In a down year for stocks, the 65 percent drop in Tesla’s share price stands out for the scale of wealth vaporized and the unorthodox behavior of its chief executive, Elon Musk. The collapse of Tesla’s stock price destroyed about $672 billion in market value. And Mr. Musk, once hailed as a genius who remade… Continue reading Tesla Had a Bad Year. Some Investors Are Blaming Elon Musk.
Category: US Motoring Press
Cramer’s final thoughts for the year: Making sense of multiples amid a looming recession
The price-to-earnings multiples say recession. But the multiples said similar things in 2022. So how long can the multiples stay this low? We have all read dozens of articles about what 2023 will bring us. I think most are sincere. Their only drawback, as usual, is that they don’t touch on stocks themselves. They might… Continue reading Cramer’s final thoughts for the year: Making sense of multiples amid a looming recession
Auto sales for 2022 expected to be worse than 2020
After a year plagued by low inventory on dealer lots, 2022 is expected to end with automakers selling just under 14 million new vehicles for the lowest sales in more than a decade, according to Kelley Blue Book estimates released this week. Automakers will report their full-year, fourth-quarter and monthly sales next week. Full-year sales… Continue reading Auto sales for 2022 expected to be worse than 2020
New EV tax credits OK for leased vehicles, fed guidance says
Washington — Leased vehicles will likely be able to qualify for new commercial electric vehicle tax credits without meeting stringent mineral and battery requirements or being built in North America, according to U.S. Treasury Department guidance released Thursday. It’s a victory for automakers like Rivian Automotive, Hyundai Motor and Kia Corp., as well as the… Continue reading New EV tax credits OK for leased vehicles, fed guidance says
Tesla poised for delivery record despite demand concerns
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Diesel fuel prices dip in December but remain higher than usual
Diesel fuel prices have been steadily falling this month, offering relief to truckers and other customers, yet still remain historically high. Michigan’s average price per gallon is $4.85, down from $5.40 a month a ago and $5.96 at its peak in late June, according to AAA Michigan. Nationally, the average price has fallen 7 cents… Continue reading Diesel fuel prices dip in December but remain higher than usual
Volkswagen recalls Beetles to replace Takata air bags
Volkswagen is recalling nearly 42,000 Beetles in the U.S. and Canada because they have potentially dangerous Takata air bag inflators. The recall covers Beetles from the 2015 and 2016 model years. The National Highway Traffic Safety Administration says in documents posted Friday that the inflators can explode with too much force and hurl shrapnel. Takata… Continue reading Volkswagen recalls Beetles to replace Takata air bags
New 2023 Aion Hyper GT claims aero record
Chinese car maker Aion has revealed its new Hyper GT at the 2022 Guangzhou motor show, claiming a production car record 0.19 drag coefficient for the liftback-style saloon. Set for sale in China by the end of 2023, the electric-powered four-door is set to become the second model in Aion’s newly announced Hyper electric car… Continue reading New 2023 Aion Hyper GT claims aero record
TAFE acquires Faurecia’s Indian interior systems business
The Chennai-based TAFE (Tractors and Farm Equipment Ltd), an international tractor major with a well-established engineering plastics business, supplying exterior and interior automotive engineered plastic components to the automotive industry in India, has acquired global major Faurecia’s Indian interior business of French automotive supplier Group Forvia. Faurecia’s Indian arm caters to a number of automotive… Continue reading TAFE acquires Faurecia’s Indian interior systems business
New Ather e-scooter could be announced on January 7
Ather Energy is holding its community day on January 7, 2023 and it might just showcase a new product there. While not too many details are known yet, the new Ather electric scooter could be a more cost effective version of its 450X, or it could perhaps, be an all-new product altogether. Ather currently has two… Continue reading New Ather e-scooter could be announced on January 7