vehicles

Some U.S. car shoppers are paying $5,000 over a vehicle’s retail price

Bloomberg

Roaring Crypto Cacophony Drowns Out Rest of Wall Street

(Bloomberg) — Wild stock swings, spikes in Treasury yields, startling economic readings? Interesting, sure. But if you really want to get people’s attention right now, you need to tell them a story about crypto.And there have been a lot of those. Even for a market that’s famous for its wild volatility and gimmicks, the past week’s cryptocurrency news set new records for jaw-droppers.It began with Elon Musk’s highly anticipated appearance as host on “Saturday Night Live.” Dogecoin owners watched hoping that the “Dogefather” would further propel the digital currency that had soared this year from less than a penny to 74 cents before he took the stage.What they got instead was a skit in which he laughed after calling the coin a “hustle.” Since then, the Shiba Inu-branded coin created as a joke has lost almost half of its value.Dogecoin

Read More

CarGurus Study Finds Over Half of Canadian Car Owners Plan to Invest in Electric Vehicles in the Next Ten Years

CarGurus Study Finds Over Half of Canadian Car Owners Plan to Invest in
Electric Vehicles in the Next Ten Years

Tesla once again atop most trusted EV brand; but most shoppers open to others

CAMBRIDGE, Mass., April 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG),
a leading global online automotive marketplace, today announced its latest
consumer sentiment research focused on electric vehicles (EVs). The CarGurus
Electric Vehicle Sentiment Survey analyzed consumer feedback on an array of
EV-related topics, including the future ownership, opinions of EV brands and
vehicle styles, and overall purchase preferences.

When asked how likely they were to own an electric vehicle, 32% of respondents
noted that they were probably or definitely going to do so within the next
five years, with this number increasing to 54% within the next ten years.
There are still many consumers that would not yet consider owning one, though.
In the study, 
Read More

Apple Supplier Foxconn Teams up With Fisker to Make Electric Vehicles | Technology News

By Akanksha Rana and Ben Klayman

(Reuters) – Electric-car maker Fisker Inc said it will work with Apple Inc supplier Foxconn to produce more than 250,000 vehicles a year beginning in late 2023, sending its shares up 18%.

The deal, codenamed “Project PEAR” (Personal Electric Automotive Revolution), is looking at markets globally, including North America, Europe, China and India, Fisker said.

Foxconn, Apple’s main iPhone maker, has ramped up its interest in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group and Stellantis NV’s Fiat Chrysler unit.

Sources have said Apple is targeting 2024 to produce a passenger vehicle.

Foxconn aims to provide components or services to 10% of the world’s EVs by 2025 to 2027, Chairman Liu Young-way said in October.

The Taiwan-based company’s approach poses a major threat to established automakers that technology companies

Read More

200 vehicles catch fire at New Haven auto salvage yard | Police/Fire

The New Haven-Adams Township Fire Department and three other departments worked two hours to bring a fire at an auto salvage company in New Haven under control.

The fire was reported about 9:40 a.m. Friday at Stein Auto Salvage, New Haven-Adams Township Fire Chief Joshua Hale said. At the yard at 6405 Parrot Road, flames reached 50 feet high. The business is in an unincorporated area in Adams Township. 

About 200 cars in the area were billowing huge clouds of dark smoke and fumes, but the air quality was monitored and deemed safe for nearby residential areas, Hale said. No injuries were reported.

“There was no major wind. A lot of smoke was dissipating up into the air,” Hale said.

The fire is the second one at Stein Auto Salvage this year, although the first one was smaller. Hale blamed the fire on a malfunction in the salvage process, but

Read More