Commodity Channel Index
|Bid||24.35 x 1100|
|Ask||24.45 x 800|
|Day's Range||23.33 - 24.40|
|52 Week Range||14.33 - 41.90|
|Beta (5Y Monthly)||1.42|
|PE Ratio (TTM)||7.48|
|Earnings Date||Jul 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar 05, 2020|
|1y Target Est||36.94|
The government is deciding who the winners among individual companies are and giving losers another chance. It feels strange and new, even if what it’s spending is peanuts compared with the dollars it’s tossing around elsewhere.
From stay-at-home orders to manufacturing shutdowns, the auto industry had a rough start to the year.
Yahoo Finance checks in with Carvana founder and CEO Ernie Garcia on car buying demand amidst the COVID-19 pandemic.
Tesla CEO Elon Musk reiterated Thursday that the world's newly crowned most valuable automaker could develop a fully self-driving car by 2020. Tesla stock climbed 2.1%.
For investors who have watched COVID-19 put the global automotive industry through pain, whether it's suppliers, manufacturers, dealerships, or many others, there's a glimmer of hope that automakers could recover from China's slump sooner than originally believed. Ford sold nearly 159,000 vehicles during the second quarter. Ford's transit commercial vehicles grew 60.9% compared to the prior year, and Lincoln luxury vehicles gained 12%.
(Bloomberg) -- Tesla Inc.’s Elon Musk said the carmaker is on the verge of developing technology to render its vehicles fully capable of driving themselves, repeating a claim he’s made for years but been unable to achieve.The chief executive officer has long offered exuberant takes on the capabilities of Tesla cars, even going so far as to start charging customers thousands of dollars for a “Full Self Driving” feature in 2016. Years later, Tesla still requires users of its Autopilot system to be fully attentive and ready to take over the task of driving at any time.Tesla’s mixed messages have drawn controversy and regulatory scrutiny. In 2018, the company blamed a driver who died after crashing a Model X while using Autopilot for not paying attention to the road. Documents made public last year showed the National Highway Traffic Safety Administration had issued multiple subpoenas for information about crashes involving Tesla vehicles, suggesting the agency may have been preparing a formal investigation of Autopilot.Read more: Businessweek’s October 2019 cover story on Tesla AutopilotWhile other self-driving developers have tempered expectations for when their technology will be ready for deployment, Musk is undeterred. He said in a prerecorded video played Thursday during the World AI Conference in Shanghai that Tesla is “very close” to level five autonomy, meaning its cars won’t require human intervention.“I remain confident that we will have the basic functionality for level five autonomy complete this year,” Musk said. “I think there are no fundamental challenges remaining for level five autonomy. There are many small problems, and then there’s the challenge of solving all those small problems and then putting the whole system together, and just keep addressing the long tail of problems.”Shares of Tesla rose as much as 3.1% to $1,408.56 in early New York trading on Thursday.Musk’s view contrasts with Alphabet Inc.’s Waymo, which recently acknowledged it will be relying on human safety drivers to back up its robotaxis for many years to come. General Motors Co.’s Cruise last year backed off plans to make autonomous vehicles available for hailing rides and hasn’t set a new timetable for when such a service will be ready.Related: The State of the Self-Driving Car Race 2020Musk, 49, has repeatedly described autonomous driving as transformative for Tesla. He’s not alone in this sense: Cruise CEO Dan Ammann has estimated there will be a $1 trillion addressable market in the U.S. for autonomous ride hailing.During Thursday’s video, Musk said that original engineering on Tesla technology is an important facet of the company’s operations in China, which are anchored by its massive new factory near Shanghai.(Updates with shares in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A federal judge on Wednesday threw out a racketeering lawsuit General Motors Co had filed against smaller rival Fiat Chrysler Automobiles NV, saying the No. 1 U.S. automaker's alleged injuries were not caused by FCA's alleged violations. GM officials said in statement they "strongly disagree" with the order by U.S. District Court Judge Paul Borman, whom the automaker had sought to have removed from the case, and would appeal. "There is more than enough evidence from the guilty pleas of former FCA executives to conclude that the company engaged in racketeering, our complaint was timely and showed in detail how their multi-million dollar bribes caused direct harm to GM," GM said in a statement.
The White House CEO dinner on Wednesday evening with Mexican President Andres Manuel Lopez Obrador will have some notable absences among corporate invitees - one because of a positive coronavirus test. American Farm Bureau President Zippy Duvall tested positive for COVID-19 on Wednesday morning, after he experienced a fever and a cough, and will not attend the dinner, a spokeswoman for the trade group said. The dinner, in the White House's East Room, is the most prominent state-level social event hosted by the Trump administration since coronavirus lockdowns began in March.
A federal judge in Detroit has dismissed General Motors’ lawsuit alleging that rival Fiat Chrysler paid off union leaders to get better contract terms than GM.
General Motors Co. (NYSE: GM) will announce its second quarter 2020 financial results on Wednesday, July 29, at approximately 8 a.m. EDT.
If you are looking for the best ideas for your portfolio you may want to consider some of Greenlight Capital's top stock picks. Greenlight Capital, an investment management firm, is bullish on General Motors Co (NYSE:GM) stock. In its Q4 2019 investor letter – you can download a copy here – the firm discussed its […]
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]
The National Highway Traffic Safety Administration (NHTSA) said the investigation, which was opened on Sunday, covers more than 614,000 vehicles from 2008 to 2010 model years. "The fuel leaks are the result of corrosion of the metal fuel lines underneath the vehicle towards the rear and in the vicinity of the left rear wheel well," the regulator said after it received 208 complaints of fuel leaks from vehicle owners.
U.S. auto safety regulator on Tuesday disclosed it has opened an investigation into complaints of fuel leaks in older Chevrolet Cobalt compact cars and HHR wagons, manufactured by General Motors Co. The National Highway Traffic Safety Administration (NHTSA) said the investigation, which was opened on Sunday, covers more than 614,000 vehicles from 2008 to 2010 model years. "The fuel leaks are the result of corrosion of the metal fuel lines underneath the vehicle towards the rear and in the vicinity of the left rear wheel well," the regulator said after it received 208 complaints of fuel leaks from vehicle owners.
The Sixth U.S. Circuit Court of Appeals said U.S. District Judge Paul Borman abused his discretion by requiring GM CEO Mary Barra and FCA's head, Mike Manley, to meet face-to-face for reasons unrelated to the case, and without taking into account the risks of travel during the COVID-19 pandemic. The district judge's order for the parties to report back to the court in only eight days was also unwarranted, the appeals court said.
An appeals court on Monday said the CEOs of General Motors and Fiat Chrysler don’t have to meet to settle a lawsuit between the two automakers.
While General Motors' (GM) defense arm secures contracts worth $223 million to manufacture infantry squad vehicle, Ford (F) ties up with Disney for the launch of its Bronco SUV.
Tesla stock is on the move again as Wall Street plays a game of leap frog, raising its target prices for shares to keep up with the highflying electric vehicle pioneer.
Ford Motor's China ventures reported year-on-year sales growth for June as the world's biggest auto market continues to recover from coronavirus-induced lows. Ford's new SUV models including Escape, Edge and Explorer are selling well and contributed to growth in past months, it said in a statement. Jiangling Motors Corp (JMC), in which Ford owns a stake, said in a filing last week that it sold 39,192 vehicles last month, up 67% year on year.