Cruise’s mea culpa and everything that stood out at the LA Auto Show

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the newsletter every weekend in your inbox. Subscribe for free. Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. … Read more

Shekel Mobility, a B2B marketplace for auto dealers in Africa, raises $7M led by Ventures Platform and MaC VC

The World Economic Forum states that Africa has an average annual demand for 2.4 million cars and 300,000 commercial vehicles. This demand is increasing because of a continent-wide increase in disposable income, strong middle-class growth and rapid urbanization. But while most cars meeting this demand are used, car ownership in Africa is less than 45 … Read more

Startup Li Auto is beating Tesla China’s EV sales

Chinese startup Li Auto sold more cars in October than Tesla’s China business did in October, according to the China Passenger Car Association. Nurphoto | Getty Images BEIJING — Chinese startup Li Auto sold more cars than Tesla’s China business did in October, according to the China Passenger Car Association. The startup sold a record … Read more

Trade Desk shares plunge 30% on weak guidance tied to auto strikes

Jeff Green, CEO, The Trade Desk Scott Mlyn | CNBC The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts’ estimates. Third-quarter results topped estimates. Here’s how the company did: Earnings per share: 33 cents, adjusted vs. 29 cents expected … Read more

Grand Theft Auto 6 reveal reportedly happening this week

Rockstar Games reportedly plans to reveal Grand Theft Auto VI, the next installment in the hugely popular open-world franchise, as early as this week. Bloomberg reports that an announcement could come this week, with a trailer for Grand Theft Auto VI set to drop in December to mark 25 years of Rockstar Games. Rockstar first … Read more

Mortgage rates are dropping fast after a shock jobs report set off a series of dominoes on Wall Street—The housing market can thank Detroit’s striking auto workers

In our upside-down economy, where good news for ordinary people means bad news for financial markets, worries about an overheated labor market pushed 10-year Treasury yields to their highest level in 16 years in October. That put pressure on stocks, and lifted the average rate on America’s most popular mortgage into yet-more-inaccessible territory, pushing it … Read more

Chinese EV startups Xpeng, Li Auto deliver record cars in October

Xpeng reveals its G6 SUV at a major auto show in Shanghai on April 18, 2023. Vcg | Visual China Group | Getty Images BEIJING — Chinese electric car companies Xpeng and Li Auto each delivered a record number of cars in October, according to company releases late Wednesday. Xpeng said it delivered 20,002 cars … Read more

Tesla Autopilot arbitration win could set legal benchmark in auto industry

In a victory for Tesla, a California federal judge ruled over the weekend that a group of Tesla owners cannot pursue in court claims that the company falsely advertised its automated features. Instead, they will have to face individual arbitration. U.S. District Judge Haywood Gilliam’s ruling isn’t a win for the defensibility of Tesla’s advanced … Read more

The Game Theory of the Auto Strikes

Everyone involved in the strike should be calculating what’s at stake to figure out what sort of offers they’d be willing to accept or make—in other words, to resolve the whole dispute. “Absent calculating the pie, I would be negotiating with my eyes closed,” Nalebuff says. Perhaps that sounds too abstract to be much help … Read more

This Flying Car Just Wowed the Detroit Auto Show. It Could Be in the Skies by 2025.

A flying car sketched on a Silicon Valley coffee shop napkin in 2015 made its public debut eight years later at the Detroit Auto Show, which concludes today. Alef Aeronautics, a California-based start-up, unveiled its Model A prototype, to unusually large crowds that circled the curvy, UFO-like contraption, punctuated with a bubble-like compartment for two … Read more