Biggest takeaways from the automotive, EV industry this earnings season

Yahoo Finance Live checks out shares of auto manufacturers Rolls Royce, Nikola, and Lucid to gauge how the automotive industry fared this past earnings season.

Video transcript

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- But let's take a beat and talk about the auto sector here, a tale of two automakers. Shares of Rolls-Royce closing in the green after the company crushed analyst estimates and reported 57% year-over-year increases in underlying profit. However, Nikola other way there. It's down, closed lower after a sharp miss on revenue estimates and falling short on deliveries as well. So really, a tale of two different automakers there.

We'd also been keeping close tabs on Lucid on the day as well. Shares there were on the move and one of the trending tickers on Yahoo Finance earlier today. Still, they ended lower by about 12%, about 11.9% there. And so earnings season continues to roll on. Lucid certainly one that was in investors' sights as the report was not great at all.

- No. Production has really been a struggle for them, and the Street really not liking their production target for the year. This stock is also heavily shorted, I should add. Also, back in January, this stock had, in one day, gone up more than 40% because of that short interest after that headline of a possible buyout. But certainly, it has been a disappointment for the Street along with some other EVs.