- North American EV Demand Drops Sharply Despite Rising Global Sales, Iran War
May 13, 2026
EV demand across the globe surged in April as steep gas prices and uncertainty over the Iran war continued to drive a shift in consumer perception of internal combustion engine (ICE) vehicles.
EVs Decline In North America, Europe Posts Gains
Despite an uptick in registrations for EVs and plug-In Hybrid Electric Vehicles (PHEVs), Benchmark Mineral Intelligence data, cited by Reuters on Tuesday, showcased a 28% decline in registrations across North America to 120,000 units in April. Global registrations for EVs and PHEVs came in at 1.6 million, illustrating a 6% YoY jump from April 2025, the report said.
Read Also: Auto Industry Urges Trump To Block Chinese EVs In US Ahead Of Xi Jinping Meet: Report
Notably, companies like General Motors Co.(NYSE:GM) suspended EV efforts as the President Donald Trump administration relaxed emissions standards and ended the $7,500 EV credit offered till the end of September 2025 last year, which resulted in falling demand for EVs.
However, companies like Ford Motor Co.(NYSE:F) are continuing EV efforts, with the automaker’s universal EV platform set to underpin a $30,000 pickup truck as well as eventually help develop Level-3 autonomous driving. Meanwhile, Tesla Inc.‘s (NASDAQ:TSLA) Model Y continues to be popular in the U.S. market.
Mexico was an outlier with sales nearly 50% higher so far this year, while Canada's 7% dip could rebound with the reintroduction of the incentives for the zero-emission vehicle (iZEV) program, according to the report.
On the other hand, Europe reported a 27% YoY jump to 400,000 units in April, the report said, also outlining a $235 billion commitment towards EVs by countries in the European Economic Area.
China’s Exports Remain Strong
Chinese automakers shipped over 400,000 units overseas in April, while total exports from January to April this year have already reached 1.4 million units, the report said, with over 22% EVs and PHEVs sold in Europe being of Chinese origin.
Amid strong overseas performance, April registrations were down 8% YoY in China’s domestic market to about 850,000 units. The report said that the decline can be attributed to the end of incentives in the country.
Chinese EVs still face a de facto ban in the U.S. due to privacy concerns, but it could change following a key meeting between Trump and Chinese President Xi Jinping. However, BYD Co. Ltd.‘s (OTC:BYDDY) (OTC:BYDDF) Executive Vice President Stella Li said that it is “successful” despite being denied entry into the U.S. market.
Gavin Newsom Says America Is Losing EV Race
Gov. Gavin Newsom (D-CA) decried the slowdown in the U.S.'s EV development efforts, slamming Trump for causing the dismantling of “good-paying jobs” and manufacturing capabilities, leading to the Chinese auto industry experiencing a surge in growth globally.
Story Continues
Read Also: Ro Khanna Warns Trump Against Letting China Build Factories In America Ahead Of Xi Meeting: 'Disaster For American Workers'
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
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This article North American EV Demand Drops Sharply Despite Rising Global Sales, Iran War originally appeared on Benzinga.com
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- Nvidia Could Make a Big Move by May 20 -- Here's What Smart Investors Are Doing Now
May 13, 2026
Key Points
Smart investors are remaining disciplined rather than chasing momentum. They're focusing on Nvidia's long-term growth prospects rather than a quarterly snapshot. These investors are already keeping cash ready to capitalize on any post-update volatility.10 stocks we like better than Nvidia ›
Nvidia(NASDAQ: NVDA) isn't just any stock. And May 20 isn't just any date.
With a market cap of $5.3 trillion, Nvidia ranks as the largest component in the S&P 500(SNPINDEX: ^GSPC). The GPU maker holds considerable sway over how the overall market performs. That's especially the case for artificial intelligence (AI) stocks. May 20 is an important date for Nvidia because it's when the company is scheduled to announce its fiscal year 2027 first-quarter results after the market closes.
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Nvidia's stock could make a big move by May 20. Here are three things smart investors are doing now.
Image source: Nvidia.
1. Remaining disciplined rather than chasing momentum
Nvidia's guidance projects Q1 revenue of $78 billion, plus or minus 2%. The consensus Wall Street view is for the company to deliver revenue of roughly $78.8 billion with adjusted earnings per share of $1.77. Based on its track record, Nvidia is likely to beat these expectations.
Investors appear to be anticipating good results from Nvidia. The GPU stock has rebounded from a recent pullback and is now hovering around its all-time high. If Nvidia reports exceptional Q1 numbers and, more importantly, provides a surprisingly bullish outlook, its shares could surge following the quarterly update.
However, smart investors are remaining disciplined rather than chasing momentum. They know that buying solely because of FOMO (fear of missing out) isn't a wise strategy. Emotion-driven trading usually doesn't work out very well.
Does this mean these smart investors aren't buying Nvidia shares ahead of its May 20 update? Not necessarily. What it does mean, though, is that they aren't loading up on the stock just because they think the Q1 numbers will be better than expected. Instead, experienced investors understand the wisdom of scaling into positions as opposed to making one huge one-time purchase.
2. Focusing on long-term growth
Even if smart investors anticipate stellar results from Nvidia, they remain focused on the company's long-term growth instead of a quarterly snapshot. The good news is that Nvidia's long-term growth prospects remain bright.
Nvidia's GPUs continue to enjoy strong demand due to multiple tailwinds. Hyperscalers are building out their AI infrastructure. Countries are investing in sovereign AI. Agentic AI is gaining traction.
The company is also poised to benefit from AI trends happening outside of data centers. For example, Nvidia is a leader in hardware and software used in advanced robotics. Its autonomous vehicle technology is used by leading automakers, including BYD(OTC: BYDDF)(OTC: BYDDY), General Motors(NYSE: GM), Mercedes-Benz(OTC: MBGYY), and Volvo(OTC: VLVLY). Nvidia is also a key "picks-and-shovels" provider to quantum computing companies.
3. Keeping some cash ready to capitalize on volatility
Smart investors also know that Nvidia's stock could be highly volatile, regardless of how strong Nvidia's results are. They keep some cash in reserve so they can capitalize on this volatility.
Nvidia's share price has occasionally fallen after a quarterly update, even when the company handily beat Wall Street expectations. Investors sometimes take profits off the table. Other times, Nvidia tops the official analyst estimates but comes in short of the so-called "whisper numbers." Should history repeat itself, smart investors will be prepared to take advantage of a temporary post-update decline.
Prediction versus patience
There's a pretty good chance, though, that Nvidia will make a big move by May 20 (or in the days after the company's Q1 update). Buying the stock hand over fist now could pay off quickly.
However, smart investors know that it's impossible to accurately predict the future. They agree with Charlie Munger (one of the smartest investors of all time), who said, "The big money is not in the buy and selling... but in the waiting." Patience is almost always a better investing strategy than predictions -- especially with a stock like Nvidia.
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- STRT Q3 Earnings Miss Estimates on Lower Volume and Forex Drag
May 12, 2026
Strattec Security Corporation STRT reported third-quarter fiscal 2026 adjusted earnings of 90 cents per share, missing the Zacks Consensus Estimate of $1.14 by 21.1%. Adjusted earnings declined 40% from $1.50 a year ago.
Net sales were $137.6 million, down 4.5% year over year, and came in below the consensus estimate of $141 million by about 2.4%. Results reflected lower North American OEM production on key platforms and the impact of EV program cancellations.
STRT stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Strattec Security Corporation Price, Consensus and EPS SurpriseStrattec Security Corporation Price, Consensus and EPS Surprise
Strattec Security Corporation price-consensus-eps-surprise-chart | Strattec Security Corporation Quote
Strattec Leans on Core Customers and Access Products
The quarter’s revenue mix underscored STRT’s close ties to large automotive programs. General Motors accounted for 28% of third-quarter sales, followed by Ford at 21% and Stellantis at 16%. Tier 1 customers contributed 15%, commercial and other customers represented 11% and Hyundai/Kia made up 9%.
Product concentration also remained clear. Door handles represented 26% of sales and power access products contributed 24%. Keys and locksets were 20% of the mix, with latches at 13%, user interface controls at 8%, aftermarket at 7% and other products at 2%. The mix highlights STRT’s positioning in access and security content per vehicle, but also means near-term results can swing with platform volumes.
STRT Absorbs FX and Tariff Pressure
Cost headwinds were evident even as the company executed on internal actions. Gross profit was $22.7 million compared with $23.1 million in the prior-year quarter, reflecting lower volume. However, gross margin improved 50 basis points year over year to 16.5%, thanks to restructuring savings and recoveries from customer program cancellations. Restructuring savings totaled $1.7 million and recoveries tied to customer program cancellations added $0.6 million.
Those benefits were partly offset by $2.5 million of higher costs from unfavorable foreign exchange movements, a $0.5 million increase in labor and benefit costs, and $0.3 million of incremental tariff costs.
Strattec Steps Up Spending, Operating Profit Hit
Operating discipline was pressured by higher overhead spending. Selling, administrative and engineering expenses increased $1.6 million year over year to $17.6 million, representing 12.8% of sales versus 11.1% in the prior-year period.
The increase reflected a mix of strategic and recurring cost items. STRT cited $1.4 million of business transformation and executive transition costs, a $1.3 million rise in salaries and employee benefits, and a $0.4 million increase in professional fees. These were partially offset by $0.2 million of restructuring savings and a $0.7 million recovery of costs related to canceled EV programs.
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Operating income declined to $5 million from $7.1 million a year ago, with operating margin at 3.7% compared with 4.9% in the prior-year quarter. Interest income increased to $0.9 million from $0.5 million, while other expenses totaled $0.7 million versus near breakeven a year ago. Net income attributable to STRT was $3.2 million compared with $5.4 million in the prior-year period. Adjusted EBITDA was $10.1 million, or 7.3% of net sales, compared with $12.9 million, or 8.9%, a year ago.
STRT’s Financial Position
Liquidity remained a key support. Cash and cash equivalents were $107 million as of March 29, 2026, up from $99 million at the end of the second quarter of fiscal 2026 and $84.6 million at the end of fiscal 2025. Total debt was reduced to $1 million from $8 million at fiscal-year end, leaving debt-to-total capitalization at 0.3%.
Cash generation was positive but moderated by working capital. Net cash provided by operating activities was $11.4 million in the quarter versus $20.7 million a year ago. Capital expenditures were $2.6 million, leading to free cash flow of $8.8 million compared with $19.5 million in the prior-year quarter.
The company reiterated capital priorities centered on funding organic growth programs, investing in automation and process modernization, and preserving flexibility through cyclical automotive conditions.
STRT Outlook Points to Softer Q4 Revenues
Management expects near-term sales to track North American auto production volumes, but expects fourth-quarter fiscal 2026 revenues to be down 3% to 4% year over year, reflecting continued EV cancellations and lower production on key programs.
The company reiterated its longer-term objective of reaching gross margins of 18% to 20% over the next few years. STRT also expects operating costs to run at 10% to 11% of revenues, excluding unusual items, while it continues investing in its transformation program.
Peer Releases
Gentex Corporation GNTX reported first-quarter 2026 results on April 24. The company’s adjusted earnings of 48 cents per share beat the Zacks Consensus Estimate of 44 cents. The figure increased 11.6% from 43 cents a year ago. Gentex’s net sales were $675 million, which topped the consensus mark of $647 million. Revenues rose 17.1% from $577 million in the year-ago quarter, aided by contributions from VOXX and a richer mix of advanced features.Gentex raised its full-year 2026 revenue outlook to $2.65-$2.75 billion from the previous estimate of $2.6-$2.7 billion, while maintaining its gross margin guidance at 34-35%.
Magna International Inc. MGA reported first-quarter 2026 results on May 1. The company’s adjusted earnings of $1.38 per share increased 76.9% year over year and beat the Zacks Consensus Estimate of $1.01. Magna’s net sales rose 3.1% year over year to $10.38 billion and topped the Zacks Consensus Estimate of $10.08 billion by 3.03%.For 2026, Magna revised its total sales outlook. It now projects total sales of $41.5-$43.1 billion, down from the previous guidance of $41.9-$43.5 billion. The company projects an adjusted EBIT margin of 6-6.6%, the same as the prior guidance.
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- GM's restart date at Ohio battery plant uncertain
May 12, 2026 · reuters.com
A General Motors joint-venture battery company is bringing a small number of workers back to an idled electric-vehicle battery factory in Ohio this month, although plans for recalling hundreds of laid-off workers there remain uncertain.
- General Motors to pay out $12.75M after selling California driver data
May 12, 2026 · nypost.com
From 2020 to 2024, GM collected names, contact info, geolocation and driving behavior then sold this data on to third-party companies.
- Geotab Establishes Engineering Center in Metro Detroit
May 12, 2026
Connected transportation leader deepens its investment in Michigan's automotive innovation ecosystem with dedicated product development and innovation hub
Geotab Establishes Engineering Center in Metro DetroitMichigan Governor Gretchen Whitmer and Geotab CEO Neil Cawse·GlobeNewswire Inc.
MADISON HEIGHTS, Mich., May 12, 2026 (GLOBE NEWSWIRE) -- Geotab, a global leader in connected transportation, video and asset tracking solutions, has officially opened a new engineering center in metro Detroit Michigan, strengthening its presence at the heart of the North American automotive industry. The facility, located at 31435 Stephenson Highway, will create up to 40 engineering roles over the next several years.
The new facility serves as a dedicated product development and innovation hub. Engineering teams based in Metro Detroit will develop next-generation connected transportation solutions that help fleet organizations make smarter, and more cost efficient data driven decisions. Proximity to Geotab's key OEM partners including Ford, GM, and Stellantis enables faster iteration and tighter collaboration with the companies reshaping the future of transportation.
The opening was celebrated alongside Michigan Governor Gretchen Whitmer, and local leaders from Oakland County and Madison Heights.
“Michigan is open for business and on the move,” said Governor Whitmer. “Geotab’s new engineering center of excellence will create good-paying jobs researching and developing new technologies that keep people safe on the road and help businesses improve efficiency. We’re working hard to help companies expand, develop their next great idea, and hire skilled workers right here in Michigan. Let’s keep getting it done.”
The center is supported by the Michigan Economic Development Corporation (MEDC) through the Michigan Business Development Program, and has been welcomed by Oakland County, the Detroit Regional Partnership, and the Madison Heights Community & Economic Development office.
"Geotab keeps tabs on the wheels that make the world go around. They are demonstrating the power of innovation to drive efficiency, smart data-gathering and safety for fleet operators like the U.S. Postal Service. Geotab's growth in our state is proof that if you have an idea to make vehicles (or anything else) better, you can make it in Michigan," said Quentin L. Messer Jr., CEO of the MEDC.
“This engineering center in metro Detroit puts us at the center of the automotive ecosystem - closer to our partners and customers, Michigan's world-class engineering talent drawn from institutions such as the University of Michigan, Michigan State and other top learning institutions, making it a natural home for Geotab's next phase of growth" said Neil Cawse, Founder and CEO of Geotab.
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Geotab's global platform connects more than 6 million vehicles, processing 100 billion data points daily, and serves 100,000 customers worldwide supporting some of the world’s largest fleets including the U.S. Federal Government, the United States Postal Service (USPS), and logistics and transportation companies.
-ENDS-
About Geotab
Geotab is a global leader in intelligent operations, video telematics and AI-powered insights. Trusted by more than 100,000 customers — from small and mid-size fleets to Fortune 500 enterprises and public-sector organizations, including the U.S. federal government, Geotab connects approximately 6 million vehicles and assets and processes 100 billion data points daily. With ISO/IEC 27001:2022, SOC2, FIPS 140-3 and FedRAMP authorizations, Geotab's open platform and 700 +partner ecosystem unify safety, compliance and operations in a single system. Our mission: a safer, more efficient, and more sustainable world in motion.
Attachment
Geotab Establishes Engineering Center in Metro Detroit
CONTACT: Nicole Riddle Geotab Inc. pr@geotab.com
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- Laid off GM employees describe ominous meeting, AI and severance
May 12, 2026 · cnbc.com
Several General Motors employees who were laid off Monday described their jobs being terminated to CNBC. The layoffs impacted about 500 to 600 employees, largely in information technology roles in Austin, Texas, and Warren, Michigan.
- General Motors' Latest Cuts Show EV Pressures Persist
May 12, 2026
This article first appeared on GuruFocus.
General Motors Company (NYSE:GM) fell 3.82% intraday after reports that the automaker plans to cut 500 to 600 salaried workers as part of an effort to trim costs and clear the way to bring in staff with skills in other technology areas. Affected employees began receiving notifications Monday morning. General Motors confirmed the cuts in a statement, saying the reductions stem from an effort "to transform its information technology department to better position the company for the future."
The move reflects ongoing pressure on General Motors' cost structure. US auto sales stagnated in early 2026, and the company continues facing pressure tied to weaker-than-expected electric vehicle demand and profitability. The Monday cuts follow hundreds of salaried layoffs in October 2025, which came alongside thousands of blue-collar job reductions tied to GM's struggling EV business.
Warning! GuruFocus has detected 11 Warning Signs with GM. Is GM fairly valued? Test your thesis with our free DCF calculator.
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- Client Command® Appoints Automotive Industry Veteran Wally Burchfield as Chief Revenue Officer
May 12, 2026
ATLANTA, May 12, 2026--(BUSINESS WIRE)--Client Command®, known for developing the patented Active Shopper Network® platform that delivers real-time intent signals to the automotive industry’s leading brands, today announced the appointment of Wally Burchfield as Chief Revenue Officer. Burchfield will lead all revenue functions with a focus on rapid expansion across automotive groups, OEM’s, and expanding the Active Shopper Network® into new vertical markets.
Burchfield brings extensive leadership experience across automotive retail, OEM operations, digital media, and advertising. Throughout his career, he has built and led high-performing teams focusing on driving measurable growth through data, technology, and performance marketing. Most recently, he helped scale a major automotive digital partnership, contributing to the growth of one of the industry’s largest Tier 3 franchise dealer networks aligned with Amazon. Earlier in his career, he held leadership positions with General Motors and Nissan North America, where he supported national sales, dealer operations, sales finance and customer experience.
In addition to his OEM and automotive technology background, Burchfield has worked extensively alongside advertising agencies and media organizations, developing expertise in audience targeting, attribution, campaign strategy, and integrated marketing execution. His experience connecting marketing performance with revenue growth aligns closely with Client Command’s data-driven approach to helping clients identify, engage, and convert Active Shoppers®.
"Wally is a proven leader with a strong track record of building relationships, leading teams, and delivering growth," said Jonathan Lucenay, Chief Executive Officer of Client Command®. "His experience across automotive, media, and performance marketing makes him an outstanding fit for where Client Command® is headed. We’re excited to welcome him to the leadership team."
"Client Command® has built a powerful platform and an incredible reputation in the industry," said Burchfield. "The combination of the patented Active Shopper Network®, identity-level data, and measurable attribution gives clients a true competitive advantage. I’m excited to join the team and help drive the next phase of growth."
About Client Command®
Founded in 1999, Client Command® delivers identity-level, real-time intent data through its patented Active Shopper Network®. Additionally, as a leading Customer Data and Marketing Automation Platform, the company enables organizations to identify, engage, and convert in-market consumers across devices. With advanced multi-touch attribution and identity-level match-back to sale, Client Command® provides unmatched visibility into performance, customer journeys, and marketing effectiveness.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260512393097/en/
Contacts
Media Contact: Jordan West
888-786-6489
jordanw@clientcommand.com
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- GM cuts 500-600 salaried IT roles in global cost and workforce review – report
May 12, 2026
General Motors (GM) is eliminating roughly 500 to 600 salaried jobs in its information technology organisation as part of a broader effort to reduce expenses and reassess staffing requirements.
The job cuts started Monday and are expected to affect workers primarily in Austin, Texas, and Warren, Michigan, reported CNBC, citing a source.
The reductions are global, though GM has not provided a country-by-country or site-by-site breakdown.
In a statement to the publication, the automaker acknowledged the layoffs but did not confirm the number of employees impacted.
“GM is transforming its Information Technology organisation to better position the company for the future. As part of that work, we have made the difficult decision to eliminate certain roles globally. We are grateful for the contributions of the employees affected and are committed to supporting them through this transition,” the company was quoted as saying in an emailed statement.
The latest move adds to a series of targeted workforce reductions at GM as the company adjusts its operations.
In October, GM cut more than 200 computer-aided design engineers, citing “business conditions.”
At the end of last year, GM had about 68,000 salaried employees worldwide, including 47,000 white-collar workers in the US.
The reductions come as GM posted lower revenue and net income for the first quarter of 2026, even as operating profit improved.
Quarterly revenue declined 0.9% year over year to $43.62bn.
Net income attributable to stockholders fell to $2.62bn from $2.78bn in the same period a year earlier.
Adjusted EBIT increased 21.9% to $4.25bn, and the company raised its full-year adjusted EBIT guidance following a US Supreme Court decision on tariffs.
GM’s layoffs follow similar restructuring actions elsewhere in the automotive sector.
Autoliv recently said it would cut about 2,200 jobs in Türkiye as it prepares to close manufacturing operations there by the first half of 2028 and transfer production to other facilities in its EMEA network.
Porsche has also said it plans to cut more than 500 jobs and shut three subsidiaries under a strategic realignment aimed at sharpening its focus on core operations.
"GM cuts 500-600 salaried IT roles in global cost and workforce review – report" was originally created and published by Just Auto, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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