Hyundai Motor Co

UAW members attend a rally in support of the labor union strike at the UAW Local 551 hall on the South Side on October 7, 2023 in Chicago, Illinois. Jim Vondruska | Getty ImagesDETROIT – The United Auto Workers achieved record contracts with the Detroit automakers following contentious talks and roughly six weeks of targeted labor strikes. But not all of the union's members are satisfied with the tentative agreements.The deals, which were recommended for ratification by UAW leaders, are each currently on pace to pass. Yet…

DETROIT – General Motors is positioning two new crossovers from Chevrolet and Buick as its answer to affordability issues left by discontinued, cheaper sedans.Affordability has increasingly become a concern among investors and consumers. Cox Automotive reports the average price paid for a new vehicle this year has ballooned to upward of $48,600. That's up about $5,200 from two years ago and up $11,700 from five years ago. The higher prices have pushed roughly 10% of traditional new car buyers out of the market, according…

A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas. Tesla's Model Y has become the world's best selling car in the first quarter of 2023. Brandon Bell | Getty ImagesDETROIT – Legacy automakers continue to promise big increases in production and sales of battery-electric vehicles, but their efforts so far have done little to change the highly watched, emerging market.Despite notable upticks in sales compared with a year ago, industry leader Tesla remains the top EV seller and has grown its lead…

2021 Dodge Durango SRT HellcatFiat ChryslerDETROIT – Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis' second-quarter U.S. new vehicle sales up 6.4% from a year earlier.The uptick is another sign of demand for new vehicles rebounding, as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems.Stellantis' sales increase is expected to be among the lowest of the second quarter, according to auto…

Dave Walters of Orange County, California, stands by his newly leased Hyundai Ioniq 5 electric vehicle.Provided by Dave WaltersFed up with high gas prices and enticed by federal tax credits, Dave Walters decided he wanted an all-electric Hyundai Ioniq 5 for his next vehicle.The Orange County, California, resident initially thought about purchasing a used model, until he learned he could lease the vehicle and take advantage of a key loophole under the Inflation Reduction Act.Buying a used Ioniq, which is produced in South…

DEARBORN, Mich. — New video footage of a fire involving a Ford F-150 Lightning this year highlights a growing concern around electric vehicles: volatile fires from the batteries that power them.The previously unreleased footage, which CNBC obtained through Michigan's Freedom of Information Act from the Dearborn Police Department, shows smoke billowing from three tightly packed electric pickups in a Ford Motor holding lot in Dearborn, Michigan.Moments later, flames shoot several feet above the vehicles, which were…

DETROIT – General Motors pulled ahead of Ford Motor to become the country's second best-seller of all-electric vehicles during the first quarter, trailing only industry leader Tesla.GM on Monday said it sold 20,670 EVs during the first three months of the year. Ford, which was No. 2 last year, reported EV sales Tuesday of 10,866 over the same time frame.related investing newsMotor Intelligence reports Ford's EV sales during the first quarter dropped its ranking in EV sales to fifth in the U.S. Hyundai Motor, including…

This image, from September 2021, shows a BMW iX5 Hydrogen in Munich, Germany.Krisztian Bocsi | Bloomberg | Getty ImagesThe BMW Group on Monday launched a pilot fleet of hydrogen vehicles, with the German automotive giant's CEO referring to hydrogen as "the missing piece in the jigsaw when it comes to emission-free mobility."The BMW iX5 Hydrogen, which uses fuel cells sourced from Toyota and has a top speed of more than 112 miles per hour, is being put together at a facility in Munich.The car stores hydrogen in two tanks…

General Motors and Netflix partnered for a 60-second ad starring actor and comedian Will Ferrell driving GM electric vehicles in popular Netflix shows and movies to promote the streaming service using more EVs in its productions.ScreenshotAutomakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere.The only automakers expected to advertise during Sunday's game between the Philadelphia Eagles and Kansas City…

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs.Photo by Jeffrey Sauger for General MotorsDETROIT – When General Motors launched the GMC Hummer EV in 2021, the automaker touted it as a new benchmark for its vehicle development time, but the production and sales pace of the truck have been anything but that.The Detroit automaker only sold…