The number of new homes sold in a month just dropped the most in 2 years as rising mortgage rates rip into the housing market

New-home sales slowed through June to an annual pace of 590,000 units, the US Census Bureau said. June’s number was the lowest since April 2020.  Fewer Americans are buying homes a mortgage rate hikes make it even more expensive. Housing costs are still rising — and it’s causing less Americans to buy homes. US new…

Volkswagen begins ID.4 electric vehicle production in the US

Volkswagen has begun producing its all-electric ID.4 crossover SUV in the United States. The automaker announced on Tuesday that it plans to scale production of the ID.4 at its Chattanooga, Tennessee factory to 7,000 vehicles per month by the end of 2022 before further increasing output throughout 2023. According to Volkswagen, customers can expect deliveries…