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DETROIT â Hyundai Motor Co. on Thursday named Jose Munoz as the next president and CEO of the South Korean automaker, effective Jan. 1. Munoz, an auto industry veteran who rose through the company’s North American ranks, will succeed current President and CEO Jaehoon Chang, who is being promoted to the vice chair of Hyundai […]
Hyundai names North American exec Jose Munoz as CEO, effective Jan. 1 Read More »
New York Gov. Kathy Hochul gave the green light Thursday to relaunch the drive for congestion pricing in New York City, a first-in-the-nation plan aimed at reducing gridlock by imposing a $9 toll on most vehicles entering the core of Manhattan during peak hours. Hochul made the announcement four months after she put the brakes on
New York City revives congestion pricing plan to end gridlock Read More »
Britain’s motor finance industry is in disarray, with analysts warning of worst-case scenarios similar in magnitude to the country’s costliest consumer banking scandal. The burgeoning crisis stems back to a landmark judgement from the U.K.’s Court of Appeal in late October, when the court ruled it was unlawful for car dealers to receive bonuses from
Tesla is recalling 2,431 Cybertrucks to replace defective drive inverters, according to notices made public by the National Highway Traffic Administration on Wednesday. It’s the sixth recall of the Cybertruck since the angular steel pickup went on sale about a year ago. The Cybertruck sells in the U.S. for a base price of around $80,000.
Tesla initiates sixth Cybertruck recall in a year Read More »
DETROIT â Volkswagen Group increased its planned investment for a joint venture with electric vehicle startup Rivian Automotive to $5.8 billion as the companies have broader aspirations than they initially announced for the team up. Investors were impressed with the details of the deal, sending shares of Rivian up nearly 20% in early Wednesday trading. The
Cars once represented a pillar of the American dream â mobility and independence. But they’ve become something of a luxury product, and customers and auto dealers are growing frustrated. The average price for a car in the U.S. is nearly $50,000, an increase of close to 30% in the past five years, according to Kelley
Why American automakers can't make cheap cars Read More »
President-elect Donald Trump said Tuesday that Elon Musk and former Republican presidential hopeful Vivek Ramaswamy will lead an efficiency group when his second term begins in January. Trump wrote in a post that the Department of Government Efficiency, or DOGE, will “become, potentially, ‘The Manhattan Project’ of our time.” He also said the group would,
Trump says Musk and Ramaswamy will lead government efficiency group Read More »
Rivian Automotive and Volkswagen Group have released details of their previously announced joint venture ahead of the operations launching Wednesday. The companies in a joint press release Tuesday said the size of the deal is now up to $5.8 billion â an increase from an initial $5 billion â with the first VW models to
DETROIT â General Motors‘ newest all-electric vehicle is a three-row SUV for its Cadillac luxury line, which the brand is dubbing a “baby Escalade.” The 2026 Cadillac Vistiq will be the last in a lineup of new EVs in the brand’s portfolio when it goes into production and arrives in dealer showrooms beginning in 2025. The
GM's newest EV is a Cadillac 'baby Escalade' called Vistiq Read More »
DETROIT â General Motors is proving it’s a standout among automakers this year as it continues to consistently outperform Wall Street’s earnings expectations and its competitors. Shares of the Detroit automaker have risen 54.7% ahead of Monday’s opening, outperforming legacy competitors, Tesla and U.S. electric vehicle startups Lucid Group and Rivian Automotive. “You may still
GM's Wall Street vindication is happening as it outperforms its peers in 2024 Read More »
