With gasoline prices at a 14-year high, it’s hard to imagine paying even more at the pump. Yet prices are only heading higher. On Sunday, the national average for a gallon of gas hit $4.009, the highest since July 2008, according to data from AAA. An increase in demand along with a reduction in supply
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Group 1 Automotive Inc. on Monday acquired Charles Maund Toyota in Austin, Texas, which the auto retailer expects will add $435 million in annual revenue. Group 1, of Houston, said it renamed the dealership Toyota of North Austin. The sellers were Doug Maund, a son of the dealership’s founder, Charles Maund, and Managing Partner Jim
4:33 PM ET Italy’s Imola circuit will continue to host Formula One until 2025, the sport announced on Monday. The track returned to the calendar in 2020, for the first time since 2006, as Formula One sought to fill gaps left by other races cancelling due to the COVID-19 pandemic. It retained its place in
A pedestrian walks past a certified pre-owned car sales lot in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images Wholesale used-vehicle prices fell in February from January, a sign that while prices remain near record levels, the surge in U.S. used-car prices may be easing. Cox Automotive said on
Uber Technologies Inc. raised its outlook for first-quarter core profit on Monday, as its ride hailing business was recovering faster than expected on the back of a surge in airport rides and an increase in the number of offices being reopened. The company also said customers continued to order food at a high rate in
5:50 AM ET Ferrari driver Charles Leclerc compared the “porpoising” sensation in new Formula One cars to turbulence on a plane and said it made him feel ill in the opening preseason test. F1’s new cars displayed one very odd bit of behaviour at the first test in Spain, bouncing up and down on their
An employee works on a Ford Motor Co. Super Duty Truck engine at the Ford Kentucky Truck Plant in Louisville, Kentucky, Sept. 30, 2016. Luke Sharrett | Bloomberg | Getty Images Ford Motor is once again cutting production of highly profitable trucks and SUVs due to an ongoing global shortage of semiconductor chips that has
AutoFi, an emerging digital F&I platform, said it plans to focus on product investment after raising $85 million from investors that included Santander Consumer USA. The latest funding round announced Monday translates into a nearly $700 million valuation for AutoFi and follows four straight years of doubling revenue, AutoFi said. Santander was joined by other
In this article F Attendees look at the all-electric Ford F-150 Lightning pickup truck at the Washington Auto Show in Washington on Tuesday, January 25, 2022. Bill Clark | CQ-Roll Call, Inc. | Getty Images In the biggest deal it has done in a long time, Ford Motor Co. decided to split its electric-vehicle business
Dealers in West Virginia are pushing for major changes to the state’s franchise law that would define their role in vehicle reservations and when a dealership should be compensated after over-the-air updates are performed by an automaker. West Virginia’s House of Delegates last week unanimously passed the bipartisan bill known as HB 4560, which is
In this article F GM TSLA Maja Hitij | Getty Images News | Getty Images Tesla CEO Elon Musk challenged the United Auto Workers to try and organize employees at his company’s plant in Fremont, California, and stepped up his attacks on the Biden administration’s policies. In a series of tweets this week, Musk went
Lucid made big promises for its launch vehicle, the sleek and luxurious Air sedan. And the California electric vehicle startup delivered, with a record 520 miles of EPA range, blistering performance and futuristic styling. Now, the Saudi-backed automaker is struggling to push enough Air models out the door of its Arizona factory to meet the
12:26 PM ET Associated Press ST. PETERSBURG, Fla. — An IndyCar fan survey found that Romain Grosjean is the series’ most popular driver, Team Penske is the favorite team, and the Indianapolis 500 is the best race on the schedule. IndyCar said Friday that it received 53,579 responses to its Global Fan Survey, which was
Recent upticks in traffic deaths have sparked worry among safety advocates, government officials and even the industry itself. The toll — 1.36 fatalities per 100 million vehicle miles traveled — has been called “a national crisis” by U.S. Secretary of Transportation Pete Buttigieg. That said, riding in cars is currently far safer than it was
The vehicles and auto parts endangered by the Russian invasion of Ukraine may seem thousands of miles away from being a real problem. But the war could bring new worries to an issue that’s already bedeviling automakers: the global microchip shortage. Ukraine is the source for 70 percent of the world’s output of neon. Neon
3:55 AM ET The Haas Formula One team has terminated its contract with Russian driver Nikita Mazepin and title sponsor Uralkali. The decision was taken in the wake of Russia’s ongoing invasion of Ukraine and means no Russians are signed up to drive in F1 ahead of the new season. “Haas F1 Team has elected
Consumers check out Huawei’s first HarmonyOS car, the Aito M5, at a store in Hangzhou, Zhejiang Province, on Jan. 3, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — The first electric car with Huawei’s HarmonyOS operating system is set to begin deliveries at a ceremony on Saturday in Shanghai, according to an
The vehicles and auto parts endangered by the Russian invasion of Ukraine may seem thousands of miles away from being a real problem. But the war could bring new worries to an issue that’s already bedeviling automakers: the global microchip shortage. Ukraine is the source for 70 percent of the world’s output of neon. Neon