U.S. automakers had a punishing week — with a silver lining for shoppers

The four major U.S. automakers — GM, Ford, Stellantis and Tesla — all reported earnings this week and saw their stocks decline. The auto industry is at a 'Darwinian' inflection point, says one CEO.

The four major U.S. automakers — GM, Ford, Stellantis and Tesla — all reported earnings this week and saw their stocks decline. The auto industry is at a"Darwinian" inflection point, says one CEO.Jeeps are delivered to a dealership in Chicago on June 20, 2024. Stellantis, the parent company of Jeep, reported disappointing earnings for the first half of 2024.stillBut some trends are industry wide.

"We still, obviously, firmly believe EVs are the best for customers and that the world is headed for a fully electrified transport," Musk said on a relatively subdued earnings call. At the same time, Ford and GM are adamant that EVs still have a bright future."We do think the market for EVs will continue to grow," Mary Barra, the CEO of GM, told analysts on a call."EVs are fun to drive — instant torque. I think our EVs have beautiful designs, the right range, the right performance.", and he reiterated some of those points on his earnings call.

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