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New interest rate hike, Ford EV losses, consumer spending record

CBT News -
Inside Automotive LAcarGuy owner Mike Sullivan on the EV market: 'EVs are an easy business for us here in California' When we last met with LAcarGuy...

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Hyundai and Kia warn customers of fire risk, expand recall effort

Colin Velez - 0
Yesterday, Hyundai and Kia expanded recall efforts by notifying drivers of a potential fire risk affecting 571,000 vehicles. This is Hyundai's second recall targeting the...
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Carvana announces new debt plan and Q1 loss estimate

Colin Velez - 0
On Wednesday, Carvana released an early loss estimate with its first quarter guidance, and shared a new debt plan which would significantly reduce its...
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New software updates have merged Rivan’s navigation with Tesla’s Superchargers

Jaelyn Campbell - 0
Rivian's navigation system has been integrated into Tesla’s most recent software update as part of the automaker's attempt to utilize a special plug in...
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Ford’s Tennessee plant intends to produce 500,000 EVs every year

Jaelyn Campbell - 0
On March 24, Ford announced its new plant, which is being built south of Memphis, Tennessee, will be able to produce 500,000 EVs yearly...
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Consumers spend record-breaking amount on new vehicles in Q1

Jaelyn Campbell - 0
According to a joint prediction from J.D. Power and LMC Automotive, total new vehicle sales for March 2023, including retail and non-retail transactions, are...
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Tesla set to lose EV tax credit on Model 3 pending new battery guidelines

Colin Velez - 0
Buyers of certain Tesla vehicles have reaped the benefits of the $7,500 EV tax credit since it launched January, but the company now expects...
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Fed raises interest rates one more time, indicates hikes could be ending

Colin Velez - 0
The Federal Reserve has hiked interest rates once again, this time by 0.25%, but appears poised to discontinue the dis-inflationary tactic. After the last increase...
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Ford anticipates losing $3 billion on EV sales this year

Jaelyn Campbell - 0
Despite Ford anticipating increased profits on its internal combustion and commercial vehicle operations, the automaker also expects its EV business to lose $3 billion...
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