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Analysts Predict New Vehicle Sales to Slide 2.1% in March

Analysts Predict New Vehicle Sales to Slide 2.1% in March

U.S. auto sales were predicted to fall this year, and due to bad weather, lower-than-expected tax refunds and some mixed economic inputs, March auto sales are expected to help ensure that prophesy comes true. New vehicle sales will drop 2.1% this month compared with...
Poor February Auto Sales Confound Analysts

Poor February Auto Sales Confound Analysts

After of drop sales in February of 2.8%, the auto industry is facing unsettled times during the next few months, analysts predict. “February had a lot of good economic news to support a healthy vehicle market outlook, but that may not be coming to pass. The stock...
Tesla Boss Musk Teases Big Announcement

Tesla Boss Musk Teases Big Announcement

Elon Musk is creating more news. Fortunately, this time it won’t – or shouldn’t – involve the U.S. justice system. Musk changed his name on Twitter to Elon Tusk and announced the company would be making an announcement at 2 p.m. Pacific Time today. He didn’t provide...
Tesla Readying to Lease Model 3s to Employees

Tesla Readying to Lease Model 3s to Employees

Tesla Inc. is readying for the next step in the evolution of its Model 3: leasing. According to Electrek, the Palo Alto, California-based EV maker is looking to boost demand for the new mainstream sedan by offering employees a leasing program for the vehicle. Initial...
Auto Loan Delinquency Rate Higher than Great Recession

Auto Loan Delinquency Rate Higher than Great Recession

The Federal Reserve Bank of New York reports that more than 7 million Americans are delinquent on auto loans, even more than during the Great Recession. The figures, which were part of New York Fed’s quarterly report on household credit, suggest that many...
Rising Interest Rates Will Drive Auto Sales Down in 2019

Rising Interest Rates Will Drive Auto Sales Down in 2019

The Federal Reserve raised interest rates throughout 2018 and, as observers expect to confirm today, new vehicle sales rose year-over-year. However, experts predict that will be a one-time occurrence. There was a dip in automotive interest rates at the end of the year...
Cadillac Suspends Subscription Plan

Cadillac Suspends Subscription Plan

General Motors’ Cadillac division is hitting pause on its vehicle subscription service, Book by Cadillac, then it will be relaunched early next year. Andrew Lipman, a Cadillac spokesman, confirmed the plans, following a Wall Street Journal report that Cadillac was...
New Vehicle Prices Continue to Rise in Fourth Quarter

New Vehicle Prices Continue to Rise in Fourth Quarter

Despite predictions of an overall decline, U.S. auto sales rose slightly in October, led by companies with shiny new sport-utilities and crossovers to offer buyers. However, those more desirable vehicles combined with rising interest rates are resulting in new vehicle...