Michael Wayland

Articles by Michael Wayland

Detroit automakers have cut more than 20,000 U.S. salaried jobs as AI threat looms - CNBC

Business May 16, 2026

The former General Motors headquarters inside the Renaissance Center in Detroit, April 15, 2024. DETROIT As artificial intelligence expands, it threatens to exacerbate a growing trend for America's �...

Laid off GM employees describe ominous meeting, AI and severance - CNBC

Business May 13, 2026

DETROIT An ominous email about an oddly timed 15-minute virtual meeting. A scripted message from human resources. And an abrupt end to that meeting, as well as their job. That's how several General�...

Why one of the nation's largest auto lenders isn't worried about high vehicle prices or 'forever loans' - CNBC

Business May 10, 2026

The head of one of the nation's largest auto finance lenders isn't overly concerned about rising consumer automotive debt and inflated used car prices leading to longer loans on vehicle purchases. H�...

Used car prices fall for first time this year as gas prices spike, EV interest rises - CNBC

Business May 8, 2026

DETROIT Used car prices fell in April for the first time since October as gas prices rose amid the Iran war. Cox Automotive's Manheim Used Vehicle Value Index which tracks prices of used vehicles so�...

Ferrari tops Wall Street's first-quarter expectations ahead of EV debut - CNBC

Business May 6, 2026

DETROIT Ferrari on Tuesday beat Wall Street's first-quarter earnings expectations and reconfirmed its guidance for the year, weeks ahead of the sports car maker revealing its first all-electric vehic�...

General Motors is set to report earnings before the bell. Here's what Wall Street expects - CNBC

Business April 29, 2026

DETROIT General Motors raised its 2026 guidance after significantly beating Wall Street's first-quarter earnings expectations following a roughly $500 million benefit from the U.S. Supreme Court deci�...

'It's just scale': Local mom-and-pop car dealerships are growing or dying amid industry consolidation, rise of mega-retailers - CNBC

Business April 19, 2026

Derek Sylvester with members of his family, team and mascot Molly, who was featured on the dealership's logo. Derek Sylvester's father built the family's original Chevrolet dealership with his bare �...

Ineos Automotive: Startup backed by a knighted billionaire and soccer mogul wants to rekindle the rugged SUV market - CNBC

Business April 14, 2026

An automotive startup founded by a knighted billionaire, U.K. chemical mogul and minority owner of one of the world's most prominent soccer clubs wants to rekindle the rugged SUV market. The company�...

Kia plans to launch U.S. pickup truck by 2030 - CNBC

Business April 10, 2026

Kia plans to release a pickup truck for American consumers in the coming years, as the South Korean automaker plots continued growth domestically and globally. The company said Thursday it will add �...

Used car prices rise to highest point since summer 2023 - CNBC

Business April 8, 2026

Prices of used vehicles are continuing to rise amid relatively tight supplies, according to a closely watched automotive industry barometer. Cox Automotive's Manheim Used Vehicle Value Index which t�...