Automotive

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How Toyota's Tacoma became king of the U.S. midsize truck market

The American pickup truck market is dominated by domestic brands, primarily Ford, Chevrolet, GMC and Ram. U.S. brands benefit from a loyal buyer base, and a 25% tax on imported trucks. But the Toyota Tacoma shows how a foreign automaker can find and control a niche within that market. The top-selling full-size pickup line is […]

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Mercedes-Benz workers in Alabama vote against UAW union membership

Mercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday. The results are a blow to the UAW’s organizing efforts a month after the Detroit union won an organizing drive of roughly 4,330 Volkswagen plant workers in Tennessee. Voting started Monday and ended Friday.

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Dodge and Ram boss Tim Kuniskis, father of the Hellcat, to retire from Stellantis

DETROIT – Stellantis‘ Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday. Kuniskis, who has led several of the carmaker’s brands in North America, is best known for leading Dodge for most of the last decade or so. He is

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World's top golfer Scottie Scheffler arrested on charges of assaulting officer at PGA championship event

Scottie Scheffler, the top golfer in the world, was arrested Friday and charged with felony assault on a police officer and reckless driving outside of a PGA championship event in Louisville, Kentucky. Scheffler, 27, was detained after he was seen driving on a median toward the entrance to Valhalla Golf Club, the site of the

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'Quiet wealth' takes on new meaning with super-private deals for mansions, art and classic cars

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The rich have taken “quiet wealth” to a new level, turning to private purchases of mansions, art and classic cars designed to avoid

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As Tesla layoffs continue, here are 600 jobs the company cut in California

As part of Tesla’s massive restructuring, the electric-vehicle maker notified the California Employment Development Department this week that it’s cutting approximately 600 more employees at its manufacturing facilities and engineering offices between Fremont and Palo Alto. The latest round of layoffs eliminated roles across the board — from entry-level positions to directors — and hit

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Chinese EV maker Xpeng aims to deliver its first flying car in 2026

Xpeng AeroHT, an affilaite of Xpeng, aims to deliver its flying car to customers in 2026, the Chinese electric vehicle maker’s co-president told CNBC on Friday, Last year, Xpeng AeroHT introduced the Land Aircraft Carrier — a large truck with a flying two-seater passenger electric drone inside. The flying car can detach from the truck,

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Auto incentives are back — but high interest rates weaken deals for buyers

Incentives are coming back to the auto market, but high interest rates are weakening those deals for car shoppers. “Pre-pandemic, people would see a 0% financing for 60 months and think, ‘no big deal,’ because it was available everywhere,” said Jessica Caldwell, an insights analyst at Edmunds, an auto research site. In today’s market, consumers

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Biden's EV tariffs may not be enough to stave off the threat of Chinese vehicles in the U.S.

DETROIT – President Joe Biden’s plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars and trucks on U.S. roadways. The 100% tariff announced Tuesday, up from a current import tax of about 25%, covers EVs imported from China but could still leave room for the

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Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000

SHANGHAI — Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla’s comparable Model Y. Deliveries for Onvo’s first car, the L60 SUV, are set to begin in September, the company said. Pre-sales began after Wednesday’s launch event. Nio CEO William

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