July 2015

Nearly 80 percent in survey think vehicle hacking will be frequent problem

(July 31, 2015) IRVINE, Calif — The vulnerabilities of vehicle hacking have made an impression on car owners and shoppers, and nearly 80 percent say it will be a frequent problem within the next three years or less, according to an all-new survey by Kelley Blue Book. 

Awareness of the recent Jeep Cherokee hacking incident is very high, and nearly half of respondents said they will keep this event in mind when buying or leasing their next car.  Moreover, the majority of consumers do not think there will ever be a permanent solution to the problem of vehicle hacking.

Honda Fit ranks highest in Kelley's '10 Best Back-to-School Cars'

(July 30, 2015) IRVINE, Calif. — With the 2015-2016 school year right around the corner, many students and parents of teens are considering their transportation needs to and from campus and activities.  To help shoppers narrow down their choices, the editors at Kelley Blue Book kbb.com have named this year's 10 Best Back-to-School Cars of 2015.

For the second consecutive year, the Honda Fit leads the rankings.

AAA reports longest gas price decline since January

(July 29, 2015) WASHINGTON — The national average price for regular unleaded gasoline has dropped for 12 days in a row, which is the longest consecutive decline since January. The national average price is $2.71 per gallon, which is a nickel per gallon less than one week ago and seven cents less than one month ago. Most drivers are paying the lowest July prices since 2009 and are saving 82 cents per gallon at the pump compared to a year ago, according to AAA in its weekly report.

New survey reveals interest rate confusion among car buyers

(July 28, 2015) ATLANTA — According to a national survey commissioned by Carvana, 71 percent of consumers who have ever taken out an auto loan are not aware of the total dollar amount of interest spent on their last loan, and 69 percent do not understand what a one percentage point reduction in their rate would save them.

To help car buyers better understand the impact of interest rates on the total cost of auto loans and identify a fair rate for their purchase, Carvana, an online auto retailer, has introduced its Fair Compare Interest Rate tool.

New report predicts continued growth in freight, trucking

(July 28, 2015) ARLINGTON, Va. — A new report released Monday  by American Trucking Associations projects freight volumes will increase by nearly 29 percent over the next 11 years.

"The outlook for all modes of freight transportation remains bright," said ATA Chief Economist Bob Costello in releasing U.S. Freight Transportation Forecast to 2026.  "Continued population growth, expansion of the energy sector and foreign trade will boost trucking, intermodal rail and pipeline shipments in particular."

J.D. Power forecasts best July auto sales in a decade

(July 27, 2015) WESTLAKE VILLAGE, Calif. — The U.S. new-vehicle retail seasonally adjusted annualized selling rate (SAAR) in July is expected to reach 14 million units, its highest level for the month since 2005, according to a monthly sales forecast from J.D. Power and LMC Automotive.

The new-vehicle retail SAAR in July is nearly 500,000 units higher than July 2014 and is the strongest July since 2005 when the SAAR reached 16.7 million driven by automakers’ “employee pricing for everyone” promotions.

Ford GT takes top honors in North American Concept Vehicle Awards

(July 27, 2015) PLYMOUTH, Mich. — The winners of the 14th annual North American Concept Vehicle of the Year Awards were announced this weekend during a ceremony held at the Concours d’Elegance of America at St. John’s. The Ford GT was named Most Significant Concept Vehicle of 2015.

Porsche ranks highest in J.D. Power APEAL study for 11th straight year

(July 23, 2015) WESTLAKE VILLAGE, Calif. — The safety-related technologies that manufacturers are increasingly equipping their new vehicles with are making those vehicles more appealing to their owners, according to the J.D. Power 2015 U.S. Automotive Performance, Execution and Layout (APEAL) Study released Wednesday.

Analysis finds that younger generation increasingly turns to leasing

(July 22, 2015) SANTA MONICA, Calif. — Millennial car buyers opt to lease their vehicles at a higher rate than the overall car buying population, according to a new analysis from Edmunds.com. The finding suggests that millennials are more willing than older adults to sacrifice the long-term financial benefits of car ownership to get into bigger or more luxurious vehicles that are typically more affordable through leasing.

According to Edmunds’ analysis of car registration data provided by Polk, leasing has accounted for 28.9 percent of all new car purchases by Millennials (age 18-34) in 2015.

Strictest and most lenient states on speeding, reckless driving

By Alina Comoreanu

(July 22, 2015) Speed kills. We have all been told that since driver’s education class, and yet America drivers routinely exceed the speed limit. Before you underestimate the danger of exceeding the speed limit, consider that in 2013, speeding was a factor in 29 percent of motor vehicle crash deaths. Speeding is costly, too.

The National Highway Traffic Safety Administration estimates that the annual economic cost to society of speeding-related crashes is $40.4 billion.