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Scout Motors has introduced pre-production models of the Terra pickup and Traveler SUV, set for production in 2027. Both vehicles will offer fully electric and extended-range options, targeting affordability in the U.S. EV market. Reservations are now open with starting prices below $60,000.
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Toyota, Nissan, and Honda report significant profit declines due to fierce competition in China and a slow transition to electric vehicles. Toyota's profits dropped to $3.7 billion, while Nissan announced job cuts and a 70% reduction in profit outlook. The automakers face challenges from local rivals like BYD, which are rapidly gaining market share.
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In a significant shift in the electric vehicle market, BYD has reported third-quarter revenues of 201.1 billion yuan ($28.2 billion), surpassing Tesla's $25.2 billion for the first time. This milestone highlights the growing competition and challenges facing Tesla amid increasing tariffs and regulatory scrutiny on Chinese automakers.
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Following Ukraine's cross-border strikes into Russia, U.S. markets experienced a downturn, with major indexes dropping by 1%. Investors are also closely watching Nvidia's upcoming earnings report amid rising geopolitical tensions and concerns over stock market volatility.