The National Highway Traffic Safety Administration (NHTSA) estimates that about 300 fatalities and 18,000 injuries occur each year as a result of accidents caused by vehicles backing up, with almost 45% of these fatalities involve children under five. A lawsuit filed in New York today, has the Consumers Union and the advocacy wing of Consumer Reports magazine hoping that it will force the U.S. Department of Transportation (DOT) to take steps in setting rear visibility standards for light vehicles. Continue reading
Tag Archives: auto industry
Chrysler IPO Filing Pressures Fiat
Chrysler is reluctantly preparing for an initial public offering (IPO) of shares owned by the United Auto Workers (UAW) trust after failing to reach an agreement on the value of the stock with the trust. Chrysler shares haven’t been publicly traded since 1998, when the company merged with Daimler AG who is now a majority owner of Italian automaker Fiat SpA. Continue reading
Fuel Economy Labels For Used Cars
The Government has taken steps to improve the fuel efficiency of vehicles sold in America by establishing some of the toughest fuel economy standards for passenger vehicles in U.S. history. These standards are expected to save consumers $1.7 trillion at the pump and reduce carbon pollution by six billion metric tons. As part of the program, the Environmental Protection Agency (EPA) and the Department of Transportation (DOT) developed a window sticker for new vehicles which allows consumers to compare conventional cars, hybrids and all electric vehicles by giving information on greenhouse gas ratings, emissions, smog ratings, and fuel costs. The new label came into effect for all 2013 model vehicles. Continue reading
Leasing Encourages Moderately Priced Auto Sales
Automobile leasing has traditionally been used by high end automakers as a way of making their vehicles more accessible for consumers. High used car prices, low interest rates and Americans’ tendency to buy vehicles based on monthly payments, now has automakers using the strategy to sell more moderately priced vehicles as well. This selling tactic has resulted in strong sales with leases accounting for approximately 26 percent of new vehicles purchased, the highest it has been since 2007. Continue reading
A More Affordable Autonomous Car
Ever since Google developed their self driving car, consumers have dreamed about the day when their vehicles could transport them to work, leaving them to concentrate on more important things or simply give them a little more time to sleep. Unfortunately multiple cameras, radar sensors, and laser range finders make the technology unobtainable for most. Continue reading
Auto Lender Practices Questioned
Last month, U.S. automobile lenders received subpoenas from the Consumer Financial Protection Bureau (CFPB) over the sale of extended warranties, add-ons and other financial products. Regulators are probing whether the terms and prices of these products are adequately disclosed to consumers and are questioning if some lenders may be using them as a way of boosting profits. Continue reading
Tesla Pays Off Millions In Government Loans
Electric car maker Tesla has paid off $465 million back to the Energy Department for loans they received in 2010. The company was able to pay back the loan nine years early due to money raised in the markets, and revenue from selling green energy credits to other automakers. Continue reading
Automakers and Dealers Oppose Rental Recall Bill
A Tuesday meeting of the senate, automobile manufacturers, and auto dealers resulted in a negotiation stalemate with the proposed new rental recall legislation that would prohibit automobile rental companies from renting or selling vehicles that have recalls on them. Continue reading
