Which Electric Vehicle Stock is a Better Buy?

Today I’ll analyze and compare Mullen Automotive (MULN) and Cenntro Electric Group (CENN) to determine which electriv vehicle stock is currently a better buy. – StockNews

The electric vehicle (EV) market is growing at a solid pace, with over 6.6 million EVs being sold across the globe in 2021, representing more than a 100% increase compared to 2020. In addition, EV market share soared from  4.11% in 2020 to 8.57% in 2021. 

With the ongoing high demand for low emission vehicles and government support via subsidies and tax rebates, the global EV industry is anticipated to hit $802.81 billion by 2027, growing at a CAGR of 22.6%, Allied Market Research reports. Consequently, EV makers should benefit from the industry’s growth in the long term. 

In this article, I am going to analyze and compare two EV penny stocks, Mullen Automotive, Inc. (MULN) and Cenntro Electric

Read More

GM shuts downs Marketplace, the app that let you buy gas and coffee from your car’s screen

General Motors is shutting down its in-car shopping app, Marketplace, which allowed customers to buy coffee, pay for gas, or make restaurant reservations from the infotainment screen of their vehicles. The service will be discontinued March 2022. (The news was first reported by CNBC.)

The app, which was first introduced in 2017, was part of GM’s mission to redesign the driving experience to include more smartphone-style features, as well as create new revenue streams through partnerships with third-party companies. When it was announcedhat, GM described Marketplace as “the automotive industry’s first commerce platform for on-demand reservations and purchases of goods and services.”

GM said its plans to discontinue Marketplace were the result of Xevo, a connected car software supplier, exiting the business. But this doesn’t signal the end of GM’s attempts to make in-car shopping a thing: the automaker says it will likely roll out a new

Read More to Buy Accu-Trade for $65 Million

Automotive marketplace platform is finalizing a deal to acquire 100% of the assets of Accu-Trade for $65 million in cash at closing, with the chance for additional cash and stock depending upon reaching particular financial thresholds.

Accu-Trade’s assets include Galves Market Data and MADE Logistics, which includes real-time, VIN-specific appraisal and valuation data, according to a press release on Tuesday (Feb. 8). expects to make a $63 million earn-out payment, which could be higher or lower. The deal is anticipated to close in 30 days.

See also: Auto Retailers Tap Tech to Cut Risk of Finding, Buying Used Cars in Unfamiliar Places

Alex Vetter, CEO, said Accu-Trade is the perfect company for to jump into the “rapidly growing multibillion-dollar digital vehicle acquisition and remarketing category,” with its state-of-the-art tech for both appraisals and valuations.

“These solutions will drive better inventory management and maximize profits for dealers

Read More

3 Stocks to Buy as Used Car Prices Continue to Soar

Used car prices are expected to continue climbing in the near term as the global semiconductor chip shortage persists and demand for private vehicles rises amid the resurgence of COVID-19 cases. So, we think it could be wise to bet now on quality used car retail stocks AutoNation (AN), Group 1 Automotive (GPI), and Sonic Automotive (SAH). Read on. – StockNews

The demand for private vehicles is rising as the COVID-19 omicron variant cases surge. This, together with the ongoing semiconductor shortage and supply chain constraints that have been hampering the production of new vehicles, are causing used car prices to rise.

Referring to the Manheim index of used car prices, market researcher Jim Bianco said on Dec. 26, “In the last four months, they’ve gone up in price more than 20%. Not only is that more than the S&P, but over the last four months that’s more

Read More