DETROIT — Ford Motor Co. is lowering the price of its Mustang Mach-E crossover between $1,000 and $3,000, depending on the trim, as it prepares to launch the vehicle later this year. In a memo to dealers, Ford said the Premium trims will get a $3,000 price cut, with the all-wheel-drive version dropping to $50,800
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Scott Wine, CEO, Polaris Industries Scott Mlyn | CNBC With more Americans spending time in the great outdoors amid the coronavirus pandemic, the trend has lead to a glut in inventory at recreational vehicle dealerships. Polaris and Thor Industries, two recreational vehicle manufacturers with more than $5 billion in value on the stock market, are
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Steel production has rebounded alongside the recovery in automotive production this quarter, Cleveland-Cliffs CEO Lourenco Goncalves told CNBC Monday. U.S. automakers are sprinting to re-stock showrooms and get back on production schedule after plants were shut down earlier this year as the country took action to slow the spread of a novel coronavirus. “We have
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LONDON — MG Motor is expanding to all major markets in Europe including Germany as it broadens its range of electrified vehicles. The British brand, which is owned by SAIC Motor of China, is advertising senior sales positions in Germany, Spain and Italy. MG did not give a detailed timeline for the expansion but its
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YOKOHAMA, Japan — Infiniti’s next-generation QX60 crossover will get more muscular, premium styling that heralds a reboot for the brand. Infiniti Chairman Peyman Kargar expects next year’s arrival of the QX60 three-row midsize crossover, along with the launch of the new QX55 coupe-styled compact crossover, to stoke sales while winning new customers. “We are beginning
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WASHINGTON — Fiat Chrysler Automobiles will pay a $9.5 million civil penalty to settle allegations it misled investors by not disclosing that it conducted only a limited internal review of its compliance with emissions regulations, the top U.S. securities regulator said Monday. Fiat Chrysler, which did not admit or deny wrongdoing to resolve the Securities
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By Joey Klender Posted on September 28, 2020 Tesla (NASDAQ: TSLA) investors enjoyed a sizeable 4.5% gain during early trading hours on Monday morning, after the automaker and Piedmont Lithium announced a five-year supply deal for the material. A press release from Piedmont indicated that about a third of its 160,000-tones-per-year spodumene concentrate produce would
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BEIJING — Volkswagen Group plans to invest about 15 billion euros ($17.44 billion) in electric mobility with three local joint ventures in China. The investment will allow VW and FAW Group, SAIC Motor and JAC to build 15 different full-electric or plug-in hybrid models in China by 2025. VW will start making EVs based on
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From economic stresses to increased work-from-home numbers, byproducts of the COVID-19 pandemic are giving pause to car shoppers who might otherwise consider an electric vehicle to replace their internal-combustion-engine model. But this is just a short-lived bump in the road that will be followed by a rebound in consumer interest in EVs. There are compelling
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