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Automotive Deals

MULN Stock: 5 Signs That Mullen Is Entering a ‘Death Spiral’

June 12, 2023

Mullen Automotive (NASDAQ:MULN) has long surprised me with its ability to stay alive. Every time cash has run short, the firm has managed to issue more convertible debt and spin it to retail investors as a positive event. “As of Feb. 28, 2023, Mullen has $87,400,009 of cash and cash equivalents, including restricted cash, and Mullen expects to receive an additional $110 million from firm commitments by June 1, 2023” a March press release noted. Even its overpriced acquisitions have been a masterclass in how to hide intangible assets. I detailed here how Mullen’s financials likely overstate the carrying value…

Automotive Deals

Chrysler-Dodge-Jeep-Ram and Kia dealerships change owners

June 9, 2023

Sons Automotive added two stores Sons Automotive Group bought two dealerships in Montgomery, Ala., in part because they’re in a “single-point” market — that is, without competing, same-brand stores, said Clay Nalley, CEO of the Atlanta group. Sons Automotive on Jan. 17 bought the former Brewbaker Motors, a Stellantis dealership, and Brewbaker Kia, from selling dealer Dick Brewbaker. They stores were renamed Sons Chrysler-Dodge-Jeep-Ram-Fiat and Sons Kia of Montgomery, respectively. Nalley is the principal dealer for the Montgomery stores. He and his brothers, Slater and Street Nalley, are co-owners of Sons Automotive. Their father is Atlanta-area dealer Jim Nalley. The…

Automotive Deals

Best New Car Deals for Memorial Day 2023

June 7, 2023

The cars listed below—all 2023 models—appear in descending order of the potential savings off the manufacturer’s suggested retail price. To show specific pricing examples, we highlighted specific, popular versions. The potential savings span from 10 percent to 6 percent off the original MSRP—and this often holds true across the model range. There are typically regional deals that highlight these national offerings. They can be found through our Build & Buy Car Buying Service. We also list the average transaction price for each example, reflecting what others have recently paid. Ultimately, that is the number to beat with your negotiation. Securing…

Automotive Deals

M&A activity related to electric vehicles will decrease in the automotive industry in 2023

June 5, 2023

In value terms, electric vehicles-related deal activity increased by 425% in Q1 2023 compared with the previous quarter’s total of $419.2m and fell by 16% as compared to Q1 2022. Related deal volume decreased by 23% in Q1 2023 versus the previous quarter and was 19% lower than in Q1 2022.The top-ranked financial advisors supporting these M&A deals in Q1 2023 were ACP Capital Markets; Benchmark Investments; Rothschild & Co with 1, 1, 1 deals respectively.The top-ranked legal advisors supporting these M&A deals in Q1 2023 were J Sagar Associates; Jones Day; Norton Rose Fulbright with 1, 1,…

Automotive Deals

The 10 best new car deals for Memorial Day weekend

June 3, 2023

Car dealers are dealing again. Thanks to improving supplies, the average amount paid for a new car has fallen below the manufacturer’s suggested retail price (MSRP), and incentives are growing. There are plenty of discounted models to be found this Memorial Day weekend, but Consumer Reports has highlighted some of the best. It’s restricted its picks to models with high overall scores in its benchmark ratings. RARE LICENSE PLATE SOLD FOR RECORD $15 MILLIONPotential car buyers view of Hyundai Motor Co. vehicles on display for sale on the lot of the Keyes Hyundai dealership in the Van Nuys neighborhood…

Automotive Deals

There Are New Car Deals to Be Had This Memorial Day

June 1, 2023

For the past few years, new-car prices have obviously been climbing, so it’s nice to learn that there are some traditional Memorial Day deals out there this year. With the pandemic fading away and the related supply-chain problems sorting themselves out, we’re back to perks like low financing offers and factory discounts. The best deals available knock around 10 percent off the price of the car but don’t expect that sort of sale on everything on the lot.For years, Memorial Day has been on the rotation for holidays that often come with deals at local car dealerships. It’s the…

Automotive Deals

Trade deals, tariffs and Brexit: how will they shape UK prospects?

May 26, 2023

Home › Articles › Trade deals, tariffs and Brexit: how will they shape UK prospects?These significant forces have not yet led to a major change in export markets served by UK vehicle companies, but they could in the future, writes Ian HenryUntil the Brexit vote in 2016, few people in the UK, even within the automotive sector, knew much or even thought about trade deals and tariffs. The Brexit negotiations changed that and the actual and potential costs of leaving a large trading bloc were front and center of the industry’s concerns. The UK-EU Trade and Co-operation Agreement…

Automotive Deals

What’s the Best New-Car Deal for May 2023?

May 24, 2023

From Derby Day to Mother’s Day, May brings no shortage of reasons to celebrate. But while a rose garland is the coveted award for the top horse (and a rose bouquet might be for the top mom), shoppers looking for a good deal on a new ride would likely trade the smell of roses for the new-car smell. Although we haven’t crossed the finish line of the inventory shortage just yet, shoppers should find a few reasons to celebrate this month — namely, rising inventory levels and incentives. Related: Is the Inventory Shortage Coming to an End? According to JD…

Automotive Deals

Best EV Lease And Financing Deals In May 2023

May 22, 2023

It seems EV lease and financing deals are already improving notably in 2023. That said, it might be safe to assume that most deals will never go back to the way they were before the pandemic. At any rate, if you’re going to buy or lease an EV this year, at least you’ll be appreciated of what manufacturers are advertising promotions. While some brands haven’t yet published their manufacturer-sponsored leasing and financing offers this month, we like to get this article out as soon as deals begin to publish. It’s our hope that you can use this article to get…

Automotive Deals

Best 0% APR Car Deals: May 2023

May 20, 2023

The best 0% financing deals on new cars, SUVs, and trucks in May involve no-interest auto loans for 72 months plus as much as $25,000 in financing incentives which can save you a significant amount of money. In many cases, 0% APR deals on cars can beat interest rates from banks and credit unions. While it may seem like rates are only going up, several car brands are still offering zero-interest loans on cars. Most of these incentives may require top-tier credit in order to qualify and can sometimes vary by region. Be sure to check with your dealership for…

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