BorgWarner Q1 profits take a hit from electrification R&D, inflation
BorgWarner Inc. executives are expecting a boom in the electrification business but not before e-products put some strain on its profitability. The supplier saw first-quarter sales of $4.2 billion, up 8 percent from a year ago, and net earnings of.....»»
Elon Musk sues OpenAI and Sam Altman, accusing them of chasing profits
OpenAI is now a "closed-source de facto subsidiary" of Microsoft, says lawsuit. Enlarge (credit: Anadolu Agency / Contributor | Anadolu) Elon Musk has sued OpenAI and its chief executive Sam Altman for breach of contract.....»»
Researcher: The true cost of food is far higher than what you spend at the checkout counter
After several years of pandemic-driven price spikes at the grocery store, retail food price inflation is slowing down. That's good news for consumers, especially those in low-income households, who spend a proportionally larger share of their income.....»»
McLaren’s F1-inspired hypercar to sport gullwing doors
McLaren’s path to electrification will include the combustion engine for the foreseeable future......»»
Higher AutoZone profits signal DIY trend gaining traction as vehicle costs rise
Demand for auto parts stayed resilient during the recent quarter as surging vehicle prices kept new- and used-car buyers on the sidelines......»»
Stellantis CEO Carlos Tavares" compensation jumps 56% to $40M
Tavares' 2023 pay included an $11 million transformation incentive to meet milestones tied to challenges the industry is facing on global mobility, technology and the electrification of vehicles......»»
Phinia sees upside of hybrid shift after BorgWarner spinoff
Just a half year into operations as a standalone company, Phinia appears poised to reap the benefits of automakers falling back to hybrids during a bumpy ramp up of electric vehicles......»»
Metal Prices Are Soaring. So Is Metal Theft
It’s a multi-billion-dollar global problem, and in a rapidly electrifying world, the profits—and ease—of stealing metals is only going to increase......»»
Q4 new-vehicle gross profits drop for big 6 public auto dealers
High interest rates, more expensive vehicles and a steadier post-pandemic supply chain are reducing new-vehicle gross profit, but it is still higher than pre-pandemic levels. That could change by year end......»»
GM may pivot to luxury to counter slump in China profits, Barra says
While GM still sees a role for itself in China’s increasingly competitive market, CEO Mary Barra says the company has to reverse a slide in sales and profits......»»
BorgWarner Q4 earnings, revenue improve, but EV pullback raises concerns
BorgWarner's earnings fell short of expectations, leaving investors with questions about the supplier’s exposure to EV programs......»»
Toyota market capitalization hits Japan record as stock surges
Toyota passes an impressive milestone in Japan, becoming the nation's first company to top the symbolic ¥50 trillion ($354.65 billion) market capitalization mark as investors rally behind record sales and profits driven by booming hybrid vehicles......»»
EV pullback hits BorgWarner revenue, earnings
Supplier BorgWarner's Earnings fell short of expectations, leaving investors with questions about the supplier’s exposure to EV programs......»»
Subaru lifts profit outlook as quarterly sales, earnings surge
Subaru profits surge in the latest quarter as U.S. sales climb, helping fill the Japanese automaker’s coffers for investment in electrification and other next-generation technologies......»»
Subaru lifts profit outlook as sales, earnings surge
Subaru profits surge in the latest quarter as U.S. sales climb, helping fill the Japanese automaker’s coffers for investment in electrification and other next-generation technologies......»»
Toyota invests $1.3 billion more into Kentucky plant for EVs
Toyota will add $1.3 billion into its massive Kentucky assembly plant to build battery assemblies for future EVs and support "future electrification efforts.".....»»
Lear generates higher profits and revenue, but EV backlog shrinks
Executives pointed to two main issues the company faces: wage inflation and EV uncertainty......»»
Toyota may slow production after sprinting to records in latest quarter
Toyota cut its annual global sales forecast, largely due to the suspension of shipments from Daihatsu, but still expects to book record profits......»»
Toyota may slow production after sprinting to records
Toyota cut its annual global sales forecast, largely due to the suspension of shipments from Daihatsu, but still expects to book record profits......»»
Why is boat company Brunswick attracting so many automotive people?
The quest for autonomy and electrification is spilling over into the marine industry, and auto managers are providing the expertise......»»
Two-thirds of Canadian and American renters are in unaffordable housing situations
Even as housing markets cool in some areas, housing affordability in Canada is the worst in over four decades due, in part, to sustained post-pandemic inflation and comparatively higher interest rates......»»