Dealerships

Houston supercar dealer now accepting Dogecoin as payment

Post Oak Motor Cars now accepts Dogecoin and Bitcoin as payment.

Photo courtesy of Post Oak Motor Cars

Post Oak Motor Cars is now accepting dogecoin, a cryptocurrency that recently gained new heights of popularity following support from Tesla founder Elon Musk, as a form of payment. New Bugatti, Bentley, Karma, and Rolls-Royce vehicles are sold at the boutique sales location next to Houston's only five-star hotel, The Post Oak Hotel at Uptown Houston.

This is the second form of cryptocurrency the Houston dealership has accepted. In 2018, Post Oak Motor Cars announced that it would allow customers to pay using bitcoin after integrating cryptocurrency processor Bitpay into its payment system.

Buy Sport, Premium and Luxury cars with Bitcoin from Post Oak Motor Cars.www.youtube.com

Dogecoin was created in 2013 by software engineers from IBM and Adobe. In 2014, the currency briefly passed Bitcoin and all other cryptocurrencies in trading volume. Fast forward to 2020 when a TikTok trend encouraged people to purchase dogecoin in an effort to get the value to $1. By January 2021 Musk, Gene Simmons, Snoop Dogg, and GameStop short squeeze Redditors were all in on the buying binge pushing dogecoin's value to new heights.

In March of this year, Dallas Mavericks owner Mark Cuban announced that the team would allow the public to purchase tickets and products with the digital currency. Within two days, the Mavs had carried out over 20,000 Dogecoin transactions.

Last week, dogecoin's value was up 400 percent week-over-week, hitting an all-time high of $0.46 valuation on April 16. It is currently the fifth-highest valued cryptocurrency and its value is up 6,000 percent year-to-date. According to CNN, the total value of the dogecoins in circulation is nearly $50 billion.

Post Oak Motor Cars is owned by businessman Tilman Fertitta, CEO of Fertitta Entertainment. The billionaire is also the the chairman, CEO, and owner of Landry's, Inc. and owner of the Houston Rockets NBA team. The Rockets online shop currently allows customers to purchase items using Bitpay. Bitpay facilitates transactions for users wishing to complete a purchase using Bitcoin, Dogecoin, and other cryptocurrencies.

Buyers are currently able to buy a Tesla using Bitcoin, but despite Musk's appreciation for the brand faced by a Shiba Inu, dogecoin is not currently accepted as a form of payment.

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The IIHS may increase the speeds it uses to test advanced driver aids.

Insurance Institute for Highway Safety

The Insurance Institute for Highway Safety (IIHS) recently announced that it is considering changing the speeds it uses to test vehicle-to-vehicle front crash prevention systems. The agency currently tests the systems at 12 and 25 mph, but says that the speeds don't accurately represent the types of crashes the safety tech is meant to prevent.

Front crash preventionwww.youtube.com

Automatic emergency braking (AEB) is designed to notify of a possible collision and help respond with automatic application of braking. Just like a human using the brake pedal, it can stop the car, but higher speeds make it difficult to stop in time. The new tests would be conducted at 35 to 45 mph, which is the range where a large number of rear-end crashes occur. As Automotive News noted, an IIHS study showed 43 percent of rear-end crashes occur at speeds of 45 mph or less, so it's important to have a test that shows how well the tech performs at those levels.

A whopping 85 percent of 2022 vehicles earned a "Superior" rating in the current testing regime, so the IIHS will remove it from 2023 testing and Top Safety Pick award evaluations. Their view is that, since the majority of vehicles meet the criteria, it's no longer an accurate way of evaluating performance. In its place, the agency introduced a night test for automatic emergency braking systems that will begin next year.

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New luxury EV

Lexus announces all-electric RZ 450e

Lexus just announced the new RZ 450e

Lexus

Lexus and Toyota have finally jumped onto the EV train, and we’ll soon see new all-electric SUVs from both. The Lexus variant, named RZ 450e, features a reasonable range, upscale interior, and neat all-wheel drive technology. We don’t have firm pricing for the Lexus, but expect it to start in the mid-to-high $40,000 range.

2023 Lexus RZRange is expected to reach 225 miles per chage. Lexus

The RZ shares a platform and much of its underlying engineering with the Toyota bZ4X and Subaru Solterra, but will take a more upscale approach. Though its size and overall shape are similar to the others, the Lexus’ exterior styling is sharper and sportier, with functional aerodynamic bodywork. A new Lexus logo is spelled out on the rear gate, instead of the traditional “L” of previous models.

The SUV comes with a 71.4-kWh battery that should deliver a range of around 225 miles on a charge. All-wheel drive is standard, and uses the RZ’s dual electric motors to shift power between the wheels that need it most.

Inside, the RZ features a minimalist, open space with controls meant to remind drivers of a horse’s reins. Ultrasuede upholstery and woodgrain trim come standard. Lexus notes the RZ’s head-up display is controllable via steering wheel-mounted buttons that handle navigation, audio, and other functions.

2023 Lexus RZThough similar to the Toyota bZ4X inside, the Lexus IS more upscale and minimalist. Lexus

Speaking of the steering wheel, the first RZs will be available with a round wheel only, but later on, Lexus will offer a yoke-style wheel like the one seen in the Toyota bZ4X concept and Tesla’s Plaid models.

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