Technology

The year-over-year average price of a used Class 8 vehicle fell for the 13th consecutive month in May. Sales at retail outlets held up, while inventories headed down because there was no deluge of equipment flooding the market as a casualty of the COVID-19 pandemic, ACT Research reported.

Tesla Inc.’s new Shanghai plant has churned out super-popular Model 3 electric sedans for the past six months, catapulting the company atop the sales chart and piling the pressure on cash-strapped local rivals. There was another casualty last week.

Daimler AG CEO Ola Kallenius will widen cost cuts to shore up returns, even as the German manufacturer signaled demand for cars and trucks has started to recover from the most dramatic slump in decades.

Walmart Inc. will introduce a subscription service this month to compete with Amazon.com Inc.’s Prime program, according to a person familiar with the plans.

Morgan Stanley analysts lifted their bull-case price target for Tesla Inc. to $2,070 after an “extraordinary” rally saw the stock overshoot a previous best-case scenario of $1,200. But they still don’t recommend buying Tesla shares.

The market gloom over the metals that will power the cars of the future is starting to lift.

The Federal Highway Administration recently announced the availability of $60 million in grant funding for groups working on projects that involve transportation technologies.

Despite facing business challenges and economic uncertainty, some trucking companies have continued to move forward with technology investments during the COVID-19 outbreak.

Uber Technologies Inc. agreed to buy Postmates Inc. for $2.65 billion to expand in food delivery after the coronavirus pandemic cratered demand for ride-hailing, its main business, and an earlier attempt to acquire Grubhub foundered.

A $1.5 trillion infrastructure package advanced by the U.S. House of Representatives on July 1 will never be enacted into law, said the top Republican on the chamber’s transportation panel.