UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on Thursday, May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet The Treasury Department is delaying plans to issue proposed guidance for the sourcing of electric vehicle batteries for federal tax incentives… Continue reading Treasury Department delays electric vehicle tax credit guidance until March
Author: CNBC Online news
How disrupting the used car market caused Carvana to succeed and stumble
Carvana is a used car retailer that lets customers find, tour, buy and finance vehicles completely online. The company then delivers the vehicles straight to a customer’s home or allows them to pick up their purchase from one of Carvana’s 33 fully-automated car vending machines. It’s a business model that helped propel the company to… Continue reading How disrupting the used car market caused Carvana to succeed and stumble
The best bang for your buck: These 10-year-old used cars cost less than $16,000 and could go for another 100,000 miles
watch now When it comes to car buying, there may be fewer deals out there, but there is still plenty of value to be had. To that end, cost-conscious car shoppers are increasingly seeking out used vehicles in good condition. To be sure you get what you pay for, check for excess wear and tear beyond… Continue reading The best bang for your buck: These 10-year-old used cars cost less than $16,000 and could go for another 100,000 miles
Elon Musk polled Twitter on whether he should step down as CEO. Most voters said yes
watch now Twitter’s new owner and CEO, Elon Musk, posted an informal poll of the social media platform’s users Sunday asking if he should step down as head of the company. At 6:20 a.m. ET on Monday, the poll ended with a majority of respondents (57.5%) calling for the billionaire to leave his post. More than 17… Continue reading Elon Musk polled Twitter on whether he should step down as CEO. Most voters said yes
Ford again hikes the starting price of the F-150 Lightning pickup, now up 40% since launch
Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC DETROIT – Ford Motor has once again increased the starting price of its electric F-150 Lightning, citing higher raw material costs for the pickup truck. The new price of the… Continue reading Ford again hikes the starting price of the F-150 Lightning pickup, now up 40% since launch
U.S. safety regulators investigating GM’s Cruise robotaxis blocking traffic, causing collisions
A Cruise vehicle in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images U.S. automotive safety officials have opened a formal probe into the autonomous driving system used by General Motors’ self-driving vehicle unit Cruise. The National Highway Traffic Safety Administration said it has received complaints about the… Continue reading U.S. safety regulators investigating GM’s Cruise robotaxis blocking traffic, causing collisions
Elon Musk sells another huge chunk of Tesla shares
Anadolu Agency | Anadolu Agency | Getty Images Tesla CEO Elon Musk has sold about 22 million more shares of his electric vehicle business, which were worth around $3.6 billion, according to a financial filing out Wednesday night. The transactions took place between Monday and Wednesday of this week according to the filings with the Securities and Exchange… Continue reading Elon Musk sells another huge chunk of Tesla shares
Tesla shares have fallen 28% since Elon Musk took over Twitter, lagging other carmakers
CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing “Cyber Rodeo” grand opening party in Austin, Texas, on April 7, 2022. Suzanne Cordeiro | AFP | Getty Images Shares in electric vehicle maker Tesla have fallen 28% since October 27, when CEO Elon Musk bought Twitter and appointed himself “Chief Twit,”… Continue reading Tesla shares have fallen 28% since Elon Musk took over Twitter, lagging other carmakers
Used car prices are down 3.3% from a year ago — but still ‘grossly inflated,’ auto expert says. Here’s where to find deals
Westend61 | Westend61 | Getty Images In the latest inflation reading, used cars are one of the few categories with prices that are lower than they were a year ago. While the consumer price index — which measures price changes for a variety of consumer goods and services — was up 7.1% in November from… Continue reading Used car prices are down 3.3% from a year ago — but still ‘grossly inflated,’ auto expert says. Here’s where to find deals
Ford boosts production of electric F-150 Lightning pickup truck
Corey Williams, plant manager at Ford’s Dearborn Truck Plant and Rouge electric vehicle center, outlines the automaker’s production plans for the F-150 Lightning electric pickup during a facility tour on Dec. 13, 2022. Michael Wayland | CNBC DEARBORN, Mich. — Ford Motor has added a third production shift to its Michigan plant that produces the… Continue reading Ford boosts production of electric F-150 Lightning pickup truck