General Motors regained its spot as the biggest US carmaker by market capitalization Thursday, amid greater investor skepticism that chipped away at rival Tesla Motors. Near 1845 GMT, GM had a market capitalization of $52.6 billion, about $1.9 billion more than the electric car maker, which had overtaken GM in April. GM shares dipped 0.6 … Read more
Ford’s decision to oust its CEO is the latest sign of how Silicon Valley technology firms are shaking the foundation of the American auto industry. The removal of Mark Fields after just three years at the helm — and his replacement by an auto industry outsider — followed a precipitous decline in Ford shares, amid … Read more
Tesla has issued a voluntary global recall for some of its Model S and Model X cars to fix a problem with the parking brake. The electric car maker said about 2% of the 53,000 vehicles built from February to October 2016 were affected, but all of those cars are being recalled. The company added … Read more
Tesla has become the second-largest US car maker in terms of market capitalization, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing. Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge … Read more
The electric car maker said that was a 70% rise on the same period of 2016. In a record quarter, Tesla delivered just over 25,000 cars in the first three months of the year. The electric car maker said that was a 70% rise on the same period of 2016. It is a rebound for … Read more
Google is putting its self-driving car technology into a new company which it will call Waymo, the firm has announced. The new business, Waymo, will be owned by Google’s parent company, Alphabet. It signals a push to commercialise the technology which Google has been developing for more than 10 years. At a media event, the … Read more