Carvana (CVNA) reported fourth-quarter and full-year 2022 results on Friday. Shares fell more than 21% after the announcement. In its annual report, the company registered a more profound deficit for 2022 and an overall decrease of 3% in vehicles sold to customers compared to 2021. Furthermore, the integration of Adesa's car auction business adversely [...]
It’s early - but one stock that’s performing exceptionally well in 2023 so far is Lucid Group. The electric vehicle manufacturer is matching rival Tesla, which is doing very well in its own regard - also up 86% year-to-date - and shows no signs of slowing down. The reason for this rally is [...]
Last year GM reported record-breaking full-year revenues of $10.4 billion. This year, the company did it again - outshining last year’s performance with a full-year adjusted income of $11 billion. The company also reported profits in excess of what analysts were expecting for the fourth quarter. Moreover, earnings per share were up to $2.12 [...]
Tesla continues to be put on the back burner as Elon Musk dedicates his attention - and now, his resources - to Twitter. Since purchasing the social media platform for roughly $44 billion, Tesla has slowly but surely started to fall. And investors are finally starting to ask - is now the time to [...]
Early this morning Carvana surged 15% before leveling off and dipping back down a bit. However, this is the first positive price movement the online vehicle retailer has seen in quite some time. The reason for this quick jump? The stock was upgraded from “underweight” to “neutral” by an analyst at JPMorgan. While most [...]
It’s been an interesting few years for automakers - as supply and demand in this industry continue to twist and turn, keeping investors guessing along the way. However, things appear to be leveling off on the demand side - and the supply side is finally starting to catch up. As such, we’re seeing the auto [...]
For years, efforts here on the homefront have been to increase US manufacturing - preventing money from going overseas. The latest in cutting back on imports comes from President Biden’s push to accelerate domestic manufacturing through legislation. The inflation reduction act (IRA) became law on August 16, 2022 and sets aside about $30 billion in [...]
Usually, news of a partnership with Amazon would bode well for a company’s stock. However, that hasn’t been the case for Rivian - one of the most anticipated EVs since Tesla. This automaker just went public in the last year - and while the stock hit the market at a high of $172 in [...]
Back in April of 2020, the world's second-largest automaker - General Motors - made the decision to cut its dividend payouts. This decision came at the height of the COVID-19 pandemic when companies were hit the hardest. In February of 2020, the company paid out a dividend of 38 cents. And on September 15, [...]
The used car market - and the auto industry as a whole - has been rapidly growing over the past year and a half. The market peaked in February, and while prices are still higher now than in previous years, we’re seeing the median price of pre-owned cars finally start to trend back to [...]
