News

CarMax Inc.’s fiscal third-quarter earnings miss fueled further concerns about the state of used-car affordability and a larger, lingering slowdown in the used-car market. Used-vehicle giant CarMax slowed its inventory purchases from consumers in light of steep market depreciation in wholesale prices in the quarter ended Nov. 30. Company leaders said the retailer increased its […]

Tesla Inc. is offering U.S. consumers $7,500 to take delivery of its two cheapest models before year-end, a move likely to foment more debate over the extent of the carmaker’s struggle with demand. The discount Tesla is dangling on new Model 3 sedans and Model Y crossovers is double what the company was offering earlier

Driver-assist systems that lack user-friendliness not only cause drivers frustration, but it may diminish the system’s safety benefits, according to Consumer Reports. People confused by their driver-assist features might disregard them altogether. “If they are not enjoyable to use in the car, if they’re beeping at you incessantly, if they’re doing things that are unexpected

A California used-vehicle dealer has accepted a decade-long ban from the industry and paid the state $1.7 million as part of a settlement to resolve violations the state says include 650,000 misleading advertisements, 20,000 instances of “power-booking” and another 1,500 ads for which Paul Blanco also bears personal responsibility. These finance-and-insurance-related actions admitted by the

WASHINGTON — General Motors said Tuesday it is recalling 140,000 Chevrolet Bolt EVs in North America because the carpet could catch fire after a crash where a front seat belt pretensioner deploys. The U.S. automaker said the recall covers various 2017 through 2023 model year Chevrolet Bolt EV vehicles due to rare instances of front

Hyundai Motor Group elevated Genesis global COO Mike Song to executive vice president and global head of the Genesis business division. As global head, he will oversee the luxury marque’s global presence, lead its transition to an all-electric brand and develop growth and market opportunities. “I am honored to be part of Genesis’ growing momentum

Expanding ride-hailing startup Alto offers unique W-2 employment to its drivers, marking a different approach from giants Uber and Lyft. The 2018 startup launched in Dallas but has since expanded to Houston, Los Angeles, Miami, Washington, D.C., and San Francisco. Alto recently completed its millionth ride and employs about 2,000 drivers with hourly pay and

WASHINGTON — The U.S. Treasury Department on Monday said it will issue proposed guidance for the critical mineral and battery component requirements in March, effectively delaying those eligibility restrictions in the $7,500 tax credit for new electric vehicles. Under the recently signed Inflation Reduction Act, the department was required to issue proposed guidance by Dec.

Ford of Europe‘s upcoming all-electric crossover, expected to the called Explorer Sport, will be the first new model to be launched under the automaker’s American-inspired “Adventurous Spirit” marketing and design ethos. Ford teased the look of EV on social media ahead of the car’s unveiling that is expected to take place in March. Teaser pictures

A Cox Automotive employee was shot on an interstate near Birmingham, Ala., following “road rage” on Dec. 15, according to local police. Vestavia Hills Police Department responded to a report of a person shot on Interstate 65 at about 7 a.m. on Thursday, according to a Facebook post from the department. Vestavia Hills is 13