More EVs will qualify for tax credits after US reverses course
The Biden administration will allow more cross-over SUVs to qualify for the newly-revamped electric vehicle tax credit following lobbying by...
Ferrari raises earnings outlook on robust luxury-car demand
Ferrari NV raised its outlook on strong demand for high-margin models like its new €390,000 ($428,000) Purosangue crossover. The Italian...
Fed slows rate hikes, signals further increases are coming
The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials...
Options traders gorge on Carvana as rally evokes meme frenzy
Carvana Co. shares have doubled this year, and more head-scratching moves could be in store for the debt-strapped online used-car...
Ford cuts price of electric mustang Mach-E in response to Tesla
Ford Motor Co. is slashing the price of its electric Mustang Mach-E by an average of $4,500 following Tesla Inc.’s...
Toyota names new CEO as Tesla-led EV shift threatens its dominance
Toyota Motor Corp. will elevate the head of Lexus to replace long-time CEO Akio Toyoda, who steered his grandfather’s carmaker...
US GDP expands at healthy 2.9% pace while slowdown signs mount
The US economy expanded at a healthy pace in the fourth quarter, though signs of slowing underlying demand mounted as...
Cash is king for luxury car buyers in 2023
Last year proved challenging both for carmakers and buyers. Higher interest rates, dogged inflation and price hikes on gas and consumer goods reduced monthly...
