02/22/24 - 2025 Mazda CX-70 arrives in spring 🚗, Lotus SPAC merger to list under 'LOT' this week 🏭, Car depreciation explained💡

GM. Rev up your day with the latest automotive news and insights delivered to your inbox in our exclusive newsletter! What we cover in today’s edition:

• 🚗 Car reveal/review: 

  • 2025 Mazda CX-70 arrives in spring

  • The 2024 Jeep Gladiator Is $1,095 Cheaper Than Before

  • Spending $625,000 On Centennial Edition GT500CR Mustang Helps Save Lives

• 🏭 Industry trend: Lotus SPAC merger to list under 'LOT' stock ticker this week, Rivian says it is laying off 10 percent of its workforce as EV woes deepen, Stellantis Suggests Building Leapmotor EVs In America With Chinese Components

• 🤖 Auto Tech: Hivemapper reveals new Bee dashcam as its latest weapon against Google's map dominance

• 😄 Fun read: Car depreciation explained: future residual values and how they’re calculated

2025 Mazda CX-70 arrives in spring, starts at $41,820 (2 mins read)

The 2025 Mazda CX-70, starting at $41,820, will debut in the U.S. this spring with a 3.3 Turbo engine, 280 hp, and 332 lb-ft of torque. Higher trims, including a 340 hp variant, arrive in the fall. Additionally, a plug-in hybrid version offers 323 hp, starting at $55,775, with an estimated 26 miles of electric range. Features include a 12.3-inch display and Amazon Alexa integration. Read more.

The 2024 Jeep Gladiator Is $1,095 Cheaper Than Before (2 mins read)

The 2024 Jeep Gladiator receives design updates, more airbags, and a cheaper starting price, now $39,790 for the Sport trim. Seven trims are offered, with the mid-range Freedom and top-tier High Altitude discontinued. New Mojave X and Rubicon X variants add luxury features for $10,000 extra. Standard features include Nappa leather seats and a 12.3-inch infotainment screen. Powertrain remains the same, starting at $39,790. Read more.

Spending $625,000 On Centennial Edition GT500CR Mustang Helps Save Lives (4 mins read)

Classic Recreations introduces the limited-edition Centennial Carbon Fiber Shelby GT500CR, with only 10 units available at $625,000 each. Powered by an 800-horsepower 5.0-liter Coyote V8, it reaches 0-60 mph in 3.2 seconds. The carbon fiber body reduces weight to 3,200 lbs. Read more.

Lotus SPAC merger to list under 'LOT' stock ticker this week (2 mins read)

Lotus Technology's merger with SPAC L Catterton Asia Acquisition Corp nears completion, with trading on Nasdaq expected this week under the ticker "LOT." Owned by Zhejiang Geely Holding Group, Lotus focuses on electric hypercars. The merger, scheduled for February 22, 2024, will raise over $880 million. Read more.

Rivian says it is laying off 10 percent of its workforce as EV woes deepen (3 mins read)

Rivian announces a 10% layoff amid slower EV sales, expecting to produce 57,000 vehicles in 2024, matching 2023's output. The layoffs affect mainly salaried employees, totaling over a thousand in Irvine, California. CEO cites economic challenges and plans cost reduction. Rivian unveils R2 compact SUV next month, aiming to attract more customers with a lower price range. Read more.

Stellantis Suggests Building Leapmotor EVs In America With Chinese Components (3 mins read)

Stellantis considers producing affordable electric vehicles with Leapmotor technology to compete with Chinese brands. CEO suggests potential manufacturing locations in Europe or North America. Western automakers face pressure due to Chinese EVs' lower production costs, potentially leading to collaboration. However, concerns arise over potential impacts on the EV market and trade agreements with Mexico under the threat of inexpensive Chinese EV imports. Read more.

Hivemapper reveals new Bee dashcam as its latest weapon against Google's map dominance (5 mins read)

Hivemapper unveils Bee dashcam, aiming to revolutionize mapping with hands-off approach and 4K recording. Preorders start with LTE version at $549 and Wi-Fi at $449. Plans for third-quarter shipping. Hivemapper emphasizes frequency of mapping updates and introduces Scout tool for location monitoring. Compensation in Honey tokens offered to contributors. CEO Tavares aims to challenge Google's dominance in mapping. Read more.

Car depreciation explained: future residual values and how they’re calculated (16 mins read)

This article discusses the multifaceted dynamics of car depreciation, revealing its significant impact on vehicle value. With insights into factors like make, model, and mileage, it delves into how cars can lose up to 35% of their value in the first year alone, providing strategies to mitigate losses. Read more.