If you’re in the market for a new car, be prepared for the possibility of paying more than sticker price. The average new-car price in February was $45,296, compared with the average manufacturer’s suggested retail price, or MSRP, of $41,637, according to new research from iSeeCars.com. An estimated 31% of new vehicles were sold above… Continue reading 31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums
Author: CNBC Online news
GM offers buyouts to ‘majority’ of U.S. salaried workers
watch now DETROIT – General Motors will offer voluntary buyouts to a “majority” of its 58,000 U.S. white-collar employees, as it aims to cut $2 billion in structural costs over the next two years, according to a letter sent to workers Thursday from CEO Mary Barra. The “Voluntary Separation Program,” or VSP, will be offered to… Continue reading GM offers buyouts to ‘majority’ of U.S. salaried workers
Fatal Tesla collision with firetruck under federal investigation
In this photo provided by the Contra Costa County Fire Protection District, firefighters are seen at the scene of a fatal accident involving a Tesla and Contra Costa County fire truck on Feb. 18, 2023, in Contra Costa, California. Contra Costa County Fire Protection District Federal vehicle safety regulators initiated a new, special crash investigation… Continue reading Fatal Tesla collision with firetruck under federal investigation
An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
1962 Ferrari 250 GT SWB California Spider Courtesy of Gooding & Company, Images by Mathieu Heurtault. Wealthy car collectors spent a record amount at the classic-car auctions at Amelia Island over the weekend, suggesting the market remains strong despite recession fears and falling stocks. Total sales at the Amelia Island auction reached $178.4 million —… Continue reading An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
Vietnamese EV maker VinFast remains optimistic despite challenging entry to U.S. auto market
A VinFast VF8 electric car on display in a showroom. Yu Ruidong | China News Service | Getty Images It has been a challenge for Vietnamese electric vehicle maker VinFast to crack the U.S. market amid tough competition and softening demand. VinFast cut monthly lease prices for its first U.S. buyers to $399, down from… Continue reading Vietnamese EV maker VinFast remains optimistic despite challenging entry to U.S. auto market
Used vehicle prices rising at an unseasonably strong rate
A used car dealership is seen in Annapolis, Maryland on May 27, 2021, as many car dealerships across the country are running low on new vehicles as a computer chip shortage has caused production at many vehicle manufactures to nearly stop. Jim Watson | AFP | Getty Images DETROIT — Consumers hoping for a deal… Continue reading Used vehicle prices rising at an unseasonably strong rate
Rivian shares fall as EV maker looks to raise $1.3 billion amid growing demand concerns
The Rivian name is shown on one of their new electric SUV vehicles in San Diego, U.S., December 16, 2022. Mike Blake | Reuters Rivian Automotive plans to raise $1.3 billion in cash via a sale of convertible notes, joining a growing list of EV makers scrambling to hoard cash as demand falters. Shares of… Continue reading Rivian shares fall as EV maker looks to raise $1.3 billion amid growing demand concerns
Lordstown Motors says it still has $220 million in cash as it grapples with production issues and an EV pivot
Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Lordstown Motors said Monday that it still had more than $220 million in cash at the end of 2022, despite ongoing challenges that halted production of its Endurance electric pickup after just six were… Continue reading Lordstown Motors says it still has $220 million in cash as it grapples with production issues and an EV pivot
Tesla cuts Model S and Model X prices in the U.S. to stoke demand
A drivers uses a Tesla Supercharging station in Corte Madera, California, US, on Thursday, March 2, 2023. David Paul Morris | Bloomberg | Getty Images Tesla cut prices on its two most expensive models in the U.S., the Model S and Model X, in a renewed bid to stoke demand for its cars with aggressive… Continue reading Tesla cuts Model S and Model X prices in the U.S. to stoke demand
Tesla’s investor day featured 17 execs, taking Elon Musk out of the limelight
Elon Musk speaking at Tesla Investor Day. Courtesy: Tesla When Tesla CEO Elon Musk promoted a 2023 Investor Day event to be held on March 1, he promised to reveal his “Master Plan 3,” a long-term vision for the company’s next stage of growth. Last year, Musk said his new plan would include details on:… Continue reading Tesla’s investor day featured 17 execs, taking Elon Musk out of the limelight