Hero Images | Getty Images It’s getting harder to find new, cheap cars, according to auto experts. Consider this: In July, just one car model — the Mitsubishi Mirage — had an average new-vehicle transaction price below $20,000, according to Kelley Blue Book data. By comparison, there were a dozen vehicles that met that pricing… Continue reading Why it’s hard to find an inexpensive new car these days — just one model has an average price below $20,000
Author: CNBC Online news
Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
Didi launched a free robotaxi service in parts of Shanghai in 2020. Vcg | Visual China Group | Getty Images BEIJING — Chinese electric car company Xpeng said Monday it is buying Didi’s smart electric car development business in an exchange of shares worth $744 million. The Chinese ride-hailing company will become a strategic shareholder… Continue reading Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
Labor unions are pushing hard for double-digit raises and better hours. Many are winning
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. Michael Wayland / CNBC From writers’ rooms to car factories, workers are pressing companies for higher pay and better quality of life. Many are willing to walk off the job to get there,… Continue reading Labor unions are pushing hard for double-digit raises and better hours. Many are winning
Tesla Autopilot safety probe by federal vehicle regulators nears completion
A multiyear investigation into the safety of Tesla’s driver assistance systems by the National Highway Traffic Safety Administration, or NHTSA, is drawing to a close. Reuters’ David Shepardson first reported on the latest developments Thursday, citing NHTSA acting administrator Ann Carlson. CNBC confirmed the report with the federal vehicle safety regulators. A spokesperson for NHTSA… Continue reading Tesla Autopilot safety probe by federal vehicle regulators nears completion
UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis
Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT – United Auto Workers members overwhelmingly granted union leaders authorization to call strikes during ongoing contract negotiations with General Motors, Ford Motor and… Continue reading UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis
Here’s what to do if you could only afford a used vehicle and are saddled with high interest rates
I Love Images | Cultura | Getty Images Rising interest rates are pushing auto loan rates upwards for both new and used cars across the U.S. The average annual percentage rate for new cars rose 7.1%, in the second quarter of the year, according to car website Edmunds, while that for used cars ticked up… Continue reading Here’s what to do if you could only afford a used vehicle and are saddled with high interest rates
The evolution of the Volkswagen bus — from Type 2 to the electric ID Buzz
Volkswagen Type 2 bus lined up next to the ID. Buzz CNBC | Sydney Boyo | Andrew Evers The “bus,” as many fans know it, is deeply ingrained in American culture and evolved into a symbol of protest starting in the 1960s. “There was an unpopular war. There were conflicting ideas of what the American… Continue reading The evolution of the Volkswagen bus — from Type 2 to the electric ID Buzz
China’s EV slowdown drags down Nvidia’s ‘next billion-dollar business’
Nvidia automotive segment primarily sells chip systems for assisted driving. CEO Jensen Huang has touted it as the company’s “next billion-dollar business.” Alex Wong | Getty Images News | Getty Images BEIJING — U.S. chipmaker Nvidia this week soundly beat analysts’ expectations for major revenue lines — except in automotive — as Chinese demand for… Continue reading China’s EV slowdown drags down Nvidia’s ‘next billion-dollar business’
Tesla hasn’t issued final pricing or specs for Cybertruck as Musk memo warns of manufacturing challenges
The Tesla Cybertruck during a tour of the Elkhorn Battery energy storage system in Moss Landing, California, June 6, 2022. Nik Coury | Bloomberg | Getty Images Tesla CEO Elon Musk has been promoting the company’s long-delayed, sci-fi inspired Cybertruck on social media this week. However, the electric vehicle maker still hasn’t issued final pricing… Continue reading Tesla hasn’t issued final pricing or specs for Cybertruck as Musk memo warns of manufacturing challenges
Where Uber’s climate and autonomous driving goals will meet in the future
Back when Uber Technologies was going public in 2019, CEO Dara Khosrowshahi gave a low-key warning: The profit gusher would not really begin until the company developed self-driving vehicles, a project on which it was then investing heavily. In the meantime, Uber lost more than $25 billion, as its early autonomous-vehicle program floundered and it… Continue reading Where Uber’s climate and autonomous driving goals will meet in the future