Tesla Inc. cut the price of its mass-market Model 3 sedan for the second time this year, another step in Chief Executive Elon Musk’s quest to drive the sticker price—not counting tax credits and fuel savings—down to $35,000. The Silicon Valley auto maker shaved another $1,100 off the cheapest version of the Model 3, lowering […]
The lowest priced Model S will now cost $85,000 with software limiting the range of the battery to 310 miles per full charge, while the Model X will start at $88,000 with a range of 270 miles. The “extended range,” “performance” and “performance with ludicrous mode” versions will range from $93,000 to $137,000.
Railroad executives played down concerns about a cooling U.S. economy, which they said remains on solid footing as growing shipments of grain, oil and e-commerce packages offset broader worries over trade policy and volatile stock markets. The chief executives of CSX Corp. and Union Pacific Corp. said conversations with their shippers, which represent a broad […]
Consumer confidence dropped in January for a third consecutive month, likely hit by political discord in Washington, in addition to market and economic uncertainty weighing on U.S. households. The Conference Board on Tuesday said its index of U.S. consumer confidence fell to 120.2 in January from 126.6. It is now down 17.7 points from October, […]
The holiday season was a brutal one for U.S. retailers, especially department stores and companies that sell luxury products, and companies and investors alike didn’t see it coming. The U.S. economy has been growing at a steady pace, and unemployment is low and consumer confidence is high. That seemed to set the stage for strong […]
Los Angeles officials are socking away money for the next recession. The nation’s second-largest city has set aside close to $500 million across several funds to help weather emergencies and financial shocks, said Matt Szabo, Mayor Eric Garcetti’s top budget adviser. It had about $192 million in reserves before the last recession, which officially lasted […]
Home sales tumbled in December to their weakest level since 2015, ending a difficult year at a new low and offering fresh evidence that the housing market could be in for a bumpy ride in 2019. Some of the same forces that pounded global financial markets in the fourth quarter caused home buyers to pull […]
Tesla needs more cash. To help keep what it’s got from flying out the door, Chief Executive Elon Musk on Wednesday announced the end of a customer referral program that offers free Supercharging to new buyers. “It’s adding too much cost to the cars, especially the Model 3,” Musk said in a tweet late Wednesday. […]
On Sunday, the eve of the Detroit auto show, GM unveiled early images of its first electric Cadillac. The company said Friday that its storied luxury brand would launch the first vehicle on its third-generation EV production system. Previous projects, the Volt plug-in hybrid and the Bolt battery car, have taken the Chevrolet badge. GM […]
Cheap small sedans and hatchbacks have long been the gateway into the auto market for many generations of American drivers. But demand for these models is shrinking fast in favor of larger, more versatile crossovers and sport-utility vehicles, and more auto makers are dropping them altogether from their U.S. lineups, creating fewer options for budget-minded […]
Tesla will stop selling the lowest-priced versions of its Model S sedans and Model X SUVs from Monday, the automaker’s CEO Elon Musk wrote in a tweet late on Wednesday. The Model S and X are Tesla’s second and third major lines of electric vehicles, and are higher-priced lines compared to its newest Model 3. […]
A billion dollars of tax revenue, the taming of the black market, the convenience of retail cannabis stores throughout the state — these were some of the promises made by proponents of marijuana legalization in California. One year after the start of recreational sales, they are still just promises. California’s experiment in legalization is mired […]
Thousands of shale wells drilled in the last five years are pumping less oil and gas than their owners forecast to investors, raising questions about the strength and profitability of the fracking boom that turned the U.S. into an oil superpower. The Wall Street Journal compared the well-productivity estimates that top shale-oil companies gave investors […]
Tesla made about 9,300 more vehicles than it delivered last year, raising concerns among industry analysts that inventory is growing as demand for the company’s electric cars may be starting to wane. If demand falls, they say, the company will enter a new phase of its business. Like other automakers, Tesla will have to either […]
But not for much longer. Under federal rules, the full tax credit is available only on the first 200,000 cars that a manufacturer sells in the United States; two quarters later, the credit is reduced. Tesla reached that threshold in July. As a result, the credit available to Tesla buyers will fall to $3,750 for […]