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Auto Industry in the News

Auto Industry in the News

Initial Quality Study

Initial Quality Study Reveals Porsche as Repeat Winner

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Initial Quality StudyThe 28th annual JD Power and Associates Initial Quality Study results have been released, and last year’s winner is also this year’s champ. That’s right … for the second straight year, Porsche is the top dog in the automotive pack.

Following Porsche in the ratings was Jaguar in second place, with Lexus finishing third. On the other end of the spectrum of the Initial Quality Study was Fiat, who came in dead-last by quite a wide margin; and Jeep, who finished second-to-last. 

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Hybrid Car Savings

Are Hybrid Car Savings Greater Than Initial Extra Expense?

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Hybrid Car SavingsTouting hybrid car savings, the Honda Insight Hybrid was introduced for the first time in 1997 at that year’s Tokyo Auto Show. Two years later, it made its way stateside in the form of a 1999 model that was the very first mass-produced hybrid car sold in America (beating the Toyota Prius by seven months). In 1999 those were the only two hybrids available; today, there are 71 (including plug-ins) in the North American market that are 2014 model-year vehicles.

Since the release of the original Insight, debate has ensued over whether the hybrid car savings is more than the additional cost he/she incurs during the initial purchase. And since these questions have been asked, the same answer is given: Sometimes yes; sometimes no. 

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Vehicle Satisfaction Awards

2014 Vehicle Satisfaction Awards Are Out

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Vehicle Satisfaction AwardsThe 18th Annual Vehicle Satisfaction Awards have been handed out, and among the big winners are Lincoln and GMC, voted the two highest-rated brands. (Lincoln was tops in the premium category, while GMC took home top honors in the “Popular Brand” category. Meanwhile, the Mercedes-Benz S-Class posted the best overall score.

The Vehicle Satisfaction Awards are the work of vehicle consulting form AutoPacific, located in Tustin, California with a second office in Detroit. These awards identify the most satisfying vehicles based on responses from more than 92,000 new vehicle owners. 

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Vehicle Recalls

Vehicle Recalls Present Opportunity to Shine at Dealer Level

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Vehicle RecallsVehicle recalls are coming in at a fast and furious rate. Prior to a recent announcement of five concurrent Toyota recalls totaling 6.4 million vehicles, a recent Los Angeles Times article pointed out that about 11 million vehicles had been recalled in the United States so far this year.

Your first thought very well could be, that’s a lot of vehicle recalls … and you’d be right. According to the National Highway Traffic Safety Administration (NHTSA), it is already about half the 22 million vehicles recalled in all of 2013 – and more than a third of the way to the recent record of 30.8 vehicle recalls set in 2004. 

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Long Auto Loans

Will Long Auto Loans Have Long-Term Impact on Auto Industry?

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Long Auto LoansLong auto loans are becoming the norm, but so far this does not seem to be a chief concern among automotive dealers. Despite personal incomes not going up much, the average transaction price for a vehicle is rising (typical amount financed is an all-time high of $27,612) … and sales volume is going up, too.

Something has to give, and the end result has been long auto loans that span as many as 84 months. By extending the loan terms, the monthly payments become more manageable – a great thing today for both consumer and dealer. But what about tomorrow? 

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