Today’s Chart comes from J.D. Power, showing the growth of long term loans in the Canadian car market. While 96 month loans are just starting to hit American consumers, the 8 year loan terms have been present in the Great White North for some time. A friend was recently looking at a modestly equipped Big Three Pickup, which would be used for work. The truck, with an MSRP of $35,000 CAD (plus 13 percent sales tax), was offered at 96 months for 3.99%. That would have added up to $6,000 in interest payments over the loan term.
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Bloomberg’s op-ed “Detroit Fights Innovation — Again” is not about the Detroit Three of GM, Ford and Fiat Chrysler [merger consummated Oct 12th] or even manufacturers, but about Michigan and (indirectly) automotive dealers. It makes the very tenuous claim that a ruling blocking Tesla from running company stores (which is in fact in line with existing state law) is tacit protectionism that represents a step backward. Indeed, the article implies that the restriction is ultimately aimed at preventing a Chinese invasion. In fact the policy is misguided because history shows that there’s no need to fear factory stores, at least as long as they’re not set up by a car company so as to undermine their own existing dealers.
The Takata airbag recall continues to grow, with Nissan adding 260,000 2008 through 2012 models worldwide to the list.
During my trip to Sweden a few months ago, I watched a Volvo 244 triumph at a Folkrace, saw some great restored Detroit iron, and— of course— went to the junkyard. In fact, I went to one of the best junkyards I’ve ever seen: Bloms Bilskrot, located near the northern town of Söråker. We’ve taken a detailed look at this 1966 Toyota Crown wagon, this 1963 Ford Taunus 17M, this California-customized 1969 Ford Econoline van, this 1964 Simca 1000, and now it’s the turn of a not-sold-in-North-America fifth-generation Nissan Cedric. Read More >
Clutching dearly onto their fleet of Panthers, New York’s taxi industry is heading up to Albany to contest the $1 billion plan to replace their vehicles with Nissan’s “Taxi of Tomorrow” NV200.
The fate of where the next-gen Jeep Wrangler will be assembled may have been settled, thanks to the fact that there will be no unibody Wrangler anytime soon.
But while the results from three years ago involved post-tsunami struggles for many Japanese automakers and 27,000 extra Chrysler Group sales, September 2014’s numbers point more exclusively to the gains made at Chrysler’s five brands.
Once again, Chrysler Group sales increased by around 27,000 units, year-over-year. Toyota sales, including Lexus and Scion, also increased, rising less than 2% last month. In September 2011, total Toyota USA sales tumbled 17%. Read More >
A pair of auto manufacturer groups are coming together to form a consortium meant to prevent crackers — the correct term for those whose goal is to give computer security a good thrashing — from busting up a given vehicle’s communication system, one that has the blessing of the federal government.
The panopticon grows taller every day, as motorists who try to learn what information is gathered by the automatic license plate readers face roadblock after roadblock, with three cases set to determine once and for all what can be seen.