Recent estimates from the Bureau of Economic Analysis (BEA) showed that more car buyers bought domestic vehicles than their foreign counterparts. This comes as the U.S. auto market is attempting to recover from the lockdown as a result of the COVID-19 pandemic.
After a two-year hiatus, Ford Motor Company has decided to release its U.S. monthly sales reports again. This was reported by Bloomberg and picked up by Automotive News.
A study from the Kogod Business School at American University in Washington, D.C. found that General Motors led all automakers in using the highest percentage of U.S.- and Canadian-made parts and materials, known as total domestic content (TDC), in the assembly of their vehicles at its U.S. plants.
An article from 24/7 Wall St. reported that owners of electric vehicles (EVs) can save as much as $10,000 more than those who own gas-powered vehicles. EV owners reportedly save money on fuel, maintenance, repairs and depreciation, as well as receive financial incentives from the federal government for making such an environmentally conscious purchase.
A recent article from Curbed debated findings from The New York Times that New York City saw a surge in vehicle registrations, called the “Vroom Boom,” as more city dwellers saw an opportunity to have their own form of transportation. However, Curbed argued those figures may be greatly exaggerated, as the “Vroom Boom” wasn’t the big bang it was made out to be.
The Automobile Association of America’s (AAA) Foundation for Traffic Safety recently sent out a report that showed that drivers may rely too much on their vehicles’ driving assistance systems without understanding their limitations. That is because the companies that develop these systems market them with misleading brand names that might lead drivers to believe the technology is more advanced than it really is.
A recent report from iSeeCars showed that the average price for a used car during the month of August increased 4.1% over the previous month. Last month’s average price was $23,705, compared to $22,764 in July.
A survey from the Pew Research Center found that more than half (52%) of those polled believe the U.S. government isn’t doing enough on climate change. When asked what they would like to see done, 71% said they want the government to impose tougher fuel-efficiency standards for all vehicles.
Wards recently released its forecast which predicted a seasonally adjusted annual rate (SAAR) of 14.1 million light vehicles in sales and inventory for last month. (SAAR is the number of light vehicles, both sold and unsold, over the past 12 months.) That number would mean an 8% increase over June’s numbers and a major improvement over April, when there were fewer than 9 million vehicles that were both sold and on the market because of the ongoing coronavirus pandemic.
An article from 24/7 Wall St. reported that, based on research from IHS Markit, people who drive older cars now will continue to drive them in the next few years. IHS predicts that, from 2018 to 2023, there will be an increase of 22% in the number of 16-year-old cars on the road. This means, in three years, 84 million older cars will still be driven, compared to 35 million in 2002. Rather than driving around an older car, call Gershow Recycling to sell it.