After losing nearly $1 billion in the first half of 2022, Carvana Co. will do more to cut expenses in the coming months, including possibly further reducing employee counts at the online used-vehicle retailer. That direction from company leaders comes after Carvana already worked on cost-cutting in its second quarter, notably announcing in May that
Month: August 2022
TRAVERSE CITY, Mich. — Greg Brannon’s message to the auto industry is probably not what many technology suppliers want to hear these days. It’s that the industry’s race to fully automated driving is misguided, and most consumers don’t want it. Brannon, director of automotive engineering and industry relations for the membership-based driver services organization AAA,
In this article TSLA Brand new Tesla cars sit in a parking lot at a Tesla showroom on June 27, 2022 in Corte Madera, California. Justin Sullivan | Getty Images News | Getty Images The California Department of Motor Vehicles has accused Tesla of engaging in deceptive practices around the marketing of its driver assistance
The Dodge Charger and Challenger replacements will go electric, the 2023 Ford Maverick Tremor debuted, and 2023 marks the end for the Nissan Maxima. It’s the Week in Reverse, right here at Motor Authority. Despite a recent report to the contrary, the Dodge Charger and Challenger replacement will be electric only with no V-8 engine
By Joey Klender Posted on August 5, 2022 Lordstown Motors (NASDAQ: RIDE) reaffirmed its plans to start production of the Endurance all-electric pickup during the third quarter of 2022 while reporting its Earnings for Q2 earlier this week. In the company’s Q2 Shareholder Deck, it listed several outlooks for the future as Lordstown has struggled
The shortages of computer chips that forced global automakers to scrap production plans for millions of vehicles over the past two years are easing — at a new and permanent cost to the car companies. What had been “war room operations” to manage chip shortages are becoming embedded features of vehicle development, say executives in
12:20 PM ET McLaren has told Daniel Ricciardo it intends to replace him with Formula 2 champion Oscar Piastri next season, a source close to the Australian driver has confirmed to ESPN. ESPN understands Ricciardo was informed of the decision by team boss Andreas Seidl after the Hungarian Grand Prix on Sunday evening and is
What kind of car is the 2023 Buick Envision? What does it compare to? The Envision compact crossover SUV has a similar footprint as the Chevy Equinox but is as roomy as the Cadillac XT4 in GM’s crossover family. It competes with premium compact crossovers such as the Volvo XC60, Lincoln Corsair, and Lexus NX.
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Auto supplier Dana Inc. said net income dropped by nearly 85 percent in the second quarter, reflecting lower operating earnings caused by the unfavorable impact of foreign currency values, a spike in costs and supply chain challenges. Dana reported net income of $8 million — a drop of $45 million from a year earlier. The
Lyft Inc. saw an earnings record and increased revenue in the second quarter amid news that the ride-hailing company laid off approximately 60 employees because of the discontinuation of its first party rental service. The San Francisco-based company said in its second-quarter earnings report Thursday that revenue rose 30 percent to $990.7 million, but income
In this article NKLA NKLA Nikola Motor Company Source: Nikola Motor Company Nikola on Thursday reported revenue for the second quarter that beat Wall Street expectations as it delivered 48 of its electric heavy trucks. The company also reported a smaller-than-expected loss for the period. Here’s what the company reported compared with what Wall Street
Finnegan and Freiburger attempt to get a bucket-list ’66 Corvette — abandoned halfway through an LS swap and restoration — back on the road. With multiple iterations and attempts, the ‘Vette hasn’t been on the road for 30 years. Will the guys change that? #roadkill #motortrend #corvette MotorTrend is the ultimate streaming destination for gearheads
The BMW i4 eDrive40 delivered to my door by BMW looks almost indiscernible from a 4-series internal combustion engine vehicle. It even has what appear to be exhaust pipes out the back. I imagine the pitch for this car in some Bavarian BMW corporate office was something like: Look, Tesla is eating our lunch, let’s
Tesla CEO Elon Musk told shareholders that the EV maker will have an annual run rate of 2 million vehicles by the end of this year and will continue to build new factories to join the four it currently has in operation. Musk said Tesla could announce a new factory location as soon as this
3:25 PM ET Associated Press NASHVILLE, Tenn. — One piece of IndyCar’s silly season fell into place Thursday when Rinus VeeKay announced a multi-year extension with Ed Carpenter Racing. The 21-year-old Dutchman said on Twitter he was staying in the No. 21 Chevrolet, and unlike recent contract dealings in both IndyCar and Formula One, this
We have seen plenty of footage showing cars with autonomous tech testing on public roads but the latest video from DeepRoute.ai is quite impressive, highlighting the sophisticated nature of the production-ready Level 4 capable Driver 2.0 system. The driverless prototype was tested in the city of Shenzhen in China under heavy traffic conditions, showing how
Carvana Co. said Thursday it posted a net loss of $439 million in the quarter ending June 30 — a far cry from its landmark $45 million profit one year ago but smaller than its $506 million first-quarter loss. The online used-vehicle retailer, which has been challenged in part by high used-vehicle prices, reported progress
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