Mitsubishi confirms it is going to shoehorn another SUV into its lineup to tempt those utility-hungry Americans.
That, Volvo wants everyone to buy S90s from their beds, Fiat Chrysler isn’t having a dealer’s trash talk, UAW bolsters its ranks, and your gas is going up … after the break!
Gasoline is gloriously cheap and the automotive industry is taking a break from the tiresome “more mpg” game.
That, Christmas comes early for Volkswagen employees, Carlos Ghosn has a plan to save big bucks, Google is luring more humans and Bentley can’t build enough SUVs for the “you call this caviar?!” crowd … after the break!
The Environmental Protection Agency is pointing at its watch and glaring at Volkswagen.
That, an opening for the Swedes, an electric propulsion prediction, a high-end guy gets a new job, and Tesla gets targeted in Hoosierville … after the break!
An interesting combination of reports, compiled by the New York Times, shows that Americans saved money at the pumps from cheaper gas is mostly going to more gas and more expensive gas.
The average American should have saved roughly $41 from cheaper gas prices, according to a report by JPMorgan. Instead of taking home those savings, most people only took home $22. A separate study by Brown University and University of Chicago researchers indicated that most people were buying more expensive gas when gas prices dipped.
The phenomenon, which is called “mental accounting,” roughly translates to people spending a target amount of money — regardless of price. (Read More…)
Iran’s oil minister has said that an emergency OPEC meeting may be necessary to stem the tide of slumping worldwide oil prices, Reuters is reporting. Algeria has also called for an emergency meeting.
A barrel of crude oil slid to its lowest price last week of around $40, the lowest in more than six years. Record low gas prices could closely follow, which would help American drivers and car buyers, however the broader economic impact may be tougher to discern. Worldwide markets sank on Friday, largely on fears that China would slow its economic growth and instability in Greece could hamper European economies.
Break out the champagne and 7-liter engines. Have one on us, alright?
The Wall Street Journal and Reuters are reporting that despite a mild increase in crude, oil is hovering around $40 a barrel and it’s expected to further dip in coming months to a six-year low on a global glut of oil.
The national average for a gallon of gas could drop to as low as $2, Green Car Reports says, which would be the cheapest its been since January, and could approach historical lows from 2008.
With fuller wallets and lower prices at the pump, millennials are leading the charge toward the highest consumption among Americans since 2007.
After a slight decline during Easter, gas prices are once again climbing back up as crude oil does the same.
With fuel prices still falling as of this writing, the U.S. Energy Information Administration issued a report forecasting an average of $550 in savings at the pump for a typical family in 2015.
Once upon a time, a gallon of regular could be had for under $3. Then, prices climbed as reduced production and geopolitical uncertainty played their respective roles. However, 2014 could feel like 2010 again as prices tumble back down to $3/gallon.