Automobile

Under its expanded targets, Asbury forecasts it will have about 225 new-vehicle dealerships by the end of 2025, up from 148 today. The retailer had 91 dealerships in 2020 when the original 2025 goals were announced. Asbury is showing…

Last year, many Democrats in Congress and President Joe Biden proposed boosting EV tax credits to up to $12,500 -- including a $4,500 incentive for union-made, U.S. assembled vehicles. Manchin -- whose state is home to a major non-union…

There has been a sharp increase in the number of catalytic converters being stolen across the country, resulting in vehicles stacking up in dealership service departments as customers endure costly and lengthy repairs and manufacturers,…

The results were buoyed by a slew of new locations. Asbury added a net $5.8 billion in annual revenue through those 2021 acquisitions, most of which closed during the final months of last year. Asbury's biggest deal was its December…

Sonic Automotive Inc.'s first-quarter net income soared 80 percent to $97.3 million despite a drop in used-vehicle sales from its growing EchoPark brand. The dealership group reported slight increase in retail sales at its expanding…

U.S. Sen. Marco Rubio is seeking information from Volkswagen Group about a pair of planned joint ventures with companies accused of having a record of alleged human rights violations such as forced labor and human trafficking. Rubio,…

In March, USPS said it had placed an initial $2.98 billion order for 50,000 next-generation delivery vehicles from Oshkosh Corp. -- and had doubled its planned EV purchases from 5,000 to 10,019. USPS said Thursday in response to the…

Hertz Global Holdings Inc. said first-quarter revenue of $1.8 billion was up 57 percent from a year ago, excluding the Donlen fleet management business sold last year. The company's adjusted earnings before interest, taxes, depreciation…

     • Cavnue's autonomous vehicle road in Michigan      • Penske's record quarter        • Nissan Z delayed        • GM Q1 earnings Source link

The inhospitable terrain of the Mojave Desert provided a formidable challenge for embryonic autonomous-vehicle technology during the DARPA challenges of the mid-2000s. Now the federal agency behind those formative competitions has plans…