Fg Trade | Istock | Getty Images If your three-year auto lease is coming to an end soon, be aware that your car may be worth far more than you realize. The 2022 average trade-in value for 2019 model-year vehicles is 33% higher ($7,208) than the predetermined residual value — a vehicle’s worth at the
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4:05 PM ET SAKHIR, Bahrain — In the space of Formula One’s two preseason tests, Mercedes has presented two very different versions of its new car. When the W13 left Barcelona after the first test it looked relatively conventional. When it emerged again in Bahrain for the second test it looked genuinely revolutionary. The changes,
Rivian Automotive Inc. is slashing production targets for its electric vehicles, backing off on price hikes for some customers and posting huge financial losses. But the young automaker still has ambitious plans. In the short term, there’s not a lot the California EV startup can do to speed output of the R1T pickup, R1S SUV
In this article RIVN ZE594-CN R.J. Scaringe, Rivian’s CEO, introduces the world to his company’s R1T all-electric pickup and all-electric R1S SUV at the Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Electric vehicle maker Rivian plans to use new types of battery cells in its electric trucks,
12:22 PM ET Kevin Magnussen said a Formula One return felt impossible until Haas boss Guenther Steiner asked him to come back as Nikita Mazepin’s replacement. Magnussen, who left Haas and F1 at the end of 2020, was confirmed back at Haas on Wednesday, ahead of this week’s preseason test in Bahrain. It was a
In this article BMW-DE Spencer Platt | Getty Images News | Getty Images German automaker BMW AG said Thursday its revenue and net profit hit all-time highs in 2021, despite increased spending on research and development related to electric vehicles. In a preview of results that it will present at its annual meeting next week,
Volvo Car USA said it will roll out camera-based scanning systems for its dealerships that can inspect cars in seconds. The scanning technology, developed by Israeli company UVeye, uses artificial intelligence to quickly inspect the underbody and tires and provides a 360-degree scan of the exterior. UVeye said dealerships will be able to use the
6:46 AM ET Formula One testing gets back underway this week in Bahrain for the final three days of track running ahead of the first race. The test will take place on the same circuit that will host the season-opening Bahrain Grand Prix, meaning teams will have no excuse for turning up unprepared when the
The new owners of the most expensive home ever sold in Detroit are Stellantis North America COO Mark Stewart and Antonio Gamez Galaz. The Fisher mansion sold last week for $4.9 million, the top home sale in the city’s history. Stewart and Gamez Galaz bought the Palmer Woods home from Dan Ammann, the former General
High gas prices are displayed at a Shell station on March 7, 2022 in Los Angeles, California. Mario Tama | Getty Images News | Getty Images Consumers hoping to switch to an all-electric or more fuel-efficient vehicle, while Russia’s invasion of Ukraine pushes gas prices to record highs, will largely be out of luck. A
5:12 AM ET Russian company Uralkali has demanded a full reimbursement from Haas after being dropped as the team’s title sponsor ahead of the coming Formula One season. Haas cut ties with Dmitry Mazepin’s company Uralkali and dropped his son, Nikita, as driver following Russia’s military invasion of Ukraine. Uralkali signed a deal with Haas
12:56 PM ET Kevin Magnussen has completed a stunning return to Formula One with former team Haas as Nikita Mazepin‘s replacement, it was announced on Wednesday. Magnussen, a 29-year-old from Denmark, raced at Haas for four seasons between 2017 and 2020 before he and Romain Grosjean were dropped in favour of Mazepin and Mick Schumacher
WASHINGTON — Tesla Inc. defended the safety benefits of its advanced driver assistance system Autopilot and its Full Self-Driving capability but acknowledged they require “constant monitoring and attention of the driver.” Democratic Senators Richard Blumenthal and Ed Markey wrote Tesla CEO Elon Musk on Feb. 8 raising “significant concerns” about the EV maker’s Autopilot and
A former dealership owner was sentenced to six years in federal prison on March 3 after being found guilty of defrauding Toyota out of more than $4.3 million. James Pinson owned Big Blue Motor Sales, a used-vehicle dealership in Louisa, Ky. Pinson, 46, was convicted in December of three counts of wire fraud, six counts
Former AutoNation Inc. CEO Mike Jackson, who retired on Nov. 1 after more than two decades with company, collected nearly $18.3 million in compensation last year, according to the auto retail giant’s proxy statement. Jackson, 73, earned 29 percent more than the year before. His 2021 compensation included $1.09 million in salary, stock awards of
The price of nickel is surging as investors take stock of the new global reality: Russia, a key supplier of the metal, is now facing extensive sanctions following its invasion of Ukraine. In an unusual step, the London Metal Exchange suspended nickel trading on Tuesday morning after three-month contract prices more than doubled to over
In this article VOW3-DE VW ID. Buzz VW Volkswagen is resurrecting its iconic microbus — the quintessential van associated with traveling Deadheads and the 1960s counterculture — as an all-electric van called the ID. Buzz. The German automaker on Wednesday finally unveiled the electric vehicle as a 21st-century descendent of its T1 Microbus. VW has
2:28 AM ET Associated Press Chip Ganassi Racing and PNC Bank marked International Women’s Day with the launch of a campaign to drive gender equality in motorsports. Women in Motorsports will feature both a video content series showcasing female industry leaders and an internship program designed to create opportunities in motorsports for women. “While women