California advances legislation cracking down on stolen goods resellers and auto theft
The California Senate on Wednesday approved 15 bipartisan bills that would stiffen penalties for organized crime groups, expand drug court programs and close loopholes in the law to make it easier to prosecute auto thefts. One proposal would require large online marketplaces like eBay and Amazon to verify the identities of sellers who make more […]
Monthly car payments decline despite rising auto insurance rates
More than 17% of drivers who own a new car pay more than $1,000 per month. (iStock) The auto industry is becoming increasingly affordable, with monthly payments for a new car averaging $735 as of the first quarter. Although it is still at a high level, it is a slight decrease compared to the previous […]
Auto industry experts warn Biden’s EV mandate may limit gas car options in the future
Industry experts say that when President Biden said Americans can “buy any kind of car they want,” he was taking into account new emissions standards his administration is introducing that will reduce consumer choice. It is said that there was not. In a speech outside the Rose Garden on Tuesday, Biden focused on protecting American […]
China’s EVs a ‘Nightmare’ for U.S. Auto Workers Without Steep Tariffs
BYD, the Chinese Communist Party’s (CCP) major automaker, sells electric vehicles (EVs) that cost $12,000, but without a complete ban or increased tariffs on electric vehicles (EVs) made by Chinese companies, “This could be a nightmare” for the automotive industry. . a report from detroit newsIn interviews with multiple industry insiders, the magazine found that […]
Biden’s New Rule on Auto Emissions Will Accelerate Death Spiral for Auto Manufacturers
For one of the wealthier countries on this planet, America, with 330 million that represents about 4% of the world’s 8 billion on this planet, President Biden is speeding ahead with EV mandates to ditch most new gas cars by 2030. Biden may not be cognizant that 80 percent of the 8 billion on this […]
Consumers see higher auto payments in exchange for better borrowing rates
Car loan repayment terms have become shorter, but monthly payments have increased. (iStock) Experian recently found that rising interest rates are making long-term loans less attractive, even for borrowers with good credit. report. They’re making higher monthly payments over shorter terms in exchange for better interest rates, said Melinda Zabritsky, head of auto financial insights […]
Elon Musk visits China as competitors show off new electric vehicles at Beijing auto show
Tesla founder and CEO Elon Musk met with top government officials in the Chinese capital on Sunday, just as the Chinese automaker unveiled its latest electric vehicle model at the Beijing Auto Show. I was in the middle of it. Chinese state broadcaster CCTV reported on its main evening news program that Chinese Premier Li […]
Auto insurance premiums are skyrocketing. What’s to blame?
According to Insurify, Nevada has the second-highest auto insurance rates in the country. Rising auto insurance premiums are fueling high inflation and continuing to put financial pressure on millions of households across the country. Consumer prices rose 0.4% The Labor Department announced on Wednesday that the year-on-year increase in March was 3.5% compared to the […]
Bidenflation Hits Auto Repairs, Car Insurance, and Even Parking Prices
The price of car ownership continues to accelerate for American workers under President Joe Biden. Prices for auto repairs, auto insurance and parking have risen since 2023, according to March Consumer Price Index (CPI) data. released Wednesday: — Automotive maintenance and repair: 8.2% increase Up 1.7% since March 2023 / since February 2024 —Auto insurance: […]
Meet the ‘subprime auto king’ who arranged Trump’s $175 million bond
After weeks of uncertainty, former President Trump posted $175 million bail on Monday in a civil fraud case in New York with the help of little-known California billionaire Don Hankey. paid the money. Hankey’s Knight Specialty Insurance Company assumed Mr. Trump’s bail, allowing the former president to proceed with appeals in the case and blocking […]