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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.

☆ Lebanese depositors smash up, burn Beirut banks
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mohamed AzakirBEIRUT, Feb 16 (Reuters) - Several dozen Lebanese protesters attacked banks in a Beirut neighbourhood on Thursday, while blocking roads protesting against informal restrictions on cash withdrawals in place for years and rapidly deteriorating economic conditions. At least six banks had been targeted as the Lebanese pound hit a new record low on Thursday, a spokesperson for Depositors Outcry, a lobby representing depositors with money stuck in the country's banking sector, said. Since 2019, Lebanese banks have imposed restrictions on withdrawals in U.S. dollars and Lebanese pounds that were never formalised by law, leading depositors to seek access to their funds through lawsuits and often by force. The Lebanese pound has lost more than 98% of its value since the country's financial sector imploded in 2019. It was changing hands at around 80,000 pounds per greenback on Thursday, dropping from 70,000 pounds just two days earlier.

☆ 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 owners reveal the best and worst features of their cars, and what they really think of Elon Musk
▼ + stars: | 2023-02-11 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

Insider spoke with more than a dozen Tesla owners to learn what they like most and least about their cars. We talked to more than a dozen Tesla owners to find out what they like most about their cars — and what they think needs improvement. Since electric cars don't experience the same acceleration lag as gas vehicles, Teslas jolt forward the instant you put your foot down. Con: Stiff rideSome Model 3 and Y owners told Insider their cars are too stiff and jittery over bumpy pavement. Tim Levin/InsiderOver and over, Tesla owners praised the company's extensive network of fast chargers, which is exclusive to Tesla owners in the US.

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

☆ S. Korea fines German automakers for colluding to curb emissions-cleaning technology
▼ + stars: | 2023-02-09 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/FilesSEOUL, Feb 9 (Reuters) - South Korea's anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won ($33.48 million) on three German automakers for colluding to curb emissions-cleaning technology for their diesel cars. Mercedes-Benz was fined 20.7 billion won, BMW 15.7 billion won and Audi 6 billion won, the regulator said, adding that Volkswagen was not fined because it did not earn revenue relevant to the issue. BMW, Volkswagen and Audi were not immediately available for comment outside business hours. Last year, Mercedes-Benz and its Korean unit were fined 20.2 billion won for false advertising tied to gas emissions of diesel passenger vehicles. The European Commission in 2021 fined Volkswagen and BMW a total of 875 million euros for colluding to curb the use of emissions-cleaning technology they had developed.

☆ High-tech dashboards, driving assistants vex luxury vehicle owners -study
▼ + stars: | 2023-02-09 | by ( Joseph White | ) www.reuters.com time to read: +2 min

The gap in reliability scores between luxury brands and those for mass market brands such as Kia were the widest in the 34 years that J.D. Power sets Tesla aside from other brands in the rankings because the electric vehicle maker doesn't provide it with full access to information about owners. Other luxury brands fared poorly, too. Infotainment systems complaints, such as problems with wireless Bluetooth phone connections, dragged down scores from vehicle owners of several luxury brands, according to the report. Even as luxury brands compete to offer more advanced digital content and dashboard features, luxury vehicle owners are finding fault with the infotainment systems at about double the rate as owners of mass-market brands, Hanley said.

☆ South Korea fines German automakers for rigging diesel car emissions
▼ + stars: | 2023-02-09 | by ( Hyunsu Yim | ) www.reuters.com time to read: +1 min

[1/4] A Mercedes-Benz badge on one of the German company's cars at the 43rd Bangkok International Motor Show, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha/File PhotoSEOUL, Feb 9 (Reuters) - South Korea's anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won ($33.48 million) on three German automakers for colluding to rig emissions of its diesel cars using software. Mercedes-Benz was fined 20.7 billion won, BMW 15.7 billion won and Audi 6 billion won, the regulator said, adding that Volkswagen was not fined because it did not earn revenue relevant to the issue. Mercedes, BMW, Volkswagen and Audi were not immediately available for comment. Last year, Mercedes-Benz and its Korean unit were fined 20.2 billion won for false advertising tied to gas emissions of diesel passenger vehicles.

☆ From a road-trip disaster to a face-melting rip in the world's quickest supercar, these are my biggest lessons from driving 20 electric cars
▼ + stars: | 2023-02-08 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

I've tested 20 electric cars, SUVs, and pickup trucks from Tesla, Ford, Porsche, Polestar, and more. But electric cars are quick, convenient, fun to drive, and quiet. Hours behind the wheel taught me some important lessons about range, charging, and our electric future. Charging can be more convenient than getting gasRecharging an electric car takes a whole lot longer than filling up on gas. The best ones offer spacious interiors and clever storageToday's electric cars typically use what's known as a skateboard platform, which is basically what it sounds like.

☆ Huawei turns to patents for a lifeline — including those in the U.S.
▼ + stars: | 2023-02-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2022, Huawei announced it signed more than 20 new or extended licensing agreements for its patents. But the sheer number of patents filed meant Huawei ranked fourth last year by the number of patent grants in the U.S., IFI said. For Huawei, licensing its patents to other companies has the potential to claw back a bit of that revenue. Huawei did not break down specific figures, and only said it met its intellectual property revenue expectations for 2021. "I don't think they had a choice in terms of sort of boosting their licensing revenue."

☆ CEO of Hilton says a Porsche was the dumbest thing he ever bought: 'I spent all my money on that stupid car'
▼ + stars: | 2023-02-05 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Hilton CEO Chris Nassetta says selling his black Porsche 944 was the best financial decision he ever made. "I spent all my money on that stupid car." Since 2007, Nassetta has driven something more practical: a four-door Lexus sedan he bought just after landing the top role at Hilton. In 2020, the mechanic called Nassetta to say he'd found someone nearby with the vehicle — but it was barely running. Together, Nassetta and the mechanic spent two years repairing the car, completing the project last May.

☆ Mexico in talks with top carmakers to make electric vehicles, foreign minister says
▼ + stars: | 2023-02-03 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +3 min

MEXICO CITY, Feb 3 (Reuters) - Mexico is gearing up to build several manufacturing hubs for electric vehicles across the country, Foreign Minister Marcelo Ebrard told Reuters, and is in talks with some of the world's top carmakers. Ebrard said in an interview late on Thursday that Mexico was keen to capitalize on the global shift to electric vehicles. "What they are more concerned about is having a guaranteed supply of clean energy, having water, having the personnel they need, facilitate electric power transmission lines," he said. Harald Gottsche, head of the BMW plant in the state of San Luis Potosi, which will produce fully electric cars, said Mexico also needs to push the consumer shift to electric vehicles. In addition to electric vehicles, Ebrard said he was also keen to attract more semiconductor and battery businesses - and build out transport infrastructure in the port of Coatzacoalcos, in the Gulf of Mexico.

☆ Formula 1: Audi buys minority stake in Sauber ahead of 2026 F1 entry
▼ + stars: | 2023-01-31 | by ( Amar Mehta | ) www.cnbc.com time to read: +3 min

A show model Audi Formula 1 car on Aug. 26 2022 in Belgium after announcing its participation in the F1 Grand Prix of Belgium. Audi's entry into Formula 1 has moved a step closer after the German car manufacturer acquired a minority stake in Sauber. The purchase comes three months after Sauber confirmed they would become Audi's strategic partner when the German marque enters Formula 1 in 2026. On Jan. 14, Andreas Seidl replaced Vasseur as Sauber's chief executive after the latter joined Ferrari , and will oversee Audi's entry into F1. In a statement sent to Sky Sports, an Audi spokesperson said this is a "key milestone" for the German's F1 entry in 2026.

☆ I was obsessed with my Tesla but Elon Musk convinced me I'd rather drive an electric Mercedes-Benz
▼ + stars: | 2023-01-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Christine Orita was a loyal Tesla fan for years but recently ditched her Model S for an electric Mercedes-Benz. A 2013 Tesla Model S. AP Photo/Paul Sakuma, FileI took delivery of my car in early 2013. The Mercedes EQS is a superior productI looked at Audi and BMW's electric cars, and their range was just not where I needed it to be. The Mercedes-Benz EQS 450+. I feel so much better to be rid of the Model S.

☆ Audi's new EV is a luxury SUV with augmented reality that doubles as a pickup
▼ + stars: | 2023-01-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The rear glass of the "Activesphere" vehicle can slide forward, opening the flatbed trunk of the SUV and creating an open-air space for hauling objects. Audi's calling the modular open cargo bed an "active back," but consumers shouldn't necessarily expect to see a production vehicle with the unique feature anytime soon. The augmented reality glasses are used to view the gauges, controls and other elements that would typically be displayed via screens. Augmented reality glasses layer things over actual things as opposed to virtual reality, which is an all-encompassing separate environment. Audi emphasized that it has no plans to make its own augmented reality glasses.

☆ Consumer Reports calls Ford’s automated driving tech much better than Tesla’s
▼ + stars: | 2023-01-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

And in a recent ranking by Consumer Reports, which tested ADAS from 12 different carmakers, Tesla’s ranked seventh. GM’s Super Cruise, which ranked second, is the only other system tested by Consumer Reports that works this way. Ford’s driver monitoring technology is one of the major reasons that BlueCruise ranked so highly in Consumer Reports’ testing. Kia and Genesis did not immediately respond to requests from CNN Business for comments on Consumer Reports’ assessments. For the most part, vehicle owner’s manuals were of little use in learning how to use the systems, Consumer Reports said.

☆ I've tested 15 electric cars — these 6 blew me away with game-changing features
▼ + stars: | 2023-01-24 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Tesla's Model Y is incredibly easy to charge, while Pininfarina's Battista packs mind-bending acceleration. The Tesla Model Y's Supercharging abilityThe Tesla Model Y. Tim Levin/InsiderTeslas are known for a lot of things — their minimalist interiors, their sporty performance, and, for better or worse, their boisterous mastermind, Elon Musk. But the one part of testing a Tesla Model Y that stuck with me more than any of that was Supercharging. The Tesla Model Y. Tim Levin/InsiderOnce you have a payment method set, Supercharging is as simple as pulling up to an available stall and plugging in. The Polestar 2's screensThe 2022 Polestar 2.

☆ Elon Musk says Twitter will roll out ad-free subscriptions for a higher fee in coming weeks
▼ + stars: | 2023-01-21 | by ( ) www.businessinsider.com time to read: +2 min

Elon Musk said a paid ad-free model for Twitter users will soon be available. The subscription would join the platform's other paid model, Twitter Blue. The billionaire Twitter owner wrote in a tweet Saturday that the company will launch a "higher priced subscription that allows zero ads" in the coming weeks. The paid subscription would join Twitter Blue, a model in which users pay a fee to receive a verified blue checkmark, as well as access to features like an edit button. Twitter Blue currently costs $11 a month for mobile iOS and Android access, and $8 for desktop users.

☆ Tesla pushes back Model 3 delivery times in Germany after price cuts
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 20 (Reuters) - Tesla (TSLA.O) pushed back the delivery window for Model 3 vehicles on its website in Germany to February to April 2023 from January to March previously, a week after it slashed prices by between 4% and 12% depending on the variation of the model. Delivery times on the Model Y rear wheel drive, which saw the biggest price cut at 17%, had already been pushed to February to March from January to March. Expected delivery of the Model Y Long Range and Performance vehicles remained unchanged on Friday at January to March, the website showed. Tesla delivery times are still far ahead of other competitors in Germany, according to car comparison portal carwow. The company cut prices globally on the Model 3 and the Model Y last week, reversing course from the profit-over-volume strategy deployed across the industry since the pandemic of raising prices to overcome supply chain shortages.

☆ Deutsche Bank predicts this autonomous driving play is headed for a 'considerable revenue and earnings acceleration'
▼ + stars: | 2023-01-18 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Mobileye has the potential to further elevate its reputation in the autonomous and assisted-driving world, according to Deutsche Bank. Further, customer reception is gaining momentum, he said, as six carmakers have already signed up for one of its hands-off driving products called SuperVision. MBLY 1D mountain Mobileye stock Rosner expects Mobileye's revenue to hit nearly $6 billion by 2026 and exceed $18 billion by 2030 — up from the $1.8 billion revenue seen in 2022. Per-share earnings should grow similarly from 72 cents in 2022 to $2.40 by 2026 and nearly $8 in 2030. He also said there's also the potential for the company to secure relationships with large automakers such as Ford , Porsche and Audi.

☆ Car makers like Ford and GM are increasing loan payments, while some rivals are keeping costs down
▼ + stars: | 2023-01-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Between March 2020 and December 2022, average monthly loan payments jumped about 29%, according to Dealertrack data Chesbrough shared. "Not everybody has risen their monthly payments in quite the amount." Alfa Romeo, Mini, Subaru, Jaguar, Audi, Kia, Mercedes-Benz, Infiniti, Toyota, and Genesis, made up the 10 brands with the lowest increases in their average monthly loan payments over the same period. Toyota was one of the 10 brands with the lowest increase in their average monthly loan payments since the pandemic began. "We think that there's really not going to be enough demand there at these high prices," Chesbrough said.

☆ 2023 Genesis GV70 2.5T: Fully Loaded, Affordably Priced
▼ + stars: | 2023-01-13 | by ( Dan Neil | ) www.wsj.com time to read: +1 min

MORE IS LESS Starting at $43,150, the 2023 Genesis GV70 2.5T is equipped with a 300-hp engine, all-wheel drive and a long list of no-cost premium features, including heated front seats, navigation system and power hands-free liftgate. The GV70 2.5T Advanced, seen here, had an as-tested price of $52,925. This thundering herd of tiny hooves accounted for about a half-million sales in 2022, depending on what you count as a compact (vs. midsize), premium (vs. luxury) and crossover (vs. SUV). Alas, the grim truth about 4-H is that, no matter how primped and polished the contestants, when they enter the show ring, they become livestock—commoditized, consumable. Discerning judges look past the braided tails and cow mascara.

☆ VW Posts Lowest Sales in Over a Decade on Supply-Chain Issues
▼ + stars: | 2023-01-12 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Volkswagen AG reported its lowest sales in more than a decade, but said it was confident business would improve this year as supply-chain blockages ease and semiconductors become more easily available. VW, which also includes passenger-car brands Skoda and Seat, luxury-car maker Audi, and sports-car maker Porsche AG, said Thursday that global sales dropped 7% to 8.3 million vehicles, as supply-chain constraints shut down some factories in Europe in the wake of Russia’s invasion of Ukraine and Covid-19 measures in China.

☆ Volkswagen Group deliveries lowest in over a decade
▼ + stars: | 2023-01-12 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Buzz, a fresh take on the iconic vehicle of the Volkswagen brand, during its world premiere in Paris, France, March 9, 2022. Group sales rose 14.3% in the fourth quarter, but the outlook for 2023 remains clouded by weak economies and supply chain shortages, extended executive sales committee member Hildegard Wortmann said. Audi, Lamborghini and Bentley weathered 2022 better than Volkswagen Passenger Cars and Skoda, with deliveries down around 4% at the premium brands and down 9% for mass-market vehicles. Group deliveries fell 7% versus 2021. The Volkswagen Group's deliveries were up 12% in the second half of the year, but the full-year figure was dragged down by a drop of over a fifth in the first half.

☆ Audi Mexico and union avert strike in deal for 9.4% pay rise
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowMEXICO CITY, Jan 11 (Reuters) - Carmaker Audi's Mexico unit and worker representatives have agreed to 9.4% salary raises for 2023, forestalling a strike in reaching a deal for one of the highest automaker wage hikes in Mexico in recent years. The Independent Union of Audi Mexico Workers (SITAUDI) and Audi previously negotiated two options to raise wages for the plant's 4,000 unionized employees in the central state of Puebla, but workers in December rejected both. The 9.4% increase tops a recent deal at Volkswagen in Mexico for 9% wage raises this year, which also followed worker rejections of earlier proposals. The revamped deal "gives certainty and stability to the workers and their families," SITAUDI said in a statement. Audi said Tuesday evening that it had managed to avert a strike slated for Wednesday, and that the company prioritized the financial stability of workers.

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