Rental car company Avis Budget Group Inc. reported its best quarterly net income in its history. Avis’ net income for the third quarter was reported at $1.03 billion, a 53 percent increase from the same period a year ago. Adjusted earnings before interest, taxes, depreciation and amortization rose 38 percent from last year to $1.46
Volkswagen Group is selling its WeShare car-sharing business to German startup Miles Mobility as the automaker retreats from what has largely been an unprofitable industry. Miles will integrate WeShare’s 2,000 VW-branded electric vehicles into its mostly combustion-engine fleet of 9,000 cars, the companies said Tuesday. Miles also ordered 10,000 EVs from the manufacturer, with deliveries
In this article 57LA-FF Follow your favorite stocksCREATE FREE ACCOUNT Germany company Sono Motors says it will bring a solar-powered electric vehicle to market in Europe in mid-2023. Sono has brought the car, called the Sion, on a tour throughout the U.S., in anticipation of its eventual domestic release. Priced at $25,000, the car is
Just over a month after officially launching its G9 SUV in China, XPeng Motors has announced its latest EV has received a permit for autonomous driving tests on public roads. According to the Chinese automaker, the G9 is the first unmodified, mass-produced commercial vehicle to qualify for such tests and is on its way to
Dodge’s future may be electric, but the performance brand will continue to look after those customers with gasoline in their veins for years to come via Direct Connection, an in-house performance parts division offering everything from mild engine tunes to carbon-fiber body shells and even a complete body-in-white for drag racers. Direct Connection also offers
PRAGUE — The European Union asked the United States to treat EU electric vehicles, batteries and sustainable energy equipment sold in the United States the same as those from Canada and Mexico, Czech trade minister Jozef Sikela said. The 27-nation EU has been complaining that the U.S. Inflation Reduction Act effectively discriminates against EU producers
7:08 AM ET Lewis Hamilton said Fernando Alonso questioning the value of his Formula One titles made him “giggle a little bit.” Ahead of the Mexican GP, Alonso told Dutch media that Max Verstappen’s two world titles are worth more than Hamilton’s seven because the Red Bull driver has not just beaten his teammate to
Growing Parks Automotive Group has entered a new market in Virginia with the purchase of three luxury dealerships. Parks Automotive, of Kernersville, N.C., on Sept. 12 bought Duncan Acura in Roanoke, Audi Roanoke and BMW Roanoke, all in Virginia, from Gary Duncan of Duncan Automotive Network, according to buy-sell advisory firm Tim Lamb Group of
In this article TSLA TWTR-MX Follow your favorite stocksCREATE FREE ACCOUNT The Twitter profile page belonging to Elon Musk is seen on an Apple iPhone mobile phone. Nurphoto | Nurphoto | Getty Images New Twitter owner Elon Musk has pulled more than 50 of his trusted Tesla employees, mostly software engineers from the Autopilot team,
The resurrection of the Hummer brand as GMC’s high-end EV sub-brand appears to be a great business idea and, considering recent news, it seems to have surpassed all expectations. Demand for both models – the GMC Hummer EV Pickup and the GMC Hummer EV SUV – is strong, which ppromptedthe company to close reservations after
David Freiburger scored the car he’d wanted for 20-plus years, a 1971 Plymouth Road Runner. It was a decent car, mostly original with 95,000 miles on it, but a repaint had turned to chalk, and it looked ridiculous with tiny tires. On Roadkill Garage, we transform it and give it more power on a budget!
The London Electric Vehicle Company, which makes the city’s battery-powered black cabs, plans to cut as many as 140 jobs in the UK as part of a plan to increase efficiency. LEVC, as it is known, is owned by China’s Zhejiang Geely Holding Group – the parent company of Volvo, Lotus, Polestar and others —
7:07 AM ET Daniel Ricciardo said he is talking to Formula One teams about a reserve role next year and that taking a break from racing could prove to be “a blessing in disguise.” The Australian finished seventh for McLaren in Sunday’s Mexico City Grand Prix and was voted Driver of the Day by fans
The Acura TLX Type S SH-AWD wants to be seen as a direct competitor to the BMW M340i xDrive, which is why there is a comprehensive side-to-side comparison on Acura’s official website. A closer look though reveals a mistake as the BMW’s engine is wrongfully described as a V6 instead of the inline-six that is.
A Florida woman was arrested for grand theft following an investigation into a Chevrolet dealership‘s payroll. Ariel Rutenbeck, 32, was taken into custody Wednesday for allegedly altering payroll at Dimmitt Chevrolet in Clearwater, Fla., about 20 miles west of Tampa, according to an arrest affidavit from Clearwater Police Department. As one of two people with
TOKYO – Japan’s Panasonic Holdings Corp said on Monday it will start building its new battery plant in Kansas in November and aims to begin mass production by March 2025, targeting North America’s fast-growing EV market. The conglomerate’s energy unit said in July it had picked Kansas as the site for a new plant to
In this article TSP Follow your favorite stocksCREATE FREE ACCOUNT TuSimple, partly owned by UPS, makes self-driving trucks, a technology that may be among the innovations to help lower longer-run inflation in the transport sector. Source: TuSimple Self-driving truck startup TuSimple has fired its CEO, Xiaodi Hou, after an internal investigation found improper dealings and
By Johnna Crider Posted on October 29, 2022 Elon Musk’s acquisition of Twitter has finally come to a close, and as he takes charge of the platform, some advertisers aren’t too happy. Citing his love for humanity, Elon Musk wrote a letter to Twitter’s advertisers emphasizing the importance of ad relevancy on Thursday. On Friday,