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
Tesla Completes First Cybertruck at Austin Facility Four Years After Official Unveiling
AUSTIN, TX - Tesla has finally completed its first ever-production model of its highly touted Cybertruck at its Austin, Texas facility, four years after CEO Elon Musk unveiled the company's ambitious debut light-duty pickup in November of 2019. The Tesla Cybertruck is a battery electric light-duty truck, with three models announced with EPA range estimates of 250–500 … [Read more...] about Tesla Completes First Cybertruck at Austin Facility Four Years After Official Unveiling
Electric Vehicle Inventory in United States Currently Outstripping Demand
WASHINGTON, D.C. - According to a new Axos report, electric vehicles (EVs) were once very much in the demand due to their initial limited supply. However, as automakers have gotten in on the EV game and have upped their production, it is being noted that more of these “green” vehicles are essentially piling up on dealers' lots as they are being continuously overlooked by buyers … [Read more...] about Electric Vehicle Inventory in United States Currently Outstripping Demand