Tag Archives: car

Saying Ford is driving head on into a future of electric vehicles may be an understatement. Think more along the line of hauling a-–.  The Detroit-based auto giant said Monday it will partner with SK Innovation to invest $11.4 billion to construct two “mega-sites” — one in Tennessee and the other in Kentucky — that will build electric trucks and batteries. Ford’s portion of the investment — $7 billion — is the largest manufacturing investment in the company’s 118-year-old… Source link

This year’s Monterey Car Week capped off with the stunning 1938 Mercedes-Benz 540K Autobahn Kurier claiming the Concours d’Elegance Best in Show, but that wasn’t the only big headline from the week. Big auctions, big debuts from luxury automakers, and even electrification all took a bow as the wild week, one that was missed in 2020 due to the pandemic, unfolded for well-healed car aficionados. Here are some of the big takeaways from the week. Big auction action Prior to Monterey Car Week,… Source link

Nuro EC-1 Part 1: Origin story Nuro doesn’t have a typical Silicon Valley origin story. It didn’t emerge after a long, slow slog from a suburban garage or through a flash of insight in a university laboratory. Nor was it founded at the behest of an eccentric billionaire with money to burn. Nuro was born — and ramped up quickly — thanks to a cash windfall from what is now one of its biggest rivals. Nuro was born — and ramped up quickly —… Source link

V-12 powered sports cars and rare Ferraris, each worth multiple millions of dollars, lead the line-up at this year’s annual Gooding & Company Pebble Beach auction.  “Ferrari has been in such strong demand for such a long time because they build absolutely fantastic cars,” President and CEO David Gooding told Yahoo Finance Live. “There’s everything about them that is magical.”  Gooding is the official auction house of the iconic Pebble Beach Concours d’Elegance which concludes on Aug. 15…. Source link

Americans should be cautious before buying a car amid high prices and low inventory within the automotive industry, Rodo CEO Nathan Hecht said in an interview with Yahoo Finance. “I think the only reason you buy into this market today is if you really need a car,” Hecht said. “As we get into September, October, November, new car inventories should start to replenish, not to their normal levels, but just replenish as factory output increases.” Demand for both new and used cars is on the… Source link

Monterey Car Week 2021 promises a return to multimillion dollar deals as auction houses like Mecum roll into town for the iconic Pebble Beach Concours d’Elegance on Aug. 15.  “We’re all very excited to be going back to Monterey after having to take off last year, 2020, because of the pandemic and missing car week,” Mecum Auctions CEO Dave Magers told Yahoo Finance Live. Mecum Auctions is one of the world’s largest collector car auction companies and will have 600 vehicles crossing the auction… Source link

More mobile consumers after getting a COVID-19 vaccine hasn’t slowed the online car buying boom that the pandemic helped create. At least that’s a takeaway from the second quarter earnings out of online car-selling leader Carvana (CVNA). Carvana said Thursday evening that it sold 107,815 retail units in the second quarter, up 96% from a year ago. It marked the company’s first time selling over 100,000 units. The company saw a record level of gross profit per unit. Some $45 million in net… Source link

Baltimore County Police Department For about a year, a Baltimore woman allegedly drove a car with a gruesome secret: the dead body of her 7-year-old niece stashed in a suitcase in the trunk. Then in May she allegedly cracked the trunk’s lid to dump the body of her 5-year-old nephew beside it. It wasn’t until months later that police discovered the decomposing bodies of siblings Joshlyn Marie James Johnson and Larry Darnell O’Neal. Baltimore County Police said in a statement Thursday night… Source link

Supply constraints and increased demand drove the average price of a new car to $41,044 in July, an all-time high, according to J.D. Power’s latest U.S. Automotive Forecast. “We can’t get to $41,000 without both a supply chain issue that we’re seeing from microchips, as well as increased consumer demand that is not being met with the supply available,” J.D. Power Vice President of Data & Analytics Tyson Jominy told Yahoo Finance.  The previous high, set in June, was $39,942. “Too few vehicles… Source link

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