Month: August 2023

Top executives at Shift Technologies Inc. said Thursday the used-vehicle retailer sought to urgently improve operations efficiencies in the second quarter and is evaluating “all avenues” to raise capital. Shift CEO Ayman Moussa, who spoke during the company’s quarterly earnings call Thursday, said he determined it was critical to change the course of the business
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Associated Press Aug 11, 2023, 06:54 PM ET The long contractual saga surrounding IndyCar championship leader Alex Palou took another wild twist Friday when the head of McLaren Racing told his team the Spaniard has “no intention of honoring his contract” with the team next year. In a letter sent to the Arrow McLaren Racing
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In this article CARS 7270.T-JP 6201.T-JP IHEB-AU 7203.T-JP Follow your favorite stocksCREATE FREE ACCOUNT There are more than 275 million cars on the road in the U.S. But in recent years, car ownership has gotten more expensive than ever — due to the Covid-19 pandemic, supply chain issues, stubborn inflation and the Federal Reserve’s interest
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Ford is postponing the European market launch of the Explorer, its first all-electric volume model in the region, by about six months. Instead of arriving in showrooms at the beginning of next year, the compact SUV is now scheduled to roll out in the summer of 2024. Ford cited new European standards for batteries as
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Rivian is preparing some interesting software updates for its all-electric R1T pickup and R1S SUV, according to the company’s head of software development, Wassym Bensaid. Making a surprise appearance on the EV startup’s call with analysts on Tuesday, Bensaid promised upgrades ranging from adaptive tracking of battery range to a so-called “drone mode” that would
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General Motors and Ford Motor Co. were among the biggest decliners in the U.S. stock market Thursday on growing concern that demands from union leaders could send the automakers’ labor costs soaring. The UAW is calling for wage increases and other changes that the Detroit 3 estimate would add more than $80 billion in expenses for
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Rivian Automotive Inc.’s head of software made a surprise appearance on the EV maker’s Tuesday call with analysts, promising upgrades ranging from adaptive tracking of battery range to “drone mode” operation using augmented reality. “We believe that our software capabilities are a structural differentiator that will only grow in importance as electric vehicles continue to
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In this article RIVN Follow your favorite stocksCREATE FREE ACCOUNT Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Tuesday reported a loss for the second quarter that was narrower than expected and raised its production guidance for the
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Aptiv does not expect semiconductor prices to cool off in the near future. Even though supply-chain challenges are easing, prices of certain parts remain high, denting profits, the supplier says. The company said the “real challenge” is in obtaining chips, whose prices have risen 25 percent to 30 percent, while supply chains remain tight. The
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Over 30 Cars Pulled Out Of South Florida Lake | Carscoops Some of the vehicles could be linked to cases dating back many decades August 9, 2023 at 19:08 Volunteer divers searching for long-lost missing persons found over 30 cars in a lake in Doral, Florida. Police then swooped in to begin the extraction process
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Listen to a recap of the top stories of the day from Electrek. Quick Charge is available now on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players. New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee
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CarGurus Inc.’s net income continued its double-digit percentage nose-dive in the second quarter, dropping 23 percent to $13.8 million, the company said Wednesday, nearly a week after it was initially slated to report quarterly results. The vehicle listings company said overall revenue tumbled by 53 percent to $239.7 million and digital wholesale revenue plunged 80
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In this article GM Follow your favorite stocksCREATE FREE ACCOUNT 2025 Cadillac Escalade IQ GM NEW YORK – Twenty-five years after the Cadillac Escalade launched General Motors into large, highly profitable luxury SUVs, the Detroit automaker is hoping a new all-electric version of the vehicle will ignite the same success for a new generation of
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