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[ad_1] SpaceX, Twitter and electric car maker Tesla CEO Elon Musk looks on as he speaks during his visit at the Vivatech technology startups and innovation fair at the Porte de Versailles exhibition center in Paris, on June 16, 2023.  Alain Jocard | Afp | Getty Images Tesla reported earnings after the bell, showing a record for quarterly revenue but lower margins thanks to price cuts and incentives. The stock price remained flat after the initial report, but began dropping during the earnings call as CEO Elon Musk and other executives failed to deliver precise specs and start of delivery dates for the Cybertruck, and for a robotaxi-ready vehicle. Musk and other execs also said during the call that vehicle production would slow down during Q3 due to shutdowns for factory improvements. It's now down about 4% after hours. Here's how the company did versus expectations: Revenue: $24.93 billion, versus $24.47 billion expected according to Refinitiv. Earnings: 91 cents per s...

[ad_1] 2021 Dodge Durango SRT Hellcat Fiat Chrysler DETROIT – Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis' second-quarter U.S. new vehicle sales up 6.4% from a year earlier. The uptick is another sign of demand for new vehicles rebounding, as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems. Stellantis' sales increase is expected to be among the lowest of the second quarter, according to auto industry forecasters who project industry sales to have increased 16% to 18% during that time compared with a year earlier. "We saw increased demand this quarter as market conditions continue to improve and our dealer network makes the necessary adjustments to drive sales growth across our brand portfolios," Stellantis' U.S. head of sales, Jeff Kommor, said in a release Monday. Shares of Stellantis gained about 1.5% after the news. Sa...

[ad_1] People walk by electric truck maker Rivian's newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023 in New York City. Spencer Platt | Getty Images Shares of Rivian Automotive jumped 17.4% on Monday after the electric vehicle maker beat Wall Street expectations for quarterly deliveries. Rivian on Monday reported 12,640 vehicle deliveries during the second quarter, up 59% from the previous quarter and topping analyst expectations of 11,000 vehicles, according to estimates compiled by FactSet. The automaker, which makes electric R1T pickups and R1S SUVs for consumers, also reiterated its annual production target of 50,000 units. Rivian produced roughly 23,400 vehicles through the second quarter, including electric delivery vans and consumer models. The increase in the share price Monday pushes Rivian's stock into the green for the first time since late February. The stock is up about 5% in 2023. Rivian closed Monday at $19.56 per share – th...