Month: June 2023

New vehicle inventory might never return to pre-COVID levels, according to Cloud Theory. Both inventory and sales initially plummeted when the pandemic began in March 2020, but while sales recovered rapidly and even surpassed pre-pandemic levels in the ensuing months, inventory continued to droop, falling below 1 million by fall 2021. Inventory has climbed back
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TOKYO – Japanese electronics and battery giant Panasonic, a key supplier to Tesla Inc., is planning a massive ramp up to quadruple its battery manufacturing capacity and boost the energy density of its battery 25 percent by the end of the decade as it readies for the electric vehicle age. As part of the expansion,
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Elon Musk is the wealthiest person in the world again. Michel Euler | AFP | Getty Images Elon Musk is the richest person in the world again, according to Bloomberg Billionaires Index’s updated figures Thursday. The Tesla CEO saw his wealth jump 40.3% this year to $192 billion, after shares of the electric car maker
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MONACO — Carlos Sainz said he should not have openly criticised Ferrari during the Monaco Grand Prix, even though he still thought after the race his team’s strategy had been needlessly cautious. Sainz was frustrated with his team’s pit call during the dry portion of the Monaco race, when he was hoping to gain a
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Ford Motor Co. on Tuesday said it is adding Escape crossovers to its roster of mobile service vehicles, in addition to Transit vans, so dealers can expand their reach and more quickly address recalls and other issues. The automaker said that by year end, its retailers will launch 1,000 Escapes for light maintenance and repair
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