Auto Industry Update
Auto Insurance Rates Rising Even Though We're Driving Less
Posted: Aug. 28, 2008 10:08:43 a.m.
The total number of miles Americans drive is at its lowest point in decades, with many of us driving as little as possible in order to save gas, but auto insurance rates continue to rise.
Fewer cars on the road mean fewer crashes, but according to the New York Times, "Many insurers are raising their rates, sometimes by large amounts." Nationwide, the increase amounts to "an annualized rate of 1.7 percent so far this year," according to the Insurance ...
U.S. Could Soon Export Most of its Gasoline
Posted: Aug. 28, 2008 10:08:58 a.m.
The United States could soon be exporting most of the gasoline it makes, despite record high gas prices at home. That's the conclusion of a study by the prominent consulting firm Booz & Company.
Kicking Tires reports, "the U.S. has a refining capacity that many developing countries simply cannot match, yet these countries (such as India) will soon see the introduction of a massive number of vehicles to their roads thanks to cars like the $2,500 Tata Nano ...
Dodge May Sell Off Legendary Viper Brand
Posted: Aug. 28, 2008 10:08:34 a.m.
The Dodge Viper is in many ways the quintessential American supercar. With a powerful, hand-built V-10 engine, an aggressive body style inspired by the legendary AC Cobra of the 1960's, and a driving-focused interior, the Viper is essentially a street-legal race car. But parent company Chrysler is struggling with record low sales, and it isn't clear whether a $100,000 V-10 supercar is a worthwhile investment anymore.
Autoblog reports, "Faced with the fact that it might not be ...
Arab Investors Reportedly Eyeing Hummer
Posted: Aug. 27, 2008 10:08:08 a.m.
GM may finally be losing some dead weight -- well over 6,400 pounds per H2 of it. Reuters reports that a group of investors is eyeing GM's not-too-fuel-friendly Hummer brand. Reuters reports, "Two Gulf Arab investors have expressed interest in buying General Motors Corp's (GM) Hummer brand," and adds "GM was readying sales documents for its Hummer brand and had initial expressions of interest from potential buyers that it hoped to develop into formal sale talks, the automaker ...
Big Three Seeking Federal Help
Posted: Aug. 25, 2008 10:08:14 a.m.
The Wall Street Journal reports that Detroit's Big Three automakers may soon ask the federal government to help them ride out their worst sales year in decades. "Earlier this month, the Detroit Free Press reported that the top dogs at Ford, GM and Chrysler had a meeting of the minds and decided that the way out of their current losing streak would be to ask the feds for a lifeline," The Journal says. "Lobbyists for the car makers are ...
Chinese Going for Gold in U.S. Auto Market
Posted: Aug. 22, 2008 10:08:06 a.m.
Fresh from challenging the U.S. in the Olympic medal count, China is planning a challenge in another competition Americans once dominated: the car dealership.
Edmunds Inside Line reports that Chinese automaker Brilliance has become the fifth Chinese automaker to sign a deal to display its wares at the Detroit Auto show in January. The show is typically the U.S. auto industry's most important stage, where the Big Three roll out the cars they hope will dominate the ...
No One Wants to Buy Hummer
Posted: Aug. 19, 2008 10:08:04 a.m.
Recent reports claim that Hummer is being courted by Russian billionaire Oleg Deripaska and Indian automaker Mahindra and Mahindra. Both parties, however, deny any interest in the ailing brand.
With the U.S. auto market facing record lows, no one was surprised when General Motors (GM) announced it was reassessing its Hummer brand last June. According to Truck Trend, "Hummer sales are down about 40% this year." No doubt that record gas prices are to blame.
Other markets, however, aren ...
Prediction: Every Car Will Be Hybrid in 2020
Posted: Aug. 18, 2008 10:08:50 a.m.
Toyota, the world's largest automaker, knows a thing or two about predicting the future of the automotive industry. They invested in hybrid technology at a time when gas cost just over $1 a gallon and America's Big Three were focused only on high-profit SUVS. The Japanese automaker was prepared with a fleet of attractive and functional small cars when gas hit $4, and has weathered a difficult 2008 far better than most of its competition. So how is ...
Cars More Fuel Efficient Than Ever as Industry Scrambles for Higher MPG
Posted: Aug. 14, 2008 10:08:51 a.m.
The Detroit News reports, "The nation's automobiles and light trucks set a new record for fuel efficiency for the first half of the 2008 model year, according to a government report." According to the National Highway Traffic Safety Administration, "the nation's fleet of passenger cars and light trucks averaged 26.8 mpg through March," up from an average of 26.6 mpg in 2007. When light trucks are removed from the equation, "passenger cars averaged a new high ...
Cars More Affordable Now Than Any Time Since 1980
Posted: Aug. 13, 2008 11:08:07 a.m.
Cars are more affordable now than at any other point in more than a quarter century.
Kicking Tires explains, "Economists at Comerica Bank have found that cars are more affordable now than they have been in 28 years." Comerica's annual Auto Affordability Index study finds that the average sale price of a new car has declined when compared to the average American income this year.
According to the San Diego Source, that means "the purchase of an average-priced new ...
