Cars
from24/7 Wall St.
2 weeks agoAmerica's Most Expensive Car Brand
U.S. average transaction price for light vehicles rose to $51,288 in January, reflecting high vehicle costs and reduced automaker incentives.
CFO Paul Jacobson said the charges stem from decisions such as discontinuing the BrightDrop electric van and impairing certain EV assets, along with contract cancellations and supplier settlements; about $4.6 billion of the total is expected to be settled in cash, mostly in 2026, with $400 million already paid last year. Despite the reset, GM emphasized it has not impaired its core retail EV portfolio and still expects EVs to become profitable over time as new battery chemistries, cost cuts,
German sports car maker Porsche sunk to a third-quarter loss of almost €1 billion ($1.16 billion), the firm said Friday, as it grappled with the costs returning to petrol and delaying its electric vehicle (EV) rollout. Operating profit -- which strips out some costs such as tax -- fell to €40 million for the first nine months of the year. Porsche said in July it had made an operating profit of €1.0 billion since the start of the year,