Spring is here, and it's the perfect time to discover fresh feelings of adventure.If you are willing to explore your need for speed, then RepoKar is the right place for you! RepoKar is a fun, high-octane online Public Auto Auction where you'r...
The company which is about to set a record fine of $1 billion imposed by two U.S. regulators for its risk management business is none other than Wells Fargo & Co. Lask week the company got a proposal from U.S. Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC), to resolve probes into auto insurance and mortgage lending abuses at the third-largest U.S. bank. Wells has acknowledged that it charged customers for excessive auto insurance, a burdensome expense that caused some to see their cars repossessed after defaulting on loans. Wells Fa...
In the first quarter of 2018 new car sales grew by 12.6 percent over the last year as high consumer confidence and low unemployment favored Houston dealerships. Local car dealers sold 22.278 new cars in March, which is more by 6.4 percent over the last year. However, the average price for a new vehicle fell for the second month in a row to $37,217, which is less by $554 or 1.5 percent. Prices fell in all car categories, cars, trucks, and SUVs. Average prices fell because the market share for trucks and SUVs has fallen. Since SUVs and trucks cost more than sedans, a loss in market sh...
Sedan sales are falling across the industry, and automakers are reacting to this. General Motors reacts by halving Cruze production at its Lordstown, Ohio factory, probably impacting around 1,500 workers there. This factory only produces Cruze, and there are working just under 3,000 employees. The news comes as sedan sales, in general, are down 13.2 percent this year while crossover, SUV, and truck sales grew seven percent. Sales for the Cruze are even worse than the industry average, 28 percent. Last year, Chevy sold just over 184,000 Cruze models. The sales' decline forced the...
The Chinese government made a surprising announcement that it plans to eradicate the protectionist rules that stop foreign car makers from selling their cars in the country, opening its markets to the capitalist vehicle manufacturers from 2020. Today’s rules state that to sell cars in China without big taxes, car makers need to establish joint venture companies with local firms and can’t own more than 50 percent of its Chinese partner. These measures were introduced by the Chinese government in 1994 trying to promote local companies and limit the already-rich Western aut...
For Ford Mustang enthusiasts, April 17 is a special date. In 1964, Ford unveiled the pony car at the World’s Fair in Flushing Meadows, New York. It became an overnight sensation. Now, 54 years later, the iconic muscle car is the best-selling sports coupe in the world for 2017. Ford sold 125,809 Mustang coupes and convertibles in 2017. The world is falling in love with this car, Mustang representing the best of American design, performance, and freedom with unmistakable personality. The United States is the car’s best market. Ford sold here 81,866 Mustangs. But, other mar...
