LIFO relief for car dealers passes Senate; fate in House undecided
In April, U.S. Rep. Dan Kildee, D-Mich., introduced a bill — the Supply Chain Disruptions Relief Act — which would allow dealerships that use the "last in, first out" inventory...
NHTSA probes two more Tesla crashes
WASHINGTON -- The National Highway Traffic Safety Administration said on Thursday it has opened two new special investigations into crashes involving Tesla Inc. vehicles where advanced driver assistance systems are...
Tesla shares suffer worst year ever, 2023 looks bad, too
Yet when it comes to valuation, Tesla is still the fourth-most expensive stock on the NYSE FANG+ Index, trading at a forward multiple of 33 times estimated 2022 earnings. Worth...
McLaren recalls just launched Artura in U.S. for faulty nuts
McLaren Automotive is recalling 164 of its new Artura plug-in hybrid supercars in the U.S. for faulty nuts on high-pressure fuel pipes that can lead to a fuel leak. According...
China supply chains subject of U.S. Senate panel inquiry
WASHINGTON -- The U.S. Senate Finance Committee asked eight major automakers, including General Motors, Tesla, Ford and Honda to answer questions about their Chinese supply chains, according to letters made...
LMP Automotive under contract to sell 2 more dealerships as it continues plans for liquidation
Growing Morgan Automotive Group of Tampa, Fla., bought two Florida Kia dealerships from LMP Automotive Holdings Inc. last week and bought a Florida Stellantis store in a separate, unrelated November...
Tesla dispatches Shanghai boss, aides to jumpstart U.S. output
SHANGHAI -- Tesla has tapped China chief Tom Zhu to troubleshoot production engineering challenges in the United States, according to two people with knowledge of the matter. They are working...
CarMax Q3 retail used-vehicle sales fall 21% as net income plunges 86%
Used-vehicle retail giant CarMax Inc. said Thursday that persisting affordability challenges and deteriorated used-car market conditions again hampered the number of vehicles it was able to sell in its fiscal...
Why is Tesla putting $7,500 discounts on certain models?
Tesla Inc. is offering U.S. consumers $7,500 to take delivery of its two cheapest models before year-end, a move likely to foment more debate over the extent of the carmaker’s...
TuSimple to lay off 25% of workforce
TuSimple Holdings Inc. said Wednesday it will lay off 25 percent of its workforce, or nearly 350 employees, as the self-driving truck company seeks to chart a course out of...