Asbury Automotive Group Inc. generated record net income of $201.4 million during the second quarter, bolstered by dozens of new Larry H. Miller Dealerships locations it purchased at the end of 2021. That translated to a net income gain of 32 percent compared with the second quarter of last year, Asbury reported Thursday. Asbury’s revenue
Month: July 2022
In this article F TSLA An unknown automaker, VinFast, which was founded just a few years ago in Vietnam, is landing in the United States hoping to take on giants like Tesla. Its founder, Pham Nhat Vuong, made his first fortune in dried ramen noodles and has since become Vietnam’s richest person and owner of
Rolls-Royce has provided an update on its first electric vehicle, the Spectre, which is due on sale in late 2023. The car is a big coupe that Rolls-Royce bills as the spiritual successor to the Phantom Coupe, and it’s set to introduce several firsts for the brands beyond just the powertrain. Prototypes are being put
Now that the US Senate has an agreement on the reform of the federal tax credit for electric vehicles, it looks like it might finally happen after roughly two years of work. Though it’s still pending a vote. But it does bring up an interesting question: Will it make EV sales crash until the end
Sales of plug-in hybrid vehicles are faltering in Europe, which has been their most important market to date, while demand is rising for for full-electric vehicles. As consumers turned away from diesel cars after Volkswagen’s diesel scandal and Europe’s lawmakers toughened emissions regulations, some automakers bet heavily on plug-in vehicles, which are powered by an
1:59 PM ET It wasn’t the Brickyard 400, but AJ Allmendinger still kissed the bricks after winning at Indianapolis last season. Stacy Revere/Getty Images The Brickyard is the Brickyard no longer. Yes, the race still has the word in the title — the Verizon 200 at the Brickyard. Indy is still Indy and Indy will always
What kind of car is the 2023 Chevrolet Colorado? What does it compare to? The Chevy Colorado is a mid-size pickup truck related to the GMC Canyon. It competes not just with the Nissan Frontier and Ford Ranger, but also smaller trucks such as the Ford Maverick and Hyundai Santa Cruz and full-size trucks such
Police in Riverside, California have arrested a 32-year-old man after he led them on a chase in a stolen Amazon delivery van. The incident kicked off at approximately 5:15 p.m. on July 25 when authorities were notified of two home-invasion robberies at a mobile home park in the 2900 block of Atlanta Avenue. Before police
DETROIT — In a break from tradition, UAW President Ray Curry will not deliver a state of the union speech at the organization’s 38th constitutional convention, which is set to adjourn Thursday afternoon here. Curry’s speech, which was originally planned at the end of the convention’s first day, had already been delayed three times. “By
Volkswagen Group’s China unit, exploring concepts for future mobility services, unveiled a prototype of a full electric and automated drone at its headquarters in Beijing. The prototype, capable of vertical take-off and landing, has an X-shaped wing with a span of 10.6 meters. It features eight rotors for vertical lift and two propellers for horizontal
In this article AMZN RIVN Rivian CEO RJ Scaringe and Amazon CEO Andy Jassy tour one of the company’s electric delivery vans. Amazon Amazon’s stake in electric vehicle maker Rivian Automotive was once worth $27 billion. That was in November, shortly after Rivian’s IPO, which took place just before the Nasdaq peaked. But with investors
During the second quarter of 2022, Panasonic increased sales of its Energy division to 227.8 billion yen ($1.68 billion), which is up 21% year-over-year (5% in real terms, excluding the effect of exchange rates). The company reports sales growth of automotive batteries, associated with robust EV demand, which offsets a decrease in other segments. Specifically,
Apple has enlisted one of Lamborghini’s top car-development managers in a sign that it’s stepping up work on a self-driving electric vehicle, according to people with knowledge of the situation. The company hired Luigi Taraborrelli, a 20-year veteran of the Italian brand, to help lead the design of Apple’s future vehicle, said the people, who
10:36 AM ET Associated Press The fight over IndyCar champion Alex Palou is headed to court as Chip Ganassi Racing filed a lawsuit in Indiana against the Spanish driver who is attempting to leave the team at the end of the season. Palou is in his second season driving for Ganassi. The team owner said
What kind of car is the 2023 Hyundai Ioniq 5? What does it compare to? The Ioniq 5 five-door electric hatchback has more than 300 miles of battery range in its top model, pitting it against the Tesla Model Y, Volkswagen ID.4, and Ford Mustang Mach-E. Is the 2023 Hyundai Ioniq 5 a good car?
Ford CEO Jim Farley took to Twitter on Wednesday to confirm the debut of the redesigned Ford Mustang on September 14. The debut will take place at a revamped Detroit auto show that will be run more like a festival than a traditional auto show. Sales should follow in 2023, meaning we’re likely to see
WASHINGTON — A breakthrough deal between U.S. Sens. Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, according to people familiar with the matter, a big win for EV-makers like General Motors, Tesla Inc. and Toyota Motor Corp. The credit will be included in
TOKYO – Hyundai Motor Group has mastered the highways and byways on land and has even founded a company to make electric air vehicles that will take to the sky. Now, Hyundai and Kia aim to “slip the surly bonds of earth.” The South Korean automakers said Wednesday they will collaborate with a group of
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