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Penske Automotive's Q1 net rises 3.5% on acquisitions, U.K.

Penske Automotive's first-quarter net income rose 3.5 percent from a year earlier, as acquisitions and strong sales at its U.K. dealerships pushed revenue to a record for the quarter.

| UPDATED: 4/26/17 11:13 am ET - adds background
Tesla dinged by Consumer Reports for not implementing safety feature

Tesla vehicles have dropped in Consumer Reports' ratings because the automaker failed to implement a safety feature that was expected to come standard.

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Sent early Monday mornings, this newsletter contains a summary of key stories from our weekly edition.


Oil powerhouse Total predicts a boom in EV sales

Electric cars are coming fast -- and that's not just the opinion of carmakers anymore. Total, one of the world's biggest oil producers, is now saying EVs may constitute almost a third of new-car sales by the end of the next decade.

LETTER TO THE EDITOR
There are reasons for Tesla valuation

Tesla's year-to-date sales are up double digits and outpacing the industry, and comScore data show demand for Tesla is outstripping supply.

COMMENTARY: Keith Crain
Time to pull the plug on EV subsidies

With the federal deficit looming high and just about everyone joining the EV marketing blitz, it is time to remove the monetary incentive for buying an electric car.

GUEST COMMENTARY: Brian Lakamp
Convenient, compelling EV charging

Anyone paying attention to mainstream news should notice a steady, growing stream of headlines about electric vehicles and EV charging. The space is accelerating in anticipation of the coming marketplace.

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