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☆ Riding with the woman in charge of America’s last muscle car
▼ + stars: | 2023-04-22 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

I could take a ride in what will soon be America’s last gasoline-powered muscle car with the woman who’s in charge of getting it into production and onto the street. Courtesy FordTransou and others at Ford will tell you there is an electric Mustang, the Mustang Mach-E SUV. As we took off, there was a burst of speed and throaty V8 engine noise as we blasted down Manhattan’s 10th Avenue. First, it’s the only actual car Ford currently sells in the United States. About 40% of V8 Mustang buyers get a manual transmission, she said, going for that truly classic driving experience.

☆ Ford F-150 Lightning fire footage highlights a growing EV risk
▼ + stars: | 2023-04-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

EV fires have become a growing concern as automakers push to increase sales of electric vehicles and meet tightening emissions standards. An electric Ford F-150 Lightning caught fire on Feb. 4, 2023 due to a battery issue traced back to one of the automaker's suppliers. A bill that requires them to complete a training program about the risk of electric vehicle fires passed unanimously this year. There's also the risk of reignition: Lithium-ion battery fires can re-engage weeks later with little to no warning. An electric Ford F-150 Lightning caught fire on Feb. 4, 2023 due to a battery issue traced back to one of the automaker's suppliers.

☆ Fewer cars qualify for $7,500 EV tax credit. Here are 2 alternatives
▼ + stars: | 2023-04-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

A $4,000 tax credit for used EVswatch nowThe Inflation Reduction Act also created a tax credit for consumers who buy used electric or fuel-cell vehicles. The tax break for used cars, which took effect this year, is worth $4,000 or 30% of the sale price, whichever is less. Those income limits are "much lower" than the one that applies to the $7,500 tax credit for new vehicles, said Katherine Breaks, a managing director in KPMG's tax credit and energy advisory services group. "If I don't have $4,000 of tax liability, what's the tax credit worth to me? A tax break for leased EVsAlternatively, consumers also appear poised to get a tax break worth up to $7,500 for leasing new electric passenger vehicles.

☆ VW, Rivian, Nissan, BMW lose access to US EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. VW said it was "fairly optimistic" the ID.4 SUV will qualify for the tax credit. Treasury also disclosed General Motors Co (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVs would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ VW, Rivian, Nissan, BMW lose access to U.S. EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. Treasury also disclosed General Motors (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Earlier, Ford Motor (F.N) and Chrysler-parent Stellantis (STLAM.MI) said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ EV tax credits 2023: Which models are eligible for up to $7,500 in tax credits?
▼ + stars: | 2023-04-17 | by ( Ella Nilsen | ) edition.cnn.com time to read: +7 min

Under the new rule, consumers can get up to $7,500 back in tax credits on eligible cars. Which models are eligible for the new EV tax credit? Nine models, mostly from foreign brands including Hyundai and Nissan, do not qualify for the new tax credit. Under the new rule, consumers can get up to $7,500 in tax credits on eligible cars. Which countries can the materials come from under the new EV tax credit rule?

☆ GM Ditches Apple CarPlay on EVs as Fight for Your Car’s Screen Intensifies
▼ + stars: | 2023-04-16 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

The 2024 Chevrolet Blazer EV, featured earlier this year at the Washington, D.C., auto show, will be equipped with GM’s new display-screen software. Apple Inc.’s CarPlay, the app that allows drivers to use their iPhones through the car’s display, has become a staple in millions of cars and trucks sold each year and a mission-critical feature for some buyers. Now, General Motors Co. is ditching the popular app on many of its new electric models, along with a similar one made by Alphabet Inc.’s Google for Android phones.

☆ The $25,000 electric vehicle is coming, with big implications for the auto market and car buyers
▼ + stars: | 2023-04-16 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

And as the Biden administration pushes changes that seek to aggressively remake the car market in favor of EVs more quickly than previously anticipated. Tesla's lowest-priced model today is the Model 3 base MSRP of $41,990. There are also more financing options available in the auto loan market designed specifically for environmentally friendly cars. "There's nothing wrong with having a basic car as a first car. Tesla said its overall efforts have driven the cost of drive units, which include the car's electric motor, as low as $1,000.

☆ How little engines are taking over American cars in a big way
▼ + stars: | 2023-04-15 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

If Americans have experience with three-cylinder engines, it would probably have been in Europe where the engines are fairly common in tiny “city cars” used for basic, around-town transportation. Now, for the 2023 model year, there are ten different models available in the United States with three-cylinder engines, according to Edmunds.com. All of these are at least offered with three-cylinder engines, if not available only with that engine. Vehicles that would have once have been powered by eight-cylinder engines now have turbocharged six-cylinder engines, instead. GM currently offers two different three-cylinder engines and, Hommes said, plans to continue selling them even as GM moves toward selling nothing but electric passenger vehicles by 2035.

☆ I'm work at a car dealership and sell 20 cars a month. Here's what buyers need to know to get the best deal.
▼ + stars: | 2023-04-14 | by ( Alexa St. John | ) www.businessinsider.com time to read: +7 min

Lindsberg Pettway Jr. spent the early part of his career in various roles in education. Pettway Jr. averages 20 car sales each month, with his team averaging 120 monthly. In addition to his sales position, Pettway Jr. mentors young men, and he's currently working on an e-book guide to the car-buying experience. We use TikTok and balance entertainment with informational pieces because sometimes people are intimidated when they go into a car dealership. Pettway Jr. says if you're shopping for a car, you need to know your credit score.

☆ GM expands high-end Chevy Silverado HD lineup with new ZR2 off-road model
▼ + stars: | 2023-04-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The latest model revealed Thursday is the Chevrolet Silverado HD 2500 ZR2, a new off-road model for one of GM's most expensive pickup trucks. 2024 Chevrolet Silverado HD ZR2 Bison GM"ZR2 has been a huge success for us," said Michael MacPhee, director of Chevy truck marketing. 2024 Chevrolet Silverado HD ZR2 GMThe company declined to disclose exact pricing for the new ZR2 pickups, saying they will be "aspirational but attainable." The current Chevrolet Silverado 1500 ZR2 starts at about $74,000 for a comparable model. The HD ZR2 trucks will be offered exclusively in the 2500 four-door crew cab configuration.

☆ Cars are selling below sticker price for the first time in years — and it's a sign car buying is finally getting better
▼ + stars: | 2023-04-13 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

March was the first time in months car buyers didn't shell out more than a vehicle was listed for. For comparison, just a year earlier, consumers were paying on average nearly $1,000 more than the sticker price for a new car. Exceptions include Honda and Kia vehicles, which continue to sell for between 3 and 6% over sticker price in the non-luxury market. In addition to the newfound difference in sticker price versus the price actually paid, new car prices have been trending downward overall for months now. March's average price paid is down from February's $48,558, January's $49,388, and December's $49,507.

☆ New vehicle prices fall below sticker price after nearly two years - Kelley Blue Book
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book. Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars. The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. However, March prices rose 3.8% compared to a year earlier. Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve.

☆ US government’s proposal to boost EV sales is challenging but not impossible
▼ + stars: | 2023-04-12 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

By 2032, electric vehicles would need to make up about two-thirds of all the new cars sold in America. And even as EV market share rises to two-thirds, it’s not like EVs will flood America’s roads overnight, he said. Reaching two-thirds EV market share mark by 2032 isn’t a sure thing, said Cantor, but it should be manageable. The increasing number of automakers entering the EV market will also help, said Ivan Drury, an industry analyst with Edmunds.com. General Motors also has a number of EV models coming in the next year or two.

☆ New vehicle prices fall below sticker price after nearly two years, Kelley Blue Book data shows
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book. Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars. The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve. Reporting by Pratyush Thakur in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ General Motors will lead a $50 million funding round for lithium extraction startup EnergyX
▼ + stars: | 2023-04-11 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

EnergyX demonstrated its technology with a pilot plant in South America's "Lithium Triangle," an area of salt flats covering parts of Argentina, Bolivia and Chile that contains over half of the world's known lithium reserves. General Motors said Tuesday its venture capital arm will lead a $50 million financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. The process is relatively cheap, but it only recovers 30% to 40% of the total lithium – while using huge amounts of water and land. EnergyX plans to use the new funding to build five larger demonstration plants in North and South America. For GM, a key priority is to unlock a North American supply of lithium, which isn't cost-competitive with global supplies using current extraction methods.

☆ Some cars, including the Toyota Corolla and Ford Bronco, are worth up to $8,000 more used than if they were new
▼ + stars: | 2023-04-11 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

But there are 14 used cars that cost more than their new versions, per a new iSeeCars analysis. A lightly used Toyota Sienna or Kia Carnival could cost thousands more than they do new. ToyotaToyota Corolla HybridUsed price: $27,809Difference used over new: $2,038Toyota SiennaUsed price: $50,978Difference used over new: $1,806The 2022 Toyota RAV4 Prime XSE. Tim Levin/InsiderToyota RAV4 PrimeUsed price: $51,298Difference used over new: $1,726Toyota Corolla CrossUsed price: $30,636Difference used over new: $853The Kia Carnival. HondaHonda Accord HybridUsed price: $34,704Difference used over new: $152Chevrolet CorvetteUsed price: $84,827Difference used over new: $324Kia RioUsed price: $20,135Difference used over new: $27Honda AccordUsed price: $30,404Difference used over new: $16

☆ These are the best cars for families of every size
▼ + stars: | 2023-04-08 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

US News & World Report released its ranking of the best cars for families in 2023. US News & World Report on Tuesday issued its annual ranking of the best new cars for families. Best 2-Row SUV: Hyundai Santa FeThe Hyundai Santa Fe. HyundaiBest Hybrid Car: Toyota Camry HybridThe Toyota Camry Hybrid. Tim Levin/InsiderBest Hybrid SUV: Toyota Highlander HybridThe 2023 Toyota Highlander.

☆ Car dealers reveal the 9 questions you should always ask before buying
▼ + stars: | 2023-04-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

☆ See EVERY generation of the iconic Chevy Camaro as it wraps up final production run
▼ + stars: | 2023-04-08 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +1 min

Chevrolet announced a final production run of the sixth generation of the iconic Camaro muscle car. The final models, including "Collector's Edition" models, will be produced in Michigan in January 2024. Here's a look back at the nearly 60-year history of the famous American muscle car. "As we prepare to say goodbye to the current generation Camaro, it is difficult to overstate our gratitude to every Camaro customer, Camaro assembly line employee and race fan," Scott Bell, vice president, Global Chevrolet said in a statement. The final sixth generation Camaros will be produced in January 2024.

NEW YORK, April 5 (Reuters) - Ford Motor Co (F.N) and Chrysler-parent Stellantis (STLAM.MI) said on Wednesday that most of its electric and plug-in electric hybrid models will see tax credits halved to $3,750 on April 18 after new U.S. Treasury rules take effect. The other models currently getting credits - Ford Mustang Mach-E, Ford E-Transit, Ford Escape Plug-In Hybrid and Lincoln Corsair Grand Touring - will see credits drop to $3,750. Stellantis said of its three plug-in hybrid electric models, its Chrysler Pacifica plug-in electric hybrid will qualify for $7,500 tax credits after April 18, while the Jeep Grand Cherokee 4xe and Jeep Wrangler 4xe qualify for just $3,750. All U.S. EV consumer tax credits require vehicles to be assembled in North America and have income and retail price caps. Electric vehicles leased by consumers can qualify for up to $7,500 in commercial clean vehicle tax credits without any of the same restrictions.

☆ Stellantis unveils Ram EV pickup, to debut late in 2024, at New York auto show
▼ + stars: | 2023-04-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The EV truck will go on sale in one of the most important segments of the North American electric vehicle market. Stellantis CEO Carlos Tavares said the truck will be built in the U.S. and the location would be announced soon. He told reporters on the sidelines of the auto show that consumers will choose the Ram over other EV trucks because it will exceed other trucks' performance on range, speed of charge, towing and other factors. The Ram truck's launch late in 2024 will come more than two years after similar EV trucks like the Rivian (RIVN.O) R1T electric pickup and Ford's (F.N) F-150 Lightning electric truck. The RAM EV truck will be built on a new body-on-frame architecture designed for full-size EVs, capable of towing up to 14,000 lbs and carry a payload of up to 2,700 lbs.

The other models currently getting credits - Ford Mustang Mach-E, Ford E-Transit, Ford Escape Plug-In Hybrid and Lincoln Corsair Grand Touring - will see credits drop to $3,750. Sales of Ford's electric vehicles jumped 41% in the first quarter, data on Tuesday showed. GM currently receives that amount for the Chevrolet Bolt and the forthcoming Chevrolet Silverado EV would have been eligible. All U.S. EV consumer tax credits require vehicles to be assembled in North America and have income and retail price caps. Electric vehicles leased by consumers can qualify for up to $7,500 in commercial clean vehicle tax credits without any of the same restrictions.

☆ Watch the Tesla Cybertruck run suspension tests at the Fremont factory
▼ + stars: | 2023-04-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Elon Musk has slowly dripped out details about the electric pickup truck since the reveal in 2019. In the years since the Cybertruck reveal, Elon Musk has slowly dripped out details on the truck. Once the Cybertruck does go on sale, it will be entering an increasingly crowded electric pickup truck market. GM is also planning to release an all-electric version of its popular Chevrolet Silverado truck this fall, while Ram's upcoming electric pickup truck is featured at the New York Auto Show this week. Watch the latest Cybertruck video here:Are you a Cybertruck order-holder?

☆ Ram electric pickup truck can go 500 miles on a charge, says Stellantis
▼ + stars: | 2023-04-05 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

GM expects to get 400 miles of range from its electric trucks. That’s one reason why having a lot of range can be an especially good thing in an electric truck. The pickup truck battle of numbers isn’t just limited to power and pulling, however. Even the Ram TRX, a pickup designed for high-speed desert driving, has a 702-horsepower V8 engine, only slightly more power than the Ram REV. Essentially a plug-in hybrid, that truck will be for customers who aren’t ready to trust a fully electric truck.

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