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Toyota joins Tesla and GM in losing federal electric vehicle tax credits

A Toyota bZ4X on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC Toyota Motor said it sold its 200,000th plug-in electric vehicle during the second quarter, triggering a phase out of US tax credits up to $7,500 for people who buy the cars. The Japanese automaker joins Tesla and …

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VW and Goldman-backed Northvolt gets $1.1 billion funding

Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Michael Sjoberg | Bloomberg | Getty Images Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and …

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Luxury car buyers pay more than ever as prices and loan costs rise

If you can even find a new car to buy, actually purchasing it is going to cost you. “It’s a really difficult time to buy a car,” said Jessica Caldwell, executive director of insights for Edmunds. Limited inventory due to a persistent shortage of computer chips, along with other supply-chain challenges, helped propel new car …

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Ford (F) Q2 2022 US sales

Electric Ford F-150 Lightning Andrew Evers/CNBC DETROIT – Ford Motor on Tuesday reported a slight increase in second-quarter new vehicle sales that missed the expectations of automotive analysts. Ford said second-quarter sales rose 1.8% compared to a year earlier, including a 31.5% increase in June. Analysts expected the Detroit automaker’s sales to increase between 3.3% …

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Tesla (TSLA) Q2 2022 vehicle delivery and production numbers

A giant cowboy boot is on display outside the Tesla Giga Texas manufacturing facility during the “Cyber ​​Rodeo” grand opening party on April 7, 2022 in Austin, Texas. Suzanne Cordeiro | AFP | Getty Images Tesla just posted its second-quarter vehicle production and delivery numbers for 2022. Here are the key numbers: Total deliveries Q2 …

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Self-driving cars from GM’s Cruise block San Francisco intersection

A robot car of the General Motors subsidiary Cruise is on a test drive. Andrej Sokolow | picture alliance | Getty Images Automotive and tech executives have long promised that autonomous vehicles would drive better than humans, but that wasn’t the case for a fleet of Cruise cars in San Francisco this week. The company, …

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There’s a massive pile-up of car, furniture exports bound for US

Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the US that will take months to clear out. According to the bills of lading found through ImportGenius, some of the items that are exported out of these ports are critical components to the auto …

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GM expects Q2 net income of between $1.6 billion and $1.9 billion

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors on Friday warned investors that supply chain issues would materially impact its second quarter earnings, while maintaining …

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General Motors (GM) Q2 2022 US sales

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors’ US vehicle sales were down about 15% in the second quarter from a year ago as the automaker continues to battle supply chain issues, but showed improvement from …

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Elon Musk is a smart person but he doesn’t understand ESG: Tech CEO

In May, electric-vehicle maker Tesla was removed from the S&P 500’s ESG Index. In response, CEO Elon Musk tweeted that ESG was “a scam” that had been “been weaponized by phony social justice warriors.” Jim Watson | AFP | Getty Images Tesla chief Elon Musk may have misunderstood the meaning behind ESG (environmental, social, and …

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