Month: January 2023

DETROIT — General Motors‘ chief economist is optimistic about the health of the economy and Michigan‘s position to win more business — including from GM. That’s despite results of the Michigan Economic Outlook Survey, released last week, showing a declined sentiment among companies toward the business environment in Michigan. “I think not only are we

WASHINGTON — The U.S. Treasury Department’s attempt last month to clear up confusion on the Inflation Reduction Act’s revised $7,500 tax credit for new electric vehicles has instead stirred up more questions than answers for car dealers seeking to better understand its maze of rules and timelines. With new restrictions on sticker price and buyer

12:53 PM ET ESPN News Services DAMMAM, Saudi Arabia — Nasser Al-Attiyah won a second straight Dakar Rally just kilometers from his Qatar homeland on Sunday. His fifth Dakar title eclipsed Ari Vatanen’s total and was second only to Stephane Peterhansel, the Dakar’s greatest champion with 14 wins, eight in the premier car category. Al-Attiyah

The Dodge Dart has been dead since 2016 and the Chrysler 200 since 2017. But Stellantis dealerships managed to find first owners for four Darts and two 200s in 2022. They’re among six examples found by Kelley Blue Book of what it called “zombie cars” — nameplates that had been killed by automakers but came

A customer looks at a vehicle at a BMW dealership in Mountain View, California, on Dec. 14, 2022. David Paul Morris | Bloomberg | Getty Images DETROIT — Wall Street and industry analysts remain on high alert for signs of a “demand destruction” scenario for the U.S. automotive industry this year as interest rates rise

DETROIT — There is something broken at manufacturing plants across the auto industry, and it isn’t just the supply chain. Employee morale has suffered profoundly as industry troubles over the past three years, including staffing shortages, production volatility and recession fears, weigh on the workforce, according to labor leaders and experts. The issue was brought

If you haven’t shopped for a car lately, brace for sticker shock. Not only are vehicle prices at an all-time high, but the interest rate to finance a purchase has also jumped dramatically. A record 15% of new car buyers who financed a new car last quarter committed to a monthly payment of more than

Jan 13, 2023 Williams’ new principal James Vowles said after his appointment on Friday that the struggling former champions would be no Mercedes ‘B’ team in Formula One. Vowles will join next month from Mercedes, where he was head of strategy and part of Toto Wolff’s top management at a team that won a record

Proper Group Holdings LLC is planning to close its plastic tooling and molding plant near Detroit and lay off 130 workers due to financial hardship and a private equity takeover that went sideways. Proper Tooling will close its manufacturing plant in Warren, Mich., by March 31 after a series of employee terminations— unless it can

In this article GOEV FFIE RIDE RIVN FSR LCID TSLA Follow your favorite stocksCREATE FREE ACCOUNT Pedestrians walk past the Tesla Motors official authorized car dealer store in Hong Kong. Sopa Images | Lightrocket | Getty Images Is the first electric-vehicle recession here, or coming soon? As electric-car stocks plummeted in late 2022, the rout

Jan 12, 2023 Ferrari have terminated a Formula One sponsorship deal with Swiss blockchain technology company Velas, the team said on Thursday. The Zug-based company became a partner of the Italian racing team last season, with branding prominent on the cars’ rear wings, as part of a multi-year deal. Velas was also title sponsor of