Ford reported Q3 earnings after the market closed on Monday, beating Wall St revenue and EPS expectations. However, the company is still losing billions on its EVs. Here’s a closer look at Ford’s third-quarter 2024 earnings report. Third-quarter earnings preview Ford’s US retail sales rose 3% in the third quarter, with overall sales up 1%
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For the first time ever, Volkswagen plans to shut the doors to a facility on its home turf. The company plans to close not one but at least three plants in Germany as it faces mounting pressure from China. Volkswagen also warned mass layoffs and pay cuts are coming as it looks to cut costs.
Tesla has released a rare new blog post, and it’s an interesting one: Tesla is trying to standardize automotive connectivity and popularize a 48-volt architecture. After successfully standardizing its charge connector (NACS), Tesla wants to repeat this success with all the other electrical connectors inside vehicles. Tesla introduced a new 48-volt low-voltage electronic architecture in
Ford just made it easier for F-150 Lightning and Mustang Mach-E drivers to charge with new EV routing features. Drivers can now see new routing info, including available Tesla Superchargers along their route for easy trip planning. Ford launches EV routing for Google Maps First announced at CES 2024, Ford is making it easier for
Tesla has extended its 0% loan incentive in China through another month as it tries to achieve a record quarter. As we recently reported, Tesla guided that it aims to deliver more than 515,000 vehicles in Q4 2024. That’s 30,000 more vehicles than Tesla delivered during the same period last year, which was also the
Under a new agreement inked between Ford and LG, the companies will move production of EV batteries for the Ford Mustang Mach-E from Poland to its Michigan facility in 2025. This (of course) has everything to do with the IRA and tax credits. “To capitalize on competitive market conditions,” the new agreement moves Ford Mach-E
Hyundai gave its electric SUV an exclusive new look. The new Hyundai Kona EV Mauna Loa is “a powerful companion” with special features and accessories, but getting your hands on one will be hard. Check out the exclusive Hyundai Kona EV Mauna Loa “More freedom, more adventure,” Hyundai said after unveiling the special edition Kona
After charging up third-quarter sales, Kia plans to ramp up output of its new low-cost EV3 model. The compact electric SUV helped boost Kia’s EV sales numbers in the third quarter. Kia sold 54,000 all-electric vehicles in Q3, up 8.3% from last year. The growth was primarily due to the new EV3 rolling out. Despite
Kia sees an opportunity with its first electric PBV van launching next year. Although they are not even out yet, Kia is already finding new uses for the upcoming fit-for-purpose EV vans. We got our first look at the upcoming electric vans after Kia revealed its Platform Beyond Vehicle (PBV) business at the 2024 Consumer
Elon Musk just said some wild things about Tesla’s self-driving rollout – clarifying the path to Tesla deploying unsupervised autonomous vehicles next year. He may regret some of these comments. At the risk of repeating myself, Tesla has never released any data about its (Supervised) Full Self-Driving (FSD) program beyond the total number of miles
Stellantis is investing millions in innovative wind tunnel technology at its Michigan center. The company believes the new tech can help increase the driving range for upcoming EV models from Jeep, Dodge, and other Stellantis brands. Stellantis unveiled its new Innovative Ground Plane (MPG) technology this week. The company invested $29.5 million into its research
To promote emissions-free rides in the UK, Uber has teamed up with Lotus to deploy a fleet of the latter’s Eletre Hyper EVs around London. Now through the end of November, London commuters can book a ride in an Eletre by selecting Uber Green in their app. Better yet, the rider who saves the most
Tesla CEO Elon Musk was asked about when the next-gen Roadster would be available during today’s earnings call, and his answer left much to be desired. On Tesla’s Q2 earnings call in July, Musk was asked when the Tesla Roadster is coming. He responded that the vehicle would go into production in 2025, the latest
Elon Musk finally admits Tesla’s HW3 might not support full self-driving and that he doesn’t actually know what it will take. Millions of Tesla vehicles are equipped with HW3 computers. For the better part of the year, we have been reporting that Tesla can’t achieve its promise of “full self-driving on HW3, and it needs
Tesla (TSLA) released its financial results and shareholders letter for the third quarter (Q3) of 2024 after market close today. We are updating this post with all the details from the financial results, shareholders’ letter, and the conference call later tonight. Refresh for the latest information. Tesla Q3 2024 earnings expectations As we reported in our
With the release of its financial results for Q3 2024, Tesla (TSLA) is predicting a record fourth quarter – a rare prediction for the automaker. Tesla missed revenue expectations by about $300 million last quarter, but it did beat earnings per share by $0.12 with an EPS of $0.72 – thanks to higher-than-expected margins last quarter.
Tesla said today that it remains on track to produce and launch “more affordable models” in the first half of next year, but it shared no new details on when we might expect to hear more. For several years now, Tesla has been teasing everyone with the promise of more affordable models. While the Tesla
Tesla has confirmed that it produced its 7 millionth electric car yesterday — a great milestone for a company that greatly accelerated the electrification of the auto industry. Tesla produced its millionth vehicle back in early 2020 after 16 years of existence. In the next 4 years, it managed to produce 6 million more electric
As many rivals are being squeezed out of China by low-cost EVs, Hyundai has a plan to fend off the competition. According to a new report, Hyundai is pouring resources into launching its first dedicated EV in China, due out next year. Although electric vehicle sales continue climbing in China, the largest EV market globally,
Ford CEO Jim Farley has been driving a Chinese EV over the past six months, calling it “fantastic.” After flying the Xiaomi Speed Ultra 7 (SU7) from Shanghai to Chicago, Farley doesn’t want to give it up. It’s no secret that China is dominating the EV industry, aside from Tesla. Farley recently sounded the alarm,
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