In this article RIDE Follow your favorite stocksCREATE FREE ACCOUNT Lordstown Motors gave rides in prototypes of its upcoming electric Endurance pickup truck on June 21, 2021 as part of its “Lordstown Week” event. Michael Wayland / CNBC Lordstown Motors expects to end production of its Endurance pickup truck “in the near future,” as the
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Laurence Edmondson, F1 EditorMay 6, 2023, 08:19 PM ET Close • Joined ESPN in 2009• An FIA accredited F1 journalist since 2011 MIAMI — Mercedes boss Toto Wolff described his team’s car as “a nasty piece of work” after Lewis Hamilton qualified 13th for Sunday’s Miami Grand Prix. Mercedes struggled throughout qualifying Saturday, with Hamilton missing out
Four of the six publicly traded dealership groups in the first quarter posted lower year-over-year average finance and insurance gross profit per vehicle retailed the U.S. The drops were single-digit. Only two groups showed increases in the first quarter of 2023, with AutoNation up 1.6 percent and Sonic Automotive up 0.1 percent. Higher interest rates
In this article P911-DE Follow your favorite stocksCREATE FREE ACCOUNT Porsche’s bestselling cars today are SUVs, a far cry from what the luxury brand built its reputation on — small, nimble and, above all, unique rear-engine sports cars like the 911. Now the famous German automaker is faced with the challenge of how to maintain
Associated Press May 6, 2023, 02:43 AM ET Seven-time Formula One champion Lewis Hamilton hit out at anti-gay measures enacted by Florida lawmakers and criticised the state’s controversial “Don’t Say Gay” law ahead of the Miami Grand Prix on Sunday. Hamilton, F1’s only Black driver, regularly uses his platform to speak on issues of social
Until about two years ago, Gates Automotive Group focused its marketing efforts on monthly sales promotions that were aimed at consumers close to making a purchase decision. That strategy has evolved. Now, the dealership group in South Bend, Ind., has emphasized brand awareness marketing that combines social media engagement, collaboration with local athletes and business
In this article SP Follow your favorite stocksCREATE FREE ACCOUNT As the automobile took over America, so did parking lots and parking garages. There are between 700 million and 2 billion parking spaces in America — or put another way, between 2.5 to seven spots for every registered vehicle. About 10% of that inventory is
Drivetrain components and systems manufacturer American Axle & Manufacturing on Friday reported a first-quarter net loss of $5.1 million. That’s compared with net income of $1 million in the first quarter of 2022. In a Friday morning call, executives attributed losses to new program launch costs, material and labor inflation and market inefficiencies caused by
A used car dealership is seen in Annapolis, Maryland on May 27, 2021, as many car dealerships across the country are running low on new vehicles as a computer chip shortage has caused production at many vehicle manufactures to nearly stop. Jim Watson | AFP | Getty Images DETROIT – Wholesale used vehicle prices declined
George Russell has labelled Max Verstappen pathetic for his behaviour after their collision during the Azerbaijan Grand Prix. Verstappen called Russell a “d—head” after the Mercedes driver forced him wide during the Baku sprint race. The reigning world champion later referred to Russell as “Princess George” in an interview with the Dutch media. Russell likened
Lucid Motors is expected to face difficult questions about its future when the EV startup posts first-quarter earnings after the market close Monday. The industry newcomer delivered just 1,406 vehicles in the January-March period, well shy of the pace needed to meet its full-year forecast of between 10,000 and 14,000 Air sedans from its Arizona
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Tesla has enacted a series of price cuts on its cars. But it has recently begun raising the prices again. Chukrut Budrul | Sopa Images | Lightrocket | Getty Images Tesla raised the price of its more expensive Model S and Model X cars in
Hazel Southwell May 4, 2023, 12:43 PM ET Porsche is one of the automotive sector’s leading investors in synthetic-fuel development, designing the 911 GT3 Cup to run on e-fuel. Porsche AG The Federation Internationale de l’Automobile (FIA) has promised that every series it presides over, from karting to rallying to Formula One, will use 100% carbon-neutral
Lordstown Motors on Thursday reported a steep fall in its cash reserves and warned it might have to stop making its Endurance electric pickup truck in the near future unless it finds a partner. The cash-strapped EV maker had earlier this week said it might be forced to file for bankruptcy, citing uncertainty over a
In this article CVNA Follow your favorite stocksCREATE FREE ACCOUNT A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois. Armando L. Sanchez | Tribune News Service | Getty Images Carvana on Thursday said it expects to achieve positive adjusted earnings during the second quarter of this year — earlier than
Seating and electronics supplier Lear Corp. is moving to permanently close two manufacturing plants in Detroit after expanding its new plant at the former Cadillac Stamping site. The company will cease operations at its Davison Plant and Nevada Plant by June 30, according to a pair of notices filed with the state of Michigan, dated
First-quarter sales revenue rose by 22% to 76 billion euros, Volkswagen said, primarily driven by a recovery in sales volumes in Europe and North America. Bloomberg | Bloomberg | Getty Images German giant Volkswagen on Thursday reported a drop in first-quarter profit, saying weaker sales in China reaffirms the need for the carmaker to close
9:21 AM ET Nikita Mazepin, a Russian ex-Formula One driver, is fighting British government sanctions imposed following the invasion of Ukraine in a bid to resurrect his racing career. Nikita Mazepin was dropped last March by his team Haas, which also severed ties with its title sponsor Uralkali URKAI.MM, a Russian fertiliser producer then controlled