Many drivers are spending over 30% of their monthly income on auto loans, car insurance costs also rising
Many drivers are stressed out by high car loans and insurance premiums. (iStock) Buying a car is becoming increasingly expensive, with one in 10 drivers spending more than 30% of their monthly salary on a car loan. MarketWatch survey results revealed. The survey asked 1,000 drivers how their monthly car payment affected their finances and […]
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California auto shop owner Aristeo Zambrano shot dead while working in Bay City Alternators in broad daylight
The owner of a beloved Oakland auto shop that has been a pillar of the area since the 1990s was gunned down in broad daylight on February 3 while working at his shop. Aristeo Zambrano, 68, who immigrated from Mexico in the 1970s and worked for the United Farm Workers (UFW) movement, was retiring from […]
Surging auto insurance costs are fueling higher inflation
Former Assistant Secretary of the Treasury Monica Crowley talks about the strain inflation is having on the middle and lower classes on “The Bottom Line.” Rising auto insurance premiums are fueling high inflation and continuing to put financial pressure on millions of households across the country. Consumer prices rose 0.3% Labor was up 3.1% in […]
Auto loan delinquencies spiked last year in troubling sign for economy
Portfolio Wealth Advisors President and Chief Information Officer Lee Manson talked about the expected earnings releases of major banks, the Federal Reserve’s interest rate cuts, and gave his outlook for the market this year. More Americans are falling behind on their car payments, and this is an ominous sign for the country. us economy This […]
Credit Card and Auto Loan Delinquencies Surge on Back of Bidenflation
U.S. consumer spending has continued to fuel the economy at an unexpected rate over the past year. On the dark side, delinquencies on credit cards and auto loans are skyrocketing. “New delinquencies are particularly bad for both auto loans and credit cards, with transition rates exceeding pre-pandemic levels,” the New York Fed said. Said In […]
Biden tells auto workers ‘we don’t taste that good’ before facing Gaza hecklers in Michigan
President Biden told autoworkers union workers in Michigan on Thursday that Americans “don’t taste very good” in a bizarre aside, hours later jeering anti-Israel hecklers in the critical battleground state. I was blown away. “Remember when they told us we were dead? American manufacturing was over and China was going to eat our lunch?” Biden […]
Without Tariffs, China Will ‘Demolish’ American Auto Industry
Tesla CEO Elon Musk said the U.S. auto industry would be decimated if the U.S. didn't impose heavy tariffs on China. According to CNBC, Musk made the remarks during Tesla's earnings call this week, saying that without U.S. tariffs on China, Chinese automakers like BYD and Nio would “nearly wipe out” U.S. automakers. suggested. “Chinese […]
United Auto Workers endorses Biden ahead of likely rematch with Trump
The United Auto Workers (UAW) endorsed President Biden on Wednesday, boosting his campaign's focus on the November election. UAW President Sean Fein introduced Biden's speech at the conference in Washington, D.C., and expressed support for the union, citing the president's recent solidarity with strikes against major automakers. “He heard the call and got up and […]
Republican #Resistance Comes to Electric Vehicles at the D.C. Auto Show
Corporate exhibitions are usually polished but solid. Companies spend a lot of money on lighting, staging, and all sorts of beautification to make their shows polished, but also solid. A little dull. Companies don't want controversy. Angry words create unpredictable headlines and take focus away from your product. Therefore, the goal is a smooth “frictionless” […]