News Round-up: Oil's Ups and Downs, Porsche Panamera Leaked, and Women Driving Crossover Sales Growth

Mark Stevenson
by Mark Stevenson

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]

Mark Stevenson
Mark Stevenson

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  • Stuki Stuki on Jun 01, 2016

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

  • Lorenzo Lorenzo on Jun 01, 2016

    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?

  • Vulpine A sedan version of either car makes it no longer that car. We've already seen this with the Mustang Mach-E and almost nobody acknowledges it as a Mustang.
  • Vulpine Not just Chevy, but GM has been shooting itself in the foot for the last three decades. They've already had to be rescued once in that period, and if they keep going as they are, they will need another rescue... assuming the US govt. will willing to lose more money on them.
  • W Conrad Sedans have been fine for me, but I were getting a new car, it would be an SUV. Not only because less sedans available, but I can't see around them in my sedan!
  • Slavuta More hatchbacks
  • ED I don't know what GM is thinking.I have a 2020 one nice vehicle.Got rid of Camaro and was going to buy one.Probably won't buy another GM product.Get rid of all the head honchos at GM.This company is a bunch of cheapskates building junk that no one wants.