Customers’ struggles to pay bills can erode the future dealership business. “The surge in delinquencies coincides, perhaps not surprisingly, with a steep drop in new auto loans, particularly among borrowers with lower credit scores,” wrote Hoenig. The amount borrowed for vehicles in the first quarter by consumers ages 18 to 29 fell 25 percent from …
Gen Z, millennials late on car payments as student loans loom Read More »
Once a popular meme stock candidate, Mullen Automotive, Inc. (MULN) is witnessing a downward spiral, with shares falling close to 100% over the past year. The past month alone has seen a 63.3% drop in share price, with the stock hovering near its 52-week low of $0.10 recorded on July 5, 2023. While MULN continues …
Free2move Charge is broken down into three arenas: home, business and a public-facing component for customers wherever they go that includes access to charging networks. Free2move Charge Home will support consumers with installation, financing and warranty of home charging and other energy hardware and services. The company said options can involve AC charging cables and …
The Edmunds ChatGPT plug-in helps consumers in their car purchasing decisions by offering access to original expert vehicle reviews and local inventory. It is available now to all ChatGPT Plus users in the ChatGPT plug-in store under the name “Edmunds Cars.” Once the Edmunds plug-in is enabled, users can converse with ChatGPT as usual. When …
Online car shopping sites turn to ChatGPT to enhance user experience Read More »
Running below and to the side of the display is an ‘Interaction Bar’ combining touch-sensitive controls and lights that can be animated to give messages, for example to indicate an incoming phone call or show when it’s safe to open the door. BMW says it has reduced interior buttons on the car, while retaining those …
Fully automated self-driving cars are still a thing of the future. But consumers in 2023 can get a taste of what is commonly described as “hands-free driving capability,” which is a vehicle equipped to automatically accelerate, brake and steer for the driver without the driver needing to keep hands on the steering wheel. Only a …
The most significant hands-free driving system of 2023 Read More »
Macron, who personally met with ProLogium CEO Vincent Yang at the start of the vetting process, was due on Friday to officially announce in Dunkirk the 5.2-billion-euro ($5.7 billion) investment. Gilles Normand, ProLogium executive vice-president, said that after Macron, a former investment banker, pitched Yang more than a year ago Finance Minister Bruno Le Maire …
France beats Germany, Netherlands to host the ProLogium battery plant Read More »
Austin Russella 28-year-old automotive technology billionaire, acquired an 82 percent stake in Forbes Global Media Holdings, parent of the well-known Forbes business magazine. The deal values the company at close to $800 million, the parties said in a statement Friday. The seller, Hong Kong-based Integrated Whale Media Investments will retain a minority stake. The Forbes …
Luminar CEO Austin Russell buys 82% stake in Forbes Read More »
Tesla missed market estimates for first-quarter total gross margin after cutting prices in the US and globally. The electric vehicle maker reported a total gross margin of 19 percent, compared with an expectation of 22 percent from analysts polled by Refinitiv, Reuters reported. Net income during the most recent period dropped 24 percent to $2.5 …
Tesla will shoot for volume over profit: Elon Musk Read More »
MILAN — Italian-Japanese auto parts maker Marelli has reached an agreement with unions to cut 400 jobs in Italy voluntarily, amid rising costs of raw materials and falling sales due to supply-chain problems. “On redundancies a framework agreement was reached that rules out forced layoffs,” the Italian union said in a joint statement after striking …
