With high vehicle values and high interest rates compromising affordability, buyers — particularly entry-level ones — have been forced to extend borrowing time frames, Ross said. “Consumers are looking to stay in a consistent monthly payment range to what they used to previously, so the only thing they have is to elongate that loan term,”…
Tag: auto news now
Study reveals drop in customer satisfaction for independents
Recent numbers from research firm Ducker Carlisle showed growing dissatisfaction with franchised dealership service departments. This week, JD Power released its 2023 US Aftermarket Service Index Study that showed an overall decline in satisfaction with independent repair facilities as well. The data firm revealed independent shops dropped in all three categories that make up the…
Aston Martin to renew DB11, Vantage, DBS sports cars in 2023
LONDON — Aston Martin will reveal the first of its overhauled sports-car range at the end of this month, Chief Financial Officer Doug Lafferty said. The automaker has promised to reveal new versions of its three core sports-car models – the DB11, Vantage and DBS – over the next 12 months. The company has not…
Tesla will shoot for volume over profit: Elon Musk
Tesla missed market estimates for first-quarter total gross margin after cutting prices in the US and globally. The electric vehicle maker reported a total gross margin of 19 percent, compared with an expectation of 22 percent from analysts polled by Refinitiv, Reuters reported. Net income during the most recent period dropped 24 percent to $2.5…
LUXURY: Tesla Q1 sales more than double those of BMW
The entire US luxury sector sales rose 23 percent to 616,970 cars and light trucks in the first quarter, outperforming the broader industry’s 8.4 percent bump. In the first quarter, BMW sales rose 12 percent, and the automaker secured a more than 14,000 vehicle advantage over No. 3 Lexuses. The Toyota luxury brand delivered 68,251…
China dealers struggle as price war, emissions rules upend market
Chinese new-vehicle dealers are struggling to stay afloat after efforts to clear gasoline-fueled cars before tougher emissions standards taking effect later this year are upended by a bruising price war. Auto sales — especially of internal combustion engine light vehicles — haven’t bounced back from pandemic restrictions even with hefty discounts done out by major…
How to Take Care of Your Newly Replaced Windshield
Knowing what you need to do to take care of a windshield that has recently been replaced is the first step in maintaining your investment. Be sure to keep your new windshield in good condition and make sure it will last as long as possible by using the tips and information found here after installation….
Where Ford will slash jobs in Europe
Workers were told to expect concrete numbers of job losses from the automaker in mid-February, according to Cologne’s daily paper, the Kölner Stadt-Anzeiger. Industrial action threats Ford’s plans triggered a union threat of Europe-wide disruption. “If negotiations between the works council and management in coming weeks do not ensure the future of workers, we will…