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4 mentions found


☆ A conservative way to get long legacy auto stocks as they rebound from EV troubles
  + stars: | 2024-06-13 | by ( Michael Khouw | ) www.cnbc.com   time to read: +4 min
Geologist M. King Hubbert developed the "peak oil" theory in the 1950s. He famously projected that U.S. oil production would peak between 1965 and 1970, which seemed accurate as U.S. oil production did peak around 1970. Hubbert's prediction about the U.S. oil production peak was largely accurate for conventional oil production. Still, global oil production has not followed Hubbert's anticipated timeline due to discoveries, technological advancements, and new extraction techniques. Hydraulic fracturing (fracking) and deep-water drilling have significantly increased oil production beyond what was initially thought possible.
Persons: M, King Hubbert, Hubbert, Hubbert's, I've, Ford Organizations: Federal Electric Vehicle, ICE, GM, Ford, Trade Locations: United States, California
☆ There's a Catch If You Wait to Buy Your EV Until 2024
  + stars: | 2023-10-15 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +5 min
The rules for how electric car buyers receive federal tax credits have changed. But there are caveats that EV shoppers should be aware of, experts say. Throughout 2023, car shoppers have been able to take advantage of revised EV tax credits incentivizing them to buy plug-in. But instead of receiving a rebate, they'd lose whatever amount of the used EV tax credit they were owed, if they owed fewer taxes than that. But shoppers should also beware that dealers could drive used EV prices up next year, given that the discount rules might incentivize shoppers to buy.
Persons: —, you'd, Liz Najman, Akshay Honnatti Organizations: Service, EV you've, Dealers, IRS, Tesla, Shoppers Locations: EY Americas
☆ How Kia pulled off a massive turnaround in the U.S.
  + stars: | 2023-08-31 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
When the automaker arrived in the U.S. in 1994, its cars were poorly reviewed, and it was seen mostly as a low-cost value brand. Now, Kia is winning awards and commanding higher markups than its peers. U.S. sales have gone from about 12,000 units in 1994 to almost 700,000 units in 2022. "We had a record in 2022," said Steve Center, chief operating officer of Kia America, adding that the first half of 2023 brought another sales record. But Kia believes it can take on electric as well as it took on internal combustion.
Persons: Kia, Steve Center, I've, Ivan Drury, Edmunds, We've, we'll Organizations: Kia America, ICS, BMW, Audi, U.S ., EV Locations: Korean, U.S, .
☆ Ford boosts production of Mach-E and drops prices to compete with Tesla
  + stars: | 2023-01-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN —Ford is boosting production of its popular Mustang Mach-E electric SUV and dropping its sticker price weeks after Tesla dropped prices of its vehicles. it has since been joined in the electric Ford lineup by the workhorse Ford F-150 Lightning. Tesla announced price cuts of as much as 20% on its electric vehicles earlier this month, after raising prices in 2022. Ford announced last summer that it was increasing production of the Mach-E as it added capacity for more battery production. Customers who complete the transaction for their Mach-E after today’s announcement will pay the new lower price, Ford said.
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