automotive

Cox Automotive signs service deal with U.S. commercial EV maker

By Betty C. Morrow 1 month ago

By Ben Klayman

DETROIT (Reuters) – U.S. electric commercial vehicle maker Electric Last Mile Solutions (ELMS) said on Monday it has signed a letter of intent for Cox Automotive to supply service and repairs for the delivery van it will launch later this year.

Under the deal, Cox’s Pivet unit will provide warranty repairs, vehicle maintenance, roadside assistance, collision repairs and EV battery servicing to ELMS’ customers, the companies said. Cox boasts a network of more than 6,000 service centers, 3,000 partners and over 800 mobile technicians. Financial terms were not disclosed.

“The opportunity to collaborate with industry leader Cox Automotive helps put us on track to offer customers one of the most comprehensive service solutions that addresses their fleet needs in the most time and cost-efficient manner,” ELMS Chief Executive James Taylor said in a statement.

Cox, a subsidiary of privately owned Cox Enterprises, owns the Autotrader online automobile

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Penske Automotive Group

By Betty C. Morrow 1 month ago

However Japanese telecommunications firm SoftBank Group made an agreed supply for Arm on 18 July 2016, topic to approval by Arm’s shareholders, valuing the corporate at £24.three billion. Very nice sales individual and dealer will buy from them once more and check with household and associates. Excellent service, No strain, Followed through with what was promised. He labored diligently to assist me discover what I was on the lookout for whereas being straight up and keeping a sense of humor!

Of these 2019 graduates who took electives, roughly 20% discovered racing-related alternatives. NASCAR Tech’s overall employment rate for 2019 was eighty four%. Bureau of Labor Statistics , the median annual salary for automotive service technicians and mechanics in the United States was $42,090 in May 2019.25 This means half of automotive technicians earned extra and half earned much less.

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EchoPark Used-Car Dealerships Gain Momentum In Q1 For Sonic Automotive

By Betty C. Morrow 1 month ago

A more ambitious expansion of EchoPark dealerships — a network of used-car-only stores owned by new-car dealership chain Sonic Automotive — is off to a promising start, company executives said.

“We sold almost 20,000 cars,” in the first quarter at EchoPark dealerships, an increase of more than 40% vs. a year ago, said Sonic CEO David Smith, in a phone interview April 29, following up on Sonic’s first-quarter earnings announcement.

The increase is largely because Sonic is adding more EchoPark stores, but Smith said some new EchoPark locations are also reaching operating profits faster than expected. Newly added markets include Phoenix, Birmingham, Ala., and Charleston, S.C.

EchoPark revenues were $507.1 million for the quarter, up 53% vs. a year ago. Pre-tax earnings for EchoPark were $2 million, down 4%.

Sonic, based in Charlotte, N.C., opened its first EchoPark location in late 2014.

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3 Undervalued Automotive Stocks to Scoop Up Now By StockNews

By Betty C. Morrow 1 month ago

© Reuters. 3 Undervalued Automotive Stocks to Scoop Up Now

New car sales plunged amid the COVID-19 pandemic, but the automotive industry seems now to be on a path to recovery. So, we think it is wise to bet on undervalued automotive companies Oshkosh (NYSE:), AutoNation (NYSE:), and Isuzu Motors (ISUZY) to reap maximum benefits. Let’s discuss.Global car sales fell sharply amid the COVID-19 pandemic as people retreated to their homes, where they spent most of their time under lockdown mandates with nary a thought for automobile purchasing. With the gradual economic recovery, however, companies in the sector are witnessing increase in demand. In fact, in March, the U.S. vehicle market witnessed a strong recovery and saw its first quarter 2021 sales rebound to pre-pandemic levels.

Governments worldwide are pushing for increased use of electric vehicles (EVs) to transition their countries to a clean energy future. The demand for conventional,

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