In this article VOW3-DE As Volkswagen looks to resurrect the Scout brand in the United States, CEO Herbert Diess has shed light on the decision, saying it represents an opportunity for the German auto giant to “become much more American.” VW announced plans to re-launch the Scout as a fully-electric pick-up and “rugged” SUV last
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8:24 AM ET Formula One championship leader Charles Leclerc crashed the 1974 Ferrari of three-time champion Niki Lauda during a demonstration run at the Monaco Historic Grand Prix on Sunday. The current Ferrari driver was at the wheel of the Ferrari 312 B3, which Lauda drove in period, for a handful of demonstration laps on
Mercedes-Benz of Sugar Land is building customer loyalty and making roads safer at the same time. Since 2014, the Texas dealership has sent more than 260 teenagers through a driving safety school that uses an array of Mercedes vehicles to teach various maneuvers. The initiative started as a perk for dealership clients’ children as part
In this article RIVN Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it’s still on track to build 25,000 vehicles this year, as it reported a jump in
10:25 PM ET Associated Press DINWIDDIE, Va. — Matt Hagan made the quickest Funny Car run in Virginia Motorsports Park history Saturday to top qualifying for the Virginia NHRA Nationals. Hagan had a 3.853-second pass at 331.45 mph in Tony Stewart Racing’s Dodge Charger SRT Hellcat for his second No. 1 of the season and
Penske Automotive Group Inc. is pausing on its goal to have its standalone used-vehicle CarShop locations sell 150,000 vehicles annually by the end of 2023, as it deals with higher costs of sales and vehicle acquisition woes. Penske announced in February 2021 that it planned to expand its CarShop locations in the U.S. and U.K.
BRENDAN SMIALOWSKI Tesla CEO Elon Musk sent Twitter shares tumbling on Friday when he said he was going to put his $44 billion acquisition of the social network “on hold” while he researches the proportion of fake and spam accounts on the platform. Though Musk later clarified that he remains committed to the deal, he continued
Volkswagen dealers were left angry, shocked and suspicious by surprise news that the brand’s German parent plans to build a new company in the U.S. to sell an electric pickup and SUV under the Scout name, not least because Volkswagen AG was silent on how it intends to retail the vehicles. The lack of information
In this article GS TSLA Elon Musk has a history of expressing strong opinions about hydrogen and hydrogen fuel cells. A few years ago, when the subject came up during a discussion with reporters at the Automotive News World Congress, the electric vehicle magnate described hydrogen fuel cells as “extremely silly.” Jim Watson | AFP
8:05 PM ET Associated Press DINWIDDIE, Va. — Top Fuel points leader Brittany Force broke both ends of the track record at Virginia Motorsports Park in qualifying Friday for the Virginia NHRA Nationals. In the NHRA’s first event at the track in three years, Force had a 3.710-second run at 335.82 mph. She has nine
Mercedes-Benz of Sugar Land is building customer loyalty and making roads safer at the same time. Since 2014, the Texas dealership has sent more than 260 teenagers through a driving safety school that uses an array of Mercedes vehicles to teach various maneuvers. The initiative started as a perk for dealership clients’ children as part
In this article F WFC GM Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images DETROIT — Shares of General Motors on Thursday hit a new 52-week low and opened
Online used-vehicle retailers such as Carvana Co. and Vroom Inc., after riding high on consumer and investor interest during the COVID-19 pandemic, are facing a reckoning. Carvana slashed 2,500 jobs and suspended executive pay after losing $506 million in the first quarter. Vroom tapped a new CEO and said it would consider cutting jobs after
In this article RIVN Rivian R1T Field pickup Source: Rivian Rivian Automotive is recalling some of its electric pickups because of an airbag defect that could injure a child in a crash, according to a letter from the National Highway Traffic Safety Administration, dated Wednesday. A total of 502 R1Ts are affected, about 10% of
4:01 AM ET Four times Formula One world champion Sebastian Vettel said on Thursday that climate change had made him question his job as a driver travelling the world to race cars. Speaking on BBC Question Time, a television panel show mixing politicians and celebrity guests, the German was asked whether his position on the
YOKOHAMA, Japan — Nissan Motor Co., fresh off unveiling plans to add electric vehicle production at a second U.S. assembly plant, is now contemplating building a third “factory,” possibly for EVs, in the region by 2030. Chief Operating Officer Ashwani Gupta said the Japanese automaker would likely need a new “factory” by the end of
Jason Calacanis Adam Jeffery | CNBC Angel investor Jason Calacanis, an early backer of Uber and Robinhood, is seeking to raise tens of millions of dollars for a stake in Twitter as part of Elon Musk’s $44 billion agreement to buy the social media company. “We are now collecting interest to invest in Twitter with
Shakespeare was wrong when Romeo rhetorically asks, “What’s in a name?” The answer is not irrelevant — it’s money. In fact, Volkswagen is banking on that fact. The German automaker is moving ahead with plans to resurrect the Scout name that it acquired last year when its heavy-truck brand merged with Navistar and, in the