Tesla’s profit fell sharply in the first three months of the year after it cut the prices of its electric vehicles, the company said on Wednesday. The carmaker, led by Elon Musk, said it had made $2.5 billion in the first quarter, a drop from $3.7 billion in the last three months of last year… Continue reading Tesla’s Profit Dropped Sharply in First Quarter as It Cut Prices
Author: New York Times Online News
U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks
American brands like Tesla and General Motors will benefit most from rules that determine which electric vehicles qualify for tax credits starting on Tuesday. Foreign carmakers like Hyundai will be at a significant disadvantage because of restrictions aimed at cutting China out of the supply chain. Only 10 vehicles will initially qualify for tax credits… Continue reading U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks
China’s Car Buyers Have Fallen Out of Love With Foreign Brands
For years, foreign automakers in China had a bead on customers drawn to luxury brands, like the Cao family in Shanghai. Not anymore. Ben Cao and his wife, Rachel, both 36, are trading down from two Porsches to one, a gasoline-fueled $290,000 Porsche 911 sports car, and buying their first electric vehicle, a $70,000 sport… Continue reading China’s Car Buyers Have Fallen Out of Love With Foreign Brands
What to Know About Buying Electric Cars and the New Emissions Rule
The Biden administration on Wednesday proposed ambitious auto emissions rules that could significantly change the kinds of cars and trucks on sale in the United States — but not right away. The regulations, if carried out, will effectively require automakers to replace fossil fuel cars with electric vehicles starting with cars for the 2027 model… Continue reading What to Know About Buying Electric Cars and the New Emissions Rule
Automakers Face Test in Reaching U.S. Target for Electric Vehicles
The Biden administration’s plan to accelerate the adoption of electric vehicles — reaching a two-thirds share of new cars in less than a decade — pushes automakers further in a direction they have already been going. But meeting the new timetable will be a challenge. Most car companies are convinced that a transition to electric… Continue reading Automakers Face Test in Reaching U.S. Target for Electric Vehicles
Cool? Or Just Clunky? The Fight Over Dashboard Touch Screens.
From pocket-stretching smartphones to wall-hogging TVs, Americans have often asked: How much screen is too much? The question has come to today’s gadget-stuffed cars, whose increasingly colossal screens are splitting opinions among designers, car buyers and industry critics. These do-it-all touch screens, the nerve centers of many new cars, have sparked a backlash because of… Continue reading Cool? Or Just Clunky? The Fight Over Dashboard Touch Screens.
Craig Breedlove, 86, Once the Fastest Man on Earth, Dies
Craig Breedlove, the first person to set land-speed records at 400, 500 and 600 miles per hour, died on Tuesday at his home in Rio Vista, Calif. He was 86. The cause was cancer, his wife, Yadira Breedlove, said. Mr. Breedlove was something of a cross between Neil Armstrong and Evel Knievel — an American… Continue reading Craig Breedlove, 86, Once the Fastest Man on Earth, Dies
In Ohio, Electric Cars Are Starting to Reshape Jobs and Companies
Erick Belmer has seen how tough the car business can be. He was working at a General Motors plant in Lordstown, Ohio, when it shut down in 2019, devastating the community. Mr. Belmer, an industrial mechanic, got another job at a G.M. transmission factory in Toledo, but his commute is now 140 miles each way.… Continue reading In Ohio, Electric Cars Are Starting to Reshape Jobs and Companies
Jury Says Tesla Must Pay Worker $3.2 Million Over Racist Treatment
A federal jury in San Francisco ordered Tesla on Monday to pay about $3.2 million to a Black man who had accused the carmaker of ignoring racial abuse he faced while working at its California factory. The award was far less than the $137 million that a different jury awarded two years ago, mostly in… Continue reading Jury Says Tesla Must Pay Worker $3.2 Million Over Racist Treatment
Auto Sales Withstand Higher Interest Rates, So Far
Automakers have mostly overcome the supply-chain challenges that upended production early in the pandemic. Now they are trying to weather a new challenge: higher borrowing costs for their customers. General Motors and several other automakers reported on Monday that new-vehicle sales increased substantially in the first three months of the year, thanks to improved supplies… Continue reading Auto Sales Withstand Higher Interest Rates, So Far