Auto Industry in the News

Are High Gas Prices Actually Benefiting the Auto Industry?

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September 19, 2014

Are high gas prices actually good for the automotive industry? According to some, that’s the case – just in sort of a roundabout way. In a recent Wall Street Journal article, one powerful CEO made a compelling argument this is so.

According to Mike Jackson, the Chairman and CEO of AutoNation, the high gas prices present a new opportunity. He said that for the first time, the auto industry can now offer viable alternatives to the gas-guzzling vehicles on the road today. As a result, Jackson believes that a sudden, significant dip in gas prices would actually undercut the growth of automotive technology.

New NHTSA Chief Administrator to be Named Soon

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September 17, 2014

A new NHTSA Chief Administrator will be named very soon. The National Highway Traffic Safety Administration has been operating with Deputy Administrator David Friedman at the helm since January, when David Strickland resigned to take a position with a Washington-based law firm.

Anthony Foxx is the U.S. Transportation Secretary, and he is in charge of finding a permanent replacement – and he says we can expect movement on this in the near future. That would be a good thing, because Friedman’s 210-day temporary time limit as NHTSA Chief Administrator has expired.

Initial Kia Soul EV Price Set at $33,700

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September 15, 2014

The all-new 2015 Kia Soul EV price is about what you might expect. It will begin with a sticker price of $33,700, plus an $875 destination fee. However, there is a $7,500 federal tax credit that drops the final price to under $30,000.

Debuting in October, the Kia Soul EV will primarily be available in California. In 2015, it’s Kia’s intention to bring the Soul EV to other states that follow California’s lead of requiring car manufacturers to sell zero-emission cars that run on battery power or convert hydrogen into electricity using fuel cells. States currently under consideration include Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island and Vermont.

Mercedes-Benz AMG GT is Coming to Compete with Porsche 911

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September 11, 2014

AMG GT The Mercedes-Benz AMG GT sports car is coming soon. It appears that Mercedes-Benz is ready to throw its hat in the ring in the two-seater sports car arena, and the AMG GT is poised to compete against the likes of the Porsche 911, the Audi R8, Nissan GT-R and the Acura NSX.

While it won’t be the most powerful AMG model made by Mercedes-Benz, it certainly is no slouch. Want a car that goes from zero-to-60 in just 3.7 seconds? This is the car for you! The AMG GT S (the first of two GT models that will be released) features a 4.0-liter, twin-turbocharged V-8 engine that produces 503 horsepower and 479 lbs.-ft. of torque. Its top speed will be 193 mph.

Automotive Manufacturers Increase Ad Spending in 2013

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September 10, 2014

Automotive manufacturers continue to understand they can’t afford to refrain from advertising. Last year was proof positive, as the auto industry as a whole increased spending nearly four percent from 2012 – at a total of $15.2 billion.

This total represents the second-largest industry number in 2013. Only retail, at $16 billion, topped the retail industry. It was also the fourth consecutive year that the automotive industry’s total exceeded the number from the previous year.