Autos
Cost to finance a new car hits a record $656 per month — and auto shoppers could pay even more with latest Fed rate hike
Fg Trade | Istock | Getty Images Shortages, interest rates are pushing up prices “Simply put, there is not enough supply of sellable vehicles to support demand,” said Jeff Schuster, LMC Automotive’s president of Americas operations and global vehicle forecasts, in a forecast published jointly with J.D. Power. In addition to a persistent shortage of […]
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Tesla hikes U.S. prices across car models
Interior view of a Tesla showroom on April 26, 2022 in New York City. Kena Betancur | Corbis News | Getty Images Tesla raised prices for all its car models in the United States, its latest price hike amid ongoing global supply-chain issues. The electric carmaker increased its Model Y long-range price to $65,990 from […]
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GM investing $81M to hand build ultra-exclusive Cadillac Celestiq electric cars
Front driver’s side view of the Celestiq show car, which GM is expected to unveil in late-July. GM DETROIT – General Motors on Wednesday said it is investing $81 million at its global design and technology campus in suburban Detroit to hand build the upcoming Cadillac Celestiq – a new electric flagship car for the […]
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Ford CFO says inflation has erased Mustang Mach-E profits, but isn’t hurting demand for new vehicles
The Mustang Mach-E is Ford’s first new all-electric vehicle under an $11 billion investment plan in electrified vehicles through 2022. Michael Wayland | CNBC Ford Motor’s CFO said Wednesday that the company isn’t yet seeing consumer demand for new vehicles drop off – but rising commodity costs have wiped out the profit it initially expected […]
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Chinese Tesla rival Nio launches new electric SUV as competition heats up
Nio’s ES7 sports utility vehicle adds another competitor to Tesla’s Model X and Model Y in China. Nio Nio on Wednesday launched the ES7 sports utility vehicle as competition with Tesla intensifies in China. The ES7 adds another competitor to Tesla’s Model Y and Model X in China as the competition in the electric SUV space ramps up. Nio is trying to differentiate its electric SUV by highlighting the technology features of the […]
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U.S. safety agency says Tesla accounts for most driver-assist crashes, but warns data lacks context
The NTSB released this image of a 2021 Tesla Model 3 Long Range Dual Motor electric car that was involved in a fatal accident near Miami that killed two people on Sept. 13, 2021. NTSB Tesla vehicles have accounted for nearly 70% of reported crashes involving advanced driver-assist systems since last June, according to federal figures […]
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Ford issues stop-sale of electric Mustang Mach-E crossovers due to potential safety defect
People visit Ford’s all-electric SUV Mustang Mach-E at the 2019 Los Angeles Auto Show in Los Angeles, the United States, Nov. 22, 2019. Xinhua via Getty Images DETROIT – Ford Motor is instructing dealers to temporarily stop selling electric Mustang Mach-E crossovers due to a potential safety defect that could cause the vehicles to become […]
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Make these money moves before the Fed hikes rates again
Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images The Federal Reserve is again poised to raise interest rates in an attempt to slow down the highest inflation in four decades without pushing the U.S. economy […]
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Most factories in Shanghai resume work as Covid controls ease, ministry says
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according […]
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BYD is selling so many electric cars it’s become one of the top three automakers in China
One of BYD’s bestselling electric car models, the Han, is on display during an auto show in Shenzhen on June 5, 2022. Anadolu Agency | Anadolu Agency | Getty Images BEIJING — Chinese electric car maker BYD saw sales more than double in May, solidifying the company’s climb into the ranks of the top three […]
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