In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Tesla CEO Elon Musk speaks at a delivery ceremony for Tesla China-made Model 3 in Shanghai, east China, Jan. 7, 2020. Ding Ting | Xinhua News Agency | Getty Images Elon Musk said that a Chinese automaker is likely to be the closest competitor to
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5:33 PM ET Associated Press DAYTONA BEACH, Fla. — Bryan Herta wants to enter Robert Wickens in the Indianapolis 500 as early as 2024 — a year later than preferred as work continues on the hand controls needed for the paralyzed driver. Wickens suffered a spinal cord injury in a crash at Pocono Raceway in
American Honda Motor expects to increase its sales volume 25 percent this year over its disappointing 2022 performance, which resulted in under 1 million vehicle sales in the U.S. market and a last place finish among the top U.S. manufacturers. Honda brand projects it will close 2023 around 1.2 million sales, and Acura is targeting
In this article VOW3-FF Follow your favorite stocksCREATE FREE ACCOUNT Audi Activesphere EV concept Audi Audi’s new concept vehicle is an all-electric luxury SUV that uses augmented reality glasses and can double as a small pickup truck, signaling potential future technologies for the Volkswagen luxury brand. The rear glass of the “Activesphere” vehicle can slide
4:37 AM ET Sauber managing director Alessandro Alunni Bravi has been appointed as team representative for the Alfa Romeo Formula One team — a role similar to a traditional team principal. Former CEO and team principal Fred Vasseur left Alfa Romeo at the end of last year to join Ferrari, with McLaren team principal Andreas
The U.S. auto industry is expected to suffer a massive decline in total dealership gross profits this year, but it is still expected to finish with the third-best profit level in history as the industry rebalances itself, says Thomas King, president of data and analytics for J.D. Power. Speaking Thursday at the J.D. Power Auto
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023. Marlena Sloss | Bloomberg | Getty Images Tesla shares rose as much as 11% on Thursday morning, after beating on the top and bottom lines,
12:18 PM ET The No. 60 Meyer Shank Racing Acura ARX-06 will start this weekend’s Rolex 24 At Daytona from pole position. Brian Cleary/Getty Images At its peak in the late 1980s and early 1990s, the International Motor Sports Association’s Grand Touring Prototype machines gave IndyCar absolute fits. The Andrettis were there, Mario and Michael, as
Tesla’s deep price cuts earlier this month have boosted demand beyond the automaker’s ability to make its cars fast enough, but volume production of the highly anticipated Cybertruck pickup won’t come until 2024, CEO Elon Musk said on Wednesday’s quarterly earnings call. “The most common question we’ve been getting from investors is about demand,” Musk
In this article 8TRA-DE VOLV.B-SE PCAR DTG-DE Follow your favorite stocksCREATE FREE ACCOUNT Semitruck makers have seen record demand for trucks in recent months and have pivoted from managing extremely tight supply constraints to filling orders now that parts are starting to flow more freely. “Demand for trucks is, I would say, unprecedented,” said David
6:16 AM ET McLaren is Formula One’s ultimate sleeping giant, but team CEO Zak Brown thinks it will have all the tools in place to compete for championships by 2025. Daniel Ricciardo‘s 2021 Italian Grand Prix win is McLaren’s only victory since the final race of the 2012 season, while the team’s last drivers’ championship
Dealers and automakers so far have an incomplete picture of how the new EV tax credits in the Inflation Reduction Act will be applied. Our LinkedIn live chat at 11 a.m. Eastern on Thursday will unpack some of the details. Join Executive Editor Jamie Butters live from Dallas ahead of our Retail Forum: NADA, reporter Audrey
Maskot | Maskot | Getty Images Getting a $7,500 tax break for the purchase of a new electric vehicle will likely get harder in a few months — meaning prospective buyers who want the financial incentive may wish to speed up their timeline. The Inflation Reduction Act, a historic climate law President Biden signed
Tesla Inc. said it plans to invest $3.6 billion in two new factories to build electric vehicle batteries and its all-electric Semi heavy-duty truck near an existing production site in Reno, Nev. The new battery operation will make Tesla’s latest so-called 4680 cells with capacity for use in as many as 2 million vehicles a
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT An aerial view of the Tesla Gigafactory near Sparks, Nevada Bob Strong | Reuters Tesla plans to spend $3.6 billion more on expanded battery and heavy duty truck manufacturing in Nevada, the company said Tuesday on social media. According to its public statements, Tesla intends
11:11 AM ET The owners of Formula One have accused FIA president Mohammed Ben Sulayem of “interfering” in the commercial rights of the sport in an “unacceptable manner” after he passed comment on the value of F1 on Twitter. In a series of tweets on Tuesday, Ben Sulayem reacted to a Bloomberg report that Saudi
Ford is in talks with Chinese electric-vehicle maker BYD over the sale of its Saarlouis plant in Germany, the Wall Street Journal reported, citing people familiar with the matter. Ford will end production of the Focus compact car at the plant in in 2025 as the company shrinks its passenger car lineup in Europe to
In this article UBER Follow your favorite stocksCREATE FREE ACCOUNT Uber Freight Uber Freight has laid off 150 employees, or about 3% of the segment’s total head count. The layoffs affect the division’s digital brokerage team, Uber Freight CEO Lior Ron said Monday in a message viewed by CNBC. They are the first layoffs since 2020,
SAN FRANCISCO – Elon Musk told jurors on Monday he was sure he had locked up financial support from Saudi investors in 2018 to take his electric car maker Tesla Inc. private, and could even have used his stake in rocket company SpaceX to fund a buyout. At the trial in San Francisco federal court,
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Elon Musk speaks near a Falcon 9 rocket during his announcement that Japanese billionaire Yusaku Maezawa will be the first private passenger who will fly around the Moon aboard the SpaceX BFR launch vehicle. DAVID MCNEW | AFP | Getty Images Elon Musk told a San
WASHINGTON — U.S. auto safety regulators on Monday closed a six-year-old investigation into 1.47 million Ford Explorers over reports of exhaust odors in vehicle compartments and exposure to carbon monoxide without seeking a recall. NHTSA said it conducted an in-depth investigation that included review of more than 6,500 consumer complaints from 2011-2017 model year vehicles
With dealership inventory low during the pandemic and semiconductor shortage, selling cars came fairly easily to sales employees. Rather than work to convince a potential customer why he or she should buy a vehicle from their dealership and not from a competitor, sales reps often won a sale simply because the vehicle was available. And
Stellantis design chief Ralph Gilles has called the electric Ram 1500 Revolution concept unveiled this month a “totality of so many ideas.” One of those ideas, a third row with removable jump seats, would add a new wrinkle to the pickup segment if they make it into the production version of the Ram 1500 EV
In this article GM Follow your favorite stocksCREATE FREE ACCOUNT DETROIT – General Motors’ future may be in all-electric vehicles, but it still needs its current models to pay the bills to allow it to invest in those new products. That’s one of the reasons why the automaker on Tuesday revealed the 2024 Chevrolet Corvette
Tesla Inc. CEO Elon Musk played down how much impact his tweets have on the company‘s stock price as he defended himself at a trial over his 2018 tweet about taking the electric car-maker private. “It’s difficult to say the stock price is linked to the tweet,” he told jurors Friday in San Francisco federal
In this article GM Follow your favorite stocksCREATE FREE ACCOUNT Line workers work on the chassis of full-size General Motors pickup trucks at the Flint Assembly plant on June 12, 2019 in Flint, Michigan. JEFF KOWALSKY / AFP / Getty Images FLINT, Mich. — General Motors plans to invest nearly $1 billion in four U.S.
10:38 PM ET Associated Press CHARLOTTE, N.C. — Two-time Daytona 500 champion Matt Kenseth finally reached the top rung of his career on Friday night when he was inducted into the NASCAR Hall of Fame. The 50-year-old Kenseth, who drove 18 full seasons in NASCAR before retiring in 2020 with 39 Cup victories and 20
When Todd O’Reilly decided to open a 34,000-square-foot Ford showroom with an 11-acre vehicle lot roughly two years ago, he knew he needed a top-notch security system. O’Reilly, co-owner and general manager of Gjovik Ford in Plano, Ill., figured a sophisticated system of cameras and alarms was necessary to deter would-be criminals from stealing or
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Alex Spiro, attorney to Elon Musk, center, departs court in San Francisco, California, US, on Tuesday, Jan. 17, 2023. Benjamin Fanjoy | Bloomberg | Getty Images Tesla CEO Elon Musk appeared in a San Francisco federal court on Friday to defend tweets he posted to his
A federal jury has found two Napleton Automotive Group employees guilty of warranty fraud in a yearslong lawsuit between Hyundai Motor America and the dealership group’s West Palm Beach Hyundai store. But Hyundai will not be awarded damages because it engaged in wrongdoing that gives the automaker “unclean hands,” the jury ruled Thursday. The case
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