Automotive Accessories

Advance Auto Parts: Buy, Sell, or Hold?

July 11, 2023

Advanced Auto Parts (AAP 1.98%) isn’t just disliked among financial market commentators; it’s actually despised. Even long-standing value investors have made a pariah of this automotive parts standby. In a time when new vehicles are expensive and the average age of a car on the road is 12.5 years, Advance Auto Parts stock should be an obvious buy-and-hold. Yet, the company’s first-quarter financial report was so disastrous that Advance Auto Parts stock went from a no-brainer to a no-go for many prospective investors. Still, if you dare to venture where others won’t, there may just be a bargain afoot with…

Automotive News

Why car dealerships should consider diverse business partners

July 11, 2023

Curious to learn more? Here are five ways choosing diverse partners can benefit dealership leaders. 1. It gets you access to the best of the best. The best talents come from all backgrounds. Working with a partner that has built a diverse team means you’re working with a group of professionals who have been carefully assembled — each person, no matter who they are, was hired because they were the right person for the job. And in the fast-paced automotive world, that’s a powerful edge over the competition. 2. It supports balanced decision-making. Every decision we make, to some degree…

Automotive Deals

Diamonds: Forever or for Everyone? The Rise of Lab Diamond Rings 

July 11, 2023

Diamonds have long been hailed as symbols of everlasting love, luxury, and beauty. However, the traditional diamond industry has faced criticism for its environmental impact, unethical practices, and high price tags. In recent years, lab diamond rings have emerged as an alternative that challenges the notion of exclusivity and offers a more sustainable and accessible option for consumers. This article explores the rise of lab diamond rings and their potential to redefine the diamond industry.  Lab diamond rings, also known as lab-created or synthetic diamond rings, are crafted in a laboratory setting using advanced technology that mimics the natural diamond…

Automotive News

Stellantis EV battery plant construction resumes after financial deal with government

July 10, 2023

Wednesday’s deal essentially “mirrors” the benefits Stellantis and LG would have received under the IRA if their battery plant had been set up in the US, said Ontario Economic Development Minister Vic Fedeli. “We’ve heard that Stellantis expects, if they were in the United States, over the course of time, they would receive $15 billion in tax breaks, so that would be expected in Canada,” Fedeli said in an interview. ‘GOOD DEALS FOR THE WORKERS’ He said the timeframe for that figure is roughly over 10 years, and it will depend on the start date and the level of production…

Used Cars

Inflation persists and car prices are a big reason

July 10, 2023

‌Car prices soared after the coronavirus lockdowns, and two years into the United States’ worst inflationary episode since the 1980s, the industry demonstrated that getting back to normal will be a long and lurching ride. In 2021 and early 2022, global shipping problems, a semiconductor shortage and factory shutdowns coincided with strong demand to push vehicle prices sharply higher. Economists had hoped that prices might ease as supply chains healed and the Federal Reserve’s interest rate increased deterred borrowers. Instead, prices for new cars have risen further. Domestic automakers are still producing fewer cars and focusing on more profitable luxury…

Automotive News

Rivian’s stock rallies to highest in 2023 after posting strong deliveries

July 9, 2023

NEW YORK, July 7 (Reuters) – Shares of Rivian Automotive (RIVN.O) surged more than 18% on Friday as it continued to rally after the electric vehicle (EV) maker reported better-than-expected quarterly deliveries early this week. Rivian said on Monday it delivered 12,640 vehicles in the second quarter on steady demand from customers, beating market estimates. That result was in line with that of market leader Tesla Inc (TSLA.O), which on Sunday reported a record quarterly vehicle deliveries fueled by incentives such as price cuts and US federal credits. The shares of several EV makers have risen since last week on…

Automotive Deals

Esports Automotive Deals : team vitality 3

July 7, 2023

Team Vitality is partnering with automotive brand KIA for a new two-year deal that revolves around content creation. The primary focus of this initiative centers around the immensely popular game League of Legends while also encompassing KIA’s role as the official supplier for Team Vitality’s LFL and LEC rosters. While specific details regarding the content series within the campaign have not been disclosed, it is anticipated that a diverse range of content will be produced to captivate and engage fans. The mutually beneficial partnership aims to cultivate fan interaction through an engaging campaign titled ‘The Lane of Movement.’ “We are…

Automotive Accessories

Alicia Silverstone’s Engagement Ring 

July 7, 2023

Alicia Silverstone is an actress and animal rights advocate who is known for her commitment to ethical living. In 2021, she announced her engagement to Christopher Jarecki, a film producer.  Silverstone’s engagement ring is a lab-grown diamond ring. Lab-grown diamonds are created in a laboratory rather than being mined from the earth. They are chemically and physically identical to mined diamonds, but they are often more affordable and have a smaller environmental impact.  The Choice of a Lab-Grown Diamond  Silverstone has said that she chose a lab-grown diamond for her engagement ring because she wanted to make a more ethical…

Automotive News

Magna, Linamar, Martinrea on 2023 Automotive News Top 100 Global Suppliers List

July 7, 2023

Just three Canada-based auto parts makers find themselves in 2023 Automotive News Top 100 Global Suppliers List. That’s two fewer than a year ago. The list, released Monday by sibling publication Automotive News in Detroit, tracks sales to automakers from the previous year. Magna International Inc., Linamar Corp. and Martinrea International Inc., landed on the list. Magna, based in Aurora, Ont., remained fourth on the list. It’s the only Canadian company in the top five. Magna had sales of $37.8 billion (all figures in USD) to automakers worldwide, up 4.4 per cent over the previous year. The company was also…

Used Cars

Wholesale used vehicle prices fall as sales weaken

July 7, 2023

A sign reads ‘We Buy Used Cars!!’ at an auto dealership on February 15, 2023 in Glendale, California. Mario Tama | Getty Images DETROIT – Wholesale used vehicle prices reached their lowest level of the year in May, as sales fell amid high interest rates and inflated retail prices. Cox Automotive reported Wednesday a 2.7% decline from April to May in its Manheim Used Vehicle Value Index to 224.5. It marks the second consecutive monthly decline and the index’s lowest level since 219.3 in December. The index, which tracks vehicles sold at its US wholesale dealership auctions, remains elevated from…

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