AUTO

Tesla plays ‘whack-a-mole’ with snags as deliveries fall for first time in two years

July 5 (Reuters) – Tesla Inc (TSLA.O) faces a series of hurdles rising from production snags to inflation that may hit profits, Wall Street analysts said on Tuesday, as the electric-car maker reported a fall in deliveries for the first time in two years. Stung by China’s COVID-19 lockdowns and soaring costs, Tesla said on …

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German road traffic agency says 59,000 Tesla vehicles have software glitch

FRANKFURT, July 3 (Reuters) – Germany’s road traffic agency said it was recalling Tesla (TSLA.O) models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 vehicles globally. The KBA watchdog said on its website dated June 29 that a software flaw was causing a breakdown of the eCall, …

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Chip stocks hammered as Micron forecast signals waning demand

July 1 (Reuters) – A handful of chipmakers including Micron and AMD have signaled waning demand as red-hot inflation squeezes spending, even as it eases a two-year global semiconductor shortage that has hit production of everything from cars to smartphones. Chip stocks across the world tumbled on Friday after memory chip maker Micron Technology Inc …

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GM vehicle sales tumble 15% as chip crunch, supply snags drag

July 1 (Reuters) – General Motors Co (GM.N) reported a 15% drop in second-quarter auto sales on Friday, as a global chip shortage and supply chain disruptions hit production and left nearly 100,000 vehicles waiting for more parts. The US auto industry is struggling to keep up with pent-up consumer demand for new cars as …

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GM calls off plan to sell India car plant to China’s Great Wall

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, US, March 16, 2021. REUTERS/Rebecca Cook/File Photo Register now for FREE unlimited access to Reuters.com register NEW DELHI/SHANGHAI, July 1 (Reuters) – General Motors (GM) (GM.N) said on Friday it had called off the sale of a shuttered …

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Tesla’s run of record deliveries may be reaching the end of the road

Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS Register now for FREE unlimited access to Reuters.com register SAN FRANCISCO, June 30 (Reuters) – Tesla Inc (TSLA.O) is expected to end its nearly two-year-long run of record …

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Ferrari to churn out gas guzzlers on its slow road to electric

MARANELLO, Italy, June 30 (Reuters) – Ferrari (RACE.MI) makes some of the fastest cars on the road, but the luxury Italian automaker is taking the slow lane to an electric future as it tries to overcome the technology’s disadvantages against today’s powerful fossil fuel engines. At an investor day this month, executives promised a new …

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S&P 500 closes the book on its biggest first-half plunge since 1970

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, June 22, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com register NEW YORK, June 30 (Reuters) – Wall Street ended the session lower on Thursday, crossing the finish line of a grim month and …

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VW: EV battery output bigger challenge than EU combustion engine ban

The fully electric VW ID Buzz, is pictured on a production line at a Volkswagen Commercial Vehicle plant in Hanover, Germany, June 16, 2022. REUTERS/Fabian Bimmer/File Photo Register now for FREE unlimited access to Reuters.com register MUNICH, June 29 (Reuters) – The EU deal to phase out combustion engine cars in just over 12 years …

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S&P 500 limps to slightly lower close as quarter-end looms

US economy contracted in Q1; consumer spending revised lower General Mills rises as sales beat on higher prices Bed Bath & Beyond replaces CEO, shares tumble Dow up 0.27%, S&P down 0.07%, Nasdaq off 0.03% NEW YORK, June 29 (Reuters) – The S&P 500 ended a seesaw session slightly down on Wednesday as investors staggered …

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