After losing nearly $1 billion in the first half of 2022, Carvana Co. will do more to cut expenses in the coming months, including possibly further reducing employee counts at the online used-vehicle retailer. That direction from company leaders comes after Carvana already worked on cost-cutting in its second quarter, notably announcing in May that […]
Carvana shifts to cost-cutting mode after losses Read More »
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Auto supplier Dana Inc. said net income dropped by nearly 85 percent in the second quarter, reflecting lower operating earnings caused by the unfavorable impact of foreign currency values, a spike in costs and supply chain challenges. Dana reported net income of $8 million — a drop of $45 million from a year earlier. The
Dana sees profits plunge in Q2 Read More »
The Dodge Charger and Challenger replacements will go electric, the 2023 Ford Maverick Tremor debuted, and 2023 marks the end for the Nissan Maxima. It’s the Week in Reverse, right here at Motor Authority. Despite a recent report to the contrary, the Dodge Charger and Challenger replacement will be electric only with no V-8 engine
Lyft Inc. saw an earnings record and increased revenue in the second quarter amid news that the ride-hailing company laid off approximately 60 employees because of the discontinuation of its first party rental service. The San Francisco-based company said in its second-quarter earnings report Thursday that revenue rose 30 percent to $990.7 million, but income
Lyft sees uptick in Q2 revenue amid layoffs Read More »
What kind of car is the 2023 Buick Envision? What does it compare to? The Envision compact crossover SUV has a similar footprint as the Chevy Equinox but is as roomy as the Cadillac XT4 in GM’s crossover family. It competes with premium compact crossovers such as the Volvo XC60, Lincoln Corsair, and Lexus NX.
2023 Buick Envision Read More »
Tesla CEO Elon Musk told shareholders that the EV maker will have an annual run rate of 2 million vehicles by the end of this year and will continue to build new factories to join the four it currently has in operation. Musk said Tesla could announce a new factory location as soon as this
Tesla aims for 2 million-unit EV run rate by end of 2022 Read More »
We have seen plenty of footage showing cars with autonomous tech testing on public roads but the latest video from DeepRoute.ai is quite impressive, highlighting the sophisticated nature of the production-ready Level 4 capable Driver 2.0 system. The driverless prototype was tested in the city of Shenzhen in China under heavy traffic conditions, showing how
Self-driving tech startup Aurora Innovation‘s second-quarter loss widened more than sixfold as it logged a large impairment charge and continued to ramp up spending on autonomous heavy-duty trucks and robotaxis. The Pittsburgh company said its net loss widened to $1.2 billion from $182 million in the same period a year earlier. The loss included a
AV startup Aurora to prioritize autonomous trucking over robotaxis Read More »
Carvana Co. said Thursday it posted a net loss of $439 million in the quarter ending June 30 — a far cry from its landmark $45 million profit one year ago but smaller than its $506 million first-quarter loss. The online used-vehicle retailer, which has been challenged in part by high used-vehicle prices, reported progress
Carvana records Q2 net loss, notes returns from ADESA U.S. acquisition Read More »
