Ford Motor (F) CEO Jim Farley told the CNBC Investing Club exclusively Wednesday why the company is closing a Ford Focus plant in Germany. It’s because it’s very expensive and losing money. Farley told Jim Cramer that Ford plans to keep a second plant in Germany, one that’s profitable, open. The plant that’s staying in
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6:23 AM ET Associated Press Robert Wickens won for the first time since suffering a spinal cord injury in 2018 by teaming with Mark Wilkins to win the TCR class Saturday in the Michelin Pilot Challenge at Watkins Glen International in New York. Wickens was a promising IndyCar rookie when he was injured in an
BMW’s redesigned 2023 7 Series has upped the ante on in-vehicle entertainment with an optional Theater Screen system that transforms the rear compartment into a media room on wheels. A 31-inch multimedia display delivers content in 8K resolution and runs on the Amazon Fire TV operating system. The screen lies flat against the sedan’s panoramic
In this article TSLA “The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Tesla’s newest car factories in Texas and Berlin are losing “billions of dollars right now” as
6:37 PM ET Associated Press LEBANON, Tenn. — Justin Allgaier routed the field at Nashville Superspeedway on Saturday for his second NASCAR Xfinity Series victory of the season. The JR Motorsports driver led 134 of the 188 laps in his Chevrolet and beat Trevor Bayne by 4.513 seconds on a hot, steamy afternoon in which
Thieves made off with 13 F-150 Raptors and six Mustangs from Ford Motor Co. assembly plants in the Detroit area this month. A majority of the vehicles were later found damaged. The Raptors — a wider, more off-road-oriented version of Ford’s top-selling F-Series pickup — were worth a total of almost $1 million, The Detroit
The recent run-up in gasoline prices is now being felt nearly across the board. The national average for a gallon of gas is currently $4.94 after topping $5 per gallon for the first time ever earlier this month, according to AAA. Last year at this time, the price was $3.07 per gallon. The increase has put a severe
10:29 PM ET Associated Press NORWALK, Ohio — Top Fuel points leader Brittany Force broke both ends of the Summit Racing Equipment Motorsports Park track record Friday night to open qualifying for the Summit Racing Equipment NHRA Nationals. In the final pair of the second session, Force had a 3.666-second run at 333.08 mph, the
Genesis is pushing back the launch of the Electrified G80 sedan after a planned spring showroom debut. The automaker didn’t disclose the reason but said more details about pricing and the on-sale date will not be available until late summer or early fall. As recently as Wednesday, June 22, Genesis’ website said the electric sedan
Swedish EV startup Polestar will supply up to 65,000 vehicles to Hertz over five years, the two companies announced on April 4, 2022. Shares of Polestar are set to debut under the ticker “PSNY” on Friday, making it the latest electric vehicle maker to go public via a merger with a special purpose acquisition company,
1:57 PM ET Austin LindbergESPN FC Tiny cameras mounted within drivers’ helmets are bringing fans closer to the action than ever before. Simon Galloway/Formula E There are so many sensations that fans miss out on when they watch a race on television. They don’t see just how dramatic elevation changes are, they don’t scrunch up their
Bruton Smith, a pioneer-turned-titan in both auto retailing and motorsports, leveraged small roles selling cars and promoting dirt-track races as a youth to create two moneymaking business giants. Smith, founder of Sonic Automotive Inc., NASCAR Hall of Famer, racetrack owner and philanthropist, died Wednesday, June 22, at 95. Smith launched Sonic, of Charlotte, N.C., as
In this article TWLO YELP Susan Wojcicki, CEO of YouTube addresses delegates of the World Economic Forum (WEF) in Davos, Switzerland May 24, 2022. Arnd Wiegmann | Reuters Salesforce CEO Marc Benioff, Microsoft co-founder Bill Gates, and departing Meta COO Sheryl Sandberg were among noteworthy tech executives speaking out publicly on Friday’s Supreme Court ruling which
4:46 AM ET The city of Madrid has officially expressed an interest in hosting a Formula One race, the city’s regional government announced on Thursday. Although Spain already hosts a race in Barcelona, which has a contract until 2026, and the lack of F1-grade tracks in Madrid, the Spanish capital’s local government believe it can
McLaren, a steadfast holdout in the stampede among Lamborghini, Bentley, Aston Martin, Ferrari and other ultraluxury and exotic brands to market high-performance utility vehicles, may be reversing course. That’s the conclusion of a report from British magazine Autocar. The publication, without attributing the information to any sources, says the British automaker plans to launch an
In this article VOW3-DE TSLA 7203.T-JP Toyota’s bZ4X electric sport utility vehicle photographed in Chiba Prefecture, Japan, on Feb. 24, 2022. The Japanese automotive giant has issued a safety recall related to the bZ4X’s wheels. Kiyoshi Ota | Bloomberg | Getty Images Japanese automotive giant Toyota issued a safety recall for more than 2,000 of
9:05 AM ET Associated Press McLaren isn’t done with Felix Rosenqvist and on Thursday signed the Swedish driver to a multiyear contract extension. The team just didn’t designate where Rosenqvist will drive. Rosenqvist could be shifted to McLaren’s new Formula E program when it launches in 2023, the team indicated. “McLaren Racing is currently in
In this article BMW-DE German automaker BMW is ramping up production of electric vehicles in China as it looks to catch up with leaders Tesla and domestic rivals like BYD. The new plant in Shenyang is BMW’s third in China and brings its annual production capacity in the country to 830,000 cars. Anadolu Agency |