Author: Yahoo Finance
Vehicle prices continued a downward trend in July — essentially the most of any major category within the Consumer Price Index (CPI) over the past 12 months because the automotive market continues its return to “normal” following pandemic-fueled inflation. Used automotive prices fell 2.3% over the prior month in July and 10.9% from the prior 12 months, data from the BLS revealed on Wednesday. Latest automotive prices fell 0.2% in July and 1.4% from the prior 12 months. In comparison with their peak in February 2022, prices paid for used vehicles are actually down 19.4%. Used automotive prices rose…
Tesla (TSLA) stock closed up nearly 5% on Monday as investors bought into CEO Elon Musk’s latest proclamation that Tesla would debut its long-awaited robotaxi on Aug. 8. Musk’s announcement of Tesla’s Robotaxi after the bell on Friday followed a Reuters report that Tesla had canceled plans to construct a long-awaited sub-$30,000 EV, which some have called the Model 2. Reuters said that Tesla would as an alternative deal with a self-driving robotaxi, with Musk responding on X that Reuters was “lying (again),” before returning to the platform later to announce the revealing of the robotaxi, generally understood to…
Luxury sports automotive and EV maker Lotus accomplished its SPAC merger last week within the U.S. and its stock was publicly traded for the primary time on Friday. It’s an interesting turn of events for the Geely-backed automaker now often known as Lotus Tech given the uncertain EV market, but one which will prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will concentrate on the upper end of the EV market with its Eletre SUV and Emeya sedan, which is able to not only be offered…
Ford confirmed that it has temporarily cut a shift at its F-150 Lightning electric pickup plant in Detroit, possibly signaling demand is drying up for the highly rated EV. “We’re adjusting the schedule on the Rouge Electric Vehicle Center due to multiple constraints, including the provision chain and dealing through processing and delivering vehicles held for quality checks after restarting production in August,” Ford said in a press release regarding the shift reduction. Ford said 700 jobs could be affected by the shift cut, and that the roles impacted weren’t attributable to the continued UAW rise up strikes. Despite…
On the lookout for a spot to hang around with all of your Tesla owning friends in L.A.? Or a brand new diner for Guy Fieri to review in his Food Network show? Well, Tesla CEO Elon Musk’s vision for a drive-in diner and movie show, is getting one step closer to becoming a reality. A pair years back, Musk had teased he was working on a grand idea for a Supercharger location in Santa Monica. In a tweet he said, “Major latest Supercharger station coming to Santa Monica soon! Hoping to have 50’s diner & 100 best movie clips playing…
