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Billionaire investor Ron Baron believes Tesla will be a $2 trillion company following shares of the Silicon Valley automaker surging more than 400% this year. Baron, a longstanding Tesla supporter and shareholder, said Wednesday morning on “Squawk Box” that he believes Tesla’s vehicle sales will grow 50% annually in the coming years. Tesla’s current market

Euisun Chung, scion of the Hyundai Motor Group’s founding family, has been appointed chairman of the South Korean auto giant, taking the reins from his father as the carmaker drives into an era of electrification, automated driving and new mobility. The younger Chung, 49, previously the auto group’s executive vice chairman, was promoted to chairman

Daimler and BMW are exploring a sale of their jointly-owned parking app business Park Now, according to people familiar with the matter, as the German luxury automakers focus on their core automotive operations. The companies are working with advisory firm Rothschild & Co. on the potential divestment, said the people, who asked not to be

LMP Automotive Holdings Inc., an emerging public auto retailer and subscription provider, said it agreed to purchase a majority stake in New York’s largest dealership group in a transaction valued at $608 million. The deal, announced late Friday, would advance LMP’s aggressive acquisition goal to grow to as many as 50 franchised new-vehicle stores within

The midengine Chevrolet Corvette has hit yet another production snag: a parts shortage that will halt assembly at the Bowling Green, Ky., plant this week. General Motors paused production of the 2020 Corvette beginning Monday, spokesman Kevin Kelly said. “Due to a temporary parts supply issue, we can confirm that Bowling Green Assembly will not

TOKYO — Infiniti’s new global design chief is putting his own stamp on the look of the lineup, starting with a fresh aura for the QX55 and QX60 crossovers arriving next year. Among the styling changes will be ditching the so-called “crescent cut” kink in the rear pillar. Taisuke Nakamura, who took over as Infiniti

TOKYO — From his glass-walled office high above central Tokyo, James Kuffner keeps a running computer file of “crazy ideas” for whenever a moment of genius strikes. Toyota’s newest board member and resident robotics wizard gets lots of bolts from the blue. One of his latest: a high-rise rooftop landing pad for flying cars that

Lucid Motors is a California-based electric vehicle start-up, and in September it revealed the Air, its vision for an electric, luxury sedan. The company promises some impressive specs, such as an estimated 517 miles of range. But starting up an electric vehicle company is notoriously difficult, and it faces steep competition from Tesla and other

As Rolls-Royce’s lineup has expanded via new models and redesigns, the evolving British ultraluxury brand is attracting more and younger customers. A stately sedan to be chauffeured in? Yes, Rolls-Royce still offers the flagship Phantom, a posh behemoth that costs about half a million dollars. But the rest of Rolls-Royce’s lineup — the Ghost sedan,

Nissan is shifting strategy on commercial vehicle sales now that it is pulling the plug on work vans. The automaker confirmed Friday that it will end production of full-size NV cargo and passenger vans in Canton, Miss., and the compact NV200 van in Cuernavaca, Mexico, next summer. Automotive News reported those plans in June. With

More customers are buying cars using a computer today, but one of a dealership’s most critical tools — if not the most vital — dates back more than a century. The telephone. Some dealers have invested in or expanded the use of products that help shoppers do more of the transaction online — e-commerce platforms,

One Tesla bull says the stock could be headed higher even after a more than 400% rally so far this year. Todd Gordon, founder of TradingAnalysis.com, sees several tail winds that should carry the stock back to record highs. First, he told CNBC’s “Trading Nation” that a record number of deliveries in the third quarter

Half of U.S. fire departments have no protocols in place to fight fires that break out in the growing number of battery-powered vehicles on the road, according to accident investigators. Only a quarter of fire departments have dedicated training for fighting blazes involving the EVs, according to the survey released Wednesday by the National Transportation

Dealers face a number of service department challenges beyond the pandemic, including declining rates of customer retention and satisfaction. But there are solutions out there. Speakers: Eliza Johnson, Director, Carlisle & CompanyScott Doering, Vice President of Customer Service, Volvo Car USANick Latino, COO, Performance Auto GroupDawn Matthews, Service and Parts Director, David Auto GroupScott Thompson,

Since December 2018, Waymo has provided fully driverless rides to a small group of hand-picked users in metro Phoenix. Starting Thursday, the company will offer those rides to a greater swath of riders. All of the rides in Waymo’s test bed will be fully driverless — that is, with no human safety driver aboard —

Nikola founder Trevor Milton has sued a Utah businessman for defamation, accusing him of a “malicious campaign to harass” and discredit the billionaire by publicly accusing him over Twitter of sexually abusing women, according to the lawsuit filed Monday. David Bateman, the founder and CEO of software company Entrata, started tweeting about Milton in late September, posting

Sonic Automotive Inc. CEO David Smith spent a night in the Mecklenburg County Jail in North Carolina after he was arrested on four charges Monday, including assault by strangulation, according to the jail. Smith, CEO of the nation’s sixth-largest new-vehicle retailer, was arrested at about 9:45 a.m. Monday and taken to the jail later that

In this photo illustration, the Tesla website showing the Tesla 3 model is displayed on the screen of an iPhone on March 18, 2019 in Paris, France. Chesnot | Getty Images News | Getty Images On September 24th, physician Dr. Ali Vaziri was unpleasantly surprised by a mobile alert from his bank, which said he

Jaguar has withdrawn its entry-level XE midsize sedan from the U.S. because of poor sales and a consumer shift  to SUVs, the luxury brand said in a statement. Jaguar sold just 886 XEs in the first half in the key market. The XE was priced from $39,900 in the U.S. Jaguar will continue to sell

Headquarters of the Ford Motor Company in Dearborn, Michigan. In a recent survey of 30,000 workers, the auto giant found a majority never want to come back to the office five days a week, and it is taking that data seriously. James Leynse | Corbis | Getty Images The era of massive highways and major