Purchases of popular models like the Tesla Model 3 and the Ford Mustang Mach-E may no longer entitle buyers to tax savings because the cars do not meet tougher sourcing requirements.
Ford and other automaker have had to readjust their electric vehicle production plans because sales have been weaker than they had expected.
Stellantis, the parent of Chrysler, Jeep and Ram, and the United Automobile Workers union said they had reached a deal on a new contract similar to the one that the union reached with Ford.
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
Analysts expected a decline in sales for the quarter. Still, the dip may raise concerns about flagging demand.
Elon Musk’s electric car company is facing intensifying competition from newer Chinese automakers and established Western car companies.
Sales of electric vehicles have slowed recently partly because prices of some models like the F-150 Lightning had risen a lot.
The automaker saw a big jump in deliveries of pickup trucks as demand from consumers and businesses remained strong.
The biggest U.S. automaker sold more trucks and sport-utility vehicles as supply chain problems eased and demand remained strong.
The oil industry enjoyed record profits in 2022 after Russia invaded Ukraine, but the prices of oil and natural gas have fallen sharply in recent months.