Lucid Group Inc. has been subpoenaed by the U.S. Securities and Exchange Commission (SEC) which is on the prowl for any documentation relating to its merging with a special purpose acquisition company (SPAC). Known colloquially as “blank-check firms,” these organizations literally exist to be combined with existing companies as a way to pump the stock and spur investments.

But they’ve gotten a lot of negative attention following a glut of EV startups garnering impressively high valuations based on little more than a business proposal. Those seeking an example need look no further than Nikola Corp, which was outed as having grossly overpromised on its technological capabilities and production acumen after raking it in on the stock market. As a result, financial regulators have become increasingly skeptical of SPACs and want to make sure everything going on with Lucid is above board.  Read More >

The snow is coming, at least for a good portion of the North American continent. This means that you might want to consider winter tires for your ride, in order to navigate snowy and icy conditions.

Problem is, a set of snowshoes for your car can be expensive.

Well, if you have a tight budget and a few minutes of time, we might be able to help.

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We continue our Rare Rides Icons series on Imperial today. Starting in 1957, Chrysler’s then-separate luxury arm spent more and more time on bold styling, and less on the hand-built quality for which the company’s first cars in 1955 and 1956 were known.

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When the pandemic convinced practically every industry to press pause in 2020, supply chains became so crippled that just getting sectors of commerce rebooted became a challenge in itself. It was the business equivalent of a twenty-car pileup, with the automotive industry being hit particularly hard due to the complexity of its own supply lines. While the following year represented an improvement, production failed to stabilize to pre-pandemic levels.

The solution for automakers and dealerships was to begin demanding more money for cars. With vehicles in short supply, the value of new and used models blew through the roof. This move kept automakers largely in the black for 2021, despite a general inability (or unwillingness) to manufacture products at the normal pace. However, it didn’t help suppliers, who are haven’t been able to tack on the same premiums to individual components while still having to cope with rising economic hurdles. Read More >

Ever since I began my effort to document some of the interesting machinery that shows up in car graveyards, the quantity of discarded Volvo 240s has remained steady. Back in the late 2000s, I’d had an idea that just about every 240 owner would make the transition from safe and sensible Swedish bricks to green and sensible Japanese hybrids, and that the transition would be wrapped up by the dawn of the 2020s. Such has not been the case, although the 1970s 240s are getting harder to find. Here’s a high-mile 245 in a mile-high junkyard. Read More >

Like it or lump it, social media is now an outsized part of official corporate communications. It’s to the point where these channels have been seen exclusively used as platforms for official reveals of new models, depending on the demographic an automaker is trying to target. This time around, Toyota has snuck a shadowy reference to an upcoming hot hatch in the background of an otherwise innocuous post about the Corolla Hatchback.

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Tesla CEO Elon Musk has sold another 934,091 shares of the company, worth a hefty $1.01 billion, as a way to meet tax obligations related to the exercise of options to buy 2.1 million shares. But it’s just a drop in the bucket, as Mr. Musk’s offloading of Tesla stock has surpassed $10 billion overall. That’s roughly 10.1 million shares since the CEO asked Twitter users at the start of November whether or not he should dump 10 percent of his existing stake in the company following its big move to Texas.  Read More >

Honda is recalling nearly 789,000 vehicles over a defect that could cause the hood to fly up while driving. While anyone wanting to reenact their favorite scene from 1995’s Tommy Boy is going to be thrilled, those less eager to follow Chris Farley into an early grave will probably want to get their car repaired ahead of any hilarious mishaps.

A report filed by the manufacturer with the National Highway Traffic Safety Administration (NHTSA) listed the affected models. They include the 2019 Honda Passport, 2016-2019 Honda Pilot, and 2017-2020 Honda Ridgeline. This impacts 788,931 vehicles globally, with the vast majority (725,000) being located in the United States.  Read More >

I know – we rarely (if ever) cover powersports on this site, given our mission to bring you news about cars and shine lights on dusty corners of the automotive industry. However, the new Polaris Ranger XP Kinetic is worth your attention, simply for the change it is signaling in terms of electric vehicles.

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Today’s Corona is the third to appear in the Rare Rides series. We started in early 2020 with a 1968 Corona Coupe and followed up that October with a Mark II wagon. Today’s entrant is from the last time North Americans could buy one.

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America’s love affair with the pickup truck is long from being over, and for good reason. 

Modern full-size pickup trucks are more capable, efficient, comfortable, and technologically advanced than ever before. They really have become the jack-of-all-trades choice amongst the automotive world. So when an all-new pick-up debuts, it’s a big deal.

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Word on the street is that Ford’s new “compact” pickup has been such as smashing success that the automaker is fresh out of product — at least in hybrid guise.

While the 2.0-liter turbo offers substantially more power and towing capability, the default 2.5-liter Duratec four-cylinder gasoline engine with a hybrid electric motor still produces an agreeable 191 horsepower and 173 lb-ft of torque. Mated to Ford’s e-CVT gearbox, the Environmental Protection Agency suggest the pickup delivers 42 mpg around town and 33 mpg on the highway. Considering that the vehicle retails just below $20,000 (before you account for taxes and dealer fees), offers a conservatively sized truck bed, and seats five, it’s little wonder that Ford’s tapped out in an era where people are being forced to tighten their belts.  Read More >

Unless you’ve spent the last twelve months locked inside your home, then you’re probably dreading the next trip to the gas station. The average price for a gallon of 87 octanes has reached $3.40 in the United States. That’s about 50 percent steeper than it was at the start of 2021 and undoubtedly more than you’re wanting to shell out today. Though one cannot ignore the dizzying rates being advertised outside of British “petroleum parlors” or France’s many “un bordel pour voitures.” Canadians are also forced to endure higher gasoline prices, as the government tends to stack the taxes a little higher and the U.S. dollar tends to be more valuable. At least for now.

All you need to know for the purposes of this article is that fuel prices are up and it’s influencing the economy in some pretty dramatic ways.  Read More >

The all-electric roadmap at General Motors continues apace. This week, the company announced plans to form a joint venture with a group called POSCO Chemical, an outfit that has nothing to do with our News & Social Media Contributor despite sharing a curiously similar surname.

GM’s plan calls for the parties to construct a facility in North America which will process critical battery materials for The General’s new Ultium electric vehicle platform. Note well: these are the gubbins planned to be used in upcoming rigs like the Lyriq and Hummer EV, not the maligned Bolt EV.

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No one reading this will assert the current environment is anything but a seller’s market. Numerous vehicles are being hawked for many thousands (in some cases, tens of thousands) over sticker and a vast amount of machines are pre-sold before they arrive at dealerships on the back of a hauler. And all that assumes there are any rigs to be had at all.

One customer north of the border is alleging they have been denied the opportunity to buy a vehicle unless they also agreed to take roughly $3,000 worth of warranties and rustproofing. The dealer, of course, denies it all.

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