Formula 1 Automotive

Herb Chambers, billionaire businessman of car dealership fame, selling Back Bay condo for $18 million

Car-dealership tycoon Herb Chambers has listed his Back Bay condo overlooking the the Boston Public Garden for sale for $18 million, the Wall Street Journal reported.

The roughly 3,300-square-foot home located at 220 Boylston St. at the Four Seasons Hotel and Residences features three bedrooms and a study. It was listed for sale on April 14 by agent Michael Carucci of Gibson Sotheby’s International Realty.

Chambers, who owns 59 car dealerships selling brands such as BMW, Mercedes Benz, Audi, Lexus and Porsche throughout New England, is worth an estimated $2 billion, according to Forbes. He’s made the media company’s billionaires list annually since 2018.

Chambers purchased the Boylston Street condo for $8.875M in 2016, city property records show. The property’s assessed value is $7.2 million. The renovated property consists of three consecutive homes, reported.

Chambers is looking to sell the Boylston Street unit after buying a

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5 Top Automotive Stocks For Your Late April 2022 Watchlist

5 Automotive Stocks To Watch In The Stock Market This Week

The past few years in the automotive industry have been the rise of multiple trends. The growing importance of electric vehicles (EVs) and autonomous vehicles (AVs) has brought the industry back into the limelight. Hence, investors are often on the lookout for top automotive stocks in the stock market. Well, Tesla (NASDAQ: TSLA) recently set the tone for the industry as it announced its first-quarter financials. The company reported better-than-expected revenue and earnings across the board. These electrifying gains were also accompanied by a bold prediction by the company CEO, Elon Musk. He believes that Tesla’s vehicle production will exceed expectations this year despite supply-chain bottlenecks and disruptions in China. 

With that said, other automotive giants are also stepping up their game. For instance, BMW (OTCMKTS: BMWYY) seems to be motivated to regain its crown

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New race cars designed by Purdue Motorsports students unveiled

WEST LAFAYETTE, Ind. — Purdue Motorsports unveiled three of their newest race cars designed and built for the 2022 Society of Automotive Engineers Collegiate Design Series.

Since 1983, Purdue students have competed in the event with custom race cars that they worked on throughout the winter and spring, readying the cars to race against other universities in the summer.

Many of these students faced a unique challenge that their predecessors never dealt – the pandemic altered the structure of how these teams normally functioned in prior years.

“Now last year, our teams actually did really well, because during COVID, it forced everyone to collaborate remotely. So that means they had to document their processes in more detail. In fact, that’s a major part of the SAE competition. It’s not just the driving; students have to also give a design presentation and a business presentation to showcase the decision-making that went

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Fate of Direct-To-Consumer Car Sales Uncertain

Electric vehicles parked outside the state Capitol building Credit: Hugh McQuaid / CTNewsJunkie

Connecticut lawmakers who walked through the state Capitol building’s parking lot Wednesday had the opportunity to inspect a display of high-end electric vehicles but the fate of legislation to allow the direct-to-consumer sales of those vehicles remains uncertain in the Senate. 

New models from Tesla, Rivian and Lucid were parked on the south side of the Capitol complex as part of an Electric Vehicle Day event. All three exclusively electric vehicle manufacturers have lobbied the legislature for an exemption to a state law requiring auto companies to sell their vehicles through franchise dealerships.

The legislation, once known as “the Tesla bill,” has been before the General Assembly for years and although a version of it once passed the House of Representatives in 2015, it has never been raised for a vote in the Senate. Last year, it

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