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☆ These are the best car brands of 2023
▼ + stars: | 2023-02-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Consumer Reports released a list of top car brands Thursday. Consumer Reports released its list of the top car brands for 2023 on Thursday. Taking the bottom five spots are Mitsubishi, Alfa Romeo, Jaguar, Jeep, and Land Rover, with Land Rover at the very bottom. Consumer Reports ranked brands first by determining a road-test score using braking, handling, comfort, convenience, and fuel economy evaluations. The other domestic brands fell in the bottom-third of the rankings.

☆ Traditional automakers have one huge leg up on EV startups: A nationwide network of shops ready to service cars
▼ + stars: | 2023-02-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

But today's EV startups don't operate that way. When in need of service, car buyers typically utilize the massive dealership network automakers like Ford, GM, Toyota and others have, or choose to take their vehicle elsewhere. Unlike Tesla, today's EV startups can't afford to tick their owners off with waits or make prospective buyers worry about repairs and service. The right-to-repair movement is also going to be significant for EV startups moving forward. "It comes down to how confident a given consumer feels when going with an electric vehicle from a new EV brand versus a traditional car from a traditional car company," Brauer said.

☆ 32-year-old's lucrative side hustle: Earning up to $14,000 a month renting his sports cars to strangers
▼ + stars: | 2023-02-15 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Andrei Echeverria brings in up to $14,000 per month letting strangers drive his six cars on rental platform Turo. Echeverria, 32, brings in up to $14,000 per month renting his six vehicles out to strangers in Boston on the rental platform Turo, according to documents reviewed by CNBC Make It. Echeverria lives mere miles from Boston Logan International Airport, and capitalizes by undercutting the prices of nearby car rental companies. With three cars on Turo, Echeverria says he brought in about $3,500 per month. Even with the additional cars, Echeverria found himself overbooked.

☆ Tesla stock is having a dominant start to 2023 and retail investors are loving it
▼ + stars: | 2023-02-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Not that Elon Musk really needs more attention, but his company's stock warrants a look for a very successful six-week stretch. Last year, Tesla drew headlines for its roughly 65% stock decline. Bank of America strategists have forecasted that the move can ultimately boost sales volume, and Wedbush gave Tesla stock a 35% upside. And according to Vanda Research, retail investors' bullishness for Tesla is driving a FOMO Tesla trade that has pushed inflows from the cohort into the stock market at levels not seen since 2020. Alibaba stock price on Feb.10, 2023 Markets Insider10.

☆ Honda reports 22% rise in Q3 operating profit, beating estimates
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

Companies Honda Motor Co Ltd FollowTOKYO, Feb 10 (Reuters) - Japan's Honda Motor Co (7267.T) on Friday posted a better-than-expected 22% rise in third-quarter operating profit, as a weak RBRyen helped offset rising raw material costs and lower vehicle production and sales amid chip supply shortages. Operating profit for the three months to Dec. 31 stood at 280.4 billion yen ($2.13 billion). That compared to an average estimate of 239.4 billion yen in a poll by 11 analysts by Refinitiv and a 229.4 billion yen operating profit the same period a year earlier. The automaker stuck to its annual operating profit forecast of 870 billion yen for the year through March, compared with an 871.28 billion yen average forecast by 21 analysts. ($1 = 131.5500 yen)Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla's Model Y and Model 3 top-selling vehicles in California in 2022
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Tesla Inc's (TSLA.O) Model Y and Model 3 electric vehicles were the top-sellers in California last year, outselling Toyota Motor Corp's (7203.T) RAV4 and Camry models, according to an industry body report. It is the first time a Tesla model topped the annual sales list in California, a major vehicle market where one in five cars is electric. Austin, Texas-based Tesla sold 87,257 Model Y electric sport utility vehicles and 78,934 Model 3 electric sedans last year, while Toyota sold 59,794 units of its RAV4 SUV and 55,967 of its Camry sedans, the California New Car Dealers Association said in its report. In 2021, the Camry was the top-seller in California, followed by the Model Y, Honda's (7267.T) Civic and RAV4, and the Model 3. Last year, zero-emission vehicles accounted for 19% of all cars sold in California, which brought in 40% of all sales of electric vehicles, including hybrid vehicles, in the United States.

☆ EV batteries getting second life on California power grid
▼ + stars: | 2023-02-07 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

[1/2] A view of the SEPV Sierra solar and storage facility owned by startup, B2U Storage Solutions, in Lancaster, California, U.S. in this handout photo taken in 2022. B2U Storage Solutions/Handout via REUTERSFeb 7 (Reuters) - Hundreds of used electric vehicle battery packs are enjoying a second life at a California facility connected to the state's power grid, according to a company pioneering technology it says will dramatically lower the cost of storing carbon-free energy. B2U Storage Solutions Inc, a Los Angeles-based startup, said it has 25 megawatt-hours of storage capacity made up of 1,300 former EV batteries tied to a solar energy facility in Lancaster, California. B2U's technology allows the EV battery packs to be bundled together without having to be taken apart first. "Second life and re-use helps the overall lifecycle be more energy efficient, given all the efforts that go into making that battery," Hall said in an interview.

That announcement came after nearly four months of intense talks complicated by concerns about the sharing of intellectual property as Renault sought tie-ups with companies outside their alliance. The deal will see the French carmaker reduce its stake in Nissan to 15% from around 43%. That will see Renault put around 28% of the Japanese automaker in a French trust, crucially making the two more equal partners. While Renault bailed out Nissan two decades ago, it is the smaller automaker by sales. "One almost wonders what's the point of them having any stake in either one, any stake at all," Richter said.

☆ Did investors learn nothing from last year’s market meltdown?
▼ + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.

☆ A flurry of earnings reports, Fed rate hike, signs of a bull market
▼ + stars: | 2023-02-04 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Japan startup selling $550,000 Star Wars-inspired hoverbike to list on NASDAQ
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] A.L.I technology's Xturismo air-mobility hover bike is displayed at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar SuFeb 3 (Reuters) - Japanese startup Aerwins Technologies, which is selling a Star Wars-inspired $555,000 hoverbike, has received approval to list on the NASDAQ in a merger with blank-check firm Pono Capital Corp (PONO.O), the manufacturer said on Friday. Aerwins, which is taking orders for the XTurismo hoverbike with a motorcycle-like body on top of propellers that it unveiled last year, estimates it will be valued at $600 million in the transaction. Started as ALI Technologies in Tokyo, the company said in a statement to Reuters that NASDAQ had approved its listing on Thursday, with trading to begin on Monday. Aikawa's company, SBC Medical Group, which operates cosmetic medical centres in Japan, is going public through a merger with another Pono-related blank check company, Pono Capital Two (PTWO.O).

☆ Earnings and Fed Chair Powell will again drive markets in the week ahead
▼ + stars: | 2023-02-03 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

With few economic releases and the earnings season starting to wind down, an appearance by Federal Reserve Chairman Jerome Powell Tuesday could be among the newsiest events for markets in the week ahead. The Fed chair is speaking at the Economic Club of Washington D.C. at midday Tuesday. If he wanted to walk back anything, he could have done it then," said Art Hogan, chief market strategist at B. Riley. Economists said Friday's surprisingly strong jobs report should encourage the Fed to push forward with planned rate hikes. Earnings, earnings, earnings But there continues to be earnings news.

☆ Car buyers frustrated with inventory shortages should head to a Ford or GM dealer
▼ + stars: | 2023-02-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

In January, dealers were sitting on 37 days' supply, with about 21 days for cars and 41 days for trucks, according to a Deutsche Bank note Thursday. The domestic automakers had higher days' supply than others, with Ford at 60 days, GM at 52 days, and Stellantis (the merger of Fiat Chrysler and the French PSA Group) at 68 days, per Deutsche Bank. Even with inventory improvements, car-buyers need to look out for high interest rates and loan payments. Kekyalyaynen / Shutterstock.comBeware high interest rates and loan paymentsJust because there are available vehicles, that doesn't mean demand for cars is waning. Some automakers' loan payments are much higher than others, pricing buyers out of the market.

☆ Honda issues 'Do Not Drive' warning for 8,200 U.S. vehicles over air bag risks
▼ + stars: | 2023-02-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Kim Kyung-HoonWASHINGTON, Feb 3 (Reuters) - Honda Motor Co (7267.T) on Friday issued a "Do Not Drive" warning for 8,200 model year Acura and Honda vehicles with unrepaired Takata air bag inflators in the United States. The urgent warning covers various 2001-2003 model year Honda Accord, Civic CR-V and Odyssey, Pilot and Acura 3.2CL and 3.2 TL vehicles with so-called "Alpha" inflators. More than 30 deaths worldwide - including at least 23 U.S. fatalities - and hundreds of injuries in various automakers' vehicles since 2009 are linked to Takata air bag inflators that can explode, unleashing potentially deadly metal shrapnel inside vehicles. NHTSA said last month a February death of the driver of a 2002 Accord in Bowling Green, Kentucky, was due to a faulty air bag inflator. In November, Chrysler parent Stellantis (STLA.MI) urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported.

☆ Honda to start producing new hydrogen fuel cell system co-developed with GM
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Feb 2 (Reuters) - Japan's Honda Motor Co (7267.T) said it will start producing a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) this year and gradually step up sales this decade, in a bid to expand its hydrogen business. The Japanese carmaker is seeking to expand the use of its new system not only for its own fuel cell electric vehicles (FCEVs), but also commercial vehicles such as heavy trucks, as stationary power stations and in construction machinery. Honda will start production of the hydrogen fuel cell system through its joint venture with GM this year, Honda senior managing executive director Shinji Aoyama told reporters during a company event in Tokyo. With the "next-generation" system, the company aims to more than double durability compared with its older fuel cell system and to bring costs down by two-thirds. That would likely lead to a divergence in trucks using batteries and those running on fuel cells, he added.

An infant who was recently returned to his mother from an alleged kidnapping died Saturday after being rushed to the hospital. Ky’air Thomas and his twin brother, Kason, were found alive last month after a woman allegedly stole a car with them still inside. The Honda Accord was later found, with Kason inside, abandoned near a Papa John’s restaurant in Indianapolis. After Jackson was arrested, the two women said they went out to eat and spotted the Honda with Kason inside. She was also charged with two counts of kidnapping a minor in the Southern District of Ohio after an indictment earlier this month.

☆ One of the Ohio twin infants — whose abduction last month sparked a public outpouring of support — has died, police said
▼ + stars: | 2023-01-29 | by ( Taylor Ardrey | ) www.businessinsider.com time to read: +3 min

Ky'Air Thomas, one of the twins who were abducted last month, has died, police said. Police said his twin, Kason, was found days later inside the vehicle near a Papa John's in Indianapolis, Insider previously reported. Two women, Mecka Curry and Shyann Delmar were instrumental in helping law enforcement track down the baby and suspect, Nalah Jackson. I'm like in a state of shock for real, I'm devastated, I'm hurt for Momo. I'm hurt for Chaz the father, I'm hurt for Kason his twin brother because he is a twin, but I'm mostly, mostly, mostly, mostly, worried about Wilhelmina," Booker told the news station. "

☆ Should you warm your car up in the winter before driving? I spoke with more than 30 mechanics and couldn't get a straight answer.
▼ + stars: | 2023-01-29 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +7 min

Car manufacturers don't have consistent advice on how long you should idle your car in the cold. Generally speaking, idling your car for about 30 seconds when it's cold can help it run smoothly. Others like Ford and Chevrolet recommended idling for no more than 30 seconds after starting. How much time is where mechanics diverge on the subject, but around 30 seconds is the general consensus for modern engines. What I can say is if you idle much longer than 30-60 seconds, you're just wasting gas and money.

☆ Carmakers face a crossroads as they work to fit auto dealers into their EV plans
▼ + stars: | 2023-01-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

"I think we're all building this airplane as we fly," Michael Alford, president of the National Auto Dealers Association, a trade association that represents more than 16,000 U.S. new franchised dealers, told CNBC. Automakers and franchised dealers have a complex relationship that is backed, in many states, by laws that make it difficult, if not illegal, to bypass franchised dealers and sell new vehicles directly to consumers. Both automakers and franchised dealers want to maximize profits, but they're separate businesses that heavily rely on one another to succeed. David Paul Morris | Bloomberg | Getty ImagesHonda Motor has said it plans to move more sales online, including 100% online sales for its luxury Acura brand for EVs. Jay Vijayan, who assisted in building out Tesla's digital and IT systems, doesn't believe selling EVs exclusively online will pan out.

The company offered a positive outlook in the North American market, where it sees a growing number of customers requesting made-in-USA batteries to be qualified for federal EV subsidies. The company had secured additional orders worth about 20 trillion won in the fourth quarter, Chief Financial Officer Lee Chang-sil added. LGES reported operating profit of 237 billion won ($193 million) for the October-December period, versus 76 billion won a year earlier. That compared with an average analyst forecast of 256 billion won compiled by Refinitiv SmartEstimate. Revenue for the quarter rose 92% to 8.5 trillion won, LG Energy said in a regulatory filing.

☆ UK car production is at its weakest since 1956. And the industry is losing the EV race
▼ + stars: | 2023-01-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —UK car manufacturing hit a 66-year low in 2022, as the closure of two plants, a global shortage of semiconductors and the effect of Covid lockdowns in China on auto supply chains crippled output. “The relationship between the UK and the EU, especially as you electrify, is still fundamental to the success of UK car manufacturing,” he said. UK factories made a record 234,066 electric vehicles in 2022, almost a third of all UK car production. Aston Martin and Jaguar Land Rover, owned by India’s Tata Motors (TTM), are also positive about the prospects for electric vehicle manufacturing in the United Kingdom. “Our continued investment in our UK facilities … will herald an exciting new era of electric car production in the UK,” the company said.

☆ Honda to create division to speed up electrification development
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 24 (Reuters) - Honda Motor Co (7267.T) said on Tuesday it would create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organisational structure. Japanese automakers have been at risk of falling behind their European and U.S. rivals in the EV market. In changes effective April 1, the new division would consolidate the Japanese automaker's electrification strategy and development of automobiles, motorcycles and power products such as generators, it said in a statement. Integrating to the three was to "rapidly develop the implementation of resource shifts in accordance with the future lineup strategy in line with the electrification acceleration," a spokesperson said in a briefing. Honda last year laid out a target to roll out 30 EV models globally and produce about 2 million EVs a year by 2030.

☆ Honda, GS Yuasa agree to collaborate in lithium-ion batteries
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 23 (Reuters) - Japanese automaker Honda Motor Co Ltd (7267.T) and battery maker GS Yuasa Corp (6674.T) on Monday said they will collaborate in the high-capacity, high-output lithium-ion battery business, and plan to establish a joint venture by the end of this year. The partners said they will join in the research and development of lithium-ion batteries and production methods, and will also establish a supply chain for key raw materials and a battery production system. Reporting by Mariko Katsumura; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Solar electric vehicle startup says its car will go 400 miles on a full battery and never needs to be charged
▼ + stars: | 2023-01-23 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

The California-based company unveiled in January its Launch Edition solar vehicle, its first model that will hit customer driveways. Aptera Launch Edition vehicle. Aptera Launch Edition vehicle. Aptera Launch Edition vehicle. Aptera Launch Edition vehicle.

☆ Are you buying 'too much car'? Americans' obsession with pricey options like touch screens is causing an affordability crisis
▼ + stars: | 2023-01-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch now'Every new car is a luxury purchase'Part of the problem is that more Americans want expensive SUVs and pickups with all the options, he added, which can cost as much as 40% more than the base price. Over the last decade, luxury shoppers have proved again and again their willingness to spend more on high-end cars and the financing to go along with them. Even the smallest upgrades have been met with soaring demand, Drury said, citing the extreme enthusiasm over the Honda Odyssey's built-in vacuum option when it was first introduced in 2014. Now everyone wants high-tech touch screens, ambient lighting, 360-degree cameras and heated and cooled seats, Drury said, which cost even more. With the lucrative luxury segment in high demand, carmakers are upgrading their lineups and scaling back on less expensive cars.

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