Financing a new or used vehicle is growing more expensive than ever for consumers, according to a new report from Edmunds. New data from the Edmunds reveals: • Interest rates are continuing to rise. The average annual percentage rate (APR) on new financed vehicles climbed to 6.5% in Q4 2022 compared to 5.7% in Q3… Continue reading Report: Record Share of Car Buyers Committing to Payments Over $1,000
Tag: Trends
Study: Affordability Concerns Slowing EV Adoption
Despite an overall increase in purchasing intentions, half of U.S. consumers said cost is the top concern when considering all-electric vehicles…
GM Ends Year as Top-Selling Manufacturer
Cox Automotive has revealed its year-end new-vehicle sales numbers, the research firm announced. Full-year sales in 2022, based on vehicle counts by Kelley Blue Book, are forecast to finish near 13.9 million units, Cox Automotive reported, a decrease of 8% from 2021 and the lowest level since 2011 when total new-vehicle sales were recovering from… Continue reading GM Ends Year as Top-Selling Manufacturer
The Best States for Mechanics
Oklahoma topped the list of top states to work as a mechanic, followed by Mississippi and New Mexico…
Axalta Releases Annual Automotive Color Popularity Report
White, black and gray vehicles add up to 82% of the cars on the road, but variations of blue, red and green with high color intensity and sparkling effects are growing in popularity…
Axalta Names Techno Blue 2023 Automotive Color of the Year
Axalta Coating Systems has named Techno Blue as its 2023 Global Automotive Color of the Year, the company announced. Axalta’s 2022 Automotive Color Trends ‘Powered by Color’ report highlights the generational trends, changing reality and positive outlook that shaped this 2023 selection, the company said. “This year’s color is vibrant and radiates positivity,” said Hadi… Continue reading Axalta Names Techno Blue 2023 Automotive Color of the Year
Car Repossessions on the Rise
A growing number of consumers are falling behind on their car payments thanks to rising car prices and an extended period of inflation, according to a new report from NBC. Following a decline at the start of the pandemic, repossessions are again on the rise as the number of people behind on their car payments… Continue reading Car Repossessions on the Rise
IIHS Updates Longest-Running Crash Test to Address Rear Passenger Safety
The Insurance Institute for Highway Safety (IIHS) is updating its longest-running crash test, the moderate overlap front evaluation, to address a growing gap in the protection provided for front and rear occupants, the organization announced. In the first tests, only two out of 15 small SUVs, the Ford Escape and Volvo XC40, protect the rear… Continue reading IIHS Updates Longest-Running Crash Test to Address Rear Passenger Safety
SEMA Seeking Speakers for 2023 Education Program
Topics of focus for the 2023 SEMA Show and SEMA’s year-round virtual education program include sales and marketing, vehicle technology, electric vehicles, small-business strategy and more…
Key Performance Indicators Report — December 2022
Sponsored by Holley – A comprehensive source for industry insights, exclusive interviews, new and used vehicle data, economic analysis, consumer reporting, relevant global affairs and more…
KPI — December 2022: State of Business
The vehicle market remains quite dynamic, as some improving variables are countered by negative ones…
KPI — December 2022: Recent Vehicle Recalls
A roundup of recent manufacturer safety recalls…
KPI — December 2022: State of the Economy
While businesses are in good shape and consumer spending remains relatively strong, experts are warning continued inflation could trigger a recession…
KPI — December 2022: Consumer Trends
A decrease in consumer confidence and a gloomy short-term outlook suggests that the economy has lost momentum as the year winds down…
Driving Into the EV Future
This article originally appeared in the January 2023 issue of THE SHOP magazine. By Jason R. Sakurai It’s all the same, only the names have changed—from “automotive” to “mobility.” With it has come differing attitudes and ideologies. Electric vehicles (EVs) aren’t going away, and we have politicians, environmentalists, advocates and futurists to thank for it.… Continue reading Driving Into the EV Future