DRIV

BYD Company (OTC:BYDDY) might surpass Tesla Inc. (NASDAQ:TSLA) in annual electric vehicle sales in 2024 as demand grows in China but declines in the U.S. and Europe. This marks a significant change from January when Bloomberg Intelligence expected Tesla to maintain its lead over BYD until the decade's end, Bloomberg writes. However, BYD's rise could be short-lived as U.S. and European tariffs limit Chinese automakers' growth to Asia and emerging markets. Weakening demand for battery EVs means that internal combustion engines, including hybrids, will sustain profits for legacy automakers like General Motors Co. (NYSE:GM), Volkswagen AG (OTC:VWAGY), and Ford Motor Co. (NYSE:F). This t

Tesla Inc.‘s (NASDAQ:TSLA) share of the electric vehicle (EV) market in the U.S. has dipped below half for the first time. What Happened: The Elon Musk-led company is seeing more automobile rivals grab market share in the sector it once dominated. Tesla’s share of the EV market in the U.S. fell to 49.7% for the second quarter, marking the first time that it has been below 50% in a quarter, according to new estimates released on Tuesday by research firm Cox Automotive. That is down from a market share of 59.3% posted in the second quarter of 2023. Cox plans to release its full second-quarter EV sales report on July 11, but it gave a sneak peek at some data, including Tesla’s dwindl

In an exclusive interview with Benzinga, Michael Sayers, CFA and vice president and portfolio manager at Rockland Trust, shared valuable insights into today’s investment opportunities. Below, we explore the key questions and Sayers’ insightful responses: How The CHIPS Act, IRA Act & Infrastructure Act Create Investment Opportunities When asked about the anticipated influence of recent legislative developments like the CHIPS Act, IRA Act, and Infrastructure Act on investment opportunities, Sayers provided a comprehensive overview. Regarding the potential effects of the CHIPS Act on technology investments and the semiconductor industry, Sayers pointed out the significant earmarke

Tesla Inc (NASDAQ:TSLA) appears to be changing its strategy after noting in its last quarterly earnings report that it was facing lower demand for electric vehicles and that delivery growth rates in 2024 would be “notably lower” than in 2023. The company’s fourth-quarter earnings disappointed Wall Street expectations, with misses on revenue and profit as the company reported negative impacts from growth in vehicle deliveries that have lower average sales prices. Tesla has already announced price increases in the U.S. and the eurozone for its most popular vehicle — the Model Y SUV. Last week, the company announced plans to increase the Model Y’s price in the U.S. by $1,000 starting

President Joe Biden currently leads as the favored candidate for the Democratic nomination in the 2024 presidential election. While he's not campaigning, Biden is busy governing the country and focusing on top priorities. Voters will hear more about those priorities and recent wins from his administration during the president's upcoming State of the Union address. What Happened: Biden is set to give his State of the Union speech on March 7 in front of a joint session of Congress, Supreme Court justices, members of his Cabinet, military leaders and millions of viewers watching on television at home. As of now, Biden's speech could come with the government in a partial shutdown, which

General Motor (NYSE: GM’s self-driving unit Cruise announced on Thursday it was laying off 900 workers — nearly a quarter of its entire workforce. The move comes directly after reports that after Cruise axed several of its top executives. The signs were building over recent weeks following an accident in San Francisco in October involving one of Cruise’s vehicles and a pedestrian. The layoffs put the future of the company in much peril and, indeed, leave the entire autonomous vehicle (AV) sector in a dubious state. But exchange traded funds tracking the sector have performed well in the past two months, despite the negative news flow. The Global X Autonomous & Electric Vehicles ET

BYD Co, Ltd (OTC:BYDDF) (OTC:BYDDY), the Chinese EV company backed by Warren Buffett, forged a 500 million ringgit ($113 million) tie-up with Sime Darby Motors Sdn Bhd as it made its electric vehicle debut in Malaysia. Sime Darby will be BYD's exclusive distributor in Malaysia, with the first showroom to open later this month, Bloomberg reports.   They plan to have 20 dealerships by next year and 40 by 2024.  Also Read: Warren Buffett's Berkshire Hathaway Trim Holdings In This Tesla Competitor Again BYD will introduce its flagship Atto 3 to the Malaysian market, with the standard model priced at 148,800 ringgit and the extended-range version at 167,800 ringgit. BYD's growing list of e

On CNBC’s “Halftime Report Final Trades,” Karen Firestone of Aureus Asset Management said she was “moving away from large cap tech names.” She named Integer Holdings Corp (NYSE:ITGR) as her pick and stated, “We’re starting to see a real resurgence in elective procedures.” Johnson & Johnson’s (NYSE:JNJ) earnings release on Wednesday showed that “their medical devices business was up 6%,” Firestone said. “Integer plays in that market” and there could be a “huge surge, as the backlogs are filled and move into sales in the second half of this year and 2023 will be very strong,” she added. Liz Young of BNY Mellon Investment Management chose Global X Autonomous & Electric Vehicles ETF (NASDAQ:D

On CNBC’s “Halftime Report Final Trades,” Liz Young of BNY Mellon Investment Management said that electric and autonomous vehicles will be the long-term theme. “I think there is fiscal power behind it. I think there is consumer power behind it,” she said. Young suggested to invest in a diversified way, also looking at makers of components that go into EVs. The Global X Autonomous And Electric Vehicles ETF (NASDAQ:DRIV) had risen by 0.41% to $31.89 in after-hours trading on Monday. Joseph Terranova of Virtus Investment Partners named Ford Motor Company (NYSE:F) as the top pick. He said he would sell shares of Starbucks Corporation (NASDAQ:SBUX) to get capital to invest in Ford. James Lebe