Despite continued robust profits, franchised dealers polled by Cox Automotive this spring were a little less optimistic about the future than they were mid-winter, as overall dealer sentiment softened in part because of inflation, higher costs and still-tight inventory. Franchised dealers’ expectations for their vehicle markets for the next three months fell from a score
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In this article LMT GM MILFORD, Mich. — General Motors and Lockheed Martin said Thursday they plan to produce an array of moon-roving vehicles for commercial space missions and services powered by the automaker’s electric vehicle battery technology. The companies said they plan to test the batteries in space later this year, with the goal
12:04 PM ET Haas boss Guenther Steiner has warned Mick Schumacher the F1 team will not continue with him as a driver if he continues to crash the team’s car. Schumacher’s heavy crash at the Monaco Grand Prix, which saw his car split in two and is likely to cost far in excess of $1
Cadillac is going dramatic with a prototype of its third-generation endurance race car, the Project GTP Hypercar. Introduced Thursday, it previews the race car Cadillac will use to contest the 2023 IMSA WeatherTech SportsCar Championship and the FIA World Endurance Championship, including the 24 Hours of Le Mans. The Project GTP Hypercar, co-developed by Cadillac
Cars and trucks move along the Cross Bronx Expressway, a notorious stretch of highway in New York City that is often choked with traffic and contributes to pollution and poor air quality on November 16, 2021 in New York City. Spencer Platt | Getty Images In this weekly series, CNBC takes a look at companies
7:39 AM ET Formula One championship leader Max Verstappen has unfinished business to take care of at this weekend’s Azerbaijan Grand Prix while also looking to reassert himself as Red Bull’s lead driver. The Dutchman was heading for victory at the Baku street track last year when a tyre exploded and pitched him into the
Digital auto retail and finance platform AutoFi tapped Santander Consumer USA head of pricing and strategy Josh Baer as its president. Baer, whose resume also includes more than a decade at Capital One, will run AutoFi’s lender and enterprise segments. AutoFi on Thurday said he will focus on speeding growth in those businesses with “transformative
In this article 9866-HK Nio’s et5 electric sedan is set to begin deliveries in Sept. 2022. Nio Chinese electric-vehicle maker Nio lost $281.2 million in the first quarter, wider than the $68.8 million it lost a year ago, as it scrambled to keep pace with intense demand amid China’s recent Covid-related shutdowns. Here are other
12:36 PM ET Isle of Man TT organisers said on Wednesday they had misidentified a French sidecar racer who died in a crash at the weekend. Passenger Olivier Lavorel was named last Saturday as the man who had died but organisers said he had been confused with compatriot Cesar Chanal. “An initial identification procedure was
European Union lawmakers voted to uphold a ban on new combustion engine cars from 2035, holding off a challenge that would have put the bloc’s climate goals at risk. Members of Parliament voted against an amendment that would have eased a requirement on carmakers to cut emissions, to a 90 percent reduction by 2035, instead
Scott Keogh, VW, in San Francisco, California, Sept. 18, 2018. David Paul Morris | Bloomberg | Getty Images CHATTANOOGA, Tenn. – Volkswagen is “actively” looking to establish new assembly and battery facilities in the U.S., Volkswagen of America CEO Scott Keogh told CNBC on Wednesday. Keogh declined to discuss potential locations for such operations. The
4:55 AM ET Red Bull advisor Helmut Marko believes it is only a matter of time before Mercedes is challenging for victories every week. Mercedes has been off the pace of Red Bull and Ferrari this season but made clear progress with an upgraded car at the Spanish Grand Prix, although the team remained a
WASHINGTON — Ford Motor Co., along with BMW Group, Honda, Volkswagen and Volvo Cars, on Tuesday filed a motion to intervene in a federal lawsuit to support California and defend the EPA’s reinstatement of a waiver that restored the state’s authority to limit vehicle greenhouse gas emissions. The action comes after a group of 17
In this article ZE594-CN This photo from Dec. 2019 shows robotic arms spray painting a car body shell at the BYD Automobile Company Limited Xi’an plant. BYD is set to supply Tesla with batteries “very soon,” a senior company executive told a Chinese state media anchor. Yuan Jingzhi | Visual China Group | Getty Images
9:41 AM ET MONTE CARLO, Monaco — Charles Leclerc knew what an opportunity Ferrari had let slip through its fingers on Sunday. “No words,” he said on his radio after the race. “The season is long, but we cannot do that.” There must have been a lot going through Leclerc’s mind. Just an hour or
Former Hollywood movie producer Harvey Weinstein, now in prison after being convicted of sex crimes, on Tuesday sued the U.S. business of Fiat Chrysler Automobiles over a 2019 crash in which he flipped a Jeep Wrangler while trying to avoid a deer. Weinstein is seeking $5 million in damages, saying the Aug. 17, 2019 accident
Swedish automaker Polestar Cars will introduce what it says will be its highest-volume vehicle yet in October. The Volvo affiliate will bring the Polestar 3, a Porsche Cayenne-sized crossover, to the U.S. in the first quarter of 2023. Ahead of the launch, Polestar released a new film and the first undisguised image of the midsize
In this article TSLA Texas Attorney General Ken Paxton speaks during a news conference after the U.S. Supreme Court heard oral arguments in President Joe Biden’s bid to rescind a Trump-era immigration policy that forced migrants to stay in Mexico to await U.S. hearings on their asylum claims, in Washington, U.S., April 26, 2022. Elizabeth