Cars

Nikola CEO Mark Russell to retire at the end of the year

Mark Russell, chief executive officer of Nikola Corp., left, during a media briefing at the unveiling of the Iveco-Nikola electric truck plant in Ulm, Germany, on Wednesday, Sept. 15, 2021. Andreas Grebert | Bloomberg | Getty Images Nikola CEO Mark Russell will retire at the end of the year, the company announced Wednesday. Russell will …

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Auto makers warn most electric vehicles won’t qualify for federal tax credit

But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent. And those …

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Elon Musk sells 7.92 million Tesla shares worth $6.88 billion

NEW YORK, NEW YORK – MAY 02: Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” at The Metropolitan Museum of Art on May 02, 2022 in New York City. (Photo by Dimitrios Kambouris/Getty Images for The Met Museum/Vogue) Dimitrios Kambouris | Getty Images Entertainment | Getty Images Tesla CEO …

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Ford hikes price of the all-electric F-150 Lightning due to shortages, inflation

Ford Motor Co. this week will reopen its order banks exclusive to reservation holders for the all-electric F-150 Lightning pickup truck. With this round comes a slightly longer battery range and a higher sticker price for model year 2023. Citing “significant material cost increases and other factors,” the automaker said in a release it would …

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Carvana rivals’ stocks plunge after earnings

While Carvana Inc. shares soared despite weaker-than-expected financial results last week, two of the online car-seller’s smaller rivals were not as fortunate Monday. CarGurus Inc. CARG, +0.12% and Vroom Inc. VRM, +6.03% both saw their shares dive in extended trading after issuing quarterly results. CarGurus shares declined 16% in after-hours trading, while Vroom shares fell …

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Earth broke the record for the shortest day since atomic clocks were invented

Earth completed its normal 24-hour rotation 1.59 milliseconds fast on June 29, breaking the record for the shortest day in modern history. (NASA) Estimated reading time: 4-5 minutes ATLANTA — If you feel like there’s less time in the day, you’re correct. Scientists recorded the shortest day on Earth since the invention of the atomic …

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Wage inflation, used car prices could jump higher: Jim Bianco

Washington’s efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco. And, he believes this week’s key inflation data will help prove it. “I don’t see anything that will reduce the inflation rate. There are some things that might reduce prescription drug prices and maybe a couple of other …

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Discovery in paleontologist’s backyard reveals evidence of North America’s early humans

Butchering marks can be seen on the mammoth ribs. The top rib shows a fracture from blunt force impact, the middle rib shows a puncture wound and the bottom rib shows chopping marks. (Timothy Rowe et al., The University of Texas at Austin) Estimated reading time: 4-5 minutes AUSTIN, Texas — The surprising discovery of …

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The mysterious companies behind Costco’s Kirkland Signature and Trader Joe’s O’s

Costco generates nearly one-third of its sales from its Kirkland Signature label. As prices surge, large brands — also known as private labels, white labels or generic brands — have become an even more attractive option for inflation-fatigued shoppers who are looking to switch from pricier name brands. (David Paul Morris, Bloomberg/Getty Images) Estimated reading …

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