auto

China’s Ministry of Commerce and General Administration of Customs announced Friday that it will begin restricting exports of graphite, a key component of electric vehicle batteries. What Happened: Many EV companies, including Tesla, traded lower Friday, potentially on the news from...

General Motors (NYSE:GM) has put forward a proposal for the United Auto Workers members during an ongoing strike that has stretched on for over three weeks. The centerpiece of GM’s offer, which it announced Monday, is a 20% wage hike spread over the contract’s duration, which would...

Hyundai Motor Co (OTCPK: HYMTF) cut the minimum asking price for its to-be-divested auto plant in China.   The South Korean automaker has curtailed the price of the plant, located in the southwestern city of Chongqing, by around 30% to 2.58 billion yuan ($353.38 million), as per...

President Joe Biden made history on Tuesday by becoming the first sitting U.S. president to join a picket line during a major strike. What Happened: The 46th U.S. president traveled to Michigan to show support for the United Auto Workers (UAW), which is striking all three major Detroit motor...

The Federal Open Market Committee meeting dominated the markets this week, with the Fed deciding to leave rates unchanged at 5.25%-5.5%, as widely expected. Dot Plot Indicates 1 More Rate Hike, Fewer Cuts in 2024: The median preference for the projected fed funds rate at the end of 2023 held...

The United Auto Workers announced an expansion of strikes at 38 locations across 20 states Friday. These strikes are predominantly focused on parts and distribution facilities for General Motors Co (NYSE:GM) and Stellantis NV (NYSE:STLA), according to UAW President Shawn Fain. Additional strikes at...

VinFast Auto Ltd. (NASDAQ: VFS) shares traded lower Thursday. In addition to shares of auto stocks being impacted by overall market weakness, the company also reported second-quarter earnings during market hours. What To Know: VinFast posted second-quarter earnings of a loss of 23 cents per share,...

Ford Motor Company (NYSE:F) could encounter further labor challenges as the Canadian union Unifor races against the clock to reach an agreement with the automaker before an extended deadline of 11:59 p.m. ET Tuesday. This situation has the potential to impact the production of certain pickup trucks...

Automaker Stellantis N.V. (NYSE:STLA)’s latest contract proposal to the United Auto Workers union threatens to shutter 18 U.S. facilities. The clash between the company and union leaders hinges on Stellantis’ vision of creating a “modernized” parts and distribution network,...

President Joe Biden on Friday addressed the ongoing strike by the United Auto Workers union against Detroit's three major automakers, urging both sides to negotiate further for a mutually beneficial agreement. Biden remarked about the significance of auto workers in the American...

UAW President Shawn Fain did not mince words in a Thursday pushback against General Motor Company’s (NYSE: GM) wage offer, branding it as "insulting" during tense negotiations between the United Auto Workers union and Detroit's automotive giants. What Happened: GM's offer...

Carvana Co. (NYSE:CVNA) has successfully ramped up its cash reserves by trimming costs. Yet the ongoing turbulence in the used car sector has Morgan Stanley analyst Adam Jonas pondering the sustainability of Carvana’s overarching strategy. Morgan Stanley Issues Mixed Signals On Carvana...

Ford Motor Company (NYSE: F) reportedly recalled 870,000 F-150 trucks in the United States Friday wing to the activation of the electric parking brake due to a possible wiring issue. The recall covers F-150 trucks from 2021 through 2023, Reuters reported, citing a filing with the...

Ford Motor Company (NYSE: F) is set to print its second-quarter financial results after the market close Thursday. The stock was popping up about 1.5% heading into the event. When the legacy-turning-electric vehicle manufacturer printed its first-quarter results on May 1, the stock shot up 2.4% at...

The alliance between Ford Motor Co (NYSE:F) and Contemporary Amperex Technology Co. Limited, CATL, has drawn the attention of two U.S. House of Representatives committees. The focal point of the investigation is Ford’s plan to construct a $3.5-billion battery facility in Michigan, utilizing...