Hayman Capital Management LP has taken a stake in General Motors Co., said a person familiar with the matter, indicating further investor confidence in the auto industry’s recovery as the U.S. winds down its ownership role.
Tesla Motors Inc., under U.S. scrutiny for vehicle-fire risk, is seeking to head off a months- long investigation that could lead to expensive upgrades and longer-term damage to the image of electric cars.
Tesla Motors Inc., the electric-car maker led by billionaire Elon Musk, slid the most in more than 21 months after reporting quarterly vehicle sales that missed some estimates and lower revenue from regulatory credits.
Ford Motor Co. wants to maintain record earnings in North America next year as analysts project that a transition to new F-Series pickups might trim production, the automaker’s president for the region said.
Tesla Motors Inc., the top seller of premium all-electric autos, slid as much as 11 percent after reporting quarterly vehicle sales that missed some estimates and lower revenue from regulatory credits.
General Motors Co., the largest U.S. automaker, rose the most in eight weeks after posting a third- quarter profit that beat estimates as demand for redesigned pickups and other models in North America made up for losses in Europe and in Asia outside of China.
U.S. stocks advanced, sending the Dow Jones Industrial Average to a record close, as Federal Reserve officials said economic weakness warrants continued stimulus and investors await data this week on jobs and growth.
Nissan Motor Co.’s take-no-prisoners approach to gaining U.S. market share has the auto industry worried that a price war is brewing that will erode the profit progress made since the recession ravaged auto sales.