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Lucid Motors slashed its 2025 production forecast to 18,000 vehicles on Wednesday, marking the second consecutive cut in three months as the Saudi-backed luxury EV maker struggles with supply chain disruptions and collapsing post-tax-credit demand. Interim CEO Marc Winterhoff told Reuters the company would hit the lower end of its August guidance range of 18,000-20,000…
U.S. motor vehicle sales plummeted in October 2025 as the elimination of federal EV tax credits sent electric vehicle demand into freefall and broader economic uncertainty kept car shoppers away from dealerships. The data reveals the immediate aftermath of one of the most significant policy shifts in American automotive history. Light vehicle sales decreased 6.5%…
Automakers shipping vehicles to the United States could face $200 to $300 per vehicle in additional costs, the CEO of major car carrier Wallenius Wilhelmsen warned Wednesday, as the company moves to pass new U.S. port fees onto customers. The announcement comes despite a late-October trade agreement between Presidents Trump and Xi that was supposed…
Tesla shareholders face an unprecedented decision Thursday as they vote on CEO Elon Musk’s nearly $1 trillion compensation package—with Board Chair Robyn Denholm warning that rejecting it could trigger Musk’s departure and send the company’s stock into freefall. The vote, taking place at Tesla’s annual meeting on November 6, has divided major institutional investors and…
Rivian Automotive posted better-than-expected third-quarter earnings Tuesday, reporting a narrowed adjusted loss and positive gross profit for the second time this year. But the electric vehicle maker’s stock surge couldn’t mask the harsh reality waiting just beyond the quarterly numbers: October EV sales plummeted 43% compared to the same month last year, according to automotive…
Tesla’s China-made electric vehicle sales fell 9.9% year-over-year in October 2025 to 61,497 units, reversing a brief September uptick and signaling renewed struggles in the world’s largest EV market. The decline, reported by the China Passenger Car Association, marks a troubling return to the downward trajectory that plagued the automaker for eight consecutive months earlier…
Li Auto is recalling 11,411 of its flagship Mega multi-purpose electric vehicles in China following a dramatic battery fire in Shanghai on October 23, 2025, according to Bloomberg. The recall covers all 2024 Mega models produced between February 18, 2024, and December 27, 2024, citing a coolant defect that could trigger thermal runaway in the…
Volkswagen has secured 2.3 billion reais ($425.62 million) in credit lines from Brazil’s state development bank BNDES to accelerate hybrid vehicle development across South America, according to Reuters. The German automaker announced Friday it will use the financing to offer hybrid versions of all new vehicles developed and manufactured in the region starting in 2026.…
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