The global shift towards electric vehicles (EVs) has encountered a significant roadblock — the price tag. According to a survey conducted by S&P Global Mobility, nearly half of the 7,500 respondents worldwide cited high EV prices as the leading barrier to adoption. Despite a notable drop in average EV prices
California Paves the Way: Standardized Diagnostic Systems for EVs Set to Revolutionize Repairs In a significant leap toward simplifying electric vehicle (EV) diagnostics, California is taking the lead in proposing regulations that mandate the implementation of an industry-standard diagnostic system for EVs. This groundbreaking move aims to address the current
Navigating the Auto Market Landscape: Post-Strike Insights for Week Ending November 11, 2023 Emerging from the shadow of recent strikes, the automotive market is undergoing a course correction, notably within the Truck and SUV sectors. This week’s update unveils unprecedented single-week depreciation in Full-Size Vans and Full-Size Trucks, setting new
Analyzing the 61% Rise: EV Registrations Hit 852,904 in the U.S. The electric vehicle (EV) revolution is in full swing in the United States, with registration data revealing a substantial growth in EV market share, reaching 7.4% through the third quarter of this year, according to Experian. Despite initial concerns
Best Auto Incentives and Rebates in November 2023 Greetings! Welcome to our weekly Auto Incentives and Rebates update, where we strive to provide you with the most current and exciting news. Our mission is to assist you in discovering exceptional deals and savings for your desired vehicle. To ensure accuracy,
From Peaks to Plateaus: Examining the Current State of Used Truck Prices In recent times, the used truck market has experienced significant fluctuations, driven by a myriad of factors, most notably the global pandemic. However, recent data from Price Digests suggests that the market may finally be stabilizing after two
Auto Market Update for the Week Ending November 4, 2023 Last week, the wholesale auto market saw higher-than-typical seasonal depreciation across various segments as the industry grappled with the impact of the recent labor strikes. The United Auto Workers (UAW) reached tentative agreements with major automakers, including Stellantis, Ford, and
UAW Strike Impact and High-Interest Rates: US Auto Sales in Decline The US automotive market has had an eventful year in 2023. Several significant factors, including the six-week UAW strike, high interest rates, elevated vehicle prices, and fluctuating inventory levels, have created a dynamic landscape for both automakers and consumers.
Auto Market Update Week Ending October 28, 2023 After six weeks of negotiations, the United Auto Workers (UAW) has reached a significant breakthrough with automotive giants Ford, Stellantis, and General Motors. This development comes after a challenging period in the auto market, marked by notable declines, particularly in the Truck
Automotive Leasing Landscape Poised for a Year of Fluctuation in 2024 Should Leasing Rates Return to Pre-Recession Levels? (PDF) Retail leasing returns in the United States are poised for a roller-coaster ride, as we head into 2024. According to Experian, one of the leading consumer credit reporting companies, the upcoming
The Evaporation of Zero Percent Financing: What’s Behind the Decline and Its Impact on Auto Shoppers In the wake of the COVID-19 pandemic, the automotive industry experienced unprecedented turbulence. As dealers and automakers scrambled to navigate this uncertain landscape, they turned to a familiar incentive to entice buyers: zero percent
Mazda Riding a Wave to 500,000 Sales: The Resurgence of a Japanese Icon Mazda, the renowned Japanese automaker, is experiencing a remarkable resurgence, poised to achieve remarkable sales milestones in the coming years. This impressive transformation, initiated in 2016, is characterized by various strategic moves that have positioned Mazda for
Revving Up the Weekly Auto Market Review: Ending October 21, 2023 Auto Market Update Week Ending Oct 21, 2023 (PDF) In a period of prolonged uncertainty driven by the United Auto Workers (UAW) strike, the auto market finds itself in a holding pattern, with industry players adopting a cautious “wait-and-see”
Detroit Three Strike Creates Headwinds, but October Sees a Silver Lining October Auto Sales Surge Expected Despite Industry Challenge (PDF) The U.S. automotive industry is navigating choppy waters, with the latest reports indicating that auto sales are poised to rise in October. However, the overarching uncertainties stemming from the ongoing
A Comprehensive Analysis of September’s Auto Sales (PDF) September’s auto sales exceeded expectations and defied market challenges, with significant gains in the third quarter. Labor Day weekend shopping, improved new-vehicle inventory, and robust demand for light trucks, and electric vehicles (EVs) contributed to the remarkable performance. Let’s delve into the
The Removal of the Appraisal Clause: A Detriment to State Farm’s Auto Policyholders (PDF) State Farm, one of the largest insurance providers in the United States, recently implemented a significant change to its Alabama auto insurance policies by removing the appraisal clause provisions. This decision has sparked concerns and raised
Tesla Drives U.S. EV Market Surge with Aggressive Price Cuts (PDF) The American electric vehicle (EV) landscape is undergoing a seismic shift, with Tesla emerging as a dominant force, catalyzing the transition. Recent registration data reveals a fascinating story of how Tesla’s strategic price reductions have propelled its market share,
Tesla Model 3 Surges into Top 10 Leased Vehicles in the U.S. (PDF) In a groundbreaking achievement for the electric vehicle (EV) industry, the Tesla Model 3 has stormed its way into the prestigious list of the top 10 leased vehicles in the United States. This remarkable feat comes on
Appraisal Requirements for Donation of Real Property and Other Assets to Section 501(C)(3) Organizations (PDF) If you are planning to claim deductions for your noncash charitable donations on your Federal taxes, you need to file Form 8283. This guide provides assistance in understanding the appraisal requirements for donating real property
Auto Market Update Week Ending September 13, 2023 (PDF) This week in the auto market has been one filled with anticipation and uncertainty as the industry awaits news of a possible UAW strike and its potential impact. The market’s depreciation rate, which had been on a rapid decline, showed signs
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