Tesla's robotaxi demo, GM's gas-guzzlers, and luxury car sales tank: Autos news roundup
Plus, Stellantis eyes cost-cutting and Honda's big recall
Elon Musk’s Tesla went into this week prepared for a major “watershed” moment, as Wedbush Securities analyst Dan Ives put it. The automaker on Thursday held its long-awaited “We, Robot” robotaxi launch event, which was poised to either make — or break — the stock.
General Motors on Tuesday reminded its investors that, despite its major progress in developing electric vehicles, gasoline-powered cars are still a major part of its business — and likely will be for years to come. Honda Motor Co. is dealing with the backlash of a massive recall of some two million vehicles across North America, while Stellantis is eyeing some cost-cutting to shore up its U.S. operations.
Catch up on those stories — and more — in this week’s Auto News Roundup.
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Stellantis (STLA) CEO Carlos Tavares is reportedly looking to extend his company’s cost-cutting plans to hit top-level management, from regional heads to brand executives, as its rough year continues.
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Tesla (TSLA) CEO Elon Musk is primed to unveil his company’s efforts to produce a self-driving “robotaxi,” either delivering a massive win for investors that justifies sacrificing a widely anticipated car — or a major disappointment.
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After years of buying expensive vehicles and looking for luxury, more and more consumers are going all-in on cheaper — but reliable — cars that just get the job done well.
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At General Motors’ (GM) investor day, the Detroit automaker made sure to tout its progress and enthusiasm for electric vehicles. But the company also made sure to remind investors that gasoline-powered cars are still a necessary part of its business.
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Former President Donald Trump on Thursday called the idea of autonomous vehicles (AV) “concerning,” just hours before his close ally Elon Musk is set to show off Tesla’s robotaxi prototype.
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Self-driving truck startup Gatik on Thursday announced plans for what it calls the “most rigorous” third-party review of an autonomous driving system. And it wants others to follow its lead.
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Geico (BRK.A) on Monday denied that it has stopped underwriting Tesla’s (TSLA) Cybertruck electric pickups after claims circulated on social media and enthusiast forums.
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Honda Motors recalled around two million vehicles in North America on Wednesday due to a steering bug that increases the risk of a crash. — Ben Kesslen