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
Month: July 2022
With one conspicuous omission, everything and everyone that moves on San Francisco’s streets fall under the purview of Jeffrey Tumlin. The director of transportation for the San Francisco Municipal Transportation Agency is responsible for the city’s municipal railway, traffic engineering, bicycle and pedestrian safety, taxi regulations, accessibility and more. Yet Tumlin is a bystander with
In this article F Jim Farley, Ford CEO Ford Electric vehicle batteries are in short supply, and costs for materials such as nickel and cobalt are surging. Yet legacy automaker Ford Motor says it plans to be profitably building millions of EVs a year in just four years. This week, the Detroit automaker gave investors
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Next.e.GO Mobile, a German maker of compact electric vehicles, is going public through a merger with a blank-check firm to create a company valued at $913 million, including debt. The deal will provide e.GO with about $285 million of proceeds, assuming investors do not redeem their shares, according to a statement Thursday, confirming a Bloomberg
Van Horn Automotive Group has had a digital retailing presence since before the pandemic began in 2020, with the goal of selling vehicles to consumers entirely online. The group, with 19 dealerships in Wisconsin and Iowa, initially drew on its established brand name and called its offering Van Horn Direct. But the process turned out
The European passenger car market noted a significant 17% year-over-year decrease in June, mostly due to a limited supply of new cars, but there are also some other challenges ahead related to the general economy. Unfortunately, even the plug-in car segment was down. According to EV Volumes‘ data, shared by Jose Pontes, roughly 220,000 new
9:25 PM ET Associated Press KENT, Wash. — Top Fuel leader Brittany Force closed qualifying at Pacific Raceways on Saturday by taking the No. 1 position in the NHRA Northwest Nationals. The event winner last week in Sonoma, California, Force had a 3.753-second run at 327.35 mph for her fifth No. 1 of the season
What kind of vehicle is the 2023 Cadillac XT4? What does it compare to? The 2023 Cadillac XT4 is a small SUV that competes with the Audi Q3 and BMW X1. Is the 2023 Cadillac XT4 a good SUV? Review continues below The 2023 Cadillac XT4 does well overall, with good acceleration and a comfortable
A family in Florida is reeling after receiving a massive quote to replace the batteries in their second-hand electric vehicle. The family was quoted more than they paid for their used 2014 Ford Focus Electric. The Focus Electric was purchased for Avery Siwinski, a 17-year-old who was excited to have a car to get her
Retail technology giant Reynolds and Reynolds Co. on Friday acquired Proton Dealership IT, which offers dealerships cybersecurity and information technology products and services. Reynolds, a Dayton, Ohio-based dealership management system provider, did not disclose a transaction price. Leaders of the two companies said they began speaking about a potential acquisition in March. Reynolds’ deal to
Ford Motor (F) reported better-than-expected quarterly results after the closing bell Wednesday, and raised its dividend payout by 50%, helping send shares more than 6% higher in extended-hours trading. Total revenue of $40.2 billion exceeded the consensus estimate on FactSet of $36.87 billion. Adjusted EBIT (earnings before interest and taxes, or operating income) was $3.7
The Mercedes-Benz Vision EQXX concept is a sleek electric sedan with an air-cooled battery pack, 900-volt electrical architecture, and real-world range of well over 600 miles. We drove it this week and found it to be a lot of fun behind the wheel. 2024 Maserati GranTurismo Folgore spy shots – Photo credit: S. Baldauf/SB-Medien A
By Johnna Crider Posted on July 30, 2022 Tesla and Drive.ai are top key players in the Intellgent Driving market according to a new Global Intellgent Driving Market report. The report gives an overview of the 2021 growth of Intellgent Driving and how that growth has significant changes from the previous year as our global
MILAN — Italy’s Alfa Romeo will work on a new large-size car in the United States to be launched in 2027, the brand’s head Jean-Philippe Imparato said on Friday, adding however the group had not yet decided where to manufacture it. Imparato said the step was key to tailoring the design for overseas markets, helping
6:16 PM ET Associated Press INDIANAPOLIS — AJ Allmendinger continued his dominance of NASCAR road course racing and set himself up for a sweep at Indianapolis Motor Speedway with a victory Saturday in the Xfinity Series. Allmendinger has won six of the past 11 road course races — nine in his NASCAR career — and
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
Buckeye Honda has worked to overcome inventory shortages by creating an interactive research hub where online shoppers can get an up-close look at a vehicle even if it’s not in stock. The Lancaster, Ohio, dealership deployed a virtual configurator on its site this spring called izmoEmporio that lets users personalize new Honda models with accessories
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