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Evproduction

All articles tagged with #evproduction

business-and-economy2 years ago•6 min saved

"GM Retains US Sales Lead in 2023 Amidst Strikes and EV Hurdles as Pickups Dominate and Hyundai-Kia Surges"

General Motors (GM) retained its position as the top-selling automaker in the United States for 2023, with a 14% increase in sales despite a United Auto Workers (UAW) strike and production issues with its electric vehicles (EVs). GM sold 2.6 million vehicles, outpacing Toyota, which sold 2.3 million. The Chevrolet Bolt and Bolt EUV were GM's best-selling EVs, while new SUVs and pickups also drove sales. The UAW strike affected production, but GM still managed to increase its market share and is planning to launch new EV models and update its gasoline-powered lineup in 2024.

via Detroit Free Press|

##autosales #business-and-economy

business-and-finance2 years ago•1 min saved

"Rivian Q4 Deliveries Dip and Stock Declines as EV Performance Trails Behind Tesla"

Rivian's Q4 report showed a 10% drop in vehicle deliveries despite an increase in production, raising concerns about potential demand issues for its premium electric vehicles. The company's shares fell in pre-market trading as a result. While Rivian has not reduced prices despite the industry trend, continued delivery declines could force price cuts, impacting the company's already challenging profitability. Rivian's production costs remain high, with significant losses per vehicle built. However, the company did exceed its full-year production guidance for 2023 and plans to report fourth-quarter earnings on February 21.

via TechCrunch|

##automotiveindustry #business-and-finance

business-and-finance2 years ago•1 min saved

Rivian Q4 EV Deliveries Miss Mark, Stock Dips Despite Production Surge

Rivian Automotive's stock price dropped nearly 10% after the company reported a decrease in EV deliveries for the fourth quarter, despite an increase in production. Deliveries fell 10.2% from the third quarter, totaling 13,972 vehicles, which aligned with Wall Street expectations. However, Rivian's annual production exceeded its guidance, with 57,232 vehicles produced in 2023. The company's fourth-quarter earnings will be announced on February 21, contrasting with Tesla's strong delivery performance reported on the same day.

via CNBC|

##business-and-finance #electricvehicles