Videos have emerged on social media showing a large palm tree being knocked over by monsoon winds in Tempe, Arizona. The tree, one of several lining the parking lot of an Acura dealership, falls on several Lexus and Toyota SUVs. Footage of the aftermath shows the tree resting atop a Lexus RX450h, an Acura MDX,
Month: August 2022
A revamped proposal in the U.S. Senate to extend the tax credit for new electric vehicle purchases is less about consumers and more about sourcing, said Jennifer Safavian, CEO of industry trade group Autos Drive America. The EV tax credit proposal unveiled last week by U.S. Democratic Sens. Chuck Schumer and Joe Manchin lifts the
Car dealerships have been mom and pop businesses for much of their existence. But the industry is slowly consolidating. Six publicly traded dealership groups — AutoNation, Lithia Motors, Group 1 Automotive, Sonic Automotive, Penske, and Asbury Automotive Group — have been on a shopping spree in recent years, buying up a small but growing share of
10:55 AM ET ENGLEWOOD, Colo. — With the final step of the purchase of the Denver Broncos by a group led by Walmart heir Rob Walton set for Aug. 9, the Walton-Penner group has added another high-profile investor to its ranks. Walton announced Tuesday morning that seven-time Formula One champion Lewis Hamilton will now have
What kind of vehicle is the 2022 Tesla Model S? What does it compare to? The Tesla Model S is an electric sedan that offers supreme performance and a large interior. It competes with a slim set of luxury electric cars including the Mercedes-Benz EQS, Lucid Air, Audi E-Tron GT, and BMW iX. Is the
MILAN — Ferrari raised its forecasts for full-year revenue and profit after its order book hit new highs, as Portofino M and F8 models drove sales. “The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics,” Ferrari CEO Benedetto Vigna said
Looking to buy an electric vehicle right now? So is everyone else, apparently. In-stock dealer inventories of EVs are sparse at best, if not completely decimated, despite a lofty average transaction price north of $66,000. But don’t lose hope – there are relative bargains that price below $66,000, sell at close to MSRP, and are
A 16-year-old teen driver was arrested following a high-speed collision in Minnesota caused by a stolen Dodge Charger. The car was doing over 140 mph (225 km/h) according to the officer who unsuccessfully tried to stop it by throwing a stop stick prior to the crash. The incident happened on Friday evening in St. Paul,
WASHINGTON — Stellantis’ U.S. unit, the former Fiat Chrysler Automobiles, was sentenced Monday after pleading guilty in June to criminal conspiracy and will pay nearly $300 million to resolve a multi-year U.S. Justice Department diesel-emissions fraud probe. FCA US LLC, formerly Chrysler Group LLC, previously struck a plea agreement with the Justice Department and agreed
In this article F 2023 Ford F-150 Raptor R Ford DETROIT — Ford Motor’s stock on Monday added to its best month since the Great Recession in 2009, signaling a significant swing for the Detroit automaker this year. Shares closed Monday at $15.34, up 4.4%. The gains added to the stock increasing by 31.9% in
Jul 29, 2022 Associated Press INDIANAPOLIS — Roger Penske added another major event to Indianapolis Motor Speedway for 2023 with the return of the IMSA sports car championship. The “IMSA Battle on the Bricks” will bring the NASCAR-owned series to Indy’s 14-turn, 2.439-mile road course for a 160-minute race. The event scheduled for Sept. 17
Tesla has so far had only one supplier for its Giga presses, Italy’s IDRA, but according to information from China, starting next year it will switch to a new manufacturer. Take this with a grain of salt for now as it is only a rumor, and even if true, it doesn’t necessarily mean IDRA will
PARIS — Plastic Omnium will buy Hella’s 33 percent stake in the HBPO joint venture, which makes front-end modules, for 290 million euros ($295 million), the two companies have said. The move will give Plastic Omnium full ownership of the joint venture, which was established in 2004 with a third partner, Behr (later a part
Bentley on Monday unveiled a one-off Continental GT Speed convertible for the SagerStrong Foundation, founded by the late sportscaster Craig Sager and his wife Stacy to fund blood cancer research. Slated to be auctioned off early next year to benefit that research, the convertible wears an eye-catching color scheme inspired by Sager’s colorful wardrobe. The
Canadian police announced this week that, following a multi-jurisdictional investigation, they have charged 28 people with 242 offenses related to a vehicle theft and resale ring in the province of Ontario. According to CBC, the Ontario Provincial Police have recovered 214 vehicles that all together are worth an estimated $12 million ($9.36 million USD at
An Illinois judge on Friday granted Carvana Co.‘s request to halt the Illinois Secretary of State’s latest revocation of its license to sell vehicles in the state. The development comes days after the regulatory agency re-suspended Carvana’s dealer license, a move aimed at prohibiting new sales by the online used-vehicle retailer. The agency at the
In this article RMO NKLA Nikola Motor Company Two truck Source: Nikola Motor Company Electric heavy truck maker Nikola said Monday that it struck a $144 million deal to acquire battery pack supplier Romeo Power, giving the company control over a key part of its supply chain. The all-stock transaction values Romeo at 74 cents
Jul 29, 2022 Associated Press INDIANAPOLIS — Josef Newgarden kept the focus simple all week. He ignored the cellphone, avoided social media and spent 48 hours resting, hopeful it would help him recover from the head injury he suffered last weekend and stay in the IndyCar championship hunt. Now all he needs is another strong
What kind of vehicle is the 2023 Cadillac XT5? What does it compare to? With the XT5, Cadillac has a stylish five-seat crossover SUV that competes against the BMW X3 and Mercedes-Benz GLC-Class, among others. Is the 2023 Cadillac XT5 a good SUV? Review continues below While not as fun to drive as its European
Israeli startup REE Automotive and commercial vehicle builder J.B. Poindexter & Co. launched live demonstrations of their Proxima proof-of-concept electric delivery van last week. It is the first fully drive-by-wire walk-in van, the companies said. The demonstrations are a significant milestone for REE, whose electric chassis and drive-by-wire technology underpin the van. The body was
By Simon Alvarez Posted on July 31, 2022 In 2018, Tesla launched a novel reward as part of its updated referral program. The reward was simple but unique — new owners with one qualifying referral would have the chance to send a photo of their choice to space. The image would be launched in a
Opel/Vauxhall has named Christophe Mandon as head of sales, succeeding Florian Huettl, who was promoted CEO of the Stellantis unit in May. Mandon is currently responsible for commercial management of all Stellantis brands in the Africa/Middle East region. He will report to Huettl, who had been in the CEO role since January, Opel said in a news release.
Early this month, thieves broke into a Brinks security truck and took millions of dollars worth of jewelry, watches, and gems. After an initial report from Brinks itself, new information is coming to light and it seems to indicate that this wasn’t just any heist; in fact, it might be one of the biggest in
The uncertainty of the global microchip shortage continued to eat away at many automakers’ profits in the second quarter, though some companies managed sizable increases in production and earnings. Most automakers that reported earnings last week said they expect better chip supplies in the second half of the year and remained profitable despite stubbornly low
In this article F Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland Ford Motor Company said that its adjusted operating income more than tripled from a year ago, to $3.7 billion, as it was able to deliver more
8:25 PM ET Associated Press KENT, Wash. — Tony Schumacher raced to his 86th victory and first since 2020, beating Top Fuel points leader Brittany Force on Sunday in the Flav-R-Pac NHRA Northwest Nationals at Pacific Raceways. Schumacher, 52, had a 3.977-second run at 251.34 mph against Force in the final for the eight-time season
Hyundai Motor Group has mastered the highways and byways on land and has even founded a company to make electric air vehicles that will take to the sky. Now, Hyundai and Kia aim to slip the surly bonds of Earth. The South Korean automakers said last week that they’ll collaborate with a group of research