Latest news with #affordablevehicles
TechCrunch
08-07-2025
- Automotive
- TechCrunch
Why this LA-based VC firm was an early investor in Slate Auto
Slate Auto, which came out of stealth mode earlier this year with a surprising – and surprisingly affordable – customizable electric truck, has raised $700 million to date. But long before the EV startup broke cover, it quietly raised a Series A round of more than $100 million in 2023. And while Jeff Bezos was involved in that round, as TechCrunch originally reported, he was not alone. A regulatory filing submitted to the Securities and Exchange Commission shows as many as 16 investors were involved. Slauson & Co., a Los Angeles venture firm that launched five years ago, is one of the few investors in Slate's Series A to speak publicly about why they backed the company. Slauson & Co. partner Ajay Relan told TechCrunch in an exclusive interview his firm is well aware of the many EV startup bankruptcies that have occurred in recent years, as well as the headwinds coming from the Trump administration for anything green energy-related. Regardless, Relan said he and his partner Austin Clements believe in the startup's mission of providing 'more affordable, reliable, and customizable vehicles that are domestically manufactured.' Relan and Clements started Slauson & Co. in 2020. Friends since high school, they both grew up off of Slauson Avenue in South Central Los Angeles, which Relan wryly categorized as being 'not necessarily known for its tech and venture capital innovation.' 'But it definitely is a source of cultural capital that gets repackaged and distributed to more developed areas and other parts of the world,' Relan said. Slauson & Co.'s mission is to bridge the gap between those two worlds by funding and empowering people who have 'historically just not had their perspective represented in the innovation economy.' Techcrunch event Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Relan said they got turned on to Slate by Jeff Wilkie, the former Amazon consumer division CEO who co-founded Re:Build Manufacturing, an incubator that Slate spun out of. Wilkie, who Relan has known since before founding Slauson & Co, first introduced them to the secretive project in 2023. Relan admits investing in an EV startup is a bit outside of his firm's 'primary themes.' But the duo was intrigued by Slate's mission to make a more affordable and approachable car. He was sold on the venture after Wilkie introduced Slauson & Co. to the Slate team. The startup was still just a few dozen people in early 2023. But those people had decades of experience in the automotive industry. CEO Chris Barman spent more than 20 years at Chrysler, running vehicle line programs, leading the Android Automotive integration, and even collaborating with Waymo. Chairman Rodney Copes and chief financial officer Ryan Green spent years at Harley-Davidson and Rivian. Barman particularly impressed the Slauson & Co. partners. 'She has great vision. She has a great reputation within the company she's worked for before,' Clements said. 'She's no frills, not about the hype. She's really about delivering.' Clements said he and Relan also rely heavily on taste when it comes to early-stage investing. 'Do we think that this is something that resonates with what people are looking for at this point?' he said. 'The idea that there are no affordable cars, particularly for young people, but really for everybody, and just the mismatch between affordability of vehicles and what's available just didn't make sense.' Slate's truck won't hit the market until late 2026, but Relan and Clements already have a little validation that their eye for taste was spot on with Slate: The company passed 100,000 refundable reservations in just two weeks. Of course, it doesn't hurt to be standing alongside some serious financial and industrial firepower. Not only did Bezos invest in that initial funding round, but Slate also courted big money from Los Angeles Dodgers owner Mark Walter as well as VC firm General Catalyst. ('The partners they were able to bring along for the journey before and after us were icing on the cake,' Reman said in an email.) Those backers have helped fill Slate's coffers to the tune of around $700 million, and the company told TechCrunch that it's already started on a Series C funding round. Slauson & Co. also invested in the Series B; the firm declined to share how much it has invested in Slate to date. This combination – the Slate team, the major backers, and the opportunity at the entry level of the car market – left Relan and Clements believing their investment can generate a good return, even in the notoriously low-margin auto business. 'We have to have some deep conviction that this is something that could drive very real returns in the fund,' Clements said, before adding with a laugh: 'You know, we're not just a purely philanthropic organization.'
Motor 1
24-06-2025
- Automotive
- Motor 1
‘That Honda Fit Sounds Like the One:' Used Car Salesman Picks His Top 6 Vehicles Under $4,000. But How Reliable Are They?
You're broke. It's hot. Uber is expensive. Your current ride smells like despair and ketchup packets. But you can't afford a new car, so you have no choice but to climb into the cloud of rancid french fry grease and hit the road. Or is there another way? Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Used car dealer Kellen Lake (@kellenlake) says that you actually can afford a new vehicle. You don't need a loan, either, Lake says: You need a Toyota Camry with 200,000 miles. While walking the grounds of a North Carolina-based used car dealership, Lake offers viewers some low-budget options from Chevrolet, Toyota, and Volvo that can be purchased for less than $4,000. A cheeky text overlay on his post says, 'Cars under $4K that'll outlive your last relationship.' Lake points at a 2008 Chevrolet Impala with 65 service records, joking, 'That's more maintenance than your ex got in therapy. No accidents. Just pure vibes." Lake describes a gold Volvo XC70 thusly: 'If IKEA made tanks, this would be it.' He says a 2007 Honda Fit with 53 service records 'sips gas like your aunt sips boxed wine: Cheap and consistent.' With new car prices averaging over $47,000 and even older used vehicles fetching record highs post-COVID, the idea of a reliable beater has gone from punchline to holy grail. According to Lake, you don't have to break the bank to get a reliable used car on the cheap. You just need to do your homework. Selling Cars One TikTok at a Time Trending Now 'All I Get Is Old Men:' Man Buys Classic Chevrolet to Get Attention From Women. It Backfires 'Making It Personal:' Man Buys 'Lemon' Ford F-150 From Used Car Dealership. Then He Decides to Get a Custom Wrap and Warn Buyers Lake told Motor1 over the phone that he used to run a personal training studio and make daily videos about fitness. Now that he sells used cars, the subject matter has changed, but the strategy hasn't: make people laugh, teach them something useful, and earn their trust before you try to make a deal. 'It's not about making a quick sale,' he said. 'It's about building trust. If they know, like, and trust you, they'll come to you when they're ready.' Now the general manager at New Era Motors in Winston-Salem and a co-owner of Oak Auto NC in Kernersville, North Carolina, he still treats content like a long game. Every video—whether it's a rundown of sub-$4,000 cars or a walkaround of a recent auction pickup—is part of a larger effort to build a brand people actually believe in. 'I'm never going to say I post a video and something sells the next day,' he said. 'Has that happened? Sure. But that's only because I've been posting organic content every day since 2017.' What He's Actually Selling—and Why It Matters The cars in Lake's viral TikTok aren't sleek. They're not rare. And they're definitely not going to make anyone jealous at a stoplight. But they'll get you from point A to point B. The Toyota Camry is well-known for being a reliable vehicle, even with high mileage. The same is true of the 2007 Honda Fit . The Volvo XC70 has purportedly had some lesser years, but is also generally considered a dependable vehicle. Some 2008 Chevy Impala owners have complained about its reliability, but overall, it has a rather high rating of 4.5 out of 5 stars in this category on Kelley Blue Book . The Hyundai Sonata Lake highlights is also generally seen as a reliable vehicle, though there have been complaints about engine seizing, and some years are considered lesser than others. Subaru Foresters have been described as somewhat more "finicky" than the straightforward Honda or Toyota, but the brand is also widely known for its reliability. All the cars Lake highlights in the post share the same profile: Under $4,000, clean titles, long service histories, and a reputation for being mechanically sound, even if they're visually uninspiring. For Lake, that's a feature, not a bug 'Not exciting, but neither is walking,' he jokes in the TikTok. Buying Advice When asked what advice he'd give someone looking for a vehicle under $4,000, Lake doesn't hesitate. 'First, check the tires. Then the trunk. Then pop the hood and look for stop leak,' he said of a fix for minor leaks in gaskets, seals, or radiators. He says that before buying, you should also look at: Coolant reservoir—look for white gunk or a blackened reservoir, as both suggest engine wear or quick-fix additives like stop leak; Check the oil—low levels, moisture, or signs of neglect are red flags; and Look under the hood—moisture around the engine might indicate head gasket problems. He emphasizes that buyers should still test drive the vehicle and get a feel for how it sounds and handles. But more than anything, he values service records, noting that older cars with 40 or more service records show some real care was taken. Then comes his secret weapon: An OBD-II scanner. 'They're cheap. Plug it in, get the codes, and then copy/paste them into ChatGPT,' he says. He recommends asking the artificial intelligence to provide repair scenarios, cost ranges, and parts estimates based on the vehicle's year and make. 'It gives you a really good idea of what you're possibly getting into,' Lake says. More From Motor1 'Not Having Wireless CarPlay in a $30K Car Is Kinda Crazy,' Says Honda Civic Driver. Then He Finds a Workaround 'Can't I Just Use Carfax?' Man Lists His Car for Sale on Facebook Marketplace. Then He Spends $60 on a Vehicle History Report Used Car Prices Are Spiking, Except For EVs Yes, You Should Use Fuel Detergent. Your Engine Will Thank you Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Auto Blog
16-06-2025
- Automotive
- Auto Blog
Hyundai Venue vs Kia Soul: Low Price, Quirky Style
The Hyundai Venue and Kia Soul are utilitarian, economical, and very affordable vehicles packed with goodness, but one outshines the other. Two competing siblings Hyundai and Kia are part of the same company, and one would think that all of their offerings would share components. That may be true for many of their vehicles, but the Hyundai Venue and Kia Soul share very few, which is odd considering they both compete in the same market with similar pricing. They represent some of the most affordably priced vehicles available, and next to the Nissan Versa, they both give you a decent car for the money. There's good tech, lots of safety goodies, and excellent efficiency. Previous Pause Next Unmute 0:00 / 0:09 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More The automakers call these vehicles 'SUVs' or 'crossovers,' but in truth, they are both tall hatchbacks. Neither vehicle offers all-wheel drive (AWD), and they lack the ground clearance, underpinnings, and capability to perform in the rough. At best, they might be able to scamper over a dirt road with a few small ruts. With that being said, their tall-ish platforms make for a very comfortable place to park a human's backside. This may be why these tall configurations are so popular for many: they are easy to enter and exit. So, which one is best for you? Kia Soul – $20,490 MSRP 2025 Kia Soul The Kia Soul has been in production since the 2010 model year, and can trace its genesis back to its debut at the 2008 Paris Auto Show. At the time, there were quite a few cube-shaped vehicles competing in the United States, including the Honda Element, Scion xB, and the Nissan Cube. Out of all those vehicles, the Kia Soul managed to crawl to the top and has remained a fixture for the automaker. The rest have vanished. The 2025 Kia Soul comes with a 2.0-liter, 4-cylinder engine that sends 147 hp and 132 lb-ft of torque to the front wheels via a continuously variable transmission (CVT). Gone are the days of optional turbocharged engines and manual transmissions. It's important to note that the EX gets 29 mpg city and 35 mpg highway, which is about 2 mpg better than the other trims, which weigh more. The Kia Soul weighs just under 3,000 lbs, and its best 0 to 60 mph times have been noted at just over 8 seconds. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The Kia Soul comes in four trims: the LX ($20,490), S ($22,990), GT-line ($24,00), and the EX ($24,790). The base model LX comes with an 8-inch touchscreen, with an optional 10.25-inch upgrade. Apple CarPlay and Android Auto come standard. It's important to note that Kia may be killing off the Soul after the 2025 model year, which means dealerships may be anxious to move them rapidly. Since the 2025 Kia Soul uses the bigger Hyundai/Kia K3 platform, it has 101 cu-ft of passenger volume, with 24 cu-ft of cargo space behind the back seat, and a maximum of 62.1 cu-ft of cargo space with the seats folded. Hyundai Venue – $20,200 MSRP 2025 Hyundai Venue The Hyundai Venue is based on the Hyundai/Kia K2 platform, which is shared with the Hyundai Accent. As such, it's a smaller, more compact vehicle altogether. Oddly, Hyundai introduced the Venue in Australia, with the Outback as a backdrop, which is a bit optimistic for a vehicle like this. If it were tooling around Sydney, that would be a different story, as it is a great little commuter. Hyundai's Venue comes with a 1.6-liter, 4-cylinder engine that makes 121 hp and 113 lb-ft of torque. Like the Soul, it no longer offers a manual transmission, and the only way you get one is with a CVT providing power to the front wheels. The Venue gets an EPA-estimated 29 mpg city and 33 mpg highway. Weighing between 2,600 – 2,800 lbs, the fastest noted 0 to 60 mph times have been listed at just under 9 seconds. There are three trim levels available for the 2025 Hyundai Venue: the S ($20,200), the SEL ($22,200), and the Limited ($23,450). An 8-inch touchscreen comes standard, along with wireless Apple CarPlay and Android Auto. Hyundai sold just under 25,000 Venues in the United States in 2024, which is less than half the 52,000 Kia Souls sold at the same time. Despite this, Hyundai is sticking with the Venue, and we're expecting to see a new model soon. Given its smaller platform, the Venue has a total passenger volume of 91.9 cubic feet, as well as 18.7 cubic feet of cargo space behind the rear seats, with a maximum of 31.9 cubic feet of space with the seats folded. Keep in mind that this is a very small vehicle that's about five inches shorter in length than the Kia Soul. The Kia Soul is the clear winner here I've driven both of these, and the Kia Soul is a better driving vehicle. Materials inside are a bit of a bargain-discount for both vehicles, but I think the Soul has a bit more character inside and out. They both have decent seat comfort up front, and their back seats are surprisingly comfortable for average-sized adults as well. Either vehicle would be an ideal first car or a small family vehicle, but the edge goes to the Kia Soul. Around town, that extra horsepower in the Soul is handy, but it's especially welcome on the highway, where having extra passing power is very important. The Soul is far more adept at higher performance driving while providing better mpg. I also find the Kia's platform to be a bit more responsive around corners and for tight maneuvering. Its only issue for some might be the fact that it's a little larger than the Venue. Even so, in nearly every measurable way, the Kia Soul is a more logical choice. It is about $200 more for the base model, but I think that's surmountable even for economy-minded buyers. Final thoughts There's nothing wrong with the Hyundai Venue. It's a fine little runabout that has good utility for something so small. Still, for nearly the same price, the 2025 Kia Soul gives you better power, performance, economy, room, and a bit of character, too. It's kind of a shame that it looks like it's going away, considering its value and character.
Yahoo
01-06-2025
- Automotive
- Yahoo
4 Reliable Car Models the Middle Class Can Still Afford
It can be tough to afford a vehicle during normal times. Now, with concerns about tariffs and general auto rising costs on the minds of many drivers, this can feel like a terrible time to buy a car or truck. Trending Now: Check Out: However, several well-known and trusted models still offer reliability and affordability for middle-class drivers. Some auto experts shared with GOBankingRates their picks for vehicles that fit the bill. While the details below are for 2025 models, it may be helpful to shop around for some previous years to find lower prices. The pricing and J.D. Power reliability information comes from U.S. News & World Report. MSRP: $28,700 to $36,425 Reliability: 86 It may be no surprise to see the popular Toyota Camry on the top of this list for reliable vehicle models still affordable for the middle class. 'Toyota's reliability plus lower operating costs keep this a top midsize sedan choice,' said Zach Shefska, CEO and co-founder of CarEdge. Be Aware: MSRP: $30,100 to $36,500 Reliability: 84 According to Shefska, 'This is a longtime family favorite. Spacious, durable and efficient, with hybrid and turbo options that offer longevity and value.' MSRP: $36,390 to $53,685 Reliability: 86 'The Telluride is among the reliable models with plush extras you'll find in larger and more expensive vehicles,' said Chris Pyle, an auto expert from JustAnswer. 'It's very well built and rarely visits the shop for power and drive train issues.' MSRP: $26,995 to $40,750 Reliability: 85 'Tariffs have jacked up stickers across the board, yet bread-and-butter picks like the Maverick are still squarely in middle-class territory,' said Sinduja Rangarajan, data storytelling lead for Jerry. 'More than 70% of their parts are made in North America, so these cars see only about a 6% price bump instead of the full 25% import tax. That homegrown parts pipeline also mutes future insurance cost spikes.' More From GOBankingRates 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years This article originally appeared on 4 Reliable Car Models the Middle Class Can Still Afford
