News

Jewelers have spent decades convincing consumers that little things mean a lot, but a Lexus dealership in suburban Boston has found that the adage applies to more than fancy baubles. Lexus of Watertown has been delivering surprise, custom-built boxes full of branded tchotchkes from its parts inventory to some wholesale parts and service customers and

After spotting a dealership’s help wanted sign during a small-town refueling stop led James Gramm into car sales in 1983, he became a dealer nearly 20 years later on April Fools’ Day in 2002. “The letters on the front of the building were made of Styrofoam,” Gramm told Automotive News this week, laughing as he

TuSimple Holdings, a self-driving vehicle startup that recently went through a U.S. national security review, ousted its interim chief executive officer and most of its board. Investors constituting a majority of the voting stock removed independent directors Brad Buss, Karen Francis, Michelle Sterling and Reed Werner, according to a filing Thursday. Interim CEO Ersin Yumer

WASHINGTON — Three House lawmakers have joined a push in the Senate to delay certain sourcing and manufacturing requirements in the Inflation Reduction Act’s tax credit for consumers buying new electric vehicles. Sen. Raphael Warnock, D-Ga., introduced a bill — known as the Affordable Electric Vehicles for America Act — in September that would create

Safford Automotive Group on Monday bought 16 stores in Maryland and Virginia from Brown Automotive Group, more than doubling its dealership count in the largest buy-sell transaction of 2022 so far. The deal adds 14 franchised dealerships, one used-vehicle store and a muscle and classic car store to Safford of Springfield, Va., Safford owner James

GRAZ, Austria — Fisker Inc. is poised to begin production next week as promised a year ago, although some features, including those that are common on many competing vehicles, may not be ready until 2024. Early next year, the company plans to add lane-keep assistance, blind-spot monitoring and automatic high beams to its launch edition

Tesla Inc. CEO Elon Musk sold at least $3.95 billion of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc. Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The documents didn’t indicate that the transactions were pre-planned. The world’s richest

Lucid Group Inc. reported a third-quarter net loss of $670 million but reiterated its production goal of 6,000 to 7,000 units of its Air electric sedan this year after dealing with supply chain issues and growing pains as an EV startup. The company’s stock price fell 13 percent to $11.79 in after-market trading after Lucid

Vroom Inc. said Monday it recorded a smaller net loss and took in record profit per used car and truck it sold in the third quarter as it cut costs, though revenue and volume of vehicles sold fell sharply year-over-year. The online used-vehicle retailer reported a net loss of $51.1 million for the quarter ended

DALLAS — As traffic trundled by on nearby Interstate 45, Kendra Phillips stood on a gravel parking lot and sketched a practical piece of the autonomous trucking future. Over here, the gates through which Aurora Innovation Inc.’s self-driving trucks might arrive after completing trips to Houston. Over there, scales for weighing trucks before they depart.