck will launch more than two years after the smaller Rivian (RIVN.O) R1T electric pickup and Ford's (F.N) F-150 Lightning electric truck. Tesla CEO Elon Musk has said the long-delayed Cybertruck will launch this year from a factory in Texas. ($1 = 0.9479 euro)Reporting by Joe White in Las Vegas Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Ford reports smaller drop in 2022 U.S. sales as inventory levels improve
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

The company sold 1,864,464 vehicles in 2022, down about 2.2%. General Motors Co (GM.N) on Wednesday reclaimed the top spot in U.S. auto sales from Toyota Motor Corp (7203.T) aided by higher inventory levels. Ford said on Thursday it sold 15,617 units of its popular F-150 Lightning electric truck in 2022 after they went on sale earlier in the year. Sales of Ford's SUVs, including models such as the Explorer and Bronco, rose nearly 5% in 2022. Truck sales fell 5.5% in the year, compared with a near 8.0% drop in 2021.

☆ GM Overtakes Toyota to Regain U.S. Auto-Sales Crown
▼ + stars: | 2023-01-04 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

The U.S. auto industry is poised for its worst year in more than a decade, as supply-chain snarls and poorly stocked dealerships dented sales for many car companies in 2022. Among the American auto makers, General Motors Co. said Wednesday U.S. sales rose 2.5% to 2.74 million for 2022 as it was able to recover from factory shutdowns earlier in the year that were due to parts shortages.

☆ Auto Industry Expected to Post Worst U.S. Sales Year in More Than Decade
▼ + stars: | 2023-01-04 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

The U.S. auto industry is expected to report a decline in overall sales for 2022, a year that was challenging for car companies and buyers alike as supply-chain snarls left dealerships with little inventory to sell. On Wednesday, General Motors Co., Toyota Motor Corp. and other auto makers are scheduled to release their year-end sales results, in the midst of growing concern over an economic slowdown that could further damp demand for cars and trucks and put pressure on profits this year. Ford Motor Co. plans to report its 2022 sales on Thursday.

☆ U.S. auto sales to fall in 2022, GM set to reclaim top spot from Toyota
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8% from 2021 and 20% from the peak in 2016, according to industry consultant Cox Automotive. Inventory shortages, caused by surging material costs and persistent chip shortage, spilled into 2022, hobbling production at many automakers. Reuters GraphicsGM's 2022 U.S. sales are set to rise 2.3%, while Toyota's is expected to fall 9%, according to Cox Automotive. Both automakers are set to report sales figures on Wednesday. Some industry observers fret that price hikes by automakers to blunt inflationary pressures and rising interest rates will take a toll on new vehicle sales in the new year.

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