Acting on a tip from an acquaintance, Cameron Luther uncovered a butterscotch yellow 1966 Porsche in a garage in Monterey, Calif. It was dusty and up on jack stands with the wheels off. It clearly hadn’t run in a long time. The owner was a retired pilot, who is now 94, who had started a… Continue reading For Young Collectors, Grandpa’s Car Is a New Must-Have
Author: New York Times Online News
Tesla Sales Down, GM and Toyota Up Slightly in 2nd Quarter
Much of the auto industry, with the notable exception of Tesla, reported modest sales growth in the three months through June as high interest rates, high vehicle prices and uncertainty about the economy weighed on consumers. Sales in late June were also slowed by disruptions at car dealers stemming from a cyberattack on a company… Continue reading Tesla Sales Down, GM and Toyota Up Slightly in 2nd Quarter
Elon Musk’s Politics May Be Pushing Some Buyers Away From Tesla
Few auto executives are as closely identified with the companies they manage as Elon Musk, the chief executive of Tesla, is. And probably none are more prolific in broadcasting their political views on social media. But as Mr. Musk’s public persona has become increasingly right wing, Tesla appears to be paying a price in sales,… Continue reading Elon Musk’s Politics May Be Pushing Some Buyers Away From Tesla
Volkswagen Will Invest Up to $5 Billion in EV Maker Rivian
Volkswagen, the German automaker, said on Tuesday that it would invest up to $5 billion in Rivian, a maker of electric trucks that has struggled to turn a profit, and that the companies would cooperate on software for electric vehicles. The deal creates an unusual alliance between the world’s second-largest carmaker and an electric vehicle… Continue reading Volkswagen Will Invest Up to $5 Billion in EV Maker Rivian
CDK Global Cyberattack Disrupts Car Sales in U.S. and Canada
Thousands of auto dealers across the United States and Canada are suffering disruptions to their operations as a result of cyberattacks on a provider of critical software and data services used in auto retailing. The provider, CDK Global, said it was targeted in two attacks on Wednesday, prompting the company to shut down its systems… Continue reading CDK Global Cyberattack Disrupts Car Sales in U.S. and Canada
Akio Toyoda’s Support Among Toyota Investors Tumbles
Investor support for Toyota Motor’s longtime leader, Akio Toyoda, sank to its lowest level since he took the helm as shareholders challenged the extent of control he exerts over the company. According to a filing released on Wednesday, 71.9 percent of shareholders supported renominating Mr. Toyoda as chairman of Toyota’s board. That met the threshold… Continue reading Akio Toyoda’s Support Among Toyota Investors Tumbles
Fisker Files for Bankruptcy as EV Start-Up’s Cash Runs Short
Fisker filed for bankruptcy protection late on Monday, the latest start-up in the electric vehicle industry to fall short after raising large amounts of money from investors with lofty expectations. Fisker’s bankruptcy filing, roughly one year after it delivered its first vehicle and almost four years after it went public, came after months of doubts… Continue reading Fisker Files for Bankruptcy as EV Start-Up’s Cash Runs Short
Tesla Shareholders Approve C.E.O. Elon Musk’s Pay Package
Tesla shareholders have reaffirmed a pay award of more than $45 billion for Elon Musk, the chief executive, after it was thrown out in a legal challenge. The vote result, announced at Tesla’s annual meeting at its headquarters in Austin, Texas, on Thursday, is a strong sign that shareholders still believe in Mr. Musk, and… Continue reading Tesla Shareholders Approve C.E.O. Elon Musk’s Pay Package
Musk’s Friends and Fans Applaud Shareholder Vote on His Payday
Tesla shareholders reaffirmed a pay award worth more than $45 billion for Elon Musk on Thursday, but before the announcement was made official at the company’s annual meeting in Austin, Texas, Mr. Musk posted the news on X, his social media platform. “Both Tesla shareholder resolutions are currently passing by wide margins!” he wrote in… Continue reading Musk’s Friends and Fans Applaud Shareholder Vote on His Payday
E.U. Hits Electric Vehicles From China With Higher Tariffs
The European Union said on Wednesday that it would impose additional tariffs of up to 38 percent on electric vehicles imported from China into the bloc, in what E.U. leaders called an effort to protect the region’s manufacturers from unfair competition. The move, a month after President Biden quadrupled U.S. tariffs on Chinese electric vehicles… Continue reading E.U. Hits Electric Vehicles From China With Higher Tariffs