News Round-up: Oil's Ups and Downs, Porsche Panamera Leaked, and Women Driving Crossover Sales Growth
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.
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]
Join the conversation
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- Analoggrotto As we Tesla owners receive our life energy from the greatest son of the gods of all time, Elon Musk; His cherubs and His nephilim may remove whatever they wish from us for unto him we owe all for our superiority above all the rest of humanity.
- Kcflyer Nice to see California giving NY some competition to be the worst run state in the union.
- Wolfwagen I see my comment was deleted (BTW nice way to censor) so i will say it again:GTFO here with the pseudo "wealth distribution" BS. A crime is a crime is a crime.Its a slippery slope, what happens next, Jail a rich guy when he kills a pedestrian and let the poor guy who kills a pedestrian walk? What about if the poor guy is a crappy driver and has the record to prove it then what?Or we could go crazy and just institute the death penalty across the board for every driving infraction. That will make people better drivers or stop driving altogether which will make the greenies happy (damm it I just gave them an idea - SOB!!!)
- Wolfwagen No. Bring back the J80 with an inline six and reduced electronics (i.e. no giant touch screen) and they will probably sell like hotcakes
- David S. " test vehicles sometimes make sudden stops when uncertain about how to navigate traffic."??? Test vehicles are programmed by humans, HUMANS sometimes make sudden stops when uncertain about how to navigate traffic, Duh!!
Is the next Pan still built on a bespoke P chassis? Or is it now just a tuned and restyled Audi?
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?