WEST PALM BEACH, FL - The number of young Americans who are delinquent on their car loan payments have reached the highest level in the 14 years since the tail-end of the Great Recession, according to a new report put out by the New York Fed. In the second quarter of 2023, the number of individuals under the age of 30 with car loans who were at least 90 days overdue on … [Read more...] about Number of Young Americans Late on Car Loan Payments Hits 14 Year High
Study: Increasing Number of Motorists Fixing Older Cars Instead of Buying New Ones
FORT LAUDERDALE, FL - A recent trend that is likely to grow in scope and stick around for quite some time, according to a new study released this week by S&P Global Mobility, involves a steadily growing number of motorists who are sinking larger and larger amounts of cash into fixing their older cars as opposed to purchasing new ones The study indicates that the … [Read more...] about Study: Increasing Number of Motorists Fixing Older Cars Instead of Buying New Ones
Congress Attempts to Stop Automakers from Doing Away with AM Radio
WASHINGTON, D.C. – Following the news that many automakers are planning to do away with AM radio receivers in their new vehicle models going forward – including electric vehicles (EVs) – Congress has unveiled a new bill that, if passed, would mandate that mode of radio wave reception in all motorized modes of transport going forward, citing its typical use to communicate … [Read more...] about Congress Attempts to Stop Automakers from Doing Away with AM Radio
While Shifting to EVs, Ford Pledges Increase in Highly-Profitable Gas-Powered Output
DEARBORN, MI - Amid a shift within Ford to transition over to the manufacture of electric vehicles (EVs) – recently inking a deal with Albemarle Energy for ample supplies of lithium hydroxide to support building 3 million EVs between 2026 and 2030 – the company has nonetheless experienced a recent uptick in the number of internal combustion engine vehicles they have sold, … [Read more...] about While Shifting to EVs, Ford Pledges Increase in Highly-Profitable Gas-Powered Output
Used Vehicle Prices Remain “Historically” High This Spring Car-Buying Season
WASHINGTON, D.C. – Now that spring car-buying season has swung into full gear, many people are going out and attempting to score a deal on a pre-owned vehicle; unfortunately, they're not likely to find one, as a new report indicates prices in the market are remaining stubbornly high and are refusing to budge. Edmunds’ new report, “Used Market Enters Uncharted … [Read more...] about Used Vehicle Prices Remain “Historically” High This Spring Car-Buying Season