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Auto Blog News Feed: Tesla tops Toyota by one measure as its stock price soars

Wed, 07/01/2020 - 20:46

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Tesla shares gained 5% in early morning trade to a record of $1,133, boosting the company's market cap to $209.47 billion - roughly $6 billion more than Toyota is currently valued by investors. Tesla is now worth more than triple the combined value of U.S. automakers General Motors Co and Ford Motor Co. After several years of losses, Tesla has delivered three straight profitable quarters since the third quarter of 2019 and surprised investors with solid first-quarter deliveries despite the vir

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Tesla tops Toyota by one measure as its stock price soars originally appeared on Autoblog on Wed, 1 Jul 2020 16:46:00 EDT. Please see our terms for use of feeds.

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Auto Blog News Feed: EV maker Byton halts operations for 6 months as it faces financial woes

Wed, 07/01/2020 - 20:07

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Luxury EV designer Byton has paused its operations for six months due to financial problems worsened by the pandemic.

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EV maker Byton halts operations for 6 months as it faces financial woes originally appeared on Autoblog on Wed, 1 Jul 2020 16:07:00 EDT. Please see our terms for use of feeds.

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Auto Blog News Feed: Daniel Abt back in Formula E with Nio after getting sacked over ringer

Wed, 07/01/2020 - 19:56

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The 27-year-old German lost his real world drive after he let a gamer take his place, without the rest of the field knowing, in an official Formula E 'Race at Home Challenge' event. Abt, a winner in Berlin in 2018, will replace Chinese driver Ma Qinghua alongside British driver Oliver Turvey at the Chinese-owned team in the season finale behind closed doors at the old Tempelhof airport next month.

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Daniel Abt back in Formula E with Nio after getting sacked over ringer originally appeared on Autoblog on Wed, 1 Jul 2020 15:56:00 EDT. Please see our terms for use of feeds.

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Auto Blog News Feed: Car-buying demand remained 'robust' in June despite pandemic

Wed, 07/01/2020 - 16:52

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"This quarter demonstrated the resilience of the U.S. consumer," said Jeff Kommor, head of U.S. sales at Fiat Chrysler Automobiles NV (FCA) , as the automaker reported a 39% slump in sales for the second quarter. Scott Fink, CEO of Fink Automotive Group, which has two Hyundai stores and single Chevrolet, Volkswagen and Mazda dealerships in the Tampa, Florida area, said his sales in June were "pretty good," but he was concerned about "hot-bed states like where I am."

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Car-buying demand remained 'robust' in June despite pandemic originally appeared on Autoblog on Wed, 1 Jul 2020 12:52:00 EDT. Please see our terms for use of feeds.

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