A salesman walks past used Toyota Motor vehicles at the Brent Brown Toyota dealership in Orem, Utah, on Monday, April 6, 2020. George Frey | Bloomberg via Getty Images DETROIT — Used vehicle prices are expected to come down further this year amid rising interest rates and improved availability of new cars and trucks, according… Continue reading Used vehicle prices are falling but not enough to offset grossly inflated levels
Author: CNBC Online news
Rolls-Royce sees record sales in 2022, no slowdown in spending by the wealthy
Rolls-Royce sold a record number of cars in 2022 as demand for its $500,000 vehicles remained strong, despite recession fears, according to CEO Torsten Muller-Otvos. “We haven’t seen any slowdown or downturn,” Muller-Otvos told CNBC. “We haven’t seen any negative impact.” Rolls-Royce delivered 6,021 cars last year, up 8% over 2021 and the first time… Continue reading Rolls-Royce sees record sales in 2022, no slowdown in spending by the wealthy
India is learning to love electric vehicles — but they’re not cars
Bollywood actor and promoter of the startup Ultraviolette Automotive Private Limited, Dulquer Salmaan (C) along with the founders, Chief Executive Officer Narayan Subramaniam (R) and Chief Technology Officer Niraj Rajmohan pose for a photograph during the unveiling of F77, India’s first high performance electric motorcycle designed and developed by the company, in Bangalore on November… Continue reading India is learning to love electric vehicles — but they’re not cars
Tesla breaks into America’s bestselling cars list for 2022, but trucks still dominate
A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S., on Thursday, April 14, 2022. Bing Guan | Bloomberg | Getty Images DETROIT — Pickup trucks again led America’s top-selling vehicles last year, but Tesla broke into the top 10 for the first… Continue reading Tesla breaks into America’s bestselling cars list for 2022, but trucks still dominate
Elon Musk attorneys aim to move trial from California to Texas, citing ‘local negativity’
Tesla CEO Elon Musk speaks at an event in Hawthorne, California April 30, 2015. Patrick T. Fallon | Reuters Attorneys for Tesla and Elon Musk are asking a federal judge in San Francisco to move, or delay, a forthcoming trial from Northern California to Western Texas, saying they won’t be able to find unbiased jurors… Continue reading Elon Musk attorneys aim to move trial from California to Texas, citing ‘local negativity’
Automakers are cautiously optimistic for a 2023 rebound after worst new vehicle sales in more than a decade
New Jeeps on display at a New York City car dealership on Oct. 5, 2021. Spencer Platt | Getty Images DETROIT — Automakers are hopeful last year’s new vehicle sales — the worst in more than a decade — will mark a bottom for the market, at least in the near term. Industry estimates range… Continue reading Automakers are cautiously optimistic for a 2023 rebound after worst new vehicle sales in more than a decade
These 6 Club stocks look reasonably priced as Wall Street shuns high flyers
We’re growing increasingly worried about some richly valued companies in our portfolio, including the likes of Nvidia (NVDA) and Microsoft (MSFT). Expensive stocks remain out of favor on Wall Street — just as they had been for much of last year — and there could be more room for them to fall as recession fears… Continue reading These 6 Club stocks look reasonably priced as Wall Street shuns high flyers
Tesla suppliers’ shares jump as electric automaker cuts prices for some models in China
Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. (Photo by Marc Fernandes/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Tesla’s Chinese suppliers jumped after the electric automaker slashed prices for some models in China. In a Weibo post, the company said its… Continue reading Tesla suppliers’ shares jump as electric automaker cuts prices for some models in China
Andretti joins forces with General Motors for Cadillac Formula 1 entry bid
Michael Andretti, team owner of Walkinshaw Andretti United, looks on during qualifying for Supercars Adelaide 500 on March 2, 2018 in Adelaide, Australia. Daniel Kalisz | Getty Images Sport | Getty Images Andretti have teamed up with General Motors in a bid to enter Formula 1 which, if successful, would also see the famous Cadillac… Continue reading Andretti joins forces with General Motors for Cadillac Formula 1 entry bid
Ram previews new electric pickup to rival Ford, Rivian and others
Ram 1500 Revolution BEV electric concept truck Stellantis Ram Truck previewed its upcoming electric pickup Thursday at the CES technology show, as the automaker plans its entrance into the emerging segment next year to compete with Detroit rivals as well as Rivian and, potentially, Tesla. The Stellantis truck brand revealed the Ram 1500 Revolution BEV… Continue reading Ram previews new electric pickup to rival Ford, Rivian and others