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For car dealers, a sunny sales outlook at the start of 2018 has been overshadowed by rising interest rates, shrinking customer budgets and cost increases. Their optimism for the next quarter lost 14 points to just 56 on a 100-point scale, according to the Cox Automotive Dealer Sentiment Index. The report, based on a survey of more than 1,000 independent and franchise car dealers from April 30 to May 14, shows prospective buyers grappling with tight finances despite a Republican tax cut that many sales executives had expected to boost consumer spending. The biggest challenges they re...
Sales of plug-in hybrid cars soared by almost three-quarters year on year in May, dramatically outstripping the 3.4% overall growth in new car registrations. Nearly 4,000 plug-in hybrids were bought last month, up from 2,301 in May 2017. Registrations of purely battery-powered cars were up by nearly a fifth, to 1,099. The numbers are still a small fraction of the total 192,649 cars bought in the month but all electrified vehicles combined took a record market share of 5,8%. However, the demand for diesel cars continues to wane in the face of environmental and tax concerns. Diesel reg...
Car dealerships in Scandinavia, and perhaps beyond, have something against electric vehicles. That’s the conclusion of an investigation conducted by researchers in Nordic countries, where they visited car dealerships and found agents actively discouraging buying electric cars. To conduct the investigative study, the researchers visited 82 car dealerships in Denmark, Norway, Sweden, Iceland, and Finland. In two-thirds of their visits, agents steered the researchers toward gas-powered cars, sometimes dismissing electric vehicles outright. In three-fourths of the visits, ve...
President Donald Trump has the intention to put a 25 percent tariff on imports of cars under a similar authority that allowed him to slap duties on imports of steel and aluminum in order to protect U.S. national security, a senior administration official has confirmed. The Commerce Department, at Trump’s request, on Wednesday launched an investigation into the national threat of imported automobiles, trucks and auto parts, this being the first step toward imposing the tariffs. Commerce Secretary Wilbur Ross said in a statement that there is evidence suggesting that imports fro...
That’s not a secret that new cars are much safer than old cars, but what we did not know is by how much. National Highway Traffic Safety Administration just released a report highlighting the added safety of newer cars and trucks over older cars and trucks, and attaching real data to an otherwise assumed theory is always a good idea. Here are some of the most powerful data points worth seeing:55 percent: Occupants fatally injured in vehicles built prior to 198453 percent: Occupants fatally injured in vehicles built between 1985 and 199246 percent: Occupants fatally injured in v...
