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Posts Tagged ‘car ownership’

Most Americans Happy to Keep Driving Their Own Cars

New study finds little interest in switching to car-sharing, other options.

by on Apr.22, 2015

While car-sharing services like Uber may be gaining popularity, the vast majority of Americans want to keep driving their own cars.

Wall Street is watching closely as car-sharing service Uber prepares for its upcoming IPO. The San Francisco-based firm aims to take advantage of growing interest in transportation alternatives, conventional wisdom suggesting millions of Americans would be happy to walk away from their cars.

Or would they? A new study by auto supplier Continental finds that, contrary to popular belief, the vast majority of Americans have no intention of handing over their keys. And the study of 2,300 U.S. adults found that true no matter what their age or where they live.

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“There is still a lot of excitement when it comes to driving a car,” said Continental Executive Board Member Helmut Matschi, who noted that the results were echoed in a similar study undertaken in Germany.

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Lexus Takes Top Three Spots for Worry-Free Ownership

Cars.com’s ranking puts Japanese cars in top seven spots.

by on Sep.29, 2014

The 2014 Lexus RX 450h was rated as the most worry-free car by Cars.com.

With new vehicle sales still moving along at a robust rate this year, shoppers may want to stick to Japanese luxury cars if they’re looking for a worry-free ownership experience, according to Cars.com.

The automotive website today released its list of the most worry-free 2014 cars to buy and own and the top five vehicles were from Japanese makers with the first four being luxury cars.

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The Lexus RX 450h, Lexus ES 350, Lexus RX 350, Acura TL and Toyota Camry Hybrid captured the top five spots. (more…)

Even as Economy Rebounds, Americans Curb Driving

Decline could have serious economic repercussions.

by on Aug.29, 2013

Americans continue to spend less and less time on the road, even as the economy recovers.

Fewer people at work, fewer people driving.  It’s a simple equation and one that a lot of experts pointed to as explanation for the notable drop in the total miles U.S. motorists clocked during the depths of the recession.

So, how to explain the fact that even as the economy finally is showing real signs of recovery the number of miles driven continues to decline.  That report from the Federal Highway Administration (FHA) is just the latest indication that Americans may be falling out of love with their automobiles.

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“For almost 40 years, auto usage, as measured by vehicle miles travelled (VMT), closely tracked real gross domestic product. VMT dropped during the most recent recession, as it has during previous ones. But unlike after prior recessions, it still hasn’t recovered,” notes a report from the John A. Volpe National Transportation Systems Center.

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Growing Number of Americans Go Carless

Trend affects old as well as young.

by on May.22, 2013

Ford Chairman Bill Ford, shown here with Zipcar Chairman Scott Griffith. A growing number of households are relying on services like Zipcar rather than owning a vehicle.

Whether by choice or through financial reality, the number of American households without a car has doubled over the past two decades – and is now approaching 10%.

Significantly, the shift is affecting older Boomers as well as Millennials. The impact of this trend could be significant, especially when it comes to alternative forms of transportation such as car-sharing and mass transit, according to research by CNW Marketing.

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“While the recession was in large part responsible for the latest spurt, the trend was already clear,” says CNW’s research chief Art Spinella, “A growing number of Americans felt they didn’t need or want a personal car.”

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Millennials Will Hand You Their Car Keys – But Don’t Take Their Cellphones, Finds New Survey

They’d just as soon stay home to shop – or meet with friends.

by on Mar.05, 2013

When they need a car, a growing number of Millennials will turn to carsharing services.

Forget guns – or car keys – it’s the cellphone you’ll have to pry out of the cold, dead hand of the typical Millennial, according to a new survey.

Brought up on social media, they’re as likely as not to stay home and text friends as drive over for a night out, found KRC Research, which conducted its survey for Zipcar, the largest of the U.S. carsharing services.

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The bottom line: By a more than two-to-one margin, Americans between the ages of 18 and 34 would be more likely to have a meltdown if you took their cellphone than their car keys. A full 65% said that losing their phone or computer would have a major, negative impact on their lives. Only 28% felt that about losing their car.

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Average Car Now Costs Nearly $9,000 Annually to Keep Running

But not everything is going up in price, finds new study.

by on May.04, 2012

That midsize sedan will cost you nearly $9,000 a year to keep fueled, licensed, insured and maintained.

Sure, if money is the object you’ll likely find a dealer offering a $149 lease special on some slow-selling model.  But just because you get off cheap up front doesn’t mean you’re in for a bargain the rest of the way.  The fact is, buying, owning and operating a car is expensive – and getting more so every year.

And that’s not just because of the cost of fuel, which have risen an average 14.8% over the last year.  The cost of replacement tires have jumped 4.2%, according to the 62nd annual “Your Driving Costs” survey from AAA.  And insurance has gone up an average 3.4%.

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Overall, there’s been a less extreme 1.9% increase in the cost of auto ownership since last year, reports the AAA, which works out to $8,946 per annum when you work in that monthly payment, fuel, maintenance and insurance fees.

“The average driving cost for 2012 is up due to relatively large increases in fuel and tire costs, and more moderate increases in other areas,” said John Nielsen, AAA director of Automotive Engineering and Repair. “Those increases were offset by a decrease in depreciation.”

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