automotive news data center

Rivian’s stock rallies to highest in 2023 after posting strong deliveriesRivian’s stock rallies to highest in 2023 after posting strong deliveries

July 9, 2023| 5:05 am

NEW YORK, July 7 (Reuters) – Shares of Rivian Automotive (RIVN.O) surged more than 18% on Friday as it continued to rally after the electric vehicle (EV) maker reported better-than-expected quarterly deliveries early this week. Rivian said on Monday it delivered 12,640 vehicles in the second quarter on steady demand from customers, beating market estimates. That result was in line with that of market leader Tesla Inc (TSLA.O), which on Sunday reported a record quarterly vehicle deliveries fueled by incentives such as price cuts and US federal credits. The shares of several EV makers have risen since last week on… [...]

Lithium iron phosphate curbs the battery gap with nickel, cobaltLithium iron phosphate curbs the battery gap with nickel, cobalt

June 28, 2023| 3:14 am

Battery expert Lukasz Bednarski, author of the 2021 book “Lithium: The Global Race for Battery Dominance and the New Energy Revolution,” believes automakers’ interest in building lower-priced EVs could be one of the drivers behind LFP’s rising popularity. “LFP provides good enough performance at a lower cost, which makes it an attractive proposition for EVs for the middle class,” he said. Bednarski added that the US Inflation Reduction Act (IRA) provides incentives “for the development of the whole battery chain (with no) preference for LFP chemistry.” Rising investment in LFP manufacturing facilities in the United States is coming not just… [...]

Should You Use Insurance to Replace Your Windshield: Yes or No?Should You Use Insurance to Replace Your Windshield: Yes or No?

June 6, 2023| 7:10 pm

It’s likely what happened to you before: a chipped or cracked windshield. Unfortunately, this type of issue generally occurs quickly, and without any warning. In addition, chips, cracks and breaks can be big, small, easy to fix or very expensive to repair. Each situation is different and calls for a specific action. It’s important to remember that when you experience windshield damage, seek professional automotive assistance as soon as possible. Not only is it extremely unsafe for you (and others on the road) to drive a car with a windshield that has been impaired, but small chips [...]

How it stacks up against GM and FordHow it stacks up against GM and Ford

June 4, 2023| 2:47 pm

There are very few women at the wheels of Tesla. Detailed data about the demographics of Tesla’s workforce released for the first time this week shows men vastly outnumber women at the upper levels of billionaire Elon Musk’s electric car manufacturer. Men held 8 out of 10 executive jobs and nearly 7 out of 10 management jobs at Tesla in 2021, the most recent data available. Those figures were comparable to other major car manufacturers, according to a USA TODAY analysis. At Ford, 74% of executives were men and at General Motors, 79%. Women of color were the least represented… [...]

May sales up 13%, but remain well below pre-pandemic numbersMay sales up 13%, but remain well below pre-pandemic numbers

June 2, 2023| 9:42 pm

May marked just the second month of this year in which sales were up over 2021 totals, which were higher than 2022 totals in all but November and December of last year. DAC said that historically, May was more often than not the strongest sales month of the year over the previous decade. It took the sales crown eight times between 2010 and 2019. “The last three years have seen very different sales patterns, however, with the first the pandemic and then the semiconductor shortage, meaning that the traditional spring selling season failed to materialize,” the consultancy said in a… [...]

Gentex auto supplier hit by ransomware attackGentex auto supplier hit by ransomware attack

May 25, 2023| 7:48 pm

According to TechTarget, a Dunghill operator reached out with a link to what the group claims is 5 terabytes of sensitive corporate data from Gentex, including client documents and personal employee information. The report indicated Dunghill posted the stolen information on the dark web as well as shared data with unspecified foreign and domestic manufacturers after Gentex “refused to cooperate.” Threats against companies in the manufacturing industry have become more prevalent and more costly as of late. According to an annual report from IBM, the cost of a data breach for the industrial sector — which includes chemical, engineering [...]

April sales up 2.3% but still below pre-pandemic levelsApril sales up 2.3% but still below pre-pandemic levels

May 8, 2023| 4:26 pm

New light-vehicle sales in April were up 2.3 per cent compared with the same period last year, but still below pre-pandemic levels, at an estimated 144,069 units compared with 180,616 in April 2019, according to DesRosiers Automotive Consultants. Sales in April were also slightly below March. All figures are estimates now that the vast majority of automakers report sales on only a quarterly basis. DesRosiers managing partner Andrew King said in a statement that the seasonally adjusted annual rate of sales for April was 1.48 million units. King says that’s easily the weakest reading so far in 2023, and a… [...]

Tesla will shoot for volume over profit: Elon MuskTesla will shoot for volume over profit: Elon Musk

May 1, 2023| 3:14 pm

Tesla missed market estimates for first-quarter total gross margin after cutting prices in the US and globally. The electric vehicle maker reported a total gross margin of 19 percent, compared with an expectation of 22 percent from analysts polled by Refinitiv, Reuters reported. Net income during the most recent period dropped 24 percent to $2.5 billion. Tesla reported global deliveries of 422,875 in the first quarter, a 4.3 percent increase compared with the previous quarter. That small growth suggests price cuts were necessary to maintain momentum amid rising EV competition and higher interest rates. The EV maker likely sold 161,630… [...]

Guide to Windshield Replacement in ArizonaGuide to Windshield Replacement in Arizona

March 26, 2023| 3:12 pm

Many drivers think they will be perfectly safe driving around with a crack or chip in their windshield, this often isn’t the case. Any obstruction in the windshield can result in unsafe driving conditions and could ultimately cause an accident. Because chips and cracks are prone to spreading over time, especially when exposed to the extreme weather conditions typically found in Arizona, it’s essential to consider windshield replacement, especially if the situation cannot be resolved with an auto glass repair. While this is a simple process, many people wonder if they really need to replace their windshield [...]

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