Report: Regular People Cannot Afford New Cars Anymore
The average monthly payment for a new car sold within the United States has reached a record $777, according to Kelley Blue Book’s parent Cox Automotive. That represents roughly one-sixth of the median household income and is about twice the price of what would have been considered average in 2019. How the hell has it managed to come to this?
J.D. Power Survey Suggests Public EV Charging Getting Worse
Over the last couple of years, there have been a series of questionnaires hoping to determine how satisfied people are with the United States EV charging infrastructure. Most have been pretty bleak, suggesting that just about everyone driving an electric car prefers to charge at home. But these surveys have also highlighted a problem with the general unreliability of public charging stations.
Based on the latest data coming from J.D. Power, the issue appears to have worsened. The outlet’s Electric Vehicle Experience Public Charging Study alleges that over 20 percent of all charging attempts failed in 2022.
Study: Electric Cars Cost More to "Fill up" Than Gas
A Michigan-based think tank has claimed that it now costs less to drive an internal combustion vehicle 100 miles than to charge up a comparably all-electric vehicle using home charging. Though this claim comes with a few caveats, starting with acknowledging that this only applies to “midpriced” vehicles based on the national average for fuel and electricity rates.
Study: America Allegedly Needs to Quadruple EV Chargers by 2025
The United States is in the midst of expanding its electric vehicle charging network to ensure there’s sufficient charging capacity for the planned deluge of EV sales. Companies are even getting government money earmarked within the so-called Inflation Reduction Act to ensure that the Biden administration’s lofty environmental goals are maintained. However, a recent report by S&P Global Mobility has suggested the U.S. is nowhere near on pace to meet projected EV demand.
Cox Forecasts Used Vehicle Pricing Trends for 2023
Wholesale used-vehicle prices continued to climb during the last weeks of 2022, though the overall trend actually had secondhand valuations down by 15 percent for the entire year. That’s due largely to auction prices cooling off after the summer ended and the situation has many speculating that 2023 could be the first year we see massively inflated car prices begin to return to normal.
Consumer Reports Offers Ideas to Make Driving Tech Safer and More Enjoyable
Driver assistance features have started to lose their luster now that they’re starting to become mainstream. Studies have shown that they’re often less reliable than one would expect and are being implemented in a manner that may not be appealing to motorists. In an effort to tackle this problem, Consumer Reports has released detailed guidelines to car manufacturers it believes will make people more willing to engage with advanced driver assist systems (ADAS).
Study: Auto Execs Are Becoming Less Optimistic About EV Adoption
Automotive executives are reportedly scaling back their expectations for EV adoption, according to an annual survey conducted by KPMG International. Last year, professionals working at the top of the industry reported that they believed (on average) that over half of all new vehicles sold in the United States by 2030 would be battery-electric. But their faith in electrification appears to be evaporating, with most respondents suggesting that particular goal is no longer achievable.
Study Claims Odometer Rollbacks Are Making a Comeback
The latest research from Carfax has led the company to report that more than 1.9 million vehicles on the road have rolled-back odometers – noting that this represents a 7 percent increase against the previous year.
“Many people think odometer fraud disappeared with the invention of digital odometers,” stated Emilie Voss, Public Relations Director for Carfax. “But that couldn’t be further from the truth. We’re still seeing the number of vehicles on the road with a rolled-back odometer rise year-over-year.”
Report: Middle America Just Isn’t Having EVs
Depending upon where you live, battery electric vehicles are either gradually becoming commonplace or rarer than a two-dollar gallon of gasoline. A new study from S&P Global has helped illustrate the current regional phenomenon, with an accompanying report that suggests it won’t be lasting forever due to the industry pivoting to build more mainstream EVs while the United States expands its charging network.
Car Loan Delinquencies Keep Increasing, Who Is to Blame?
Not that you couldn’t have figured this one out all by yourself, but car loan delinquencies are reaching record levels once again. The culprits are the usual suspects. Wages have failed to keep pace with inflation for a couple of generations, current inflation rates are at record highs, and those loan-accommodation programs set up during the pandemic are all expiring now. Basically, regular people are becoming broke so they’re starting to be forced into tough financial decisions – including whether to make their car payments against heating their homes or feeding their families.
Insane Survey Claims Most People Would Pay $19,000 Over MSRP
With vehicle prices surging over the last two years, the age of negotiating a price below sticker seems to have ended. Manufacturers are raising their rates to cope with inflation. But they’ve also noticed how much abuse they’ve been willing to endure via dealer markups. You rarely hear someone talking about how much they saved on their new car anymore. Now, the topic of interest is how much financial abuse you managed to avoid before driving it off the lot.
Study: The Fifteen Most Overpriced Vehicles of 2022
With automotive prices skyrocketing these last two years, you may have found yourself waiting out the market until wealthy business magnates, unaccountable banking institutions, and multinational monopolies have had their way with it – hoping beyond hope that they’ll be a modestly priced car for you to live in when the economic dust finally settles.
But what if you can’t wait that long and need something today? While may not be able to steer you toward the deal of a lifetime, we do know which vehicles you might want to cross off your list thanks to a study targeting mainstream models seeing the highest dealer markups. Though, be warned, you’re still probably better off driving whatever you have today because the national average still has vehicles listed 10 percent above MSRP.
IIHS Reports Pedestrian Detection Tech Rarely Works After Dark
The Insurance Institute for Highway Safety (IIHS) released a study on Tuesday that showcased just how badly advanced driving aids perform at night – specifically the automatic emergency braking systems that are linked to pedestrian detection.
This mimics earlier studies connected by the American Automobile Association (AAA), which frequently highlighted inconsistencies in driver assistance features in general. But nighttime was when things really started to come undone, with plenty of models failing to register that the simulated pedestrians used for testing were even there.
Automotive Study Confirms What You Already Know About Buttons VS Touchscreens
If you've ever piloted a modern vehicle, you've likely noticed that touchscreens have started supplanting physical controls. You've also probably found that they're not as easy to interface with as the buttons, switches, and knobs they're replacing. Well, there's another study out that's supporting what drivers have known for years – touchscreens don't make for intuitive vehicle controls and may even make the whole process of getting to your destination a little more treacherous.
Surveys Suggest EV Owners Still Annoyed With Charging Infrastructure
There’s been an increase in reports of inoperable charging stations intended for EVs this year, with the data coinciding with J.D. Power’s annual Electric Vehicle Experience Public Charging Study. Despite EV sales continuing to climb, the survey showed that people are actually becoming less satisfied with charging stations overall.
"Not only is the availability of public charging still an obstacle, but EV owners continue to be faced with charging station equipment that is inoperable," elaborated Brent Gruber, executive director of global automotive at J.D. Power.