People try their luck at winning a car from the Carvana vending machine at SXSW festival in Austin, Texas on March 12, 2016. Michelle Castillo | CNBC Shares of Carvana jumped by as much as 32% Thursda...
Tag: Autos
Tesla Stock Keeps Falling as Elon Musk Sells
Elon Musk sold Tesla stock on Friday, Monday, and Tuesday. Investors were following his lead on Wednesday. Although the stock (ticker: TSLA) traded higher at points early in the day, the gains didn’t ...
Plug Power Missed Sales Estimates By a Mile. Wall Street Isn’t Worried.
Hydrogen fuel-cell technology company Plug Power reported third-quarter results that fell way short of Wall Street expectations, but analysts still believe the company’s future is very bright. Tuesday...
Lucid Stock Plunges as Reservations for Cars Drop
Electric-vehicle maker Lucid turned in respectable third-quarter earnings and stuck with its forecast for vehicle shipments this year, but the stock was dropping. Reservations were the issue. Lucid (t...
Volvo reveals new $80,000 electric SUV with Luminar lidar
Volvo’s plans to exclusively sell all-electric vehicles by 2030 kicked off Wednesday with the reveal of its EX90 – the first in a new lineup of EVs for the Swedish automaker. The carmaker is cal...
Renault is betting the market for gasoline cars will continue to grow
Renault sees the internal combustion engine continuing to play a crucial role in its business over the coming years, according to a top executive at the French automotive giant. On Tuesday, it was a...
Lucid (LCID) earnings Q3 2022
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle maker Lucid Group on Tue...
Auto loan delinquencies rise as loan-accommodation programs end
With inflation cutting into the budgets of Americans, a growing percentage of people with auto loans are struggling to make their monthly payments. TransUnion, which tracks more than 81 million auto l...
From Teslas to BMWs, cars are piling up on land and sea at German port
Krisztian Bocsi | Bloomberg | Getty Images The Port of Bremerhaven, the main roll on/roll off port in Germany and one of the largest automobile hubs in the world, is experiencing gridlock. The combina...
Carvana stock tanks in continued sell-off
A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Shares of Carvana plummeted for a second-consecutive trading day as investors unloaded sha...
Carvana, Dealers Show Risks of Deflation. Ford, GM Investors Should Watch Out.
Text size A Carvana car-vending machine in Huntington Beach, Calif., in 2019. Mark Ralston/AFP/Getty Images Why buy now if prices are going to be lower tomorrow? That isn’t a question U.S. consumers h...
Tech can’t find a bottom; industrial, consumer stocks bounce
Lots of companies got clocked last week. We saw weakness in a host of industries everything from media to gambling to cloud computing and software sales. The pain in the technology sector seems to kno...
Carvana stock craters as outlook darkens for used vehicle market
Shares of Carvana posted their worst day on record Friday after the company missed Wall Street’s top- and bottom-line expectations for the third quarter as the outlook for used cars falls from r...
Carvana (CVNA) earnings Q3 2022
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana fell in extended trading Thursday after the online used car retailer missed Wall Street’s top- and bottom-line expectations for the...
Nikola Stock Is Rising. The Company Is Making More Trucks.
Stock in the electric and hydrogen truck-technology firm Nikola is rising after the company reported better-than-expected third-quarter sales. The company is ramping up production—a good sign for any ...
How your credit score affects the cost to finance a car
Tim Boyle | Bloomberg | Getty Images Although prices for new cars are moderating a bit, financing a vehicle purchase hasn’t been getting any cheaper. With the Federal Reserve’s latest inte...
Self-Driving Technology Provider Luminar Just Hit a Big Milestone
After 10-plus years of moonshot R&D, Luminar Technologies has made it into automotive production with its radarlike systems. Wednesday evening, lidar maker Luminar (ticker: LAZR) reported third-qu...
Jeep-maker Stellantis expects raw material inflation to ease next year
Engines undergo a final inspection at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images Automaker Stellantis expects inflation costs on raw mate...
Ford Transit Trail 2023 targets boom in RV ‘van life’
Ford says Transit Trail owners will have access to the Ford Pro network of upfitters and interior installers to create the interior space they desire. (Preproduction model shown with aftermarket equip...
EV battery firm Britishvolt averts immediate collapse with short-term funding
Charging points for electric vehicles in London, England. Jon Challicom | Moment | Getty Images LONDON — U.K.-based electric vehicle battery firm Britishvolt said Wednesday it had secured short-term f...
Xpeng electric car deliveries drop in October to half of Nio’s
Xpeng said deliveries of its newly launched G9 SUV surged in October from September, despite a drop in the brand’s overall monthly deliveries. China News Service | China News Service | Getty Ima...
Volkswagen and Porsche’s Earnings Don’t Make a Lot of Sense. The Numbers, Explained.
Text size Investors should ask themselves why Volkswagen is worth nothing when its stake in Porsche is backed out. AFP via Getty Images European auto makers Volkswagen and Porsche both reported third ...