Carvana’s stock plunge triggers cascade of warnings on Wall Street

As online used-car dealer Carvana Co.’s share price unwinds at a fever pitch, Wall Street analysts are slashing targets and warning conditions could worsen. With the company’s shares spiraling down a staggering 97 percent this year, analysts’ average price targets struggled to keep pace, despite coming down sharply. That changed this month, and in just […]

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Venture capitalists on auto, mobility tech startups

Tech startups in the automotive industry and mobility space are phenomenal at innovating but terrible at scaling up their operations, Quin Garcia, co-founder and managing director of Silicon Valley venture capital firm Autotech Ventures, said Friday at the Automotive News Congress in Los Angeles. During a wide-ranging discussion about venture capital-backed startups partnering with established

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Amazon backed out of taking a stake in Argo. Then the self-driving startup folded

Amazon.com Inc. emerged as a potential savior for Argo AI, the now-defunct startup backed by two of the world’s biggest automakers, before the deal fell apart because of a sputtering economy, concerns about control and flagging faith in fully autonomous driving. The online retailer was prepared to invest several hundred million dollars into Argo last

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Kia’s New Logo Apparently Has 30k People Googling For “KN Car” Every Month

Kia launched their new logo with a record-breaking pyrotechnic display in 2021, but it appears a number of consumers are confused by the new design. In particular, Twitter user @Shwinnabego noticed Google searches for “KN car” have increased significantly since the summer of 2021 when models with the new logo were becoming more common. This

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Largest U.S. rail labor union votes against contract, raising strike risk

WASHINGTON/LOS ANGELES — Workers at the largest U.S. rail union voted against a tentative contract deal reached in September, raising the possibility of a year-end strike that could cause significant damage to the U.S. economy and strand vital shipments of food, automobiles and fuel. Train and engine service members of the transportation division of the

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Domino’s launches fleet of Chevy Bolt EVs for pizza delivery

Your next pizza could be delivered by an electric vehicle. Ann Arbor, Mich.-based Domino’s Pizza Inc. announced Monday that it will roll out a fleet of nearly 800 Chevy Bolt electric vehicles around the country to deliver pizza orders — the largest such EV delivery effort. Doing so offers advantages for the company, executives said

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