RICHMOND, VA - Between high prices for used vehicle, coupled with and even higher interest rates on auto loans, many prospective car buyers are finding themselves priced out of the market entirely as going pre-owned – formerly a way to save a buck or two – has become entirely unaffordable for many people these days. This new reality has hit many pre-owned … [Read more...] about Skyrocketing Car Prices Pushing Both New & Preowned Buyers Out of the Market Entirely
Market Updates
2022 Ford F-150 Lightning EV Loses 50% of Range Towing Nowhere Near Capacity
WICHITA, KS - According to YouTube channel Hoovies Garage – which described itself as documenting “the adventures of Tyler Hoover, an automotive writer who makes suicidal car purchases, and maintains a fleet of cars he calls the ‘Hooptie Fleet’” – the 2022 Ford F-150 Lightning Lariat is an impressive fully-electric pickup truck…until you actually start towing things with it, … [Read more...] about 2022 Ford F-150 Lightning EV Loses 50% of Range Towing Nowhere Near Capacity
Ford Begins Construction on $5.6 Billion Electric Vehicle Factory in Tennessee
HAYWOOD COUNTY, TN - On Friday, Ford Motor Company held their officials groundbreaking ceremony for their new $5.6 billion, Tennessee-based electric vehicle and battery manufacturing plant that will become the main centralized aspect of the company’s plans to transition over to an all-electric vehicle format, with plans of selling two million EVs every year by … [Read more...] about Ford Begins Construction on $5.6 Billion Electric Vehicle Factory in Tennessee
Chinese Auto Manufacturer Debuts Shenlan SL03, a $26,000 Near Identical “Tesla Clone”
CHONGQING, CHINA - Over the years, Tesla – the noted electric vehicle (EV) manufacturer owned by business magnate Elon Musk – has been formed to contend with Chinese companies putting out what are basically “clones” of their various models. These imitators will often copy Tesla’s designs, engines, digital user interfaces, and – at one point in time – even the layout of Tesla’s … [Read more...] about Chinese Auto Manufacturer Debuts Shenlan SL03, a $26,000 Near Identical “Tesla Clone”
Consumer Cost on New Vehicles Skyrocket, Hit Record Average of $743 Per Month
NEW YORK, NY - A new Vehicle Affordability Index report released last Thursday by Cox Automotive and Moody's Analytics indicates that the average monthly payments for new vehicles continue to skyrocket as COVID-19-driven supply chain issues – especially when it comes to semiconductor shortages – continue to make picking slim and demand climb. As of August, the latest month … [Read more...] about Consumer Cost on New Vehicles Skyrocket, Hit Record Average of $743 Per Month