Five things you never need to buy new (the savings will blow you away)

Just as the new car you drive off the lot immediately loses half its value — congratulations on the new used car you just purchased — there are plenty of things you can buy secondhand or refurbished. The money you save can be a much-needed infusion to your emergency fund or a boost to an investment account. Laptop luxury for less97 | E+ | Getty ImagesYou can save hundreds of dollars when you buy refurbished electronics, and there’s a lot to choose from. “If you buy from the right place, you wind


Just as the new car you drive off the lot immediately loses half its value — congratulations on the new used car you just purchased — there are plenty of things you can buy secondhand or refurbished. The money you save can be a much-needed infusion to your emergency fund or a boost to an investment account. Laptop luxury for less97 | E+ | Getty ImagesYou can save hundreds of dollars when you buy refurbished electronics, and there’s a lot to choose from. “If you buy from the right place, you wind
Five things you never need to buy new (the savings will blow you away) Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: jill cornfield
Keywords: news, cnbc, companies, things, samsung, buy, savings, cost, car, save, getty, used, raymond, need, phone, away, blow, refurbished


Five things you never need to buy new (the savings will blow you away)

We all need stuff, from cars to laptops to clothes. That doesn’t mean you have to walk into a store and plunk down money for brand new items each time. Just as the new car you drive off the lot immediately loses half its value — congratulations on the new used car you just purchased — there are plenty of things you can buy secondhand or refurbished. Consider rentals for rarely used items. You’re unlikely to purchase 80 chairs and a tent for that backyard wedding. How often would you actually use a punch bowl? Here are five categories of stuff you should definitely not buy new. The money you save can be a much-needed infusion to your emergency fund or a boost to an investment account.

1. Save a bunch on your ride

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New cars are for people who are either really rich or who shrug at the cost and feel it’s worth it. For most people, the savings realized from buying pre-owned (if that sounds nicer to you than “used”) is so substantial as to overcome any hesitation. One strategy: Look at cars that are nearly new, with a late model year and low mileage. “Purchasing a car that’s a few years old and loaded with features can potentially cost less than buying a newer vehicle that only comes with basic features,” said Darren Newberry, senior vice president, store operations at CarMax, the used car retailer. Do your research, narrow the choices and make sure the car is thoroughly inspected. “Avoid vehicles with frame damage, flood damage or salvage history,” Newberry said.

2. Baby on a budget

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3. Laptop luxury for less

97 | E+ | Getty Images

You can save hundreds of dollars when you buy refurbished electronics, and there’s a lot to choose from. “The list [of what’s available] is getting longer,” said Chris Raymond, deputy editor of electronics at Consumer Reports in Yonkers, New York. Apple and Samsung both offer refurbished phones, as well as laptops and computers, on their websites. “Even refurbished headphones,” Raymond said. You can now buy high-end Beats or Bose electronics. “Be careful,” he said. “Not every retailer defines refurbished in the same way.” According to Raymond, Apple and Samsung, for example, will do more than just clean a phone. They’ll actually look at and replace many parts. “You end up with a new battery, new outer casing, new earphones and a new cord,” he said. “If you buy from the right place, you wind up with a phone that looks brand new and operates like a brand new phone.” Pay attention to the warranty, because they vary. “Samsung and Apple give a one-year warranty,” Raymond said. Other places may be only 90 days. The big thing is great prices. A smartphone can run $300 to $500, about half the cost of a premium phone, according to Raymond.

4. A wallet-friendly bottomless closet

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A big event means putting on something you almost never wear and may not even own. Men have rented formalwear for decades, but women now do, too. Rent the Runway has brought the cost of a heart-stoppingly pricey dress down so it’s comparable to a restaurant meal instead of your monthly rent. You can rent a Badgley Mischka evening dress (retail: $935) for $55 to $70, depending on the number of days. The company started with dresses for special events and moved into workday clothing subscriptions. Melanie Hamilton, 40, is sales leader for a large tech firm and a fan of the subscription service for her workday wardrobe, since it means not having to repeat outfits frequently. “I literally buy [only] bags and shoes on my own,” Hamilton said. She estimates her savings at around $1,000 a month since her position requires a polished wardrobe. Other fashion retailers, including Ann Taylor, have also begun offering workwear subscriptions that can cut down the cost of buying new clothes.

5. Before you invest in a hammock …


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: jill cornfield
Keywords: news, cnbc, companies, things, samsung, buy, savings, cost, car, save, getty, used, raymond, need, phone, away, blow, refurbished


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Renault is testing an autonomous shared car service that can be hailed using a smartphone

Renault has commenced a public trial of an autonomous, electric and shared on-demand car service. The trial started Monday and will last until November 8, with roughly 100 people using the service. It will take place on the Paris-Saclay “urban campus” in France and will use the Renault ZOE Cab, a prototype vehicle. Renault is one of many major firms testing autonomous vehicle technology. In September, Daimler Trucks and technology firm Torc Robotics started to test autonomous trucks on public ro


Renault has commenced a public trial of an autonomous, electric and shared on-demand car service. The trial started Monday and will last until November 8, with roughly 100 people using the service. It will take place on the Paris-Saclay “urban campus” in France and will use the Renault ZOE Cab, a prototype vehicle. Renault is one of many major firms testing autonomous vehicle technology. In September, Daimler Trucks and technology firm Torc Robotics started to test autonomous trucks on public ro
Renault is testing an autonomous shared car service that can be hailed using a smartphone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: anmar frangoul
Keywords: news, cnbc, companies, hailed, smartphone, vehicles, torc, renault, shared, trucks, vehicle, service, using, autonomous, testing, test, trial, car


Renault is testing an autonomous shared car service that can be hailed using a smartphone

Renault has commenced a public trial of an autonomous, electric and shared on-demand car service.

The trial started Monday and will last until November 8, with roughly 100 people using the service. It will take place on the Paris-Saclay “urban campus” in France and will use the Renault ZOE Cab, a prototype vehicle. Two vehicles with differing features will be deployed, with passengers able to hail them using a mobile-based app.

The campus hosts several initiatives, including “academic research centers” that belong to Université Paris-Saclay; start-ups; and the private research and development centers of multinational firms.

Renault said the pilot would allow it to “test the technical aspects” of the service, which will run Monday to Friday between 11:00 a.m. and 6:00 p.m.

Monday’s announcement by the autos giant follows last week’s news that it would, together with Waymo and authorities from the Paris Region, be exploring the creation of an “autonomous mobility service” between Roissy-Charles de Gaulle Airport and the business district of La Defense.

Renault is one of many major firms testing autonomous vehicle technology.

In September, Daimler Trucks and technology firm Torc Robotics started to test autonomous trucks on public roads in southwest Virginia. Torc is part of Daimler Trucks following a majority stake acquisition.

At the time, Mike Hawes, the chief executive of the U.K.-based Society of Motor Manufacturers and Traders, told CNBC.com via email that the shift to connected and autonomous vehicles represented “the greatest change to how we travel since the invention of the car.”

“But safety is the number one priority for the automotive industry and self-driving vehicles are still some way off because of the challenges involved with equipping them to handle all possible driving situations,” Hawes added.

Last week, Renault’s board voted to end Thierry Bollore’s brief spell as CEO of Renault. Chief financial officer Clotilde Delbos was handed the role on an interim basis, with Jean-Dominique Senard named as interim president.

According to financial results for the first half of 2019, group revenues amounted to 28.05 billion euros, a drop of 6.4% compared to the previous year.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: anmar frangoul
Keywords: news, cnbc, companies, hailed, smartphone, vehicles, torc, renault, shared, trucks, vehicle, service, using, autonomous, testing, test, trial, car


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Porsche is releasing a cheaper version of its all-electric sports car — take a look

Porsche unveiled the luxury automaker’s first-ever fully electric car in September. The Taycan 4S takes 3.8 seconds to reach 60 mph. Porsche also offers a Taycan Turbo that starts at $150,900 and accelerates from zero to 60 mph in 3 seconds. The electric car can reach a top speed of 155 miles per hour. (The Taycan Turbo and Turbo S both reach top speeds of 161 mph.)


Porsche unveiled the luxury automaker’s first-ever fully electric car in September. The Taycan 4S takes 3.8 seconds to reach 60 mph. Porsche also offers a Taycan Turbo that starts at $150,900 and accelerates from zero to 60 mph in 3 seconds. The electric car can reach a top speed of 155 miles per hour. (The Taycan Turbo and Turbo S both reach top speeds of 161 mph.)
Porsche is releasing a cheaper version of its all-electric sports car — take a look Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: tom huddleston jr
Keywords: news, cnbc, companies, car, mph, taycan, cheaper, electric, porsche, look, zero, starts, releasing, reach, version, allelectric, turbo


Porsche is releasing a cheaper version of its all-electric sports car — take a look

Porsche unveiled the luxury automaker’s first-ever fully electric car in September. Now, a little more than a month later, the German company is offering an even newer and less expensive version of its all-electric sports car — but it will still cost you six figures.

Called the Taycan 4S, the new model revealed on Monday is a sport sedan is capable of up to 522 horsepower. The four-door car comes with a price tag that starts at $103,800.

That’s more than $80,000 cheaper than the most expensive Porsche Taycan, the electric Turbo S, which sports a base price of $185,000 and can accelerate from zero to 60 mph in just 2.6 seconds. The Taycan 4S takes 3.8 seconds to reach 60 mph. Porsche also offers a Taycan Turbo that starts at $150,900 and accelerates from zero to 60 mph in 3 seconds.

Take a look.

The electric car can reach a top speed of 155 miles per hour. (The Taycan Turbo and Turbo S both reach top speeds of 161 mph.)


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: tom huddleston jr
Keywords: news, cnbc, companies, car, mph, taycan, cheaper, electric, porsche, look, zero, starts, releasing, reach, version, allelectric, turbo


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I saved $300,000 by 26—and doing these 5 unusual things helped me save like crazy

The savings from my two jobs had grown to more than $8,000 by the time I left for college. By not staying in hotels (which cost, on average, $135 dollars per night), I’ve been able to save more than $10,000 for all my travels combined. The nice thing about that, however, is that splitting the costs has helped me save a lot of money. Switched jobs without all the ‘right’ qualificationsOne surefire way to save more money is to make more money. While some might be hesitant about switching careers w


The savings from my two jobs had grown to more than $8,000 by the time I left for college. By not staying in hotels (which cost, on average, $135 dollars per night), I’ve been able to save more than $10,000 for all my travels combined. The nice thing about that, however, is that splitting the costs has helped me save a lot of money. Switched jobs without all the ‘right’ qualificationsOne surefire way to save more money is to make more money. While some might be hesitant about switching careers w
I saved $300,000 by 26—and doing these 5 unusual things helped me save like crazy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: jessica byrne
Keywords: news, cnbc, companies, money, partner, average, 26and, unusual, car, 300000, doing, apartment, ive, crazy, didnt, able, things, helped, save, saved, savings


I saved $300,000 by 26—and doing these 5 unusual things helped me save like crazy

When it comes to growing your savings, there are a handful of traditional ways to do it, such as investing in the stock market or in your 401(k). And then there are the more creative strategies, such as dumpster diving, couch surfing for a few months or buying and selling collectible coins. Dumpster diving isn’t really my thing. But I’ve gone to extreme lengths to avoid wasting money, and they ended up paying off significantly: I recently reached my goal of saving $300,000 — all at the age of 26. (The majority of that money has gone into my retirement savings.) This is how I did it.

An early start in my journey to $300,000

I started working as a babysitter when I was 12 until I left for college at 18. My rates climbed from $7 per hour to $12. At 14, I landed my first W-2 job earning minimum wage as a golf coach. The savings from my two jobs had grown to more than $8,000 by the time I left for college. I also worked hard to earn scholarships and chose to go to an in-state school for financial reasons. But that, in addition to the job I took on as a research assistant, didn’t make school that much cheaper. To cover the $21,000 per year tuition, I did have some help from my parents and was able to graduate debt-free, which I consider an enormous privilege. After college, I landed an internship at a biotech company that paid $32 an hour. Then, I moved on to a junior software engineering role that offered a $65,000 salary, along with a $10,000 signing bonus. I immediately started saving a large chunk of my salary, spending only $20,000 per year while living in Portland, Oregon. While investing the rest of my money into retirement funds and stocks was what really pushed me to the $300,000 finish line, I also did many things — that many might consider unconventional or weird — to save like crazy:

1. Stayed in hostels with up to 15 people per room

I love to travel, but it can be expensive. On top of flights, ground transportation and daily excursions, you still have to pay for a place to sleep. One way I was able to bring down the cost of accommodations was to stay in a hostel … which often meant sharing a room with a bunch of strangers. Even though there was always the option to book a private room, I saved hundreds of dollars per trip by sharing rooms with four — and sometimes up to 15 — people. Few are willing to do that, but for me, the most exciting part about traveling is what I’m going to explore during my trip, rather than where I sleep at night. I’ve stayed in hostels in a rainforest in Colombia with my partner and in Budapest while traveling solo. All of them had lockers to store belongings securely and kitchens to cook in (another frugal win!). I also met a lot of interesting travelers who gave great advice about what to do in the local areas. On average, I’d spend less than $30 per night for a bunk. By not staying in hotels (which cost, on average, $135 dollars per night), I’ve been able to save more than $10,000 for all my travels combined.

2. Bought a used car and sold it for profit

According to car-buying site Carfax, a new vehicle loses 20% of its value in the first year, and then another 30% over the next four years. And with the average price of a new car at about $37,000, most new car owners will lose more than $17,000 to depreciation over the first few years after purchasing! That’s why I decided to buy used car, with the intention of selling it later on. Rather than going through a dealership, I negotiated with a private seller I found through an online forum. The total price I paid up front was $12,150 (includes inspection, shipping, registration, title and license plate fees). Two years later, after keeping it in great condition, I listed the car on Craigslist for $13,200. I decided I didn’t really need it and could bike to work instead. A buyer purchased the car for my full asking price, and I earned a $1,050 profit.

3. Shared a 700-square-foot apartment with my partner

For two years, my partner and I had been living in a 1,000-square-foot apartment in Portland, where the average apartment for that size is $1,335 per month, according to Smart Asset. But we eventually realized that we didn’t need all that space (most of our time was spent cooking or lounging in the living room). So when we moved across the coast to Upstate New York, we agreed to downsize to a 700-square-foot, one-bedroom apartment. It isn’t easy to live in such a cramped space, especially with one other person, but we made it work. The nice thing about that, however, is that splitting the costs has helped me save a lot of money. (Even without a partner, I would have gotten a roommate). Overall, I’ve seen a dramatic spike in my savings rate since the move. My current rent is $507 per month (when split with my partner), as opposed to the $930 per month I was paying in Portland.

4. Switched jobs without all the ‘right’ qualifications

One surefire way to save more money is to make more money. I didn’t graduate with a degree in computer science, but I made the switch from mechanical engineering to software engineering. The two aren’t as similar as they might sound; I spent a lot of time teaching myself how to code through learning websites like Leetcode and Hackerrank. I also studied the book “Cracking the Coding Interview” by Gayle Laakmann McDowell. Then, I started a personal project and made a website to showcase my portfolio. It wasn’t easy, but the extra work was worth it. After working as a software engineer for two and a half years, I was able to double my salary from $65,000 to a little more than $130,000. While some might be hesitant about switching careers without the right qualifications, changing industries was critical to my savings growth.

5. Picked up a side hustle


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: jessica byrne
Keywords: news, cnbc, companies, money, partner, average, 26and, unusual, car, 300000, doing, apartment, ive, crazy, didnt, able, things, helped, save, saved, savings


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Dyson scraps its electric car plans

“The Dyson automotive team has developed a fantastic car: they have been ingenious in their approach while remaining faithful to our philosophies,” Dyson wrote in the email. The $2.7 billion originally intended for the electric car project will be spent developing other products for the privately held company, including on battery technology, Dyson said. Dyson originally planned to unveil the electric car in 2020, but last year that was pushed back to 2021 after the company announced it would bu


“The Dyson automotive team has developed a fantastic car: they have been ingenious in their approach while remaining faithful to our philosophies,” Dyson wrote in the email. The $2.7 billion originally intended for the electric car project will be spent developing other products for the privately held company, including on battery technology, Dyson said. Dyson originally planned to unveil the electric car in 2020, but last year that was pushed back to 2021 after the company announced it would bu
Dyson scraps its electric car plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: elijah shama
Keywords: news, cnbc, companies, plans, scraps, project, car, electric, dyson, technology, battery, wrote, email, company, team


Dyson scraps its electric car plans

British appliance maker Dyson has scrapped its plans for an electric vehicle according to a companywide email that said it “simply can no longer see a way to make it commercially viable.”

In the email, which the company provided to CNBC, CEO James Dyson said that he and the board of directors decided to stop the project after failing to find a buyer for it.

“The Dyson automotive team has developed a fantastic car: they have been ingenious in their approach while remaining faithful to our philosophies,” Dyson wrote in the email. “However, though we have tried very hard throughout the development process we simply can no longer see a way to make it commercially viable.”

The $2.7 billion originally intended for the electric car project will be spent developing other products for the privately held company, including on battery technology, Dyson said.

Dyson originally planned to unveil the electric car in 2020, but last year that was pushed back to 2021 after the company announced it would build a manufacturing plant in Singapore.

Plans for that plant have now been canceled, according to a Dyson spokesperson.

The company stressed that the cancellation of the project was not because of a lack of research and development.

“This is not a product failure, or a failure of the team, for whom this news will be hard to hear and digest. Their achievements have been immense – given the enormity and complexity of the project,” Dyson wrote in the email.

Previously Dyson had floated the idea of a whole lineup of vehicles with his name, with the company working on solid-state battery technology for the EV.

In 2015, Dyson underscored his commitment to the project with the purchase of Michigan-based Sakti3, a start-up that was developing a new type of battery known as solid state.

Proponents of the technology said it could offer significant advantages over the more familiar lithium-ion batteries currently in widespread use, by boosting range and reducing charge times. While suited for electric vehicles, the batteries are also effective in the cordless appliances the vacuum maker has been shifting toward.

The company said in the email that it is working to find “alternative roles” within Dyson for “as many of the team as possible” and said it had “sufficient vacancies to absorb most of the people into our Home business.”

Dyson’s electric car project had employed 523 people.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: elijah shama
Keywords: news, cnbc, companies, plans, scraps, project, car, electric, dyson, technology, battery, wrote, email, company, team


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20 surprising things you can buy at Costco

Here’s a look at some of the more surprising items and services Costco offers its members. The club offers members a range of expensive rings, necklaces and earrings, many priced well above $50,000. Before you go to your doctor’s office or local clinic, check to see if your nearby Costco offers the same service at a better price. Costco also provides free hearing aid cleanings and checkups, as well as loss and damage coverage, according to the store’s website. Costco offers members $10 to $50 of


Here’s a look at some of the more surprising items and services Costco offers its members. The club offers members a range of expensive rings, necklaces and earrings, many priced well above $50,000. Before you go to your doctor’s office or local clinic, check to see if your nearby Costco offers the same service at a better price. Costco also provides free hearing aid cleanings and checkups, as well as loss and damage coverage, according to the store’s website. Costco offers members $10 to $50 of
20 surprising things you can buy at Costco Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: megan leonhardt
Keywords: news, cnbc, companies, offers, hearing, free, buy, things, car, members, surprising, including, services, costco, program, wholesale


20 surprising things you can buy at Costco

Costco is one of America’s favorite places to shop, in part, because of the wide variety of goods and services the retailer offers. And by wide variety, we mean that Costco really does stock or ship pretty much everything you could ever need, from basic necessities, such as food and toilet paper, to discount programs for car purchases and vacations. You typically need to purchase a membership to shop at Costco and take advantage of the wholesale club’s offerings, a basic version of which costs $60 a year. More than 94 million members pay the annual fee so they access the chain’s best products and services, so Costco must be doing something right. Here’s a look at some of the more surprising items and services Costco offers its members.

1. Caskets and funeral urns

The average cost of a funeral in the U.S. is about $7,360, according to the National Funeral Directors Association, and the average cost of a casket alone is between $2,000 and $5,000. But Costco has premium caskets starting at about $900, as well as a selection of inexpensive urns for those who choose cremation.

2. Cars and trucks

You can buy or lease your next car through Costco — kind of. The wholesale club has partnered with GM, which includes the Chevrolet, Buick, GMC and Cadillac brands. Members can select eligible vehicles available at a local dealer and get Costco member pricing. And those who purchase or lease a car can get up to a $700 Costco gift card if they complete a survey about their experience.

3. Car rentals

For car rentals, Costco really shines. The wholesale club offers one free additional driver at U.S. locations of Alamo, Avis, Budget and Enterprise for any car rental booked through Costco. Plus, if you make your reservation through the Low Price Finder, you can cancel without any penalty fee.

4. Fine Jewelry

You can buy one-of-a-kind fine jewelry through Costco too. The club offers members a range of expensive rings, necklaces and earrings, many priced well above $50,000. In fact, Costco sold someone a $400,000 ring earlier this year and specializes in engagement rings. For recently engaged couples, it’s worth noting that Costco can provide many of the wedding details as well, including cake, flowers and invitations.

CHICAGO, IL – DECEMBER 12: Motorists purchase gasoline at a Costco store on December 12, 2018 in Chicago, Illinois. Costco is expected to report its fiscal 1Q19 on December 13. (Photo by Scott Olson/Getty Images) Scott Olson | Getty Images News | Getty Images

5. Gas

Costco members can get discounts at the pump, as much as 30 cents off prices offered by competitors. Beyond the savings, Costco’s gas stations are pretty cool. Typically you have to know what side of your car the gas tank is on, but Costco has extra-long hoses that allow you to pump from either side. Plus, Costco gas stations have a “safety‐certified attendant” on‐site in case you need help.

6. Glasses and eye exams

If you need contact lenses or glasses, head to Costco, which provides members with discounts on all of the major brands and frames. Plus, you can get an eye exam right in the store. An eye exam at Costco costs about $75, while frames and lenses run about $126, review site Howard Clark found. Charlene Haugsven, founder of MyFrugalAdventures.com, says that she’s saved a lot on contact lens orders in the past. “Just a couple months ago, I ordered four boxes of contacts from my optometrist and it was $220 — and I would have to wait three weeks for them,” she tells Make It. “I wound up going to Costco and I got them the same day and it was $143 with a $25 rebate. I ended up saving over $100.”

7. Gym memberships

8. Health screenings

Costco offers a lot of discounted health services to its members. Before you go to your doctor’s office or local clinic, check to see if your nearby Costco offers the same service at a better price. A number of Costco locations provide free diabetes, osteoporosis and heart health screenings.

9. Hearing aids

Many Costco locations also have hearing aid services, which can be a great value. The chain offers free hearing tests, according to Consumer Reports, and if you find you do need hearing aids, Costco has competitive prices starting at roughly $1,000 for a set, depending on the brand and specific store. Costco also provides free hearing aid cleanings and checkups, as well as loss and damage coverage, according to the store’s website. Plus, Costco gives a 180-day money-back guarantee, so if you’re having trouble with your hearing aids, you can return them.

People shop for household items at a Costco store in Alhambra, California, on August 19, 2019. FREDERIC J. BROWN | AFP | Getty Images

10. Home renovation supplies

If you’re looking to take on a home renovation project, you should check out the programs and discounts offered by Costco. The retailer has a number of installation services, such as window treatments, flooring, countertops, garage doors and custom closet organization systems. Costco also sells a variety of name-brand appliances, including refrigerators, washers, dryers, stoves and dishwashers. The chain offers a two-year warranty on all of its units, as well delivers, installs and hauls away old appliances for members who purchase from Costco.

11. Identity theft protection

If you’re worried about your identity in the wake of so many major data breaches, Costco has you covered. The retailer offers members the opportunity to sign up for Complete ID, an identity theft protection and credit monitoring service from Experian. Gold and business members can pay $13.99 a month per person to receive a host of services, including social security number monitoring and dark web surveillance. Executive members pay $8.99.

12. Luxury handbags

Instead of heading to your local Michael Kors or Coach boutique, check out Costco for designer purses. Costco offers members $10 to $50 off bags and wallets from some of the top luxury brands, including Coach, Michael Kors, Rebecca Minkoff and Hilary Radley.

13. Mortgages

Costco not only helps with home renovations, the wholesale club also has a mortgage program for members that will help you finance your home purchase. Costco partners with First Choice Loan Services Inc. and other participating lenders to streamline home purchases, as well as refinancing. Costco’s program offers lender fees of $650 or less for gold star members and $350 or less for executive members. Costco also offers veterans loans.

TORONTO, ON: A Costco pharmacy (Toronto Star Archives/Toronto Star via Getty Images) Toronto Star Archives | Toronto Star | Getty Images

14. Prescription drugs

Members can save even more on prescription medication and over-the-counter drugs by enrolling in the Costco Member Prescription Program (CMPP). This program, which is free for members to join, is not insurance, but does provide additional discounts on top of Costco’s already low prices.

15. Oversized teddy bear

FAO Schwarz is not the only store selling giant stuffed animals. Costco sells a massive teddy bear for about $290 that stands at 93 inches, or just under 8 feet. The bear weighs a whopping 50 pounds and is made from a synthetic polyester. The reviews are almost universally positive, with one saying, “He is BIG. Like ‘doesn’t fit in the car’ big.”

A woman holds a teddy bear at Costco’s first outlet in China on August 29, 2019 in Shanghai, China. China News Service | Visual China Group | Getty Images

16. Solar panels

Costco members in 15 states can get residential solar panel systems installed from the wholesale club. They come with a 10% Costco gift card, which brings down the price, and some programs offer members an extended warranty.

17. Tickets to events and theme parks

Looking to do something fun this weekend? Or perhaps you’re heading to Orlando for your next vacation? Check out Costco before booking tickets elsewhere. The wholesale club offers discounted tickets to major theme parks such as Legoland and Universal Studios, as well as Broadway tickets and passes to seasonal events, including haunted houses and food and wine experiences.

18. Tires and auto parts

Costco not only sells and installs tires, but the retailer promises maintenance — including rotation, balancing and flat repairs — over the life of the tire. In addition to car tires, Costco also sells tires for RVs, trailers and ATVs. Right now, Costco is offering $110 off a set of four Michelin tires. Plus, if you take your vehicle in for work through service centers that participate in Costco’s auto program, members save 15% off parts, service and accessories.

19. Vacations

Costco has an extensive travel program for its members, focusing heavily on packaged hotels, cruises and rental cars. Before you say that those types of vacations are not for you, consider that they can offer a really good value. The most valuable part of Costco’s packaged vacation deals may be the extra freebies that it throws in, Pauline Frommer, editorial director of Frommer’s Guidebooks, tells CNBC Make It. These perks can include free breakfasts, activities and resort or shipboard credits. An extra like “kids eat free” could be worth several hundred dollars for a family, depending on the duration of the trip and the destination, Frommer says.

20. Victorian-style greenhouse


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: megan leonhardt
Keywords: news, cnbc, companies, offers, hearing, free, buy, things, car, members, surprising, including, services, costco, program, wholesale


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Review: The Dodge Challenger SRT Hellcat Redeye is a big, brash, intoxicating supercar worth the $90,000

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCIn a straight line, the Challenger is unstoppable. The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCThat accessibility of power is what makes the Redeye special. The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCBecause the Challenger is gigantic, you also get five seats and a big trunk. The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCFirst off, the Redeye is heavy. Final thoughtsThe Dodge Challe


The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCIn a straight line, the Challenger is unstoppable. The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCThat accessibility of power is what makes the Redeye special. The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCBecause the Challenger is gigantic, you also get five seats and a big trunk. The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBCFirst off, the Redeye is heavy. Final thoughtsThe Dodge Challe
Review: The Dodge Challenger SRT Hellcat Redeye is a big, brash, intoxicating supercar worth the $90,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-06  Authors: mack hogan
Keywords: news, cnbc, companies, 2019, mack, review, hellcat, worth, supercar, redeye, brash, dodge, challenger, intoxicating, car, power, srt, hogan


Review: The Dodge Challenger SRT Hellcat Redeye is a big, brash, intoxicating supercar worth the $90,000

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

As General Motors and Ford push to make their muscle cars leaner, meaner and more agile, Fiat Chrysler has taken a different route. To hell with new chassis and lighter weights, the solution is simple: add power. That’s how we got here, to a series-production Dodge Challenger SRT Hellcat Redeye with 797 horsepower. Now that the 840-horsepower, limited-edition Challenger SRT Demon’s production run is over, this is the most powerful Challenger you can get. More to the point, it’s the most powerful muscle car on sale. It’s big, it’s crazy and it’s a ton of fun.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

The good

To put 797 horsepower in context, consider that the $411,300 McLaren 720S Spider supercar we tested produced 87 fewer horsepower than this manic Dodge. The Ford Mustang Bullitt, the quickest ‘Stang you can buy without a Shelby badge, offered 475 horsepower. In fact, the Redeye makes more power than any other production vehicle costing less than $1 million. If you want to top it, you’ll need something with a name like “Bugatti” or “Koenigsegg.” That’s amazing for a car that, even with as many options as our tester, costs $90,040. In fact, at this point, power is far from the limiting factor. As evidenced by the Redeye’s stunning willingness to smoke its rear tires any time the traction control is off, the Challenger has more power than it has grip. In sport mode, the traction and stability control systems will let you slide enough to make you howl with laughter but not enough to end up dead.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

In a straight line, the Challenger is unstoppable. At any speed, in any gear, on any road, you can mat the gas and be rocketing past the speed limit in a moment’s notice. You can reach 60 mph in 3.4 seconds, but that doesn’t convey how quick the Redeye is once it has grip. Above 60, it’s truly a rocketship. You also benefit from the soul-stirring roar of the 6.2-liter V-8 and the devilish whine of its supercharger. With the thunder of its exhaust, the screech of its blower and the squealing of its tires, every drive in the Hellcat Redeye feels like a self-contained theatrical event. Over a week, it never once got old.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

That accessibility of power is what makes the Redeye special. In other cars with this much power, they feel constantly on edge and stiff. The Challenger SRT Hellcat Redeye is, for all its power, still a Dodge coupe. That means if you stay out of sport mode and are gentle on the throttle, it feels like a big comfy American car. You can cruise down the highway, relaxing in huge heated and cooled leather bucket seats without even remembering that you’ve got more power than a Lamborghini Aventador SVJ. Then, one stab of the gas later, and the eight-speed automatic flicks down a few gears and the engine thrusts you back in your seat.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

Because the Challenger is gigantic, you also get five seats and a big trunk. If you can stomach the terrible fuel economy that comes with occasionally unleashing 797 horsepower, you could even use this as your daily driver. Sure it’s a monster muscle car, but it’s got a nice interior, great seats and more than enough space for people and cargo.

The bad

As mentioned, Fiat Chrysler has avoided completely rehauling the Challenger and has instead opted to release faster and faster versions. While that’s a good way to win the horsepower wars, there are compromises.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

First off, the Redeye is heavy. Not for a sports car, but for any car. At 4,436 pounds, the Redeye outweighs even the portliest version of the three-row Honda Pilot family SUV. That’s a lot of heft to throw around in the corners. Like true muscle cars of the 60s, the Redeye can be sloppy and unpredictable on twisty roads. This is a car built for straight-line speed. The weight also doesn’t help fuel economy. The Environmental Protection Agency rates it at 13 miles per gallon in the city and 22 mpg on the highway for a total of 16 mpg combined, but we never saw anything close to that. If you’re ever going to use your 797-horsepower muscle car like, well, a 797-horsepower muscle car, don’t expect to see 22 mpg.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

We should also report that it’s nearly impossible to have fun in this car without eliciting serious dirty looks. With its battleship size and constantly screeching, bellowing and whining symphony of speed, you can’t ever avoid attention if you want to move quickly. Even when parked, its flared fenders and angry nostrils project aggression and insanity like nothing else. And though it’s the most powerful production car you can get under $1 million, it’s still a $90,040 version of a car that starts at under $30,000. So if you prioritize prestige, subtlety or cornering, there are better options.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

How we’d option it

For everyone else, it’s going to be a lot of fun. You can get a Redeye for $71,945, but we’d highly recommend spending $6,000 to upgrade to the Widebody package. Not only do the wide fenders look better, but they allow Dodge to squeeze in larger tires that give you more grip. Based on our experience testing the Widebody, we couldn’t imagine the same amount of power with less grip. Most colors are free, but there are two that cost $69 or $70. There are also a few stripe packages and two wheel options, so style your Challenger as you wish.

The 2019 Dodge Challenger SRT Hellcat Redeye Mack Hogan | CNBC

In terms of features, though, we’d recommend a few. We didn’t love the standard Alpine premium audio system, so we’d option the $1,595 Harman Kardon sound system. You’re going to need a good stereo to overpower the car’s built-in soundtrack. Finally, we’d add the $1,095 Driver Convenience group, mainly for the blind spot monitoring system. Since the Challenger is big and has a low roof, we think this a good safety option. As a whole, our Challenger comes to $82,130 with the destination charge. Cosmetic options will push that up, but Dodge has also been offering some aggressive incentives.

Final thoughts

The Dodge Challenger SRT Hellcat Redeye is big, brash and frankly has no reason to exist. But with its intoxicating power, crazy sounds and supervillain looks, we’re glad it does. It’s not cheap, but it’s the last true muscle car you can buy.

Ratings:

Exterior: 4 Interior: 4 Driving Experience: 4.5 Value: 5 Overall: 4.4 Price as tested: $90,040 *Ratings out of 5.


Company: cnbc, Activity: cnbc, Date: 2019-10-06  Authors: mack hogan
Keywords: news, cnbc, companies, 2019, mack, review, hellcat, worth, supercar, redeye, brash, dodge, challenger, intoxicating, car, power, srt, hogan


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Why a tech war could endanger autonomous and connected cars

If you think the U.S.-China trade war is a problem for smartphones and 5G, spare a thought for autonomous and connected cars. Tech players still believe innovation will solve all problems, but what if “Make America Great Again” trumps tech? The smartphone has emerged as the central connected device and is unlikely to be knocked off its perch by more connected devices. But the biggest connected device in the future, at least by size, will be the car. Imagine a self-driving car with chips and sens


If you think the U.S.-China trade war is a problem for smartphones and 5G, spare a thought for autonomous and connected cars. Tech players still believe innovation will solve all problems, but what if “Make America Great Again” trumps tech? The smartphone has emerged as the central connected device and is unlikely to be knocked off its perch by more connected devices. But the biggest connected device in the future, at least by size, will be the car. Imagine a self-driving car with chips and sens
Why a tech war could endanger autonomous and connected cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: karen tso
Keywords: news, cnbc, companies, security, huawei, smartphones, trade, car, war, cars, incar, ibm, thought, autonomous, endanger, connected, tech


Why a tech war could endanger autonomous and connected cars

If you think the U.S.-China trade war is a problem for smartphones and 5G, spare a thought for autonomous and connected cars.

U.S. bipartisan lawmakers are considering a money pot for small and rural wireless network operators to rip out Huawei and ZTE equipment where there is a security risk. This has promoted Huawei CEO Ren Zhengfei to consider licensing the company’s 5G technology — from hardware to software and chip designs — to a U.S. firm to alleviate security concerns.

The Chinese overture seems logical at least for autos, if roadblocks are to be avoided in the next generation of autos where connectivity will be more important than horsepower.

In-car connectivity requires collaboration but that industry-wide, borderless cooperation is under threat. Even if Beijing and Washington achieve a trade resolution, and that’s questionable with rising heat around impeachment leading up to the presidential race in 2020, then a tech deal is thought to be more elusive. Tech players still believe innovation will solve all problems, but what if “Make America Great Again” trumps tech?

The smartphone has emerged as the central connected device and is unlikely to be knocked off its perch by more connected devices. But the biggest connected device in the future, at least by size, will be the car. Imagine a self-driving car with chips and sensors to safely navigate roads, running on open digital platforms and utilizing smartphones to bring user preferences to a connected car, just like the connected home.

The in-car experience will become king, according to a recent IBM study called Automotive 2030. IBM predicts 15% of new cars sold could be fully autonomous by the end of the next decade, and less time driving will turn the focus to the digital in-car experience.


Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: karen tso
Keywords: news, cnbc, companies, security, huawei, smartphones, trade, car, war, cars, incar, ibm, thought, autonomous, endanger, connected, tech


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Tesla’s Musk says solar panels on cars make little sense, but that’s not stopping Toyota, Hyundai

In August Hyundai released a version of its Sonata HEV with roof solar panels for the South Korean market. Both automakers are debuting solar panels on their electric vehicles to add an additional charge, while auto start-ups are experimenting with even bolder solar panel designs. Now Toyota is trying to take it a step further in their new solar power testing. Hyundai’s Sonata HEV goes the furthestIn August, Hyundai released a version of its Sonata HEV with roof solar panels for the South Korean


In August Hyundai released a version of its Sonata HEV with roof solar panels for the South Korean market. Both automakers are debuting solar panels on their electric vehicles to add an additional charge, while auto start-ups are experimenting with even bolder solar panel designs. Now Toyota is trying to take it a step further in their new solar power testing. Hyundai’s Sonata HEV goes the furthestIn August, Hyundai released a version of its Sonata HEV with roof solar panels for the South Korean
Tesla’s Musk says solar panels on cars make little sense, but that’s not stopping Toyota, Hyundai Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-28  Authors: jacob douglas, nasos koukakis, special to cnbccom
Keywords: news, cnbc, companies, energy, sion, stopping, thats, toyota, car, panels, musk, little, sono, sense, hyundai, vehicle, teslas, power, solar, roof


Tesla's Musk says solar panels on cars make little sense, but that's not stopping Toyota, Hyundai

In August Hyundai released a version of its Sonata HEV with roof solar panels for the South Korean market. Hyundai Motor Group

It sounds like a Utopian concept: drivers being able to power their vehicles simply by leaving them out in the sun. Even tech leaders know their bold visions have been skeptical. In 2017, Tesla CEO Elon Musk called it a fantasy to put solar panels on cars, stating that the surface area available for panels, and the amount of time many cars spend parked in garages, argued against pursuing the design. “The least efficient place to put solar is on the car,” Musk said at the 2017 National Governors Association meeting. That has not stopped Toyota or Hyundai. Both automakers are debuting solar panels on their electric vehicles to add an additional charge, while auto start-ups are experimenting with even bolder solar panel designs. The idea is not entirely new. The 2015 Toyota Prius had a solar panel roof feature that would help power the vehicles’ ventilation system. Now Toyota is trying to take it a step further in their new solar power testing. The company is inspired by new ultrathin solar panels developed by satellites that make them malleable enough to form-fit to the body of a car. “The goal is to utilize efficient power as much as possible,” said Nathan Kokes, Toyota Motors North America Advanced Technology spokesman. “Solar offers a great opportunity to utilize the power of the sun to regenerate batteries.” In July, Toyota teamed up with the New Energy and Industrial Technology Development Organization (NEDO) and Sharp to begin public road trials in Japan for their EVs equipped with high-efficiency solar batteries. The vehicle features solar panels on its hood, roof, rear hatch door and the rear hatch garnish. The combined surface area covered in panels is 9 square feet.

2015 Toyota Prius had a solar panel roof feature that helped power the ventilation system. Now Toyota has begun public road trials in Japan for EVs equipped with high-efficiency solar covering 9 square feet. Toyota

The solar battery boasts an impressive 34% efficiency rating, compared to the average 15% to 20% efficiency rating most solar panels have (the efficiency is the amount of sunlight a solar panel can convert into electricity). Toyota hopes that added efficiency will help them reach their goal of adding 20–29 miles worth of solar energy to the car daily. “When people drive, they’re going to be outside,” Kokes said. “So the beauty of this system is it will actually regenerate while driving. So as long as the sun is shining, you can generate electricity.” Range anxiety — driver fear of an electric car running out of power before a charge is possible — remains one of the barriers to broader EV adoption. Toyota does not disagree with Musk on the basic science or limitations of solar power generation, but argues that any improvement in power is not to be dismissed. “Toyota takes the approach that incremental change or incremental benefit is worth the effort,” Kokes said. “It’s not an all-or-nothing situation. Where I think Elon is coming from, potentially would be it won’t charge enough of the car. But if you’ve got opportunities to make some impact, then it’s worth the effort and continual study.” Kokes would not say whether the technology will be added to a planned production vehicle, or discuss pricing, but he did say Toyota would be evaluating the current test next spring.

Hyundai’s Sonata HEV goes the furthest

In August, Hyundai released a version of its Sonata HEV with roof solar panels for the South Korean market. “It is difficult for [the] solar roof to be popularized even if it develops further, because the solar energy delivered to the car is not much,” Hyundai’s team wrote to CNBC in an email. “However, in terms of auxiliary power, it was applied to the Sonata HEV because of its advantages … which utilize the surplus area of the vehicle to generate power without pollution of fuel consumption.” Much like Toyota’s prototype, the Sonata HEV will use solar energy alongside the power of a 12V (or higher voltage, depending on the model) battery. The solar energy can be used to both help with propulsion as well as power features in the vehicle, such as lights and air-conditioning.

People do all sorts of things for the feel-good factor, and [solar power] is certainly something that anybody can point to and anybody can feel good about. Dan Edmunds director of vehicle evaluation at Edmunds

The big selling point for solar panels on vehicles is the ability to make cars not just consumers of energy, but also producers. With six hours of solar panel-charging daily, it is estimated that up to 800 miles could be added to driver’s travel distance a year. But the benefits of solar panels on cars will depend on a car’s physical situation, said Shannon Baker-Branstetter, manager of cars and energy policy at Consumer Reports. For example, it may be much less attractive for drivers who park in a garage than those who rely on street parking. “Integrating it into the roof like that could have a chance at attracting some consumers,” said Dan Edmunds, director of vehicle evaluation at Edmunds. He believes a car like the Hyundai Sonata HEV with roof solar panels could do well in the U.S. “People do all sorts of things for the feel-good factor, and [solar power] is certainly something that anybody can point to and anybody can feel good about,” he said. The company said the solar panels add approximately $1,075 to the cost of the car. North American car buyers can expect mass production of this Sonata to begin for their market in the first half of 2020, the company said.

Start-ups chasing the solar dream

It isn’t just the big auto manufacturers experimenting with solar energy. In Munich, Sono Motors is working on a solar powered vehicle, the Sion. Sono Motors was founded in 2016 by co-CEOs Laurin Hahn and Jona Christians, as well as creative director Navina Pernsteiner. Hahn and Christians started pursuing their dream of an electric vehicle powered by solar in 2012 after graduating from high school. Sion is the realization of that dream. The car is covered in 248 solar panels, from the hood to the roof and even the doors. Sion’s unique design was created to that no matter where a car is situated it is receiving the maximum amount of solar energy. “It obviously depends on where you are living and where you are driving,” said Mathieu Baudrit, head of research and development for solar integration at Sono Motors. “Even on cloudy days in Munich, you will get more than enough energy.” The company says the Sion will add up to an estimated 3,600 miles a year in driving distance from solar energy, with an average per day travel distance ranging from 3 miles to 14 miles, depending on the season.

Sono Motors’ Sion is covered in 248 solar panels, from the hood, to the roof and even the doors to ensure that no matter where the car is, it can receive the maximum amount of solar energy. Sono Motors

Edmunds, however, is skeptical of the design, even if he believes people will be swayed by it. “The three panels on the side doesn’t seem like a very efficient arrangement,” Edmunds said. “I can see what they are trying to do, but I have a hard time imagining that concept getting off the ground, not for many years.” Edmunds also feels that the Sion’s solar design could be difficult and expensive to repair in the event of an accident. Sion’s solar system is embedded in a polymer, which Sono claims is highly durable and protects the solar cells from minor damage such as scratches. The company also says that the system’s efficiency won’t be compromised as long as a majority of the panels go undamaged in a minor accident, and that you would only have to replace a body panel in the event of a severe crash. Sono Motors declined to provide an estimate for how much a repair after an accident could cost. It is planning to make repair manuals and video instructionals for its cars widely available to make maintenance easier for owners and service providers. Sono Motors says the car has already tallied over 10,000 pre-orders (a minimum deposit of roughly $550, at current euro to dollar exchange rates, is required) at its roughly $28,000 price point. Sono Motors expects production to begin in the second half of 2020. Sono is focusing on European markets and has no current plans of introducing the car to the U.S. Baudrit isn’t worried about Sions collecting dust indoors. “Most people in Europe don’t have a garage or a house,” Baudrit said. “The vehicle is meant to be shared. It should be parked in the street, not in the garage.” The broader business vision for Sion is a shareable experience — sharing rides, cars and the energy itself. Drivers will be able to use a goSono app to share their vehicle’s energy with other Sion owners — essentially making Sion a moving battery. Drivers will be able to plug their Sion into another Sion and take energy from the other vehicle’s battery. “This isn’t just about cost it’s about the autonomy of the people.” Baudrit said.


Company: cnbc, Activity: cnbc, Date: 2019-09-28  Authors: jacob douglas, nasos koukakis, special to cnbccom
Keywords: news, cnbc, companies, energy, sion, stopping, thats, toyota, car, panels, musk, little, sono, sense, hyundai, vehicle, teslas, power, solar, roof


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Alphabet’s Waymo valuation cut 40% by Morgan Stanley to $105 billion amid challenges in self-driving car market

Waymo, Alphabet’s self-driving car division, is taking longer than expected to develop a commercialized product, leading analysts at Morgan Stanley to lower their valuation of the company by 40%. In a report on Thursday, Morgan Stanley cut its valuation on Waymo to $105 billion from $175 billion, based a discounted cash flow analysis. Waymo, formerly Google’s self-driving car project, has made aggressive strides of late, receiving regulatory approvals, improving driving systems and partnering wi


Waymo, Alphabet’s self-driving car division, is taking longer than expected to develop a commercialized product, leading analysts at Morgan Stanley to lower their valuation of the company by 40%. In a report on Thursday, Morgan Stanley cut its valuation on Waymo to $105 billion from $175 billion, based a discounted cash flow analysis. Waymo, formerly Google’s self-driving car project, has made aggressive strides of late, receiving regulatory approvals, improving driving systems and partnering wi
Alphabet’s Waymo valuation cut 40% by Morgan Stanley to $105 billion amid challenges in self-driving car market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: jennifer elias
Keywords: news, cnbc, companies, billion, challenges, cut, lower, morgan, present, waymo, car, stanley, safety, selfdriving, valuation, market


Alphabet's Waymo valuation cut 40% by Morgan Stanley to $105 billion amid challenges in self-driving car market

Waymo, Alphabet’s self-driving car division, is taking longer than expected to develop a commercialized product, leading analysts at Morgan Stanley to lower their valuation of the company by 40%.

In a report on Thursday, Morgan Stanley cut its valuation on Waymo to $105 billion from $175 billion, based a discounted cash flow analysis.

“Over the past year, there have been a series of hurdles relating to the commercialization and advancement of autonomous driving technology,” the analysts wrote. “Most notably, we underestimated how long safety drivers are likely to be present within cars and the timing of the rollout of autonomous rides-sharing services.”

Waymo, formerly Google’s self-driving car project, has made aggressive strides of late, receiving regulatory approvals, improving driving systems and partnering with other auto manufacturers. However, CNBC reported in August that Waymo’s self-driving car efforts still rely heavily on human elements, including having safety drivers present in rides.

Morgan Stanley said the biggest factors in lowering its valuation are that the overall industry is developing more slowly than anticipated and that losses in ridesharing will continue mounting, largely because of the continuing need for safety drivers.

In terms of Alphabet’s current value, Morgan Stanley has a price target of $1,450, which implies a market cap of about $1 trillion. That assessment values Waymo at about $20 billion, “given industry uncertainty and investors’ lower willingness to pay for cash-burning entities.”

WATCH NOW: This Arizona town is overrun with self-driving cars


Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: jennifer elias
Keywords: news, cnbc, companies, billion, challenges, cut, lower, morgan, present, waymo, car, stanley, safety, selfdriving, valuation, market


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