iab-automotive industry

Some car insurers refuse to cover certain Hyundai and Kia models

CNN — Progressive and State Farm, two of the largest U.S. auto insurers, are refusing to underwrite policies in certain cities for certain older Hyundai and Kia models that have been deemed too easy to steal, the companies say. Several reports indicate that companies have stopped offering insurance on these vehicles in cities like Denver, …

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UGA football car crash deaths: Injured passengers identified in car crash that killed football player and staffer

CNN — Police on Monday identified the two passengers injured in the single-vehicle car crash that killed University of Georgia offensive lineman Devin Willock and staff member Chandler LeCroy early Sunday, just hours after the team celebrated its national championship victory. Shortly before 3 am Sunday, LeCroy, 24, was driving with Willock, 20, and two …

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UGA footbal car crash deaths: Police investigate fatal crash that killed football player and staff member after championship celebration

CNN — On the heels of the University of Georgia’s national championship victory, police are now investigating a fatal single-car car crash early Sunday that killed football player Devin Willock and staff member Chandler LeCroy just hours after the Bulldogs’ triumphant celebration with fans, authorities said. Shortly before 3 am Sunday, LeCroy, 24, was driving …

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Tesla owners in China protest the brutal price cuts they missed

Shanghai Reuters — Hundreds of Tesla owners gathered at the automaker’s showrooms and distribution centers in China over the weekend, demanding discounts and credits after sudden price drops, which they say , meant that they had overpaid for the electric cars they had purchased earlier. About 200 recent Tesla Model Y and Model 3 buyers …

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Sony and Honda unveil the name of their car brand, Afeela

CNN — Sony and Honda, which last year announced a joint venture to develop and build electric cars, have revealed the name of their new car brand. Her name will be Afeela. During a presentation at the Consumer Electronics Show, Sony Honda Mobility chief executive Yasuhide Mizuno unveiled a prototype of the company’s first car, …

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Elon Musk has lost a bigger fortune than anyone in history

New York CNN — Elon Musk’s wealth destruction has become historic. The CEO of Tesla (TSLA), SpaceX and Twitter is worth $137 billion, according to the Bloomberg Billionaires Index, well enough for second place on the world’s richest list behind LVMH (LVMHF) chairman Bernard Arnault. But at his peak in November 2021, Musk’s net worth …

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Elon Musk’s Twitter Obsession Isn’t the Main Reason for Tesla’s Stock Drop

New York CNN — A popular misconception has emerged about Elon Musk and Tesla: The mega-billionaire’s love affair with Twitter is the main reason why Tesla shares have lost so much value this year. But Tesla’s strong stock selloff this week proved that Musk’s automaker’s problems go far beyond Twitter. Even though Musk signals he …

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