Newsday Llc | Newsday | Getty Images There was a time when Black Friday in the car-selling business meant a flurry of big sales events at dealerships whose lots were full of new vehicles. These days, with inventory still squeezed from supply chain disruptions, discounts are not as generous as they once were. And most… Continue reading Black Friday car deals are hard to come by even as prices ease. Here’s what to expect
Author: CNBC Online news
Russia relaunches Soviet-era Moskvich car brand using a former Renault plant
The relaunch of Moskvich vehicles comes as Russia strives for a self-sufficient economy as the country’s finances continue to be choked by sanctions and other ramifications of its invasion of Ukraine. Future Publishing / Contributor / Getty Images Production of the Soviet-era Moskvich car relaunched in Russia on Wednesday at a former Renault factory, according… Continue reading Russia relaunches Soviet-era Moskvich car brand using a former Renault plant
The future of parking is in New York — and it costs at least $300,000 per space
watch now Hidden deep below some of New York City’s most luxurious apartment buildings is an exclusive world of futuristic parking spaces where high-end vehicles are parked and retrieved by robotic parking systems. The high-tech spots are a rare amenity in the Big Apple, and if you want your car to occupy one of these… Continue reading The future of parking is in New York — and it costs at least $300,000 per space
Hyundai is on a hot streak in the U.S., but Biden’s Inflation Reduction Act could spoil it
Drew Angerer | Getty Images News | Getty Images SAVANNAH, Ga. — Hyundai Motor Group is having its best years ever in the U.S. The South Korean automaker has successfully moved from bargain economy vehicles and dancing hamsters to competing against formidable automakers in the highly profitable American market. related investing news The company’s Hyundai,… Continue reading Hyundai is on a hot streak in the U.S., but Biden’s Inflation Reduction Act could spoil it
Elon Musk says he will reinstate Twitter account of former President Donald Trump after online poll
An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration in Warsaw, Poland on 08 November, 2022. STR | Nurphoto | Getty Images New Twitter owner and CEO Elon Musk announced that he will reinstate the Twitter account of former President Donald Trump on Saturday. Musk ran… Continue reading Elon Musk says he will reinstate Twitter account of former President Donald Trump after online poll
How BlackBerry moved from iconic cellphones to cybersecurity
BlackBerry was once at the top of the smartphone market in the U.S. In 2010, almost half of smartphone subscribers in the U.S. used BlackBerrys, according to Comscore. The phones were well-known for having a tactile keyboard and for BlackBerry’s advanced cybersecurity — often favored among businesses and governments. related investing news Morgan Stanley downgrades… Continue reading How BlackBerry moved from iconic cellphones to cybersecurity
Carvana lays off 1,500 employees following stock free fall
A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Carvana is laying off about 1,500 people, or 8% of its workforce, Friday following a free fall in the company’s stock this year, a weakening used vehicle market and concerns around the company’s long-term trajectory, according to… Continue reading Carvana lays off 1,500 employees following stock free fall
You can take a 500-mile round-trip taxi from Saudi Arabia to the Qatar World Cup for $532
A general view of the skyline from the Doha Corniche on March 31, 2022. Nick Potts – Pa Images | Getty Images DUBAI, United Arab Emirates — The Dubai-based rideshare app Careem is offering inter-country taxi journeys for the 2022 World Cup in Qatar, as millions of soccer fans from around the world descend on the… Continue reading You can take a 500-mile round-trip taxi from Saudi Arabia to the Qatar World Cup for $532
GM EV unit BrightDrop expects $1 billion in 2023 revenue, mass production of all-electric delivery vans to start in December
watch now BrightDrop CEO Travis Katz says he’s “charged up” about 2023 and the forecast for the General Motors EV unit to top $1 billion in revenue in 2023. The announcement, tied to General Motors’ investor day on Thursday, is the first time BrightDrop has released revenue numbers. The company did not release revenue data… Continue reading GM EV unit BrightDrop expects $1 billion in 2023 revenue, mass production of all-electric delivery vans to start in December
GM expects EV profits to be comparable to gas vehicles by 2025, years ahead of schedule
Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE General Motors expects its new electric vehicle profits to be in-line with cars and trucks with traditional engines by 2025 – years ahead of schedule and what many thought was possible. GM CEO Mary Barra on Thursday said the updated forecast factors in… Continue reading GM expects EV profits to be comparable to gas vehicles by 2025, years ahead of schedule