July 2017

Michelin, FIA improve tire-safety education for teen drivers in all 50 states

(July 17, 2017) NEW YORK — Michelin North America, in partnership with FIA — the world governing body for motorsports and global leader in road-safety advocacy — has achieved an historic milestone for teen-driving safety in the United States: For the first time, administrators in all 50 states have committed to include consistent information about tire safety in state-mandated training materials for new drivers.

Edmunds: SUVs help niche luxury brands steal share from legacy rivals

(July 14, 2017) SANTA MONICA, Calif. —  As the auto industry tries to adjust to selling cars in a declining market, the popularity of SUVs is giving niche luxury brands a boost, according to the latest Luxury Market Report from Edmunds.

BMW, Mercedes-Benz and Lexus all lost market share during the first half of 2017 compared to the first half of last year, while brands such as Audi, Infiniti and Jaguar gained. Through the end of May, Jaguar's sales were up 115 percent, Infiniti's sales were up 24 percent, and both Audi and Lincoln were up 6 percent.

Study finds credit scores affect cost of car insurance

(July 13, 2017) Everyone knows you need auto insurance to drive. It’s the law, everywhere but New Hampshire. We also know that our credit scores dictate what types of credit cards and loans we can get. But most of us are in the dark about to the connection between credit scores and car insurance.

So WalletHub set out to see just how much credit data affects the cost of insurance policies in each of the 50 states and the District of Columbia.

Study finds searching for parking costs Americans $73 billion a year

(July 13, 2017) KIRKLAND, Wash. — INRIX this week published a major new study combining data from the INRIX Parking database of 100,000 locations across 8,700 cities in more than 100 countries, with results from a recent survey of nearly 18,000 drivers in the U.S., U.K. and Germany, including close to 6,000 across 10 U.S. cities.

With the goal of analyzing and ranking the economic costs of "parking pain" in these markets, INRIX research found that, on average, U.S. drivers spend 17 hours per year searching for parking at a cost of $345 per driver in wasted time, fuel and emissions.

NICB's Hot Wheels: America's 10 most stolen vehicles

(July 12, 2017) DES PLAINES, Ill. — The National Insurance Crime Bureau (NICB) today released its annual Hot Wheels report which identifies the 10 most stolen vehicles in the United States. The report examines vehicle theft data submitted by law enforcement to the National Crime Information Center (NCIC) and determines the vehicle make, model and model year most reported stolen in 2016.

Study: Consumer loyalty to SUV/CUVs highest ever

(July 12, 2017) SOUTHFIELD, Mich. — More than two-thirds of Sport Utility Vehicle and Crossover Utility Vehicle owners in the U.S. who returned to market in the first four months of 2017 acquired another new SUV or CUV, according to new analysis from business information provider IHS Markit.

Gas prices start moving higher after July 4th holiday

(July 11 2017) For the first time in five weeks, the national average gas price is increasing. At $2.26, today’s price has been moving higher since July 6 and is three cents more than last week. The moderate price surge follows a week of solid demand growth and a third straight week of gasoline inventory drawdowns across the country, according to AAA.

Lincoln Continental one of three large cars getting IIHS top safety pick

(July 7, 2017) ARLINGTON, Va. — The Lincoln Continental, the Mercedes-Benz E-Class and the Toyota Avalon came out at the top of a group of six large cars recently evaluated by the Insurance Institute for Highway Safety. The three cars qualify for Top Safety Pick+, the Institute's highest award.

The Tesla Model S, the Chevrolet Impala and the Ford Taurus fell short of any award because they each earned only an acceptable rating in the small overlap front test.

Study finds new cars unaffordable for most Americans

(July 6, 2017) NEW YORK — A median-income household can only afford the average-priced new car in one of the 25 largest U.S. metropolitan areas, according to a new Bankrate.com report. Washington, D.C. came out on top.

The study adhered to the "20/4/10" rule: a 20% down payment, a four-year loan and principal/interest/insurance payments comprising 10% of a household's gross income.

Manufacturers augmenting profits with super luxury vehicles

(July 6, 2017) LONDON — Wealthy consumers willing to pay for innovative, customizable, high-performance, technologically advanced vehicles are driving the super luxury vehicles market. Growth is augmented by high demand for sport utility vehicles and crossovers that are both practical and luxurious, according to research from Frost & Sullivan.