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Found 12 results

  1. Ask Peter Welch, the CEO of the National Automobile Dealers Association (NADA) what worries him the most, he'll admit that it is average consumers getting priced out of new cars. He admitted this yesterday at the Automotive News World Congress in Detroit. Welch said that the latest figures he has seen - through October of last year - reveal the average retail price of a new car climbing to a new high of $35,366. The average monthly payment is hovering at $538, and interest rates have climbed to an average of 5.76 percent (new) and 9 percent (used). Longer loan terms are becoming common, w
  2. Ask Peter Welch, the CEO of the National Automobile Dealers Association (NADA) what worries him the most, he'll admit that it is average consumers getting priced out of new cars. He admitted this yesterday at the Automotive News World Congress in Detroit. Welch said that the latest figures he has seen - through October of last year - reveal the average retail price of a new car climbing to a new high of $35,366. The average monthly payment is hovering at $538, and interest rates have climbed to an average of 5.76 percent (new) and 9 percent (used). Longer loan terms are becoming common, w
  3. Towards the end of Obama presidency, the administration unveiled guidelines for testing and deployment of self-driving cars in the US. But there is a new presidency in the White House and that means things will be changing - although details are scarce as to how. U.S. Transportation Secretary Elaine Chao said in Detroit yesterday the Department of Transportation would revisit and revise the guidelines put forth by the previous administration within the next few months. "The pressure is mounting for the federal government to do something" about autonomous vehicles, said Chao. "We
  4. Towards the end of Obama presidency, the administration unveiled guidelines for testing and deployment of self-driving cars in the US. But there is a new presidency in the White House and that means things will be changing - although details are scarce as to how. U.S. Transportation Secretary Elaine Chao said in Detroit yesterday the Department of Transportation would revisit and revise the guidelines put forth by the previous administration within the next few months. "The pressure is mounting for the federal government to do something" about autonomous vehicles, said Chao. "We
  5. While Americans are keeping their cars longer (Experian Automotive says the average ownership length is now 7.75 years), there are some models that owners can't wait to get rid off within a year of buying. iSeeCars.com recently compared new car sales against used-car purchases in 2014 to figure out which vehicles were traded-in the fastest. Their analysis showed that on average, around 2.7 percent of all new vehicles are traded in after only a year’s ownership. More surprising was the vehicles that had the highest amount of trade-ins. The expectation would be that the vehicles with the highes
  6. While Americans are keeping their cars longer (Experian Automotive says the average ownership length is now 7.75 years), there are some models that owners can't wait to get rid off within a year of buying. iSeeCars.com recently compared new car sales against used-car purchases in 2014 to figure out which vehicles were traded-in the fastest. Their analysis showed that on average, around 2.7 percent of all new vehicles are traded in after only a year’s ownership. More surprising was the vehicles that had the highest amount of trade-ins. The expectation would be that the vehicles with the highes
  7. 2014 will likely go down as the year of the recall in the automotive industry. General Motors is the champion with the most recalls so far with 70 recalls as of today, but other OEMs have been making their mark with their own recalls. CNNMoney crunched the numbers on the recalls so far in 2014 and figured out that there has been a total of 544 recalls, about two a day. Those 544 recalls have affected 52 million vehicles in the U.S., or about 1 in 5 vehicles. While that figure is disturbing to say in the least, it's made worse as that number has eclipsed the previous record of 30.8 million veh
  8. 2014 will likely go down as the year of the recall in the automotive industry. General Motors is the champion with the most recalls so far with 70 recalls as of today, but other OEMs have been making their mark with their own recalls. CNNMoney crunched the numbers on the recalls so far in 2014 and figured out that there has been a total of 544 recalls, about two a day. Those 544 recalls have affected 52 million vehicles in the U.S., or about 1 in 5 vehicles. While that figure is disturbing to say in the least, it's made worse as that number has eclipsed the previous record of 30.8 million veh
  9. Despite countless studies and reports that say Gen Y (AKA millienals) aren't interested in cars, a new study released this week says this key group are interested in cars. Deloitte LLP, a financial consulting firm published their Global Automotive Consumer Study which showed that Gen Y is very much interested in getting their own vehicle, despite not having the same love affair as their parents and grandparents. "Well over half (61 percent) of Gen Y consumers in the Deloitte report expect to buy or lease a car within the next three years," said Craig Giffi, vice chairman of Deloitte. Giffi w
  10. Despite countless studies and reports that say Gen Y (AKA millienals) aren't interested in cars, a new study released this week says this key group are interested in cars. Deloitte LLP, a financial consulting firm published their Global Automotive Consumer Study which showed that Gen Y is very much interested in getting their own vehicle, despite not having the same love affair as their parents and grandparents. "Well over half (61 percent) of Gen Y consumers in the Deloitte report expect to buy or lease a car within the next three years," said Craig Giffi, vice chairman of Deloitte. Giffi w
  11. If you're looking a vehicle that has the best value in the marketplace, then according to Consumer Reports, you should be looking at the Toyota Prius. The publication announced the results of their annual Best New-Car Value analysis. The analysis looks at the five-year cost for a vehicle to an owner which includes such factors as maintenance, insurance, and depreciation. That cost is factored in with Consumer Reports’ road-test score and reliability rating for each vehicle. This is the second year the Prius has been named the best value in the marketplace. Consumer Reports says the Prius has
  12. If you're looking a vehicle that has the best value in the marketplace, then according to Consumer Reports, you should be looking at the Toyota Prius. The publication announced the results of their annual Best New-Car Value analysis. The analysis looks at the five-year cost for a vehicle to an owner which includes such factors as maintenance, insurance, and depreciation. That cost is factored in with Consumer Reports’ road-test score and reliability rating for each vehicle. This is the second year the Prius has been named the best value in the marketplace. Consumer Reports says the Prius has

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