Group 1 Automotive improves first-quarter revenue as net income drops

Group 1 Automotive improves first-quarter revenue as net income drops

Group 1 Automotive Inc.’s net income plunged 22 percent for the first quarter even as acquisitions, service business growth and elevated vehicle pricing pushed the dealership group’s revenue to a new quarterly record. Net income for the quarter was $158.4 million, Group 1 reported Wednesday. Revenue increased 7.4 percent to $4.13 billion. Group 1, of

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Battery startup Sparkz strikes partnership with auto workers union

Battery startup Sparkz strikes partnership with auto workers union

California-based battery manufacturer startup Sparkz Inc. said Tuesday it had agreed to a partnership with the UAW as it finalizes plans to begin commercializing zero-cobalt, zero-nickel battery production. The UAW has been working to organize new battery facilities as the auto industry shifts to electric vehicle production. Sparkz and the UAW said they had signed a

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Tesla Has Solid Lead As California Passes 1 Million Fully Electric Cars

Tesla Has Solid Lead As California Passes 1 Million Fully Electric Cars

While most automakers are ramping up their EV efforts, Tesla still maintains a notable lead in most markets. With the release of California’s Q1 2023 zero-emission vehicle (ZEV) sales report, this fact couldn’t be more obvious, and it makes rivals’ prospects of soon surpassing Tesla seem increasingly far-fetched. Tesla sells a large number of EVs

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Ohio Ballistic Missile Submarine To Visit Korea For First Time In 40 Years: Reports

Ohio Ballistic Missile Submarine To Visit Korea For First Time In 40 Years: Reports

The War Zone A visit to South Korea by an Ohio class ballistic missile submarine is part of a reported broader new deterrence deal with the United States. USN A U.S. Navy Ohio class nuclear ballistic missile submarine is reportedly set to make a visit to South Korea sometime in the near future. This will

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Repos Rising Again As Subprime Auto Loans Put Owners Way Behind

Repos Rising Again As Subprime Auto Loans Put Owners Way Behind

News → Car Buying News With cost of living increases cutting into already-tight budgets, high-interest car loans are some of the first to go. Paul Chinn/The San Francisco Chronicle via Getty Images It’s a bad sign for the economy when the tow-truck business spikes. That’s what we’re seeing now, as a Bloomberg report details the

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Tesla broke U.S. labor law by silencing workers, official rules

Tesla broke U.S. labor law by silencing workers, official rules

Tesla Inc. supervisors at a Florida service center violated U.S. labor law by telling employees not to discuss pay and other working conditions or bring complaints to higher level managers, a U.S. labor board official has ruled. Managers at the Orlando repair shop illegally silenced workers in 2021 after some of them complained that new

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2023 Shelby Mustang Mach-E GT Debuts As Tuner's First Production EV

2023 Shelby Mustang Mach-E GT Debuts As Tuner’s First Production EV

Shelby is known around the world for injecting a bit more attitude into Ford Mustangs. Now, the Nevada-based company is officially reaching into the electric realm with the Mustang Mach-E, at least when it comes to appearance. Say hello to the Shelby Mustang Mach-E GT, the first fully electric production Shelby vehicle ever. But you

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