By on April 22, 2019

For roughly the last decade, we’ve heard the motoring media bemoan Millennials as the generation that snubbed driving. Their inability to find and hold jobs that paid as well as their parents’ did at the same stages of life, combined with elevated costs of living and crippling student debt load, negatively impacted their purchasing power. Still, this generation might be just the tip of an iceberg the industry’s about to careen into.

As it turns out, Generation Z might even be less interested in cars. In addition to facing similar financial constraints as their older peers, most of them aren’t even bothering to get a driver’s license.  (Read More…)

By on March 11, 2019

It looks as though more parents are increasingly paying for the transportation needs of their (sometimes very old) children.

Thanks largely to abandoning the important job of parenthood, a Bank of America survey a discovered small portion of adults between age 23 and 37 are now able to put away legitimate savings. However, the prevalence of student debt, low-paying jobs, and an increased cost of living has left many to continue scrimping and saving. In fact, most Millennials under 24  had less than $1,000 in their savings accounts, with nearly half having no savings at all. The former was also true for older members of the same generation. On average, it’s presumed that Millennials are earning 20 percent less than their Boomer parents at the same stage in life — despite being better educated, overall.

That’s causing future issues for the automotive industry. When Bankrate surveyed Americans to get their financial priorities on record last month, 23 percent of respondents specified that student-loan debt directly influenced their decision to delay purchasing a new car. Considering both monthly payments are frequently set to the tune of hundreds of dollars, that would make a lot sense.  (Read More…)

By on August 24, 2017

20-2014-jeep-cherokee-chrome-grille

Years from now — perhaps even now, for the younger generation — I think people will have trouble understanding that a significant percentage of humanity used to derive a good living from arbitrage of one form or another. We live in a world now that has been effectively flattened by the standardized shipping container and the Internet. It was not always so. Think of Max Hoffman towing one Beetle behind another one all the way from an East Coast port to a Midwest town then taking the train home.

Even more interesting is that people used to be accustomed to paying money for information and/or access to knowledge. For instance, my old pal Alex Roy grew up in his father’s business, Europe By Car, which was (and still is) a service that arranged overseas rentals for American customers. Can you imagine that there was once a time when people couldn’t just click a couple of buttons and have a rental car waiting for them in London or Stuttgart? Crazy, I know.

The imperial ease with which we command the delivery of things from China or arrange hotel rooms in Zurich from the comfort of our living room in Milwaukee sometimes blinds us to the fact that sometimes you just have to deal with the impacts of distance and displacement. Our friend Brent is experiencing one of those times, at least by proxy.

(Read More…)

By on January 26, 2015

2016-Chevrolet-Volt-2

By the end of Q1 2015, PHEVs are expected to take 1 percent of the overall U.S. domestic market despite fuel prices continuing their downward spiral.

(Read More…)

By on July 2, 2014

Cuban Yank tank

Last year, the Cuban government finally made it legal for its citizens to freely buy new vehicles for the first time since Fidel Castro sent Fulgencio Batista packing in 1959. The people rejoiced right up until they saw the prices on the showroom floor this January, family sedans marked up 400 percent or above as if they were Ferraris and Bugattis.

(Read More…)

By on May 15, 2013
Elon Musk has enemies in North Carolina

Elon Musk has enemies in North Carolina

The North Carolina State Senate unanimously passed a piece of legislation that would make it illegal for Tesla to sell vehicles via their current direct sales method.

This story will no doubt go viral. But this is hardly the first time the greasy palms of North Carolina’s Senate were asked to target a successful business model that threatened a special interest.

(Read More…)

By on May 16, 2011

Logic makes you think that used cars sales would skyrocket at the moment in Japan. The auto industry barely has started producing and will not be back to normal before the end of the year. Hundreds of thousands of cars have been destroyed. In Japan’s Miyagi Prefecture alone, 146,000 cars are estimated to have been severely damaged or destroyed, 10 percent of the 1,540,000 cars registered in the Prefecture. Used cars should be flying off the lots. But the opposite is true. (Read More…)

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