Tesla's robotaxi demo, GM's gas-guzzlers, and luxury car sales tank: Autos news roundup
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.
Stellantis cost-cutting could hit the top ranks next
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.
Elon Musk is expected to reveal a Tesla ‘Cybercab’ at a long-awaited event tonight. Here’s what to know
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.
Luxury car sales are tanking as drivers look for cheaper options
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.
GM is walking a tightrope between gas and electric cars
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.
Trump calls self-driving cars ‘concerning’ hours before Tesla’s robotaxi launch event
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.
A self-driving truck startup wants Waymo, Cruise, and others to follow its lead on safety
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.
Tesla Cybertrucks are still being insured by Geico — despite claims otherwise
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.
Honda recalls 2 million vehicles with a steering bug
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