Hertz Sells 20,000 Electric Cars After Being Burned by Tesla’s Price Cuts
The rental car company blamed the sharp drop in the value of electric vehicles and higher repair costs for its decision to sell 20,000 cars.
Red Sea Attacks Leave Shipping Companies With Difficult Choices
Attacks on two dozen ships since November are forcing shipping lines to figure out whether and when to skip the Suez Canal and send vessels on longer voyages around Africa.
General Motors Reports a 14% Jump in U.S. Auto Sales in 2023
The nation’s largest automaker sold more cars in 2023 than a year ago as supply chain chaos ended, but sales are now under pressure from rising interest rates.
Tesla Sales Rebound After Steep Price Cuts
The leading electric-vehicle maker also drew buyers eager to take advantage of government incentives that will be harder to get in 2024.
China’s BYD Sold 3 Million Electric Vehicles and Hybrids in 2023
Sales by BYD, the country’s dominant automaker, topped 3 million last year, including 1.6 million fully battery-powered cars in a sign of China’s rapid growth in EVs.
Fewer Electric Vehicles Will Qualify for U.S. Tax Credits in 2024
Purchases of popular models like the Tesla Model 3 and the Ford Mustang Mach-E may no longer entitle buyers to tax savings because the cars do not meet tougher sourcing requirements.
Ford Will Cut Planned Electric F-150 Production as Demand Slows
Ford and other automaker have had to readjust their electric vehicle production plans because sales have been weaker than they had expected.
Tiny Electric Vehicles Pack a Bigger Climate Punch Than Cars
Two- and three-wheeled vehicles, used by billions of people, are moving away from fossil fuels to batteries faster than cars in countries that have made the energy transition a priority.
Chasing Big Mergers, Oil Executives Dismiss Peak Oil Concerns
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
Interested in an Electric Vehicle? Consider Buying Used.
The prices of used battery-powered models have fallen sharply, as the supply of cars and trucks has improved.