21 Articles
Jul 1, 2020 Official
Tesla tops Toyota by one measure as its stock price soars

Though in terms of revenue and sales, it's comparatively small

Tesla shares gained 5% in early morning trade to a record of $1,133, boosting the company's market cap to $209.47 billion - roughly $6 billion more than Toyota is currently valued by investors. Tesla is now worth more than triple the combined value of U.S. automakers General Motors Co and Ford Motor Co. After several years of losses, Tesla has delivered three straight profitable quarters since the third quarter of 2019 and surprised investors with solid first-quarter deliveries despite the vir

Reuters
Jul 1, 2020 Followup
Daniel Abt back in Formula E with Nio after getting sacked over ringer

He let a gamer sit in for him in virtual 'Race at Home Challenge'

The 27-year-old German lost his real world drive after he let a gamer take his place, without the rest of the field knowing, in an official Formula E 'Race at Home Challenge' event. Abt, a winner in Berlin in 2018, will replace Chinese driver Ma Qinghua alongside British driver Oliver Turvey at the Chinese-owned team in the season finale behind closed doors at the old Tempelhof airport next month.

Reuters
Jul 1, 2020
U.S. auto companies tout retail share gains as tanking fleet market holds back sales growth

Retail demand remains strong despite depressed sales figures

"This quarter demonstrated the resilience of the U.S. consumer," said Jeff Kommor, head of U.S. sales at Fiat Chrysler Automobiles NV (FCA) , as the automaker reported a 39% slump in sales for the second quarter. Scott Fink, CEO of Fink Automotive Group, which has two Hyundai stores and single Chevrolet, Volkswagen and Mazda dealerships in the Tampa, Florida area, said his sales in June were "pretty good," but he was concerned about "hot-bed states like where I am."

Byron Hurd
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