Michael Wayland
CNBC
Detroit, MI, United States
Contact Michael
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Recent articles by Michael:
Ford sold 91 million shares of EV startup Rivian last year
Ford liquidated most of its ownership stake last year in EV maker Rivian Automotive. → Read More
Biden administration expands EV tax credits in boost for Tesla, Cadillac, others
The EV tax credit change follows Tesla CEO Elon Musk publicly criticizing the former standards as well as GM and Ford lobbying to adjust the guidelines. → Read More
Ford is set to report results after the bell. Here's what Wall Street expects
The automotive industry's earnings and forecasts are being closely watched by Wall Street for any signs of weakening consumer demand. → Read More
Ford's U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco
Ford's EV sales, a major focus of Wall Street, increased in January, led by its electric Mustang Mach-E crossover. → Read More
General Motors doesn’t expect significant U.S. production of EVs until second half of year
General Motors executives blamed U.S. battery cell plants for the company's slow rollout of EVs. → Read More
General Motors is set to report earnings before the bell. Here's what Wall Street expects
The auto industry's earnings and forecasts are being closely watched by Wall Street for any signs of weakening consumer demand. → Read More
Ford and General Motors enter a new phase of uncertainty on prices and demand
Ford and General Motors are set to report earnings this week. → Read More
Ford cuts prices on electric Mustang Mach-E, following Tesla's lead
Ford said Monday it will lower the price of the Mach-E, which is comparable to Tesla's Model Y, by an average of about $4,500, depending on the model. → Read More
Carmakers face a crossroads as they work to fit auto dealers into their EV plans
For dealers, EVs will mean new employee training, infrastructure and substantial investments to be able to service, sell and charge the vehicles. → Read More
Audi's new EV is a luxury SUV with augmented reality that doubles as a pickup
Audi's new concept vehicle is an all-electric luxury SUV that uses augmented reality glasses and can double as a small pickup truck. → Read More
How Tesla's price cuts could spur an EV pricing war
Tesla's price cuts make the vehicles more affordable and likely eligible for federal EV tax credits but tank the resale values of cars for current owners. → Read More
GM, LG end plans for fourth U.S. battery cell plant as automaker seeks new partner
GM is expected to continue with its plans to build the plant but is searching for another partner, according to a person familiar with the decision. → Read More
GM to invest $918 million in new V-8 gas engines and EV components
About $579 million will go toward GM's sixth-generation family of small-block V-8 gas engines that are used in highly profitable vehicles. → Read More
Why GM's new Chevy Corvette is a hybrid and not an all-electric car
The Chevy Corvette E-Ray – starting at about $104,000 – may surprise some consumers, as it's a step toward full electrification but a unicorn in GM's lineup. → Read More
GM reveals new Chevy Corvette E-Ray hybrid sports car, starting at over $104,000
The 2024 Chevrolet Corvette E-Ray hybrid will be the quickest production version ever of the American sports car. → Read More
10 auto industry predictions for investors to keep an eye on this year
Cox Automotive's predictions for the U.S. auto industry point to a challenging year ahead. → Read More
Porsche sees small uptick in global sales despite big drop in Taycan EV
Porsche said a 16% drop in global sales of its electric Taycan were "due to supply chain bottlenecks and limited component availability." → Read More
Used vehicle prices are falling but not enough to offset grossly inflated levels
Cox Automotive expects wholesale used vehicle prices to end the year down 4.3% from December 2022. → Read More
Tesla breaks into America's bestselling cars list for 2022, but trucks still dominate
Pickup trucks continued to lead America's top-selling vehicles in 2022, but Tesla broke into the top 10 for the first time amid a shakeup among other models. → Read More
Automakers are cautiously optimistic for a 2023 rebound after worst new vehicle sales in more than a decade
Automakers are hoping last year's new vehicle sales — the worst in more than a decade will mark a bottom for the market. → Read More