Month: June 2020

Tesla’s China Car Registrations Jump In May; Stock Down In Pre-Market On Analysts’ Rating Cuts

Tesla Inc.’s (TSLA) China car registrations in May jumped 150% month on month, Reuters reported citing data from auto consultancy LMC Automotive.

The U.S. electric vehicle maker’s China registrations, including imported cars, grew to 11,565 in May from 4,633 units in April.

Data from the China Passenger Car Association shows sales of Tesla’s Shanghai-made Model 3 sedan hit 11,095 units in May.

Still, shares in Tesla continued to fall in Monday’s pre-market trading declining another 3.4% to $903.45 after dropping 3.9% on Friday. Meanwhile, year-to-date the stock has more than doubled.

Last week’s start of a downward trend was triggered by two rating downgrades from analysts at Morgan Stanley and Goldman Sachs.

Morgan Stanley’s Adam Jonas lowered his rating on the stock to Sell from Hold with a $650 price target (31% downside potential) amid concerns about U.S.-China trade dynamics as well as recent price cuts of some

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Petersen Automotive Museum Set To Reopen Soon

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At long last, we can make our pilgrimage to this hallowed car museum.

During the coronavirus shutdowns, we gearheads have seen races, shows, and other events canceled right and left. Even car museums shuttered their doors. Thankfully, many of these fine facilities from around the world have been sharing online videos and more to keep us entertained and informed while we’ve been cooped up as well. Now things are loosening up and we’re seeing more of these facilities reopening, including Petersen Automotive Museum.

Photo credit: Petersen Automotive Museum

That’s right, starting on Friday, June 19, 2020 the car museum located in Los Angeles, California will open its doors to the public for the first time in months. As you probably already suspect, this reopening will come with social distancing and other measures designed to slow the spread of COVID-19

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Record slump in German car production could put 100,000 jobs at risk

The coronavirus pandemic, which shattered supply chains and forced automotive manufacturers to close their plants for weeks, caused passenger car production in Germany to tank in the first five months of 2020.

Now sluggish demand and slow recovery in global markets is likely to puts tens of thousands of job in the sector at risk in Germany.

According to the German Automotive Industry Association, only 1.18 million cars were produced between January and May this year, a drop of 44%, or nearly a million vehicles from the same period in 2019.

The last time German car production numbers hit such a low was in 1976. Ferdinand Dudenhöffer, director of the Center for Automotive Research in Germany, says his “rather optimistic forecast” shows a decline in car production in Germany by 26% to 3.4 million for 2020.

Dudenhöffer, who also heads the Institute for Customer Insight at the University of St

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Coolest Pace Cars For Sale On Motorious

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Set the pace with these slick cars!

Pace cars have been around since the early 1900s, offering a few functions in the Indy 500 – kicking off a race, leading warm-up laps, and assisting with yellow flag cautions. They were thought up as a way to give a race a rolling start, and became a sensational part of the sport, and auto manufacturers discovered that using a pace car as a promotional model was a great marketing tactic. To celebrate this tradition, we dug into the Motorious inventory to find our favorite pace cars for sale.

2008 Chevrolet Corvette Pace Car

Image Credit: Speed Digital LLC

This pace car is a black and silver Commemorative Edition that marks the 30th Anniversary of the celebrated 1978 pace car, the first Corvette to pace the field at the Indianapolis 500. Chevrolet produced a total

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