Rivian confirms at least 800 layoffs, shifts focus to accelerating production
Amy Mast, a spokesperson for Rivian Automotive, has confirmed in an email that at least 6% or 800 out of 14,000 of its employees will be laid off to speed up the...
TSLA348.9503.33%
GM76.420-0.31%
F12.123-0.1175%
RIVN15.4300.19%
CYD42.780-0.06%
HMC24.040-0.33%
TM210.640-0.5%
CVNA336.2439.313%
PAG156.1200.97%
LAD273.1006.56%
AN200.5200.1%
GPI338.1400.03%
ABG204.0001.95%
SAH68.0600.235%
TSLA348.9503.33%
GM76.420-0.31%
F12.123-0.1175%
RIVN15.4300.19%
CYD42.780-0.06%
HMC24.040-0.33%
TM210.640-0.5%
CVNA336.2439.313%
PAG156.1200.97%
LAD273.1006.56%
AN200.5200.1%
GPI338.1400.03%
ABG204.0001.95%
SAH68.0600.235%
TSLA348.9503.33%
GM76.420-0.31%
F12.123-0.1175%
RIVN15.4300.19%
CYD42.780-0.06%
HMC24.040-0.33%
TM210.640-0.5%
CVNA336.2439.313%
PAG156.1200.97%
LAD273.1006.56%
AN200.5200.1%
GPI338.1400.03%
ABG204.0001.95%
SAH68.0600.235%
Auto News
CBT automotive newscast: July 29, 2022
Inside Automotive:
Supply chain problems still hindering auto sales—Is there an end in sight?
We know that successful dealership operations largely rely on strong vehicle sales, but manufacturers cannot produce enough cars...
J.D. Power and LMC Automotive expect new car sales to dip in July
According to J.D Power and LMC Automotive analysts, there will likely be a slump in retail auto sales for July due to massive supply-chain and distribution problems globally. Total sales, including retail and non-retail transactions, may...
Fed raises interest rates 0.75 points for the second time as inflation soars
In an effort to curb rising prices, the Federal Reserve hiked interest rates by another 0.75% Wednesday afternoon, the same amount as its last move in June. Following the announcement, markets surged,...
Penske Automotive reports its most profitable quarter to date
Penske Automotive Group has reported its quarterly earnings for Q2 2022. According to a recent press release, Penske produced an all-time record for earnings this quarter. Earnings per share increased...
Mercedes-Benz raises full-year guidance due to strong Q2 performance and robust demand
CEO of Mercedes-Benz AG, Ola Kallenis, recently discussed how the company has a healthy number of orders and demand, even with limited supply. Mercedes-Benz is rushing to produce high-quality vehicles, including...
Group 1 Automotive Q2 revenues increase 14.3% compared to 2021
Group 1 Automotive also reported its second quarterly earnings despite chain supply problems and inventory shortages. The total revenue for Q2 that Group 1 reported is $4.1 billion, a 14.3%...
CBT automotive newscast: July 28, 2022
Inside Automotive:
How Texas dealer Ben Keating is competing for market share amid tight supply conditions
Automotive dealers are challenged now, more than ever, with very limited supply. And while it is...
GM’s second-quarter net income decreases 39% from this time a year ago
Despite revenue growth of 4.7% in the second quarter, General Motors on Tuesday announced a year-over-year decline in net income of almost 40% and stated that it anticipates better performance in the second...
Dept. of Energy to loan $2.5 billion to GM and LG Energy Solution joint venture
The Department of Energy's Advanced Technology Vehicles Manufacturing Program (ATVM) was created by Congress under the administration of former President George W. Bush and has been dormant since 2010, until now.
Congress established...
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