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As disruptive as the global supply shortages of microchips continue to be for auto production schedules, the outlook just brightened a notch. AutoForecast Solutions, which has tracked lost vehicle production weekly since the chip shortage began in 2021, has lowered its estimate for total 2023 factory cuts. All year long, the firm has held to

Elon Musk, CEO of Tesla, speaks with CNBC on May 16th, 2023. David A. Grogan | CNBC Twitter suspended the accounts of Plainsite and its founder Aaron Greenspan, a prolific Tesla and Elon Musk critic, on Tuesday afternoon. Plainsite is an online database that makes state and federal court filings and other public records available

Associated Press Jun 18, 2023, 05:02 PM ET ELKHART LAKE, Wis. — Alex Palou built on his commanding lead in the IndyCar points standings by winning Sunday at Road America for his third title in his past four events. Palou won for Chip Ganassi Racing by 4.5610 seconds over Team Penske’s Josef Newgarden, who won

Lithia Motors Inc. last week took a significant step toward reaching its expectation to add $4 billion in revenue in 2023 via acquisitions, with the purchase of 14 franchised dealerships from Dennis Ellmer of Priority Auto Group in Virginia. The June 12 Priority Auto acquisition, which included domestic, import and luxury brands, is expected to

In this article MSFT MBG-DE Follow your favorite stocksCREATE FREE ACCOUNT The Mercedes-Benz EQS SUV. Mercedes-Benz Mercedes-Benz and Microsoft are partnering to test in-car ChatGPT artificial intelligence, available to more than 900,000 vehicles in the U.S., the companies announced Thursday. The luxury automaker said the emerging technology will be used for audio requests through its

Jun 17, 2023, 08:50 PM ET Haas driver Nico Hulkenberg was one of the star qualifiers for the Canadian Grand Prix but a penalty for driving too fast under a red flag has relegated him off the front row of the grid. The penalty moves Aston Martin’s Fernando Alonso up to second position alongside Max

Striking workers at a Constellium aluminum parts plant near Detroit and a Clarios battery plant near Toledo both ratified new contract agreements Friday. Union members at the Constellium plant in Van Buren Township, Mich., represented by UAW Local 174, ended the strike that began May 17. The plant supplies aluminum components to Ford. Workers at

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Be ready for a sell-off Stick with Ford Don’t invest based on fear 1. Be ready for a sell-off U.S. stocks rose Friday, adding to strong weekly performances for all

Associated Press Jun 17, 2023, 12:38 PM ET ELKHART LAKE, Wis. — Reigning IndyCar champion Will Power shoved Scott Dixon after the two were involved in a crash Saturday that severely damaged both cars during practice at Road America. Dixon, the six-time IndyCar champion, had spun on course and reentered the track ahead of Romain

This month, the Detroit auto show beat back whispers of its potential demise with a bold press release promising that September’s event would have “double the number of brands participating.” While it was good to get confirmation of the Motor City’s 2023 exhibition, the participation claim was dubious on the face of it. Upon further

Simon2579 | E+ | Getty Images Auto insurance premiums have been among the fastest-rising prices for consumers over the past year, according to federal data — a dynamic that might seem at odds with car prices, which are broadly trending lower. So, what’s going on? In short: Auto insurance prices generally track those in the

While car dealerships often lean on their service and parts businesses to maintain profitability, the technicians who do the work can sometimes go unnoticed, overshadowed by a greater focus on vehicle sales. Richmond Ford Auto Group in Virginia was looking to level out the imbalance by recognizing its nearly 60 technicians with individualized banners that

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France.  Chesnot | Getty Images Tesla CEO Elon Musk

MONTREAL – A bizarre CCTV issue curtailed the first practice session for the Canadian Grand Prix on Friday. Fans were left sat in the grandstands at the Circuit Gilles Villeneuve as F1 teams and drivers watched on waiting for the issue to be fixed. The cameras were not synced correctly to what was happening on

Nikola Corp. said on Friday it would lay off a total of 270 employees, as the electric-truck maker looks to cut costs and sharpen its focus on the North American marketplace. Of the 270 employees impacted, 150 were supporting Nikola’s European operations and 120 were based at its sites in Phoenix and Coolidge, Ariz. The

In this article TM 7203.T-JP Follow your favorite stocksCREATE FREE ACCOUNT Akio Toyoda, president and CEO of Toyota Motor Corp. Kiyoshi Ota | Bloomberg | Getty Images DETROIT – Toyota Motor stock sealed its best week since 2009 on Friday, as the automaker laid out a robust plan for future all-electric vehicles and company scion

MONTREAL — Max Verstappen said he has no interest in Red Bull completing an unbeaten season if he wins his third championship this year. No F1 team has won every race in a calendar season but the dominant nature of Red Bull’s seven victories this year has led to speculation they can be the first.

Three of the largest auto dealerships in the country, including a publicly traded retailer, expanded their footprints with first- and second-quarter acquisitions, while a regional group bolstered its presence in Ohio in February. Here’s a look at the deals involving luxury, import and domestic dealerships in Kansas, Ohio and California. Three transactions involved auto retailers