Month: January 2022

Study says nearly half of consumers plan to preorder their next new car

Will you preorder your next car online, and maybe even buy it fully digitally?

Caiaimage/Martin Barraud

For decades, American car sales have followed a script: Hopeful buyers head to their local dealership, stroll the aisles and aisles of shiny new sheetmetal, test-drive a couple of models, sign on the dotted line and drive home in their new vehicle. But that process is changing, according to a new study from Today, fully 41% of survey respondents say they plan to preorder their next vehicle. And among the 16% of shoppers questioned who actually already preordered a new vehicle, 98% enjoyed the experience and said they’d do so again.

The study suggests that the reasons for this go beyond inventory shortages wrought by the COVID-19 pandemic and supplier issues that include the semiconductor production crisis. says “work-from-anywhere culture” and innovations in car-shopping technology — especially online purchasing are

Read More

Bidding hit $3.6M for first edition 2023 Corvette Z06 at Barrett-Jackson auction Saturday. See other top sellers, too

The first 2023 Corvette Z06 70th anniversary edition to roll off the retail production line went for $3.6 million on Saturday at Barrett-Jackson.

The weekends are always big for the annual auction in Scottsdale, but the chance to own the first 70th-anniversary edition of America’s sports car was sure to draw crowds. And have bidders reaching deep into their pockets for VIN 001.

The corvette was auctioned for charity, with all the proceeds benefitting Operation Homefront. Another $100,000 was donated to the cause, taking the total raised to $3.7 million for the charity that supports military families.

Rapper and singer Pitbull auctioned a car for charity. His 2022 Karma GS-6 went for $500,000 to benefit the SLAM Foundation and Selfless Love Foundation, two charities that help underserved youth. Plus, another $200,000 was donated to the charities.

Saturday’s top non-charity sale was a 2004 Porsche Carrera GT that went for $1.98

Read More

What the automotive sector needs

a car is lined up in a parking lot: Budget 2022: What the automotive sector needs

© Nitin Agrawal
Budget 2022: What the automotive sector needs

The Indian automotive industry awaits some much-needed respite from the 2022 Union Budget, hoping for some crucial policy introductions that can pave the road to its recovery.

After coping with the after-effects of BS-VI regulations, followed by COVID’s relentless two-year-long assault, the need for support from the government remains at an all-time high, with the semiconductor shortage and existing commodity and fuel price hike having slowed down demand. Stable, consistent and long-term policies appear to be the buzzwords collectively emanating from the grapevine. Here are some of the need-of-the-hour exemptions and incentives that could turn things around for the Indian automotive industry.

The EV Sector

If there’s one sector that’s shown considerable promise over the last year, it’s the EV sector. However, EV infrastructure along with PLI scheme incentives for the 250 plus EV start-ups remain areas that need working

Read More

Here’s How Nvidia Will Power Automotive Giants

Nvidia (NASDAQ:NVDA) is providing automotive companies with advanced solutions for hardware, software, and infrastructure so they can compete alongside Tesla when it comes to autonomous driving technology. In this Backstage Pass clip from “The AI/ML Show” recorded on Jan. 12, Motley Fool contributor Jose Najarro explains Nvidia’s role in supporting automobile giants as they develop self-driving vehicles. 

Jose Najarro: For those other automobile companies that don’t have the power like Tesla, they look to Nvidia for solutions. That’s where Nvidia is working, they’re creating solutions for the other automobile industries or automobile giants that don’t have maybe the type of talent or engineer that Tesla might have. I’m going to share, and we’re going to look at all the different solutions that they have and obviously, we’re going to talk about some of the chips.

First, they have solutions for the hardware, software, and infrastructure. Let’s start off with

Read More