May 30, 2013 |
Tesla Motors Inc. Chief Executive Elon Musk has announced an accelerated rollout of fast super-charger stations across the U.S. and parts of Canada, promising to boost the current eight stations to 25 by midsummer. By the winter months of this year, Musk said, coast-to-coast travel for the company's electric car will be possible along Interstate 80. Musk said that 80% of the U.S. would have access to the $150,000-to-$300,000 stations by 2014, and that 98% of the nation would be covered by 2015.
April 2, 2013 |
Tesla Motors has worked out a deal with several banks to sell its pricey electric sports sedan with a guaranteed buyback after 36 months. The transaction is meant to be competitive with leasing, a key component of luxury auto sales. In a lease, people essentially rent fancy nameplates such as Mercedes-Benz and Jaguar -- instead of putting up a lot of cash or taking a large loan to finance the purchase. Tesla is now getting into that game, with a transaction that works like a lease but actually is a resale agreement.
CALIFORNIA | LOCAL
December 7, 2001 |
Sidney H. "Buster" Kelley, who had built the world's largest used-car business by the 1940s and helped develop the Kelley Blue Book as the bible of automobile values, has died. He was 92. Kelley died Wednesday at the Norco home of his daughter, Deborah Sanchez. A resident of Huntington Beach, Kelley had been battling cancer and related illnesses for several years, said his son, Robert. "Dad was a goer, always saying, 'Let's go for it,' " Robert Kelley said. "He was very innovative.
March 24, 2011 |
To buy or not to buy? That is the question facing many car shoppers these days. That's because rising gas expenses and a looming shortage of Japanese-built hybrid and fuel-efficient vehicles are starting to pump up prices for gas-sipping autos. But analysts at auto information company Kelley Blue Book say that with all this turmoil in the marketplace, consumers should think twice about jumping to buy a new car. They say it's a mistake to pay a premium for a fuel-efficient car when gas prices could easily drop in the coming months and the price of the vehicles come back down.
January 25, 2012 |
New legislation in Sacramento aims to protect car buyers from being overcharged at used-car lots by requiring the dealerships to post the fair market value on each vehicle they sell. The goal, Assemblyman Bob Wieckowski (D-Fremont) said, is to help inform consumers who otherwise have no idea what a fair price for a vehicle is before agreeing to buy it. Although the bill applies to all lots selling used cars, he said AB 1534 is aimed specifically at Buy Here Pay Here dealers, which sell to people with low income and bad credit.
May 6, 2013 |
BMW is recalling 42,000 of its model year 2002 and 2003 3-series cars because of front-passenger-side air bags that may not inflate properly in a collision, the automaker said Monday. BMW is the latest to join a group of five other automakers that have recalled more than 3 million vehicles because of the air bag problem, which could spray shrapnel around the cabin in a crash. "We have not had a single case of a reported failure in our cars, but it is the same problem, yes," said BMW spokesman Julian Arguelles, in an interview.
April 11, 2012 |
If you are planning to sell or trade in a used car, the next couple of months might be the most optimum time. Prices of late-model used cars are expected to peak for the year over the next six weeks or so, according to analysts at the National Automobile Dealers Assn. Used Car Guide. That's because auto dealers are trying to stock up on their used-car inventory for the busy spring and summer seasons and there is a shortage of good used cars, an echo effect of the recession.
March 3, 2011 |
Buyers shifting their shopping to small, fuel-efficient vehicles because of high gas prices run the danger of making a long-term decision on a short-term price spike and finding themselves driving a car they don't want, some analysts warn. "It is like people who look out the window, see that it is raining and then think it is going to rain for the next four years," said Jack Nerad, an analyst with auto information company Kelley Blue Book. Though most oil watchers believe the cost of petroleum is on an ever-upward curve, the steepness of the climb is likely to be uneven, and it's not clear whether prices will remain high if political turmoil in Arab oil-producing nations recedes.
July 9, 2010 |
Though sales of cars and trucks in the U.S. continue to be more sluggish than expected, automakers are enjoying the largest increase in average transaction prices in more than five years. Industrywide, consumers spent an estimated average of $29,217 on a new car or truck from January through May — an increase of $1,057, or 3.7%, from last year, according to estimates provided by Edmunds.com. Edmunds' figures are based on a sampling of data from about 40% of U.S. dealers. The Detroit Three are outpacing the industry's gains — giving the automakers an opportunity to improve profit margins.
August 25, 2010 |
Teachbook.com has two employees and fewer than 20 users signed up for its free Web community. The site has yet to officially launch. But the Northbrook, Ill., company, which provides tools for teachers to manage their classrooms and share lesson plans and other resources, has been thrust into the spotlight by social networking giant Facebook, which sued the start-up for using "book" in its name. "We've been sitting here scratching our heads for the last couple of days," Teachbook's managing director, Greg Shrader, said Wednesday.