Electric-vehicle maker Polestar told CNBC Thursday that “range anxiety” has been replaced by “pump anxiety,” amid worries around a Middle East crisis that has global energy prices soaring. “People are concerned, ‘how much do I pay at the gas station?’” Polestar CEO Michael Lohscheller told CNBC’s “Squawk Box Europe.” The company is seeing increased demand…
A Waymo vehicle exits a charging lot on Jan. 15, 2026 in Austin, Texas. Brandon Bell | Getty Images Waymo is recalling about 3,800 robotaxis in the U.S. to fix software issues that could allow them to “drive onto a flooded roadway,” according to a letter on the National Highway Traffic Safety Administration’s website. The…
Chinese electric vehicle brands Neta and Zeekr inflated sales in recent years to hit aggressive targets, with Neta doing so for more than 60,000 cars. Koiguo | Moment | Getty Images Bipartisan lawmakers from Michigan on Tuesday announced legislation that would ban Chinese-made “connected vehicles,” software and hardware from the U.S. market, ahead of President…
DETROIT — An ominous email about an oddly timed 15-minute virtual meeting. A scripted message from human resources. And an abrupt end to that meeting, as well as their job. That’s how several General Motors employees who were laid off Monday by the Detroit automaker described their jobs being terminated to CNBC. “No appreciation or…
The General Motors global headquarters in Detroit, Jan. 12, 2026. Jeff Kowalsky | Bloomberg | Getty Images DETROIT – General Motors is laying off hundreds of salaried employees in its information technology operations as the automaker reevaluates its workforce needs and cuts costs, CNBC has learned. The global reductions began Monday and will impact about…
Customers browse in a used car lot in Glendale, California, Feb. 15, 2023. Mario Tama | Getty Images News | Getty Images DETROIT — Used car prices fell in April for the first time since October as gas prices rose amid the Iran war. Cox Automotive’s Manheim Used Vehicle Value Index — which tracks prices…
Used cars are offered for sale at a dealership on July 11, 2023 in Chicago, Illinois. Scott Olson | Getty Images The head of one of the nation’s largest auto finance lenders isn’t overly concerned about rising consumer automotive debt and inflated used car prices leading to longer loans on vehicle purchases. His main reasoning?…
Toyota signage at the New York International Auto Show in New York City on April 2, 2026. Danielle DeVries | CNBC Japan’s Toyota Motor on Friday reported a 49% drop in fourth-quarter operating profit, missing analysts’ estimates as U.S. tariffs pressured earnings. Here are Toyota’s results compared with median estimates from LSEG: Revenue: 12.6 trillion yen vs. 12.6 trillion yen…
Uber reported first-quarter revenue on Wednesday that missed estimates, but the ride-hailing giant issued bookings guidance for the current quarter that exceeded analysts’ expectations. The stock jumped 8% following the earnings release. Here’s how the company did versus Wall Street’s expectations, according to estimates compiled by LSEG: Earnings per share: 13 cents vs. 70 cents expected Revenue: $13.2…
LONG BEACH, Calif. — As the global automotive industry retreats from all-electric vehicles after reporting billions of dollars in losses, Ford Motor continues to move forward with its next generation of EVs that CEO Jim Farley has described as industry-defining products. Ford’s push comes despite a massive slowdown in EV adoption, $19.5 billion in electric…
