A Li L6 by Li Auto is displayed at its booth during the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024. Tingshu Wang | Reuters BEIJING — Chinese new energy vehicle brands Li Auto and Zeekr each delivered a record number of cars in September, according to company data… Continue reading Chinese EV brands Li Auto and Zeekr report record deliveries for September
Author: CNBC Online news
Why the Fed’s rate cut won’t immediately help car buyers or sales
Alex Tovstanovsky, owner of used-car dealer Prestige Motor Works, checks on inventory with his general manager Ryan Caton in Naperville, Illinois, May 28, 2020. Nick Carey | Reuters DETROIT — The Federal Reserve’s decision to cut interest rates for the first time in more than four years is expected to eventually boost new vehicle sales,… Continue reading Why the Fed’s rate cut won’t immediately help car buyers or sales
6 strategies to help mitigate rising car and home insurance costs
watch now The cost of insuring your most expensive assets has skyrocketed. While overall inflation has slowed, insurance costs are taking a bigger bite out of many household budgets. The average annual rate for homeowners insurance increased by nearly 20% between 2021 and 2023 — and homeowners can expect another 6% increase in 2024, according… Continue reading 6 strategies to help mitigate rising car and home insurance costs
Ford aims to boost EV sales, address owner concerns with new benefits program
The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor is aiming to boost sales of its electric vehicles by addressing potential customer concerns through a new program that includes free home-charging installation and other benefits. The “Ford Power Promise” program… Continue reading Ford aims to boost EV sales, address owner concerns with new benefits program
Stellantis and Aston Martin shares drop sharply after profit warnings amid China woes
The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. Jeff Kowalsky | Afp | Getty Images Stocks of European carmakers hemorrhaged on Monday as Stellantis and British luxury brand Aston Martin issued profit warnings, citing broader industry challenges and difficulties in the world’s largest… Continue reading Stellantis and Aston Martin shares drop sharply after profit warnings amid China woes
Elon Musk’s X will be allowed back online in Brazil after paying one more fine
The Federal Supreme Court (STF) in Brazil suspends Elon Musk’s social network after it fails to comply with orders from Minister Alexandre de Moraes to block accounts of those being investigated by the Brazilian justice system. Cris Faga | Nurphoto | Getty Images X has to pay one last fine before the social network owned… Continue reading Elon Musk’s X will be allowed back online in Brazil after paying one more fine
Why U.S. auto factories are so unproductive
Automotive factories throughout the United States and around the world are not producing nearly as many cars as they need to in order to be profitable. A mixture of factors are driving down productivity, but two stand out. First, new car demand simply hasn’t snapped back to pre-pandemic levels. A record 17.5 million cars sold… Continue reading Why U.S. auto factories are so unproductive
U.S. new vehicle sales expected to have struggled during third quarter
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images DETROIT — U.S. sales of new vehicles are expected to have struggled during the third quarter amid economic and political uncertainties, as well as elevated interest rates and… Continue reading U.S. new vehicle sales expected to have struggled during third quarter
Connecting your phone to rental car infotainment system? There is a big, hidden privacy risk
The recent data breach that exposed the sensitive information of some 300,000 Avis customers highlighted some critical vulnerabilities within the rental car industry. Yet, there’s another, often overlooked security risk when drivers use a rental car: the personal data you unknowingly leave behind when syncing your mobile device to a rental car’s infotainment system. According… Continue reading Connecting your phone to rental car infotainment system? There is a big, hidden privacy risk
China’s auto stocks rise unfazed by U.S. proposal to ban Chinese car parts
Rows of new energy vehicles are parked at Changan Automobile’s vehicle distribution center in Chongqing, China, on January 14, 2024. Costfoto | Nurphoto | Getty Images Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad… Continue reading China’s auto stocks rise unfazed by U.S. proposal to ban Chinese car parts