Port strike ripple effects, Tesla sidesteps Q3 slump, rough sales results for Stellantis

Hey everyone. Not all press is good press — but in Rivian’s case, a recent video surfaced on Facebook that is seriously impressing consumers.

After Hurricane Helene hit Asheville, North Carolina, a Rivian R1T owner found his truck had likely been dragged 100 to 150 feet by floodwaters. Yet, much to his surprise, the EV pickup was still ready to run.

Time will tell if the owner ends up having issues with his vehicle down the line, but for now, it looks like the R1T really can “handle it all” as Rivian claims.

— CDG

1. Analysts weigh in on potential ripple effects from port strike

Auto manufacturers are holding their breath as port strikes along the U.S. East and Gulf coasts loom over supply chains.

Driving the news: While some brands stocked up on parts, European automakers like BMW and VW are still at risk due to their reliance on seaborne trade. And even a brief strike could cause weeks of delays.

If it drags on into November, expect production cuts and higher prices to squeeze the industry right as the holidays approach … Read more

2. Tesla sidesteps Q3 slump to score crucial victory

Tesla’s back on the upswing after two quarters of declining sales, delivering a solid boost in Q3. While its 462,890 units fell just shy of Wall Street’s expectations, they still marked a 6.4% year-over-year increase, driven by growth across all models.

But here’s the catch: Tesla had to lean heavily on discounts and incentives to make it happen, and over-production is still a lingering issue.

With its Q3 victory in hand, Tesla’s now focused on maintaining this momentum, even as most of the auto market continues to cool off … Read more

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3. Stellantis' U.S. auto sales drop 20% in the third-quarter

Stellantis posted one of the worst Q3 sales drop of any major automaker, with a 20% decline year-over-year.

By the numbers: The company sold 305,294 vehicles in the U.S.—a staggering 75,000 fewer than last year—while the broader market only dipped by about 2%.

Despite some bright spots like strong hybrid sales and growth for the Jeep Compass and Dodge Hornet, Stellantis is counting on aggressive cross-brand incentives to turn things around.

But with dealer pushback and a potential UAW strike looming, it’s facing an uphill battle to regain its footing in the U.S. market … Read more

• Auto giants are getting nervous about the prospect of mega fines as EV demand falters.

• A new study reveals a cold, harsh truth for thrifty new car buyers.

• MEMA, Auto Innovators to help facilitate a $1B fund for the automotive industry.

• Vance won't commit to a $500M federal grant for building EVs at a Michigan auto plant.

• GM CEO Mary Barra is back at No. 1 of Most Powerful Women in Business.

Thanks for reading everyone.

— CDG