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[ad_1] A Tesla Model 3 vehicle on an auto carrier in front of a store in Rocklin, California, July 21, 2021. David Paul Morris | Bloomberg | Getty Images Tesla shares dropped 5% Friday after the electric car company cut prices on some models in the U.S. and reduced the price for its premium driver assistance software. The stock closed at $245.01. It's still up almost 100% this year after gaining 2.7% for the week. While Tesla CEO Elon Musk has said in the past that the price of Tesla's premium driver assistance option, marketed as Full Self-Driving software, would only ever go up, the company cut the price by $3,000 from $15,000 in the U.S. for customers who purchase it upfront rather than through a monthly subscription. Subscribers pay between $99 and $199 per month, depending on whether they're upgrading from a standard or other premium version. Tesla is also cutting prices for inventory vehicles in the U.S., including its entry-level Model 3 sedan, luxury Model S ...

[ad_1] 2025 Cadillac Escalade V-Series SUV Cadillac DETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 model year. The new SUV features a standard 55-inch diagonal display across the dash, including a passenger-only screen; an "executive package" for the second row; power doors; large 24-inch wheels; and other enhancements. "The Escalade has always been about bold American craftsmanship, technology and performance, and has continuously raised the standard of full-size SUV luxury since it was introduced 25 years ago," said John Roth, vice president of Cadillac, in a release. The Escalade is a crucial vehicle for Cadillac — as well as brand parent GM — as the highly profitable flagship of the company's large SUV lineup. GM has led in U.S. market share of full-size SUVs for decades. 2025 Cadillac Escalade Cadillac Many of the design tweaks for the 2025 mode...

[ad_1] The 2025 Chevrolet Equinox RS. Chevrolet DETROIT — General Motors is redesigning its gas-powered Chevrolet Equinox crossover to look more rugged than its predecessors in an attempt to move the vehicle upmarket and attract new buyers. The 2025 Equinox, which GM revealed Tuesday, will feature additional standard safety and convenience features. Brad Franz, director of Chevy car and crossover marketing, said the changes to the Equinox are meant to boost the appeal of the vehicle, which GM introduced about 20 years ago. The compact crossover has grown to be among GM's best-selling vehicles. "It's critically important for us to be introducing this product right now. We feel it's going to be just as important, if not more, than [before]," he said. "We still expect it to be the No. 2 Chevy volume vehicle and, frankly, it plays in the biggest segment in the industry at 22% [market share]. We don't see that declining." Sales of the Equinox have b...

[ad_1] 2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package. DETROIT — General Motors' newest Chevrolet Corvette will be the most powerful version of the American sports car ever produced — and it's not even close. The Detroit automaker said Thursday the 2025 Chevy Corvette ZR1 will be powered by a twin-turbocharged, 5.5-liter, V8 engine capable of more than 1,000 horsepower — a first for Corvette — and 828 foot-pounds of torque, placing it among the ranks of supercars that can cost hundreds of thousands of dollars. "This thing pulls like a freight train," Tadge Juechter, Corvette's executive chief engineer since 2006, said during a media event. "We expect this car to be essentially the fastest car we've ever built by a long measure." The prior most-powerful Corvette was GM's last ZR1 for the 2019 model year. It produced 755 horsepower and 715 foot-pounds of torque with a 6.2-liter, V8 supercharged engine. 2025 Chevrolet Corvette ...

[ad_1] 2025 Ram 1500 Ramcharger Tungsten Ram DETROIT — Automaker Stellantis plans to produce an industry-first electric pickup truck called the Ram 1500 Ramcharger that's equipped with an electric generator and a gas engine. If that sounds like an oxymoron, here's how it works: The truck can operate as a zero-emissions EV until its battery dies and an electric onboard generator — powered by a 27-gallon, 3.6-liter V6 engine — kicks on to power the vehicle. The outcome is a truck with the benefits of an EV, such as fast acceleration and some zero-emissions driving, without the range anxiety synonymous with most current electric vehicles, according to Ram CEO Tim Kuniskis. "This is the ultimate answer for the battery-electric truck. No one else has got anything else like it," Kuniskis told reporters during an event. "This is going to be a game changer for battery-electric trucks." The 2025 Ram 1500 Ramcharger is expected to go on sale in late 2024 alongsi...

[ad_1] 2024 Jeep Wagoneer S EV Jeep NEW YORK – The first all-electric Jeep SUV for the U.S. will be the 2024 Wagoneer S, starting at about $72,000 when it's scheduled to go on sale this fall. The Stellantis -owned brand revealed the vehicle and pricing Thursday, portraying it as a "new chapter" for the quintessential American SUV brand that has struggled with domestic sales in recent years. "This represents a lot. It is the first global [all-electric vehicle] built in North America, designed in the U.S. ... for the world," Jeep CEO Antonio Filosa told CNBC during an interview after revealing the vehicle. "It is a milestone in our history." Filosa, who started leading Jeep in December, said the brand is in "fantastic shape" but it's in the midst of a "transition like all the automotive brands nowadays" involving electrification. Despite a slower than expected adoption of EVs in the U.S., Filosa said the brand is not worried ...

[ad_1] 2024 Ford Mustang Source: Ford DETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who've been drawn to the performance vehicles. The optimism comes after Mustang's closest American competitors ended production of their muscle cars in December. General Motors stopped producing the Chevrolet Camaro, and Stellantis ended production of its Dodge Challenger V8 ahead of a new all-electric muscle car later this year, followed by gas-powered models with twin-turbo, inline-six engines that are expected in 2025. Their exodus (and that of others in the muscle car market) is the result of changing consumer demand away from two-door cars, as well as tightening fuel economy standards and the emergence of all-electric vehicles capable of unrivaled acceleration. Jeff Marentic, general manager of Ford Blue products, which includes the Mustang, said the pony car ...

[ad_1] A Tesla showroom is seen in the City Center shopping center on January 17, 2023 in Washington, DC. Anna Moneymaker | Getty Images DETROIT — Tesla vehicles in the U.S. are seeing significant price cuts, and that's proving to be a double-edged sword for the electric carmaker and the greater automotive industry. Tesla earlier this month slashed prices of its new cars by as much as 20% , making the vehicles more affordable and likely eligible for federal tax credits . But it also tanks the resale values of cars for current owners and is sending ripple effects through the auto industry. related investing news CEO Elon Musk hasn't directly addressed the price cuts, which are counterintuitive to his claims that the company's cars will be appreciating assets — a rarity for the market aside from classics and collectible vehicles. Analysts say the price cuts suggest Tesla is prioritizing sales over profits, potentially signaling a demand problem. "There's deman...

[ad_1] A United Auto Workers member on a picket line outside the Ford Motor Co. Michigan Assembly plant in Wayne, Michigan, on Sept. 15, 2023. Bloomberg | Bloomberg | Getty Images The Biden administration is no longer sending two key officials to Detroit this week to potentially help broker a deal between striking autoworkers and the Big Three car companies, a White House official told NBC News. President Joe Biden last week said he would dispatch White House senior advisor Gene Sperling and acting Labor Secretary Julie Su to support discussions between the companies and the United Auto Workers union. But the White House and the UAW mutually agreed it would be better to speak virtually via Zoom, the official said Tuesday. Sperling and Su could still go to Detroit next week but there are no firm plans for them to do so, the official added. "We'll continue to assess travel timing based on the active state of negotiations," the White House official said. Biden large...

[ad_1] Lana Payne celebrates on stage as Unifor, Canada's largest private-sector union, announce Payne as their new president to replace outgoing leader Jerry Dias in Toronto, Ontario, Canada, Aug. 10, 2022. Cole Burston | Reuters DETROIT — Canadian union Unifor and Stellantis have reached a tentative agreement early Monday morning, ending a brief strike that began after a deal wasn't reached by 11:59 p.m. Sunday. The Canadian work stoppage involved more than 8,200 autoworkers at several facilities in the Canadian province of Ontario, including two large assembly plants that produce the Chrysler 300 sedan and Pacifica minivan and the Dodge Challenger and Charger muscle cars. The strike and tentative deal, which must still be ratified by union members, occurred two days after Stellantis reached a tentative deal for about 43,000 U.S. autoworkers with the United Auto Workers union after roughly six weeks of targeted strikes that began Sept. 15. Details of the tentative ag...

[ad_1] Akio Toyoda, president and CEO of Toyota Motor Corp. Kiyoshi Ota | Bloomberg | Getty Images DETROIT – Toyota Motor stock sealed its best week since 2009 on Friday, as the automaker laid out a robust plan for future all-electric vehicles and company scion Akio Toyoda became leader of the Japanese company's board. Shares of Toyota on the New York Stock Exchange closed Friday at $164.35 per share, down 2.3% for the day but still up 10.6% on the week. That 5-day gain is the stock's best week since April 2009 when shares increased 14.5%. Such a rally is not typical for the stock. It's only the third double-digit weekly gain in more than two decades for the relatively well-performing but mundane stock. Shares of the company are up 20% so far in 2023. The positive uptick this year comes as recent supply chain problems ease for the automotive industry, including Toyota, and after Toyoda, grandson of the company's founder, announced plans to transition from CEO to ...

[ad_1] Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Bill Pugliano | Getty Images News | Getty Images DETROIT – U.S. lawmakers are seeking to review a licensing deal between Ford Motor and China-based CATL that would allow the automaker to produce battery cells developed by the global supplier at a planned $3.5 billion plant in Michigan. In a letter Thursday addressed to Ford CEO Jim Farley, chairs of the House Select Committee on the Chinese Communist Party (CCP) and the House Ways and Means Committee demanded the automaker provide a copy of the licensing agreement and any communication about the deal between the two companies as well as between Ford and the Biden administration regarding any potential tax credits. The ...

[ad_1] U.S. President Joe Biden puts on a t-shirt of the UAW Local 1268 during a United Auto Workers (UAW) union members meeting, in Belvidere, Illinois, U.S., November 9, 2023.  Leah Millis | Reuters DETROIT – President Joe Biden said Thursday that all autoworkers deserve contracts like the ones recently won by the United Auto Workers from General Motors , Ford Motor and Chrysler-parent Stellantis . Biden, wearing a red UAW T-shirt given to him by a local union leader, said the deals won by UAW negotiators are "game changers" that set a "new standard" for blue-collar workers. The deals include 25% wage increases, including 11% upon ratification; reinstatement of cost-of-living adjustments; additional contributions for retirees; billions in new investments; and other benefits. The tentative deals must still be ratified by union members; voting is ongoing. "I'm a little selfish, I want this type of contract for all autoworkers," Biden said during ...