business finance
“Nissan Urges Dealers to Cut Prices | Giga Gears”
When the calendar flipped over to May, Nissan instituted a new sales policy for its dealers: Cars can be advertised at discounts up to 10 percent off the invoice price, a massive reduction from typical MSRP. The reasoning, it seems, is that Nissan just has too many cars sitting on dealer lots.
“Chinese EVs: A Threat to Western Automakers?”
Whether you have a problem buying a Chinese EV or not, that still doesn’t change the fact that China is investing heavily in its electric future, or the fact that the build quality and engineering gaps continue to close between Chinese and legacy Western automakers — with some Chinese automakers even surpassing the…
Ferdinand Piëch: A Unique Automaker CEO | Giga Gears
Car purchases are rarely rational, and nobody understood that more than Austrian business magnate and Porsche heir Ferdinand Piëch. In his 50-plus years in the automotive industry, his main motivating factor was building cool shit and taking it racing, often completely at odds with company profit or shareholder value.…
Tesla slashes U.S. job listings after major layoffs
Good morning! It’s Thursday, May 9, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know.
Did Tesla Commit Securities and Wire Fraud with Autopilot Claims?
So folks, it’s looking like U.S. prosecutors’ probe into Tesla and Autopilot will be going well beyond whether the systems actually work or not. Regulators are now looking to see if Elon Musk and Tesla committed securities or wire fraud by misleading investors and customers about the self-driving capabilities of their…