Tag: auto industry news
Rivian gets millions in state incentives for Illinois factory expansion
Rivian Automotive announced this week that it has secured an $827 million incentive package from Illinois, intended to fund an expansion at its Normal...
Ford sales decline in April as hybrids display resilience
Ford revealed a 2.4% decline in U.S. sales for April, attributing the drop to reduced demand for F-Series trucks, Broncos, and other SUVs. Despite...
Toyota establishes U.S. hydrogen headquarters in Los Angeles
Toyota this week announced that it would establish a new North American hydrogen headquarters in its Los Angeles Research and Development (R&D) office.
According to...
Beyond Reach: How new car prices are leaving consumers behind
What if you could predict the future? Imagine if that prediction wasn't based on some crystal ball but rather on a keen observation of...
Tesla abandons ‘gigacasting’ production process amid cost-cutting measures
According to a recent report by Reuters, the Austin-based EV manufacturer Tesla has abandoned its plan to advance gigacasting, a groundbreaking production process. This...
Carvana posts record-breaking Q1 profits after aggressive restructuring
Carvana posted record-breaking earnings for the first quarter in a dramatic recovery from early 2023, underlining the impact of an aggressive restructuring effort over...
Federal Reserve leaves interest rates unchanged after worrying inflation trends
The Federal Reserve left interest rates unchanged after its policy hearing on Wednesday, marking the central bank's sixth consecutive meeting without making any adjustments to its...
Ryan Kerrigan unveils global automotive M&A dynamics and EV realities
From acquisitions to shifting consumer preferences, in today's episode of Inside Automotive, we're discussing factors driving M&A activity as highlighted in The Blue Sky...
NHTSA finalizes life-saving automatic emergency braking rule
The National Highway Traffic Safety Administration (NHTSA) has finalized a rule requiring automatic emergency braking (AEB) systems in all new passenger cars and light...
Stellantis earnings decline as sales stagnate in U.S.
Stellantis disclosed a 12% revenue decline to $44.7 billion for the first quarter of 2024 compared to the previous year.
Stellantis attributed the dip to...
