DETROIT, MI - If the United Auto Workers (UAW) union fails to come to an agreement with Detroit automakers by the looming deadline of September 14, 2023, the resultant 10-day strike could have a financial impact upon UAW members – which includes Stellantis, Ford, General Motors and related businesses such as their franchised dealers – in the amount of up to $5 billion in … [Read more...] about Looming United Auto Workers Strike Could Cost Industry $5 Billion in Losses
LED Technology Continues to Evolve in Automotive Industry
WEST PALM BEACH, FL - While Light Emitting Diode (LED) technology has been around for decades, its use in the automotive industry is a fairly recent phenomenon that is greatly contributing to the improvement of safety and energy efficiency standards of new vehicles coming off the assembly line. When initially adopted by the automotive industry, LEDs were mainly utilized for … [Read more...] about LED Technology Continues to Evolve in Automotive Industry
Automotive Insurance Rates Spike, Hit Worst Point in 30 Years, Report Says
WASHINGTON, D.C. - U.S. automotive insurance rates have spiked, with experts saying that the industry has hit its worst point in 30 years and if the situation isn't addressed soon, motorists could very well be approaching a significant financial crisis when it comes to acquiring affordable coverage for their vehicles. According to the consumer price index (CPI) for June, … [Read more...] about Automotive Insurance Rates Spike, Hit Worst Point in 30 Years, Report Says
Mazda to Discontinue U.S. Electric Vehicle Sales Amid Intense Competition from Telsa
IRVINE, CA - Japanese automaker Mazda announced late last week their decision to discontinue selling electric vehicles (EVs) in the United States amid the current intense competition and market dominance exhibited by South African tech tycoon Elon Musk’s Tesla, Inc. The EV industry has grown increasingly cutthroat overall as more and more automakers have been revealing, … [Read more...] about Mazda to Discontinue U.S. Electric Vehicle Sales Amid Intense Competition from Telsa
High New Car Costs Leading to Oversupply: Prices Expected to Drop Sharply Soon
WASHINGTON, D.C. - Skyrocketing prices of new cars within the last few years – driven in part by supply chain issues as a result of the COVID-19 pandemic – have resulted in many consumers being priced out of the market and instead sinking their money into keeping their current vehicles on the road as long as possible. Due to this new hesitancy on the part of auto buyers, there … [Read more...] about High New Car Costs Leading to Oversupply: Prices Expected to Drop Sharply Soon