Day: August 17, 2021

What You Should Know to Save Money

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Car prices are at an all time high, and consumers are feeling the pinch. According to Kelley Blue Book, in June 2021, the average transaction price for a brand new car was over $42,000. Used car prices also reached a record high average of over $25,000 in June 2021, paired with an average of 68,000 miles on the vehicle, according to Cox Automotive.

So what’s causing skyrocketing prices? A perfect storm of multiple factors, including a semiconductor (chip) shortage, inability from car manufacturers to meet demand, low interest rates from lenders along with high credit scores and extra savings from consumers. This has sent Americans running to car dealerships, and the once negotiable

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EV startups hunt for low-cost roads to mass production

BICESTER, England – Electric car and van startups racing to become the next Tesla Inc all want to avoid Elon Musk’s journey through “manufacturing hell.”

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But electric vehicle firms such as UK van company Arrival SA and Fisker Inc are taking very different roads to overcome the challenges of profitable mass production that almost broke Tesla.

A few have found investors willing to hand over billions to fund their journey. Rivian has raised around $10.5 billion from Amazon.com Inc, Ford Motor Co and others as it ramps up production to build electric vans, pickups and SUVs.

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Startups lacking Rivian’s wads of cash need cheaper paths to mass production or risk failing in the EV arms race – a danger Musk highlighted repeatedly on Tesla’s July 26 earnings call.

“The thing that’s remarkable

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