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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 […]

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

Tesla Inc. is recalling more than 321,000 U.S. vehicles because tail lights may intermittently fail to illuminate, the company said in a filing made public Saturday. The news follows the company’s recall on Friday of nearly 30,000 Model X cars in the U.S. over an issue that may cause the front passenger air bag to

Matt McGovern went on a dealership acquisition spree to start 2022. With the exception of April, McGovern bought one franchised dealership each month from January through June, bolstering McGovern Automotive Group’s presence in Massachusetts with five more stores. McGovern’s acquisition activity is a microcosm of the buy-sell market for the first half of the year:

Police in Michigan said a group of more than 20 people broke into a vehicle holding lot last week, had a shootout with a security guard before making off with 13 vehicles and led officers on a lengthy high-speed chase. One of the thieves died after crashing a 2022 Ford Mustang he had taken, according

While auto retailing is projected to shift toward electric vehicles by the end of the decade, that future is now for California dealers trying to keep up with demand for electric vehicles, both new and used. A critical step for Del Grande Dealer Group in Northern California is speaking the same language as its customers

As consumers purchase tens of millions of electric vehicles over the coming decade, a huge question looms over governments and the auto industry: Can the power grid keep up with significantly increased demand? “If you simultaneously plug all of those vehicles in, it is going to break the grid,” said Robert Stocker, an energy consulting

Top executives in automotive, mobility venture capital and energy focused on emerging business models, startups and innovation at the Automotive News L.A. Congress Nov. 18. Automotive News Publisher KC Crain welcomes one of the keynote speakers, Lucid Motors CEO Peter Rawlinson. Executive Editor Jamie Butters moderates a panel on venture capital partnerships with Angel Gambino, principal, startups

WASHINGTON – U.S. President Joe Biden on Friday will meet on the economy with business and labor leaders, including the chief executives of Ford Motor Co., Kaiser Permanente and Carrier Global Corp. as well as the United Auto Workers union’s president, a White House official said. The White House meeting, which will be in-person and

SAN DIEGO – Carvana Co. CEO Ernie Garcia reflected Thursday on the online used-car retailer’s tough year. “Right around this time last year, I think a number of things started to break against us, and it’s definitely been much tougher sledding since then,” Garcia acknowledged in a video teleconference Thursday at Used Car Week in