Vehicle listings company TrueCar swung to a net profit in the fourth quarter on the sale of its ALG subsidiary to J.D. Power in November. The Santa Monica, Calif., company on Wednesday reported net income of $88 million in the quarter that ended Dec. 31, compared with a net loss of $8.8 million in the
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By Eric Ralph Posted on February 24, 2021 CEO Elon Musk says that SpaceX’s thousands of Starlink users could see “much higher download speeds” as the company begins implementing “system upgrades.” Just the latest of the many ways that SpaceX’s first consumer-facing product continues to leapfrog stalwart, monopolistic internet service providers (ISPs) around the world,
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Joby Aviation, the 12-year-old electric air taxi startup partnered with Toyota and Uber Technologies, will go public in a $6.6 billion reverse merger with blank check company Reinvent Technology Partners, the companies said. California-based Joby aims to begin a commercial passenger service in 2024, using its electric vertical takeoff and landing (eVTOL) aircraft. Potential air
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DETROIT — Ford Motor Co. is expanding its swanky King Ranch trim to the 2021 Explorer in a bid to move the nation’s best-selling large crossover more upscale. Slotting just below the high-end Platinum trim, the Explorer King Ranch will have leather-trimmed seats, wood accents and an optional premium technology package with special seats and
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More than 1,000 Dodge Chargers have been stolen across southeastern Michigan in the past year, including some thefts from dealership lots, according to a police department in the region. Among the latest to disappear are two 2021 Charger Scat Pack models taken Feb. 2 from LaFontaine Chrysler-Dodge-Jeep-Ram of Saline. Deputy Police Chief Marlene Radzik told
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WASHINGTON — The U.S. Postal Service said on Tuesday it will award a multibillion-dollar, 10-year contract to Oshkosh Defense to manufacture a new generation of postal delivery vehicles. Under the initial $482 million investment, Oshkosh Defense, a unit of Oshkosh Corp, will finalize the production design, testing and vehicle tooling necessary prior to vehicle production.
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Listen to a recap of the top stories of the day from Electrek. Quick Charge is available now on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players. New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee
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What kind of vehicle is the 2022 Kia Carnival? What does it compare to? The 2022 Kia Carnival is a minivan formerly known as the Kia Sedona. Twenty years after its U.S. launch, Kia applies the Carnival name used in its South Korean home and most other markets. Seating up to eight passengers, the 2022
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A Subaru dealership in Wisconsin celebrated the grand opening of its new location last week by taking free portraits of customers with their pets. Bergstrom Subaru of Green Bay, one of Bergstrom Automotive’s 51 locations, invited the public to bring their pets in for a session with a professional photographer. The offer ties in with
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Automotive captive lenders are offering assistance to borrowers whose lives were upended by the winter storm that struck Texas last week. Toyota Financial Services and Lexus Financial Services will offer payment extensions and lease deferred-payment options to impacted customers. Consumers are urged to contact the lender to work out details, Toyota said in a release.
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Lucid Motors Inc. is merging with a blank-check company run by financier Michael Klein that values the combined entity at a pro forma equity value of $24 billion, the biggest in a series of deals involving electric-vehicle startups cashing in on investor appetite for battery-powered cars. The carmaker has shied away from comparisons to market
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The Cherokee Nation said it’s time for corporations such as Jeep and sports franchises to retire the use of Native American names and imagery. Jeep has used the Cherokee tag for nearly 50 years, and its Grand Cherokee has been a top seller for the off-road adventure brand. The Cherokee Nation, however, doesn’t think slapping
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The used-vehicle auction business learned one overarching lesson in 2020 — in-person auto auctions are not going away anytime soon. As the COVID-19 pandemic swept the nation, used-car auctions were often forced to change the way business was conducted and, in many states, auctions had to temporarily halt in-person sales. Even as some companies tried
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Several public retailers that largely sat on the sidelines during the dealership acquisition action of the past few years say they are getting back in the game. AutoNation Inc., Penske Automotive Group Inc., Group 1 Automotive Inc. and Sonic Automotive Inc. each indicated this month that they again are shopping for franchised dealerships and looking
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