By on May 31, 2016

Oil Pump Jack, Image: Paul Lowry/Flickr

After a short rally in the price of oil, WTI and brent crude prices have plateaued over the last week ahead of an OPEC meeting Thursday, and increased oil production from Iraq beginning next month.

That, Porsche leaked the new Panamera, and women are more likely to buy vehicles on their own after the jump.

Oil producers crank up the volume

According to The Globe and Mail, the world’s second largest producer of oil is looking to increase production next month by 5 million barrels in an effort to boost market share.

Iraq, which is a member of Organization of the Petroleum Exporting Countries, is already producing record volumes of oil.

On Thursday, OPEC will meet in Vienna to discuss a few matters, but the price of oil — now hovering around $50/barrel — likely isn’t one of them. Instead, the organization will focus on market share discussions, and also elect a new secretary-general.

Porsche Panamera Leak

This is the next Porsche Panamera, supposedly

A Californian named Vince Burlapp caught a look at what he says is the 2017 Porsche Panamera. So, um, here it is.

Full disclosure: I still haven’t driven a 911.

‘Are you sure you can buy this car without your husband’s permission?’

Dealers are horrible, or at least some of them are.

A piece in Automotive News illustrates the fact that some dealers and salesmen are still stuck in 1956.

Nora Patey knew what she wanted when she went car shopping over Presidents Day weekend: a small SUV, with a backup camera, high carriage and a reasonable monthly lease payment. Even so, many of the salesmen made their pitches to her boyfriend.

“He would have to say, ‘It’s not my car, don’t talk to me, talk to her,’” the 24-year-old recalled. “Even though I would initiate the introduction and say that I was looking for the car, and I was buying it, a lot of the conversation would frequently get directed to him.”

But it’s women — and especially single, professional women — that are driving sales growth. And if you treat them right, they’ll keep coming back, possibly with friends.

“There’s a group of single, professional females out there that need vehicles, and you need to be attentive to them,” said James Mulcrone, director of research services in MaritzCX’s Michigan office, who has studied trends among female automobile buyers. “They’re going to make money, they’re going to make their own decisions, and they can be very loyal consumers.”

More than two-thirds of female buyers reported their 2015 purchase decision as “entirely up to me,” and the appeal of SUVs, with ample cargo room and improving fuel economy, is widespread.

[Images: Oil Pump Jack, Paul Lowry/Flickr]

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15 Comments on “News Round-up: Oil’s Ups and Downs, Porsche Panamera Leaked, and Women Driving Crossover Sales Growth...”

  • avatar

    I have a neighbor who’s wife was “treated right” at a car dealership. She divorced her husband and moved in with the salesman.

  • avatar

    I have a few car dealers in the family and have dealt with some in car purchases… some are great, particularly in the smaller used car realm. But the franchise boys tend to be chest beating pricks.

  • avatar

    “Even so, many of the salesmen made their pitches to her boyfriend.”

    Maybe he was really cute. Shouldn’t assume sexism when it may be just sex. I’ve heard a lot of showroom lizards are *that* way.

  • avatar

    Wife bought her current ride – a 2011 Equinox LTZ – with no input from me other than phone conversations. I was at work, she had the day off and the dealer she was visiting has a good reputation.

    Worked out well.

  • avatar

    Pay attention dealers- younger professional women are now (surprisingly) out-earning younger males in similar jobs.

    Unsurprisingly a majority of advanced and undergrad degrees are awarded to women.

    As such, the “Are You Sure You Can Buy This” question is best directed at the men.

    • 0 avatar

      Why is that surprising? Diversity and AA quotas have companies scrambling to hire women to improve their gender ratios, resulting in offering women more money to take the jobs. It’s the least surprising thing at all given the incentive structure setup by worshipping at the “diversity” altar.

      • 0 avatar

        Or maybe women in aggregate turn out to be rather good students, employees, etc, and are finally getting paid accordingly. Once enough women have been hired into a company there will no longer be an incentive to pay them more (if that in fact exists now).

        If in aggregate they get promoted accordingly, imagine how “diverse” things will get!

        • 0 avatar

          From what I have seen, most entry level professional type employers would rather hire women. I spoke with the head of HR for a state agency. She said (yes, *she*) that women tend to be more focused on details and are slightly more productive vs. male counterparts. They are also more loyal, and tend to stay longer… however she said her agency hires more men, because fewer women are willing to work nights/weekends, and at any given moment, 15% of the women are on pregnancy leave. She also mentioned that health insurance was more expensive for women.

          • 0 avatar

            “I spoke with the head of HR for a state agency. She said (yes, *she*)…”

            Are you implying that it is surprising that the head of HR for a government agency is female?

  • avatar
    SCE to AUX

    The Panamera looks like a stretched Tesla Model 3.

  • avatar

    Is the next Pan still built on a bespoke P chassis? Or is it now just a tuned and restyled Audi?

  • avatar

    Amazing how, with 95 million barrels of crude consumed daily, just a one million bpd surplus can cause the market to go haywire. If shale hadn’t produced 5 million bpd for domestic consumption, reducing imports by that much, the price of crude would have skyrocketed.

    Now with Iran ready to sell what they stockpiled while under sanctions and Iraq and Libya eventually getting back to normal output, we may never see $100/bbl crude again, unless the value of the dollar drops like a rock. The possibility of that is not zero, though unlikely.

    I’ve heard the Bakken small players are being bought out by the big guys, and the Eagle Ford players are still drilling, but not fracking, holding future output back. Has anyone heard that too?

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