Tough time for dealers seeking inventory as wholesale values soar

With a decision expected within a few weeks, the Austin-versus-Tulsa contest is heating up as Tesla and its CEO, Elon Musk, stoke a bidding war over tax breaks and other concessions that would reduce the factory's cost.

The remarkable payout follows an equally remarkable ride for Tesla, whose shares have more than quadrupled this year and ballooned Musk’s net worth to $70.5 billion.

The alliance combines the sector’s most-popular plug-in model -- the Tesla Model 3 -- with low-cost batteries in a market that last year bought more than three electric vehicles for every one sold in the U.S.

The proceeds are expected to be used to bring the company's first product, the Fisker Ocean, to production in late 2022.

Labor representatives said discussions over job cuts had become "rougher" as the automaker struggles with weaker sales and higher investments.

Christian Senger will be replaced after clashes with the company and concerns about software problems with the ID3 full-electric compact and the eighth-generation of the Golf, German newspaper Handelsblatt reported.

The crossover, just launched in March, is now priced from $51,190, including destination charges, down nearly 6 percent from a previous price of $54,190, becoming the fourth Tesla model to undergo a price cut in three months.

U.S. auto sales rebounded in May and June, but not enough to overcome abysmal results in March and April. Here’s how the first 6 months of 2020 compare with last year.

Conquest opportunities may be slim, but the few brands still selling minivans are working to stand out with bolder styling, hybrid engines and all-wheel-drive capability.

The Japanese automaker is readying its most advanced automated driving system yet for the refreshed Lexus LS later this year, as it chases rivals with automated passing function for highway driving.